Ask Operation Management Expert

Part 1.Answer the following questions, within 100 words minimum

1. Read"Ch. 2 "Individual Leadership and Entrepreneurial Start-Ups"Explain the topics in this chapter.

2. Describe the major difference between an idea and a feasible opportunity.

3. Why does just having an idea not sufficient for a successful business?

4. Read"Ch. 3 "Business Idea Generation and Initial Evaluation"Explain the topics in this chapter.

5. Describe process used to generate new business ideas,

6. Evaluate the distinguishing features of your product or service. (Electrical Contractor)

7. Read"Ch. 4 "External Analysis"Explain the topics in this chapter.

8. Analyze competitive advantages and customer profiles.

Innovation

9. Why does a business must always be innovating and not just at the start of the venture?

10. What would happen if innovation and creativity is lost from the business?

Part 2. Business Model Comparison

Identify an industry with which you are familiar, then choose two businesses in that industry.

1. Electrical Contractor.

2. Data Centers

Identify the business model and forms of ownership for each business, then complete the Comparison of Businesses Matrix.

Write a 350- to 525-word paper in which the team evaluates and compares different components of each business's model after completing each matrix.

Describe benefits associated with each business by evaluating how they built a sustainable competitive advantage.

Explain advantages and disadvantages of each business's ownership.

Format your paper consistent with APA guidelines.

Part 3. Business Opportunities and Competitive Advantages

Note: The Business, is an Electrical Contractor in northern California (Residential, Commercial, Industrial, Public works, etc.)

For this assignment, you will be assessing potential business opportunities and competitive advantages for your product(s)/services(s).

The goal is to describe what you're planning to sell, the consumer need that your product(s)/services(s) will satisfy, who your target market is, and how you will differentiate yourself from your competitors in the marketplace.

Research potential business opportunities on the Internet, as well as relevant topics that can help you to cultivate new business ideas.

Keep in mind that it's better to smart small and grow your idea or market than to try to take on too much initially.

Write a 525- to 700-word paper in which you describe your potential business opportunity and complete the following:

• Describe the product(s) or service(s) that you are planning to sell.

o How much will you charge for your product(s)/service(s)?

o How often do you plan to sell your product(s)/service(s)?

o Will your product(s)/service(s) require frequent updates? (e.g. software apps)

• Explain how your product(s)/service(s) will meet an unmet consumer need or problem. For example:

o Is it a new product or service that does not yet exist, or a refinement of an existing product or service?

o Does your product/service cater to a specific type of consumer or need?

o Are you able to offer your product/service for a cheaper price than your competitors?

o Do you offer your product/service at a more convenient location or with better hours? (e.g. over the Internet, a franchise in a growing neighborhood, 24/7 access)

• Assess your target market or customer. For example:

o Are you meeting a Business-to-Business (B2B) and/or Business-to-Consumer (B2C) need?

o Are your consumers within a specific demographic or business field, or across a wide range of market segments?

o How large is your target market?

o What are your specific customer needs or expectations?

o How will your product(s)/service(s) satisfy the needs or expectations of this target market?

o How much and how often do you expect your customers to purchase your product(s)/service(s)?

• Explain how you will differentiate yourself from your competitors in the marketplace. (i.e. how are your products or services cheaper, faster, better, specialized, personalized, etc.?)

Include any research, references, or other information needed to support your business concept.

Operation Management, Management Studies

  • Category:- Operation Management
  • Reference No.:- M92814206
  • Price:- $50

Priced at Now at $50, Verified Solution

Have any Question?


Related Questions in Operation Management

Conflictdefine functional versus dysfunctional conflict in

Conflict Define functional versus dysfunctional conflict in a work group and explain how you can increase functional conflict and decrease dysfunctional conflict. Develop a response that includes examples and evidence to ...

For this assignment you will need to find 2 articles in

For this assignment, you will need to find 2 articles in business that can help describe what are IT strategic initiative being undertaken by an organization are like. Choose a different organization for each of the arti ...

Coping with problems joe is a little nervous he has just

Coping With Problems Joe is a little nervous. He has just been transferred from another plant to take over a production line. Production is down and there is a serious problem with absenteeism. To make matters worse, the ...

Over 30 years ago michael porter identified a holistic

Over 30 years ago Michael Porter identified a holistic approach to understanding how competitive forces shape strategy. He posited that the only way to truly insulate an organization from underlying economic volatility i ...

You are the contracting officer for an air-to-ground

You are the contracting officer for an air-to-ground missile development program. A contract for pre-production models of the missile was awarded by your predecessor and the contractor is behind schedule. In a program me ...

The ikea case provides an excellent opportunity to apply

The IKEA case provides an excellent opportunity to apply strategic management concepts to a large privately-held company that is expanding into India. IKEA is a Netherlands-based Swedish company with a presence in 44 cou ...

Can you answer for me the following questions about social

Can you answer for me the following questions about social loafing and the three main causes of free-riding. 1. Give a description of the phenomenon of social loafing. 2. Give a description of the phenomenon of free-ridi ...

1 analyzing the bridgestonefirestone and ford motor company

1. Analyzing the Bridgestone/Firestone and Ford motor company, is it sufficient to use the ISO/QS 9000 standards as the main basis of vendor/product selection? 2. What position to these cars company ( 1. Volkswagen, 2. F ...

Research the effect of primary and secondary seat belt laws

Research the effect of primary and secondary seat belt laws on the occurrence of motor-vehicle injuries and fatalities. Explain how epidemiologic studies influenced the development of current seat belt laws. Describe how ...

Please provide a brief paragrap of the key takaways from

Please provide a brief paragrap of the key takaways from each of the following topics: Designing Clear Visuals in business reports Designing Successful Documents and Websites Writing Winning Proposals

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As