Practicing Success
Practicing Success
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| Nishit has just completed his B. Tech. and wants to start his own business. He knew that the demand for electricity in India was increasing day by day, whereas its generation was not sufficient.Nishit shared his views with some of his friends and they all decided to start the business of electricity generation. They experimented with various methods and ultimately succeeded in electricity generation through garbage. They all were very happy as India is also facing the problem of garbage disposal. Identify the source of 'Idea-field' from where the idea had been generated by Nishit and his friends. |
Market driven or demand driven Trading related Natural resources Creative efforts |
| Creative efforts |
| Creative efforts: Creativity is an important and key component of the talents and abilities needed for an entrepreneur. Apart from applying creativity to spot and harness opportunities, it can also be applied to develop new products and services. There are basically five ways in which creative ideas can be generated: 1. Develop a new product or service. 2. Improve an existing product or service 3. Find a new process or resource for manufacturing a product. 4. Find new markets for existing products or services. 5. Find a new use of an existing product or service. |
