GROUP 3

• Stephein mukami…………240910919
• Elvis kingori …………………23081016
• Justine Ngugi…………………..240910917
• Caroline mkamanga ……………23081019
• David Beckham……………………..23091013
DISCUSS PROBLEM INVENTORY ANALYSIS
AS ONE OF THE WAYS OF GENERATING A
BUSINESS IDEA
Definition of problem inventory analysis
Problem inventory analysis involves listing problem faced by consumer, businesses or society. The idea is
that business often arise from finding innovative solution to these problem. Entrepreneurs examine issues
customer face and use these as a basis for business development.
Systematic identification of problem
One of the key features of problem inventory analysis is its systematic approach. Entrepreneurs or
businesses can conduct surveys ,interviews or use brainstorming techniques to gather insight from target
customers about their pain point frustrations and unmet needs.
 problem categories
Problem can be categories into different type such as:
product –related problem(e.g., inefficiencies ,performance issues)
service – related problem(e.g., poor customer service ,slow delivery)
Environmental /Societal problem(e.g., climate change health crises)

Identifying problem in each category allow for a comprehensive view of opportunities for new business
ventures.
Understanding consumer needs
By focusing on existing problem entrepreneurs can align their business idea with consumer needs. For
instance , if consumer frequently complain about a lack of eco –friendly packaging , this problem could inspire
a business idea around sustainable packaging solution.
 Benchmarking competitors
Problem inventory analysis often involves looking at existing products or services and identifying areas where
competitors fall short. By analyzing competitors weaknesses, entrepreneurs can refine their business ideas to
offer superior alternatives.
Solution Development
Once problem are identified business must creatively braimstorm and propose practical solution . The solution
should be feasible ,cost-effective ,and capable of addressing the root cause of the problem.
Testing Market Viability
Not all problem lead to viable business ideas . After identifying problem and solutins entrepreneurs need to
test the markert viability
of their ideas through prototyping market surveys or small scale product launches to confirm consumer
demand.
Example;
An example of problem inventory analysis in action is how ride- sharing apps like uber identified a problem of
unreliable taxis and long wait time ,Uber developed a solution to address this and its ,and its success came
from solving an everyday problem.
STAGE OF CREATIVITY IN A BUSINESS
• Problem identification . Recognizing’s a challenge opportunity in the market or within the
organization.Example.Discovering customer pain points
• Idea generation. Brain storming and generating multiple creative solutions to the identified
problem or opportunity
• Feedback and iteration. After implementing an idea gathering feedback from customers or
employees
• Implementation. Turning the selected creative idea into a reality . This stage involves planning,
developing and lunching the product
• Evaluation and selection . Critically evaluating the ideas to determine which is most feasible,
innovative and aligned with the business goals
• Research and preparations . Gathering relevant information, analyzing data and studying market
trends . Business often conduct customer surveys , competitor analysis to gather insights
•
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EXAMPLE HOW COPYRIGHTS ARE USED IN
BUSINESS
•Copyright is a type of intellectual property that grants the creator of an original work exclusive
rights to its use and distribution. This means that the creator has the legal authority to
reproduce, distribute, perform, display, or license the work, and to authorize others to do the
same
•Copyrights play a crucial role in business by protecting original works of authorship, such as
literary, artistic, and musical creations, as well as software and other digital content. Here are
some key ways copyrights are used in business:
• Protection of Intellectual Property: Copyrights grant businesses exclusive rights to reproduce,
distribute, perform, and display their original works. This helps prevent unauthorized use and
ensures that creators can control how their work is used.
• Revenue Generation: Businesses can monetize copyrighted works through sales, licensing, and
royalties. For example, a software company can license its programs to other businesses,
generating ongoing revenue.
•Branding and Marketing: Copyrighted materials, such as logos, advertisements, and
promotional content, are essential for branding. Protecting these materials ensures that a
business’s brand identity remains unique and recognizable.
•Legal Protection: Registering copyrights provides legal protection and the ability to take
legal action against infringement. This is crucial for maintaining the integrity and value of
a business’s intellectual property.
•Employee and Contractor Agreements: Businesses often include intellectual property
clauses in employment and service contracts to ensure that any work created by
employees or contractors is owned by the company
ADVANTAGES AND DISADVANTAGES
COPYRIGHTS IN BUSINESS
Advantages copyright in business
1. Encouragement of innovation:
fosters climate of innovation by rewarding creators for their original ideas.
2. Financial incentive for creators:
this all creators to derive economic benefits from their work.
3. Market control :
this allows businesses to control how and where their work is distributed.
4. International protection:
they are recognized globally though agreements like the berne convention .this allow businesses to protect
their intellectual property internationally supporting global expansion efforts
 5. Cultural preservation :
copyright play a vital role in preserving and promoting cultural heritage.
6. Learning and education:
copyright law strikes a balance between protecting creator right and allowing educational and research
institutions to use copyrighted materials for educational purposes under fair uses or fair dealing provision
 Disadvantages of copyrights
1. Limitations on Creativity
Creators may be hesitant to build upon existing works or incorporate elements from others due to fear of infringement
2. Duration of Protection
Copyright protection can last for many years, preventing the public from accessing works that could be beneficial for
cultural or educational purposes.
3. Complexity
Copyright laws can be complex and difficult to navigate, leading to confusion for creators and users about what is allow
4. Costs of Enforcements
Enforcing copyright can be expensive and time-consuming, often disproportionately affecting smaller creators
5. Digital Challenges
The rise of digital media has complicated copyright enforcement, leading to widespread piracy and challenges in
protecting intellectual property online.
6. Barrier for New Creators
New creators may struggle to navigate the copyright system , making it difficult to protect their own works.
7. Fair Use Limitations
The concept of fair use can be vague, leading to uncertainty about when certain uses of copyrighted material are
permissible.
8. Potential for Abuses
Some entities may exploit copyright laws to stifle competition or to engage in aggressive litigation, known as copyright
trolling.
END OF OUR
PRESENTATION