Opportunity Identification Vs Opportunity Creation

I participated in a seminar on opportunity identification and opportunity creation. While preparing for this topic there is mostly research available related to identification of opportunities. There are even systematic models available how opportunities can be identified. It is also favored by researches as well as venture capitalists due to the reason that identified opportunities raise due to the market gaps, and it is easy for the investors to measure the level of risk related to filling that gap. Hence deciding to capitalize on the opportunity or otherwise.

The opportunity creation is what an entrepreneur has to do. In creation, there is not a lot research available. The reason is that risk can be calculated though financial tools like NPV etc however how can one measure the uncertainty. Due to the reason that whenever an opportunity is created while thinking out of the box, the level of uncertainty raises so much that very few people are will to invest in your venture. However now opportunity creation is becoming the focus of research where we are trying to focus that how new opportunities can be created instead of just identification.

Creativity in Staff and Organization

I have been working on a business plan for starting an electronic media advertising agency. Apart from the requirement of support staff the major question is who are the people going to be the part of organization as all the work in media industry is related to creativity. Also not only the creativity has to be visible in the work but as well as the organizational environment.
In order to foster a creative environment, leading to creativity in my organization, there are certain elements which should be there. For example there should be open communication among the employees which flows from the flatter structure of the organization. Also I have to focus on the fact that there are no prolonged procedures and paperwork involved when any one the organization has to do something. In fact the process has to be quick and easy.
Now when it comes to hiring the staff which will be more creative. There are certain steps which I have to follow certain steps

·What do I want this person to do? (the job description)
·What qualifications, skills, qualities and experience do I want them to have? (the person specification)
·What will I pay them?
·How can I recognize and practice diversity and equal opportunity?
·How am I going to find the right person?
·How will I handle the applications?
·What happens next? (the recruitment timetable)

Now I have to make sure about the diversity among the staff and team members. Diversity in terms of education, work experiences and the previous cultural background etc. this diversity leads to the creativity.

These are the general steps which organizations go through and may seem very generic in nature. But when applied to any different industry and market it provides a clear picture about 3Ws and 2Hs and answers the requirements which I have to fulfill.

Ref:http://www.skillset.org/companies/your_staff/hiring_staff/article_5653_1.asp

Creativity Module Articles

Jane Epstein has been appointed as a new manager at TechniCO. All the team members she has got at this place are supportive and also good performers. She is trying to catch the personalities of her team members. She is satisfied with all the members but one-Andy Zimmerman. He is the person who wants to be more authoritative and have the things done his own ways. He is used to humiliate the coworkers and subordinates over very small mistakes. This type of behavior may be necessary in some situations but he has developed a habit of such a behavior. As we see in the case of brainstorming session where only ideas have to be generated his aggressive behavior demolishes the whole work environment. On the other had he is one of the top performers of the organization.

The manager has tried to convey the message to him to change his behavior but there is no improvement. The problem is arising due to the fact that the manager seems to be afraid of using the positional powers she has. The lack of communication among the employees is leading to these problems. I once read in case related to Boeing Corporation, where the manager said that we always look for team performers and not the individual stars. The basic reason for this type of hiring, at Boeing, was that problems surface up immediately at initial stages and can be rectified there and then. Here I think in this situation, the communication part is missing. Sometimes boss has to tell, Who is the Boss? I think that part is missing and has to be communicated in order to resolve the situation otherwise it would lead to point where the organization may have to loss the start performer.

The article MBA Admission Criteria and an Entrepreneurial Mind-Set: Evidence From “Western” Style MBAs in India and Thailand by dean a. Shepherd and other authors has negated the GMAT as a criteria for being good MBAs. The article has provided an insight that people who score more on GMAT may become more risk aversive. On the other hand it relates work experience with learning. Learning through experience makes a person a good manager but the MBA education can even future enhance the capabilities and convert a good manager to a better one. I think this depends and varies from person to person. The education may provide a person with the basic outline and guidelines about the business and how to deal with the risk. But it all depends on the Micro and Macro culture in which a person is operating. It includes the culture of the organization and the region as well

The article “The Weird Rules of Creativity” by Sutton is very thought provoking article. It has compared the conventional ways of doing business with the creative ways. I think it focuses on a single point and that’s related to the diversification. You have to think out of the box for anything new. If you want success you don’t have to be afraid of failure and it will open new possibilities for you. Similarly the work force diversity is also necessary for idea generation. Initially this concept was thought to raise friction between employees but now the idea is how to use that friction for creativity.