1. Surprise: One thing that surprised me was how Corning was focusing on basic research, an aspect that many companies had given up on because of the lack of substance it most often produced.
2. Confusing: I was sort of confused about the Innovation Landscape Map in the article. Is this map specified towards a certain type or types of industries? Where would something that is related to the food industry go on there? It seems to favor the more technological businesses.
3. Questions: One question I have would be, how does an existing company that is struggling in its innovative output better organize itself to create innovative products or services? Second, I know you said that R&D and basic research are key parts of any company when it comes to innovation, but how would you distribute the responsibilities of conducting innovative research/thinking throughout your business? Which departments would be responsible for what? or would it all just be up to the R&D team.
4. Wrong: I didn't necessarily find anything that I thought was wrong, but I did find something that kind of bugged me a bit. When you were discussing the Innovation Landscape Map, you only brought up two factors that were to be considered, the degree in the change in technology and the the degree to which it involves a change in the business model. I feel that there are far more factors to consider when innovating.
Showing posts with label Week 11. Show all posts
Showing posts with label Week 11. Show all posts
Sunday, March 27, 2016
The Amazon Whisperer
Service: Comfort Food Inc.
Current Revenue Drivers:
1. Food (made with locally grown ingredients)
2. Drinks (i.e. iced tea, lemonade) 100% natural
Prospective Revenue Drivers:
I have several ideas that I would like to add down the line
1. Incorporating a little market area where local farmers can sell their products
2. Adding the sale of health and fitness diet items (i.e. protein powders/bars, all natural snacks, etc.)
3. Healthy dessert options, smoothies and shakes
Enhancing my Service:
Giving customers a place where they can eat healthy food is good, but also providing a place where they can buy the ingredients to make their own healthy food is an opportunity that I believe many people will appreciate. There are no other restaurants (at least that I know of) that do anything even remotely like this for their customers.
Once the business grows enough, I can begin incorporating the sale of protein powder mixes and protein bars, including our own brand of all natural options. Also, we can sell all natural snacks, such as trail mix, assorted nuts, etc.
I know that healthy dessert options sounds like a fairy tale, but they do exist. For example, it is possible to make a chocolate ice cream substitute, which has no chocolate, but instead is made with crushed ice, avocado, vanilla extract, and some other healthy ingredients. I know that that sounds crazy, but it actually does taste like chocolate ice cream, minus everything that makes ice cream bad for you. Also, we could make smoothies and shakes that can serve as meal replacements, for those people who are looking to do a cleanse. Don't worry, we got you.
My Amazon Search:
I scoured through quite a few all-natural protein powders on amazon, and for the most part, everyone is pretty satisfied. Most of the less enthusiastic reviews were regarding the taste, but unfortunately that is what you get when you purchase something that's not made with artificial sweeteners. Other negative reviews were accusing some of these products of having heavy metals in them. This caught my attention, until I realized that if it is all natural then yes there are going to be a few metals in there because plants naturally have some of these metals in them, just as tuna has a high amount of mercury in it. So in the end, I didn't find anything to improve upon, at least not yet anyways. There is always something that can be improved, I just need to find it.
Why this would be beneficial to add to my company:
If you have been to the gym (especially here at UF), then you have probably seen the guys and girls in there who are looking to bulk up or tone out. The consumption of protein (whey, soy, etc.) greatly helps with this process. Therefore, selling this product in my restaurant will appeal to a huge market here in Gainesville.
Current Revenue Drivers:
1. Food (made with locally grown ingredients)
2. Drinks (i.e. iced tea, lemonade) 100% natural
Prospective Revenue Drivers:
I have several ideas that I would like to add down the line
1. Incorporating a little market area where local farmers can sell their products
2. Adding the sale of health and fitness diet items (i.e. protein powders/bars, all natural snacks, etc.)
3. Healthy dessert options, smoothies and shakes
Enhancing my Service:
Giving customers a place where they can eat healthy food is good, but also providing a place where they can buy the ingredients to make their own healthy food is an opportunity that I believe many people will appreciate. There are no other restaurants (at least that I know of) that do anything even remotely like this for their customers.
Once the business grows enough, I can begin incorporating the sale of protein powder mixes and protein bars, including our own brand of all natural options. Also, we can sell all natural snacks, such as trail mix, assorted nuts, etc.
I know that healthy dessert options sounds like a fairy tale, but they do exist. For example, it is possible to make a chocolate ice cream substitute, which has no chocolate, but instead is made with crushed ice, avocado, vanilla extract, and some other healthy ingredients. I know that that sounds crazy, but it actually does taste like chocolate ice cream, minus everything that makes ice cream bad for you. Also, we could make smoothies and shakes that can serve as meal replacements, for those people who are looking to do a cleanse. Don't worry, we got you.
My Amazon Search:
I scoured through quite a few all-natural protein powders on amazon, and for the most part, everyone is pretty satisfied. Most of the less enthusiastic reviews were regarding the taste, but unfortunately that is what you get when you purchase something that's not made with artificial sweeteners. Other negative reviews were accusing some of these products of having heavy metals in them. This caught my attention, until I realized that if it is all natural then yes there are going to be a few metals in there because plants naturally have some of these metals in them, just as tuna has a high amount of mercury in it. So in the end, I didn't find anything to improve upon, at least not yet anyways. There is always something that can be improved, I just need to find it.
Why this would be beneficial to add to my company:
If you have been to the gym (especially here at UF), then you have probably seen the guys and girls in there who are looking to bulk up or tone out. The consumption of protein (whey, soy, etc.) greatly helps with this process. Therefore, selling this product in my restaurant will appeal to a huge market here in Gainesville.
Wednesday, March 23, 2016
My Unfair Advantage
My unfair advantage in my venture: Comfort Food Inc.
Human Capital:
1. Determination
2. Ability to develop connections with people (very useful for finding experts in my field)
3. Knowledge of a healthy diet/lifestyle (to incorporate into our menu items)
Social Capital:
1. My mother (I know, don't judge. I'll explain)
Financial Capital:
1. I've got nothing
Capabilities:
1. Expand to several restaurant locations around Florida, and even possibly going out of state
2. Adding in the sale of other healthy products (ie. protein mix/bars, all natural snacks, smoothies and shakes, teas and coffee, etc.)
3. Using 100% locally grown produce, meat, and dairy in our food
4. Involvement in community
VRIN responses...
Human Capital: I have a strong determination to make this business idea a reality. Sure determination is something that others can have, but not everyone has the drive to push through when times get tough. I am also becoming better in developing connections with other professionals--somewhat because of this class-- which is invaluable when it comes to starting up a business. This skill isn't rare, many people can learn to do this, but there is no substitute for connecting with other experts. My knowledge of a healthy lifestyle and diet is still growing. I'm learning new things about this topic all the time, but this skill is something that anyone can pick up just by doing some research. This skill is valuable and non-substitutable in a business like this, but with the change in views of diet and living, more and more people understand healthy living already.
Social Capital: If there is one person on this planet that understands healthy living, it is my mother. This woman is like the health guru, she has an infinitely bigger knowledge of a well-balanced diet than I do, and she is constantly teaching herself ways to improve it. She is a massage therapist, so she is really into keeping the body "happy". Right now, she is all I've got as far as expertise goes, but she is more than enough to help get me started. She is valuable, and her level of understanding of this topic is pretty dang rare. But as far as substitution goes, there is always someone out there that knows more than you, and in order to grow and become a renowned business, I am going to have to find that person (if that person even exists...)
Financial Capital: Like I said, I've got nothing. I'm going to have to rely on other sources such as crowdfunding/B2B funding, such as Kickstarter. Also, I see a surmountable amounts of loans in my future. I don't even know how to do a VRIN for something I don't even have yet.
Capabilities: Okay, this is where the separation from other companies really comes into play. For one thing, if we can become a place that serves food that is strictly made with 100% locally grown ingredients, then that alone sets us apart from any other eating establishment out there. Once we grow in popularity, we can expand to other places in Florida (most likely other college towns like Orlando, Tampa, and Tallahassee). We can even begin our own product line of all natural snacks/food, protein mix, shakes and smoothies, teas and coffee, etc. With that Comfort Food Inc. can begin to spread to other, farther locations that we may not be fully established in yet. Finally, I want this business to be heavily involved in the community. We are already stimulating the local economy by buying from local farms, thus making the community more self-efficient, so why not go further, right? Comfort Food Inc. will do its best to support local non-profits, such as UF Hopping 4 A Cure (check them out on Facebook), as well as host community events. One idea for an event would be to host a farmers' market in one of our stores or something along those lines.
Top Resource: My top resource would have to be our promise of being 100% locally grown. This is one aspect of the company that is extremely difficult to copy because it takes a ton of commitment to stick to a goal such as this. This is what will set us apart from other restaurants, and this will be the company's primary marketing angle.
Human Capital:
1. Determination
2. Ability to develop connections with people (very useful for finding experts in my field)
3. Knowledge of a healthy diet/lifestyle (to incorporate into our menu items)
Social Capital:
1. My mother (I know, don't judge. I'll explain)
Financial Capital:
1. I've got nothing
Capabilities:
1. Expand to several restaurant locations around Florida, and even possibly going out of state
2. Adding in the sale of other healthy products (ie. protein mix/bars, all natural snacks, smoothies and shakes, teas and coffee, etc.)
3. Using 100% locally grown produce, meat, and dairy in our food
4. Involvement in community
VRIN responses...
Human Capital: I have a strong determination to make this business idea a reality. Sure determination is something that others can have, but not everyone has the drive to push through when times get tough. I am also becoming better in developing connections with other professionals--somewhat because of this class-- which is invaluable when it comes to starting up a business. This skill isn't rare, many people can learn to do this, but there is no substitute for connecting with other experts. My knowledge of a healthy lifestyle and diet is still growing. I'm learning new things about this topic all the time, but this skill is something that anyone can pick up just by doing some research. This skill is valuable and non-substitutable in a business like this, but with the change in views of diet and living, more and more people understand healthy living already.
Social Capital: If there is one person on this planet that understands healthy living, it is my mother. This woman is like the health guru, she has an infinitely bigger knowledge of a well-balanced diet than I do, and she is constantly teaching herself ways to improve it. She is a massage therapist, so she is really into keeping the body "happy". Right now, she is all I've got as far as expertise goes, but she is more than enough to help get me started. She is valuable, and her level of understanding of this topic is pretty dang rare. But as far as substitution goes, there is always someone out there that knows more than you, and in order to grow and become a renowned business, I am going to have to find that person (if that person even exists...)
Financial Capital: Like I said, I've got nothing. I'm going to have to rely on other sources such as crowdfunding/B2B funding, such as Kickstarter. Also, I see a surmountable amounts of loans in my future. I don't even know how to do a VRIN for something I don't even have yet.
Capabilities: Okay, this is where the separation from other companies really comes into play. For one thing, if we can become a place that serves food that is strictly made with 100% locally grown ingredients, then that alone sets us apart from any other eating establishment out there. Once we grow in popularity, we can expand to other places in Florida (most likely other college towns like Orlando, Tampa, and Tallahassee). We can even begin our own product line of all natural snacks/food, protein mix, shakes and smoothies, teas and coffee, etc. With that Comfort Food Inc. can begin to spread to other, farther locations that we may not be fully established in yet. Finally, I want this business to be heavily involved in the community. We are already stimulating the local economy by buying from local farms, thus making the community more self-efficient, so why not go further, right? Comfort Food Inc. will do its best to support local non-profits, such as UF Hopping 4 A Cure (check them out on Facebook), as well as host community events. One idea for an event would be to host a farmers' market in one of our stores or something along those lines.
Top Resource: My top resource would have to be our promise of being 100% locally grown. This is one aspect of the company that is extremely difficult to copy because it takes a ton of commitment to stick to a goal such as this. This is what will set us apart from other restaurants, and this will be the company's primary marketing angle.
Subscribe to:
Posts (Atom)