DIVERGENT THINKINGDIVERGENT THINKINGDIVERGENT THINKINGDIVERGENT THINKING

DO DO NOTNOT CRAYON WITHIN THE CRAYON WITHIN THE LINESLINES

Thinking outside the Thinking outside the BoxBox

Thinking outside the Thinking outside the BoxBox

Teresa V. Menzies Ph.D.Teresa V. Menzies Ph.D.Faculty of BusinessFaculty of Business

Brock UniversityBrock University

Your Package ContentsThe PMI – Plus, Minus, Interesting.The APC –Alternatives,

Possibilities, choices.The 6 Thinking Hats.The Creative Fork.A New Paint Product.Outer Space.

Mind Maps

Developing SkillsTorrance Test of Creative

Thinking.Life of a Bookworm Exercise.Making the Strange Familiar.The 9 dots Revisited.Killer Phrases: The Top 40.

Firm Birth

Quit

On Hold

Venture Concept is born

a) Fit with personal attitudes & behaviors. (personal traits, characteristics, desires within framework of social norms)b) Fit with personal capabilities (real or imagined, measured by self efficacy).

Feasibility StudyPerceptions about the

Opportunitya) Informal, elementary, perhaps solitary. If promising, go to (b)b) Formal feasibility, wider scope, more formal, sustained effort, usually involving networking, sharing of ideas. Concept is cameleon-like, evolves to changing environment

Formal/Informal Business Planninga) Industry research & analysisb Market research & analysis including competitive analysisc) Economics of businessd) Marketing e) Design & Developmentf) Operationsg) Teamh) Critical risksi) Financial plan

Informal and Formal Networking Activities

Continual Reflection on Self Efficacy and Co-Efficacy of Potential Instrumental Actors Continual Reflection on the Risk/Reward Ratio – Also an Opportunity Cost Assessment

Model of Venture Concept and Pre Launch Activities©Menzies 2003

Forget the Trait Approach

No “one” type of entrepreneurial personality.

Researchers have now abandoned the old fashioned approach of filling out a quiz to see if you have a penchant for becoming an entrepreneurs.

Please do NOT discourage students in this way.

Range and Variety of “Entrepreneurs”

Just a few examples:

Former Business Teacher: Frank O’Connor, Batchawana Bay.

Now motel & restaurant owner and aims to grow with additional motel purchase.

Ben Barry Agency Started-up in Grade 11. Accidental start-up – helped

his friend get a modeling job. Fashion editor assumed he was an agent.

Innovating – represents models of all ages, sizes and ethnicities.

"Business does not just have to be about profit. It can also be about ethics, values, and morals. What's key

is that we wake up everyday and try to make a difference in our world"

Tour East Holidays Inc Traveled to Canada from

Hong Kong with plans to study.

Saw an opportunity to start a business when she saw how difficult it was to fly home for the holidays.

Used connections within the Chinese community to found business.

Revenue: $200 million +

Loony Lizards

Jackie Kevill from St Catharines.

Rock bottom prices without the dumpy dollar-store image.

25 store franchise, with corporate sales of $20m+ in 2000..

•To keep the $1 price tags, stores are limited to 3, 000 square feet and the stores don’t advertise.

Cirque du SoleilFounder Guy Laliberte. Idea – as one show

toured, another would be in development. At first many people left because they wanted to be in both shows!

Annual revenues are $500 million+

Has adapted the circus concept in a contemporary way.

West 49Started by 50 year old Sam Baio who has a passion for board sports.

As of 2003 had 50 Canadian and 3 US stores.

Spends a lot of money on marketing initiatives and supporting parks and events.

Partner with Ken Fowler.Interesting Fact – moved to St Catharines, Ontario in

1972 where he worked a variety of retail jobs and continued to skate

Action-Based Learning

Teamwork & Taking the Top Awards

across Canada:

“Entrepreneurship related”

Business Plan Competitions

Gold, Silver, Bronze,

Best Presentation etc.

Winners:Best Presentation 1997 National Queen’s Business

Plan Competition

Angela Corke, Kara Zuercher,

Frank Lin, Andrew Suggitt.

Microverse: Vegetarian cookbook on CD.

Winners of Gold Award at 1999 National Queen’s Business Plan

Competition

Jamie Lauzon, Rich VanderWal,

Robert Gottschalk.

Evolution Wheelchair

Winners of Bronze Award 2000 National Queen’s Business

Plan Competition

Warren SheridanMark Yseldyk

Sanigard

Winners of Silver Award 2002 National Queen’s Business Plan

Competition

No Photo.

Trailblazing Blue Mountain

Adam and Mark

Finalists at National Queen’s Business Plan Competition

Laura Nimeth and Clare Severn

Celiac Foods

Did not place in top 3.

Nicol@brock 2006

http://www.bus.brocku.ca/current/nicol/

QEC 2006.

CompetitorsCommitment to going beyond just what is

expected or acceptable.Hard Work, Creativity, ExcellenceIntegrity, HonestyTeamwork, NetworkingEnhanced their Brock Degree, “Image”.Receive payback, variety…..

Your StudentsAre there similar opportunities?

Any Questions?