Applies a customer-centric orientation to identify unmet customer needs that can be met with a new product or service.
I need assistance with this PowerPoint presentation. I will provide all resources and instructions. Professional MUST include any revisions needed, Plagiarism report foot notes and citation.
ENTREPRENEURIAL MINDSET FEEDBACK 02-14-22
1) Applies a customer-centric orientation to identify unmet customer needs that can be met with a new product or service. NOT YET MASTERED!!!!!
You present an unmet need and a service solution. What is lacking is the meaning of the term customer centric orientation. Further, discuss how this mindset helps to identify an unmet need. Go to Resource: The Innovative Mindset Your Company Can’t Afford to Lose, Paragraph Title: Prioritize problem solving.
2) Describes various business models (free, freemium, etc.) used in for-profit and social enterprises and evaluates their appropriateness in various contexts. NOT YET MASTERED!!!!!
You have a correct definition for Free in a for-profit sense. What is yet to uncover is the Fremium model for profit and social and Free – for social. For Fremium, consider a company like Spotify with a free service and the benefits advertisers have from a marketing standpoint. Finally, in the case of Habitat for Humanity offering free homes – explain the value contributing sponsors have in donating goods and services and what a ‘membership’ represents in terms of a Fremium social model.
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ENTREPRENEURIAL MINDSET INSTRUCTIONS AND RESOURCES
Scenario
You work for CM Consulting Firm as an associate director. In this role, you oversee product managers who work for a variety of clients meeting a variety of needs. Senior management has noticed that the project outcomes are often similar from one product to another. They are striving to set themselves apart from their competition; as part of this new initiative, they would like the firm to be seen as both leading-edge and innovative. They recognize that training is necessary to direct and inform product managers to approach tasks with an entrepreneurial mindset. Keith Kirk, the firm’s director and your supervisor, has asked you to lead this initiative with a robust training presentation.
Company Overview
Mission: To lead the business consulting industry in highly innovative client business solutions.
Current Projects
Keith has noted that he is impressed with your work. He would like you to present two examples demonstrating how you would use your entrepreneurial mindset to identify solutions/opportunities for projects currently in the queue. Your examples should address two different business models:
Media Company A large for-profit cable company approached your consulting firm because their profits were declining. With less expensive video streaming services increasingly available, customers no longer want to pay up to ten times more to access more channels when they could pay significantly less and access what they want when they want. Daycare A nonprofit daycare that focuses on providing quality childcare for working class families approached the consulting firm. They recently built an expansion and are ready to serve new customers in a rapidly growing community. Consider providing more services in childcare as well as reaching out to other segments in the population, both during daytime and evening hours.
Directions
You will develop a presentation to begin a series of training and coaching for product managers. It should demonstrate the skills that lead to an entrepreneurial mindset in addressing business opportunities.
· Entrepreneurial Mindset: Describe the entrepreneurial mindset and provide examples of successful entrepreneurs to inspire your audience to begin building its own entrepreneurial mindset and developing entrepreneurial skills.
· Explain how the entrepreneurial mindset is beneficial in addressing business opportunities. Include the following in your response:
· What are the key characteristics of an entrepreneurial mindset?
· Why are those traits and skills valuable in a business environment?
· Provide an example of a well-known successful entrepreneur who demonstrates entrepreneurial mindset traits that you would like to highlight. Include the following in your response:
· What was their proposed product or solution and why do you consider them a strong example?
· What characteristics of an entrepreneurial mindset did they demonstrate that stood out?
· What barriers did they overcome, and how did they demonstrate an entrepreneurial mindset in both development and bringing the product to market?
· Company Examples: Your supervisor Keith mentioned that he would like you to present your own approach to business opportunities using an entrepreneurial mindset. For this section, you may choose examples from the current projects to frame your discussion.
· Explain how an existing product or service could be significantly changed or improved by identifying a gap in the market and applying an entrepreneurial mindset to address it
· Briefly highlight how you would develop this product or service and then bring it to the market.
· Apply a customer-centric orientation to identify unmet customer needs that can be met with a new product or service.
· Explain the role of failure as part of the process in an entrepreneurial environment.
· Describe various business models (free, freemium, etc.) used in for-profit and social enterprises, and evaluate their appropriateness in various contexts.
What to Submit
Every project has a deliverable or deliverables, which are the files that must be submitted before your project can be assessed. For this project, you must submit the following:
Entrepreneurial Mindset Presentation Your presentation should be 6—8 slides in length (in addition to the title slide).
Supporting Materials
The following resources may help support your work on the project:
Citation Help Need help citing your sources? Use the CfA Citation Guide and Citation Maker.
Resource: How to Design an Effective Presentation This guide provides tips and best practices for creating PowerPoint presentations.
INTRODUCTION TO ENTREPRENEURIAL MINDSET:
https://files.eric.ed.gov/fulltext/EJ1192500.pdf
https://scholar.flatworldknowledge.com/books/30862/collins-ch05_s01/read (Section 2.2)
https://fod-infobase-com.ezproxy.snhu.edu/p_ViewVideo.aspx?xtid=93353
https://www.ted.com/talks/cameron_herold_let_s_raise_kids_to_be_entrepreneurs#t-3275
https://www.youtube.com/watch?v=Ihs4VFZWwn4
BUILDING BLOCKS OF AN ENTREPRENEURIAL MINDSET:
https://www.ted.com/talks/paul_tasner_how_i_became_an_entrepreneur_at_66
https://www.ted.com/talks/maya_penn_meet_a_young_entrepreneur_cartoonist_designer_activist
https://www.biographyonline.net/business/top-10-entrepreneurs.html
https://www.ted.com/talks/majora_carter_3_stories_of_local_ecoactivism/transcript?language=en
VARIYING BUSINESS MODELS:
https://www.ted.com/talks/jeremy_heimans_what_new_power_looks_like#t-38692
https://www.entrepreneur.com/article/233451
http://entrepreneurinsight.com.my/types-of-business-models/
OVERCOMING BARRIERS:
https://www.inc.com/marissa-levin/4-great-lessons-in-failure-from-the-worlds-most-su.html
https://www.youtube.com/watch?v=hNQRRsL3R4A
https://www.ted.com/talks/larry_smith_why_you_will_fail_to_have_a_great_career
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Entrepreneurial MINDSET
Walter Jofre Jr.
Entrepreneurial Mindset
When it comes to defining an entrepreneurial mindset, it's crucial to remember that the term "entrepreneur" has no universal definition. However, it is frequently linked with business owners. Individuals that participate in visionary thinking and creativity, as well as taking advantage of chances, are described as having an entrepreneurial mindset in this context. (Nadelson, 2018)
Jeff Bezos, Bill Gates, and Oprah Winfrey are all successful entrepreneurs. Oprah is a prime example of how hard effort pays off, as well as a typical rags to riches story that only a few people can achieve.
Bill Gates, and Oprah Winfrey are all successful entrepreneurs. Oprah is a prime example of how hard effort pays off, as well as a typical rags to riches story that only a few people can achieve.
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How Entrepreneurial Mindset is beneficial in addressing business opportunities
Visionary reasoning and inventiveness, undeniable degrees of inspiration, persistence, and versatility, interest, potentially dangerous course of action taking, and high levels of self-regulation are all hallmarks of an entrepreneurial mindset. (2018, Nadelson). These characteristics and skills are advantageous in the workplace since they provide an advantage to individuals who are driven to succeed.
These characteristics and skills are advantageous in the workplace since they provide an advantage to individuals who are driven to succeed.
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How Entrepreneurial Mindset is beneficial in addressing business opportunities
Mark Zuckerberg founded the world's most popular social networking site. (Facebook) Throughout his undergraduate years, he tried a number of different concepts that all failed. He never gave up and took risks that may have cost him a lot of money. Multiple films have been made about the current CEO's ascent to success and what goes on behind the scenes of competitive individuals.
He never gave up and took risks that may have cost him a lot of money. Multiple films have been made about the current CEO's ascent to success and what goes on behind the scenes of competitive individuals.
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Product or Service that can be improved
Improvements that can be made to a product or service. During times of crisis, particularly today, many businesses encounter insurmountable obstacles that result in a drop in income across the board. GameStop, for example, has long been a go-to retailer for players looking for a wide variety of physical disc-based games. Due to the pandemic, they have been forced to close many of their stores in order to reduce their losses. GameStop, on the other hand, might place a greater emphasis on online and in-store promotions, offers, and gear. This puts customers at rest, and while it won't completely solve the company's problems, it will increase overall income in the long run.
Workers would should be prepared in managing get orders, online installments, and internet altering for this to work. Client driven methodology is carrying on with work to the greatest advantage of the client, regardless of whether that implies creating extraordinary encounters, expanding administrations, or building connections. It is important that GameStop work force go through preparing to manage out-of-individual cooperation.
. Client driven methodology is carrying on with work to the greatest advantage of the client, regardless of whether that implies creating extraordinary encounters, expanding administrations, or building connections. It is important that Gamestop work force go through preparing to manage out-of-individual cooperation.
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Role of failure:
Failure is an unavoidable part of life, especially when options are limited and risks are high. Failure, on the other hand, is useful in revealing what doesn't work. It ensures that success will finally be achieved through trial and error. Although failing at something is never a pleasant experience, it is unavoidable. Many people have suffered failure, from Michael Jordan to Jeff Bezos, but only those who succeed are able to lecture about their shortcomings. Only those who persevered can speak about what they've been through and what they've put in.
Many people have suffered failure, from Michael Jordan to Jeff Bezos, but only those who succeed are able to lecture about their shortcomings. Only those who persevered can speak about what they've been through and what they've put in.
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Various business models
When it comes to different company models, it's crucial to consider their success as well as their advantages and disadvantages. Although sharing digital content raises privacy concerns in everyday life, it is nonetheless a rapidly developing sector with a forecasted value of 110 billion dollars in the future (Sacks, 2011)
Physical material sharing is less common in this age of technology, but it can still be profitable if done appropriately and appeals to customers. The present new plan of action is to offer things as "free," yet swell transportation costs to benefit from "free" stuff. They're focused on more youthful grown-ups who respond incautiously to the "free" part of the products, causing them to feel like they're getting a decent arrangement.
The present new plan of action is to offer things as "free," yet swell transportation costs to benefit from "free" stuff. They're focused on more youthful grown-ups who respond incautiously to the "free" part of the products, causing them to feel like they're getting a decent arrangement.
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References
Nadelson, L. S. (2018, September 27). Developing Next Generation of Innovators: Teaching Entrepreneurial Mindset Elements across Disciplines. Retrieved from http://www.sciedu.ca/journal/index.php/ijhe/article/view/13967
Karen Collins. (2017). Exploring Business. Boston, MA: FlatWorld
Sacks, D. ( 2011 ). The sharing economy. Fast Company, 155, 88 – 131.
Lifestyle, E. (n.d.). Shopify Free Just Pay Shipping How It Works. Retrieved from https:// www.youtube.com/watch?v=L9Cdmjtkq3I
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