One of the key lessons learned from the reading Effective Capacity Building in Non-Profit Organizations was resetting aspirations and strategy to improve an organization's capacity. Other class readings have also emphasized the need for entrepreneurs to be flexible when it comes to building one's venture due to unanticipated changes in the market, new market information, etc. Sometimes, these changes could result in an entirely new vision, regardless of the company's history or pedigree. Here are a couple of interesting examples (from my Strategy Development class) of major companies that changed their core vision over time:
1a. Boeing (1950): Become the dominant player in the commercial aircraft and bring the world into the jet age.
1b. Boeing (current): People working together as one global enterprise for aerospace leadership.
2a. Ford (early 1900s): Democratize automobile.
2b. Ford (current): Become the world's leading consumer company for automotive products and services.
Similarly, my venture's focus has changed since the beginning of the semester (i.e. from liquid smoothies to smoothie powder). From the feasibility presentation, it also seems like the other ventures have changed from their original ideas. That's OK. I can't wait to see what everyone eventually presents at the final presentation.
No comments:
Post a Comment