(2) Let's Make a Firm

(2) Let's Make a Firm - Session 2 Lets Make a Firm Business...

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1 Session 2 Let’s Make a Firm Business Policy (MGBU 4441) Prof. Benjamin Cole Let’s Make a Firm Where? What? Why? Mission Drs. w/o Borders: Provide medical humanitarian aid Grameen Bank/ACCION: “To empower people…” GENERIC PUBLIC FIRM: “ To max s/h value…” GOOGLE: “Organize world’s info (and “Do no evil.”) Tactics Make Something (Manufacturing Firm) Make Nothing (Service Firm) How to decide what to do ? Demand-side characteristics What will cause people to open their wallets? (Willingness-to-Pay “WTP”) For-profits: Consumers of good/service open their wallets Non-profits: Consumers of good/service do not open their own wallets. Other people do (e.g., governments, foundations, individual donors). Mission is so important for opening wallets! Supply-side characteristics What tangible assets can we access? (e.g., money, buildings, materials) What intangible assets? (e.g., skills, experiences) Cannot answer this question without answering other questions first! The order of the questions matters!
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2 Let’s Make a Firm. .. Universe throws a Problem (P1) at our feet What do we do? Define the problem Identify the Potential Causes of Problem (i.e., C1, C2, C3) Identify Potential Solutions to Resolve those Causes (i.e., S1, S2, S3) Consider Constraints (Resources, Time, etc.) Consider Inducements and Incentives
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(2) Let's Make a Firm - Session 2 Lets Make a Firm Business...

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