Written Assignment: Bad Idea vs Good Idea
Write a paper using APA format for references, addressing items a), b), and c) in question 4 on page 156 of the text.
Be sure to use the information from the text and any other reference material needed to support your position.
Please double space your paper. Grammar, spelling, and punctuation do count. Your work must be original material; properly cite all quoted and/or paraphrased material in APA format. Provide at least one scholarly reference
4. The following two articles provide different view-points about the opportunity recognition process.
- "Where Really Bad Ideas Come From":http://www.inc.com/magazine/199804015/1115.html
- "Where Great Ideas Come From":http://www.inc.com/magazine/19980401/908.html
After reading these articles, answer the following questions.
(a) How are the sources of "bad" ideas different from sources of "good" ideas?
(b) What makes a bad idea? How does this compare to a good idea?
(c) What are the characteristics of good opportunities?
Book Info: Enterprise by William B. Garner, Marlene G. Bellamy
ISBN: 13: 978-0-324-78533-3
Here are some thoughts on the questions to help you with your paper:
1. Looking at the two articles it appears that ideas need to be developed and nurtured in order to succeed. Doug Monahan points out "I've learned more from my failures than I have from my successes" (Where Really Bad) and the article lists some of his bad ideas. They are bad ideas. If he had researched the market place it is unlikely he would consider charging people who found lost pets. Conversely, the good ideas share a commonality in that the CEO gets people together to go over the idea. Stephenson talks about developing Signature Seed, and states that he "started talking to people in the hallways" and talked about it with the sales manager, plant manager, and production people. He got everyone involved, which helped develop the idea better and successfully implement it. Another source of bad ideas is emotion. Moriarty was blinded by his emotions. He failed to sell needed partners on the program in order for the product to be a success. Erickson of Cliff Bar channeled his energy into Choclava, a labor intensive product that did not sell. ...
This solution outlines how the source of bad ideas differ from good ideas, what makes a bad idea compared to a good idea, and the characteristics of a good opportunity.
It is based on two articles from Inc Magazine, which is included.