- Human capital- fellow college students
- This resource is very valuable, as the college students are knowledgable in the subject matter and won't require high wages. I believe it's rare in that a lot of organizations don't have the location or connection to hire primarily college students for a position like this. It's relatively inimitable in this area, at least. However, on a national scale it could be imitated. I believe it's non-substitutable, because using college students is the foundation of my business proposal.
- Network- academic & career mentors at UF
- This resource serves as a valuable stream of advice and connections, and is rare in that it's unique to college students at UF. It's only imitable by other UF students, and could be substituted with other networks, but not easily.
- Network- recruiters at companies
- This is valuable, as it allows for first-hand career-prep advice. However, it's not rare as a lot of people have access to it, and it can be imitated. It could be substituted, but not easily.
- Resume building, interview prep & career planning worksheets
- These are valuable resources to use in the workshops, but aren't really rare. They could be easily imitated and substituted with different formats.
- Personal knowledge of resumes, interviewing & career planning
- While this knowledge is extremely valuable and necessary for the business to function, it's definitely not rare or inimitable. It cannot be substitutable, but many people have or can obtain this knowledge.
- Writing skills
- This is valuable for running any business, but especially for this one. However, this skill is not rare or inimitable. It cannot be substituted, but it can be obtained by many people.
- Editing skills
- This skill will be valuable when reviewing resumes, cover letters, and workshop plans. It's not very rare, and definitely not inimitable. However, there may be an editing system I can come up with to make us unique. It won't be substitutable when running workshops.
- Problem-solving skills
- This skill is valuable and non-substitutable when running any business. It's not very rare or inimitable, though.
- Leadership skills
- This skill is very valuable when running a business. It's relatively rare, and can be inimitable if you create unique leadership practices. It can be substitutable, but not if you want to lead your staff successfully.
- Location- college town
- This resource is valuable, as it allows us to use college students as staff. It is relatively rare and inimitable, as you can't create a college town; you have to just be in one. This is relatively substitutable, but you would have to find a different population to be employees.
My top resource is the human capital: my fellow college students. It's the most unique resource, and serves as a key function of the business plan.
Hi Abby,
ReplyDeleteI agree with you that your top resources is the human capital that you will employ. Having people that understand your mission and purpose is essential to success and growth as a venture. Also, having key leadership skills will help you to work through challenges at the onset of your business. You are also in a great location to start this venture, seeing as UF has many students and a lot of resources that you can take advantage of while starting out. Nice work, Darren.
Abby,
ReplyDeleteI see your reasoning for listing human capital as your top resource. I think that individuals themselves are the most important components of running a business effectively because without employees and individuals who are capable of doing their job, there would be no business.
Hello Abby,
ReplyDeleteI agree with you that a great resource to have is human capital. However, I disagree with your opinion that it is your most important one. I believe that the location of where your business is located is your top resource. Without being next to a huge college town, your business would not be nearly as successful. Other than that, keep up the great work.
Hi Abby,
ReplyDeleteI think that these are all great resources for your venture. Most notably, as you pointed out, the human capital is definitely the strongest because this is the main way that you are going to run your business and is basically what you are selling to your customers. I also like the network of career coaches that are on campus. This is particularly strong because you can always go to them for advice.