Developing Successful Business Idea - Learner Logo Book in Business - Case Study Example

LLB in Business Student’s name: Institution: Instructor: Subject: LLB in Business Of the six reasons listed, the sixth reason is the most compelling. The founders of the organization had a very strong vision on the success of their enterprise. It is this strong vision that drove them to have strong passion and full commitment in establishing their venture. Furthermore, they were able to come up with very convincing presentation due to the passion they had on it. Nothing was to stop the founders from achieving their objective, and evidently showed by the fact that they started the project way before they presented their idea. The strong vision was also the reason that they came up with appropriate plan that had focused on marketing, team organization and their products. Any strategic plan is strongly guided by the strong vision (Mark, 2009, p.73). As the founder of d.light my marketing strategy would be centered on creating best form of awareness to the customers. I would use the local education institutions and people to educate and create awareness of the product. I would further come up with a variety of products that uses my technology such as radios, phone charging systems, water heaters. Sylvia, Larry, & Romulo (2003, p. 9) observes that variety of products is essential since it helps in creating a strong brand name. To ensure that my products are easily known, I would offer samples in most social places like shopping centers, pubs and other common social environments. Local education institutions like primary, secondary and college schools would make the community take interest in the products since they would be seen to promote growth in the institutions and society. Large companies such as General Electric are unable to bring light to people since they have specialized in large amount of power that is costly in terms of generation, distribution, transmission and maintenance of the equipments involved. The power produced by these companies is mainly in large scale and for industrial use. It is further difficult to produce power in small quantities for low income earners without using a lot of funds. On the other hand, Sam Goldman and his team have been able to come up with a renewable source of energy that is overcomes the cost of generation, distribution and transmission. Solar energy is not only renewable but also easier to maintain and make accessible to any part of the world. The success of business could be triggered when it is able to capture the needs of majority and variety of people while offering the product in different quantities (Tich, Forbrun & Devanna 1982, p. 53). One of the major reasons for developing a business plan is that it helps the owner to keep focused to his objective whenever there are issues that tend to keep the business astray. Through the business plan that Sam Goldman prepared, he was able to put together all the components that are required in achieving the objectives of his new business. Through strictly following this plan and periodically evaluating it, he was able to gather the right people and effort and put the business in its rightful position. Meticulously crafted business plan not only helped the owner but also the employees and other business partners in keeping focused to the success of the business. This way, everyone was always kept aware of his or her role. Sam Goldman’s passions and experiences 1. Goldman had lived in different nations such as West Africa, Canada, India, Peru and Pakistan. Out of this, he was able to observe the common problem that communities without electricity experienced and how they used costly means to tackle the problem. 2. Goldman experienced a boy badly burnt in Kerosene fire, an event that deeply moved him. This acted as a motivator to him to come up with another means of lighting that was not harmful. 3. The battery powered LED head lamp was the major factor that motivated Goldman to offering alternative form of energy to kerosene. He was impressed by the difference that this LED head lamp had compared to use of kerosene making him think of how it would be improvised to produce renewable energy that could be used by all the people. I have a passion for designing clothes. I can be ideal venture for producing new cloth products through my passion in design. I grew up in local village where my father was a tailor. I got the passion of cloth designs from my father. Out of the designs he made and the mistakes that I openly see in poorly designed clothes people wear, I believe I can come up with good designs that can sell. Microsoft is one company that has addressed significant issues all over the world. The first computer was developed for solving arithmetic and help in making quicker decisions where multiple inputs were considered. Ever since the establishment of the first computer, Microsoft has focused on developing software that is almost applicable to any field. Through use of programmed computer software a computer is able to perform multiple and complex transactions in a very short period of time. To ensure that the company cuts across any field, it has periodically been reviewing its operating system and application software to ensure that they meet as many customers need as possible. When compared to d.light, the founder of Microsoft Bill Gates had similar strong vision. Bill gate and his former cofounder Steve Jobs had been exposed to environments where all transactions were manually made. Business transactions took a long time to be executed while all this could simply be computerized and performed using the electric gates. It is this vision that led them to use any innovation in electrical technology in refining their machines to small size, improving computer storage capacity, improving internal computer processing speed and reducing the overall computer cost. Today, Microsoft has its products running in majority of machines and enjoys the fastest growth in the market. Like d.light, a lot of research has been carried out by Microsoft to determine the customers need. Out of this research, Microsoft invested in design of software products that matched user requirements therefore attracting interests from the market. References Barringer, B. R. & Ireland, R. D. (2011). Developing successful business ideas, Texas: A & M Universities. Mark L. L. (2009). Strategic human resource management. The evolution of the field. Human Resource Management Review. 19 (1) 64–85. Sylvia, C., Larry, D., & Romulo, R. (2003). Strategic planning, Entrepreneurship, 5 (2), 4-50. Tichy, N. Forbrun, C. and Devanna, M. (1982). How to Plan for new Venture. Modern Business Planning. 7(2), 47-61. Read More