|Assignment ID Number||AFFGEHU83939HD|
|Type of Document||Essay|
Case Study : 3 essay Questions
Critically and use examples for illustration of ideas/ avoid coping from the textbook and or websites use your own language.
Tim Lewis Fills a Niche
Tim Lewis owns T. A. Lewis Associates in Birmingham, Alabama, a consulting firm that designs telephone, data, and video systems. In this information age, Lewis success might seem expected, but it is based on experience, hard work, and finding a market niche.
In his hometown of Tuscaloosa, about 35 miles of Birmingham, Lewis gained both business and technical skills. While in high school, he worked as a salesperson at a local shoe store and served as a business manager for a local community choir.
After earning a degree from the University of Alabama, Lewis became an account manager and sales trainer for TMC, a new and growing long-distance phone company. When he went to many companies to sell long-distance service, executives would ask him many questions and seek his advice. The buyers wanted his opinion on fax machines, voice-mail systems, and copy machines. They wanted some knowledgeable person to give them fair and unbiased answers. Lewis offered suggestions, and most of the time his advice turned out to be right, so they kept asking him.
It occurred to Lewis that a market niche might exist that no one was filling. When he studied the market, he learned that it was very difficult for small to medium-sized firms to get objective information on products. Most consultants were representatives of particular manufacturers; if clients were not interested in buying the products they were selling, they were not interested in giving advice.
After 18 months of research, Lewis prepared a comprehensive business plan. Then with the help of Birmingham Business Assistance Network (an incubator organization for small business), he ventured out on his own. The contacts he made while working with TMC provided an easy start. When he left TMC, he had accounts at seven Birmingham-area hospitals, and the business he got from them increased. Thats why a third of his customers are in health care industry.
He now has 18 full-time employees and is planning to expand by adding a training facility; Lewis continues to live in Tuscaloosa and drives 90 minutes to and from his facility in Birmingham. Of his commuting time, he says, Ive got a cellular phone and a beeper, so I can work on the way back.
Answer the following questions:
1. B 205A (Exploring Innovation and Entrepreneurship) has given us various tools and methods in analyzing and extracting a new idea which is considered to be valuable and profitable if implemented properly.
Explain in depth the five- step model described in B205A.
Explain the key factors that influence Tim to exploit the entrepreneurial opportunity provided in the case using the five- step model described in the course.
2. Based on the case above, Provide two examples and explain them in details to evaluate Tims approach to identifying the market niche using characteristics of successful entrepreneurs.
3. The key to innovation and entrepreneurial success lies in the ability to make effective use of individual and shared knowledge
Explain whether Tim is an inventor or innovator. Your answer must be supported and justified in relation to course materials presented in B205A
0 – 1 Points
2 – 3 Point
4 – 5 Points
Unprofessional communication; many errors; no APA
Minor grammar, spelling, and APA errors
Postings are professional and in standard written English with APA
Complete addressing of assessment criteria
Criteria not fully addressed
Minimal response to criteria; minor aspects missing
All criteria are fully addressed
Evidence of critical thinking or extending information
Critical thinking or extending information not evident
Obvious responses to questions; little thought evident
Posts demonstrate critical thinking with evidence base from research or experience
No connections provided
Minimal connections provided to readings/activities
Clear connections to readings/activities
Submitted an overview / summary of the case selected for analysis. Also identified those procedural steps to be analyzed.
Did not provide an adequate overview or summary of the selected case or failed to identify those steps to be analyzed.
Provides an adequate overview or summary of the selected case and steps to be analyzed though may not be clear or complete.
Case overview is clearly presented including all appropriate investigative steps to be analyzed.
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