Idea generation is the fundamental aspect of creativity and problem-solving. It depends upon the individual’s perception, experiences, attitudes, and ability to do. It varies from individual to individual. It could be possible with the collection of various information and opinions. There are different sources of idea generation, which helps to create new and unique ideas.
Sources of Idea Generation
Its sources could be expressed as follows.
Situation Survey
The situation survey is concerned with external environment analysis. It is mainly focused on outdoor information collection related to businesses. The external environment survey consists of technology changes, legal changes, social changes, economic changes, etc.
Technology Changes
Technology is prominent to support the task of the business. It is demanded by the customers desire changing and quality of products. Ideas are based on technology uses, it pays attention to establishing ideas into reality. Nowadays technological changes affect the business directly.
Legal Changes
Legal changes are also influencing the business environment. Legal rules and provisions provide a set of different ideas. Based on the provisions businessmen define their budget and make plans to perform their task as the required condition. Through the liberalization at the present situation, government policy promotes the private sector, for business venture ideas. The government provides tax concession, subsidy facilities, location facilities, and other so on for new business ideas.
Social Changes
Social changes are also a prominent source for idea generation. Its diversity divides the customer demands as the social value. Its changes are useful for knowing about the consumers’ tastes, preferences, and demands for goods and services. It provides opportunities for creating new business ideas. The study of social changes provides information about the nature of customers. Customer satisfaction is the key factor of the business. In this manner, entrepreneurs increase their study about it and cultural rules for idea creation. Best ideas support the business expansion.
Economic Changes
Every state’s or country’s economic change condition provides meaningful information for the idea creation. Entrepreneurs follow the fiscal and monetary policies related to their businesses. The economic development of the country has a positive impact on business activities. All the economic rules regarding the venture creation are important for new idea generation.
Work environment
The work environment consists of the business people’s objectives, goals, mission, and vision which provides entrepreneurs with ideas. All the functions of business are done according to meet the defined targets of the business venture. Entrepreneur’s quality, ability, experience, and interest also provide business ideas. Their uniqueness, creativity, innovation, and strengths support to generate new venture ideas.
Research and Development
The researcher surveys all the factors that affect the businesses and develops a defense strategy from the idea generation. Different sorts of researchers and developers find out new product ideas for the business venture. They use important sources to find clues for meaningful product development. It provides everyday new and unique opinions to follow the market rules and it helps to generate suitable business ideas. They research the market, customers, policies, environment, social changes, and also about the business people, and develop new business ideas by analyzing all the factors. It supports business status stay for the long term.
Customers’ demands are changeable at times changes. To fulfill customer desires competent entrepreneurs adopt new ideas and techniques as the customer demands. If customer desires cannot be fulfilled business will ruin as soon as.
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Emotions and Intuition
Emotions and intuition support to generation of new ideas, guiding them towards the concept of their ability. It plays a strong role in the creation of ideas and sets them into reality. It increases the personal level of entrepreneurs to develop unique ideas for the development of their businesses. Emotional instincts expand the thinking level of the businessmen and every new and unique idea expands the business market.
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