UNIT 4: Formalities

of launching a new
Venture

- Types of startup ideas.

- Using innovative thinking to
generate business ideas.
- Internal and External Analysis to
identify business ideas.
 What is
Startup?
 A startup generally refers to a
small business that is in its
initial stages of operations.

 Startups are founded by a

group of people or by a single
person where they aim to
provide a product or service.

2
 Types of Startup
Ideas
Type A Type B Type C

New Market New Technology; New Benefit

Ex: targeting the Ex: Using drones to Ex: Improving the
spray chemicals quality of Cameras in
' New Age ' the smartphones Or
beverage market filled with
For food product one of
by selling soft pesticides in the the ingredients may
drinks with field of be changed to
nutritional value agriculture improve the taste

3
USING INNOVATIVE THINKING TO
GENERATE BUSINESS IDEAS
1. Begin with a problem in mind.

2. Recognize a trend.

3. Borrow ideas from existing products and

services.

4. Follow the new technologies.

5. Adapt a product or service to meet

customer needs in different ways.
4
 Internal and External Analysis to
identify Business ideas
 Inside-Out
Evaluate their own capabilities and then look at new
products or services they might be able to offer the
market.
- Resources
- Capabilities
- Core competencies

 Outside-In
First look for needs in the market place then relate those
opportunities to their own capabilities.
- General environment
- Industry setting
- Competitive environment 5
 Inside-Out
 Resources – These are basic inputs that a firm uses in its business including cash for
investment, useful technologies, access to equipments, capable employees, etc.

 Capabilities – These are best viewed as the integration of various resources that
boosts a firm’s competitive advantage. Resources cannot provide competitive
advantage until they are bundled into some useful configuration.

 Core Competencies – This refers to the capabilities, resources, knowledge and

skills that constitute the firm’s defining strength.

6
Segments of General Environment

7
Industry Settings

8
 Competitive Environment

 Who are the new venture’s current competitors?

 What resources do they control?

 What are their strengths and weaknesses?

 How will they respond to the new venture’s

decision to enter the industry?
Thank you!
Group 6…
Krishnapriya Agrawal (18)
Muskan Dewani (24)
Purvi Kothari (29)
Riddhi Gourshettiwar (31)
Smriti Pakki (35)
Vaishnavi Patrikar (36)
Vansh Lanjewar (75)