University Project: Analyzing Innovation in the Dance Industry

This project presents an in-depth analysis of an innovative entrepreneurial venture designed to revolutionize the dance industry. The core concept revolves around two key initiatives: The Profile Platform and The Sponsor Pool. The Profile Platform, encompassing a channel app and website, aims to provide dancers with a comprehensive digital profile to showcase their skills, achievements, and experiences, enhanced through a digital badging system. This platform is designed to capture and document the diverse learning and development activities within the dance community, which are often uncredited. The Sponsor Pool aims to create a sustainable funding model by connecting dancers with potential sponsors and providing them with a credible platform for formal sponsorship deals. The project includes a detailed business model canvas, exploring customer segments, value propositions, and revenue streams. It also conducts a feasibility analysis, assessing product/service, industry/target market, organizational, and financial aspects. The project also examines market timeliness, competitive comparisons, and overall financial attractiveness, offering a comprehensive business plan for the venture's implementation and growth. The project is designed to address the lack of formal recognition and financial support in the dance community, offering a solution that benefits both dancers and potential sponsors.

Running head; ORGANIZATIONAL CREATIVITY AND ANALYSIS
Organizational Creativity and Analysis
Name of the Student:
Name of the University:
Author’s Note

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ORGANIZATIONAL CREATIVITY AND ANALYSIS
Table of Contents
Feasibility Analysis.........................................................................................................................2
Product Analysis..........................................................................................................................2
Target Market..............................................................................................................................2
Benefit/Value...............................................................................................................................2
Competitive Positioning..............................................................................................................3
Management Teams.....................................................................................................................3
Porter’s Five Force Model...............................................................................................................3
Industry Attractiveness....................................................................................................................5
Target Market Attractiveness..........................................................................................................7
Market Timeliness...........................................................................................................................9
Financial Feasibility.......................................................................................................................10
Conclusion.....................................................................................................................................11
Reference.......................................................................................................................................12

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ORGANIZATIONAL CREATIVITY AND ANALYSIS
Feasibility Analysis
Product Analysis
In this modern, the dance form has changed significantly, and some new dance forms
have come into place. The introduction of Hip Hop style, Locking and Pop styles of dance have
captured the imagination of younger generation. In recent times, the culture is changing and the
media and music which people follow are also changing drastically (Gai & Steenkamp, 2014).
The generation nowadays are more attached to hip-hop, pop and rap form of music and the dance
style which is followed for such kind of music is also new such as B-boys, break dancing,
locking are some examples. Therefore, it can be said that the services provided by the business is
feasible considering the interest of the younger generation and vast changes which are coming in
dancing style. These cultural events require appropriate funding and the business aims to provide
innovative ideas
Target Market
The target market of the business is the younger generation which are boys and girls from
the age of 10 who want to learn the modern dancing style. The hip-hop dance company aims to
provide such candidates proper exposure and a chance from learning the selected dance form
from best professional available. The target market will be attracted with the help of
advertisement and also by showcasing the dance style in an exhibition.
Benefit/Value
The benefit of the service which is provided by the business is related to an advancement
of the new culture among the people. The services provided by the business also helps in
spreading the modern dance forms and thereby ensuring that the new generation gets what they

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ORGANIZATIONAL CREATIVITY AND ANALYSIS
want out of dancing. In addition to this, the modern hip-hop style or urban dancing style involves
lots of quick movements and stamina and therefore it is one of the best ways to keep an
individual fit.
Competitive Positioning
The business plans to provide dancing lessons to candidates and also provide such
candidates with appropriate exposure. The modern dancing style and the Hip-hop style cannot be
learned by individuals or even cannot be taught by parents. In the market, a lot of businesses
have been established providing the same services and therefore, it is clear that the level of
competition in the market is high (Doherty & Terry, 2013). The plan of the management of the
company in regards to making the services different from its competitors not only provides
services with respect to dance but also organize and conduct competition in order to sharpen the
skills. The company will also provide appropriate exposure to the candidates and provide better
opportunities to the dancer to built a career out it if the candidate so wishes (Horta & Camanho,
2014). The management of the business also has an opportunity for innovation by introducing
the badging system.
Management Teams
The management teams of the company will comprise of senior most management which
will be the owners and senior executives. Then there is the middle level management who are the
instructor, supervisors, support staffs, choreographers and health experts. The lower level
management would be the clerks, cleaning staff and other support staffs.

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ORGANIZATIONAL CREATIVITY AND ANALYSIS
Porter’s Five Force Model
The analysis of the external environment and the market of the business porter’s five
force model is conducted.
 Bargaining Power of the Customers: The customers of business are dancers who
associated with the business for classes, competitions, group performances and similar other
activities. There are not many businesses in the industry which provides such services to
customers and therefore, the bargaining power of the customers are low. Another reason is
that the product which is offered by the business is not dynamic in nature and therefore, it
can be switched easily by customers.
 Bargaining Power of Suppliers: The suppliers of the business are in a position for
bargaining which can be mitigated by establishing appropriate relationship with suppliers.
The suppliers provide the business with appropriate platform and therefore, the bargaining
power of the suppliers is high.
 Threat of New Entrants: The venture has innovative approach in respect of collecting
funds in the form of Sponsor Pool and the business is looking attractive and therefore the
new entrants would be interested in the concept. The low costs of membership in such
industry can further encourage the new entrants (Dobbs, 2014). In the industry barrier can
be established by getting patents rights which would make it impossible to imitate products
offered by other businesses in the industry. Another method pf creating barriers to entry is
by differentiating the products offered by businesses in the industry.
 Industry Rivalry: As per the recent situation in the market, there are not many businesses
in the industry which provide such products and therefore the rivalry in the industry is low.
The market is rapidly growing and therefore the few businesses which are already

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ORGANIZATIONAL CREATIVITY AND ANALYSIS
established in the industry do not necessarily need to compete for market share. The
competitors in the market is very much limited and therefore, the overall level of
competition in the market will be low.
Industry Attractiveness
The attractiveness of the industry can be appropriately determined with the help of
Industry attractiveness tool which is shown below:
Low Potential Moderate Potential High Potential
Number of
Competitors
Many Few  None
Age of Industry  Old Middle aged Young
Growth Rate of
Industry
Little or no Growth Moderate Growth  High Growth
Average Net income
for businesses in the
Industry
Low  Medium High
Degree of Industry
Concentration
Concentrated  Neither
Concentrated
nor
Fragmented
Fragmented
Stage of Industry Life Mature Phase or  Growth Phase Emergence Phase

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ORGANIZATIONAL CREATIVITY AND ANALYSIS
Cycle Decline Phase
Importance of
Industry’s Product or
Service to Customers
Ambivalent  Would You
like to Have?
Must Have
Extent to which the
business and
environment trends
are moving in favor
of the Industry.
Low Medium  High
Number of Exciting
new Products and
Services emerging
from the Industry.
Low  Medium High
Long term Prospects Low Medium  High
The above table shows the attractiveness of the Industry and shows that overall level of
competition in the business is high. The business is also at its growth phase and the culture is
also appropriate for expansion. The business also has long-term prospects and is considered to be
helpful for individuals (Hair et al., 2015). The company tends to provide support to dancers and
their families in financial terms and also help such dancers to develop their future effectively.

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ORGANIZATIONAL CREATIVITY AND ANALYSIS
The business intends to held exhibition and competition with the help of which talents will be
recognized and proper exposure can be provided to talented individuals.
Target Market Attractiveness
The target market of the business are normally the teens who are mostly attracted towards
developing a hip-hop style dances and plus dance groups and teams are also potential targets for
the business. The target market attractiveness tool which is shown below would help the
management to develop an appropriate target market assessment:
Low Potential Moderate Potential High Potential
Number of
Competitors in Target
Markets
Many  Few None
Growth Rate of Firms
in Target Markets
Little or no Growth Slow Growth  Rapid Growth
Average Net Income
for Firms in Target
Market
Low  Medium High
Methods for
Generating revenue
in the Industry
Unclear Somewhat Clear  Clear
Ability to Create Unable to Create May or May not be  Can Create

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ORGANIZATIONAL CREATIVITY AND ANALYSIS
Potential Barriers to
Entry for Potential
Competitiors
able to Create
Degree to which
Customer feel
satisfied by current
offerings in the target
market
Satisfied Neither Satisfied nor
Dissatisfied
Dissatisfied
Potential to Employ
low Cost guerrilla
and/or buzz
marketing techniques
to promote the firm’s
product or services
Low Medium  High
Excitement relating
to new
product/Service
offerings in the target
market
Low Medium  High
The above table shows that the new style of dance has significant response from the
society and therefore there is a high probability of growth in the target market of the business.

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ORGANIZATIONAL CREATIVITY AND ANALYSIS
The method of generating revenues from such is through competition, grants from governments
and there is a wide range of scope and the company also aim to appropriately promote the
candidates and also provide them with appropriate exposures. The hip-hop dance and modern
dance forms are getting a lot of buzz in the market and among the target market and therefore,
the business seems to be feasible.
Market Timeliness
The market is favorable for the such a venture as the market condition allow the business
to effectively and for the purpose of making assessment for a target market, target market
assessment tool is shown below:
Low Potential Moderate Potential High Potential
Buying Mood of
Customers
Customers are not in
Buying Mood
 Customers are
not in
Moderate
Buying Mood
Customers are not in
Agressive Buying
Mood
Momentum of the
Market
Stable to Losing
Momentum
 Slowly
Gaining
Momentum
Rapidly Gaining
Momentum
Need of a new firm in
the market with your
offerings or
Low Medium  High

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ORGANIZATIONAL CREATIVITY AND ANALYSIS
geographical location
Extent to which the
business and
environment trends
are moving in favor
of the target market
Low Medium  High
Recent or planned
entrance of a large
firm in the market
Large firms entering
the Market
 Rumors that a
large firm
may be
entering the
Market
No large firm entered
the Market or
Rumored to be
entering the Market
The above table shows that the buying mood of the customers are moderate as the project
is still at is developing stage. The momentum of the business is showing development and slowly
growing. Therefore, it can be said that the overall momentum of the business is appropriate.
Financial Feasibility
Particulars Amt$ Amt$
Property $ 200,000.00
Furniture and Fixtures $ 100,000.00
Computer Equipment $ 10,000.00
Other Equipment $ 50,000.00
Vehicles $ 2,000.00
Legal. Accounting and Professional Services $ 3,000.00
Advertisement and Promotion $ 5,000.00
Deposits for Utilities $ 2,000.00

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ORGANIZATIONAL CREATIVITY AND ANALYSIS
License and Permits $ 3,000.00
Prepaid Insurance $ 4,000.00
Lease Payments $ 5,000.00
Salaries and Wages $ 20,000.00
Payroll Taxes $ 2,000.00
Travel $ 10,000.00
Tools and Supplies $ 4,000.00
Starting Inventory $ 10,000.00
Total Initial Cash Required $ 430,000.00
The above table shows initial cash requirement of the business and the same is shown to
be $ 430,000. The above estimates which are shown in the above table are taken on the basis of
estimation. The wages are taken on the basis of estimation and the average number of employees
which will be taken into employment is considered to be 10 employees and the average wage
rate is considered to be $ 2,000. The initial assets requirement of the business is shown to
comprise of vehicles, machinery, equipment and other assets.
Conclusion
Thus, from the discussion which is conducted in the above paragraphs the innovative
strategy of the business is appropriate and feasible in nature. The market is also shown to be
favorable and the industry is attractive in nature. The target market of the business is also shown
to be favorable and there is appropriate buzz in the market for the product which is offered by the
business. The initial cash requirement of the business is shown in the table above and the
business would be requiring certain resources in order to appropriately run the business.