Entrepreneurship

1. Ensure you are familiar with the theory contained within the sliderocket presentation to the right.

2. Choose a firm in your local area to audit.

3. Complete your audit be considering the questions below in terms of (a) your opinion as to where you see your chosen firm in relation to each question below, and (b) by stating what the firm could do to better ensure there survival/performance.

4. In completing this task, divide your report into two sections. The first section (a) will demonstrate your ability to apply the ideas we have discussed in the unit to a firm of your choice. In section (b) demonstrate you ability to apply the ideas in a strategic manner vis-a-vis the firms future performance.

The Questions

Section A
1. What idea is the firm’s operation based upon (i.e. why do they exist? what are they trying to acheive?)
2. What type of resource profile exists within the firm? (i.e. do you have sufficient social, human and financial capital?)
3. What forms of legitimacy does the firm and its operations have?
4. Describe the nature of the external environment.
5. Describe the nature of the selective and ecological environment.
6. Describe the nature of change in the firm’s industry with reference to the process of vartiation, selection and retention.
7. Describe the processes through which you feel the firm is creating value (i.e. value chains/shops and networks).
8. Describe the strategic positioning of the firm (i.e. r vs K and specialist or generalist).
9. What forms of emergy do you think may relate to the operation of the firm?

Section B
1. Should the basic idea the firm’s operation are based upon be changed?
2. Could the resource profile within the firm be improved?
3. If legitimacy issues exist, what could be done to lessen their impact?
4. In terms of the firm’s immediate future, what factors in the external environment are of most concern?
5. In terms of the firm’s immediate future, what factors in the selective and ecological environment should be focussed upon?
6. In terms of the industry’s immediate future, how do you see change occuring?
7. In what ways could the firm create new forms of value through combinations of value chains/shops and networks?
8. Should the firm be positioned differently vis-a-vis r vs K and specialist or generalist positioning?
9. What forms of emergy do you think the firm could better tap into?

Entrepreneurship
Based on the case of Spanx, assess the opportunity using the key models mentioned below, identify why both the opportunity and its bring to market strategy was so effective. The key areas you need to analyze are related to (i) the “Seven domains of attractive opportunities” by J. Mullins; (ii) The POCD framework of W. Sahlman; (iii) The Business Model Canvas; (iv) The testing method presented during the module.

Once a thorough assessment has been made, create a set of recommendation to new entrepreneurs, outlining what can be learned and how the startup process can be improved using the lessons learned from the case.

The report is in essence an opportunity to learn from a very successful business model, illustrating the importance of constantly challenging the way things are normally done.

support video: https://m.youtube.com/watch?v=3TqeOuEdUck

Entrepreneurship
Based on the case of Spanx, assess the opportunity using the key models mentioned below, identify why both the opportunity and its bring to market strategy was so effective. The key areas you need to analyze are related to (i) the “Seven domains of attractive opportunities” by J. Mullins; (ii) The POCD framework of W. Sahlman; (iii) The Business Model Canvas; (iv) The testing method presented during the module.

Once a thorough assessment has been made, create a set of recommendation to new entrepreneurs, outlining what can be learned and how the startup process can be improved using the lessons learned from the case.

The report is in essence an opportunity to learn from a very successful business model, illustrating the importance of constantly challenging the way things are normally done.

support video: https://m.youtube.com/watch?v=3TqeOuEdUck