Reference Textbook: Dorf, Richard C. and Byers, Thomas H. (2019) Technology Ventures From Idea to Enterprise, Fifth Edition, McGraw-Hill. ISBN: 978-1-259-87599-1. Case study3: Chapters 1-4 each contain a section entitled Venture Challenge. Answer the questions for the following venture: As we know, Global Industries encourages its employees to research applications of 3-D prototyping. Imagine, as a research employee, you have invented a method of using a robot and a 3D prototype to make pizzas in pizza restaurant settings. Your robotic pizza-manufacturing cell replaces five employees in a pizza shop. After some discussion, you now own the intellectual property and have a leave of absence from GI to make a go of this business. GI has offered to invest your one-years salary and benefits as well in return for 10% of your business. (This means they will pay you for a year while you develop your start-up in return for 10% of your business.) Discuss your business approach using the Venture Challenge questions.

Additional info for reference in questions:

1. 2. VENTURE CHALLENGE Create a brief vision statement for your venture. State the value proposition for the venture. Create a draft business model for the venture using the canvas ele- ments in Figure 3.4. 3. 1. 2. 3. VENTURE CHALLENGE Develop a SWOT analysis using the format of Table 4.4. Select your strategic approach from Table 4.6. Create a partnership strategy as described in Section 4.7. Describe your strategy in one or two sentences that could be circulated to your employees and allies. Why and how will your venture be socially responsible? 4. 5. FIGURE 3.4 Business model canvas TEAM NAME HERE FILL OUT ALL. 9 BOXES OF THE CANVAS IN ORDER I THRU 9 Key Partners Key Activities Value Propositions Customer Relationships Customer Segments 1 6 7 1 4 2 Which of our customers problems are we helping to solve? How will we get keep and grow Customers? Who are our most important customers? What are their archetypes? Channels What Key Activities do we require? Manufacturing? Who are our key Software? Supply Partners? chain? Who are our Key Key Resources Suppliers? What are we getting from them? Giving What Key them? Resources do we require? Financial physical, IP, HR? Cost Structure 8 Which customer needs are we satisfying? 3 What are the key Features of our Through which product that match Channels do our customers problem/ Customer Segments need? want to be reached? Revenue Streams What job do they want us to get done for them? What are the most important costs inherent in our business model? Fixed? Variable? 9 How do we make money? What's the revenue model? Pricing tactics? 5 TABLE 4.4 SWOT analysis for Amgen. Organizational (internal) Environmental (external) 1. Strengths: 1. Opportunities: Expertise in development and Expansion of marketed products for manufacturing of biologic drugs new geographies, indications, and (e.g. proteins and antibodies) formulations High-margin products and limited Allocation of resources to discover competition novel therapeutics to sustain growth 2. Weaknesses: 2. Threats: Inability to discover novel Pharmaceutical companies entering the therapeutics to avoid declines in biologies arena revenue Competition from follow-on biologies and pricing pressures Niche Relationships TABLE 4.6 Four common types of strategies and their characteristics. Type of strategy Factor Differentiation Low cost Differentiation-cost Distinctive Innovation and Processes, logistics Innovation and competencies relationships processes Product differentiation High Low Medium Market segmentation Many segments Mass market Many segments Examples Intel RadioShack Dell Microsoft Wal-Mart Southwest Airlines Medium One or two segments Getty Images Incyte Create a partnership strategy as described in Section 4.7. TABLE 4.7 Ten types of sustainable competitive advantage. Type Example High quality Hewlett-Packard Network size eBay Low-cost production or operation Wal-Mart Product design and functionality Google Market segmentation Facebook Product-line breadth Amazon.com Product innovation Medtronic Effective sales methods Pfizer Product selection Oracle Intellectual property Genentech