BUSI603 CaseStudy3

BUSI603 CaseStudy3 - Case Study Three 1 Running head CASE STUDY THREE Case Study Three Jeremy Dudley Liberty University Case Study Three 2 Case

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Case Study Three 1 Running head: CASE STUDY THREE Case Study Three Jeremy Dudley Liberty University
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Case Study Three 2 Case Study Three Biolife’s product, Quick Relief (QR), is representative of a Type B startup idea because the product involves relatively new technology. Type B is illustrated by Biolife’s startup based on its Quick Relief product because the powder that stops bleeding within a few seconds is “unlike anything else out there” (Longenecker, Moore, Petty, & Palich, 2008, p.624). Quick Relief is not a Type C startup idea because it is not an improvement on a product because a bandage does not use a formulated powder to stop bleeding. The idea for Biolife’s Quick Relief powder came from an accidental discovery when Jim Patterson, long-time research scientist, pricked his finger and put an experimental combination of resin and salt on the wound (Longenecker, Moore, Petty, & Palich, 2008). This event led to the understanding that the components Patterson used were indeed effective in stopping bleeding. One could argue that the idea originated because of a deliberate search as Patterson and his colleague, John Alf Thompson, were already experimenting with the combination of resin and salt, though not necessarily for Quick Relief’s intended purpose. The research scientists’ original goal was to determine a new, more effective way of purifying water (Longenecker, Moore, Petty, & Palich, 2008). The scientists stumbled upon a completely different field when they came across the use for their new product. It is for this reason that one would conclude that an
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This note was uploaded on 03/11/2010 for the course BUSI 603 taught by Professor Dr.ellis during the Spring '10 term at Liberty.

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BUSI603 CaseStudy3 - Case Study Three 1 Running head CASE STUDY THREE Case Study Three Jeremy Dudley Liberty University Case Study Three 2 Case

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