Activity no. 1.

1. Baron According to Baron, opportunity can be identify using cognitive

process to think for new products and services that is needed by
the society.
2. Drucker According to Drucker, innovation involves “monitoring seven
sources for innovative opportunity”, we should be open for the
positive and negative outcomes especially in the world of
business.
3. Mitchell Mitchell suggested to considered two categories of
entrepreneurial discovery which is the scientific and circumstance
discovery.
4. Schumpeter According to Schumpeter, to have a new combination for our
business, we should make a change or improve our
product/services.
5. Murphy Murphy suggest the multidimensional model as he was bother by
the notion that entrepreneurs either deliberately searched for
entrepreneurial opportunities.
6. Vesper According to Vesper, to become a successful entrepreneur, we
should come up with best ideas by answering discovery
questions.

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.

2. Discuss the 3 externally focused sources for innovative opportunity according to

Drucker.
➢ Demographics (population changes)
▪ You can provide the needs and wants depends on the population.
 ➢ Changes in perception, mood, and meaning
▪ As you have a business, you must be aware that anytime people can
change their perception or mood on your business. Also, when you have
business you should come up a reason why you choose to have a specific
product.
➢ New knowledge, both scientific and nonscientific
▪ When you build a business, you need to think a product that is very
unique, something new that no one can imitate.

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

5. Discuss Murphy’s multidimensional model of entrepreneurial discovery.

➢ Murphy multidimensional model entrepreneurial discovery suggests that
opportunities may be identified; first, through a purposeful search; second
because others will provide the opportunity to the entrepreneur; third is through
prior knowledge, entrepreneurial alertness, and means other than a purposeful
search; and last, through a combination of lucky happenstance and deliberate
searching for opportunities.

6. What are the several ways in which entrepreneurs found ideas, according to Vesper?
➢ Prior job
➢ Recreation
➢ Chance event
➢ Answering discovery questions

7. How did Vesper categorized discovery questions?

 ➢ Search questions, which might prompt venture ideas by placing one’s mind into
a mode where the subconscious will work to push ideas into the conscious mind
➢ Questions based on encounters with a potential customer request, someone
else’s idea, or another event
➢ Questions based on evaluative reactions to ideas

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

9. Design a posted showing a graphical representation of Design Thinking. Explain your

poster in not less than 200 words.
 Building a small business like sari-sari store is not easy. Based on what I have observed,
there are lots of competitors that you will encounter like your neighborhood. But to become
successful in business, we should think for product that will suit to the needs of people. As you
can see, I choose pie chart because for me this is easier to explain the data information of the
most sale product. And according to my research in our neighborhood with sari-sari store, they
said that cigarette is most sale product and followed by others. This kind of strategy should apply
by the owners of sari-sari store so that they can maintain the sale growth and to have a bigger
income. If we will become a future entrepreneur, we should always think for best strategy to
have a better result.