project generation ideas
Q 14
Identification of a new project is a complex problem. Project selection process starts with the generation of project ideas. In order to select the most promising project, the entrepreneur needs to generate a few ideas about the possible project one can6 undertake. The project ideas as a process of identification of a project begins with an analytical survey of the economy (also known as pre-investment surveys). The surveys and studies will give us ideas.
Generation Of Ideas• Most of the project ideas involve combining existing fields of technology or offering variants of present product or services.
Stimulating The Flow of ideas• SWOT Analysis clear articulation of objectives
Cost reduction
Productivity improvement
Increase in capacity utilization
A clear articulation and prioritization of objectives helps in channelizing the efforts of employees and production them to think more imaginatively.
Fostering The Conducive Climate
To tap the creativity of people and to harness their entrepreneurial skills, a conducive organisation climate has to be fostered. Two conspicuous examples of organisation which have been exceptionally successful in tapping the creativity of employees are the Bell Telephone Laboratory and the 3M
Corporation. While the former has succeeded in harnessing creativity by providing an unconstrained environment, the latter has effectively nurtured the entrepreneurial skills of its employees as sources of idea generation. The project ideas can be generated from various internal and external sources.
• Knowledge of market, products, and services,potential customer choice.
• Emerging trends in demand for particular product.
• Scope for producing substitute product.
• Market survey & research.
• Going through Professional magazines.
• Making visits to trade and exhibitions.
• Government guidelines & policy.
• Ideas given by the experienced person.
• Ideas by own experience.
Monitoring The Environment
Firm
Identification of a new project is a complex problem. Project selection process starts with the generation of project ideas. In order to select the most promising project, the entrepreneur needs to generate a few ideas about the possible project one can6 undertake. The project ideas as a process of identification of a project begins with an analytical survey of the economy (also known as pre-investment surveys). The surveys and studies will give us ideas.
Generation Of Ideas• Most of the project ideas involve combining existing fields of technology or offering variants of present product or services.
Stimulating The Flow of ideas• SWOT Analysis clear articulation of objectives
Cost reduction
Productivity improvement
Increase in capacity utilization
A clear articulation and prioritization of objectives helps in channelizing the efforts of employees and production them to think more imaginatively.
Fostering The Conducive Climate
To tap the creativity of people and to harness their entrepreneurial skills, a conducive organisation climate has to be fostered. Two conspicuous examples of organisation which have been exceptionally successful in tapping the creativity of employees are the Bell Telephone Laboratory and the 3M
Corporation. While the former has succeeded in harnessing creativity by providing an unconstrained environment, the latter has effectively nurtured the entrepreneurial skills of its employees as sources of idea generation. The project ideas can be generated from various internal and external sources.
• Knowledge of market, products, and services,potential customer choice.
• Emerging trends in demand for particular product.
• Scope for producing substitute product.
• Market survey & research.
• Going through Professional magazines.
• Making visits to trade and exhibitions.
• Government guidelines & policy.
• Ideas given by the experienced person.
• Ideas by own experience.
Monitoring The Environment
Firm