Hoorcollege 1
Importance of entrepreneurs
- Starters of businesses
- Play an essential role in strategic firm decisions
- Important at firm start but also throughout a firm’s lifecycle
Entrepreneurship
- adds to economic growth of regions and countries
- creates employment – SME’s are numerically dominant and smaller firms contribute more to job
creation than larger firms
- could create societal and/or environmental change/value
Starting point
Inspiration -> Ideation -> Implementation
Design Thinking Process
Empathize -> Define -> Ideate -> Prototype -> Test -> Assess
Traditional view
Problem -> Solution -> Benefit
Alertness: the ability to identify opportunities without searching
- One ‘stumbles upon’ an idea
The Delta Model for law professionals
- The people
- Understanding and relating to clients, colleagues and ourselves
- The process
- Delivering legal services efficiently and effectively
- The practice
- Knowing, researching and clearly communicating the law
Sources of new ideas
- Consumers
- (In)formally monitor potential ideas and needs among consumers
- Let consumers express their opinions (what do they want/need?)
- Existing products and services
- Formally monitor and evaluate competitive products and services on the market
- Uncovering ways to improve current products
- Entrepreneurship is a response to opportunities created but not exploited by the incumbent
firms
- Files from the Patent Office in response to government regulations, research and development
PESTELE analysis
- Political changes
- Economic changes
- Social/societal changes
- Technological changes
- Environmental changes
,- Legal
- Ethical
Defining elements of entrepreneurial opportunities
- Novelty
- Value
- Unmet needs
, Werkgroep 1 - GEOX CASE
Inventor Innovator
- Comes up with new ideas - Comercializes ideas
- Likes inventing: idea is an end in itself - At some point needs to turn focus to
assessing desirability and feasibility
Which aspects of creativity and problem solving do you recognize in the case?
- Innovation and creativity hangen samen
- Problem solving: state the problem -> show the solution -> show the benefit
GEOX's key competitors
GEOX entered a saturated market:
- Footwear industry is a giant in the consumer world
- Typically focused on either customer group target (men/women/children) OR product type
(casual/formal/sport)
- Casual footwear market was fastest growing product segment
- Key competitors
- C&J Clark Ltd: Largest shoe manufacturer in UK - One of biggest privately owned companies
- Sports segment: Nike and Adidas - Controlled 60% of global market
Competitive advantage of GEOX
- Innovation strategy
- Creation of new market space, introducing products, patenting the product innovation,
investments
- Marketing strategy
- Focus on technical aspects of the products
- Operations strategy
- Focus on operational efficiency, outsourcing of production
Importance of entrepreneurs
- Starters of businesses
- Play an essential role in strategic firm decisions
- Important at firm start but also throughout a firm’s lifecycle
Entrepreneurship
- adds to economic growth of regions and countries
- creates employment – SME’s are numerically dominant and smaller firms contribute more to job
creation than larger firms
- could create societal and/or environmental change/value
Starting point
Inspiration -> Ideation -> Implementation
Design Thinking Process
Empathize -> Define -> Ideate -> Prototype -> Test -> Assess
Traditional view
Problem -> Solution -> Benefit
Alertness: the ability to identify opportunities without searching
- One ‘stumbles upon’ an idea
The Delta Model for law professionals
- The people
- Understanding and relating to clients, colleagues and ourselves
- The process
- Delivering legal services efficiently and effectively
- The practice
- Knowing, researching and clearly communicating the law
Sources of new ideas
- Consumers
- (In)formally monitor potential ideas and needs among consumers
- Let consumers express their opinions (what do they want/need?)
- Existing products and services
- Formally monitor and evaluate competitive products and services on the market
- Uncovering ways to improve current products
- Entrepreneurship is a response to opportunities created but not exploited by the incumbent
firms
- Files from the Patent Office in response to government regulations, research and development
PESTELE analysis
- Political changes
- Economic changes
- Social/societal changes
- Technological changes
- Environmental changes
,- Legal
- Ethical
Defining elements of entrepreneurial opportunities
- Novelty
- Value
- Unmet needs
, Werkgroep 1 - GEOX CASE
Inventor Innovator
- Comes up with new ideas - Comercializes ideas
- Likes inventing: idea is an end in itself - At some point needs to turn focus to
assessing desirability and feasibility
Which aspects of creativity and problem solving do you recognize in the case?
- Innovation and creativity hangen samen
- Problem solving: state the problem -> show the solution -> show the benefit
GEOX's key competitors
GEOX entered a saturated market:
- Footwear industry is a giant in the consumer world
- Typically focused on either customer group target (men/women/children) OR product type
(casual/formal/sport)
- Casual footwear market was fastest growing product segment
- Key competitors
- C&J Clark Ltd: Largest shoe manufacturer in UK - One of biggest privately owned companies
- Sports segment: Nike and Adidas - Controlled 60% of global market
Competitive advantage of GEOX
- Innovation strategy
- Creation of new market space, introducing products, patenting the product innovation,
investments
- Marketing strategy
- Focus on technical aspects of the products
- Operations strategy
- Focus on operational efficiency, outsourcing of production
