Value Ideas

Value Ideas

Main goal: Make the most of ideas and opportunities

Ideas are great and it can be a lot of fun to come up with new ones and play through different scenarios in your mind. But the best ideas and the ones that actually work are the ideas that create real value. Linking ideas to the value they might create is the skill to learn early on in your career as an entrepreneur.

We all know the famous quote from Henry Ford: “If I had asked people what they wanted, they would have said faster horses.” He understood the real value of horses at the time and started building cars instead. It was clear to him that this would be of much higher value.

Creating value is much more than just having an idea, it is about identifying and confirming the value an idea might hold.

In short, valuing ideas is about:

  • Judging what value is in social, cultural and economic terms
  • Recognizing the potential an idea has for creating value
  • Identifying suitable ways of making the most out of it

Let’s look at each skill and see what each level will bring you:

Recognise the Value of Ideas

Level Ability
1 I can find examples of ideas that have value for myself and others.
2 I can show how different groups, such as firms and institutions, create value in my community and surroundings.
3 I can tell the difference between social, cultural and economic values.
4 I can decide which type of value I want to act on and then choose the most appropriate pathway to do so.
5 I recognise the many forms of value that could be created through entrepreneurship, such as social, cultural or economic value.
6 I can break down a value chain into its different parts and identify how value is added in each part.
7 I can develop strategies to effectively make the most of opportunities to create value in my organisation or venture.
8 I can state the value of a new idea from different stakeholders’ perspectives.

Share and Protect Ideas

Level Ability
1 I can clarify that other people’s ideas can be used and acted on while respecting their rights.
2 I can explain that ideas can be shared and circulated for the benefit of everyone or can be protected by certain rights, for example, copyrights or patents.
3 I can tell the difference between types of licences that can be used to share ideas and protect rights.
4 I can choose the most appropriate licence for the purpose of sharing and protecting the value created by my ideas.
5 I can tell the difference between trademarks, registered design rights, patents, geographical indications, trade secrets, confidentiality agreements and copyright licences, including open, public-domain licences such as creative commons.
6 When creating ideas with others, I can outline a dissemination and exploitation agreement that benefits all partners involved.
7 I can develop a tailored strategy on intellectual property rights that deals with geographic requirements.
8 I can develop a strategy on intellectual property rights that is tailored to the age of my portfolio.

Note

If you are interested in learning and practising this skill group, please use the form on this page and tell us about it. We use this info for our planning for future programs and we will keep you up-to-date about it.

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Skill Sets under Ideas and Opportunities

Skill Sets under Resources

Skill Sets under Into Action