MBA 5010 Week 5 Assignment (Rev 2)
The weekly assignments are intended to be completed individually. It is important in an online program that you pay careful attention to when it is and is not appropriate to work with peers. Misunderstandings can have significant consequences. By submitting this assignment, you are attesting that you completed this work without assistance from another current or former student of this class. Exceptions can be made for tutors, but only with prior consent from your instructor.
Your answer will be evaluated based on correctness, completeness, and clarity. Be attentive to your writing. You have until midnight CST Sunday to submit both parts of this assignment.
Part A (25 points)
Re-frame each statement as a more appropriate value creation-oriented question that might lead to a marketable opportunity. And then suggest a creative response.
Example – I’ve been playing banjo my whole life. I’d like to quit my job and devote myself to playing.
Response – Is there an untapped market for unique entertainment that a banjo player might fill?
Possible answer – It’d be memorable entertainment at events (e.g. art openings, birthdays, etc) so long as it wasn’t distracting.
Question 1 – I want to have my own company so I can leverage my creative talent at cake decorating.
Question 2 – There’s an empty store front across from the grocery. I’ve always dreamed of owning my own karate studio.
For each of the following products, articulate the full value proposition. It doesn’t have to be one used by the actual company. So, take whatever license necessary to demonstrate you understand the components of a strong value proposition.
Example – Samsung phones
Value Proposition – Consumers are on the go in a world that also demands ever-increasing connectivity. Samsung phones provide the highest-speed connectivity available with an easy to use interface all at an affordable price.
Explanation – The problem faced by their market is the perceived need to “keep up” without spending exorbitant amount of money on a phone. By highlighting “highest-speed” and “affordable price”, the message also differentiates the Samsung solution from that of competitors.
Question 3 – Anheuser Busch’s Bud Light
Question 4 – Target Stores
Question 5 – The new Tesla Truck
Part B (25 points)
This week you are to complete a fully complete draft response to the following questions. You are to complete this draft without assistance from either current or former MBA 5010 students. This draft response will be evaluated on completeness and clarity but not graded for content. Next week you’ll be given an opportunity to collaborate with your peers to complete a final response.
In week 1, we analyzed the sharing economy. This week, you’re going to build on the knowledge you gained. Your assignment is to deconstruct the economics underlying AirBnB. Specifically, I want you to answer the following questions:
What resources are being shared?
What is the opportunity cost of the resources “consumed” to facilitate this sharing?
How does this create value for customers?
Does the value created for customers outweigh the opportunity cost of the resources consumed?
Does AirBnB capture a sufficient amount of any value generated to remain a viable business?
The purpose of this question is to provide you an opportunity to demonstrate your understanding of the economics of value creation. So, emphasize this aspect of your answer. Shoot for 500 words, although no one is going to count so long as you’re close.