Lecture

Identifying & Evaluating Business Opportunities

Graph Chat

Chat with Graph Search

Ask any question about EPFL courses, lectures, exercises, research, news, etc. or try the example questions below.

DISCLAIMER: The Graph Chatbot is not programmed to provide explicit or categorical answers to your questions. Rather, it transforms your questions into API requests that are distributed across the various IT services officially administered by EPFL. Its purpose is solely to collect and recommend relevant references to content that you can explore to help you answer your questions.

Description

This lecture explores the key factors affecting opportunity identification, including prior knowledge, alertness, cognitive flexibility, and creativity. Examples such as IKEA and EndoArt are used to illustrate these concepts. The importance of broadening one's vision on the opportunity landscape and linking technology with market opportunities is also discussed.

In MOOC

Launching New Ventures

Sharpen your “entrepreneurial mindset”. Launching New Ventures, a course about Entrepreneurship & Strategy for Technology-Driven Startups, is designed for professionals, entrepreneurs, and students who want to learn about how to successfully launch a new business. Through short, animated lectures, inspiring interviews with successful entrepreneurs from around the world, quizzes and suggested readings, students will gain a broad overview of entrepreneurship strategy with insights they can apply to their ven

Official source

Related concepts (16)

Strategic planning

Strategic planning is an organization's process of defining its strategy or direction, and making decisions on allocating its resources to attain strategic goals. Furthermore, it may also extend to control mechanisms for guiding the implementation of the strategy. Strategic planning became prominent in corporations during the 1960s and remains an important aspect of strategic management. It is executed by strategic planners or strategists, who involve many parties and research sources in their analysis of the organization and its relationship to the environment in which it competes.

Strategic management

In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of resources and an assessment of the internal and external environments in which the organization operates. Strategic management provides overall direction to an enterprise and involves specifying the organization's objectives, developing policies and plans to achieve those objectives, and then allocating resources to implement the plans.

Strategic thinking

Strategic thinking is a mental or thinking process applied by an individual in the context of achieving a goal or set of goals. As a cognitive activity, it produces thought. When applied in an organizational strategic management process, strategic thinking involves the generation and application of unique business insights and opportunities intended to create competitive advantage for a firm or organization. It can be done individually, as well as collaboratively among key people who can positively alter an organization's future.

Cognitive bias

A cognitive bias is a systematic pattern of deviation from norm or rationality in judgment. Individuals create their own "subjective reality" from their perception of the input. An individual's construction of reality, not the objective input, may dictate their behavior in the world. Thus, cognitive biases may sometimes lead to perceptual distortion, inaccurate judgment, illogical interpretation, and irrationality. While cognitive biases may initially appear to be negative, some are adaptive.

Knowledge management

Knowledge management (KM) is the collection of methods relating to creating, sharing, using and managing the knowledge and information of an organization. It refers to a multidisciplinary approach to achieve organizational objectives by making the best use of knowledge. An established discipline since 1991, KM includes courses taught in the fields of business administration, information systems, management, library, and information science. Other fields may contribute to KM research, including information and media, computer science, public health and public policy.

Related lectures (24)

Agile Focus Strategy: Market Opportunity Navigator MOOC: Find the right markets for your innovation - A tool for entrepreneurs and innovators for choosing which markets to play in.

Discusses designing an Agile Focus Strategy by selecting a Primary Market Opportunity and evaluating market options using the Attractiveness Map.

Basics of Strategy & Value Proposition

Explores the basics of strategy, market positioning, and the value proposition, emphasizing the importance of a compelling value proposition.

Market Opportunity Navigator: Implications and Benefits MOOC: Find the right markets for your innovation - A tool for entrepreneurs and innovators for choosing which markets to play in.

Introduces the Market Opportunity Navigator, a tool for innovators and entrepreneurs to evaluate which markets to play in.

Strategic Analysis of Air Transport Industry

Offers a strategic analysis of the air transport industry, examining key companies and providing insights for future success.

Market Opportunity Navigator: Business Tools Integration MOOC: Find the right markets for your innovation - A tool for entrepreneurs and innovators for choosing which markets to play in.