Summary and application

You’ve reached the end of the first of three topics! Before moving onto the activities, here is a summary of what you’ve learned so far:

• Everyone will have a different perspective on whether something is an opportunity.
• There are several factors that can make up someone’s competitive advantage and position them to successfully respond to an opportunity.
• An opportunity for innovation has to provide an opportunity for doing something in a new and unique way.
• Innovation comes in different forms ranging from gradual differentiation (incremental innovation) to major disruption (radical innovation).
• Opportunities can be derived from problems and frustrations.

Applying your learning

Now it is time to apply your learning. We’ve included a range of optional activities to help you apply and remember what you’ve just learnt. Some of these activities can be done by yourself, some are better done in a classroom with others, or with facilitation from a teacher. The activities are categorised here according to their level of authenticity, ranging from vicarious learning (i.e., ‘second-hand’ learning from other people’s experience), to virtual learning (i.e., learning by doing, but in a controlled classroom setting or simulated environment), to authentic learning (i.e., the activity is indistinguishable from what someone in industry would do).

1. Vicarious learning

This video explains the origins of 1800 Got Junk, founded by Brian Scudamore.  As you watch this video, try and identify what the opportunity was that Brian responded to. What made it an innovative opportunity? Challenge yourself to analyse the situation and find other opportunities that Brian could have explored.

_{Please note: this video was not developed by, and is not the property of the ATN and is hosted on an external website.}

2. Virtual learning

Choose three random words. They should be completely unrelated and ideally have a few potential meanings. For example - chair, running, circular. Now use these three words, to setup a situation. Use your imagination. This should be a fun and creative exercise. With our example, the situations are endless:

• The chair of the board of directors is so anxious she’s running in a circular pattern around the room.
• The chair of the committee is running for re-election wearing a circular top hat.
• The person is running in a circular fashion around the group of people. As the music stops, they desperately look for a chair before they lose the game.

Once you’ve got your situation, think about the potential opportunities for innovation. In our example situations it could be an opportunity to help anxious people calm down, a chance to help make the process of re-election for committees easier, the possibility of disrupting classical children’s games with an innovative new approach to play, or a million other things.

Now it’s your turn. Pick your words, set the scene, and find as many opportunities as you can! Remember to focus on opportunities, not ideas.

If you are doing this in a classroom as an individual, start to work in teams and discuss and compare your opportunities.

• How innovative are they?
• How are your opportunities similar or different?
• What could you do next to explore the opportunity in greater detail?

3. Authentic learning

For this activity, you will reflect on a real experience you’ve had. Think about your travel today to get to class or work.

• How many problems or frustrations happened?
• Was your bus late?
• Did you run out of time to eat breakfast?
• Was it peak hour and the station was overflowing with people?
• Did you miss out on a seat on the train?

Identify as many problems or frustrations as you can.

Now, start to discuss these problems with friends or classmates. See if others have had similar experiences… can you find a common problem? This could be an opportunity for innovation. Think about the factors we’re discussed – you’ve got personal experience, you’ve got an audience.