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Running head:ENTREPRENEURSHIP1Most Admired Technology Venture: GoProStudent NameInstitution
ENTREPRENEURSHIP2My Most Admired Technology Venture: GoPro Inc.1.Was the market addressed by the venture new or previously unidentified, or wasit known but not yet addressed satisfactorily? Explain.GoPro was previously known as Woodman Labs but then it changes its name to GoProInc in the year 2014. Earlier the company focused on making digital and still photography andcamera accessories. But as there was not much demand for action cameras as people were veryless fond of this technology and they prefer mobile for capturing photos and videos. Also, their tvads were not that much attractive to bring customers. But after this, they understand whatcustomer need, they made an attractive tv ad for hero 5 and Karma and also, they made changesin their camera now they have wide-angle cameras with world’s best action camera capability.[ CITATION Bur18 \l 16393 ]2.Is the venture’s product, process or service unique or an innovation, or was asimilar product offered previously but not effectively? Explain.After a couple of years of foundation, in 2006 go pro launched firs HERO in 2004 andgenerated a revenue around $150000. In the second year, the company made its first digitalHERO with video recording capability of 10seconds. This time generated revenue went to$800000. In the year 2014, GoPro launched HERO 3 which was the upgraded version of HERO.This time HERO 3 was capable of recording video at an aspect ratio of 16:9 and also it supports4k Ultra HD recording with still photographs of 12 MP. Now the latest model is GoPro HERO 6which is far more better than the previous model. Also, they have introduced a drone with thename of KARMA and this has changed the way GoPro was known earlier.[ CITATION Gra18 \l16393 ]
ENTREPRENEURSHIP33.Does the venture rely on a new or especially clever business model? Explain.There is a large-scale market business model that is followed by GoPro, in which there isno notable contrast between client segments. The organization focuses on its lines of cameras toany individual who needs to have the capacity to catch symbolism without holding the gadget intheir own hands. GoPro utilizes the Content Management Strategy as its business strategy itattempts to eliminate the basic purpose of managing content by enabling the customer toorganize content from the camera and to compose the content and empower proper editing andsharing. GoPro Studio and the GoPro application are the underlying periods of the managementof content platform strategy.4.Does the venture rely on a new or proprietary enabling technology, or is thetechnology in relatively widespread use? Explain.GoPro is a technology-based company which used to manufacture world’s best actioncamera, since its foundation of HERO, GoPro is using technology like software’s, GPS,gyroscope, compass and much more. Today go pro itself is a technological revolution and todayit’s among the world’s best action camera.5.Was the venture founded by a serial entrepreneur or by a first-time founder?Has the leadership changed since the venture was founded?The venture was founded by Nick Woodman in the year 2002. That time GoPro wasknown as Woodman Labs, Inc. Since its beginning, the leadership is under Nick Woodman.6.Did the venture beat all other key competitors in the market or was it a followeror even a laggard? Explain.