TAILIEUCHUNG - Lecture Entrepreneurship: Chapter 5 - Zacharakis, Bygrave, Corbett
Chapter 5 - Understanding your business model & developing strategy. Marketing is at the heart of an organization because its task is to identify and serve customers’ needs. In essence, marketing spans the boundaries between a company and its customers. It is marketing that delivers a company’s products and services to customers and marketing that takes information about those products and services, as well as about the company itself, to the market. | UNDERSTANDING YOUR BUSINESS MODEL & DEVELOPING STRATEGY Chapter 5 Your first steps are to Select a business model Determine a basic strategy category Differentiation Low cost Niche Zacharakis, Bygrave & Corbett, Entrepreneurship, New York: Wiley, 2017© 2 Create your business model Zacharakis, Bygrave & Corbett, Entrepreneurship, New York: Wiley, 2017© 3 Amazon’s revenue & cost model requires high volume Zacharakis, Bygrave & Corbett, Entrepreneurship, New York: Wiley, 2017© Operating Income $1,129 $1,406 $862 $676 $745 $178 Revenues just exceed costs 2009 2010 2011 2012 2013 2014 Other Revenue Media Electronics & Merchandise Cost of Sales Operating Expenses 4 Be First (or very early) into the Market Quickly Capture a Large % of the Market Create Switching Costs To Succeed as a First Mover, Entrepreneurs Must First movers rarely win and its an expensive strategy to take Zacharakis, Bygrave & Corbett, Entrepreneurship, New York: Wiley, 2017© 5 First Mover’s are Often Surpassed Industry First Mover Current Leader Social Networking Friendster Facebook Video Games Atari Microsoft X Box Web Browser Mosaic Google Chrome Internet Search Engine Excite Google Word Processing Software WordStar Microsoft Word Personal Computer Altair Lenovo Email Juno Google Gmail Diet Soda No-Cal Diet Coke Presentation Software Harvard Graphics Microsoft PowerPoint Online Bookseller Book Stacks Unlimited Amazon ATM Machines Docutel Diebold Zacharakis, Bygrave & Corbett, Entrepreneurship, New York: Wiley, 2017© 6 To win, your strategy must be to be one, or more, of these Zacharakis, Bygrave & Corbett, Entrepreneurship, New York: Wiley, 2017© 7 Your People are your Advantage Founders need to create a culture and align the employees they select with the values and structure of the company Zacharakis, Bygrave & Corbett, Entrepreneurship, New York: Wiley, 2017© 8 Benchmark Devise Initial Market Test Create a Platform Develop your Entry Strategy Zacharakis, Bygrave & Corbett, Entrepreneurship, .
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