Value - What are you worth - Lecture 3

Drucker 1985 -
''Innovation is the tool of entrepreneurship.''

Mihaly -
''Creativity is the act of seeing things that everyone around us sees while making the connections that no one else has made.''

Philip Kotler - CCDVTP
Creating
Communicating
Deliverying
Value
to a Target Market
for Profit

Creating value is about managing your product/service
-don't push product onto people but design a product for what people want

Collaboration

Maslow'd heirachy of needs - to help understand what motivates us
1. Self Actualization
2. esteem
3. Love Belonging
4. Safety
5. Physiological

Being useful and entertaining

Where is the money?

Greatest human need = greatest market potential
-food industry
-housing
-utilities
-medicine
-transport
-construction
-insurance
-water
-new technology

Reduced huma needs = lower market potential
-organic farming
-holiday cottages
-home insulator
-health spas
-luxury sports cars
-conservation
-religion
-swimming pool
-alternative technology

A Value Proposition:
-overall aims - or mission
-specific aims - these set out the difference we hope to make - how it will affect people - outcomes
-objectives - these set out how we plan to go ahead achieving our aims - how exactly - outputs

BBC mission/vision/values
Ben & Jerry's Mission and values
-product mission/social mission

Leeds College of Art mission and values