Unit+2+-+Ideas+&+Opportunities

= = =Unit 2 - Ideas and Opportunities for New Ventures=

This unit examines the inventing and innovation processes and their impact on people. You will hone your creativity skills by recognizing opportunities and ideas for entrepreneurial ventures. You will then select an idea for a venture plan and perform market research to determine its viability.

=CourseWork=

- There are many needs we have, but there is almost always more than one way to satisfy any need //- e.g., to fasten clothes, we can use buttons, velcro, zippers, or many other types of fasteners. All these methods have similarities in what they do, but each also has their own particular way of satisfying the same need - to fasten clothes.// || Remember that your opportunity log is due on Monday || Group presentation will be on Tuesday || - In changes in society lies opportunities for entrepreneurs, and every opportunity will lead to many possible venture ideas//.// || Review your opportunity log and brainstorm at least 10 venture ideas from your list of opportunities. Rank them from best to last. ||  Complete a decision making model for your top 5 ideas, so that you have chosen your best idea to focus your venture on || - Edward deBono is the leading expert in the world on how to teach thinking as a skill - creative and critical thinking strategies. Probably his best know strategy is 6 Hat Thinking - a way to approach a problem / idea from different points of view, to be able to make better all round decisions concerning the issue//.// || Read pp 102-104 in text, and review handout as a group. Discuss the concepts so that everyone understands. On page 105 in text, - individually complete "Cool Stuff" - as a group, complete #4-5 in the "Your Turn" box ||  Complete the worksheet above for the top 2 ideas from your decision-making model || - Read pp 171-175 in text - Complete #1-4 on p 176
 * ~ Date ||~ Topic ||~ Class Notes ||~ Classwork / Homework ||~ Assignments / Projects ||
 * Feb 26 || ** Satisfying Needs in Different Ways ** || ** Discussion Focus: **
 * Mar 3 || ** Trends, Opportunities & Venture Ideas ** || ** Discussion Focus: **
 * Mar 5 || ** 6 Thinking Hats ** || ** Discussion Focus: **
 * Mar 15 || ** Market Research Introduction ** || [[file:Market Research Intro.pdf]] || **Class Work:**

- Review the following Website for ideas on carrying out research on specific industries: [] ||  || - The first part of your research will deal with assessing your business' viability - i.e., the likelihood that your business will succeed//.// ||  Begin work on creating a questionnaire for your business idea / product (this will become part of your next assignment) or finish up the Benefits of a Venture Plan assignment due Friday || **More Info**: Types of Survey Questions || (Competition) || ** Discussion Focus: ** - Determining the viability of your product / idea is partly an analysis of your competition - where they are weak or strong, the opportunities and threats they have - i.e., can you compete against them? How can you compete against them? || Continue work on creating a questionnaire for your business idea / product - be sure to include a couple of questions focusing on your competition (check the SWOT pdf for sample questions) or finish up the Benefits of a Venture Plan assignment due to **Turn** **It In** on Friday ||  || - You will now begin a new assignment that will summarize the research you perform over the next few weeks, determining the likelihood of success of your chosen business idea || Continue work on questionnaires - a good draft is due (**hard copy**) on Monday for a peer review ||  || (Environment) || ** Discussion Focus: ** - we must also consider the environment in which we will start our business - political or legal changes, general economy, social or cultural trends, technological developments - anything you believe may have an impact on your venture idea. || Continue work on your business proposal assignment - begin to hand out surveys when you complete the edit - finish your interview questions and start interviewing people or set up your focus group - begin secondary research to complete your PEST analysis || || - once you have completed your research - your surveys, interviews or focus groups, secondary research - you need to then discover what all this information is telling you about your product idea, your market, and the environment in which you will be doing business. || Continue work on your business proposal assignment - hand out surveys - start interviewing people or set up your focus group - continue secondary research ||  || - you should now be putting the finishing touches to your business proposal || **Due tomorrow**: 1. hard copy of business proposal with research documents attached (see list to the left) 2. soft copy of **report only** - i.e., no research documents - sent to **Turn It In** by midnight Friday || ||
 * Homework/Class Work:**
 * <span style="font-family: 'Trebuchet MS',Helvetica,sans-serif;">Mar 17 || ** Primary Research ** || <span style="font-family: 'Corbel','sans-serif'; font-size: 9pt;">** Discussion Focus: **
 * <span style="font-family: 'Trebuchet MS',Helvetica,sans-serif;">Mar 18 || **SWOT Analysis**
 * <span style="font-family: 'Trebuchet MS',Helvetica,sans-serif;">Mar 19 || **Business Proposal**(Assignment Preparation) || <span style="font-family: 'Corbel','sans-serif'; font-size: 9pt;">** Discussion Focus: **
 * <span style="font-family: 'Trebuchet MS',Helvetica,sans-serif;">Mar 24 || **PEST Analysis**
 * <span style="font-family: 'Trebuchet MS',Helvetica,sans-serif;">Mar 25 || **Research Analysis** || <span style="font-family: 'Corbel','sans-serif'; font-size: 9pt;">** Discussion Focus: **
 * <span style="font-family: 'Trebuchet MS',Helvetica,sans-serif;">April 8 || **Research Analysis** || <span style="font-family: 'Corbel','sans-serif'; font-size: 9pt;">** Discussion Focus: **

=Things to Think About=


 * **<span style="font-family: 'Trebuchet MS',Helvetica,sans-serif; font-size: 9pt;">Todd McFarlane (creator of “Spawn” comics) on <span style="font-family: 'Trebuchet MS',Helvetica,sans-serif; font-size: 9pt;">Entrepreneurshi p ** || <span style="font-family: 'Trebuchet MS',Helvetica,sans-serif; font-size: 9pt;">**<span style="font-family: 'Trebuchet MS',Helvetica,sans-serif; font-size: 9pt;">13 year old entrepreneur Anshul Samar ** ||
 * media type="youtube" key="gPT93C-PtdY" height="265" width="320" || media type="youtube" key="_qhJrdizQw8" height="265" width="320" ||