3 pages/≈825 words
Business & Marketing
Entrepreneurship (Case Study Sample)
1) Please read the case which I upload it as photos 2) Answer the two questions of the case. I high line the questions on the following documents as well. 3)write a 3 pages of report which address those two questions. (please combine those two question together, you do need to separate them) For question1: try to elaborate the ideas I have below, any new ideas are welcome. The text which have bracket is something I quote from the text book. I will do the citations for them. For question 2: develop a business plan. Please do some statistic research which is relevant to the topic, on statistics Canada (http://www(dot)statcan(dot)gc(dot)ca/start-debut-eng.html), to make it more professional. 4) thank you for your hard work. If you have any question, please email me. Course: Entrepreneurship Question1: If you were the CEO of bOK systems which option or combination of options would you choose? My choice: 2)Tweak the idea to make bOK ahead of the game 6)Quit all other engagements and focus on bOK full time Reason: - superior business opportunities 1) they create or adding significant value to customer or end-used. The customers pay very high price for the daytime talking minutes. If they want to call aboard, they need to buy calling cards. It takes time and money. 2) they do so by solving a significant problem, meeting significant wants or need- for which someone is willing to pay a premium. Customers are looking for ways to save money and they want to talk without worry about the phone bills. 3) they have robust market, margin, and money making characteristics that will allow the entrepreneur to estimate and communicate sustainable value to potential stakeholders 4) they are a good fit with the founders and management team at the time and the market place-along with attractive risk-reward balance The founder Aydin Mirzaee graduate with degree in electrical and computer engineering and a minor in entrepreneurship and management. He works full time for a large multinational telecommunications equipment manufacturer. He is pretty professional with how to operate the telecommunications business. - higher potential business can identify a market niche for a product or a service that meets an important customer need and provides high value-added or value- created benefits to customers - bOk system have highly value-added potential nature. - (new ventures that are based on strategic value in an industry such as valuable technology, are attractive, while those with low or no strategic value are less attractive) - attractive opportunities have existing teams that are strong and contain industry superstarts. - A management track record of significant accomplishment in the industry, with technology, and in the market area, with a proven profit and lots of achievement where the venture will compete is highly desirable - opportunity cost of quitting the jobs - timing(good timing) the big telecommunication companies are monopoly the market . the customers need to pay high premium for call bills. They do seeking way to save - shaping your opportunity - It is a real time for bOK. It satisfied the customer's need. 2)how would you go about implementing those choice do a small business plan base on the those choices some ideas of the implementation (please add more ideas, I cannot get venture capital from venture capitalist to fix the technique problem we have for now. Get more capital to cover start-up cost(entrepreneurs who not only succeed at developing a great business concepts but alsoattract the right investors who can add a great deal of values to the venture though their experience, wisdom, and networks are usually very savvy listenser) - hire marketing people to put the product in to the market and increase sales (Selling ability is one of the most common denominators among successful entrepreneurs) source..
bOK is a company that was started by Ayadin an engineering and computer studies student. He identified the need to provide a cost effective way to communicate with family, friends and business associates. This was on realizing that the talk time providers offered a free of charge incoming call provision that allowed people to receive as many calls without charges. Ayadin cooperated with his acquaintances to develop a system that drastically reduced calling charges among university students that used it in its test or trial stage. A person wishing to make a call sends a text containing the number of the recipient to the bOK system, which initiates a call on both the caller and the recipient ends. This system is an ingenious way to reduce calling charges, as the people are not charged when they receive incoming calls. However, technical hitches struck the system when it could not support high traffic. It is necessary to dedicate sufficient time and resources to improve the infrastructure’s capacity to accommodate high traffic and to provide high service level attention to all the customers.
It is important that the CEO Ayadin Mirzee abandons all the other commitments to focus on the bOK on full time basis. This would involve engaging in an intensive process to make sure that the company’s service has an edge over competitors. As the first company to venture in the business, it is important to stay ahead of the competition by developing comparative advantage such as excellent customer service. It is also necessary to outsource customer service staff to handle customer queries and concerns as a way of guaranteeing bOK’s customers excellent customer experiences.
It is a superior business activity in the sense that it provides an important solution to customers’ need to communicate with others on a daily basis. Communication is one of the most significant elements of any country’s economy and people are even willing to pay very high premiums for the talk time minutes. This venture adds value to their free incoming call provision from their cell phone provider and it drastically cuts down their communication costs allowing them to save money.
The market that requires telecommunication solutions is large and the CEO requires fully focusing on serving the customer pool as it is a sufficient market. With such a large market, there are sufficient surveys and statistics that would give an indication of sustainability prospects. This information is very important in convincing and attracting stakeholders and investors to the venture. It provides adequate infor...
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