SOURCE OF

ENTREPRENEURIAL
IDEAS
 LESSON OBJECTIVES
• DESCRIBE THE PROCESS, INVOLVED
IN THE CREATION OF A NEW
ENTREPRENEURIAL VENTURE AND
• IDENTIFY THE POSSIBLE SOURCES
OF ENTREPRENEURIAL IDEAS.
• FIGURE 1.7.1 THE ENTREPRENEURIAL PROCESS OF CREATING A NEW VENTURE

Opening of
Creation of Identification
of entreprene
Entreprene
Entrepreneuri urial
urial idea al activity venture
THE FOLLOWING ARE THE GOOD SOURCES OF
ENTREPRENEURIAL IDEAS:
1. CHANGE IN THE ENVIRONMENT
2. TECHNOLOGICAL DISCOVERY AND
ADVANCEMENT
3. GOVERNMENT’S THRUST, PROGRAMS AND
POLICIES
4. PEOPLE INTEREST
1. CHANGE IN THE ENVIRONMENT:
EXTERNAL ENVIRONMENT
•PHYSICAL ENVIRONMENT
•SOCIETAL ENVIRONMENT
•INDUSTRY ENVIRONMENT
PHYSICAL ENVIRONMENT:
•CLIMATE
•NATURAL RESOURCES &
•WILDLIFE
SOCIETAL ENVIRONMENT
•ECONOMIC FORCES
•SOCIOCULTURAL FORCES
•POLITICAL FORCES
•TECHNOLOGICAL ENVIRONMENT
INDUSTRY ENVIRONMENT
•GOVERNMENT
•COMPETITORS
•SUPPLIER
•CUSTOMER CREDITORS
•EMPLOYMENT
2. TECHNOLOGICAL
DISCOVERY AND
ADVANCEMENT
3. GOVERNMENT’S THRUST,
PROGRAMS AND POLICIES
4. PEOPLE INTEREST
5. PAST EXPERIENCE