My venture's unfair advantage would be primarily our social capital and human capital. That is empowered through numerous mindsets, various ideas and ways that we can innovate the company. Because with any young company we will have troubles and will not see positive cash flows till years down the road when we are financially stable. Our industry is sustainable and has forecasted demand for the future. But we lack financial capital as a young company and brand recognition as a young company. Although we lack these things, we also possess an unprecedented strength of the intellectual capabilities that some our brightest minds bring to the table. The way we structure our company around innovation and experience has truly shaped our organizational culture. Our 10 capabilities include: Social capital, human capital, human empowerment, innovation, extensive experience, youth, education, and health-oriented mindset, emotional intelligence, ability to communicate.
None of our resources can necessarily fit all the VRIN criteria. But our Human capital fits the VRIN criteria. above all else, because our thought process trumps AI(Valuable) our Education (rare), hard to imitate, there are other resources that can provide a similar benefit, but no where close to us.
Cody, I would have liked to see more explanation of each of your capabilities to make sure that I understand them completely. In what way does your venture promote/include human empowerment? (besides generally participating in capitalism, which is the most empowering economic model in existence) Maybe none of the capabilities are perfect, but human capital is a pretty broad idea. I think that you should also remain optimistic about seeing positive cash flow. It all depends on how you run your venture (like the hair stylist he talked about in lectures that could have made a cheaper product, but wanted a 3D printed one instead).
ReplyDeleteCody:
ReplyDeleteI don’t know about you, but I found this exercise to be a little tedious. I was not certain how to best utilize the VRIN to determine our unfair advantage. However, I did not have an issue listing out the ten items in which case I just started going down the list. When I first began reading your blog I thought you had missed the mark about the ten items, but then I found it buried in the body of the paragraph. I would suggest conducting some formatting similar to what you used on your concept.