Assignment:
"Redhook ale brewery case " from Barringer and Ireland, Entrepreneurship 5th Edition
Selected Cases in Entrepreneurship-McGraw Hill
Please complete 1-9
If the step occurred, describe it and assess its strengths and weaknesses. If the step did not occur, make note of that and then describe what the firm should have done.
1. Describe the process of recognizing the business opportunity.
- Four essential qualities of an opportunity (attractive, timely, durable, anchored)
- Observing trends, solving a problem, gap in the marketplace.
2. Assess the feasibility analysis.
- Product/service desirability and demand
- Industry/market attractiveness
- Organizational: management prowess and resource sufficiency
- Financial: start up cash needed, financial performance of similar businesses, overall financial attractiveness of the proposed venture.
3. Describe and assess the business model.
- Value chain analysis
- Core strategy
- Strategic resources
- Partnerships
- Customer interfaces
4. Assess the industry and competitor analysis.
- Industry trends
- Porter five forces
- Industry type
- Competitor analysis: direct, indirect, and future
- Competitor analysis grid
5. Describe and assess the initial business plan.
- Summary business plan
- Full business plan
- Operational business plan
- Red flags in business plan?
6. Assess the preparation for the proper ethical and legal foundation.
- Code of conduct
- Ethics training program
- Founder agreement
- Business Licenses
- Organization legal structure
7. Assess the financial strength and viability of the new venture.
- Profitability
- Liquidity
- Efficiency
- Stability
8. Assess the assembly of the management team.
- Founding team qualifications (homogeneous/heterogeneous)
- Board of directors
- Advisory board
9. Describe and assess the new venture funding.
- Funding sources
- Debt/equity funding
- Strategic partners