...Harvard Business Review May 2010 Beating the Odds When You Launch a New Venture by Clark G. Gilbert and Matthew J. Eyring Smart entrepreneurs aren’t cowboys—they’re methodical managers of risk. For nearly 20 years the case study used to introduce Harvard Business School’s Entrepreneurial Management course has been Howard Stevenson’s “R&R.” It looks at Bob Reiss, an entrepreneur who launches a venture in the board-game industry. Students are encouraged to explore all the production, development, distribution, and marketing costs associated with the new venture. A cursory reading of the case suggests that it’s a lesson in the rewards that come to an entrepreneur who is willing to take on an enormous amount of risk. Reiss capitalizes on what he correctly foresees is an ephemeral opportunity to ride the coattails of the Trivial Pursuit craze before me-too products flood the market. But a more careful analysis reveals something else entirely. At every turn, Reiss seeks to reduce his risks before making any significant financial investments or operational commitments. For example, he presells a sizable number of units to ensure cash flow. As students come to understand, Reiss actually limits his at-risk capital to the cost of the game design and the prototype. Rather than the high-risk, high-reward seeker he initially seems, Reiss proves to be a manager who constantly identifies risks and finds creative ways to remove them. Tackling the Right Risks First (Located at the end of...
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... (c) | The strategic notion of creativity, the birth of invention. Demonstrate comprehension of innovation and pioneering, the needed strategies for technological sustainability | 10 | Case Study 1 APPLE COMPUTERS Apple was started in 1976 by a young entrepreneur, Steven Jobs, and his partner, computer nerd Stephen Wozniak. They began by making personal computers (PCs) in a garage. In 1983 the company’s turnover, from essentially one model – the distinctive Apple computer - was approaching $1 billion. At this stage in the company’s development Wozniak had already left and Jobs had been quoted as saying that he was no longer able to do what he most enjoyed, working with a small ground of talented designers to create new innovative products. To overcome his frustration with an...
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...A CASE STUDY ON THE INDIAN SMALL CAR INDUSTRY Prof. Tapan Panda A Case Study on the Indian Small Car Industry A BRIEF OVERVIEW ON THE INDIAN SMALL CAR INDUSTRY If there is one big market that is forcing the global auto majors to think small, it is India. Until yesterday, all the world's auto-manufacturers expected to create success out of their midsize products. There were as many as five players in the mid car segment and just one--the Rs 7,956-crore Maruti Udyog Ltd (MUL)--in the small car segment. Suddenly Daewoo Motors India and Hyundai Motors India--are changing lanes midway, making the small car market as the pivot of their marketing strategy in India. Couple that with the fact that two domestic manufacturers--the Rs 10,074-crore Tata Engineering & Locomotive Co. (TELCO) and the Rs 223-crore Kinetic Engineering--are ready with similar indigenously-designed products to compete in this market The last two years has really been the period of war in the small car market The story Behind…. The auto majors read the market wrong. Since the small segment was dominated by MULwith a market share of 96 per cent and given that the Trans –national brands already had tried-and-tested mid-size models in Indian market, this segment was more attractive than the existing ones. This perceptual change was because of two reasons. • • The clutter in the large and midsize segment due to entry of many international players. The small segment grew faster than the mid-size one, driven...
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...book. Before you drop it like it’s on fire and run screaming from the room, let me explain. Economics is the study of resource scarcity and choice; it helps clarify the trade-offs we face when we make decisions about where to put our time and money, when and how much we should spend or save. In the context of innovation, economics informs the type and number of innovations attempted in a given period - how bold, how aggressively pursued, and how funded. This book describes an approach to innovation decision making that can break enormously wasteful historical trade-offs in resources. The goal of this book is to enable the practical application of that approach - pretotyping - within mature companies looking to improve the effectiveness of their front-end innovation processes. My colleague and friend Alberto Savoia is the originator of the term pretotype and much of the theoretical foundation for pretotyping. For an entertaining and rapidly-digestible primer on the method, I commend his excellent book Pretotype It1. I owe Alberto - and his many collaborators at Google, where pretotyping abounds - a profound debt, and I heartily acknowledge his prior art. This book is based upon the Pretotyping@Work workshop materials I developed with Alberto that makes pretotyping a teachable, repeatable method. As the book is intended to be readable by those new to pretotyping, there will be some duplication for the initiated, for which I compensate with new tools and perspectives...
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...perspectives of leading entrepreneurs and venture capitalists as a guide for people interested in learning more. Each writer graciously contributed their work to create a curated resource for creative entrepreneurs. This book is the teaching and inspirational aid for our kbs+ Ventures Fellows – a highly select group of kbs+ staffers from all levels and areas of the agency – who go through a six-month educational program to immerse themselves in the startup and venture capital world. Share this entrepreneurial inspiration with friends using @kbspvc or #kbspvcbook. If you would like to share any inspiration, thoughts or feedback, please contact us at @kbspvc anytime – we look forward to hearing from you. Thank you for downloading our book! Darren Herman Taylor Davidson Creative Entrepreneurship Darren Herman Taylor Davidson a kbs+ partner We have received explicit permission from all authors of the works found in this book. Unless otherwise stated, we do not claim to have written or own any of this work. We are purely aggregating it into a simple book format for the education of anyone who picks up this book. The price of this book is free; if anyone tries to sell this book to you, please report them to us. Hopefully this book inspires you as much as it does us. We do not guarantee you will start the next successful startup after reading this book but we do think it will make you at least one IQ point smarter. Enjoy it and after you are done with it, hand it to someone...
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...THE PDMA HANDBOOK OF NEW PRODUCT DEVELOPMENT T HIRD E DITION Kenneth B. Kahn, Editor Associate Editors: Sally Evans Kay Rebecca J. Slotegraaf Steve Uban JOHN WILEY & SONS, INC. Cover image: © Les Cunliffe/iStockphoto Cover design: Elizabeth Brooks This book is printed on acid-free paper. Copyright © 2013 by John Wiley & Sons, Inc. All rights reserved Published by John Wiley & Sons, Inc., Hoboken, New Jersey Published simultaneously in Canada No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, 222 Rosewood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 646-8600, or on the web at www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 7486008, or online at www.wiley.com/go/permissions. Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with the respect to the accuracy or completeness of the contents of...
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...Background to entrepreneurship Definition and interpretation The term enterpreneurship emerges from the french (literally between take or go between )and traceable to the eighteen century economiist Richard Cantillon ,Anne-Robert –jacques Turgot and Francios Quesnay ,The term was also denoted to an actor in charge of large –scale construction Project as cathedral, bearing no risk but simply carrying the task forward untill resoures were Exhausted ,the change in the use of term began in the seventeen century with a specific reference to risk bearing and enterpreneurship was tagged a person who entered into a contractual relationship with the government for the performance of a service or the supply of good ;The assumption was the price of a contract had been valued and fixed and the enterpreneur bore the risk of profit and loss from the bargain. In the eighteen century ,the term was applied in france in several way ; cantillon in 1725 referred to entrepreneurs as risk bearing .But he tried to differentiate the entrepreneurs who provide capital or funds from those who relied on their own labour and resources. That showed an entrepreneurial role as independent of the capitalist role Quesnay considered an enterpreneur as a tenant farmer who rent property at a fixed rent and produces a given price’s like cantillon bandeau ( 1797) and Turgot...
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...Seth Godin Foreword by Malcolm Gladwell ©2000 by Do You Zoom, Inc. You have permission to post this, email this, print this and pass it along for free to anyone you like, as long as you make no changes or edits to its contents or digital format. In fact, I’d love it if you’d make lots and lots of copies. The right to bind this and sell it as a book, however, is strictly reserved. While we’re at it, I’d like to keep the movie rights too. Unless you can get Paul Newman to play me. Ideavirus™ is a trademark of Do You Zoom, Inc. So is ideavirus.com™. Designed by Red Maxwell You can find this entire manifesto, along with slides and notes and other good stuff, at www.ideavirus.com. This version of the manifesto is current until August 17, 2000. After that date, please go to www.ideavirus.com and get an updated version. You can buy this in book form on September 1, 2000. This book is dedicated to Alan Webber and Jerry Colonna. Of course. Unleashing the Ideavirus 2 www.ideavirus.com STEAL THIS IDEA! Here’s what you can do to spread the word about Unleashing the Ideavirus: 1. Send this file to a friend (it’s sort of big, so ask first). 2. Send them a link to www.ideavirus.com so they can download it themselves. 3. Visit www.fastcompany.com/ideavirus to read the Fast Company article. 4. Buy a copy of the hardcover book at www.amazon.com/exec/obidos/ASIN/0970309902/permissionmarket. 5. Print out as many copies as you like. Unleashing the Ideavirus 3 www.ideavirus...
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...the corporate culture at Facebook Inc. (Facebook), which is considered to be one of the fastest growing companies in the world. The culture at Facebook was open and transparent with no hierarchies. The company was well-known for its ‘hip geek culture’ fostered by its founder, Mark Zuckerberg. He tried to attract the best talent in the industry by creating a fun environment wherein employees had the opportunity to work on the best projects with a sense of openness. This case discusses various aspects of its culture including the benefits and perks offered to employees. It also describes how Facebook evolved from a small company to a global corporate icon with thousands of employees. In order to meet growing business needs, Facebook opened new offices globally. However, some analysts felt that balancing growth and preserving its corporate culture was a big issue for Facebook as the company was expanding rapidly and was preparing to shift its global headquarters to a more corporate location. Maintaining culture is one of the top priorities we have as a company… We’re trying to be really smart and learn about our growth. So we’re focused on building a few offices, but making sure they are really tied into the culture.1 – Sarah Smith, Head of Facebook’s Online Operations in Austin, in 2011. Facebook is amazing. Working here offers the best environment I have ever seen in a workplace. The job is all about cooperation, not competition. The Facebook culture, office design, and management...
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...CROSSING THE CHASM. Copyright © 1991 by Geoffrey A. Moore. All rights reserved under International and Pan-American Copyright Conventions. By payment of the required fees, you have been granted the non-exclusive, non-transferable right to access and read the text of this e-book on-screen. No part of this text may be reproduced, transmitted, downloaded, decompiled, reverse engineered, or stored in or introduced into any information storage and retrieval system, in any form or by any means, whether electronic or mechanical, now known or hereinafter invented, without the express written permission of PerfectBound™. PerfectBound ™ and the PerfectBound™ logo are trademarks of HarperCollins Publishers. Adobe Acrobat E-Book Reader edition v 1. October 2001 ISBN 0-06-018987-8 The original hardcover edition of this book was published in 1991 by HarperBusiness, a division of HarperCollins Publishers. 10 9 8 7 6 5 4 3 2 1 To Marie Contents PREFACE TO THE REVISED EDITION FOREWORD ACKNOWLEDGMENTS PART I Discovering the Chasm INTRODUCTION If Bill Gates Can Be a Billionaire 1 High-Tech Marketing Illusion 2 High-Tech Marketing Enlightenment PART II Crossing the Chasm 3 The D-Day Analogy v vi Contents 4 5 6 7 Target the Point of Attack Assemble the Invasion Force Define the Battle Launch the Invasion CONCLUSION Getting Beyond the Chasm About the Author Credits About the Publisher Front Cover Preface to the Revised Edition “Obiwan Kenobi,” says Sir...
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...fictitiously, and any resemblance to actual persons, living or dead, business establishments, events or locales is entirely coincidental. Purple Cow Portfolio Book / published by arrangement with the author All rights reserved. Copyright © 2002 by Do You Zoom, Inc. This book may not be reproduced in whole or part, by mimeograph or any other means, without permission. Making or distributing electronic copies of this book constitutes copyright infringement and could subject the infringer to criminal and civil liability. For information address: The Berkley Publishing Group, a division of Penguin Putnam Inc., 375 Hudson Street, New York, New York 10014. The Penguin Putnam Inc. World Wide Web site address is http://www.penguinputnam.com ISBN: 0-7865-4431-7 PORTFOLIO BOOK® Portfolio Books first published by Penguin Publishing Group, a member of Penguin Putnam Inc., 375 Hudson Street, New York, New York 10014. Portfolio and the "Portfolio" design are trademarks belonging to Penguin Putnam Inc. Electronic edition: February 2004 In Memory of Lionel Poilane, Remarkable in Every Way. Contents NOT ENOUGH Ps THE NEW P BOLDFACED WORDS AND GUTSY ASSERTIONS BEFORE, DURING, AND AFTER THE GREATEST THING SINCE SLICED BREAD DID YOU NOTICE THE REVOLUTION? WHY YOU NEED THE PURPLE COW THE DEATH OF THE TV-INDUSTRIAL COMPLEX BEFORE AND AFTER CONSIDER...
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...17. Disruptive Innovation by Clayton M. Christensen. How to cite in your report. A disruptive technology or disruptive innovation is an innovation that helps create a new market and value network, and eventually goes on to disrupt an existing market and value network. The term is used in business and technology literature to describe innovations that improve a product or service in ways that the market does not expect. Although the term disruptive technology is widely used, disruptive innovation seems a more appropriate term in many contexts since few technologies are intrinsically disruptive; rather, it is the business model that the technology enables that creates the disruptive impact. Chapter Table of Contents 17Disruptive Innovation 17.1 Introduction 17.2 The Disruptive Innovation Model 17.2.1 Disruption at Work: How Minimills Upended Integrated Steel Companies 17.2.2 The Role of Sustaining Innovation in Generating Growth 17.2.3 Disruption Is a Relative Term 17.2.4 A Disruptive Business Model Is a Valuable Corporate Asset 17.3 Two Types of Disruption 17.3.1 New-Market Disruptions 17.3.2 Low-End Disruptions 17.4 Shaping Ideas to Become Disruptive: Three Litmus Tests 17.4.1 Could Xerox Disrupt Hewlett-Packard? 17.4.2 Conditions for Growth in Air Conditioners 17.5 Afterword 17.6 Acknowledgements 17.7 Appendix: A Brief Description of the Disruptive Strategies of the Firms in Figure 4 17.8 Commentary by Donald A. Norman 17.8.1 The theory is easy to...
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...collaboration of AB Akerlund and Rausing (Sweden). Packages Ltd. is one of the most famous and successful companies in packaging industry. It is situated at the south side of Lahore city in the industrial area., Packages emerged as a company geared to provide solutions. Sprawled over 105 acres, Packages is a dynamic example of cross-functional integration of various processes. Initially, Packages helped the consumer industry by providing packaging solutions in the form of cartons for cigarette, tea, confectionery, pharmaceutical and soap industries. However, supply of paper and board by local mills did not meet the quality requirements of the customers. As a result, in 1965 backward integration became a necessity to sustain quality output when a Paper and Board mill was put up. This happened because of strong belief in self-sufficiency and quality product development as an inherent part of the process. It is sole largest company, which is serving the 35% need of a county in its category. Today, Packages Ltd. is considered among the leading, fully integrated packaging complexes in Asia.. It was the dream of Syed Baber Ali to set up in Pakistan an industry based on local raw materials and talent. In July* Mr. Syed Mratib Ali Shah laid the cornerstone on 26th of March 1956. The construction was started from the Solid Board Department and by the end of October, 1956 the main shed of the factory was completed. At the same time the Swedish engineers with the help of Pakistani staff...
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...CHAPTER 1 WHAT IS STRATEGY AND WHY IS IT IMPORTANT? McGraw-Hill/Irwin 1. Understand why every company needs a sound strategy to compete successfully, manage the conduct of its business, and strengthen its prospects for long-term success. 2. Develop an awareness of the four most dependable strategic approaches for setting a company apart from rivals and winning a sustainable competitive advantage. 3. Understand that a company’s strategy tends to evolve over time because of changing circumstances and ongoing management efforts to improve the company’s strategy. 4. Learn why it is important for a company to have a viable business model that outlines the company’s customer value proposition and its profit formula. 5. Learn the three tests of a winning strategy. 1–2 WHAT DO WE MEAN BY STRATEGY ? ♦ What is our present situation? ● ● Business environment and industry conditions Firm’s financial and competitive capabilities Creating a vision for the firm’s future direction Crafting an action plan that will get us there 1–3 ♦ Where do we want to go from here? ● ♦ How are we going to get there? ● WHAT IS STRATEGY ABOUT? ♦ Strategy is all about How: ● ● ● ● How to outcompete rivals. How to respond to economic and market conditions and growth opportunities. How to manage functional pieces of the business. How to improve the firm’s financial and market performance. 1–4 WHY DO STRATEGY ? ♦ A firm does strategy: ● ● ● To improve its financial performance. To strengthen...
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...industry, but also because the band allowed listeners to pay whatever they wished for it. Some 60% of those who seized the opportunity paid nothing at all, but the band seemed pleased with the result; one estimate had it earning nearly $3m from the experiment. One group outside the music industry taking an interest was a trio of professors then at the Rady School of Management at the University of California, San Diego: Ayelet Gneezy, Uri Gneezy and Leif Nelson (who is now at the Haas School of Business at the University of California, Berkeley). Inspired, they designed a series of experiments to gauge whether pay-what-you-want pricing would work for other businesses. Their most recent experiment, co-authored with Amber Brown of Disney Research and published in Science, also stirred in a new element: would it make any difference if firms donated some of the pay-what-you-want fee to charity? The authors set up their pricing experiment at the exit of a roller-coaster ride at a large amusement park. Riders were offered a photograph of themselves, snapped mid-coast. The usual price was $12.95, but on one day riders were told they could pay what they wished, including taking the photo for free. A second group was charged the full price but told that half the money would go to a well-regarded health charity. Yet a third group...
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