Friday, July 15, 2016
My Unfair Advantage
Resources & "VRIN" Analysis :
1. First goal of my venture is social contribution
VRIN : Fairly valuable(It is hard to think of social contribution when we do own business) Fairly rare(There are some other venture also do the social contribution) inimitable(No, everyone can do it. Also, I want everyone imitable for this one) substitutable (I think there are many ways to contribute to social)
2. Make an safe and quality product
VRIN : Fairly valuable(It is important to make the product safe and good quality) inimitable(Most company makes the product safe and good quality, but some are not) Non-substitutable(There are no substitutable to make product safe and good quality)
3. I know well about how to get the materials what I need for this business
VRIN : Valuable, Somewhat rare(Many business starter doesn't know very well about where the materials supplies) Somewhat inimitable(Some people knows well and some people not) Non-substitutable (To know about how to get the materials are very important. There are no substitutable for this)
4. My business has various and creative
VRIN : Fairly valuable, Somewhat rare (My idea is creative but some people should think about it for once) Somewhat inimitable( Some people can copy the idea but it is hard to make same product as mine) Somewhat substitutable (I told that there are various for make this so it can be substitutable)
5. I have experience for doing the venture
VRIN : Fairly valuable (It is important that if I have an experience, it will helped a lot) rare, inimitable, non-substitutable (There are no substitutable to do something by own self)
6. Have a good networking for the venture
VRIN : Very valuable (Networking for the people is very important in business), Rare( It is rare because it is hard to make networking that people we need) Inimitable, Non-substitutable
7. I have passion for the business
VRIN : Very valuable ( It is most important that having passion for what I'm doing because it will make easy to success) Somewhat rare, inimitable, Non-substitutable( If you don't have a passion for your business then you might stop the business as soon as possible)
8. I know what people need
VRIN : Very valuable (To know people's demand are very important because demand makes to success the venture) Somewhat rare (many people does not know what people really need) inimitable, Non-substitutable
9. I can do the venture any place I want
VRIN : Somewhat valuable (To choose the business place is important because it is related to people's demand) Somewhat rare(Some business require the weather condition), inimitable, Somewhat substitutable
10. Makes buyer satisfied
VRIN : Very valuable (It is important that satisfied the buyer because they can buy next time also) Somewhat rare, inimitable, Non-substitutable(It cannot be substitutable because there are nothing important then make buyer satisfied)
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Jooncheol,
ReplyDeleteFirst of all, great job on the organization and presentation of the assignment. Your VRIN analysis was extremely well put together and met the criteria. In addition, your list of the 10 resources were great and well thought out. Keep up the great work.
I think you laid out your resources very well and it seems like you spent a lot of time thinking of what they were because most very valuable to your business venture and would contribute a lot. I think the best resources for your venture would be being a good network so you can meet a lot of people who will initially try out your product and tell you what they think, and making buyers satisfied so they will continue to use your product/service.
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