Entrepreneurial Venture Analysis: Applying EIM Course Concepts

This case study provides an analysis of an entrepreneurial venture's lifecycle, applying key concepts from an Entrepreneurship and Innovation Management (EIM) course. It delves into stages such as business opportunities, ideation and testing, business model generation, resource acquisition, management, and execution. The analysis incorporates the identification and assessment of business opportunities, frameworks for turning ideas into products or services, measuring customer response, and learning from these interactions. Furthermore, it explores effectuation and stages for funding a start-up, drawing upon topics discussed in the EIM program. The study also touches upon John Mullin’s Seven Domain Model, its strengths, weaknesses, challenges, and opportunities, proposing improvements to enhance revenue streams and resource generation. Additionally, it covers technological concepts like traditional development and Process Driven Server Integration, as well as trends such as Human Process Management and Adaptive Case Management, linking them to innovation theories encompassing stages like confirmation, implementation, and decision-making.

Entrepreneurship And Innovation
management

Table of contents
 John Mullin’s Business model
 Strengths, weaknesses, challenges and
opportunities of the business model
 Proposal for improvement
 Concepts and frameworks based on the business
model
 Technological concepts and trends
 Innovation theories

John Mullin’s Business model
 John Mullin introduced Seven Domain Model
 The model comprise of seven key factors (Denzin and Giardina, 2018)
 The seven key factors helps to plan and evaluate a new venture
 The model helps in separating the planned activities into seven
domains
 The domains are based on market, industry and team domain.
 The domains are based on micro and macro level

Mullin’s business using Canvas
business model

Strengths, weaknesses, challenges and
opportunities of the business model
 The significant strength is its opportunities to generate capability in customers
 One of the strength is that this model generates value proposition for the
customers
 Another strength is that this model strengthens the relationship with the
customers be delivering value to them
 One of its weaknesses is it is a non-standardized and broadly identified model
 One weakness is the increase in the number of ways to generate revenue
streams for the business
 It requires validation for data and science
 It provides with the opportunity to tap into big data services and domain
 Its threat is lack of concentration from the resources

Proposal for improvement
 The ways of revenue stream and resource generation needs to be
enhanced
 It needs to improve its equity financing
 It requires to increase the rate of changes in regulation
 It needs to validate its data and science
 The model requires to improve its disruptive technology
 It must standardize its model
 It must remove uncertainty and carbon data error
 It is needed to establish potential blind alleys

Concepts and frameworks based on the
business model
 Its concept involves attractiveness and benefits at the micro level
 It also includes market attractiveness that addresses macro level
 The framework includes evaluation of idea
 It also involves market analysis related to macro and micro level
 It is also engaged with industry analysis based on macro and micro
level

Technological concepts and
trends
 The technological concepts consist of traditional development
 Another concept is Process Driven Server Integration
 The technological trends possess Human Process Management (Hitt
and Duane Ireland, 2017)
 Process case Management is determined to be another technological
concept
 Adaptive case Management is regarded as a technological trend
 Technological concepts includes direct communication technologies

Innovation theories
 The innovation theory comprise of five stages
 They are confirmation, implementation, decision, persuasion,
knowledge and namely
 Its categories includes early majority, innovators and early adopters
 The theories consist of attitudes, subjective norms and behavioral
intention
 It demonstrates its positive and negative effects
 All the stages are interlinked with each other

References
 Denzin, N.K. and Giardina, M.D., 2018. Introduction.
In Qualitative Inquiry in the Public Sphere (pp. 9-
22). Routledge.
 Hitt, M. and Duane Ireland, R., 2017. The
intersection of entrepreneurship and strategic
management research. The Blackwell handbook of
entrepreneurship, pp.45-63.