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Report Catalogue Data

  Report Class   General Public Report
  Analysis Type   The Entrepreneur
  Issue Category   New Venture Development
  Release Date   04_21_2008
  Last Update   02_23_2009
  Reference Code   GPR-TE.NVD.ME-20080421-VAx
Mind of the Entrepreneur
Vision Analysis


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.


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

  
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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