...Biodiesel Incorporated Teaching Notes The Biodiesel Incorporated case describes the process of one group’s efforts to effectively identify a business opportunity. Individual analysis and group discussion of this case are well-suited for illustrating and applying the terms and issues covered in Chapter 2 “Opportunity and the Business Summary.” Naturally, the case also allows for the discussion of additional concepts and topics, including material covered in Chapters 4, 8, 10, 17, and 18. Discussion Questions 1) What are the key factors in determining if this is a viable business opportunity for Josh, Hannah, and Matthew? 2) What market drivers should they research and be aware of? 3) What are the flaws in the current business strategy? 4) What type of financing should they use if they choose to go forward with this? 5) What types of distribution channels should they go into? 6) How can they improve their chances for success? 7) What is the next step? Answer Guide 1) What are the key factors in determining if this is a viable business opportunity for Josh, Hannah, and Matthew? Josh, Hanna, and Matthew have to determine if this is a viable opportunity for them. In particular, they need to decide if the expected income and level of independence (and other rewards of starting a new venture will outweigh the risk undertaken and significant amount of effort required. The case consists of little information regarding the leadership qualities of the three students...
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...The concept of ‘internationalization’ is strongly related to a process of involvement and accurate decision making regarding the entry or expansion into new or existing markets taking into consideration dynamic factors and limitations that could influence the entrepreneur. As Buckley J. and Ghauri N. (1999:85, 86) state, the meaning is used to describe how growth of international businesses is mainly dependant on the ‘inward-outward interlink’, thus acquiring foreign commitment over time through a six dimension pattern. The framework suggests that the success of international companies is linked to foreign operation methods and the change tendency as well as sales objects and targeted markets, organizational structure and personnel together with finance and technology. Therefore, in terms of analysing the start-up for a new venture, entrepreneurs should focus on developing and integrating the abovementioned and as Oviatt and McDougall (2004:31) indicate, gain the competitive advantage through resource utilisation and output sale in multiple countries. In order to achieve that, proactive strategies such as alliances, manufacturing capacity or marketing expertise should be taken into consideration as suggested by Buckley and Casson (1976:4) and consistent with a value added approach rather than asset owned. Therefore, the strategy is more concerned with small and medium size firms which start up locally and then mature to become consistent with the MNE theory and foreign direct...
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...MGB223 Entrepreneurship and Innovation: Assignment 1 Business concept guidelines Due: Friday of week 5, 21 August (via Assignment Minder) Weighting: 20% Length: 1000-1200 words Task: In developing a new business venture, the process begins with recognising an opportunity from a business problem and creating a business concept that articulates it. For the first steps, the entrepreneur (1) builds a concept to solve the business challenge; (2) fashions a story that conveys the meaning of the new venture, and (3) prepares a presentation that tells the story and explains the concept to potential customers, investors and partners. After testing the concept with stakeholders, the entrepreneur may go on to develop a complete business plan. To help you build these skills you will be required to undertake the entrepreneurial process of opportunity recognition and concept development. You will be asked to identify possible commercial opportunities for an innovation and then articulate the opportunities into a new business concept. You will submit a 1000-1200 word business concept report that identifies and describes your innovative business idea. You will develop your business concept into a full business plan in assignment 2. Some of the issues that will help you in developing and evaluating your business idea are: * the problem or need and identification of the customer/s and market * the proposed solution and the uniqueness of the solution ...
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...recognize opportunities where others see chaos, contradiction, or confusion. They have been compared to Olympic athletes challenging themselves to break new barriers, to longdistance runners dealing with the agony of the miles, to symphony orchestra conductors who balance the different skills and sounds into a cohesive whole, or to top-gun pilots who continually push the envelope of speed and daring. The U.S. economy has been revitalized because of the efforts of entrepreneurs, and the world has turned now to free enterprise as a model for economic development. The passion and drive of entrepreneurs move the world of business forward as they challenge the unknown and continuously create the future (Kuratko, 2002). Several methods have been used to measure the impact of entrepreneurial ventures on the economy—for example, efforts to start a firm (which may not be successful), incorporation of a firm (which may never go into business), changes in net tax returns filed (reflecting new filings minus filings no longer received), and a substantial amount of full-time and part-time self-employment. According to the Small Business Administration, 672,000 new businesses were created in 2005; the largest in US history (even 12% higher than the infamous “dotcom” explosion). More significantly, 74 million Americans stated they plan to start a new venture within the next five years while an additional 199 million Americans plan to start a venture someday. (The...
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...principles it may contain, can and should provide the basis for a systematic approach t o b o t h the writing and evaluation of entrepreneurial business plans. Despite this, the majority of entrepreneurial business plan writing and evaluation is unsystematic—if systematic is taken to mean "based o n empirical evidence and developed theory." T h e vast majority of the a b u n d a n t literature on " h o w to write a successful business p l a n " is n o t research-based (Hindle [1997]). T h e espoused criteria of its authors far o u t weigh the formal application of the k n o w n attributes of successful ventures (Hindle and Mainprize [2002]). This article seeks to articulate a research-based system for assessing the c o n t e n t quality of e n t r e p r e n e u r i a l business plans (EBPs) from t h e p o i n t of v i e w of an investor (more specifically, a venture capitalist investor). As a natural corollary, its fmdings may also serve as a guide to writers of e n t r e preneurial business plans. As the primary source of information for t h e investment screening decision, v e n t u r e capital firms rely almost exclusively...
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...success factors by posing questions that must be addressed for an idea to become a true opportunity. See chapters 2 and 19 for a discussion of the business story and concept. Additional references to other chapters are shown in this table. Executive Summary The executive summary is the most important part of the business plan. Many investors make their decision to proceed with further discussions (e.g., due diligence) based on this single section. The executive summary should encapsulate the key positioning and reasoning found in the rest of the business plan. Both the vision and mission statements should assist in succinctly communicating a compelling opportunity. • • • • • Why is this a big problem and why are customers willing to pay for solutions? How does the venture plan on solving the customer problem or need? Why is this venture uniquely positioned to do this? How attractive are the economics? Why is this an exciting growth opportunity? Who is the team, and what key partnerships are in place? I. Opportunity and Market Analysis Investors like funding big problems representing large opportunities. Start strong by demonstrating a solid understanding of the customer and why this problem or pain is important to them. Performing customer segmentation will convince readers that the venture can grow to the size of the addressable market. • • • • What is the problem or need being solved by the venture? Who is the customer or customer segment(s)? How large is the total addressable market...
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...| AIB student ID number: | A001324635 | | | Student name: | Patries Ramkaran | | | Course name: | MBA in Entrepreneurial Management | | | Subject name: | New Venture Creation | | | Subject facilitator: | Priscilla Bahaw | | | Teaching Centre: | School of Higher Education (SHEL) | | | No. of pages: | 27 | | | Word count: | 2491 | | | DECLARATION | I, the above named student, confirm that by submitting, or causing the attached assignment to be submitted, to AIB, I have not plagiarised any other person’s work in this assignment and except where appropriately acknowledged, this assignment is my own work, has been expressed in my own words, and has not previously been submitted for assessment. | ASSESSMENT SHEET | Student name: | | | | Course name: | | | | Subject name: | | | | Assessor/marker: | | | | COMMENTS | Principles learnt (for example, number and understanding of principles referred to, their influence on the structure of this paper, number and correct citations of references, use of appropriate jargon) | | /4 | | | Application of principles. That is, the analysis and evaluation of the example problem based on the principles, including the final recommendations and their justification | | | /8 | | | How well the example problem was described, including the extent and depth of information (including the data) about it that was accessed | | | /4 | | | Structure...
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...Summary Introduction 3 Tesco’s international expansion began in developing countries 3 Tesco’s winning Strategy 3 Tesco’s know how for Joint Ventures 4 Innovate for winning a crowded market 5 Conclusion 6 References 6 Introduction Tesco is a multinational grocery and general merchandise retailer based mainly in the UK, Ireland, Europe and Asia founded in 1919 by Jack Cohen. Its turnover was € 80 billion in 2008. Tesco is the first group of British distribution (1,500 stores just in the UK) and the 3rd World group. Its work revolves around three areas: distribution in the UK, international distribution and financial services. This case is about Tesco’s International Growth Strategy, we will see why they decided to expand internationally, how they did it in developing and developed countries, which were the risks and which answer gave Tesco. Tesco’s international expansion began in developing countries When a firm decides to expand internationally, it has to take decisions like which market to enter, when and which entry mode to use. Tesco respected one of the most important rules in international Business, to not internationalize until they do not have a good position and control of their situation on their own market. As the company “was generating strong free cash flows senior management decided to expand overseas”. Tesco agree that best opportunities were not in established markets like Europe and United States because of the presence of strong competitors...
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...Technology Ventures From Idea to Enterprise is p r bite ohi d. se The pre na limi ry p s age are p are rep d fo r s ent tud s of D ho r. T ma Any s. yer sB oth e e r us se The pre na limi ry p s age are p are rep d fo r s ent tud s of D ho r. T ma Any s. yer sB oth e e r us is p r bite ohi d. Technology Ventures From Idea to Enterprise d. Thomas H. Byers Stanford University se The pre na limi ry p s age are p a Richard C. Dorf . Thom f Dr University of California, Davis so t den stu r d fo Andrew J. Nelson are rep University of Oregon Any s. yer sB oth e e r us is p r bite ohi TECHNOLOGY VENTURES: FROM IDEA TO ENTERPRISE, THIRD EDITION Published by McGraw-Hill, a business unit of The McGraw-Hill Companies, Inc., 1221 Avenue of the Americas, New York, NY 10020. Copyright @ 2001 by The McGraw-Hill Companies, Inc. All rights reserved. Previous editions © 2008 and 2005. No part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written consent of The McGraw-Hill Companies, Inc., including, but not limited to, in any network or other electronic storage or transmission, or broadcast for distance learning. Some ancillaries, including electronic and print components, may not be available to customers outside the...
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...coNteNts Page 1. accounting and control Page 2. Decision sciences Page 3. economics and Political science Page 5. entrepreneurship and Family enterprise Page 9. Finance Page 11. marketing Page 13. organisational behaviour Page 14. strategy Page 16. technology and operations management Here is a list of electives that were offered to the MBA Classes of 2012. This list is not comprehensive and is likely to change annually to reflect changes in the economic and business environment. If you are interested to find out whether a particular elective is being offered for your class, you can email us at mba.info@insead.edu. Also, notably 90% of the electives will be offered across both campuses, but there are some courses that will be tied to a specific campus due to the availability of the professor or the link to the specific region. All students will be given a full list of electives offered for their class in Period 1 so that they can take this information into account when planning for their campus exchange. accounting and control applied corporate reporting To be successful in any career involving financial analysis, you need a deep and broad knowledge of financial reporting standards and their application in practice. Building on the concepts covered in core courses, this elective gives students an understanding of the rationale and principles behind financial reporting. It also provides a clear sense of the main players (managers, directors, employees, investors, lenders...
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...Academic Roots: The Past and Present of Entrepreneurial Marketing Dr. Gerald E. Hills Turner Chair and Professor of Entrepreneurship Bradley University 1501 West Bradley Avenue, Peoria, IL 61625 E-mail: hills.gerald@gmail.com Claes M. Hultman, PhD Professor of Business Administration Swedish Business School Orebro University SE-701 82 OREBRO, Sweden Phone: +46-19303522 Fax: +46-19332546 E-mail: claes.hultman@oru.se Dr. Hills holds the Turner Endowed Chair in Entrepreneurship at Bradley University and he chairs the annual Research Symposium on Marketing and Entrepreneurship. His current research interests include entrepreneurial marketing and opportunity recognition. Claes M. Hultman holds a chair in Marketing at Swedish Business School at Örebro University and he is the author of many books and articles in marketing & entrepreneurship. His current research interests include entrepreneurial marketing and commercialisation processes in innovation based firms. Abstract Research in Entrepreneurial marketing is about 30 years old. During this period research has followed many trajectories. Two important but divergent routes are small business marketing versus entrepreneurial marketing mirroring the discourse of small businesses versus entrepreneurial firms. Today small business marketing and entrepreneurial marketing are regarded as separate research fields, however related. EM-researches have been very openminded towards different approaches in methodology, especially...
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...Literature Review Analysis and Report of “Shaping Strategy in a world of Constant Disruption” Havard Business Review Article by: John Hagel III, Seely Brown, Land Davison Presented by: Edwin Martin, Shawn Ransome, Jason Roach November 2011 Table of Contents 1. Executive Summary 1 2. What is this reading about? 2 3. Critical Issues 3 4. Relation to topics discussed 4 5. Alignment of concepts with topics discussed 6 Executive Summary A shaping strategy is one which will normally command the majority into changing their paradigms about a certain product, causing disruptive innovation to take place. In order to garner such massive support for such a new product, the product must be marketed well enough to convincingly express the new opportunities afforded to the audience. The new product must also define new standards and practices which make participation easy and affordable. Also, demonstrating that there is the conviction and resources for success which would not compete against participants. Essentially there are 3 key ingredients to making a successful shaping strategy; 1. Create a shaping view, 2. Develop a shaping platform and 3. Demonstrate shaping acts. This report will attempt to review and analyze the HBR article “Shaping strategy in a world of constant disruption” and would show how the shaping strategy can be used to propel business growth while gaining massive support for new innovative and technological products. The report...
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...THE VIRGIN GROUP CASE STUDY QUESTION 1: What examples does the case give of links between Branson’s strategy for Virgin and the environment in which it operates? The Virgin Group Ltd is a group of separately run British companies with the Virgin brand under the leadership of English celebrity business tycoon Sir Richard Branson. The core business areas are travel, entertainment and lifestyle, among others. Richard Branson’s strategy comes from his deepest inner beliefs; “in principle there were no product or service boundries limiting a brand name, provided it was associated with quality products/services on offer” The corporate strategy of the Virgin Group is to operate like ‘a venture capital firm based on the Virgin brand.’ This strategy involves non-related diversification at the individual business unit level. Meanwhile, synergies are created from hierarchical relationships and the interaction of the corporate head office with individual business units. By leveraging on the Virgin Brand which has established prominence in the minds of consumers, Virgin is able to enter new business areas with a bang and shake up existing orders. The unique Virgin culture also allows Virgin to break into new markets and execute its ventures very effectively. Virgin’s corporate strategy is best described in the Virgin Charter – the individual businesses are focused and develop as autonomous enterprises under a single unified brand name. This decentralization...
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...MGB223 Entrepreneurship and Innovation Assignment1: Business Concept E.B. (Electronic cigarette Bluetooth) Student Name: Sunjae Hwang (Sun) Student Number: N8972231 Tutorial Time: Tuesday 16:00~17:00 Tutor Name: Dr Alireza Javanmardi Kashan Submit date: 27th March 2015 Words count: 1197 1.0 The Business Concept: the problem and solution 2.1 Background There are over one billion smokers who often faced with burden of health and cost (OrganizationWorld, 1997). This is caused as smoke of cigarette damages several organ systems not only smokers but also second hand smokers (Boyel et al., 2004). Therefore, many numbers of smokers try to quit on their own, while smoking is one of a difficult addictions to break (Hughes et al., 2004). While some of smokers quit other try to find a chance to quit or reducing the risk of smoking through the electric cigarette which is battery powered electronic nicotine delivery device (ENDD) (Zezima, 2009). However, the problem of using electronic cigarette is still the gesture of smoking. With this reason, some of electronic cigarette users even more increase amount of smoking. 2.2 Challenge The challenge of this area is that identifying smoking habits while smokers use the electronic cigarette through specific devise to recognize problems of them. If smokers received the reports of their bad habits while smoking the cigarette, they might control their amount or habits of smoking. One of the major problems is that smoking...
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...Goodknight, Dell, Take aways, mobiles, share autos, mineral water (and the companies) . became run away success? Why did they all become successful? They eliminated high customer dissatisfaction By Offering Solutions to customers’ problems Discontent – Criticality Matrix High Discontent Low Criticality High Criticality Low Discontent Financial Attractiveness Strategy (source, cost, availability, adequacy) Technical Attractiveness Strategy (Existing/new technology and products/services) Market opportunity Marketing Attractiveness Strategy (size, Entry, Sustenance) Entrepreneurial Capability Strategy (Attitude, Skills, Knowledge pool/network – individual/group) Why businesses fail? • Not spotting opportunity right • Not developing balanced tripod and sharpened diamond • Not maintaining sharpness of diamond over time • In essence, S W resource pool not matching with OT of environment • Entrepreneurs need to facilitate transformation of the “baby” through its life cycle Rs FLC and Capability mix at different stages Growth Idea Motivaton Attitude Planning Opportunity Stabilisation t S Start - up W O T Write the horoscope of the enterprise Myths about Business Plan • Just to get funds from banks, figures bent for them • Prepared by consultants, not me • Dynamic environment, assumptions change fast • Not plan, but execution is key to success • Unnecessarily time consuming (analysis paralysis) Why BP? • BP is a guide...
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