In the Beginning, There Was the Opportunity

This chapter discusses the concept of opportunities in entrepreneurship and intrapreneurship. It introduces the IpOp Model, which focuses on Innovation by Opportunity, and the management practice of “Management by Opportunity” (MbOp). It emphasizes the importance of identifying innovative solutions to market needs and defines an Opportunity as the combination of a Solution that satisfies one or more defined Pain/Need/Desires (PNDs). Building an intimate relationship with customers to identify unrecognized Pains/Needs/Desires can lead to the creation of new Opportunities possibly with existing Solutions. Since innovation does not necessarily mean invention, the innovative Solution does not have to be brand new and can be brought in from another market. It also highlights the role of creativity, market research, and customer intimacy in identifying and capitalizing on opportunities. The content of this chapter can be used to implement ISO 56007 by providing insights into managing opportunities and ideas, understanding customer pain/need/desire(s), and developing innovative solutions. However, it should be noted that ISO 56007 does not specifically address the concept of “solution” like the IpOp Model does.