IOE 422 W2010 Class 8 020910

IOE 422 W2010 Class 8 020910 - Class #8 Competitive...

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Winter 2010 Kurt Skifstad (skifstad@umich.edu) IOE 422 Entrepreneurship Class #8 Competitive Analysis, Types of Businesses, Kurt Skifstad skifstad@umich.edu 1Class 8– 1
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Winter 2010 Kurt Skifstad (skifstad@umich.edu) IOE 422 Entrepreneurship Groups Start with the same groups you were with on Thursday: Organic Cosmetics Wind Turbine 360 deg. Amphibious Assault Vehicle Trampoline Bed Solar Panel Personal Watercraft Power Rickshaw If you weren’t here on Thursday, see me 2Class 8– 2
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Winter 2010 Kurt Skifstad (skifstad@umich.edu) IOE 422 Entrepreneurship Arts ‘n Crafts Day Recap 3Class 8 – 3
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Winter 2010 Kurt Skifstad (skifstad@umich.edu) IOE 422 Entrepreneurship Competitive Analysis (20 minutes) Who is the competition? How big are they? What markets are they in? (how do these compare to your market?) What is their value proposition (in your space)? What are the differentiates your solution from the competition? Why are these differentiators important to your customer? 4Class 8– 4
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Winter 2010 Kurt Skifstad (skifstad@umich.edu) IOE 422 Entrepreneurship Types of New Ventures Small business Niche business High-growth business Radical Innovation business Nonprofit organization Corporate new venture 5Class 8– 5
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Winter 2010 Kurt Skifstad (skifstad@umich.edu) IOE 422 Entrepreneurship Nonprofit Venture Corporation, member association, or charitable organization Provides a service Can’t distribute dividends or payments to its employees, donors, members, or volunteers Does not earn a profit (duh) Can generate a financial surplus (must be used for the mission of the organization) 6Class 8– 6
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Winter 2010 Kurt Skifstad (skifstad@umich.edu) IOE 422 Entrepreneurship Nonprofits - Examples charitable venture – 501(c)(3) Consumer cooperative (eg. REI) Public sector – (eg. Port Authority of NY and NJ) Often a challenge to figure out exactly who the customer is 7Class 8– 7
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Winter 2010 Kurt Skifstad (skifstad@umich.edu)
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IOE 422 W2010 Class 8 020910 - Class #8 Competitive...

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