List of resources
1) Servant culture
VRIN-It is valuable because we live in an age of entitlement and self-service. Taking the opportunity to serve, and truly enjoying it, is a pure expression of love for those being served. It's rare because in the moment it seems better to receive than to give, and people follow this path as a result. Contrary to many business ideas, I would encourage other people/companies to follow suit. I would say the idea is not inimitable, and that's A-ok.
2) Financial capital
VRIN-Money is valuable, and no business can flourish without it. I would not see my business idea being a way of getting rich. While it would hopefully provide a living, but no one in the company will be driving Bentley's. In that sense, money may be rare! Again, this aspect is not inimitable and not non-substitutable.
3) Gov't subsidies
VRIN-Gov't subsidies would be valuable because due to the nature of my idea, and mission, it would not be super profitable on its own. It would be very helpful to possibly attain Non-Profit status. I don't really know how "rare" it would be. It would me semi-unimitable/ non-substitutable, but churches and other similar organizations could theoretically provide support.
4) Community support
VRIN-It would be immensely valuable to have the backing of the community. Having their support would mean loyal customers, as well as understanding and support for the cause. I think it's pretty rare. Most businesses, especially restaurants, have support from the community in so far as they continue to enjoy the product, but having support for the mission is pretty rare. It's not necessarily imitable or non-substitutable, but it's not super common.
5) Permanent need (food)
VRIN-This is valuable because it means continued business. This is not rare. It is inimitable in the sense that nothing is going to replace food.
6) Human capital/engagement of those involved
VRIN-this is both valuable and rare in the work environment because many people go to work for the paycheck alone and feel no connection to the work. This does not make for efficiency or innovation. The value of having engaged employees is inimitable and non-substitutable.
7) Trusting atmosphere amongst employees
VRIN-this is valuable because it builds an atmosphere of trust and community, so people at the company have each other's backs. it's rare, inimitable and non-substitutable in a similar way to engagement of those involved.
8) Sense of greater purpose for everyone involved
VRIN-It's valuable because when there is a greater sense of purpose, people are willing to go the extra distance that they would not normally be willing to go. This is obviously rare, but inimitable and non-substitutable for an idea such as this.
9) Social capital
VRIN-It's valuable to have personable people involved in your company to spread the word. Everyone "networks" these days so it's not rare, but it is hard to replace good PR.
10) Encouragement of competition
VRIN-Whereas many companies want to be the only ones in the market, I feel that if my idea caught on and competitors popped up, it would benefit every community in which such an establishment was. More competition would essentially mean more service, kindness, and community, which unfortunately are pretty rare these days, but certainly inimitable and, in the long run, non-substitutable,
No comments:
Post a Comment