Question

• Use strategies to locate, identify, and describe new ideas.
• Identify problems or issues that need a new solution.

Instructions

For the first four units of the course you will maintain an “idea journal”.

1. The journal can be a word file or whatever format is most suitable to you and agreed upon by the instructor.
2. The ideas will come from virtually anywhere. Look at situations that interest you and try to identify what problems may exist while thinking about how you might improve upon how things are done currently.
3. Each idea should be accompanied by a problem and how you can solve the problem or at least improve upon the current situation.
4. Try to come up with ideas that are possible based upon your experience and resources.
5. Developing a new rocket booster for space travel is not what I’m looking for.
6. Try to have a wide range of ideas. The assignment will be evaluated on the number of ideas, the diversity/flexibility of the ideas, and how clearly you articulate each idea.
7. You must submit the journal for review by the instructor at the end of Unit 4. When submitted, your journal must include no fewer than ten entrepreneurial ideas to get top marks.
8. Your ideas should be thoroughly outlined in an MS Word compatible format.
9. Submit your journal through electronic submission.
10. Students must present a minimum of 10 well-supported ideas.

Answer 1

Entrepreneurial ideas:

1) There is a need to address the inequality in society at this current state. The government should provide benefit by directly paying for the health or education to the respective institution so that the families don't spend such money elsewhere.

2) People are increasingly staying home and this has led to shops not being able to sell the merchandise. The shops should be on wheels so that the fixed costs reduce and the society is able to access the product range at their doorstep.

3) People are increasingly turning tech savy and need constant help in recording an instance. There should be a drone or a visual camera which follows the person everywhere and records so that half the effort of another human being reduces.

4) There is too much information circulating everywhere and people don't have the time to read everything, thus an application which summarizes the key points and keeps other excess information off the record to save time.

5) Reading authentic information online is the need of the hour. Governments should create a filter wherein the authenticity is checked so that the article is posted only after it is authenticated by a reliable source.

6) Consumption is going to slowdown with the pandemic in full swing and recovery expected to take time. The government should make all products available online so that consumers are able to buy it from home and there is no severe slowdown.

7) Travelling will be a big problem when the economies start to open up. There should be a mechanism wherein there is a limit in public places and online availability of how crowded a place is so that more people avoid going there.

8) Many developing nations don't have a uniform price for travel in remote locations. Due to monopoly many of them charge a higher price. There needs to be a price card so that no one is exploited and people know what the actual price is as per the meter for travel.

9) With technology in use, phones are increasingly being used and thus the battery consumption is high, phones which could be energised through solar energy, or other forms of renewable energy should be put in place to address this issue.

10) Many products go waste because of improper storage and facilities. Governments should create measures wherein such products which are expected to expire are served to homeless people and don't go waste, so that someone uses it if not anyone else.

11) Increase in technology usage is the need of the hour. There should be a mechanism wherein the more technology a company uses to improve efficiency, the more tax incentives it gets, so that products are of higher quality and can be recycled faster.