...pressures Don't know | Increased competition | Increased competition Primary driver | Increased competition Secondary driver | Increased competition Not a driver | Increased competition Don't know | Changing customer needs | Changing customer needs Primary driver | Changing customer needs Secondary driver | Changing customer needs Not a driver | Changing customer needs Don't know | Changing technology landscape | Changing technology landscape Primary driver | Changing technology landscape Secondary driver | Changing technology landscape Not a driver | Changing technology landscape Don't know | Need to develop new markets / segments | Need to develop new markets / segments Primary driver | Need to develop new markets / segments Secondary driver | Need to develop new markets / segments Not a driver | Need to develop new markets / segments Don't know | Need to scale new concepts and ideas faster | Need to scale new concepts and ideas faster Primary driver | Need to scale new concepts and ideas faster Secondary driver | Need to scale new concepts and ideas faster Not a driver | Need to...
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...SR-rm-022 to Smith Services Consulting Inc. coveting to incorporate the current mixture of HR devices into a solitary coordinated application utilizing today's current apparatuses as a part of the HR framework. This solicitation will influence all plant areas of Riordan Manufacturing. Riordan might want to exploit a more complex, state-of-the-workmanship, data frameworks engineering in their Human Resources division. The normal results will characterize the business necessities for the improvement of a HR framework to backing the target of this appeal. The destination is to make a point by point framework configuration and an undertaking usage arrangement needed to finish the venture. The venture ought to be finished in give or take six months, so the new framework can be used in the second quarter of one year from now (Apollo Group, Inc. 2011). Smith Services Consulting Inc. has gotten my administrations as a frameworks examination to investigate the HR framework at Riordan Manufacturing. The business needs and current specialized assets must be characterized first before the investigation is started. The current...
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...Introduction to Entrepreneurship Search Funds: Buying a Business Finding an Idea Find a Team Legal Issues Business Plans Funding Managing and Growing the Venture HBS Entrepreneurs Services for Students Evaluating New Venture Opportunities Conversations with Venture Capitalists What makes for the ideal entrepreneurial opportunity? To learn about the frameworks firms use when evaluating potential venture opportunities, Mike Roberts, executive director of the Arthur Rock Center for Entrepreneurship, and HBS senior research associate Lauren Barley recently interviewed four venture capitalists from leading firms in Silicon Valley. The following are excerpts from their responses. Russell Siegelman (MBA '89) Partner, Kleiner Perkins Caufield & Byers The most important requirement is a large market opportunity in a fast-growing sector. We like a company to have a $100 million to $300 million revenue stream within five years. This means that the market potential has to be at least $500 million-or more, eventually-and that the company needs to achieve at least a 25 percent market share. The second factor involves a competitive edge that is long lasting. It is usually an engineering challenge that is tough enough to give the company an edge, resulting in several years lead or longer, if we're lucky. We look for a tough problem that hasn't been solved before. The solution can't be so straightforward that someone can look at the blackboard and say, "I know how to...
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...sandpaper and Drew was in the shop to test out a new batch. Masking Tape When he entered the shop employees were expressing disappointment at a failed attempt to paint a car in the two-tone style that was becoming popular at the time. Masking Tape Typically how the effect was achieved was by painting part of the car in one colour while covering the other parts with butcher paper The butcher paper was usually held in place with a heavy adhesive tape. Unfortunately, removing the adhesive tape peeled away part of the paint job. THE IMPORTANT BIT: Rather than just sympathise with his customers and move on, Drew decided to do something about it. Masking Tape His company 3M had a lot of know-how in creating adhesives from making sand paper, so Drew figured he would try to make a paper tape to help solve his customer’s problems. Drew began experimenting with a range of materials and manufacturing processes to solve this problem. William McKnight 11 November 1887 – 4 March 1978 Businessman who served his entire career in the 3M corporation. McKnight encouraged 3M management to delegate...
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...to generating, converting, and diffusing ideas. by Morten T. Hansen and Julian Birkinshaw Mick Wiggins E XECUTIVES IN LARGE COMPANIES often ask themselves, “Why aren’t we better at innovation?” After all, there is no shortage of sound advice on how to improve: Come up with better ideas. Look outside the company for concepts and partners. Establish different funding mechanisms. Protect the new and radically different businesses from the old. Sharpen the execution. Such strategic counsel, however, is based on the assumption that all organizations face the same obstacles to developing new products, services, or lines of business. In reality, innovation challenges differ from firm to firm, and otherwise commonly followed advice can be wasteful, even harmful, if applied to the wrong situations. hbr.org 1179 Hansen_new.indd 121 | June 2007 | Harvard Business Review 121 5/2/07 8:05:09 PM The Sophisticated Innovator Consider how two different CEOs confronted the innovation challenges facing their companies. When Steve Bennett joined Intuit, the maker of the financial software programs Quicken and QuickBooks, in January 2000, it was a company with lots of ideas – most collected from outside the organization – but little discipline for bringing those ideas to market. “We had a lot of energy focused on learning from customers,” the CEO recalls, “but we were struggling to decide which ideas would have the highest impact.” To fix this...
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...1. Is Dutt an Entrepreneur? If yes, why? Ans. Yes, Dutt is an Entrepreneur. after the demise of his father’s death, Dutt was more into supporting his family by joining TISCO, where he was indeed acting as an employee to normalize his present situation. But due to a forced interest generated by his friend Bhatia, who placed an idea of starting a venture in partnership, then came an interest to invest in that idea by Dutt. Due to his mid work life crises, where his work environment was constantly changing, he entered into a contract with his fellow mate to give it a larger picture for his fluxed dream venture. 2. If yes, is he a born entrepreneur or made epr? Support your view with reasons. Ans. It is clearly seen in the case, where Mr. T.K. Nehru shared a bold ideology of putting up an Ancillary Unit to provide engine tappets, valves and other important components to industry majors, which in turn gave Dutt & Bhatia a strong ground to go further with the idea. Even at some point of time, Dutt found his management ineffective and understood that his team was not proactively participating. Dutt immediately started looking around for support and searching for the finance in order to execute the project. 3. Is Chakravarthy an entrepreneur? is he an intrapreneur? Is he a good CEO? Ans. Mr. Chakravarthy was neither an entrepreneur nor an intrapreneur he was a pure Professional, where he helped them inducing a bulk amount in their project, helped Dutt to improve his...
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...climate supporting continuous search for opportunity * Framing * Stocking an opportunity register * Focus * Promoting adaptive execution Entrepreneurial leadership: The most important job Although uncertainty might cause many to freeze, it can be used to your benefit. Uncertain situations are full of new opportunities. Your task is to continuously identify high-potential business opportunities and exploit these opportunities with speed and confidence. Thus, uncertainty can become your ally, not your enemy. Entrepreneurial leaders are distinguished from other managers by their personal practices. These fall into three categories: setting the work climate, orchestrating opportunity-seeking and moving particular ventures forward personally. * Climate setting practices create a pervasive sense of urgency for everyone to work on new business initiatives. Dedicate a disproportionate share of your own time, attention and discretionary resources to finding and supporting new business models. Gary Wendt, who drove massive growth at General Electric Financial Services, demonstrated this principle. He consistently, predictably made new business development his top priority agenda item - at every meeting and chance encounter. * Orchestrating opportunity seeking involves removing uncertainty from your people by clearly specifying what type of entrepreneurial opportunities are wanted. We call this 'ballparking.' A Swedish...
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...9-10 Recommendation…………………………………………………………………………11 Conclusion………………………………………………………………………………..12 References……………………………………………………………………………..…13 Executive Summary ABC Corporation is a retail establishment that has attained a stronghold in the United States through brick and mortar stores. Desiring to increase revenue and broaden its customer base, ABC is currently entertaining the idea of entering the online sales arena. Allison Enright, (2012) Editor of Internetretailer.com, states that,” U.S. e-commerce sales accounted 5.1% of total retail spending, according to an estimate released last month by the U.S. Department of Commerce. It is the first time that e-commerce as a percentage of total retail spending has topped 5%.” These figures suggest ABC’s desire to break into online markets is both timely and fiscally sound. With ever increasing demands on time, today’s consumer is focused on maximizing efforts in the most efficient way. Convenience is the primary motivation for online shoppers according to Bernadette Tracy (2000) from MediaLife Magazine. Price is a secondary concern. By entering into the online market ABC Corporation will be better...
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...Hill Contents 1 Venture Capital 4 2 Mechanics of raising equity capital 5 2.1 Equity financing for private companies – Sources for funding 5 2.1.1 Angel Investors 5 2.1.2 Venture Capital Firms 6 2.1.3 Institutional Investors 6 2.1.4 Corporate Investors 6 2.2 Outside Investors 6 2.3 Exiting an Investment in a Private Company 7 3 The process of start-up funding 8 3.1 Idea and co-founder stage 8 3.2 Family and friends stage 8 3.3 Seed or angel round 8 3.4 Venture Capital Round 8 4 The Initial Public Offering 10 4.1 Advantages and Disadvantages of Going Public 10 5 Key Elements for successful Entrepreneurship 11 6 The importance of Silicon Valley in the U.S. venture capital system 13 6.1 Venture Capital Investment in the U.S. 13 6.1.1 Venture Capital Investment since 2006 13 6.1.2 Investment by industry 13 6.1.3 Investment by regions 15 6.2 Evolution of Silicon Valley 15 6.3 Silicon Valley – an advanced high tech entrepreneurial habitat 16 6.4 The Power of Clustering 16 6.5 Features of an advanced high tech entrepreneurial habitat 16 6.6 The high-tech habitat: Value-added support 17 6.7 Impact of Stanford University on Silicon Valley 18 7 Entrepreneurship and Funding - Differences between Europe and U.S. 19 7.1 Venture Capital Investment in Austria and Europe 19 7.2 Development of Private Equity in Austria 20 7.3 Development of Private Equity in Europe 20 7.4 Venture Capital Investors...
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...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 map of the future • Tool to refine idea and examine technocommercial viability • Facilitates (forces)...
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...key 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...
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...focus was photography and imaging, and its products ranged from photography equipment to film, paper and color chemicals. By the 1980’s, Kodak’s market share reached an amazing 90%. Although they developed the basic technology for digital cameras in 1975, the idea was dropped due to fear that it would threaten the company’s film business (Williams, 2013). Because Kodak executives could not imagine the world without traditional film, they failed to realize how fast digital cameras would become common; the technology started to spread and film sales dropped considerably at the late 1990’s. The slow transition to digital technology, denial of the declining film usage, and competition from other companies eventually lead to Kodak’s loss of market share both in the United States and worldwide, placing Kodak at a 7th position. In January 2012, the company filed for Chapter 11 bankruptcy protection, and a year later the Court approved financing for them. Kodak sold many of its patents to a group of companies such as Apple, Google, Microsoft, and others. Fujifilm, a Japanese company, was founded in 1934. They also focused on photography and imaging. The company soon ruled the Japanese market, which was ranked second after the United States in film usage. Eventually, the company entered the global and American market with a bold move, using aggressive marketing and low prices. The turning point of the Fujifilm’s success in this venture was marked by the 1984 Los...
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...ECommerce Technologies 1 Defensive posture of Li & Fung to the Internet at the beginning “Would the Internet disintermediate us? Would we get Amazoned by someone who will put together all of the information about buyers and factories online?” Answer: The Internet facilitates supply chain management and Li & Fung were not going to be disintermediated Key: have the old economy know-how and yet be open to new economy ideas 2 2006/9/13 ECT 7010 Fundamental of E-Commerce Technologies Internet Issues August 2000, beta launch of the new Businessto-business(B2B) e-commerce portal Important issues: Was there any chance of channel conflict or cannibalization between the offline business and the start-up? How would the market reach to the start-up once it was launched the following year? How specifically would e-commerce ultimately transform his family’s century-old company? 2006/9/13 ECT 7010 Fundamental of E-Commerce Technologies 3 Company Background 2000 – Li & Fung a $2 billion global export trading company 3,600 staff worldwide Sourcing and managing the global supply chain for high-volume, time-sensitive consumer goods Product mix – hard and soft goods Soft goods – apparel, including woven and knit garments Hard goods – fashion accessories, festive or holiday products, furnishings, giftware, handicrafts, home products, furnishing, home products, fireworks, sporting goods, toys, and travel goods 2006/9/13 ECT 7010 Fundamental of E-Commerce Technologies 4 ...
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...LEADERSHIP Six Ways to Sink a Growth Initiative by Donald L. Laurie and J. Bruce Harreld FROM THE JULY–AUGUST 2013 ISSUE T he CEO is confronted with a dilemma: The revenue and profits of his company’s existing businesses are rising slowly, and the businesses have already slashed their costs as much as they dare. Because their markets are mature, he knows that the company must grow if the share price is to increase, but acquisitions are expensive and risky. So he launches a slew of initiatives in areas with high growth potential and appoints some promising young managers to lead them. To ensure that the new ventures aren’t stifled, he has their managers report to a special growth committee headed by a trusted staff executive and locates them a safe distance from the established businesses. Sound familiar? It should, because that story has played out at hundreds if not thousands of large and midsize companies over the past 20 to 30 years. But after working for, advising, and studying scores of companies, we have learned that this conventional wisdom about how best to pursue growth is a recipe for failure—which explains why most new businesses launched by established companies die, and why only a tiny fraction of companies around today, including major corporations, will be here in 25 years. All too often CEOs and their senior teams see managing today’s earnings as their main job and don’t spend enough time on the pursuit of growth and building the...
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...supply and equipment industry. When the industry changed both companies were impacted, but due to very unique management styles and ability to adapt to change one Fujifilm excelled while Kodak faltered and eventually declared Chapter 11 Bankruptcy in 2012. History of Kodak George Eastman founded Kodak, in 1888. The company’s early success was based on the new technology for cameras. The camera simplified the photo taking process (Williams, C. 2013) Kodak’s main focus was photography and imaging. They had an array of products that ranged from photography equipment, film, paper and color chemicals. In the1980’s, Kodak’s market share reached 90%. This was a very special moment in the company’s history. Kodak developed the first concept of the digital camera in 1975. Their executives could not imagine the world without traditional film; unfortunately, the idea was dropped because they feared it would threaten the company’s film business (Snyder, 2013). Digital cameras would become common; the technology started to spread and film sales dropped considerably at the late 1990’s. Kodak made a slow transition to digital technology. Unfortunately, their competitors adapted to change. This lead to Kodak’s loss of market shares both in the United States and worldwide. The company filed for Chapter 11 bankruptcy protection. After one year of continuous battle to keep the company “alive”, the court approved financing for them. Kodak sold many of its patents to groups of companies such as;...
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