Welcome to course on Business ideation. The goal of this module is to guide participants on the steps for generating a Business Idea. The first and most important step in developing a business is generating a good business idea. Business idea generation goes beyond having a good feeling about the idea but it involves a step by step guided process of identifying a viable business idea.
An entrepreneur is one who identifies a need, organizes, manages resources, and assumes the risks of starting and managing a business enterprise. An entrepreneur transforms ideas through innovative methods into products and services.
The success of an entrepreneur depends on how a business idea is transformed into reality, Generating a business idea is the most important task of an entrepreneur. Therefore, it is essential that an entrepreneur has a business idea generation skill. Knowledge of business idea generation will assist the entrepreneur in identifying the right product or service guided by the most favourable context.
To achieve this it is important to understand that starting and managing a successful business goes beyond the imagination or the feeling of what works. Rather it is a methodological process of conceptualization guided by important considerations such as the prevailing need, which may arise from customers disaffection or desires, competitors products and service, personal attributes of the entrepreneur such as skills and experience and emerging technology
Since Business ideation is the first and most important step to be taken by an entrepreneur for success, this Entrepreneurship training commences with the module on Business Ideation. This Ideation course introduces students to the business ideation process in order to guide them on how to develop implementable and sustainable business ideas.