Idea generation assignment
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Added on 2021-05-30
Idea generation assignment
Added on 2021-05-30
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Running head: IDEA GENERATION IDEA GENERATIONName of the studentName of the universityAuthor note
1IDEA GENERATIONExecutive summaryThe report is aimed at understanding the different aspects of the change in the industry, which isbased on the identification of the needs of the customers. The generation of a constructivebusiness idea has facilitated the development of the production process of the pen structuredwater purifier. The identification of the needs of the customers has helped in understanding thedifferent aspects of the modification in the systems of the product while administering thereliability and the utility of the product to the client’s needs. The report enumerates a businesscanvas model, which helps in the identification of the pros and cons of the design of the filteringdevice and the various marketing prospects of the same. The report also focuses on thesustainability and the feasibility of the business idea for its growth in the international markets.
2IDEA GENERATIONTable of ContentsIntroduction......................................................................................................................................3Customer or market problem that needs to be resolved..................................................................3Generation of a new business idea...................................................................................................4Persuasive arguments.......................................................................................................................5Proposed business model, i.e., OSTERWALDER & PIGNEUR....................................................6Critical success factors....................................................................................................................6Feasibility of the idea.......................................................................................................................7Conclusion.......................................................................................................................................7References........................................................................................................................................9Appendix........................................................................................................................................11
3IDEA GENERATIONIntroduction The customer or market problem is related to issue faced by the organization, due towhich, enabling innovation is essential for facilitating the production and enhance the quality ofproducts and services too. Collaboration and communication at work are considered as importantaspects of performance indicators to manage unique selling and promoting innovation andcreativity all throughout. The different aspects of the change in the functioning of the businessare supported through the generation of constructive ideas through brainstorming or fishboneanalysis. It helps the organization to bring in progression in its systems of the business. The report is aimed at understanding the capabilities of bringing in innovation sin theconsumer goods industry to maintain their sustenance in the markets. The generation of an ideafor a pen structured water purifier has helped the industry in supporting the needs of thecustomers who goes round the globe. The purifier is portable and informs the user of thesalinityor the heavymetalcontents in the water. Identification of the needs of the customershas helped the industry to bring in changes in the line of products through continuous innovation.The continuous innovation of the business is backed by the generation of the business idea,which helps in coping up with the needs of the customers in the business. Customer or market problem that needs to be resolvedThe customer or the market problems that might be faced by the industry while bringingin the product in the market is to promote the same and to convince the people to make a buy ofthe product based on the utilities (King & Baatartogtokh, 2015). The different issues that mightbe faced by the industry while marketing the product is due to the lack of identification of the
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