Business and Entrepreneurship
Creating a new business or product line within an existing organization is challenging. Look within your current work organization (or one of interest to you) and, taking on the role of an intrapreneur, consider the launch of a new product line. Determine if the product line will be integrated into the existing organizationâ€™s legal structure or created as a new entity ( joint venture, subsidiary, etc.). Describe the product or service offering, customer base, competition, management structure, cultural impact on the current organization, and financial support needed to launch the new product line. For this assignment evaluation write a 5-7 page paper and address the following topics: 1. Describe the Product or Service offering. Include such aspects as: a. Current market and industry. b. Current product offerings. c. Proposed product offering and market . 2. Describe the Customer base. a. Who are the current customers? b. Will the new product line be offered to existing customers, new customers, or a combination of both? 3. Describe the Competition. a. Who are the main competitors for the new product line? Are they the same competitors for the existing organization suite of products/services? b. What are the strengths and weaknesses of the competitors for the new product line? 4. Describe the Company and Management Structure a. Will the new product line be part of the current company legal structure (if so describe the current company legal structure)? If not, describe the new company legal structure where the new product line will exist (e.g. subsidiary, joint venture). b. Will the new product line require a separate management team or be a project within an existing management team? 5. Describe the Cultural impact a. Does the new product line fit within the current companyâ€™s mission, vision, values? If not, do the mission, vision, values need changing? b. How complementary is the new product line to the existing company product lines? 6. Describe the Financial Support a. Assuming the new product line is launched as part of the existing organization, can it be funded with existing capital? If not what are the proposed source(s) of funding? b. If the decision was to create a new subsidiary (or joint venture), will funding come from the existing organization (or if a joint venture from existing organizations)? If not what are the proposed sources of funding?