CHAPTER

02
ENTREPRENEURIAL
IDEAS, CREATIVITY AND
INNOVATION

BY: MISS AISHAH BT ABDUL GHAPAR

AKA MISS GOJES
 DEFINITION OF ENTRPRENEURIAL
IDEAS AND OPPORTUNITIES
A business idea or opportunities is a business
concept that result in profits if it is turned into a
tangible product or services.

Opportunity is also defined as the potential to

create something new that involves changes in
knowledge, technology, economy, politics, social
and demographic conditions.

BY: MISS AISHAH BT ABDUL GHAPAR

AKA MISS GOJES
 Sources of Entrepreneurial Ideas
01
Primary
Sources
First hand data/ information gathered through
observation, experiments, interviews and surveys
Known as a field research involves conduction and
compilation of research
Cost is expensive
02
Secondary
Sources
Second hand data gathered through magazine, books,
company data and annual report. Sometimes sources
are outdated and outmode. Known as library
research. Involve gathering data that have already
been compiled and are available, free or at a
reasonable price.
BY: MISS AISHAH BT ABDUL GHAPAR
AKA MISS GOJES
 PRIMARY SOURCES
Information gathered directly through:
Observation Experiments Interviews Surveys

Data gathered by Product sampling Field research Short questionnaire

observing and covers interview
recording the with customers,
respondent’s supplier,
actions in an competitor and
activity. industry experts.
Conducted by
personal interview
or telephone
interview BY: MISS AISHAH BT ABDUL GHAPAR
AKA MISS GOJES
 SECONDARY SOURCE
Information gathered from

Reliable References Mass media and

existing data electronic
Publish information
Venus from library and media
Information internet Information in the
obtained from newspaper,
annual report magazines, internet
and ect.

BY: MISS AISHAH BT ABDUL GHAPAR

AKA MISS GOJES
Creative
Thinking
Technique
A way of looking at
problems or situations
from a fresh perspective.
Creative thinking can be
stimulated by structured
and unstructured process

BY: MISS AISHAH BT ABDUL GHAPAR

AKA MISS GOJES
Types of Creative Thinking Technique

Brainstorming Focus Group Survey Mind Mapping Lateral Thinking

A small group but

demographically
diverse group of
Known as A method of A network diagram
people and whose Requires a person to
conference gathering that is used to
reactions are explore the
technique, allows information from a generate related
studied especially in possibility of new
people to be sample of people ideas , concepts,
market research in solutions to a
stimulated to a (data), traditionally structure,
guided or open problem from a
greater creativity by with the intention of classification, task
discussions about different approach
meeting with others generalizing the or any critical issues
new product or or perspective.
and participating in results to a larger to a central key
something else to
organized group population. word or idea.
determine the
experience
reactions that can be
expected from a
larger population

BY: MISS AISHAH BT ABDUL GHAPAR

AKA MISS GOJES
 Process in recognizing, analyzing and choosing a business
opportunity

(a) Recognizing (e) Matching societal values,

( c) Performing Self- community’s response or
customer needs and
assessment people’s acceptation
wants

(f) Preparing or
(b) Analyzing or scanning the (d) Screening or choosing of constructing a business
environment business opportunities plan

1) Demographics, population 1) Experience 1) Competition

structure, income and taste,
Study on local resources 2) Knowledge 2) Legality
2) New government policies and
regulations, Import and export 3) Skills 3) Capital
data
3) Development projects by the 4) Financial ability 4) Risk
public and private sectors
4) Technological breakthrough 5) Interest
5) Mass media and electronic
media 6) Networking BY: MISS AISHAH BT ABDUL GHAPAR
AKA MISS GOJES
 Business Modal
Canvas (BMC)
A one-page summary
describing the high-level
strategic details needed
to get a business (or
product) successfully to
market.
BY: MISS AISHAH BT ABDUL GHAPAR
AKA MISS GOJES
Step By Step To Use The Business
Model Canvas Template (from BisKit)

0
08 06 02 05 011
START

07 04

09 03
DONE !

Source: https://www.strategyzer.com/canvas/business-model-
canvas BY: MISS AISHAH BT ABDUL GHAPAR
AKA MISS GOJES
 Step by step BMC
Customer Segment (CS)
List the top 3 segments which
provide the most revenue.
01 02
Value Preposition (VP)
What are your products and
services?
(from BisKit)
Revenue Streams (RS) Customer Relationship (CR)
List the top 3 RS + things you do How does this show up and
for free maintain the relationship?
03 04 05
Key Resources (KR) Cost Structure (CS)
The people, knowledge, means List the top costs by looking at
Channels (C) and money. activities and resources.
How do you communicate and
deliver the VP
06 07 08 09
Key Activities (KA) Key Partners (KP)
What do you do every day to run List the partners that you can’t do
your business model? business without.
03
BY: MISS AISHAH BT ABDUL GHAPAR
AKA MISS GOJES
 Sample: First Place Winning Team in BMChallenge 2019 v 2.0
(from BisKit)

▪ Food promotion ❖ Tester package o PKK students

✓ Bataras (online & offline) ➢ Combination Buy 5, free 1 & lecturer
Hypermarket ▪ Preparing of two ❖ Buy 3 for RM5/1 (Age:18-45
✓ COD Runner chicken marinades premium box years, Men 40%
✓ PKK Kiosk ▪ Frying chicken cheese ❖ Redemption & Female 60%)
▪ COD ➢ Chicken coupon; entitle o Nearby areas –
marinades for 50% discount ILP, IKM, UiTM,
secret recipe SSTC
➢ One bit size
➢ Affordable Ω Kiosk
price Ω Social media *ILP ( Institut Latihan
➢ Convenient Perindustrian)
Ω Facebook IKM (Institut Kemahiran
packaging (Page) MARA)
Ω Instagram UiTM (Universiti
Teknologi MARA)
Ω Whatsapp SSTC (Sabah Skills &
*PKK (Politeknik Kota Ω COD Technology Centre)
Kinabalu)

∞ Cheese powder
❑ Fixed - kiosk rental
∞ Chicken marinades
❑ Variable – salary, raw materials, packaging,
∞ COD fees
marketing cost, transportation cost, internet
∞ Kiosk rental (share) – vendor service
bill
∞ Banner service

BY: MISS AISHAH BT ABDUL GHAPAR

AKA MISS GOJES
 FIRST
ASSESMENT

BY: MISS AISHAH BT ABDUL GHAPAR

AKA MISS GOJES