Creativity is considered as an impulsive, spontaneous and unpredictable phenomenon. It doesn’t have a good relationship with rigid and structured mechanisms. But ironically, there are some techniques and procedures that systematically and in a structured way try to create new ideas. Here, I will try to introduce some well-known and most common creative problem-solving techniques.

Trend Analysis

Scanning changes in the environment can be one the best source of new business ideas. Macro trends always offer excellent opportunities to the entrepreneurs to overcome the big sharks –big companies- in the market, since they are usually reluctant or slow to react to the new conditions. Sometimes, macro trends create new vast oceans for entrepreneurs to enjoy. Look at the  ICT technological advancement in the last three decades and the long list of giant successful companies such as Microsoft, Apple, IBM, Oracle, and Google. These companies launched and grew  based on the business opportunities originated from this macro trend. Those entrepreneurs who identified such changes and react quickly would become great entrepreneurs.

A systematic way of scanning the environment is PEST Analysis. First, choose an industry that you have experience in or are familiar with. Then, try to define the borders of the industry and then apply the PEST framework to the defined industry. The PEST analysis divides the general environment of the industry  into the following categories:

Political: Predicts forces brought by the government and changes in political institutions and the direction of political processes, and legal issues

Economic: Looks at society’s economic structures and such variables as the stock exchange, interest and inflation rates, the nation’s economic policies and performance, exchange rates, etc. These variables impact differently on different industries.

Social: Observes cultural attitudes, ethical beliefs, shared values, the level of differentiation in lifestyle, demographics, education levels, etc.

Technological: Detects changes in technology that can alter the competitive position Industries

In each section try to understand what general trends are affecting the industry. The output can be statements such as “Consumer are more aware of health and environmental issues” or “social effects of business activities have led customers to demand products that are organic,fairly traded and less harmful to the environment (Social trend in grocery industry)”. Use industry reports or expert opinion. At the end, summarize the changes and see how can you utilize the occurring changes.

Please share your results and insights with us.