PHYSICS 102 Lecture Notes - Lecture 17: Chocolate Cake, Market Analysis, Creativity
Document Summary
Entrepreneurs operate in complex and dynamic environments that are characterized by rapid, substantial, and discontinuous change. Successfully adapt to environmental changes this mindset involves: Ability to rapidly sense, act and mobilize, even under uncertain conditions. The opportunity must represent something new and the individual must recognize and evaluate this situation as a possible opportunity successful business idea. Is the individuals mental process to decide whether a signal represents an opportunity worth exploiting. Create creative mental leaps from your existing knowledge. Making new connections e. g. from existing technology to new market or vice versa. Applying combinations of (restricted) resources to new problems and opportunities. Taking existing resources and experimenting, tinkering, repackaging, and/or reframing them. Describes the extend to which entrepreneurs are dynamic, flexible and engaged in the process of generating multiple decision frameworks. Sensing and processing changes in their environments and then acting on them.
