Research on Innovative Entrepreneurship: Exploring CreativeIdeasand differing perspectives

Abstract

This paper is divided into three parts. The first part deals about a creative business idea, the author of this paper planning to pursue, as a business venture to generate profit and serve the respective customers by delivering services to their demand.

Part two of the paper covers an interview conducted with an Entrepreneur on his business achievement. The interview covered important points on how the entrepreneur has managed to start small and be able to achieve a significant business success within short period of time.

Part three of the paper covers literature review on differing perspective. For the sake of this paper differing perspective on business strategy theory, the Blue ocean and Red Ocean were considered. The main goal of the paper is to find how innovative entrepreneurs generate creative ideas and different perspectives to create very successful business ventures.

It is natural to follow the crowd; I would say it is somewhat true for business idea too. At some point I was tempted to go for a business idea which is highly competitive, commonly done by everyone, with less risk, with a diminishing demand, fierce competition. For that matter, it was tour operation that I was planning to do. But, the encouraging comment that came from professor Mammo which motivated us to think an innovative, creative business idea, struck my mind to think something ‘out of the box’. Thus, I am now convinced to pursue a business idea, Expat Relocation, a business which is not common in Ethiopia, a business in uncharted water, a business which needs proper planning and risk identification.

I am determined to create the demand through value innovation and addressing the issue of the customer(expat) in this kind of market by breaking out the already existing boundary in expat related business, sailing to the ‘Blue Ocean’ and making the competition irrelevant, by creating a new market space.

The draft, creative idea has been presented as below, briefing business description, market environment, services offered, strategy and implementation, organization and management, operational plan, marketing, investment plan.