1. What is the opportunity that the entrepreneur’s) in the case have identified? 10%
In this case study, the opportunity to open up a new tent manufacturing business that will cater to the existing and emerging trends in the market, which are neglected by Wilderness’ management and their business strategy, is identified.
2. How would you assess the entrepreneurs) in the case? Do they have the skills, knowledge, experience, resources and motivations to undertake the opportunity identified in the case. 10%
Based on their personal backgrounds, the entrepreneurs have their own strengths and weaknesses in terms of the skills, knowledge, experience, resources and motivations. These can be used to do good or even harm the new business.
For being the main man, he is guided with experiences in his previous employments. The previous employment experiences of enable him to acquire skills, knowledge and other important competencies that make him a competent vice president in Wilderness. His engineering background is very appropriate on the aspect of manufacturing. He indeed has keen attention to details as he diagnosed the problems in Wilderness. He is gifted with the ability to solve problems using new formula rather than the existing standards. His attitudes towards planning and execution are very commendable. is a risk taker, a trait that is very fundamental to every entrepreneur. He is very optimistic and flexible. He is motivated with the desire to fill the gaps of the current tent manufacturing industry in the country. Although this seemed to be very ambitious, it worked to his advantage as he was able to motivate himself to provide products and quality service to the customers, thus resulting to an opportunity to come up with his own business. The only problem on is the lack of capital for the business to be launched.
For , he is also capable to work in opening up a new tent manufacturing industry but he is not in the operations but in managing people. This is based on his previous experiences as leader way back his academic years. His ability to work harmoniously with people will bring positive feedback to the business as it is considered that people are the fuels of the business. Same with, the knowledge and experience are based on their previous employment. Moore is motivated by the promising opportunity that is offering him. He is also fascinated with character as manifested in his high regard to the man. However, his constant admiration to might result to blind obedience or potential problems in their professional working relationships. This also goes to since both have their individual core competencies. Like he is also lacking in financial resources, which is a main factor in putting up a new business.
3. Evaluate the opportunity that is identified in the case using the analytical tools you have covered in class 50% points.
Political
Government regulations and other legislation now mandate the establishment, integrity, accessibility and long-term retention of business
Laws governing competition exist and should be complied upon
Economic
Economic trends such as inflation and other economic factors that may hinder the economy, market niche, and eventually consumer purchasing power
Higher tariffs
Prices of raw materials, labor and production costs are overwhelming
Industry trends that can affect financial resources
Social
Changes in people’s lifestyle and other market demographics
Consumer buying behaviors and trends that emerge and changes
The strong influence of technology
Technology
The advancements in manufacturing technology
The ambivalence of technology as it can create threats and opportunities for the business
4. Based on your evaluation, should the entrepreneurs start the business? Why? 10%
The opportunity is present at hand and can be of great potential but not on the case of and Provided that and agreed on having this type of venture, it is not yet the right time to start the business because of the following reasons:
· Market trends
o The inability of the six major tent manufacturers to deliver quality products and services to customers because they were unable to keep pace wit the growing market
o Poor deliveries prevailed in this period, while production by the “big six” was expanding at an annual rate of 20 percent
o Strong retail demand leading to a severe erosion of product quality as a result of haphazard industry expansion
· Financial and manpower constraints
o The lacking or even missing source of capital for the business
o Labor capital is critical
· Corporate reputation risk as a result of the scandal on the sudden resignation of both upper management employee
5. Would you invest in this opportunity? 10%
With the consideration of all the discussions provided above, I will not invest in this opportunity as there are many challenges that are still needed to be addressed by and . Uncertainty is high. Any investment is risky, thus sound decision making and taking are needed.
6. Can you see a better opportunity? If so, describe. 10%
There is another opportunity for and but not at the present situation. They should work more on their ‘ambitious’ plan. They needed more solutions to the barriers of starting up the venture. Also, the source of financial capital is very difficult. Another opportunity that is considered better is for to compromise with the current management of Wilderness and present his arguments and points in the proper managerial forum.
Credit:ivythesis.typepad.com
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