Ethos - Spirit of the Community (Ethos), a sustainable tourism company in Sa Pa, Vietnam, existed to support a wide variety of environmental and social initiatives that benefited members of local, ethnic minority groups. In early 2019, the organization’s founders were working with 22 female tour guides and 260 ethnic minority host families to offer sustainable and socially responsible treks in the region. However, their ability to continue was in jeopardy due to changing regulations that would affect the working status of the company’s local trekking guides. Addressing this change was essential because the business depended on the local women who led Ethos tour groups, and the new requirement could mean Ethos’s underlying business model could fall apart, undermining its ability to support related environmental and social initiatives. How could the founders ensure that Ethos would survive as a long-term venture that was able to make a difference in the lives of the local people while also accomplishing their own long-term goals?
Ethos - Spirit of the Community (Ethos), a sustainable tourism company in Sa Pa, Vietnam, existed to support a wide variety of environmental and social initiatives that benefited members of local, ethnic minority groups. In early 2019, the organization's founders were working with 22 female tour guides and 260 ethnic minority host families to offer sustainable and socially responsible treks in the region. However, their ability to continue was in jeopardy due to changing regulations that would affect the working status of the company's local trekking guides. Addressing this change was essential because the business depended on the local women who led Ethos tour groups, and the new requirement could mean Ethos's underlying business model could fall apart, undermining its ability to support related environmental and social initiatives. How could the founders ensure that Ethos would survive as a long-term venture that was able to make a difference in the lives of the local people while also accomplishing their own long-term goals?
In early 2019, arc Thrift Stores was supporting 14 Colorado chapters of the Arc, an organization that advocated for children with intellectual and developmental disabilities (I/DD) in schools, helped individuals with I/DD live more independently, and supported legislation regarding their rights all across the state. The chief executive officer and marketing director of arc Thrift Stores were reviewing a survey they hoped would help them understand arc Thrift Stores' customers and broaden the interest in arc Thrift Stores among younger generations. By all measures, arc Thrift Stores was very profitable, but its core audience was aging, and the team wanted to ensure that it continued the successes of its past 50 years into the next 50 years. The company wanted people to understand the value of shopping their stores and the quality of items they could expect to find there. How could the company make inroads with a younger demographic? Should it focus more on sustainability? Should it consider moving into the e-commerce space?
In early 2019, arc Thrift Stores was supporting 14 Colorado chapters of the Arc, an organization that advocated for children with intellectual and developmental disabilities (I/DD) in schools, helped individuals with I/DD live more independently, and supported legislation regarding their rights all across the state. The chief executive officer and marketing director of arc Thrift Stores were reviewing a survey they hoped would help them understand arc Thrift Stores’ customers and broaden the interest in arc Thrift Stores among younger generations. By all measures, arc Thrift Stores was very profitable, but its core audience was aging, and the team wanted to ensure that it continued the successes of its past 50 years into the next 50 years. The company wanted people to understand the value of shopping their stores and the quality of items they could expect to find there. How could the company make inroads with a younger demographic? Should it focus more on sustainability? Should it consider moving into the e-commerce space?
In mid-2015, the founders of what3words, a technology start-up in London, England, were eager to position their company for growth. After having financed their two-year entrepreneurial journey with the help of angel investors, they were preparing to meet with a strategic investor to finance the next level of growth. The strategic investor needed to know that the founders had a clear path to profitability and a strategy for continued growth in order to secure long-term business potential. How could the founders create an action plan to move the start-up from surviving to thriving?
In mid-2015, the founders of what3words, a technology start-up in London, England, were eager to position their company for growth. After having financed their two-year entrepreneurial journey with the help of angel investors, they were preparing to meet with a strategic investor to finance the next level of growth. The strategic investor needed to know that the founders had a clear path to profitability and a strategy for continued growth in order to secure long-term business potential. How could the founders create an action plan to move the start-up from surviving to thriving?
In early 2017, the directors at Protospace, a makerspace in Calgary, Alberta, Canada, faced some challenges. The nine-year-old member-run organization operated as a “do-ocracy,” with a minimum of official oversight. However, the directors and some of the membership wondered whether Protospace could and should scale its growth by recruiting and accepting new members. Would a larger membership help or hinder the membership-driven makerspace? Should the organization hire a staff member so that members would have more time to work on their projects? What would be the implications of a having larger membership and a paid staff member?
In January 2016, two entrepreneurial brothers attended an academic conference on small business and entrepreneurship to sell their product, the Online Venture Challenge, a web-based software-as-a-service retail simulation system. The brothers also hoped to demonstrate their second product idea, Launchboard, an interactive product that enabled users to make development plans and record their progress. Both products were intended as tools for entrepreneurship educators. The brothers did not have much success selling their first product during the conference, but two professors wanted to use Launchboard that semester. The brothers needed to decide how to position their product line. Should the Online Venture Challenge be promoted as one primary product that offered multiple complementary features? Or should their two products be positioned as two separate but complementary products? Or was it better to have two stand-alone products and two corresponding businesses? The brothers needed to better understand their own business ideas to determine the approach they should take. Fittingly, Launchboard, the new tool they had created, might actually help them to do just that.
In early 2017, the directors at Protospace, a makerspace in Calgary, Alberta, Canada, faced some challenges. The nine-year-old member-run organization operated as a "do-ocracy," with a minimum of official oversight. However, the directors and some of the membership wondered whether Protospace could and should scale its growth by recruiting and accepting new members. Would a larger membership help or hinder the membership-driven makerspace? Should the organization hire a staff member so that members would have more time to work on their projects? What would be the implications of a having larger membership and a paid staff member?
In January 2016, two entrepreneurial brothers attended an academic conference on small business and entrepreneurship to sell their product, the Online Venture Challenge, a web-based software-as-a-service retail simulation system. The brothers also hoped to demonstrate their second product idea, Launchboard, an interactive product that enabled users to make development plans and record their progress. Both products were intended as tools for entrepreneurship educators. The brothers did not have much success selling their first product during the conference, but two professors wanted to use Launchboard that semester. The brothers needed to decide how to position their product line. Should the Online Venture Challenge be promoted as one primary product that offered multiple complementary features? Or should their two products be positioned as two separate but complementary products? Or was it better to have two stand-alone products and two corresponding businesses? The brothers needed to better understand their own business ideas to determine the approach they should take. Fittingly, Launchboard, the new tool they had created, might actually help them to do just that.
Martin Shkreli, founder of Retrophin and former CEO of Turing Pharmaceuticals, has become the poster boy and public face of corporate greed. But is he an entrepreneur? The authors take pro and con stances against each other in this case study.
The case, set in 2012 and 2013, follows two students enrolled in a business accelerator program who experience the uncertainty of creating an idea from an interesting sandbox, or broad problem space, (in this case, the construction industry) and then developing it into an innovative idea for a new business. The two students elicit a broad range of feedback from individuals in the construction industry and use that feedback to develop their venture idea. The case is process-focused in that there is not one right answer in terms of how the students should proceed with developing their idea. Instead, the case provides an opportunity to practise making decisions based on external feedback.
In 2012, an entrepreneur and his business partner have created ServiceBox, a web-based software-as-a-service (SaaS) work order management system for use in plumbing and heating businesses. The product was developed in response to a request from a friend, who owns a plumbing business. The entrepreneur is now ready to sell this product, relying on a subscription-based SaaS business model for revenue. He has scheduled a meeting with a heating contractor and is ready to sell. This case presents an exercise in sales negotiation, in which the entrepreneur (whose perspective is provided in Case A) works to sell a subscription to the heating contractor (whose perspective in provided in Case B). Students have an opportunity to practise sales promotion and selling for an entrepreneurial venture. Use with 9B16M016.
The case, set in 2012 and 2013, follows two students enrolled in a business accelerator program who experience the uncertainty of creating an idea from an interesting "sandbox," or broad problem space, (in this case, the construction industry) and then developing it into an innovative idea for a new business. The two students elicit a broad range of feedback from individuals in the construction industry and use that feedback to develop their venture idea. The case is process-focused in that there is not one "right" answer in terms of how the students should proceed with developing their idea. Instead, the case provides an opportunity to practise making decisions based on external feedback.
An entrepreneur and his business partner have created ServiceBox, a web-based software-as-a-service (SaaS) work order management system for use in plumbing and heating businesses. The product was developed in response to a request from a friend, who owns a plumbing business. The entrepreneur is now ready to sell this product, relying on a subscription-based SaaS business model for revenue. He has scheduled a meeting with a heating contractor and is ready to sell. This case presents an exercise in sales negotiation, in which the entrepreneur (whose perspective is provided in Case A) works to sell a subscription to the heating contractor (whose perspective in provided in Case B). Students have an opportunity to practise sales promotion and selling for an entrepreneurial venture.
In December 2013, an entrepreneur based in Orange, a small town in Australia, is considering the difficulties besetting his five-year-old start-up, the Orange Watch Company. He faces seemingly insurmountable challenges: his business is located far away from major cities; Australia is not close to the demand or supply market for high-end watches and watch parts, which is largely in Asia and Europe; and he has limited financial resources. Yet he continues to persist in his efforts to grow the firm. He has come close to bankruptcy several times and his venture is far from being able to provide a steady stream of income. He is wondering whether to continue to push forward or if he should shut his business down.