Essay 2
Mandy is an engineer who has come up with a new venture of creating an e-book within her company. Building an intrapreneurship requires a careful and deliberate process. It is important that Mandy delivers the new venture with a step-by-step descriptive plan, on how she plans on implementing this project. Before starting this venture, Mandy needs to make sure the product or service falls under her expertise, will the customers have a need for this product? Who are the competitors? and if there are sufficient resources available to produce the product. It is important to answer these questions before moving on because it can determine if the idea is worth the companies time and energy.
Two approaches that can help stimulate Mandy 's …show more content…
It also provides the team with goals and objectives, and the plan to implement them. A concise business plan will also engage professionals who can potentially help financially, or help strengthen customer relationships. The business plan should include an executive summary that highlights key points of the plan, and is used to intrigue readers about why this product is worth their time and effort. A company description is also required in a business plan to display that the company’s capable to implement the project. It should mention the location, structure and strategy for at least the next five years. The product and services portion of her business plan should mention the customers need for the product, the problem the offering will solve as well as the benefits it will deliver. Importantly, this portion should discuss how much customers are likely to pay for them. Its important to name the price, so that it gives a good understanding of how the company will benefit from this venture. Market analysis portion will help Mandy identify the need or demand for the product, the target, and why the product will be useful the customers. Competitors should also be identified, and the competitive advantage. Its also important that Mandy present barriers for e-books as well as preventing new competitors. Proprietary …show more content…
It is important that she maintains personal motivation throughout the process. My having passion for the project, will result in motivation for success. It is also important the the team Mandy forms has the same passion as she does, by recruiting those who are best suited for the job. Entrepreneurship could be risky, so Mandy needs to be careful how she invest, so that its not much of a lost incase it fails. Having the passion, drive, confidence, and ability to work together to create a product will lead to personal success whether the product is a hit or a
Mandy is an engineer who has come up with a new venture of creating an e-book within her company. Building an intrapreneurship requires a careful and deliberate process. It is important that Mandy delivers the new venture with a step-by-step descriptive plan, on how she plans on implementing this project. Before starting this venture, Mandy needs to make sure the product or service falls under her expertise, will the customers have a need for this product? Who are the competitors? and if there are sufficient resources available to produce the product. It is important to answer these questions before moving on because it can determine if the idea is worth the companies time and energy.
Two approaches that can help stimulate Mandy 's …show more content…
It also provides the team with goals and objectives, and the plan to implement them. A concise business plan will also engage professionals who can potentially help financially, or help strengthen customer relationships. The business plan should include an executive summary that highlights key points of the plan, and is used to intrigue readers about why this product is worth their time and effort. A company description is also required in a business plan to display that the company’s capable to implement the project. It should mention the location, structure and strategy for at least the next five years. The product and services portion of her business plan should mention the customers need for the product, the problem the offering will solve as well as the benefits it will deliver. Importantly, this portion should discuss how much customers are likely to pay for them. Its important to name the price, so that it gives a good understanding of how the company will benefit from this venture. Market analysis portion will help Mandy identify the need or demand for the product, the target, and why the product will be useful the customers. Competitors should also be identified, and the competitive advantage. Its also important that Mandy present barriers for e-books as well as preventing new competitors. Proprietary …show more content…
It is important that she maintains personal motivation throughout the process. My having passion for the project, will result in motivation for success. It is also important the the team Mandy forms has the same passion as she does, by recruiting those who are best suited for the job. Entrepreneurship could be risky, so Mandy needs to be careful how she invest, so that its not much of a lost incase it fails. Having the passion, drive, confidence, and ability to work together to create a product will lead to personal success whether the product is a hit or a