23A – Your Venture’s Unfair Advantage
1. Social Capital-valuable, rare, not easy to imitate, and non-substitutional.
2. Financial Capital-valuable, rare, not easy to imitate, and non-substitutional.
3. Networking-valuable, not rare, not easy to imitate, and non-substitutional.
4. Socializing-valuable, not rare, not easy to imitate, and is substitutional by technology.
5. Multitasking-valuable, not rare, easy to imitate, and is substitutional by technology.
6. Determination-valuable, not rare, easy to imitate, and non-substitutional.
7. Innovation-valuable, not rare, not easy to imitate, and non-substitutional.
8. Organization- valuable, not rare, easy to imitate, and substitutional with technology.
9. Thoughtful-ness- valuable, not rare, easy to imitate, and non-substitutional.
10. Goal Driven-valuable, not rare, not easy to imitate, and non-substitutional.
After conducting my VRIN analysis the top two resources would be my social capital, financial capital, and networking capabilities. I think when it comes to starting up a business, I personally would place financial capital at the top. If you don’t have money saved up to actually start and fund the business, you can’t actually start and run the business. While the other two top resources are very important, finances are key. You have to have money to make money.
Great post as usual! You were very straight to the point and clear. Your values and capital definitely set you apart from your competition. I also agree that when starting a business a significant amount of financial capital is needed. Great work!
ReplyDeleteHi Kaylee,
ReplyDeleteI think that the list of resources you provided is helpful to understand how your uniqueness will contribute to the success of your idea. You seem very knowledgeable in the industry, and could probably create a great box compared to the rest that offers tons of value to people. You seem very thoughtful and would respond and adapt well to customer needs.
Hi Kaylee,
ReplyDeletegreat work here again. I always look forward to reading and reviewing the work you do in this class. I think you did a really good job on this assingment and were able to identify a really clever list of resources. You thought of interesting and unique ideas that you can take advantage of and create a profit.