- Human Capital- My employees will be trained extensively in retail that will greatly benefit the company. VRIN- this isn’t rare in the world of retail but it is valuable
- Capabilities- There is an opportunity in the market. VRIN- this is rare and very valuable.
- Social Capital- I am a college student at the University of Florida so the HQ would be very central to an optimal location. VRIN- this is not imitable, and very valuable.
- Social Capital- I used to play tennis so have a huge network of athletes, one of the products targeted audiences. VRIN- this is not imitable, very rare, and very valuable.
- Capabilities- My team will be very creative and specialized in marketing. VRIN- this is super beneficial for a business.
- Social Capital- I can utilize the many organizations at the University of Florida to enhance and advertise my product. VRIN- this is valuable, rare, and non imitable. Other resources can provide this, but not as cost effective as this.
- Capabilities- There is a lot of vacant space in the area that I can use to run a store. VRIN- this is relatively rare but it’s something that should be capitalized on.
- Human Capital- I have great time management. VRIN- this is rare and very valuable, as I would be running a company as a college student.
- Financial Capital- my product is inexpensive to create, as a joint partnership would solve the manufacturing issue. VRIN- this is non-substitutable, as there is no other product in the market like mine.
- Human Capital- I am very self motivated and innovative. VRIN- this is valuable because it takes a lot of determination to run a company.
My top resource is my network. I am a college student who has a wide range of connections with students and student athletes, and think this is my biggest asset.
Hey Taylor,
ReplyDeleteYour resources will definitely be beneficial when you start your business, especially your human and social capital. Because your product is based around people who live in humid environments, being based in a college town where it's almost always hot is perfect. Also, putting together a team that will be both innovative and trained extensively will be essential to starting a successful business.
Taylor,
ReplyDeleteKnowing a broad swath of people, especially in a warm state like Florida, will definitely prove to be one of your most valuable resources for your product. In addition, the cheapness of the product will help you start up the business faster. The simplicity of your product makes it easier to start and also attract investors. Great job!
-Robert