Post on 30-Dec-2020
Previously on E&I…Core concepts: Entrepreneurship and Innovation
A quick recap of
Class 1
Entrepreneurship
Innovation
Evolutionary and
revolutionary innovation
Entrepreneurship
“A management and leadership style that involves
pursuing opportunity without regard to the resources
currently controlled.”
(Adapted from Stanford University’s Technology Entrepreneurship course, 2015)
A process.
Involves leadership, creativity, risk, a vision.
Obtaining, generating, managing some resources
Does not necessarily imply creating a new organization.
Innovation
The process of translating an idea into a good or service
which creates value for some customers in an
economically sustainable way.
Replicable in a viable way
A need or expectation -> Better than existing solutions -> Willing
to pay
A market
Not just new for the sake of being new.
ENTREPRENEURSHIP AND
INNOVATIONClass 2 – Creating and detecting opportunities
Javier A. Rodríguez-Camacho, Ph.D.
Pontificia Universidad Javeriana in Bogotá, II-2020
Some Important Dates
14/08 : Deadline for team formation
24/08 : Deadline for initial ideas presentation
In your teams, 3 to 5 minutes.
Bring support material
Try the idea to be as close to the real one as possible
Short feedback by me.
Randomly organized in the second half of the course (7:30 on)
07/09 : First Presentation (Primera Entrega)
You need to form a 4-person team ASAP!
Let’s play!
• On your phone or computer log on
to: play.seppo.io
• Select player and enter thefollowing code: FCG983
• Follow the instructions to
complete the game.
• You have 15 minutes to complete
the game, find an opportunity and
present it.
• The exploration is invidual, the
opportunity must be discussed in
teams (random).
• Good luck!
Submit the results of your team discussion (conclusions, opportunity
presentation) via email: rojavier@javeriana.edu.co
Why did we do this?
What is an opportunity?
Opportunity
A situation where I can use my knowledge, abilities, or
resources, to solve someone’s problem.
"Situations in which new goods, services, raw materials,
and organizing methods can be introduced and sold at a
price greater than their cost of production". (Shane &
Venkataramann 2000)
Opportunity
How do opportunities arise?
Good timing
Technical or technological advantage
They can be detected --- Deep knowledge of the market
Consumers
Competition
Global trends
Luck
Homework time!
Please hand it in now in case you still have not done
so
Five business ideas
Business description.
Get those cards with the business ideas ready!
Classwork 3
Individually, choose one of your five ideas
On your own, answer the following questions
Who do you think would use the good or service? Would they pay?
What problem do you solve?
Your KRS (Knowledge, Resources, Skills)
Can you start with what you have? What do you need?
How can you get it? Do you know anyone? Why would they help you?
Now what? Change the idea? Continue as is?
Submit this analysis via email.
You have 10 minutes.
Classwork 4
Join your team and fill-out the Idea Napkin for at least
three of the ideas you had.
If you don’t have a team, you will be randomly assigned to
one for today.
Please let us know in the chat: the team members, if you
don’t have one
You will submit and present to the whole class one of the
three napkins.
You have 15 minutes.
Why
entrepreneurship
and innovation?
Entrepreneurship and Innovation
Innovation is also about opportunities
Emphasis on finding new ways to solve old problems.
Innovation is knowledge intensive
How you find an opportunity
Know your customers, market, rivals, very well
They are entwined
Competitive advantage.
Entrepreneurship and Innovation
The process of transforming an idea into a good or service
that creates value in a sustainable way.
They told me this is the hardest part!
Value
How much am I willing to pay for it to ease my pain.
Solve a problem
Find a more efficient way to allocate resources
Show me a necessity I was unaware of
Give something old a new use
Transform reality
You have one homework
Present the idea you have chosen with your group
Problem and Solution.
Customer
Evidence from secondary sources.
Why this idea?
Is it an opportunity, why?
What do you have?
What do you need?
Five minutes máximum.
Bring support material.
Thanks for your attention!Don’t forget the homework and see you next class.