DEVELOPING IDEAS FOR BUSINESS ENTERPRISE

DEVELOPING IDEAS FOR BUSINESS ENTERPRISE

Business enterprise

Developing Ideas for Business Enterprise

Preamble

A Business enterprises is a vehicle through which ideas are transformed into realizable actions geared towards the satisfaction of societal needs. It involves the processes, resources and structures for the transformation of ideas into actions, first aimed at satisfying the society’s needs and consequently the business enterprise owner’s needs.

In Mark 10:44, our Lord Jesus Christ outlines service to others (satisfying others needs) as the pivot for one’s personal greatness. He also emphasized that one’s faithfulness in trying to serve others will eventually lead to the satisfaction of one’s needs (Luke 16:10-12). We can then conclude that the development and adequate incubation of business ideas, which will lead to the rendering of services to the society, by individuals will in no small measure help in the reduction of unemployment in our society today. Hence a foray into the realm of idea incubation and development becomes indispensable if we must raise Christians who must shine fort and influence their society for God.

We can break Idea development process (or IDEATION) into three different stages –

• Uncovering the Ideas that Satisfy Social Needs (Idea Generation)
• Conceiving the Incubation Process Suitable for Satisfactory Nurture (Idea Incubation)
• Communicating the Ideas for the Satisfaction of Society’s Needs (Idea Communication)

Uncovering the Ideas that Satisfy Social Needs (The needs to be satisfied by the business enterprise)

Genesis 41:15, 16; Deuteronomy 29:29; Psalm 25:12-14; Daniel 2:16-19,47

Idea generationThe first step is to locate, identify and fine-tune ideas that form the basis for a new business venture. Identification of ideas can be achieved by asking the following questions:

• What skills do I have to offer to the society?
• Are there any gaps in the market I have to fill?
• Do I have a hobby that I can turn into a business?
• Have I ever had a need that nobody was able to satisfy?
• Are there new technologies that I can exploit to solve old problems in better ways?
• Are there better ways I can use in solving current problems?

The type of ideas and business ventures one can be engaged in would be determined by answers to these questions. Yet it should be noted here that Divine inspiration and intervention is indispensable for one to arrive at the right answers.
The Ideas so generated can then be subjected to various tests to determine their applicability and sustainability in the economy. These tests include but are not limited to the following:

• Brainstorm: Brainstorm your idea with friends, brethren, colleagues or staff – they can offer different slants to the idea. They may also know others who may be working on the same ideas.
• Research: conduct a market research to discover whether your idea fills a gap in the market.
• Exploit: think about how your idea can take advantage of new opportunities.
• Sustainability: consider the effect of social trends on your ideas. Will the idea stand the test of time? Will it require some future modification for its sustainability?
• Economy: can it be achieved at a cost which will be commensurate with the value it will add to the prospective customers?
• Competition: what competition is the idea going to face.

Conceiving the Incubation Process Suitable for Satisfactory Nurture (Designing the structure of the business enterprise)

Genesis 41:32-36; Proverbs 10:4; Proverbs 12:24; Proverbs 21:5; Proverbs 22:29

Business enterpriseFor ideas to be transformed into reality, they must be operated in a structured environment with adequate resources and control mechanisms. This environment is what we refer to as the business enterprise. The nature and form of an enterprise will be determined by the nature of the ideas and the environment in which the enterprise will operate in. Hence in the design of the business enterprise, diligence is required for the establishment of all the different facets.
Below are some of the areas of the enterprise that must be designed:

• The Social System: this entails the system of human interrelationships within the enterprise. Who reports to whom within the enterprise?
• The Financial System: this is the system of control of financial resources within the enterprise.
• The Technical System: Involves the process for the actual service delivery.
• The Recreation System: this involves laid down processes for taking decisions necessary for sustenance of the enterprise.
• Marketing System: this entails designing the processes through the enterprise interacts with its environment.
• The Control System: This involves the system of checks and balances put in place to ensure that outcomes will be equal to projections.

Communicating the Ideas for the Satisfaction of Society’s Needs

Genesis 41:33-36

Business CommunicationAfter having determined the ideas and the environment in which they will be realized, the third and final step in the business enterprise development process is the communication of the results to others who will aid in the realization of the ideas. This step is essential because every idea will require more than one person for its propagation and actualization. Joseph in Genesis 41:33-36 had to communicate his idea to Pharaoh and his people who helped him actualize the dream of storing up food for future famine. The following steps can be taken in the communication of ideas to others:

• Get patents for new ideas and products in order to secure them.
• Choose an enterprise name which represents your core values or services.
• Register the enterprise.
• Recruit members of staff.
• Deploy in phases- start with a pilot scheme then progressively expand.
• Seek for market feedback and modify the business model earlier developed if necessary.

In conclusion, great business enterprises are a product of great ideas, great environments (suitable for the particular enterprise) and great (constant) communication. Since enterprises are not always in control of their environment, then their ability to generate and communiçate great ideas required for optimum exploitation of their environment becomes their key to survival and progression.

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