“Expert Talk on Business Idea Selection and Idea Screening”

Date:27 Aug 2025

Event Venue: Seminar Hall, Block 5, SBBS University.

Organising unit/ agency/ collaborating agency: Department of Management, UICM (University Institute of Commerce and Management) under the aegis of IQAC and IIC Sant Baba Bhag Singh University.

Name of the Event: “Expert Talk on Business Idea Selection and Idea Screening”

Number of Faculty:10

Number of students participated in activity:94

Activity Report

Activity Report

Expert/Speaker Details

Name of the Resource Person: Dr. S. S. Taggar

Brief Description of the Activity

The process of business idea selection and idea screening is a critical precursor to successful entrepreneurial ventures and strategic innovation. It begins with the generation of multiple ideas sourced from market gaps, technological trends, customer feedback, and internal brainstorming. Business idea selection involves identifying concepts that align with organizational goals, demonstrate market potential, and offer operational feasibility. Key selection criteria include profitability, scalability, strategic fit, innovation level, and sustainability. Once promising ideas are shortlisted, the idea screening phase ensures that only the most viable and impactful concepts proceed to development. This involves a structured evaluation using tools such as scoring models, SWOT analysis, decision matrices, and feasibility studies. Screening helps eliminate weak or impractical ideas early, saving time and resources while enhancing focus. It also incorporates stakeholder reviews and customer validation to ensure relevance and acceptance. In academic environments like Sant Baba Bhag Singh University, this process can be integrated into entrepreneurship development programs, student innovation labs, and industry-academia collaborations, fostering a culture of thoughtful innovation. Ultimately, business idea selection and screening serve as a strategic filter, guiding institutions and entrepreneurs toward ideas that are not only creative but also sustainable, market-ready, and aligned with long-term vision.

Conclusion

In conclusion, business idea selection and idea screening serve as essential pillars in transforming raw creativity into actionable innovation. By systematically evaluating ideas for feasibility, market relevance, strategic alignment, and sustainability, organizations and academic institutions can ensure that their resources are invested in concepts with the highest potential for success. This process not only reduces risk but also fosters a culture of thoughtful decision-making and purposeful entrepreneurship. Whether applied in corporate strategy or student-led initiatives, effective idea selection and screening empower individuals to move from inspiration to impact with clarity and confidence.

In the last Dr. Gagandeep S Salhan (Activity Coordinator, Assistant Professor, Management Department) share the vote of thanks and appreciate the students for participating in the session with enthusiasm. Additionally, gratitude towards the Higher Authorities of the University and Dr. Ajay Pathania (Dy. Dean UICM), Dr. Varinderjeet Singh (COD Management) Dr. Manoj Kumar (Activity Co-coordinator), for advising to arrange the activities to boost the entrepreneurship among the students.