Opportunity Analysis Canvas_Acting Entrepreneurially

Cirque de Soleil's shift from animals, candy and beverage concessionaires in the aisles, and feature performers to a live theater, operatic-style format exemplifies this type of value innovation

• Raise

• Reduce

• Create

• Eliminate

Skype's online platform for an easier experience for video conference users who do not need to setup and manage equipment, software, and networking systems exemplifies this type of value innovation

• Raise

• Reduce

• Create

• Eliminate

The Nintendo Wii console's focus on fun, simplicity, and interactivity exemplifies this type of value innovation

• Raise

• Reduce

• Create

• Eliminate

Wikipedia's engagement of readers and the public in developing content, with an emphasis on timeliness and the breadth of content, exemplifies this type of value innovation

• Raise

• Reduce

• Create

• Eliminate

Entrepreneurial opportunities become real when you have a solution that leverages your advantages to solve an important problem for others

• True

• False

Key questions for opportunity identification are (Check all that apply)

• Does your solution create value for your stakeholders?

• Is the problem real?

• Can you build the right team at the right time?

• Is your advantage superior and sustainable?

Segmenting the market based on their needs, geography, demographics, psycographics, and other factors, enables entrepreneurs to: (Check all that apply)

• Determine who is most desirable to serve first?

• Identify key market segments to focus limited time and resources on

• Focus on capturing the served market

• Minimize diluting resources across multiple segments

Sustainable competitive advantage is influenced by (Check all that apply)

• A product or service with better features or functions

• A rareness factor, meaning that competitors cannot offer the same set of values to this customer

• A lower price for the customer based on the value created for them (due to your operations or other cost control strategies)

• A commitment to converting competitors' customers

The principles of value innovation enable innovators to understand which issues? Check all that apply

• What existing factors can you eliminate?

• Where can you reduce factors and not reduce value?

• Which factors can you raise above competitors?

• What new factors can you create?