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The task
of founding corporations however is very intense and involves a
level of working knowledge on several subtasks. An understanding of
these subtasks is very essential to a successful development of a
venture. Very often, entrepreneurs run off to legalize organize a
new entity even before thoroughly appreciating the enormity of the
task that lies ahead. This should not been done. Instead the
entrepreneur should first and foremost undertake a thorough and
exhaustive analysis of the venture, that may be aptly described as
Vision Analysis.
Vision Analysis is perhaps the first and most significant of all
the subtasks and is a thorough understanding of the nature of the
innovation that the entrepreneur wishes to evolve to create the
assets of the vision. Failing to evolve a clear understanding of the
need to innovate is one of the sources of certain failure of
entrepreneur. The truth of the matter is that an existing
product-offered on which the entrepreneur does not innovate will not
enable the entrepreneur build a venture. To that end the
entrepreneur must have a firm grasp of the concept of innovation.
The rationale for this understanding is that the entrepreneur must
have a firm understanding of the cost of implementing the
vision/innovation;
and where
the cost of implementing the innovation should prove abortive then
the entrepreneur must redesign his vision as to reduce the cost of
vision realization to a manageable size. The entrepreneur therefore
must have a sense of analysis of the cost of the venture even before
he starts. Here then is being imparted an experience.
Summarily three dimensions of freedom or coordinates describe the
concept of innovation: Product Technology, Manufacturing Technology
and Marketing Tactics. The entrepreneur must assess each of these
three dimensions to understand what each dimension demands
financially to accomplish it successfully.
However, not all of these three dimensions singularly constitute an
axis each that is applicable to the given vision that is the subject
of an analysis. These known dimensions are simply fundamental
dimensions which may effectively constitute base three dimension
space, or may yet result in higher dimensional Euclidean Space that
is better suited for the analysis of the vision. The set of
dimensions that better suits the analysis of a specific vision is
itself developed through a
dimension-cluster
analysis of these three fundamental dimensions.
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These dimension-clusters analysis in general elicits the overall
number of dimensions along which the vision can evolve and can be
evolved. The task of the vision analysis then partly becomes the
analysis of the evolution of the innovation of the vision along each
dimension while taking into account the interactivity with the other
dimensions. A process execution management approach best suits the
task here, and the method of
Critical Path Analysis just seems to be the best approach. An
entrepreneur well-vested in another method may also employ such
method for the task of vision analysis.
Often
the dimension-clusters may form nested dimensional spaces within the
base dimensional space, and the innovation inherent in the vision
may be developed along several different paths, with each path
having a set of characteristic advantages and disadvantages coupled
with the obvious and so obvious financial burdens of implementation.
the critical path analysis approach effective enables the
entrepreneur to generates just about every possible permutation and
combination of vision development path each which can be thoroughly
analyzed in comparative setting of level playing field.
Of
course, the entrepreneur must construct a set of criteria on which
to base the critical path analysis. although the applicable criteria
in essence is vision-specific, some common criteria can nonetheless
be suggested as a base on which an entrepreneur can be the
vision-specific set of criteria. based on the consideration so far
the criteria that may be deemed generic to all vision include,
-
total
cost of development of vision-defined venture
-
cost of
creating and initializing the development-flagship dimension of the
assessed vision dimension-clusters
-
available funds for supporting the development-flagship dimension,
-
ease of
development-flagship dimension to attract either debt, venture or
mixed funds financing for the sustained development of the vision
along each path of the prospective venture development paths
network.
Onto
these are to be added the vision-specific criteria such as the
entrepreneur deems custom to the vision. Given the value-based
components of the evaluation criteria set, obviously the rather
simple minimal-maximal basis of optimization
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would be
inapplicable in this situation and the entrepreneur may have to
resort to more complex forms of constructs for the purposes of
elicited a well-informed result.
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