Entrepreneurship And Innovation : Jim Poss Case Study Essay

977 WordsFeb 10, 20164 Pages
Kohl Kriewall Entrepreneurship & Innovation Jim Poss Case Study Jim Poss, a resourceful young entrepreneur from Duke University, recognized the world moving towards a greener future at an early age. With his knack for inventing and background in environmental science, Jim worked towards his goal to create an energy efficient trash compactor. Along with some similarly minded partners on board, their intelligence and determination paid off and granted them success in their venture, Seahorse Power Company (SPC). New businesses come with hurdles, yet Jim Poss and his team proved to have the strength to overcome them. Apply the Timmons entrepreneurship framework (entrepreneur-opportunity-resources) to analyze this case. From the start of Seahorse Power Company, Jim recognized the growing need for environmentally friendly devices and seized this opportunity. Like some of the other case studies we have gone over in class, his engineering start-up executed a solution to a problem. In this case, he exploited the problem of this society’s major dependence on oil. Seahorse Power Company worked towards creating an economically viable solar trash compactor. To capitalize on this green opportunity, Jim started off by working on an independent study to examine the trash industry. His findings proved major companies were spending way too much money on trash removal, and Jim and his partners soon began chipping away at their venture. Indeed, The Timmons framework explains that all three

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