1. Human capital (knowledge) - Although I actually never started a business before I do have knowledge about what to do and what not to do.
- Valuable - Very valuable because everyone needs it at some point in their life
- Rare - Very rare because not everyone has knowledge in what they are doing
- Inimitable - I think it is and it not inimitable but it all depends if the people are in the same area of work.
- Non-substitutable - None
2. Human capital (skills) - You need skills in any company to be successful.
- Valuable - Very valuable because your company can be different from others and with the skills the people have then the company will have a huge advantage
- Rare - Not rare because everyone has skills but it depends on what and how you can help others with it
- Inimitable - Again, I think it is and it is not inimitable because it all depends in the area you work at
- Non-substitutable - None
3. Human capital (education) - The more educated you are the more the easier it is for you to land a job in a huge company
- Valuable - Very valuable because education is important not only in work but in life as well
- Rare - Very rare because not everyone is well educated
- Inimitable - It is not imitable because everyone learns differently
- Non-substitutable - None
4. Social capital - I have friends that I can contact to help me the company
- Valuable - Very valuable because with their past experiences they can help me with many things
- Rare - Yes and no because it all depends on the location you are at
- Inimitable - I think it is inimitable because you can talk to others that are not doing the same thing and you can still obtain really good information
- Non-substitutable - None
5. Financial capital (money) - Not everyone wants money, some just want to help
- Valuable - Valuable to those who want it and not valuable to those who do not want it
- Rare - Not rare because money is everywhere, it comes and goes
- Inimitable - Not imitable at all because everyone can obtain it one way or another
- Non-substitutable - Yes, there are many ways out there to obtain money
6. Capability (technology) - The use of great technology for the company
- Valuable - Very valuable because technology can help the company grow and make it stand out compare to others
- Rare - Not rare because most companies do it
- Inimitable - Not inimitable at all because any company can do it
- Non-substitutable - None
7. Experience with speaking - I do not have problems with speaking to customers
- Valuable - Very valuable because it can help making business decisions with others who are interested in my company
- Rare - Very rare because not everyone can do it or are comfortable talking to others
- Inimitable - It is inimitable because anyone can get out of their zone
- Non-substitutable - Yes I think there many other ways to obtain the same benefits if you go and look for it
8. Experience with being helpful - In order to gain more customers you need to be helpful and give them a great experience with it
- Valuable - Very valuable because you can obtain more customers in the future which will help your company become known in the area
- Rare - Very rare because not everyone is nice or do not like to help others
- Inimitable - Not inimitable because you cannot change the way you are or how you act in my opinion
- Non-substitutable - None
9. Experience with sales - I am very good at selling and convincing people to buy products
- Valuable - Very valuable because it can help the business sell more products which leads to revenue
- Rare - Very rare because not everyone is great at selling products to people. They lack at it
- Inimitable - It is inimitable because you can change the way you try to sell products to customers
- Non-substitutable - Yes, you can gain tips and receive help from others to become a better sales man
10. Support from varies friends/families members - Every company needs support to become a big and great deal in the market
- Valuable - Very valuable because each and every company needs support as a back bone
- Rare - Not rare because each company that I know of has support one or another
- Inimitable - Not inimitable in my opinion because people are trying to help you
- Non-substitutable - None at all because their will not be any other support like your friends/family members
My top resource will be the support of your friends and family members because without a support like them then your business will never get going. They are the back bone of anything that you think of. They are also the ones that help you succeed in life.
Hi Hugo,
ReplyDeleteI really liked your post, I believe that this exercise is really helpful in order to outline what we can count with because sometimes we do not even realize all the tools that we count with for starting a project. Also I think that your sales experience and your human capital will be really helpful for your business as some relationships you'll made will be truly beneficial for your project.
Hello Hugo,
ReplyDeleteI didn't even realize to put my friends and family as a resource. When I was doing this assignment I was using too much of a corporate way of thinking. I completely forgot the closest and most reliable resources to me. I love how you made your friends and family the most important resource. They are always the most important regardless of what task there is at hand.
All of your qualities are very similar to mine. I think that you will have all of the capabilities necessary to run and operate this business.
ReplyDelete