IGNOU MER-003 Business Ideation and Opportunity Identification | Guess Paper | Important Question Answer |Master of Arts (Entrepreneurship) (MAER)(Paperback, BMA Publication) | Zipri.in
IGNOU MER-003 Business Ideation and Opportunity Identification | Guess Paper | Important Question Answer |Master of Arts (Entrepreneurship) (MAER)(Paperback, BMA Publication)

IGNOU MER-003 Business Ideation and Opportunity Identification | Guess Paper | Important Question Answer |Master of Arts (Entrepreneurship) (MAER)(Paperback, BMA Publication)

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Introduction to Business Ideation: The course begins by introducing students to the concept of business ideation, which involves the generation and exploration of new business concepts. Students learn about the importance of creativity and innovation in the entrepreneurial process.Understanding Market Trends and Needs: Students learn how to analyze market trends and consumer needs to identify gaps and opportunities for new businesses. They explore techniques for conducting market research, including surveys, interviews, and trend analysis.Problem-Solving and Solution Development: The course covers techniques for identifying problems and challenges faced by consumers or businesses and developing innovative solutions to address them. Students learn about design thinking and brainstorming methods for generating creative ideas.Customer Discovery and Validation: Students learn how to validate their business ideas by engaging with potential customers and stakeholders. They explore techniques for conducting customer discovery interviews, gathering feedback, and refining their business concepts based on customer insights.Business Model Canvas: The course introduces students to the Business Model Canvas, a strategic management tool for developing and visualizing business models. Students learn how to use the canvas to outline key components of their business ideas, including value proposition, customer segments, revenue streams, and cost structure.Lean Startup Methodology: Students learn about the Lean Startup methodology, which emphasizes rapid experimentation, iterative product development, and validated learning. They explore techniques such as Minimum Viable Product (MVP) development and pivoting to adapt their business ideas based on feedback and market validation.Creativity and Innovation Techniques: The course covers techniques for stimulating creativity and innovation in the ideation process. Students learn about ideation exercises, such as mind mapping, SCAMPER, and role-playing, to generate novel business concepts and explore alternative solutions.