Entrep Lesson 2
Entrep Lesson 2
Activity no. 2.
1. Discuss the 4 internally focused sources for innovative opportunity according to
Drucker.
The unexpected (unexpected success, failure, or outside events)
When you build a business, you should know the possible unexpected
consequences either positive or negative.
The incongruity between reality as it actually is and reality as it is assumed to be
or as it ought to be
Having a business, you must know and accept the reality that it’s not
going easily to be on top.
Innovation based on process need
The business plan is well prepared/process.
Changes in industry structure or market structure that catch everyone unawares
You should know on how to adapt changes that the industry offer.
3. One of the components of Mitchell’s (2000) New Venture TemplateTM asks whether the
venture being examined represents a new combination. To determine this, what
considerations did he suggest? Please discuss.
Mitchell’s suggest to consider the two categories of entrepreneurial discovery.
The first one is the scientific discovery, which means that we should try to invent
or discover new product and services then, the circumstantial discovery to
discovered opportunity according to what is the society needed.
4. What are Schumpeter’s (1934) five kinds of new combinations that can occur within
each of the four kinds of entrepreneurial discovery (Mitchell, 2000)?
New or improved good/service
New method of production
Opening of a new market
Conquest of a new source of supply of raw materials
Reorganization of an industry
6. What are the several ways in which entrepreneurs found ideas, according to Vesper?
Prior job
Recreation
Chance event
Answering discovery questions
8. Vesper (1996) also highlighted several mental blocks to departure. He suggested that
generating innovative ideas involved two tasks: to depart from what is usual or
customary and to apply an effective way to direct this departure. (a) Discuss the mental
blocks in the way of departure and the (b) some tactics for departure. [25]
Mental Blocks
Perceptual blocks
Are obstacles that preventing us from solving our problems.
Emotional blocks
Because of overthinking, our brain preventing us to think normally.
Cultural blocks
We are expose to a given set of cultural patterns
Imagination blocks
imagining fear
Environmental blocks
Distracting us from working because of interruptions
Intellectual blocks
Lacking of information to solve a problem
Expressive blocks
poor communicating ideas to others
Tactics for departure
Trying different ways of looking at and thinking about venture opportunities
Trying to continually generate ideas about opportunities and how to exploit
them
Seeking clues from business and personal contacts, trade shows, technology
licensing offices, and other sources
Not being discouraged by others’ negative views because many successful
innovations were first thought to be impossible to make
Generating possible solutions to obstacles before stating negative views about
them
Using idea generating tricks