CASE 1
TURNER TEST PREP CO.
What's Jessica's initial thought?
Jessica had the notion to launch a company that offered assistance to candidates for the Certified
Public Accountant exam. She was confident that she possessed the accounting, teaching, and
exam-passing abilities required by others. Jessica aimed to develop a one-stop shop where students
could learn, study, get one-on-one help, and pass the CTA the first time.
How does Turner Prep beat out NTC for supremacy?
The rival company to Turner Prep, NTC, only provides online and material-based instruction, with
phone numbers and internet resources available for support anytime students need it. Additionally,
NTC's first-time exam takers only succeed 25% of the time on average, which means they must
return, review again, and repeat the test the following time it is offered (just twice a year). Instead
of just giving the students a tonne of material and expecting them to manage it and learn it all on
their own until they absolutely needed to call in or go online for help like with NTC's programme,
Jessica's plan for Turner Prep to succeed beyond NTC was to give students in-class lectures,
thorough schedules, and quizzes along the way.
How can Jessica increase her share of the market?
Jessica became aware of several weaknesses in her preparation, despite the fact that her plan may
be deemed effective. She believed that keeping pupils on track with a very organised programme
would be beneficial, but she soon noticed that they weren't always attending the in-class lectures,
which prompted her to consider other online possibilities or look for more work-from-home
opportunities. Jessica discovered that the pupils frequently stayed at home to listen to the audio
tapes. Although I appreciate that she is unsure of the exact accuracy of her success rate, she ought
to publicise some useful information so that people are aware that her strategy is effective.
What is Jessica’s break even point?
Jessica’s Fixed costs for a year are: $139,200
Her Variable is the $600 materials per student
The cost of service per student is $1,100
$139,200 / ($1,100-$600) = 278.4 students per year in order to break even.
CASE 2
JIM BOOTHE, INVENTOR
A person who organizes and prepares a new business venture with the goal of turning a profit is
known as an entrepreneur. In order to gather and allocate resources—financial, technological, and
creative—for the success of his endeavors, Jim qualifies as an entrepreneur.
What kinds of risks would Jim take on if he decided to turn this idea into a commercial
endeavor?
Financial Risk
The most obvious one is financial risk, which can have an impact on both the $100,000 he plans
to borrow and the money he would have made in his current employment as an engineer. They
might result from Jim's use of financial systems, transactions, and financial structure.
Compliance Risk
It refers to the risks associated with Jim's business operations and the laws and regulations that
apply to the sector he plans to enter. He is required to abide by all established rules, including
those pertaining to taxes, health and safety, and fair trade.
Risks that could result from strategic choices taken and have an impact on Jim's company's
capacity to fulfil the objectives he has outlined in his business plan are referred to as strategic risks.
Operational Risk
These dangers result from Jim's company's operational practices. They could be incomplete record
keeping, outdated or broken IT systems, or problems with his supply chain. If these risks are not
adequately managed, Jim's clients may lose trust in him or he may lose all of his data.
Jim's market investigation
Jim based his decisions on polls of his friends who ride 15-speed bikes. How trustworthy are
these data? Why?
Jim's poll of his pals with 15-speed bikes is not trustworthy enough. The sample size in his study
appears little when compared to the sizable population of Americans. The ratio appears inadequate
and can provide him with inaccurate or misleading information. In order to draw a realistic and
more trustworthy conclusion about the anticipated demand for his bikes, Jim needs a larger sample
size for his research.
Who would be Jim's invention's target market? Which customer demographic would be the
best fit for this product's target market?
Jim's target audience may range from competitive riders to recreational cyclists. His type of bicycle
clubs can serve as the perfect market for his goods. The novelty and convenience of the new idea
would appeal to young people who already enjoy cycling or who are just starting to do so.
Where can he get data about this market? What would be some options/ ideas?
He can get data about this market from manufacturers and vendors of bicycles in the country. They
can offer insightful statistics and information about the market. From here, he can know expected
market growth rate, changes, and preferences in the market consumers, and standards he should
maintain.
CASE 3
A MONROE LOCK AND SECURITY SYSTEMS
Summaries Answer:
Ray Monroe appears to have a free enterprise, "get by" state of mind toward his business. He hopes
to just open his business and have clients come to him. His legacy will deal with any money related
requirements he may have, so he is by all accounts roused by the craving to end up established and
to have something to do, instead of driven by monetary achievement.
Monroe is not forceful which is prove by his refusal to offer alarm system installments and his
unwillingness to answer calls after 5 p.m. Given the way that most calls to a locksmith are for
crises, Monroe is likely losing a lot of potential business. At the point when clients call and nobody
answers, malevolence, as opposed to cooperative attitude, is made. There likewise is no follow-up
with clients to guarantee fulfillment or request extra deals.
The business is divided with numerous little firms taking care of private business and a couple of
bigger firms offering to business accounts. Rivalry is serious. A large portion of the little firms are
privately-owned companies that have set up connections in the group. It will be difficult to go up
against these organizations due to their long-standing picture and notoriety. Administration and
the readiness to go the additional mile are basic to achievement. Low obstructions to section make
it simple for another locksmith to enter the business sector. Just a little measure of capital venture
is expected to begin a business, insignificant preparing is required, and the business can regularly
be keep running from home.
The initial phase in building up a promoting methodology, in the wake of directing a natural
examination, is to set up quantifiable and measurable objectives and targets. The essential
objective for AMLSS is to end up more beneficial as a continuous business. AMLSS requirements
to grow its offerings to incorporate all administrations as of now gave by contending locksmiths,
especially 24-hour and fast reaction administration. This will engage the greater part of the
business sector portions. Likewise, the organization ought to extend a 30-day certification to
strengthen its picture as a superb administration supplier. Monroe ought to follow-up all
administration employments with an individual phone call to guarantee fulfillment of the customer
and test as to any extra work that the customer may require.
CASE 4
BEIJING SAMMIES
The Skills and Attributes of Sam Goodman Skills?
Individualism
Doing business without meeting in person
Transaction based
Low context culture
Charity Sponsorship
E.g. Special Olympics, Canadian Day and U.S. Independence Day
• Serviced-Oriented
• Responsive
keep adapting business to the changes.
- learning different culture, improving service.
The Central kitchen, “Ordering Tips”, Sammie’s Rewards
- Creating pre made selections of sandwiches for local customers, Central kitchen for quality
control.
Critical factors for success skills that he needs?
Communication skill- Improve communication between him and employees with clear goal and
objectives.
Diversity sensitivity skill- Learning cultural belief of China
Motivating Skill- Encourage employees to be enthusiastic with service.
• Product quality
• Fresh and good quality
• Servicing
• Service orient
• Pricing - promotion
• Bonus point reward
• Financing
• Brand image
• Adaptation (foreign investor)
• Local culture
What should Goodman do to build the business moving forward? How should he approach
future fundraising efforts?
• Business earnings historic track record.
• Industry and business growth prospects.
• Acquisition financing terms.
• Competitive pressures.
• Business position in the market place.
• Risks associated with market and customer concentration.
• Location and facilities.
• Quality of management and staff.
• Overall business desirability.
What are Beijing Sammies' main success factors? What are its advantages and
disadvantages?
Serving business clients and presenting Western cuisine to Chinese consumers are two important
success reasons for Beijing Sammies. Giving immigrants in China access to familiar foods is
crucial. Beijing Sammies receives business clients higher profit because this ensures steady orders
and profit. The network Goodman has built is what gives the eateries their strength.
However, there are a number of drawbacks that keep the business from making more money. The
central kitchen is a terrific idea in the first place since the chief can watch the entire operation.
However, the clients in the other areas cannot be served by one cook. the various areas of the city
that seek to have simply prepared meals. Additionally crucial for the restaurant industry are online
orders and flexible payment options.
Do you believe Goodman is unrealistic in his expectations of bringing quality Western service
to China?
Goodman is realistic in his expectations because China is a multicultural nation, and even though
many people may baulk at dining in a Western restaurant, many others will eventually become
regulars.
Additionally, Goodman may organise the job much better when serving corporate delivery orders,
and this area of the restaurant industry may be very helpful if to ensure that food is served on time
and with the finest quality. Additionally, since the restaurant's work is distributed across the city
rather than its main kitchen, it is possible to arrange for fresh and even warm food to be delivered
to corporate orders, potentially improving the quality of the service.
What should Goodman do to build the business moving forward? How should he approach
future fundraising efforts?
Goodman's company has a lot of potential for growth. Goodman can widen his reach after opening
a number of eateries by starting a particular advertising campaign. Serving various events could
be another market Goodman can consider. Delivering lunch to business clients is a useful service
every day. However, there are numerous occasions where quick and good meals is required.
Goodman could be able to enhance his income by working these events.
CASE 5
INTELLIGENT LEISURE SOLUTIONS
Summarize Answer:
Intelligent Leisure Solutions (ILS), a group of five companies based in Brazil. The founder and
CEO of ILS, Robert Phillips, is seeking an appropriate growth strategy for the expansion and
sustainability of the business. The text also highlights the geographic background of Brazil, its
growing economy, increasing middle class, and the booming tourism industry.
ILS is comprised of five companies, each with its own market niche:
Intelligent Leisure Solutions Consulting (ILSC): A leisure, real estate, travel, tourism, and
entertainment development consulting company. It offers all-in-one solutions, including tourism
consulting, web marketing, real estate brokerage, and travel consulting. ILSC's clients include
government entities, banks, investment funds, and independent project owners.
Intelligent Real Estate Solutions (IRES): This company provides complete real estate brokerage
solutions in Brazil, catering to international investors, banks, and funds investing in real estate
projects in the country. IRES also offers services in multiple languages.
Intelligent Web Solutions (IWS): Specializing in internet marketing and business plan consulting
and development, IWS helps companies establish an online presence. They focus on search engine
optimization and search engine marketing, providing content creation solutions and project
management.
Intelligent Content Solutions (ICS): ICS offers full-service web content creation and translation
services. It assists individuals and companies with web copywriting and translations into multiple
languages.
Intelligent Travel Solutions (ITS): ITS offers personalized luxury travel solutions in Central and
South America. It caters to individual travelers, travel agencies, institutions, and companies from
various sectors. ITS employees are multicultural and multilingual consultants who use in-house
web marketing techniques.
The case analysis should evaluate the current situation and alternatives for ILS, considering both
internal and external factors. The analysis should identify the best alternatives available to the
entrepreneur based on the case data, logical reasoning, and creative thinking. Finally, a
recommended course of action should be defined, along with an explanation of how the
suggestions can be implemented.
CASE 6
THE BEACH CARRIER
What is the nature of the product? What are its strengths and weaknesses?
A bag big enough to hold everything one needs for a day at the beach is called the Beach Carrier.
Even though it can hold a beach chair, it can be folded down to a handy 12x12 square inch when
not in use. The fact that the product is more reasonably priced than those of the competition and
that the bag's material is thought to be sturdy are its strong points. The beach carrier's perceived
quality is diminished by the fluorescent colours, and the bag is much larger than necessary,
which are the product's flaws.
What are the limitations to the assumptions Ricci has made in determining the market
potential? What risks do these present?
A risk for the product is presented by a few assumptions that Ricci made in estimating the market
potential. "Users of suntan and sunscreen products represent the market for The Beach Carrier,"
reads the first market share aim. Although there may be a sizable market for the product, the
majority of sunscreen users only apply it in the summer or during other warm months. Because
the target market is seasonal, this restricts the product's sales. Ricci's perception of the target
market as only women because "men do not buy bags" is another barrier. As a result, the possible
target market is reduced by over 50%. The sales of the products could be at danger due to these
restrictions.
Advantages:
• Mary Ricci can immediately start production of the Beach Carrier
• She can maintain control and ownership of the product.
• The Beach Carrier will be distributed nationally.
Disadvantages:
• The ownership will be transferred to the manufacturer and she will no longer maintain
control over the product.
• Monthly payable plus interest will make it more costly.
• The bank might not release the money.
Recommendation:
The reporters recommend the second alternative course of action.
Areas of Consideration:
Statement of the Problem:
Strength:
Mary Ricci is creative, optimistic, enthusiastic, flexible, and motivated.
The product is affordable than the competitors' product. ($12.99 - $14.99)
Opportunities:
Weakness:
Mary Ricci lacks capital to produce her product and she's not willing to license or sell the pattern
to a manufacturer
The product has a potential of having a big market share
Due to the main competitors' weaknesses, The Beach Carrier comes up as a better product.
The product's fluorescent color lessens the perceived quality of the bag and the size is much larger
than necessary.
Threat:
The target market purchase and replace beach bags every three years.
Objective:
To be able to commercialize her beach carrier to the market.
PRODUCT CHALLENGES:
Challenges that are evident when studying this case include:
Mary Ricci does not have the resources required to invest in the product
Ricci is unwilling to sell the product pattern to a manufacturer
• Ricci based her sole research on individuals that use sunscreen. Sunscreen is not only used
by people who go to the beach and therefore there would be many individuals that despite
them buying sunscreen, would not invest in the beach carrier. Because of this, the results
could possibly be flawed.
• Individuals replace their beach bag every three years therefore an average of only one third
of individuals in the market will buy a bag each year. • The financing figures Ricci has
outlined may not be enough to fund the initial rollout.
• Promotion strategy may be less effective in today's time as we live in a modemized world
where everything is becoming more technologized and on screen. Promoting the product
through the mail does not take into account those who do not check their mail on a regular
basis/discards flyers or catalogues as such.
• Taking all the research into consideration, it is possible that Ricci has overestimated the
overall target market for the product. Including gender and age.
• Mary Ricci plans to store inventory in her garage. This puts a limitation on the amount that
her manufacturing company can produce at once as if too much, there will be no room for
storage.
