3.0) Idea
Generation and Evaluation
-Problems, Opportunities, Solutions
-Techniques for Generating Ideas
-Blue Ocean Strategy
This
topic emphasize on the characteristics and the path to be an entrepreneur
including the desire or determination
to be entrepreneur, idea or product to be produced and problem identification to be an entrepreneur.
Students are also exposed to the
Blue Ocean Strategy and the Red Ocean Strategy that to be applied as an entrepreneur. Blue Ocean
Strategy is Blue Ocean Strategy is a way to make the competition irrelevant by creating a leap in value for
both the company and its customers.
The
Red Ocean Strategy are all the industries in existence today—the known market space.
In the red oceans, industry
boundaries are defined and accepted, and the competitive rules of the game are known. Here companies try to
outperform their rivals to grab a greater share of existing demand. As the market space gets crowded, prospects
for profits and growth are reduced.
Products become commodities, and cut-throat competition turns the red ocean bloody. Hence, the term “red” ocean.
