CS代考 Strategy, Entrepreneurship and Innovation

Strategy, Entrepreneurship and Innovation

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HOME EXAM – January 2023

This home exam takes part January 9th – January 13th. It consists of eight questions which total 50

points. To pass you need 30 points (60%).

You submit your word document on canvas no later than January 13, 23:59. Please make sure

your technology works and that you start your submission in due time. We will deduct 3 points

for those 0-3 hours late, and 5 points for 3-8 hours late. Beyond that, we offer an opportunity for

reexamination later this spring (this will probably be an oral exam).

The word document you submit should NOT include these instructions, the questions, or a list of

references. Besides your name and personal number (or equivalent) on the front page, the

document should only include your answers (you use Q1, Q2a, etc to link your answer to the

right question).

The document you submit will be checked for plagiarism, so make sure you follow the writing

rules. You find information on this on the library homepage. We recommend this tutorial:

Introduction

Your answers should not exceed 4000 words. You decide how you like to distribute the 4000

words between your eight answers (an indicative guide is to use 80 words per point

(80×50=4000). The total maximum of 4000 words includes all words in your submitted answers.

You should not include a list of references in the document you submit. The references you

should use in your answers are all listed below. Please reference wherever suited in your answers.

Please take it seriously when we ask for motivations and arguments. The motivation for the

choice of articles to use (or not use) is a vital part of your answer.

Finally, as stated in the lectures, the intention of this home exam is to evaluate if you understand

and can make use of the course literature. So, don’t spend words retelling the content of the

articles. It is more important that you relate to the message in the articles when explaining and

reflecting on the questions asked.

And please, read all questions carefully and reflect on WHY, before you start answering!

The list of articles to be used in the home exam

• Davidsson, P. (2004). Chapter 1 What is entrepreneurship. Researching

Entrepreneurship. Boston: Springer. Retrieved from

http://link.springer.com/book/10.1007%2Fb100548

(accessible on Canvas, you only need to read Chapter 1)

• Sarasvathy, S. (2001). Causation and Effectuation: Toward a Theoretical Shift from

Economic Inevitability to Entrepreneurial Contingency, Academy of Management

Review, 26(2), 243-263.

• Shepherd, D. A., & Gruber, M. (2021). The lean startup framework: Closing the

academic–practitioner divide. Entrepreneurship Theory and Practice, 45(5), 967-998.

Introduction

• Ostervalder, A. & Pigneur, Y. (2016). Business model generation. Retrieved from:

http://businessmodelgeneration.com/book?_ga=1.75362578.1272172175.1471786683

(Here you can preview and download those 72 pages for free)

• Arthur, B.W. (1996) Increasing Returns and the of Business, Harvard

Business Review, July-Aug.

• Bower, J.L., Christensen, C.M. (1995) Disruptive Technologies: Catching the Wave,

Harvard Business Review, Vol. 73(1), pp. 43-53. Available in Canvas.

• Christensen, C. (1997). The innovator’s dilemma. Harvard Business School Press,

Cambridge, Mass. First two chapters.

• Tripsas, M. (1997) Unraveling the process of creative destruction: complementary assets

and incumbent survival in the typesetter industry, Strategic Management Journal, Vol.

18(S1), pp. 119-142. Video here. Available in Canvas.

• Mintzberg, H. (1987). ” The strategy concept 1: Five p’s for Strategy”. California

Management Review, 30(1). 11-24.

• Fleisher, C. S., & Bensoussan, B. E. (2003). Strategic and competitive analysis: methods

and techniques for analyzing business competition (chp 1 and 17). Upper Saddle River,

NJ: . (accessible on Canvas)

• Porter, M. E. (2008). The five competitive forces that shape strategy. Harvard business

review, 86(1), 25-40.

• Kim, W. C., & Mauborgne, R. (2005). Blue ocean strategy: from theory to practice.

California Management Review, 47(3), 105.

• Javidan, M. (1998). Core competence: what does it mean in practice?. Long range

planning, 31(1), 60-71.

• Cannon, M. D., & Edmondson, A. C. (2005). Failing to learn and learning to fail

(intelligently): How great organizations put failure to work to innovate and

improve. Long range planning, 38(3), 299-319.

This home exam consists of eight questions which total 50 points. To pass you need 30 points

Q1 6 points

Q2 6points

Q3 10 points

Q4 5 points

Q5 5 points

Q6 6 points

Q7 6 points

Q8 6 points

= 50 points. Please make sure you have answered all questions.

http://businessmodelgeneration.com/book?_ga=1.75362578.1272172175.1471786683
https://eur02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3DBxmXGTxtPE8%26list%3DPLbCDYrBDVG0eL2-maJcsDy2fp4cLJEdbP%26index%3D15&data=04%7C01%7CAnders.Melander%40ju.se%7Ca4d3d4c87b09428cfa3e08d98ee56d53%7C7564bc8f37384b4dbd575a02ca6215fb%7C0%7C0%7C637697938290843082%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=IoxZY%2FfBffXhR%2BdxupSVQvo7Pk%2BVAlCm25RcoWOsxDA%3D&reserved=0

Q1 The entrepreneurship debate (6p)

Sam and his girlfriend Teresa was for a walk when they suddenly met an old friend. The friend

Ted was very happy. Sam just had to ask why!! Ted told them that his new Gym will open next

week. This gym will be revolutionizing, he declared. In what way, Teresa asked. Ted looked at

her conspicuously and said in confidence, I will charge 15% lower rates than all existing

competitors! Here Sam broke in and declared with a loud voice – Ted, you are a TRUE

entrepreneur! But Teresa objected reluctantly and said – but that isn’t really entrepreneurial!

When we leave Sam, Teresa and Ted, the two first still fiercely debate if Ted’s new gym venture

is a sign of entrepreneurship or not.

a) Choose an appropriate article in the readings to analyze Sam and Teresa’s debate.

Motivate your choice of article (2p)

b) Use arguments from the article to settle the argument between Sam and Teresa. Who is

right? Is Ted a true entrepreneur or not? (4p)

Q2. The Deans strategic change (6p)

When the dean of the business school launched a business program targeting engineering

students he declared that this represented a strategic change, as the business school was

targeting a new customer group. But, did the initiative really represent a strategic

a) Choose an appropriate article in the readings to analyze the Dean’s statement. Motivate

your choice of article (2p)

b) Use arguments from the article to decide if the Dean was right or not. (4p)

Q3 The ice cream industry investment (10p)

You are widely known for your successful investment advices. Several investors have made a

fortune after they listened to your advice. So it is of no surprise when you are approached by a

new investor, asking you for advice on the ice cream industry. The investor has localized two

options for her one million SEK investment. But, which to choose? (the investor loves ice cream

but has no experience in the industry).

Read the industry and the two company overviews below. Localize articles that will be helpful in

the analysis. Use the articles to decide on where to invest.

a) What articles will you use in the analysis? Motivate! (3 p)

b) Use the articles to analyze the case and reach a motivated decision of where to invest

In 2010 two people who don’t know each other, Kerstin and Jan, decide to enter the ice cream

business. Both have studied marketing but neither has any experience in the industry. They start

their operations in small towns 15-20 minutes’ drive outside Jönköping, but in different

directions. One in a tourist town of Gränna (north of Jönköping) and one in Taberg, south of

Jönköping. Ice cream, it seems, attracts them both, and both decide this could be an interesting

(and fun) way to reach their entrepreneurial goals.

In this case, we compare the paths these two companies have followed until 2020! But first, what

is it about ice cream? What makes this industry so attractive for entrepreneurs?

The ice cream business

Ice cream has varying popularity levels around the world. In New Zealand, it is estimated that the

consumption is 28 litres per person per year, followed by the USA (21 litres), Australia (18 litres)

and Finland (14 litres). Sweden is 5th in per capita ice cream consumption in the world with 12

litres per person per year (about 110 million litres in total), ahead of countries like Italy (8 litres)

and the UK (7 litres). Due to the climate, demand is highly seasonal. In the summertime, the sale

of single-wrapped ice cream is at its highest, but sales of the packaged ice cream (in consumer

packages from 250ml to 2 litres) are more evenly distributed over the year. On the list of Swedes’

favourite flavours are the classics, namely vanilla and chocolate, as well as more complex flavours

like liquorice, pecan and pistachio. The trend in the Swedish ice-cream market is that premium ice

cream is a growing segment and that people have generally become more aware of the health

aspects of what they eat. As a result, the popularity of frozen yoghurt is increasing rapidly.

Generally, consumers know that ice cream is “not good” for them to eat. It is a “reward product”.

This means that when consumers indulge in ice cream, there is an emphasis on the quality of the

product (“when I eat it, it must be good”). There has also been an increase in the number of

consumers searching for healthier alternatives (such as yoghurt ice cream and fruit-based flavours).

Women marginally consume more ice cream compared to men while older consumers enjoy the

highest number of ice cream occasions. There has also been an increase in the number of people

with allergies of various kinds (lactose, nuts, gluten and other additives). This has enabled ice

cream products to develop new products to satisfy the needs of this market.

2020 was the year of the Coronavirus and lockdowns. The ice cream market was affected both in

production and sales. The supply chain was impacted by the impact on inputs in the production

process as the virus affect the labour supply in the plantations. Covid-19 also impacted the

production routines in the factories with the introduction of additional measures to ensure worker

safety and adapted shift patterns (Umhoefer, 2020). In Europe, ice cream was not considered a

necessity, so ice cream stores were closed, impacting sales from these stores with many stores

retrenching staff or closing completely (Mak, 2020).

Sales of ice cream during the European summer is an important contributor to profits of

organisations which requires retailers to stock up. Uncertainty regarding the tourist in summer 2020

meant that retailers did not stock up on some brands of ice cream (Upshall, 2020), impacting the

sales of leading brands during this period in some areas.

In contrast, sales of ice cream in grocery stores increased by 20% (Umhoefer, 2020) as consumers

purchased ice cream to eat at home specifically the sale of multipacks which allows members of

the family to eat different products. During times of stress, many people turn to food as a source of

comfort as this helps them feel better, and the times of Covid-19 was no exception (Di Renzo et

al., 2020).

The ice cream market in Sweden

Despite the pandemic, the ice cream market in Sweden grew an average of 9% in 2020 (based on

figures from the 3 leading ice cream manufacturers in Sweden). As more Swedes stayed at home

during this period, sales of a wide range of ice creams increased, but especially the multipacks of

single pack ice creams which increased by 26% (Bengtsson, 2021). While there has been an

increase in online sales of ice cream, buying ice creams still tends to be an impulse purchase not

requiring planning (Larsson, 2021).

Of course, with the popularity of ice cream in Sweden, there are many competitors. The largest

competitor is the multinational Unilever. Unilever is a public company listed in England and the

Netherlands. In 2014 the turnover from more than 400 well-known brands was €48, 4 billion. In

Sweden, their most popular ice cream brands are GB Glace, Magnum, Daim and Carte d´Or®. The

brand that serves as an inspiration for many producers in Sweden is Ben & Jerry, owned by

Unilever since 2000. Overall Unilever has a 42% share of the total Swedish market. They however

dominate the single-wrapped ice cream market with a market share of approximately about 80%,

making them less dominant in the packed ice-cream market. The premium segment of the market

is about 5% in volume but about 10% in market value.

In 2020 there were 62 Swedish ice-cream manufacturers listed. Only ten of those had more than

20 employees and 41 were in the category of 0-4 employees. Most of these small manufacturers

are farm-based and compete on a regional basis. One interesting concept is known as farmhouse

ice cream (in Swedish Gårdsglass). This is a concept from The Netherlands that appeals to dairy

farmers directly to help them produce ice cream from their excess milk production. This allows a

farmer to expand their product range. Farmers typically purchase a starter kit from The Netherlands

including the machinery and equipment to begin producing ice cream using standard recipes. The

concept has spread to several countries. Ice cream manufacturers are increasingly linking up with

milk producers as well as other local producers to reinforce the local and organic perception of the

Nine out of the ten competitors with more than 20 employees are Swedish in origin (Unilever is

the tenth). LOHILO (former Alvesta Glass) is a top expander with a turnover of 245 MSEK in

2020. Even if the sales of their own ice cream on the Swedish market is a big part, they are also

expanding on other markets, with imported ice-cream brands and an extended product range. The

largest among the Swedish brands is SIA Glass with 570 MSEK in turn-over (family-owned, about

130 employees, about 20% of the total market and growth of 35% in the last five years). All

competitors are agile and can respond quickly to changes in both the market and new product

launches of other ice cream manufacturers. Many of the ice-cream packages look rather similar

illustrating the inability to sustain a differentiation of products.

Mormor Sara

In Spring 2010, öm was on parental leave with her third child and without a job to return

to. Educated in marketing/public relations and with a keen interest in food and cooking, she decided

to search for new opportunities. With few job opportunities in Jönköping (a city of about 130 000

inhabitants), the search for a new job had become tiring. Home on the sofa indulging in eating ice

cream, she realised that there wasn’t a quality ice cream made in Sweden that could compete with

international brands (such as Ben and Jerrys®), hence the decision to start making ice cream,

named after her grandmother. Her husband chose the supportive strategy and soon Kerstin, together

with two of their closest friends and her brother in Stockholm (a successful entrepreneur), began

to intensively plan this new business.

One of Kerstin´s first actions was to set up a blog that soon became a success. The intention was

that after some time she would reveal her plan to start an ice-cream factory on the blog. But, none

of those that were involved early on in her project knew how to make ice cream or had experience

in the ice-cream industry. Where to find a suitable location for the factory? How to make ice cream?

Employees? How to sell the ice cream? The only way to raise capital was for Kerstin to take a

mortgage on the house she and her husband owned.

Kerstin began to conduct market research, making cold calls to those who she thought could

provide input. One speculative call was to one of Sweden’s most successful food store owners,

who happened to be situated in Jönköping. To her surprise, he spent more than an hour explaining

the mysteries of the ice-cream business to her. He concluded by saying that logistics was the key

to success and she probably had no chance of succeeding in that area. But if she made a success of

it, he promised to sell her ice cream in his stores.

About a year later in July 2011, Kerstin’s dream became a reality when her factory opened in

Taberg, a (very) small town where space could be found at a reasonable cost, situated some

kilometres south of Jönköping. The opening of the 118 square meter factory with a small shop was

a success. Kerstin’s blog and other activities had resulted in articles in both national and local

media – as a result on the opening day, there was a queue of about 650 people outside the small

factory! By the autumn of 2011, sales at the factory had stabilized, a couple of employees were

hired, and ice cream was distributed to some local stores in the immediate vicinity. But ambition

was high as Kerstin explained, “I wanted to go to Stockholm. It is my hometown and my brother

lives there. And, that is the place to be if you are going national” And, on social media, it seemed

there were a lot of potential customers who wanted to buy Mormor Sara’s ice cream in Stockholm.

Needing equipment to develop the business, in 2014 Kerstin decided to use crowdfunding. The

campaign was considered a success and 1.4MSEK was raised by the time it closed in April 2015.

Kerstin presented ownership as “doing something fun and different” to potential shareholders, a

key reason she believes people were initially keen to invest. The reason Kerstin decided to pursue

crowdfunding was the perceived ability to create brand ambassadors from those who invested in

the business – those who bought shares would tell others about the business and help to spread the

word about the ice cream and the company itself. After the end of the campaign, Mormor Sara had

142 new shareholders owning 20.5% of the company. Most of these investors had invested 2-10

000SEK (€220-1200). There was one big exception; a local resident with a background as a

financial controller who invested a significant sum demanded a seat on the board, thus extending

the board to six.

As part of branding, Mormor Sara early on added the word “Därproducerad” (there produced) in

the company name. The ice cream is not “home-made” – it is made in a factory- and when it is sold

outside Jönköping it is no longer “locally produced”. The solution was to add “Därproducerad” –

there produced- to the name of the company to stress that the ice cream manufactured by Mormor

Sara is made from natural, locally-sourced ingredients and that the products are free of additives.

Mormor Sara also developed an innovative new product: dairy-free ice cream entirely based on

natural ingredients and with no nuts in the autumn of 2015. They were among the first to the

Swedish market with such an innovation, but they were soon followed by many competitors. By

November of 2017, you could find 240 different types of ice-creams on Mathem, a Swedish online

store. Out of those 55 were gluten-free, and 42 were lactose-free.

After crowdfunding…and the future

Following the successful crowdfunding campaign in 2015, investments were made to increase

production capacity and to increase market potential. This included equipment to ma

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