INOV809 Opportunity Recognition and Evaluation
This unit is not presently being offered by Macquarie University.
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Description
This unit introduces students to the differences between "ideas" and "opportunities", and to the notion that one can actively search for opportunities and can formally evaluate them. Students will cover trend analysis, customer needs analysis through concept engineering, the development of value propositions, and the various evaluation tools required to assist them with a decision to launch entrepreneurial projects of enterprises.
The unit is particularly relevant to three groups of students:
- students with a desire to be an entrepreneur, but who don't have an opportunity, or idea, to go after;
- students who have the basics of an idea and/or opportunity and wish to evaluate it and develop it further; and
- students who wish to improve their ability to select which opportunities and ideas to go after, whilst based within organizations.
The notion of an entrepreneur's "sweet spot" will be covered to assist students with their decision making.
Assumed knowledge
Knowledge equivalent to completion of the Graduate Certificate in Entrepreneurship.
Topics
- idea v. opportunity
- opportunity hunting
- structured serendipity
- creating thinking in entrepreneurship
- concept engineering/development
- creative problem solving
- value proposition
- opportunity evaluation
- the window of opportunity
- entrepreneur's sweet-spot
- basic of forecasting
- market and research and analysis
- competitive advantage
- industry intelligence and analysis
- company investigation
- rationality and decision-making
- the questions every entrepreneur must ask
Staff
Offered
Semester One - Day