23A
Experience: I have a team that has a strong background in telecommunications companies. The person that is going to be in charge of running a started is going to be a person that has 10 years of experience in telecommunications companies. Since I know that I cannot run a telecommunications company by self, I had to contact a family member who has this kind of experience
Valuable: This is valuable having this kind of experience will increase our chances of success
Rare: Knowing someone with this kind of experience in this industry is something that is not easily
found/
Inimitable: Experience is not something that can be imitated
Non-substitutable: Experience by nature is non-substitutable. It is something you can only achieve through the passing of the years.
Leadership: My company will have a head-on in each department that will incentivize employees to be proactive and efficient.
Valuable: This is valuable because it will optimize efficacy withing my company
Rare: This is rare because having leadership skills take a lot of time to gain.
Inimitable: Leadership can only be imitated through practice
Non-substitutable: Leadership can only be achieved through experience. It can be substituted but that will require the time to find a person that has leadership skills.
Social Capital: I know people that can make the start of my communications company to be smooth. I have friends that can help me in the marketing aspect and in the financial aspect. I have many friends that are software engineers and can help my life much easier with their help. I also have a lot of connections that will make my services much easier to sell.
Valuable: Having this social capital will make the launch of my company smoother because it will make everything smoother. Having an expert on each level of the company is a must-have for every company.
Rare: This is rare because social capital is something that is achieved by meeting people. I have enough social capital right that with it I'm going to be able to launch a telecommunications company.
Inimitable: Social capital is something that cannot be copied. It is something you get by meeting people.
Non-substitutable: Social cannot be substituted by anything.
Prices: My telecommunications company will have the lowest prices in the industry.
Valuable: This is valuable because the clients in my target segment only care about prices
Rare: This is rare because telecommunications companies typically charge higher prices. They also try to match their prices. I will be the first one to go below industry prices
Inimitable: This is inimitable until certain point because some companies cannot lower there prices anymore because of there operating expenses
Non-substitutable: Services like having an internet connection can be substituted
Accessibility: Switching to my company will be very easy. No contracts are needed and the only thing that will be needed is to phone call or request the service on our website.
Valuable: This is valuable because in my target segment people like to save time and keep things easy
Rare: This is rare because most telecommunication companies always want you to sign a contract with them.
Inimitable: This is inimitable some companies are willing to avoid contracts if they want to
Non-substitutable: This is substitutable since anyone can choose not to give a contract.
Fast Troubleshooting Response: Clients that suffer technical problems at home will receive help as fast as possible.
Valuable: This is valuable because, besides price, my target segment cares a lot when it comes to customer service.
Rare: This is rare because telecommunications companies typically take days to offer this kind of help.
Inimitable: This can be imitated but telecommunications companies typically don't help their clients immortally
Non-substitutable: This cannot be substituted since only the telecommunications company can offer this kind of help
Location: I will be launching my company in Gainesville. The city has a huge amount of people that are included in my target segment(college students and low-income family households). Gainesville is a city that has less competition for me compared to other cities.
Valuable: This is valuable because I will be getting a lot of customers just because of my location
Rare: This is rare because they are not a lot of telecommunications company in Gainesville compared to other cities.
Inimitable: Choosing a location can be imitated.
Non-substitutable: Moving from place to place cannot be substitutable since each location has something new to offer.
Organizational Cultural: Because of the experience my personnel will have in the industry. My company will have a great culture within the company because they will know how to treat employees and how to motivate them.
Valuable: This is valuable because if my organizational culture is positive, my employes are going to perform their jobs very well.
Rare: This is rare because not all companies have good organizational cultures.
Inimitable: This cannot be imitated since having a certain type of organizational culture depends on who is running the company.
Non-substitutable: This cannot be substituted since organizational culture can only be gained by applying good values to the organization's core.
Hiring Process: My company will have an outstanding hiring process that will determine which persons are fit to be in the company.
Valuable: This is valuable because this will allow us to have productive employees
Rare: This is rare because companies typically don't have a good hiring process. They just have interviews and that is it.
Inimitable: An outstanding hiring process is not easy to replicate
Non-substitutable: A specific procedure like hiring a process cannot be substituted.
Marketing: My marketing experts have at least 5 years of experience. With their help, I will get a huge amount of market share very fast because people will acknowledge what my company has to offer.
Valuable: This is valuable since I will be getting more market share.
Rare: This is rare since sometimes getting good marketing teams is no that easy.
Inimitable: This cannot be imitated since being good at something cannot be copied
Non-substitutable: Experience and skill is something that cannot be substituted that easily.
After doing this assignment, I concluded that my most important skill has to be my experience in the market. Having experts on marketing, managing and engineers that have work experience on telecommunication companies is something pretty unique. Since I'm not fully capable of starting this company from scratch, I will have to rely on the people from the social capital to work for me. This resource is the most important one for me because is the one that will increase my chances of success within this organization.
Valuable: This is valuable having this kind of experience will increase our chances of success
Rare: Knowing someone with this kind of experience in this industry is something that is not easily
found/
Inimitable: Experience is not something that can be imitated
Non-substitutable: Experience by nature is non-substitutable. It is something you can only achieve through the passing of the years.
Leadership: My company will have a head-on in each department that will incentivize employees to be proactive and efficient.
Valuable: This is valuable because it will optimize efficacy withing my company
Rare: This is rare because having leadership skills take a lot of time to gain.
Inimitable: Leadership can only be imitated through practice
Non-substitutable: Leadership can only be achieved through experience. It can be substituted but that will require the time to find a person that has leadership skills.
Social Capital: I know people that can make the start of my communications company to be smooth. I have friends that can help me in the marketing aspect and in the financial aspect. I have many friends that are software engineers and can help my life much easier with their help. I also have a lot of connections that will make my services much easier to sell.
Valuable: Having this social capital will make the launch of my company smoother because it will make everything smoother. Having an expert on each level of the company is a must-have for every company.
Rare: This is rare because social capital is something that is achieved by meeting people. I have enough social capital right that with it I'm going to be able to launch a telecommunications company.
Inimitable: Social capital is something that cannot be copied. It is something you get by meeting people.
Non-substitutable: Social cannot be substituted by anything.
Prices: My telecommunications company will have the lowest prices in the industry.
Valuable: This is valuable because the clients in my target segment only care about prices
Rare: This is rare because telecommunications companies typically charge higher prices. They also try to match their prices. I will be the first one to go below industry prices
Inimitable: This is inimitable until certain point because some companies cannot lower there prices anymore because of there operating expenses
Non-substitutable: Services like having an internet connection can be substituted
Accessibility: Switching to my company will be very easy. No contracts are needed and the only thing that will be needed is to phone call or request the service on our website.
Valuable: This is valuable because in my target segment people like to save time and keep things easy
Rare: This is rare because most telecommunication companies always want you to sign a contract with them.
Inimitable: This is inimitable some companies are willing to avoid contracts if they want to
Non-substitutable: This is substitutable since anyone can choose not to give a contract.
Fast Troubleshooting Response: Clients that suffer technical problems at home will receive help as fast as possible.
Valuable: This is valuable because, besides price, my target segment cares a lot when it comes to customer service.
Rare: This is rare because telecommunications companies typically take days to offer this kind of help.
Inimitable: This can be imitated but telecommunications companies typically don't help their clients immortally
Non-substitutable: This cannot be substituted since only the telecommunications company can offer this kind of help
Location: I will be launching my company in Gainesville. The city has a huge amount of people that are included in my target segment(college students and low-income family households). Gainesville is a city that has less competition for me compared to other cities.
Valuable: This is valuable because I will be getting a lot of customers just because of my location
Rare: This is rare because they are not a lot of telecommunications company in Gainesville compared to other cities.
Inimitable: Choosing a location can be imitated.
Non-substitutable: Moving from place to place cannot be substitutable since each location has something new to offer.
Organizational Cultural: Because of the experience my personnel will have in the industry. My company will have a great culture within the company because they will know how to treat employees and how to motivate them.
Valuable: This is valuable because if my organizational culture is positive, my employes are going to perform their jobs very well.
Rare: This is rare because not all companies have good organizational cultures.
Inimitable: This cannot be imitated since having a certain type of organizational culture depends on who is running the company.
Non-substitutable: This cannot be substituted since organizational culture can only be gained by applying good values to the organization's core.
Hiring Process: My company will have an outstanding hiring process that will determine which persons are fit to be in the company.
Valuable: This is valuable because this will allow us to have productive employees
Rare: This is rare because companies typically don't have a good hiring process. They just have interviews and that is it.
Inimitable: An outstanding hiring process is not easy to replicate
Non-substitutable: A specific procedure like hiring a process cannot be substituted.
Marketing: My marketing experts have at least 5 years of experience. With their help, I will get a huge amount of market share very fast because people will acknowledge what my company has to offer.
Valuable: This is valuable since I will be getting more market share.
Rare: This is rare since sometimes getting good marketing teams is no that easy.
Inimitable: This cannot be imitated since being good at something cannot be copied
Non-substitutable: Experience and skill is something that cannot be substituted that easily.
After doing this assignment, I concluded that my most important skill has to be my experience in the market. Having experts on marketing, managing and engineers that have work experience on telecommunication companies is something pretty unique. Since I'm not fully capable of starting this company from scratch, I will have to rely on the people from the social capital to work for me. This resource is the most important one for me because is the one that will increase my chances of success within this organization.
Hey David,
ReplyDeleteIt seems that your capitals form a good base for your project. It looks like you have enough network for the startup of the company, and that you have people and skills to maintain it. However, I would like to see more detail in the hiring process part as well as the fast troubleshooting since they both go hand to hand. Other than that, looks pretty solid the exercise.
David,
ReplyDeleteA lot of your resources are very strong and it looks like your company will be in good shape to start for sure. I think your location resource is very strong because your two main targets are two of the largest segments in Gainesville. I also think your experience resource is great and your ability to have someone with over 10 years of experience is very promising because in my opinion one of the best thing to have is advice from people who have done the same thing for years before. Overall very good resources and some great tools for your future business!