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Generate a list of all of the resources in your venture (produce a list of at least 10 resources that you already possess). This can include your human capital, social capital, financial capital, and capabilities. You may also discuss the organizational culture you intend to create (but, obviously, it's not a resource that you have, now.)
Human capital because I have the skills, knowledge, and experience in the IT field from internships and previous jobs. This is extremely value in todays business world since many people do not have very good computer hardware and software knowledge.
Financial Capital from friends and family. Every few weeks a good friend of mine calls me and asks what ideas I have and when can he fund them. This is replicable if other people want to start this business, but they might not be able to gather funds as quickly and easily.
I have the necessary equipment needed to start an IT business. This is very important because you need high end computer hardware to run an IT business.
(Insert 7 more) yeah I got nothing else
After conducting the VRIN analysis, determine what your top resource is. Explain why it's more important to your venture than all of the other resources.
My top resource is readily available funds to start a business. Sometimes the most challenging part of starting a business is gathering the necessary funding to begin and absorb the startup costs without being in debt.
Friday, November 16, 2018
23A
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Matt,
ReplyDeleteThanks for your post. I think identifying the human capital is an important resource for any company. The startup capital is valuable for covering costs, but I think you might be placing too much of an emphasis on it. Cash is valuable, but it is easy to come by and highly replaceable, with credit or barter systems. I think you probably have many additional non-tangible resources availableto you and your startup.
Thanks for the post.
Matt Iannuzzi
Matt,
ReplyDeleteThank you for this post. As Matthew stated above, identifying human capital is a very value company resource. Although the post says that we r supposed to come up with 10 resources, I think that the ones you identified here r suitable and provide value to your business idea. In my opinion, the one that brings the most value is human capital since IT is a very technical field.