Saturday, July 16, 2016

Unfair Advantage

  • Generate a list of all of the resources in your venture (produce a list of at least 10 resources that you already possess). This can include your human capital, social capital, financial capital, and capabilities. You may also discuss the organizational culture you intend to create (but, obviously, it's not a resource that you have, now.) 
    • Resources: 
      • Social capital - I have built a large networking community in Florida and New Jersey 
      • Human capital - I know many people who would be willing to join any serious projects as my employees. 
      • Financial capital - I am in contact with a few investors who would be willing to mentor me as I look to get into the stock market. 
      • Human resources - I am talented in maintaining and leading any public relations/human resource sector in a group project (capability) 
      • Ability to implement reactive business strategies - I am able to seek and identify competition for group projects which will allow for planned opportunities to sell products (capability) 
      • Organizational culture - I plan to organize a company culture that will hire self-motivated employees who want to be leaders within the company because of what we stand for. Most of my ideas seems to deal with electronics, so I would want to also encourage a culture that is obsessed with technology. 
      • Knowledge of information technology - I'm not unfamiliar with most information technology so I'm sure that competency will help when I brainstorm for different products to develop and sell (capability) 
      • Emotional resources - As an entrepreneur, it's very important to remain adaptive, persistent, and patient. I am able to keep my emotions under control and push the ideas that I plan to develop into products or into any services (capability) 
      • Great writing ability - While I mainly study effective marketing and public relations strategies, I write very well. Here's an example of my work in the Alligator newspaper: http://www.alligator.org/news/campus/article_07f32758-e5ae-11e5-8a75-0b525e0c5685.html
      • Futuristic - I am able to analyze how well products would sell in the future and how they fit it in with current news trends (capability) 
  • Conduct a "VRIN" analysis for each resource. That is, describe, for each resource, how it is valuable, rare, inimitable (how hard it is to copy by others), and non-substitutable (are there other resources that can provide the same benefits?). 
    • VRIN
      • Social capital - I have built a large networking community in Florida and New Jersey 
        • Valuable 
      • Human capital - I know many people who would be willing to join any serious projects as my employees. 
        • Valuable 
      • Financial capital - I am in contact with a few investors who would be willing to mentor me as I look to get into the stock market. 
        • Valuable 
      • Human resources - I am talented in maintaining and leading any public relations/human resource sector in a group project (capability)
        • Rare
      • Ability to implement reactive business strategies - I am able to seek and identify competition for group projects which will allow for planned opportunities to sell products (capability) 
        • Valuable
      • Organizational culture - I plan to organize a company culture that will hire self-motivated employees who want to be leaders within the company because of what we stand for. Most of my ideas seems to deal with electronics, so I would want to also encourage a culture that is obsessed with technology. 
        • Inimitable 
      • Knowledge of information technology - I'm not unfamiliar with most information technology so I'm sure that competency will help when I brainstorm for different products to develop and sell (capability) 
        • Valuable 
      • Emotional resources - As an entrepreneur, it's very important to remain adaptive, persistent, and patient. I am able to keep my emotions under control and push the ideas that I plan to develop into products or into any services (capability) 
        • Rare 
      • Great writing ability - While I mainly study effective marketing and public relations strategies, I write very well. Here's an example of my work in the Alligator newspaper: http://www.alligator.org/news/campus/article_07f32758-e5ae-11e5-8a75-0b525e0c5685.html
        • Valuable 
      • Futuristic - I am able to analyze how well products would sell in the future and how they fit it in with current news trends (capability) 
        • Valuable 
  • After conducting the VRIN analysis, determine what your top resource is. Explain why it's more important to your venture than all of the other resources.
    • My top resource is my organizational culture because I believe that people gravitate toward powerful messages. Building any company from the ground up requires diligence to overcome common obstacles. Culture is what inspires people to act on their visions, and if I can instill a culture into employees that inspires them to build products that honestly makes life easier for our customers despite the roadblocks that will come, I should be successful. 

1 comment:

  1. Hi Brian,

    I read the article you wrote for the Alligator. It sound like that was an event worth attending. And good job on the write-up!

    Based off your resources and your VRIN analysis, it sounds like you have all your resources figured out. I also like that you annotated your capabilities. I think specifying each individual resource (person) would give your write-up more weight and could even help you see how you may be able to utilize current resources in other formats. Well done, overall!

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