Sound Business Idea – an economic opportunity which is within reach of the entrepreneur and which will provide him with a desirable value.
2. Creative Process, explain each stage
Creativity – the reorganization of experiences into new configurations. This has an important role in the formulation of a sound business idea. The Creative Process
a. Preparation – the collection of two or more large bodies of information that become associated with new and unique ways is undertaken.
b. Incubation – the creative person relaxes and withdraws from the intense preparation period. It means getting out of the situation and observing it at a distance after sufficiently relaxing.
c. Insight – this occurs when the creative individual discovers new associations and patterns which provide a useful solution to a problem.
d. Verification – involves testing, refining, demonstrating and communicating the creative ideas during the insight phase
3. Elements of Creativity
a. Drive – the motivation or willingness to repeat a process until the answer to a problem is obtained. Successful inventors did not succeed in their first try.
b. Fluency – the ability of the creative person to come up with a lot of ideas regarding the problem under consideration. Example “ how one will cross a certain river” . boat, swim, bridge. etc.
c. Flexibility – thinking beyond a certain category ideas. Example catching fish with electricity powered by battery beyond the usual net.
d. Originality – ability to consider the use of unusual and rare ideas. The use of sealants, before GI roofs are replaced even with only a hole in it.
e. Awareness – the ability to see unusual connections between objects and things. Ex.