IVR Mission Statement

1
IVR Mission Statement
The Mission of our Innovative Venture Research
Team is to assess the commercial potential of our
assigned technology by

• Identifying products which can be created from
  the technology and market segments of customers
  who will buy them.
• Assessing the size of these market opportunities,
  competition and developing multiple business
  models for generating revenue from each
  opportunity.
• Evaluating the (internal) strengths and
  weaknesses and (external) threats which affect
  implementation of each business model / market
  opportunity combination.
• Selecting and justifying the two "best"
  combinations and suggesting a plan of action.

2
Accomplishing the Mission
ISSUE Define it!
Issues
Issues
Products
Capabilities Resources
SWOT Analysis
Mission Compelling Business Models
The Technology
Competition
Conclusions Select Best Opportunities
Issues
Issues
Customers
Action Plan
Issues
3
Internal Environment
External Environment
Mission Statement
Opportunities
Strengths
Weaknesses
Threats
4
Mission Statement

• Defines long term direction over the next few
  years
• Who is customer?
• What are our products?
• The DNA of your organization
• Company whose DNA is best suited to its
  environment is best equipped to survive and
  thrive. It has Sustainable Competitive Advantage.

5
Sustainable Competitive Advantage

• Resources that only we possess within our own
  organization
• Rare
• Inimitable (cant be copied easily)-
• Patents come from SCA
• team synergy (rather than individual team
  members) that allows continuous innovation
  core competencies GEs knowledge of turbines
• Cultivated by the organization to be competitive
• No Close Strategic substitutes Toyota vs. Kia

6
Toyota vs. Kia

• Toyota - reputation is that it builds best
  quality car in world an SCA
• Kia doesnt have reputation for quality so it
  buys it with a 10 year warranty not really an SCA

7
Weaknesses

• Tennis - Do you have a backhand shot? If not, the
  competition will play to your backhand
• Travel Agents are not surviving because they
  cant adapt to the internet.
• New Disposable Breathalyzer technology sold for
  1.00 each test will place competitive pressure
  on existing machine manufacturers they are
  vulnerable, they have a weakness.

8
Weaknesses

• Weaknesses may not be recognized as such. Timex
  watch company in Arkansas versus Texas
  Instruments LCD electronic watches for 10.00
• Assess weaknesses with a broad perspective

9
Opportunities

• Set of circumstances in external environment that
  affords us the chance to apply our core
  competencies (strengths) to a new target market
  segment having a unique set of needs we can
  uniquely satisfy
• Example - Nanotech devices that monitor various
  chemicals applied to calcium levels in dairy
  cows or mercury levels in pregnant women or
  glucose monitoring in diabetics

10
Threat

• In the external environment, a threat undermines
  the effectiveness of our core competencies
  -----our Breathalyzer is a threat to existing
  manufacturers
• S Curve of Technology Adoption

11
(No Transcript)
12
S Curve

• Vacuum Tubes, transistors, integrated circuits,
  microcircuits
• Baldwin Locomotive steam powered was king but
  then GE GM developed Electromotive Diesel
  technology as a SUBSTITUTE GOOD and left Baldwin
  in the dust.

13
Things to keep in mind in External Environment

• Acquire intimate knowledge of
• Customers
• Competitors
• Suppliers
• Regulators
• Possible substitute goods

14
Try to identify Fragmented Markets of customers
to sell to

• Few customers price taker (Wal-Mart)
• Many customers price setter
• Backward Vertical integration by Customers into
  your position on the Value chain

15
Competitors

• Who can change the nature of your industry?
• Not just whos in the business now

Suppliers

• Watch out for suppliers (particularly
  outsourcing) who
• forward integrating into your market.
• Patents can be circumvented
• Example Cholesterol drugs

16
What follows SWOT?

• Setting objectives of where to go and
• what to do based on conclusions from your
  internal and external environment analysis
• Developing Strategies to get there and get it done