The paper “ Business Engineering in Beta Golf and Development Plan for HXL Technology " is a thoughtful example of a case study on business. Why does the Beta Group exist? What is the business model for Beta? What does this tell us about translating innovation into value? The Beta Group exists for many different reasons. The Beta Group exists to provide other companies with “ Business Engineering” . Business Engineering refers to the ability to improve the technology advances in already established businesses. As explained in the text, The Beta Group is able to help businesses advance their products.
The Beta Group is able to redevelop products that the company would not be able to develop or fund on their own. Te Beta group does more than just develop the product. The Beta Group exists to help determine proper marketing, development, and patents for the product. The Beta Group offers existing companies services that would take many departments and a lot of money to fund. The Beta Group takes the extra work away from the company. The business model for The Beta Group has a few different stages. The first stage consists of concept development.
This process allows for new concepts to be developed. During this process, the market need is examined. If the developed product can be properly marketed and sold, the product then goes on to the next part of the business model. The second part of the business model is strategy development. This allows for analysis and the ability to seek out funding. After strategy development is figured out, the development of the business can be finalized. Business development is done by seeking out start-up costs, licensing, joint venture and acquisition.
Each part of The Beta Groups' business model is very important for The Beta Group to be successful and make other companies successful. The business model of The Beta Group can tell a lot about the way they translate innovation into value. From the moment an idea is created, the idea goes through many stages to make sure the idea can be successful. Careful planning ensures that success can be achieved. Question -What is a sensible development plan for HXL technology? Of the various choices for exploiting the technology, which would you choose?
Why? In what order? HXL technology is an impressive idea. HXL technology is a new product that can offer a new idea for golf equipment. There are many different ways that HXL technology can be marketed. A sensible development plan for HXL can lead to big success. HXL has new technology that is available to a market that has the money to spend. The development will be relatively cheap compared to the final costs of selling the product. Seeking out investors that want the least in return is best. The text describes many choices on how technology can be exploited.
The best choice for exploiting the technology would be to join with an existing company and assist the existing company with machines able to handle the new technology. This type of venture helps build the name of an existing company. Since the company has already been established it makes it easier than starting a whole new business. This can keep start-up costs lower. The choice also allows the existing business to come out with a new exclusive product that is likely to make money.
The fact that the company is already in business and has money coming in will make it easier to catch the eye of investors. Getting investors is important for any new technology that needs to be marketed. The choice to go with an existing business would be the first choice. The second choice would be to start a new business and offer the product as a high demand set. The last choice would be to allow all golf club makers the chance to produce the same technology. Question - What would happen to this project if it were developed inside an existing industry competitor?
What would a venture capitalist do with Beta Golf? If the project were developed inside an existing industry competitor it may fail. Many existing companies do not have the available resources to develop and fund such new technology. The Beta Group has everything that an existing business may lack. Because of this, businesses need businesses similar to The Beta Group. The venture capitalists can have the chance to make a lot of money with The Beta Group.
Venture capitalists are looking for new and well put together ideas that have the potential to make a huge profit. If Beta Group were to team with The Beta Group, the amount of profit can be outstanding. Since The Beta Group is constantly developing new ideas, there is always a new market and new chance for profit. Venture capitalists could help bring The Beta Group to a new level and achieve the maximum amount of profit.