Entrepreneurship and Innovation - Assignment Example

The paper "Entrepreneurship and Innovation" is a wonderful example of an assignment on management. The report has documented the opportunity analysis of an entrepreneurial opportunity for Magic Leap. Magic Leap is a Start-up Company which is located in America. It aims at developing a head-mounted virtual retinal display with the ability to superimpose a 3D computer-developed imagery over the objects in the real world. The primary goal of Magic Leap is to overlay the virtual reality on the real-world which is known as Mixed Reality (MR). The report has also evaluated the marketing analysis, industry analysis, sustainable advantage, segment benefits, feasibility, and investment decisions of this MR opportunity that Magic Leap has identified. In doing this, the report has focused on some aspects like marketing strategies, sales strategies, business architecture, as well as Magic Leap’s management and ownership.

Background

Mixed Reality (MR), as opposed to Virtual Reality (VR), is harder to achieve let alone its implementation. In the VR technologies, all the users can see are synthetic images while the MR technology is more powerful as compared to both VR and Augmented Reality (AR) technologies (Kipper and Rampolla, 2012). While the VR technologies provide the digital recreation of the real settings, the AR technologies offer the virtual elements as being an overlay onto the real world (Buhrke et al., 2007). Therefore, it would be true to document that Magic Leap is taking a rather difficult step in trying to enter into the development of MR technology. Although Magic Leap has its competitors when it comes to the creation of the MR technology, it is the only company whose quality of the virtual visions surpasses all of those of its competitors (Schowengerdt, 2014). Since it is evidently in the lead in this light, many investors came in to invest in their development of the MR technology one of them being Google. Up to date, the total amount of money that has been funneled into Magic Leap amounts to $1.4 billion (Schowengerdt, 2014).