Assignment 1 Makerbot case study MSCI 602 Spring 2015 Nissrine Nadmi to Mina Allarkhia Question 1 The entrepreneurial root of a venture like MakerBot or Tesla is pivotal in innovative strategies required by any venture to enter a new market, become viable and eventually leading the market. To break into a new market, it is inevitable that entrepreneurs would be faced with extreme competition from other minor and major market players and other unknown threats. To prepare for these eventualities, it is essentially that the entrepreneurs should have in-depth knowledge of the existing market, the customerbase within the market, understand the customers’ needs and how best to satisfy these needs. A …show more content…
It was their collective deep passion that gave birth to MakerBot. They all have common root and entrepreneurial ancestry in computer networking, hacking and virtual computing which is a major competitive advantage over others within the industry. With this business portfolio, the founders of MakerBot already familiar with the business terrain of the industry and also knew well in advance the challenges that lay ahead for them. It therefore becomes easier to tackle make correct decision on effective strategies. Highlight key examples. In essence, MakerBot has significant economies of scale over other companies within the industry as a result of its competitive advantage which was due to the entrepreneurial root of the company so it had capacity to enter a new market or technological arena as a result of the prior knowledge of the founders with the industry. As a way of illustration, MakerBot was established in 2009 with a vision to empower hundreds of thousands of customers to use open-source platform to power 3D printing and by 2012, more than 10,000 units of the company’s products had been shipped. While supplying units as much as 10,000 is enough compelling reason to believe that MakerBot has the capacity to enter a new market or break even in a new technological frontier, the company’s further performances laid
It is essential to plan carefully how to approach and make the pitch to customers. Careful preparation can help to demonstrate how the product will benefit the customer, handle any objections and close the sale.
2. Determine the need for the new product or service. Next, provide an overview of the market you intend to enter, and defend why this market is ripe for the introduction of this product or service at this particular time.
Successful firms capitalize on economies of scale & scope, create management structures and invest in research & development
2. Determine the need for the new product or service. Next, provide an overview of the market you intend to enter, and defend why this market is ripe for the introduction of this product or service at this particular time.
It is very clear that it takes more than great ideas in order to stay on top in the technology arena. Competition is never ending and sometimes a company can spend more time keeping the competition away then improving on their vision. The videos “Browser Wars” and “Search” conveyed that as young upstart companies worked to get their ideas out into the marketplace.
There are a few pressing matters regarding the impact of 3D printing on society including security risks and accountability when a tragedy occurs as a result of manufactured items. However, 3D printing has a beneficial impact in different fields. One positive impact of 3D printing is the new industry software developers can pursue since there is a need to build and maintain user friendly software for 3D printing. 3D printing also reduces the time to necessary to
General Motors incorporates entrepreneurship and innovation into its business objectives. This is evident in General Motors Vision statement which states that its goal is to “lead in advanced technologies and quality by creating the world’s best vehicles”. (1) For instance General Motors has an extensive R & D, Design, and Engineering department that oversees the creativity, innovation, and invention of its strategic technologies and innovation programs which are aligned with its corporate vision. In order to lead in advanced technologies of the world’s best vehicles General Motors incorporates entrepreneurship and innovation concepts, which are essential to competing in the global market place.(2) In the spirit of entrepreneurship, which
The 3D printing industry had a little controversy. This controversy revolves around a small start up in the Allentown, PA area called “Just3DPrint”. Company is founded by four college students who had a dream, “offer 3d printing services”. The controversy does not revolve around their printing service, but it involves two powerhouses, Thingiverse; a website that allows 3d modelers to share their creations for “free” in a non-commercial manner and Ebay, the largest auction website in the world.
3D printing technologies are changing the way we produce objects. 3D printing is part of a process known as an additive manufacturing, where an object is created by adding layer by layer. Additive manufacturing allows designers create complex parts for machines.
Makerspaces lead to what Holman explains as a “digital fabrication and a decentralized workforce,” which entails several makers with unique thoughts drive the industry. Even so, Crawford remarks that craftsmanship returning to production will lead to diverse methods of employing the makers’ workforce, as the maker’s focus is on their individuality. Small businesses are carrying the profitability of Makerspace innovations, as many are shifting to specified markets. For example, OpenDesk is openly entering competition with the McDonaldized corporate giant, IKEA. Small businesses lack the capability of big companies to keep up with the demand of the total market, create a streamlined manufacturing process, and maximize profits in every way possible. Democratizing Makerspaces will reverse rationalization as it will lead to the break-up of manufacturing and creating less division between small businesses and corporate giants.
In Gershenfeld’s When Things Start to Think, the ultimate way for technology to reach full potential of personal fabrication is through simplicity of structure, as well as efficiency in its ability to create anything. Gershenfeld (1999) states, “big companies use big machines to make things we may not want” demonstrating the unnecessary need for elaborate high cost technology to give society the things they want and need. With these big companies and their machines being the only means to acquire merchanise, it makes it difficult for others to see a different way in obtaining these products in a more basic way. Gershenfeld (1999) provides through research an example of a “3D printer” as an alternative route in cutting out the middleman to establish
3D Systems heavily relies on outsourced supplies to achieve its print obligations. The company outsources printer assembly and refurbishment services from selected suppliers and engineering companies with a good reputation. The suppliers play a critical role in carrying out the required quality control initiatives prior to shipment.
As 3D printers are becoming live in the market, they demonstrate great potential by fostering economic growth. The implications of this revolutionary technology indeed promise to have a radical impact on the may things are produced and business is done. There are
Tesla motors is one of the silicon based firms which normally design, manufactures and also sells variety of electric cars as well as other electric vehicle components and accessories. It is one of the public companies which trade on the famous NASDAQ market stock exchange. The company was found to make some huge profits for the first time after a period of ten years of trading. This took the development of effective leadership skills and tactics as well as significant corporate strategies that were oriented towards boosting the success of the firm by way of making it gain the necessary
Existence of barriers to entry are low Few new firms can enter and non-performing firms can exit easily 3D printing will lower barriers to market entry and will enable innovative start-ups to target the market using crowd-funding.. Free R&D also dramatically lowers the barriers to entry.