Porter’s Generic Strategies, SWOT, BCG Matrix, Five Forces
Scenario: You’ve spent a couple of years thinking about a new business concept talking with friends and family about your ideas. and scoping out your competition. You finally believe that the time is right to move from exploring it (OK, it’s been a lot of daydreaming!) to actually doing something about it. You form a small group of business partners to get started on bringing your vision to life. Your business concept is to create an athletic event for people who get an adrenalin rush from high intensity/high risk games and sports.
1) What are the key market and external business environment dynamics you need to consider?
2) What internal business elements need to be considered, and what would be your highest priorities for addressing at this stage in developing your business concept?
3) How would you go about assessing the feasibility of your concept and making the decision on your business strategy?