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- Capabilities: Extensive Social Media Experience- I am currently the social media director for my sorority, and managed a cosmetic company’s Instagram account with over 200,000 followers this past summer as apart of my internship.
- Valuable: this skill is extremely valuable in this day and age, you must understand your brand and post accordingly to your demographic to achieve the most outreach.
- Rare: I don’t think this skill is necessarily rare, but some people do this better than others and I have been trusted to run some pretty important social media accounts.
- Inimitable: this capability is able to be imitated, as soon as someone thinks of something new and cool, many people copy it.
- Non-substitutable: I could find someone with similar capabilities to do this in my place.
- Social Capital: Personal Relationships with Influential Individuals- Within my network I have developed close with relationships with individuals who have significant weight in a variety of market sectors.
- Valuable: this capital has been very valuable to me in the past, helping me acquire positions and meet other individuals who can help me.
- Rare: this I believe is quite rare because my network and my relationship with these people are not one another person could have. Some may have better, others worse, but my specific position is rare.
- Inimitable: As stated before, I believe this particular social capital would be hard to imitate only because everyone has different relationships with others.
- Non- Substitutable: there could be other resources (contacts) who could provide the same benefits but they would all be different.
- Publicity- Although the topic is not one that is typically “popular” in the media. Many people have been effected or have lost loved ones due to head injuries and could closely relate.
- Valuable: I think relating to and keeping in mind victims of serious head injury caused by bicycle or scooter accidents is key. By appealing to the pathos of our customers we can succeed.
- Rare: I believe my product and the damage it is trying to prevent is a bit rare. Although a common need, it is not one people often think of or one that is talked about in the media.
- Inimitable: My product is imitable and the cause is as well.
- Non-Substitutable: Other resources like helmets do provide the same benefits as my product, but my product came about because of the need for something better / more practical.
- Social Capital: Greek Life- Greek Life at the University of Florida Florida has such a large presence that it is hard to ignore. Politicians knowing this fact, use fraternities and sororities to promote their campaign and more times then not they win. I am on the executive board of my sorority, majority of the people I know at this school are a part of greek life. I have a lot of pull in this sector.
- Valuable: In the beginning stages of my product launch this social capital will be vital.
- Rare: As a member on the executive council of a well-known sorority, I consider my station as pretty rare. I have over 200 girls on my side in my sorority alone, and that doesn’t include the other great girls and boys I have met through greek life.
- Inimitable: While there are obviously men and women with the same kind of connection to greek life as me, I think it would be difficult to imitate if you were not involved in greek life yourself.
- Non-Substitutable: I dont think that there is anything else like this on campus, I truly do not believe that another source could provide the same benefits.
- Social Capital: Engineers at UF- my best friend is an engineering major at UF, and when I talked to her she said her classmates and professors could potentially be of great help.
- Valuable:
- Rare:
- Inimitable: This could be imitable by people with connections to engineering students at any University.
- Non-Substitutable:
- Financial Capital: A good credit score and contributions from friends / family.
- Valuable: With a good credit score I will easily be able to obtain loans, and with contributions from my family I can fund my product.
- Rare: This is not necessarily rare but valuable.
- Inimitable: This is not inimitable.
- Non-Substitutable: Other resources could provide mw with the funds I need to have my product succeed but these are the easiest.
- Capabilities: Organized
- Valuable: This skill is valuable because I believe a lot of planning goes into the success of a company. Especially, an entrepreneurial effort.
- Rare: This skill is not rare, but not everyone is organized.
- Inimitable: This trait is imitable.
- Non-Substitutable: Someone else could be hired to organize the whereabouts of a company.
- Human Capital: Personable
- Valuable: I think this is one of the most valuable traits for an entreprepanur to have. By being an approachable and relatable person you can make vital connections and build up trust with your employees.
- Rare: There are many people who are personable, but remaining humble and positive in times of adversity is difficult.
- Inimitable: This trait is imitable.
- Non-Substitutable: A company needs a figurehead, someone they trust and believe in. This could be substituted but If I continued with this venture I would want to be the best person I could be so that I could fill this role.
- Capabilities: Creativity- One on my core strengths is my ability to create and design.
- Valuable: I think this skill is extremely valuable because there is big difference in being able to create a graphic and being able to come up with the concept and actual design. This could help me in aspects of the design of the hat, the online media pushes, the website, and store itself.
- Rare: This is not a skill everyone possesses, and even if they do everyones creativity differs.
- Inimitable: Since it is my own designs and creative thinking it is inimitable.
- Non-Substitutable: The resources, people could be hired to do this work but it would not be the same.
10. Support of Organizations-
- Valuable: By gaining support from organizations of trauma victims or families that have lost their loved ones to this issue, I could gain valuable support.
- Rare: I feel like there are not many alternatives to helmets that could help reduce the number of head injuries, so it is quite rare
- Inimitable: I feel as though similar companies have not focused much on groups of head trauma victims and survivors.
- Non-Substitutable: I think support from outside organizations like the ones mentioned would be hard to substitute.
My top resource is my social capital as a result of my connection to greek life. I think this stands out above the rest because of the leverage I have and how vital I think it could to get this product off of the ground.
Hi Emily,
ReplyDeleteIt seems as you have many valuable resources that could benefit you in this venture. I had some similar resources as you like UF Greek Life. I also labeled that as my top resource. Some people may not believe that being involved in Greek Life is good from a professional standpoint, however I have come to learn that the networking gained from it is super valuable for my career.