You must perform additional research in the LIRN and have at least two references in addition to the course text book.
The paper must have in text citations.
#1: Spend some time looking at Blue Apron,
First discuss the background of the company and then answer the following questions:
#2: Based on the material covered in chapter 3, what questions would you ask the firm's founders before making your funding decision? What answers would satisfy you?
#3: If you had to make your decision on just the information provided in the pitch (Page 100 in your textbook) and on the company's website, would you fund this company? Why or why not?
#4: What are five actions Blue Apron could have taken when completing its feasibility analysis that would have been particularly helpful in supporting its business model?
#5: What are some of the entry barriers a firm would have to deal with and try to overcome if it tried to compete against Blue Apron?
#6: Based on the material covered in unit 1, why do you think Blue Apron has been so successful?
#7: Describe and discuss Blue Apron's business model based on material covered in chapter Three.
#8: How important to Blue Apron's business model are information systems and technology?
#9: Do you think Blue Apron used a standard business model or a disruptive business model?
Introduction A thesis statement Purpose of paper
Overview of paper Body Below is a recommended outline: Introduction A thesis statement Purpose of paper Overview of paper Body (Cite sources with in-text citations.)
Conclusion - Summary of main
OVERVIEW: Blue Apron Web: www.blueapron.com Facebook:
Idea: Launch a service that provides ready-to-cook meals with premeasured ingredients and cooking instructions. Deliver the ingredients directly to customers' homes in refrigerated boxes.
Pitch: Many people enjoy cooking but do not have the time and expertise to cook elaborate meals. People also tire of restaurants, takeout meals, and quick meals at home. Even people who have time to do the actual cooking often don't have the time it takes to find a recipe, shop for the ingredients, and then cook the meal. This is a frustrating reality for people who enjoy cooking and spending time in the kitchen. Blue Apron was founded to address this problem.
It is a weekly subscription service that delivers to its customers a refrigerated box each week that contains the ingredients and cooking instructions for three fresh meals. For Blue Apron, each week involves four steps.
First, its recipe team brainstorms meal ideas, drawing inspiration from restaurants, cookbooks, and anywhere food is served. Second, the company sources ingredients, mostly from local family-owned businesses.
Third, they test cook the meal and, if it takes more than 35 minutes to prepare, requires advanced skills, or needs utensils that wouldn't be found in a normal kitchen, it gets cut from the roster.
Finally, if the meal makes it, it is put in the queue for Blue Apron customers. From the customer's standpoint, Blue Apron offers six meal choices each week.
The customer picks three. The meals arrive in a refrigerated box once a week. The meals cost $9.99 per person, per meal. So, for two people the box would cost $60 per week.
The box includes premeasured ingredients for each meal. Also inside the box is a card featuring step-by-step instructions with photographs of how to prepare and cook the meal. Each recipe serves two people.
Along with providing people a way to quickly prepare fresh meals, Blue Apron's aim is to introduce people to new things. The company rarely repeats a recipe.
The company's name is a tip of the hat to cooking tradition in that in the culinary world, beginner cooks wear blue aprons while more experienced chefs wear aprons with black and white stripes.
In recent years high profile chefs have set aside the tradition and have donned the blue apron, in recognition that cooking involves a lifetime of learning. Blue Apron has distribution centers in New York and Northern California.
It currently ships approximately 17,000 meals a month. The firm's products are available in 80 percent of the United States. 3-32. Based on the material covered in this chapter, what questions would you ask the firm's founders before making your funding decision? What answers would satisfy you?
If you had to make your decision on just the information provided in the pitch and on the company's website, would you fund this company? Why or why not?
Chapter - Feasibility Analysis Learning Objectives
After studying this chapter you should be ready to:
1. Explain what a feasibility analysis is and why it's important.
2. Describe a product/service feasibility analysis, explain its purpose, and discuss the two primary issues that a proposed business should consider in this area.
3. Describe an industry/market feasibility analysis, explain its purpose, and discuss the two primary issues to consider when completing this analysis.
4. Explain what an organizational feasibility analysis is and its purpose and discuss the two primary issues to consider when completing this analysis.
5. Describe what a financial feasibility analysis is, explain its importance, and discuss the most critical issues to consider when completing this analysis.
6. Describe a feasibility analysis template and explain why it is important for entrepreneurs to use this template.
Developing an Effective Business Model
Learning Objectives
After studying this chapter you should be ready to:
1. Describe business models and discuss their importance.
2. Identify and describe the two general types of business models-standard and disruptive business models.
3. Explain the components of the Barringer/Ireland Business Model Template that entrepreneurs can use to develop a business model for their firm.
Industry and Competitor Analysis
Learning Objectives
After studying this chapter you should be ready to:
1. Explain the purpose of an industry analysis.
2. Identify and discuss the five competitive forces that determine industry profitability.
3. Explain the value that entrepreneurial firms create by successfully using the five forces model.
4. Identify the five primary industry types and the opportunities they offer.
5. Explain the purpose of a competitor analysis and a competitive analysis grid.