Essay about Big Idea

3348 Words Oct 14th, 2012 14 Pages
Professor Harry E. Stucke


Bhuiyan Shariful
Kudret Demirkol
Alam Mujub
Ye Yu

February 27th, 2012

The Big Idea Group (BIG) was created by Micheal Collins to help both inventors and corporations meet the innovation challenge. BIG partners with inventors and companies to identify, develop and bring to market innovative ideas. Before BIG Collins founded Kid Galaxy in 1994, a specialty toy company and became a producer of the award-winning Bendos line. Bendos, a line of Gumby-like figures eventually helped Kid Galaxy gross $5 million a year. But Collins, who held just a 4% stake in his company, says he felt there was little
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This is one of the smartest concepts that the company came up with in order to extend their business model in other industries, especially “home and garden.” These events are great opportunities for BIG to extend their business into different industries and to find intelligent and equipped people, like Micheal Collins, to work with the company. Since the Hunt events cannot be copied by other innovation companies, BIG must use this chance efficiently and keep being differentiated in the market.

The Big Idea Group will go into more and more industries, build a broad network of professional inventors, and keep being differentiated as long as it holds the Hunt events. In these events, BIG will reveal many great concepts or carry them to the next level of innovation process by giving feedback to inventors. However, while BIG is giving feedback, it should not deal with every single idea that inventors have. It has to understand the potential of ideas before it presents them to a company and pick the highest potential ideas. Otherwise, BIG would not be able to eliminate waste of time and capture the value of products or services. The success of BIG stems from its business strategy and their unique ability to enter other niches.

In an extremely competitive toy industry; Michael Collins came up with the BIG Idea group (BIG). The purpose of this group is to find a way to exist in this industry, while making profits and

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