Question
These are convenient frames of reference for streamlining the process of generation of ideas. Identify them and explain any three briefly.
OR
Explain in detail idea fields. nin detan fed fields.

OR
Examine the sources from where business ideas emerge.

Answer


Idea fields are the convenient frames of referenee for streamlining the process of generation of ideas. This enlarges the scope of thinking. They are the broad areas from where the ideas can be generated. First a broader horizon is selected and then the ideas are streamlined into that direction. The different idea fields may be;
  1. Natural resources A product or service may be desired from forest services, agriculture, horticulture, mineral, marine or aqua-minerals, animal husbandry, wind, sun and human resources. Further it can be streamlined, e.g. in horticulture, we can generate numerous ideas for food preservation, canning, freezing, juices, squashes, pulps, crushes(strawberry crush), jams, pickles, etc.
  2. Existing products or services There is always a scope for constant improvements in the existing products to make thein better or to reduce their prices, e.g.
Products Televisions have been revolutionised by constant improvements. From simple B/W TVs to LED, full HD TVs, 3D TVs and now curve TVs.
Services Even in service industry, new techniques and strategies are developed.
Education Phonetics, Lingua phone, more practical approach, web-based teaching, teaching through smart classes by developed lesson modules are some of the changes taking place.
  1. Market driven or demand driven ideas Generally, the demand/consumption pattern, consumer preferences, spending patterns, etc can be gathered through market research. However, it is not feasible for small entrepreneurs to take up costly research, but they can take help of report of market surveys conducted by professional agencies. e.g. Mc Kinsey has done a consumer survey which predicts that India will become target consumer market by 2025 and the spending patterns of personal products is 8% in 2005 and expected to rise to 11% by 2025. Thus, this gives a good idea that we can proceed in this sector.
  2. Trading related ideas Trading is buying of goods and services and selling them at a profit to consumers. e.g. open a chain store like Sabka Bazaar, Metro, etc., e-commerce like Flipkart, OLX, Amazon, etc.
  3. Service sector ideas Service sector is the most growing field these days. The reason being emerging of knowledge societies and advancements in information and technology. e.g. restaurants with specific features, party halls with theme arrangements, etc.
  4. Creative efforts Creativity is used to spot and harness opportunities. It can also be applied to develop new products and services. Ideas can be generated to:
  1. Develop a new product.
  2. Improve an existing product.
  3. Find a new process or raw material.
  4. Find a new use.
  5. Find new markets.

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