Enterprise lecture 3

Value: What are you worth?

Drucker (1985) argued that innovation is the tool of entrepreneurship.

Mihaly (1997) Creativity is the ability to make or otherwise bring into existences something new, whether a new solution to a problem, a new method or device, or a new artistic object or form.

Philip Kotler

Professor kotlers book, marketing management.

C – Creating

C – Communicating

D – Delivering

V – Value

T - To a targer market

P – for Profit

Maslows hierarchy of need:

Design is applied psychology

Where is the money?

Greatest human needs = greatest market potential:

·      Food industry

·      Housing

·      Utilities

·      Medicine

·      Transport

·      Construction

·      Insurances

·      Water

·      New technologies

Reduced human needs = lower market potential:

·      Organic farming

·      Holiday cottages

·      Home insulation

·      Health spa

·      Luxuries

Where does the money go?

A value Proposition

Overall aims

Specific Aims, these set out the difference we hope to make

Objectives, these set out how we plan to go about achieving our aims

BBC missions and values

Our mission

To enrich peoples lives with programmes and services that inform, educate and entertain.