Who was the inventor of the

light bulb?

Discussion Today

The nature of opportunity

How entrepreneurs really work

Forecasting

Business Plan or Business Model?

The opportunity model

A reality check: What entrepreneurs are really

like

Small Business Verses Entrepreneurship

Raw materials

Transport

Production Transport

Warehouse

Supermarket

Community

Farm

Transport

Education

Research & Development

Management

Fossil Fuels Pollution

Power generation

Export/Import

Air Transport

Waste

Competition & Tension

Conflict

Government

Diversity

Economic Growth

Health Development Poverty &

Unhappiness

Consumption

Uncertainty

New Paradigms

Regulation

Product Opportunity

Gap

Social Social and cultural trends

and drivers Reviving historical trends Influence of international

trends

Technology State of the art and emerging technology Re-evaluating existing

technology Technology applied in new

areas

Economic State of the economy

Shift in focus on where to spend money

Level of disposable income Level of debt

Regulation Restriction of existing

regulations New regulations and impact

on product markets and supply chains

The External Variables

Perceptual Changes

The Environment

Experience

New Knowledge Changing

Domicile Outlook

Urbanization, growing

confidence about social status, etc.

New knowledge about health, fitness,

food, etc.

Aspirations

Where am I now?

Where do I want to be?

Global Convergence

Peers and Role Models

Attitudes

New technology

Changing traditions

Changing Affluence

The benefits of exercise and working out in a gym

Women wanting a safe and secure environment

Women feeling intimidated in conventional gyms in the weight

areas.

Not working out in

conventional gyms

Pick up women’s changing perceptions

Current situation

Changing Perceptions

Result in creation of Fernwood

Women’s Health Club Concept

Opportunity

Support/Facilitate

Regulate/Control Encourage/Discourage

Intellectual Property Laws

Anti-trust Laws

Taxation

Legal System

Board of Investment

Specific Regulatory Bodies i.e., Pesticides Board

Capital Raising Institutions

Labour Laws

Environmental Laws

Business Formation Procedures

Licensing & Permits

Contract Enforcement

Policing of Corruption

Property Laws

Education & Training

R&D Policy

Trade barriers & Protection

Product Standards & safety

Fiscal & Monetary Policy

Changing Technology

Relatively Stable

Flux & Transformation De

crea

sing S

tabi

lity

Increasing Complexity

Routine Non-Routine

Subsistence Farming

Cash cropping

Market gardening Consulting Business

FMCG Manufacturing

Small Retail

Wholesaling

Electronic Goods

Computer & Mobile Phone Airlines

Automobile Manufacture

DVD Rental

Medical Services Fast Food

Merging Industries

Change

Shock

Gestalt

Competitor’s new products

Technology Demographics

New Information

Lifestyle

Changing Tastes

Economy

Regulation

New Opportunities

©Hunter (2012)

Construction New technologies

New Business models

Imitation Replication & Extension

Allocative Supply/Demand changes

Demographic changes

Discovery Incongruities

Structural changes

Locus of change

Value creation

Analytical

Deductive (Black & white)

Intuitive

Inductive

Degree of ambiguity Active/Imaginative

Passive/Reactive The forms of opportunity©Hunter (2012)

Large Companies & Consumer Type

Markets High analytical & Low

intuitive opportunities, high strategy & low tactical

exploitation

Breakthrough Technology

High analytical and high intuitive opportunities, high

strategy & high tactical exploitation

Imitative Business

Low analytical & low intuitive opportunities, low strategy &

low tactical exploitation

Entrepreneurial

Low analytical & high intuitive, low strategy & high tactical

exploitation

Growing importance

of formal strategy

Growing importance of tactical moves

Low

High

Analytical

Low High Intuitive

©Hunter (2012)

Imitative

Allocative

Discovery

http://www.google.com.my/imgres?imgurl=http://wallpapers.free-review.net/wallpapers/21/Coca_Cola_-_Classic.jpg&imgrefurl=http://wallpapers.free-review.net/21__Coca_Cola_-_Classic.htm&usg=__YyIQrQjkT3f79Ufr3SLy7KGNKWQ=&h=768&w=1024&sz=81&hl=en&start=23&zoom=1&itbs=1&tbnid=JZqbravH4-T3FM:&tbnh=113&tbnw=150&prev=/search?q=coca+cola&start=20&hl=en&sa=N&biw=1259&bih=618&gbv=2&ndsp=20&tbm=isch&ei=OoIKTpKfEIqrrAeI__mTDw

Construction

Market Orientated Firms

High adaptability to the environment but low

generative idea & strategy ability

Conservative firms

Very low adaptability to environment

Both Market & Entrepreneurially Orientated Firms

High adaptive and idea generative & strategy development ability

Entrepreneurial Firms

High generative idea & strategy capability

Mar

ket

Ori

enta

tion

Entrepreneurial Orientation

High

High

Low

Low

Four potential firm opportunity seeking typologies

Fastfood (General Characteristics)

1. Cheap 2. Good standard of hygiene 3. Good service 4. Fast and efficient 5. Specialize in a particular food 6. Know what to expect 7. A meeting place for people

Charcoal Burger Grill

1. Location near young people (university): convenient

2. Cheap and affordable 3. Good service 4. Authentic charcoal BBQ

burger grill (western style) 5. Convenient meeting place

with WiFi etc.

University

Location

Potential success parameters

Co

nce

pt

Extr

acti

on

Constructed Concept Concept Extraction

A (location) + B (characteristics) = C (constructed Concept)

A

B

C

©Hunter (2011)

Organically produced high active concentration shampoo with product

variants to suit various conditions.

Central Theme (Product Proposition)

Underlying Assumptions High & discerning

market end. Customers who

want mass custom produced

products.

Low competition in segment.

Rapidly growing segment.

Products match personal values.

Sustainable

Strategy Characteristics

Brand Theme

Features Benefits Signal

Attributes Channels

Customers

Laundry Service

Service Convenience Price Quality Relationship

Matching product to some marketspace

Matching marketspace to some product

Two ways to scan for opportunities

Change In User Habits

Risk None

None

Some

Some

Great

Great

Dangerous

High

High

None

Change in how and where people buy the product

Medium

Medium

Medium

Low

Low

We can land a man on the moon and return him successfully to Earth but we are still not too sure

what factors make a firm successful

How Entrepreneurs Really Work

The Summarised

Entrepreneurial

Process

Idea

Turn into Opportunity

Final Commitment

Start-Up

Growth

Sustainability

Creativity

Innovation

Strategy

Sales

NPD

Resource Gathering

Your Moves

Your Competitor’s

Moves

Your advantages & Disadvantages

©Hunter (2011)

Ideas Opportunities Strategies Opportunity Performance match Match

Spots

Evaluates &

Elaborates

Selects

Implements & Modifies

Perception & Creativity

Innovation Strategic Thinking

Venture Operations

Capabilities Governing Competitive Scope

Competencies Entrepreneurial, Opportunity

identification, Network, Conceptual, Strategic, Commitment

Resources Networks

Uniqueness / Differentiation

Management Capability

Competitive Advantage Costs: To customers, to operate Knowledge: Competitive environment Relationships: Customers, suppliers, financiers, (relative power) Structure: Organizational ability Technology: strength

Opportunities

Environment

Firm Opportunity Trajectory

Firm Alternative Opportunity Trajectory

Field of Network Based

Opportunities

Strategic Business Analysis

Resources, networks, capabilities, competitive

environment, etc.

Business Goals

Family Values

The Vision Aspiration

Family Goals

Self Assessment (Self-efficacy)

Decision Making Skills

Knowledge Competencies

Personal Goals

Business Competencies

Knowledge

Production & Operations

Marketing

Personnel

Financial

Risk Management

Horizontal and

vertical expansion

Aspirations

Self view

Income needs

Time Horizon

View of retirement

Opportunity cost of doing

other activities

Passion

Family Considerations

Generational

evolution

Grooming successors

Family aspirations

Lifestyle

Attachment

Asset Fulfillment

Value

Type

Needs

Wants

Liquidity needs

Alternatives

Future (Retirement)

Time horizon

Investment

options

Risk management

Tax planning

Opportunity cost of doing

other activities

Exit barriers

The Individual & Family Family history, Current family

livelihood, Current Family Status.

Motivational Origins

Images and Connections

Concepts

Ideas

Opportunity

Vision Platform - Perception

Time & Space Potential

Concept Generator – Making Connections

Sources of Opportunity Learning:

Conceptual World

Identifying concepts

Evaluation after experience

Complete re-evaluation (seek further information)

Real World

Experimentation & Testing

Structure common to all opportunities Vision – Outcomes

Time & Space Resources Networks

Skills, Competencies & Capabilities Competitive Environment Strategy – scope & depth

“A Narrative”

Evaluated and Elaborated Upon

The birth of an opportunity

Can and do entrepreneurs use a business plan?

The Secret

Who had a business plan?

Forecasting

Rate of Adoption

100%

80%

60%

40%

20%

1975 1980 1985 1990 1995 2000 2005 2010

Innovation Growth Maturity

Market Research

Less than 2% of filed patents are ever commercialised

Does a new invention have consumer benefits or create any competitive advantage?

Can consumers accept the new invention?

Laundry Liquids Detergents

Concentrated Laundry Powders

Detergents with Special Additives

Laundry Detergent Tablets

Laundry Detergents Powders

Solid Soaps & Powders

Laundry Blue

Laundry Detergent Bars

Pre 1900’s

Up to Late 1940’s

1950’s until present

1980’s until present

Product Evolution

The Past

Present time

We know the past and present Without any changes our

timeline will remain relatively unaltered

The effect of competitor innovation will bring product

evolution

This changes the parallel of the market gradually

A Radical change in technology

Will radically change the timeline into a new industry

A

va

ila

bilit

y I

nc

rea

ses

Usefulness Increases

Media Reports

Ideas

Data

Information

Knowledge

Wisdom

The Continuum from media reports to wisdom in relation to availability and usefulness

Where does the informati on come from?

Supermarket Retail Prices New Zealand June 2002

Product Size Pak N Save Woolworths Foodtown Warehouse New World GilmoursCockroach Control

Raid Advanced Baits (3 Baits) 30ml $3.75 $3.53Mortein Roach Trap 4 traps $6.07 $6.99 $6.55 $6.75No Cockroaches 500ml $10.39

Ant Control

Raid Ant Killer 120ml $3.16 $3.69 $3.70 $3.79 $3.18No Ants Gel Bait 60ml $7.72 $7.60 $7.99 $7.30No Ants Bait Stations $3.95 $3.49 $4.99Mortein Ant Nest Stop 4 baits $3.91 $3.99Neverong Ant 250ml $2.90 $2.38Raid Ant Baits 3 pack $4.25Ant Ban $4.15No Ants 500ml $10.99

Moths/OtherRaid Moth Proofer $3.65 $3.29 $3.29Mortein Mosquito Coils 10 coils $2.02 Raid Portable Mozzie Repeller $12.33 $10.65 $10.99 $12.99Spiral Fly & Mosquito Rep. $11.45Mortein Mozzie Zapper $10.45 No Fleas/No Spiders 500ml $10.99

New ZealandSales Forecast (Net Invoice Price*)Account: Auckland/FoodStuffs/ProgressiveProduct: Roach Attack 140grams

%Year 5.10% 4.96% 6.95% 10.92% 11.92% 11.92% 11.92% 11.92% 7.94% 5.96% 5.79% 4.70% 100.00%

No Stores July August Sept. October November December January Februrary March April May June TotalTotal Account 274 Vol 61.46 59.78 83.70 131.52 143.48 143.48 143.48 143.48 95.65 71.74 74.99 56.63 1209.42

Val $4,447.54 $4,325.97 $6,056.36 $9,517.13 $10,382.33 $10,382.33 $10,382.33 $10,382.33 $6,921.55 $5,191.16 $5,045.33 $4,098.04 $87,132.39Auckland/ 42 Vol 12.60 12.60 17.64 27.72 30.24 30.24 30.24 30.24 20.16 15.12 12.60 12.60 252.00New World Val $911.74 $911.74 $1,276.43 $2,005.82 $2,188.17 $2,188.17 $2,188.17 $2,188.17 $1,458.78 $1,094.08 $911.74 $911.74 $18,234.72Auckland/ 19 Vol 5.70 5.70 7.98 12.54 13.68 13.68 13.68 13.68 9.12 6.84 5.70 5.70 114.00Pak N Save Val $412.45 $412.45 $577.43 $907.39 $989.88 $989.88 $989.88 $989.88 $659.92 $494.94 $412.45 $412.45 $8,249.04Auckland/ 130 Vol 25.35 25.35 35.49 55.77 60.84 60.84 60.84 60.84 40.56 30.42 40.56 25.35 522.21Four Square Val $1,834.33 $1,834.33 $2,568.06 $4,035.52 $4,402.38 $4,402.38 $4,402.38 $4,402.38 $2,934.92 $2,201.19 $2,934.92 $1,834.33 $37,787.12Auckland/ 14 Vol 2.73 1.05 1.47 2.31 2.52 2.52 2.52 2.52 1.68 1.26 1.05 1.05 22.68Non Banner Val $197.54 $75.98 $106.37 $167.15 $182.35 $182.35 $182.35 $182.35 $121.56 $91.17 $75.98 $75.98 $1,641.12Progressive/ 30 Vol 9.00 9.00 12.60 19.80 21.60 21.60 21.60 21.60 14.40 10.80 9.00 5.85 176.85Foodtown Val $651.24 $651.24 $911.74 $1,432.73 $1,562.98 $1,562.98 $1,562.98 $1,562.98 $1,041.98 $781.49 $270.00 $423.31 $12,415.63Progressive/ 39 Vol 6.08 6.08 8.52 13.38 14.60 14.60 14.60 14.60 9.73 7.30 6.08 6.08 121.68Supa Value/Fresh Val $440.24 $440.24 $616.33 $968.52 $1,056.57 $1,056.57 $1,056.57 $1,056.57 $704.38 $528.29 $440.24 $440.24 $8,804.76

Estimated % Distribtion and Average Monthly Self Offtake (in Cartons) Roach Attack Ant Attack Ant Attack No-Moz No-Moz Fun Candles Prewash Living Scents

Group 140gramsgrams 150gramsgrams 50 mlml 3x35 grams 100 grams 3x35g rams Stain 100grams Wardrobe 30g

%dist AMSO %dist AMSO %dist AMSO %dist AMSO %dist AMSO %dist AMSO %dist AMSO %dist AMSO

AucklandFoodstuffs/New World 100% 0.5 100% 0.8 100% 0.8 100% 0.5 100% 0.5 100% 0.25 100% 0.4 100% 1Foodstuffs/Pak N Save 100% 0.5 100% 0.8 100% 0.8 100% 0.5 100% 0.5 100% 0.25 100% 0.4 100% 1Foodstuffs/Four Square 65% 0.5 65% 0.8 65% 0.8 65% 0.5 65% 0.5 65% 0.25 65% 0.4 65% 1Foodstuffs/Non Banner 25% 0.5 25% 0.5 25% 0.6 25% 0.5 25% 0.5 25% 0.25 25% 0.4 25% 1Progressive/Foodtown 100% 0.5 100% 0.8 100% 0.6 100% 0.5 100% 0.5 100% 0.25 100% 0.4 100% 1Progressive/Supa Value/Fresh 65% 0.4 65% 0.5 65% 0.5 65% 0.5 65% 0.5 65% 0.25 65% 0.4 65% 1Woolworths/Prog. WellingWoolworths: 100% 0.5 100% 0.8 100% 0.8 100% 0.5 100% 0.5 100% 0.25 100% 0.4 100% 1Big Fresh 100% 0.5 100% 0.8 100% 0.6 100% 0.5 100% 0.5 100% 0.25 100% 0.4 100% 1Price Choppers 100% 0.5 100% 0.8 100% 0.8 100% 0.5 100% 0.5 100% 0.25 100% 0.4 100% 1Foodstuffs/New World 100% 0.5 100% 0.8 100% 0.6 100% 0.5 100% 0.5 100% 0.25 100% 0.4 100% 1Foodstuffs/Pak N Save/Right 65% 0.5 65% 0.5 65% 0.6 65% 0.5 65% 0.5 65% 0.25 65% 0.4 65% 1Foodstuffs/4 Square/non-bann 25% 0.4 25% 0.5 25% 0.5 25% 0.5 25% 0.5 25% 0.25 25% 0.4 25% 1Foodstuffs/South IslandNew World 100% 0.5 100% 0.5 100% 0.6 100% 0.5 100% 0.5 100% 0.25 100% 0.4 100% 1Pak N Save 100% 0.5 100% 0.5 100% 0.5 100% 0.5 100% 0.5 100% 0.25 100% 0.4 100% 1Four Square 20% 0.5 20% 0.25 20% 0.6 20% 0.6 20% 0.5 20% 0.25 20% 0.4 20% 1On the Spot 5% 0.5 5% 0.25 5% 0.5 5% 0.5 5% 0.5 5% 0.25 5% 0.4 5% 1

Annual Sales Distribution

Product J A S O N D J F M A M J Total

Roach Attack 140gram 5% 5% 7% 11% 12% 12% 12% 12% 8% 6% 5% 5% 100%Ant Attack 150grams 5% 5% 7% 11% 12% 12% 12% 12% 8% 6% 5% 5% 100%Ant Attack 50ml 5% 5% 7% 11% 12% 12% 12% 12% 8% 6% 5% 5% 100%No-Moz Cit. Candle 3x35gram 5% 5% 7% 11% 12% 12% 12% 12% 8% 6% 5% 5% 100%No-Moz Cit. Candle 100grams 5% 5% 7% 11% 12% 12% 12% 12% 8% 6% 5% 5% 100%Fun Candle 3x35grams 5% 5% 7% 11% 12% 12% 12% 12% 8% 6% 5% 5% 100%Prewash Stain Bar 100grams 5% 5% 7% 11% 12% 12% 12% 12% 8% 6% 5% 5% 100%L/S Wardrobe 30grams 5% 5% 7% 11% 12% 12% 12% 12% 8% 6% 5% 5% 100%

Percentage Distribution GainedAccount J A S O N D J F M A M J

Metcash:Nsw/Act 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% Victoria 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% Queensland 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% South Australia 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% Other Independents:FAL/Action 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%

Hunters Brands Pty. Ltd. Product Costing Structure

Roach Attack Ant Attack Ant Attack 3x70gram 150grams

140grams 150grams 100ml Candle Supercandle

Carton size 6 6 6 24 24 0 0Unit calculations:

RSP: $5.98 $3.45 $3.49 $3.99 $3.99 $0.00 $0.00GST: $0.54 $0.31 $0.32 $0.36 $0.36 $0.00 $0.00

RSP (before GST): $5.44 $3.14 $3.17 $3.63 $3.63 $0.00 $0.00Carton calculations:

Retail Margin 40% $13.05 $7.53 $7.61 $26.12 $26.12 $0.00 $0.00Gross Invoice Price $19.57 $11.29 $11.42 $64.15 $64.15 $0.00 $0.00

Warehouse Allow. 0% $0.00 $0.00 $0.00 $3.21 $3.21 $0.00 $0.00Net Invoice Price $19.57 $11.29 $11.42 $60.94 $60.94 $0.00 $0.00

Trading Terms 0% $0.00 $0.00 $0.00 $9.14 $9.14 $0.00 $0.00Net Pricing $19.57 $11.29 $11.42 $51.80 $51.80 $0.00 $0.00

Case Deals (ave. 0%) $0.00 $0.00 $0.00 $0.00 $1.92 $0.00 $0.00

Fertool Margin 25% $4.89 $2.82 $2.86 $15.23 $15.23 $0.00 $0.00Net Price $14.68 $8.47 $8.57 $34.64 $34.64 $0.00 $0.00

Hunters Brands Pty. Ltd. Product Costing Structure

Roach Attack Ant Attack Ant Attack 3x70gram 150grams

140grams 150grams 100ml Candle Supercandle

Carton size 6 6 6 24 24 0 0Unit calculations:

RSP: $5.98 $3.45 $3.49 $3.99 $3.99 $0.00 $0.00GST: $0.54 $0.31 $0.32 $0.36 $0.36 $0.00 $0.00

RSP (before GST): $5.44 $3.14 $3.17 $3.63 $3.63 $0.00 $0.00Carton calculations:

Retail Margin 40% $13.05 $7.53 $7.61 $26.12 $26.12 $0.00 $0.00Gross Invoice Price $19.57 $11.29 $11.42 $64.15 $64.15 $0.00 $0.00

Warehouse Allow. 0% $0.00 $0.00 $0.00 $3.21 $3.21 $0.00 $0.00Net Invoice Price $19.57 $11.29 $11.42 $60.94 $60.94 $0.00 $0.00

Trading Terms 0% $0.00 $0.00 $0.00 $9.14 $9.14 $0.00 $0.00Net Pricing $19.57 $11.29 $11.42 $51.80 $51.80 $0.00 $0.00

Case Deals (ave. 0%) $0.00 $0.00 $0.00 $0.00 $1.92 $0.00 $0.00

Fertool Margin 25% $4.89 $2.82 $2.86 $15.23 $15.23 $0.00 $0.00Net Price $14.68 $8.47 $8.57 $34.64 $34.64 $0.00 $0.00

Product Benefit Strategies

Launch Product Perceived Consumer Benefits Promotional StrategiesImmediate Ant Attack Powder 150grams a) can use indoors Instore POP material

b) Non-Toxicc) Only use when problem arises

immediate Ant Attack Liquid 70ml a) can use indoors Instore POP materialb) Non-Toxicc) Only use when problem arisesd) Can be used on walls, etc.

immediate Roach Attack 140grams a) Realign product as a small space air Instore POP material freshener as well as insect repellent.

immediate Lilin Serai Wangi a) Super strength boosted product. a) Instore POP materialb) New presentation b) regional radio when wholesaler

appointed.c) Newspaper

immediate Citrus All purpose Cleaner 500ml a) Powderful Natural solvent cleaner a) Instore POP materialb) fresh orange citrus fragrance b) block/demo/promoters

Nov. 2003 Thick Bleach a) More powerful than ordinary bleach a) Instore POP materialb) Can use on toilet bowl and walls b) block/demo/promoters

Nov. 2003 Non-Toxic Knock Down Aerosol a) Non-Toxic a) Instore POP materialb) Safe near food b) block/demo/promoters

c) regional radio when wholesaler appointed.

Nov. 2003 Non-Toxic Surface Aerosol a) Non-Toxic a) Instore POP materialb) Safe near food b) block/demo/promoters

c) regional radio when wholesaler appointed.

Feb. 2004 Tea Tree Soap a) Natural Antiseptic a) Instore POP materialb) block/demo/promotersc) regional radio when wholesaler appointed.

April 2004 Aromatherapy Bath & Shower Gel a) Use Essential oils a) Instore POP materialb) Full Concept b) block/demo/promoters

April 2004 Incistern blue blocks Price benefit a) Instore POP materialb) block

Essential Home Products Pty. Ltd. Cost & Pricing Matrix

Product Ctn Landed Net Net Net Invoice Gross Invoice RSP Value RSPCost Price* Price** Value Price Carton*** Carton****

Roach Attack 140grams 24 $24.73 $70.18 $77.63 $91.33 $96.14 $72.36 $143.52Ant Attack 150grams 24 $17.48 $40.49 $44.79 $52.69 $55.46 $75.36 $82.80Ant Attack 50ml 24 $36.46 $40.96 $45.31 $53.30 $56.11 $76.08 $83.76No-Moz Citronella Cnd. 3x35g 24 $20.77 $31.10 $34.40 $40.47 $42.60 $57.84 $63.60No-Moz Citronella Cnd. 100g 24 $15.45 $22.30 $24.67 $29.02 $30.55 $41.52 $45.60Aroma Fun Candle 3x35grams 24 $29.30 $44.60 $49.33 $58.04 $61.09 $82.80 $91.20Prewash Stain Removal Bar 48 $35.44 $39.67 $43.88 $51.62 $54.34 $73.92 $81.12Living Scents Wardrobe 30g 24 $12.48 $19.83 $21.94 $25.81 $27.17 $36.96 $40.56* Net Price: After discounts, trading terms & brokerage fees

** Net Price: After discounts & trading temrs before brokerage fees

***Before GST

****After GST

Planned Distribution MatrixKey A/C Supermrk't Convenience M. Mrk't

Citronella Candle 100grams X X X XCitronella Candle 70grams X X XNon-Toxic Knock Down Aerosol X X X XNon-Toxic Surface Aerosol X X X XPrewash Stain Removal Bar X X XCitrus Cleaner X XAnt Attack Powder X X X XAnt Attack Liquid X X X XRoach Attack X X XWardrobe Small A/fresh X X X X

RSP Position Decision Making MatrixProduct Direct Competitors Pack Price Cost/ Competitor Claims EHP Claims Sugg.

Size Unit RSPRoach Attack 140grams Mortein Lure 'n' Kill 6 baits $3.34 n/a 1. Honey, malt, soya 1. Repels cockroaches, $5.98

21grams extract moths, silverfish &2. Lasts 3 months other crawling insects

Sureguard Mini Strips 3 pack $8.89 n/a 1. Kills up to 6 months 2. Non-toxic60grams 3. No insecticides

Mortein Moth & Insect Strips 3 pack $7.69 n/a 4. Natural citronella &15 grams Lavender oils

Cedar fresh Moth Balls 18 balls $4.83 n/a 1. 100% natural cedar 5. Leaves clothes & 2. Repels moths & oth. linen smelling fresh

3. Prevents mildrew 6. Takes away the smell of pets from the home7. No naphthelene or PDCB

Ant Attack 150grams David Grey's Ant Granules 500grams $5.39 0.01/g 1. Controls ants outside 1. Non-Toxic $3.45

the home 2. No insecticidesMortein Ant Sand 500grams $8.39 0.016/g 1. Controls ants outside 3. Natural essential oils

the home 4. Can use inside homeBaygon Insect Dust 250grams $8.53 0.034/gHortico Ant Killer Dust 500grams $6.24 0.012/g

Ant Attack 50ml Combat Ant Rid 50ml $2.66 0.053/ml 1. Indoor Ant Liquid 1. Non-toxic $3.49Baygon Ant Killer 200grams $4.68 $0.02 2. No insecticides

3. Natural essential oils4. Use inside the home

No-Moz Fly-Away 3x35grams Radience Citronella Candles 3 pack $1.99 Tea candle concept 1. Non-toxic $2.65Citronella Candle No-Moz Citronella Candles 300grams $2.49- .0083/g claims 1.5% active 2. Safe near foodNo-Moz Fly-Away 100grams $2.86 .0095/g citronella 3. 5% active citronella $1.90Citronella Candle Heat Beads Citronella Candle 300grams $3.99 0.0133/g (not claimed on pack)

No-Moz (small bucket) approx $2.99 0.015/hr 1. Claims 20 hours 4. 3x35grams approx250grams burning time 27 hours burning time

No-Moz (large bucket) $7.99 0.016/hr 1. Claims 50 hours 5. 100grams approx burning time 15 hours burning time

Aromatherapy Fragranced Haze Air freshener Candle 120grams $4.53- n/a 1. To help create moods $3.80Fun Candles 3x35grams $5.20 to relax, relieve stress

Parrot Aromatherapy Candles 300grams $3.59 and invigorateRomantics Aromatherapy $5.99 1. Awakens yourCandles 2 pack passion, etcAroma Scents 6 pack $2.99 1. To delight your

senses

AMSO Coles Stores May 2002Mentone Southland Coburg Nth Balwyn Hawthorn Malvern Glenhuntly Sandriham

Deodorant Blocks/Camphor/other small space

Cedar Fresh Moth Balls 16 12 0 9.33Hovex Camphor (2 pack) 28 44 32 84 56 48 48.67Fragrascene Deodorant Block 12 56 20 24 16 27Parry's Fresh Guard 24 44 32 20 20 48 31.33Parry's Deodorant block 44 20 80 0 28 16 31.33Wardrobe Wonder 8 12 4 0 8 6.4

Small Space Gel Air Fresheners

Haze Mini Scents Gel (2 pack) 52 36 0 64 38Glade Secrets (2 pack) 40 56 48Generic Gel 84 84 84Haze Crystal Air 36 20 24 40 40 48 33.6Ambi Pur Gel 32 52 24 48 48 40.8Generic Gel 60 112 86Glade Country Garden Gel 36 76 28 48 44 52 36 46

Citronella Candles

Radience Citronella Candles (3 pack)No-Moz Citronella Candle 12 20 24 8 0 24 14.67Heat Beads Citronella CandleNo-Moz Small Bucket Citronella Candle 8 8No-Moz Large Bucket Citronella Candle 16 8 12

Oil

Recochem Citronella Lamp Oil 8 8

Air Freshener/aromatherapy Candles

Haze Glass 0 56 16 0 12 20 17.33Parrot Aromatherapy candle 0Romantics Aromatherapy Candle (2 pack) 0 0Aroma Scents (6 pack) 0Parrot Tea Candles 0 8 8

Cockroach, Silverfish & Crawling Insect Market SurveyApr-02

Product Ave. Dist. AMSO Ave Vol. Ave Val. Ave Vol. Ave Val. %RSP per Month per month Per annum Per annum M'ktshare

Mortein Lure 'n' Kill Cockroach Baits $3.34 1866 26 48516 $162,043.44 582192 $1,944,521.28 16.89%Sureguard Mini Strips (3 pack) $8.89 1172 25 29300 $260,477.00 351600 $3,125,724.00 27.14%Mortein Moth & Insect Strip (3 pack) $7.69 1292 24 31008 $238,451.52 372096 $2,861,418.24 24.85%Cedar Fresh Moth Balls $4.83 1866 9.33 17409.78 $84,089.24 208917.4 $1,009,070.85 8.76%Hovex Camphor (2 pack) $1.64 1866 48.33 90183.78 $147,901.40 1082205 $1,774,816.79 15.41%Fragrascene Deodorant Blocks $1.43 662 27 17874 $25,559.82 214488 $306,717.84 2.66%Parry's Fresh Guard 100grams $1.62 230 31.33 7205.9 $11,673.56 86470.8 $140,082.70 1.22%Parry's Deodorant Block 50grams $1.17 630 31.33 19737.9 $23,093.34 236854.8 $277,120.12 2.41%Wardrobe Wonder 60grams $1.56 630 6.4 4032 $6,289.92 48384 $75,479.04 0.66%

265267.4 $959,579.24 3183208 $11,514,950.85

Tariff Heading: 3808 Tariff Heading

3808 Column Heading Definitions

Description INSECTICIDES, RODENTICIDES, FUNGICIDES, HERBICIDES, ANTI-SPROUTING PRODUCTS AND PLANT-GROWTH REGULATORS, DISINFECTANTS AND SIMILAR PRODUCTS, PUT UP IN FORMS OR PACKINGS FOR RETAIL SALE OR AS PREPARATIONS OR ARTICLES (FOR EXAMPLE, SULPHUR-TREATED BANDS, WICKS AND CANDLES, AND FLY-PAPERS)

HS Code SS Units Description Rate #

3808 INSECTICIDES, RODENTICIDES, FUNGICIDES, HERBICIDES, ANTI-SPROUTING PRODUCTS AND PLANT-GROWTH REGULATORS, DISINFECTANTS AND SIMILAR PRODUCTS, PUT UP IN FORMS OR PACKINGS FOR RETAIL SALE OR AS PREPARATIONS OR ARTICLES (FOR EXAMPLE, SULPHUR-TREATED BANDS, WICKS AND CANDLES, AND FLY-PAPERS): 3808.10 - Insecticides: 3808.10.10 --- Goods, as follows: Free (a) camphor; (b) fly-papers; (c) mosquito spirals and coils 22 kg Camphor 23 .. Fly-papers 24 .. Mosquito spirals and coils 3808.10.90 59 kg --- Other 5% 3808.20.00 - Fungicides 5% 39 kg Mancozeb 40 kg Other 3808.30.00 - Herbicides, anti-sprouting products and 5% plant-growth regulators 28 kg Goods wholly of, or with a basis of: (a) pentachlorophenol; (b) 2,4-dichlorophenoxyacetic acid, its salts or esters; or (c) 2,4,5-trichlorophenoxyacetic acid, its salts or esters 49 kg Goods wholly of, or with a basis of: (a) chlorsulphuron (C12H12ClN5O4S); or (b) metsulphuron methyl (C14H15N5O6S) 50 kg Other 3808.40.00 57 kg - Disinfectants 5%

Hunters Brands Sdn. Bhd.Standard Product Costing Sheet

Product: Ant Attack Liquid 100ml Size: 0.1

Formulation No: Date: 16/6/03

Units per packet: 1 No. Packets per Outer Carton: 6

Individual Unit Size: 0.1 Batch Size (Kg): 100

Part 1: Chemical Materials

Ingredient Quantity Price ExtensionEthanol 93 $2.500 $232.500Clove Oil 5.25 $35.000 $183.750Peppermint Oil 0.7 $38.000 $26.600Citronella Oil 1.05 $35.000 $36.750

$0.000$0.000$0.000$0.000$0.000$0.000$0.000$0.000$0.000

100

Batch Cost: $479.600 Cost Per Kilogram: $4.796

Wastage Cost per raw unit: $0.480 Factor Cost per Packet: $0.480

0.00% Cost Per Outer Qty: $2.878Ctn Cost per yield: $2.878

Ave. Yield/ Units per Batch: 1000 Date Last Updated:

Part 2: Packaging Materials

Item Unit Mea Quantity Price ExtensionAnt Attack Inner Box unit 6 $0.190 $1.140Ant Attack 50ml Label unit 6 $0.095 $0.570Ant Attack Bottle unit 6 $0.750 $4.500Ant Attack 50ml Outer carton unit 1 $0.450 $0.450

$0.000$0.000$0.000$0.000$0.000

Total Packaging: $6.660

Part 3: Labour

Mean Labour Cost $0.70Mean Fixed Overhead $0.00Mean Administrative Cost $0.00

$0.70 Part 4: Total Product Cost

Unit Carton % TotalMaterials $0.480 $2.878 28.11Packaging $1.110 $6.660 65.05Labour $0.117 $0.700 6.84Total $1.706 $10.238

Part 5: Selling Prices and Margins

Sell Price Gross Contribution % Margin Transfer Price -$10.24 #DIV/0! Sell 1: Whole/Distributor -$10.24 #DIV/0! Sell 2: Retailers -$10.24 #DIV/0! Sell 3: Export -$10.24 #DIV/0! Sell 4: Other -$10.24 #DIV/0!

Wholesaler Price Structure & Sales ProjectionWholesaler: National Location: Date: 1/6/03

1 2 3 4 5 6 7 8Super Roach Ant Ant Citro

Cit. candle Attack Attack (P) Attack (L) Fresh 500mlCarton Size 24 24 24 24 12

RSP (Unit) $3.50 $5.60 $4.20 $5.90 $7.90Margin 16.67% 16.67% 16.67% 16.67% 16.67%

RP (Carton) $70.00 $112.00 $84.00 $118.00 $79.00 $0.00 $0.00 $0.00Carton calculations:

Whl'slr Margin % 15.00% 15.00% 15.00% 15.00% 15.00%Whl'slr GP (RM) $10.50 $16.80 $12.60 $17.70 $11.85 $0.00 $0.00 $0.00

Gross Invoice Price $59.50 $95.20 $71.40 $100.30 $67.15 $0.00 $0.00 $0.00

A&P % 15.00% 15.00% 15.00% 15.00% 15.00%A&P Amount (RM) $10.50 $16.80 $12.60 $17.70 $11.85 $0.00 $0.00 $0.00

Net Invoice Price $49.00 $78.40 $58.80 $82.60 $55.30 $0.00 $0.00 $0.00

Media % 5.00% 5.00% 5.00% 5.00% 5.00%Media Amount (RM) $3.50 $5.60 $4.20 $5.90 $3.95 $0.00 $0.00 $0.00

Net Price (Before Mrkt) $45.50 $72.80 $54.60 $76.70 $51.35 $0.00 $0.00 $0.00Freight $1.00 $1.00 $1.00 $1.00 $1.20

Gross Margin % 54.29% 132.81% 178.86% 73.38% 39.30% #DIV/0! #DIV/0! #DIV/0!Gross Margin RM $15.66 $40.96 $34.38 $32.04 $14.15 $0.00 $0.00 $0.00

Cost $28.84 $30.84 $19.22 $43.66 $36.00

Curiosity

Exploration

Discovery

Excitement

Dedication

Mastery

New Skills

Confidence/ Self Esteem

Security & Purpose

Insight

Passion for the domain

Openness to Learning

Obsessive Persistence

Wisdom

Networks

Skills, Capabilities

Resources

Making Connection

Vision Platform

Time & Space

Strategy

Competitive Field

©Hunter (2012)

Find the right opportunity

Product Opportunity

Gap

Social Social and cultural trends

and drivers. Reviving historical trends. Influence of international

trends. Changing demographics. Styles, fashions & fads.

Economic Stage of economic

development. State of the economy.

Level of disposable income. Macroeconomic, general

industry conditions, financial &geographical environment.

Technology Current state of the art and

emerging technology. Re-evaluating and utilizing existing technology in new

areas. New knowledge.

Invention.

Government & Regulation

Government needs & priorities.

Restriction by Government. New laws & regulations and impact on product markets

and supply chains. Trade liberalization.

Our Inner Self Our upbringing, domicile outlook, experiences, interests, skills & abilities, assumptions, beliefs,

attitudes, perception, cognitive processes, patterning and biases, our inner psych and emotions, imagination,

energy, and passion, etc. The way we interact and stimulated by the

environment and make connections

Randomness & Unexpectedness A random or unexpected

event that creates an opportunity

Changes in any of the factors

New Knowledge or Information

Interrelated Factors

Ambition, sense of mission, attitudes, beliefs, values, available (and potential resources), self efficacy, networks, skills, competencies, and capabilities, etc.

Vision Platform

Micro-enterprise

Street Stalls

Corner Shops

Micro-entrepreneurs

Lifestyle Businesses

Independent specialty Retail SME Level

Large manufacturing

Independent Retail Chains

Large Business

Specialty Wholesaling

Automobile Manufacturers

Airlines

Universities

Modern Extensive Farming Enterprises

Large Pharmaceutical Companies

Banks

Mega Business

Mall Type Shopping Centres

Traditional Economy

Under-developed Economy

Developing Economy

Developed Economy

Post Industrial Economy

Characteristics of Traditional Economies

Subsistence agriculture based on traditional knowledge

Low level of urbanization, majority of population live in a rural and/or coastal existence

Unwillingness to accept new ideas and little innovation, even resistance to new ideas, lack of research and development

Extremely conservative society Very little credit finance capital

available, low level of savings and very immature cash economy anyway, little or no investment

Extremely low level of infrastructure, poor transport routes and communication

Feudal and/or corrupt form of government where resources may be diverted to unproductive projects

Very low level of education Very poor ability to recover

from natural disasters Low national vision

Characteristics of Under-developed Economies

Some simple infrastructure development

The adoption of basic modern farming techniques

Reliance on natural resource factors to create new industries, i.e, fertile land and favourable climate for specific agricultural and/or commodity crops, or abundant labour, etc. (It is these factors that provide first opportunities)

Very high dependence on imports Fragmented markets that are yet

to segment A limited range of industries based

on cost advantages owned by an elite group of society

Usually highly regulated and restricted economy (though not necessarily)

Government tries to attract foreign aid and investment

Ability to allocate resources within economy not efficient at this stage

Very low rates of SME formation and high informal economy

Characteristics of a Developing Economy

An improving rate of saving leading to a higher rate of investment which becomes a driver of the economy

The acquisition of technology through JVs, licensing, education abroad, consultants, etc.

Through employment growth local incomes grow and begin a surge in consumption

There is a shift from rural to urban areas in search of employment and opportunities

Higher emphasis on education Surge in infrastructure projects

that spur on economic growth through improved transport links, etc.

International markets entered and channels developed through OEM and contract production

Increasing wages, productivity, and employment leading to rising living standards

Increasing professionalization of workforce and management needed to compete internationally

Characteristics of Developed Economies

The economy relies almost completely on consumerism for growth and prosperity, often criticized for excess

High level of research & development

High level of industrial innovation

High market segmentation and specialization

Sophisticated logistic supply chains

Very high number of SMEs High level of firm and

individual compliance regulation

Vast majority of population resides in urban areas

Very stable institutional environment

Abandonment of elite and favored groups within the business sector where an egalitarian values prevail society

Very high value placed upon education in society

Characteristics of Post Industrial Economies

A rapid decline in the agriculture and industrial sectors (industries closing down as they lose international competitive advantage) and a rise in the services sector

Corresponding increase in the imports of consumer goods from lower cost producing nations

A decline in some urban areas and a rise in other parts (increase in inner suburban living)

Investment tends to be wealth based focusing on minimal risk projects like shopping malls

Innovative start-ups often come from new arrivals to the country (exception of Japan)

Increasing rates of unemployment and often shortage of manual labour as other types of careers are preferred

Usually a slightly declining population which signifies a declining workforce size, this lowers economic growth rates

Opportunity is connected with stage of economic growth

Traditional Economy

Under-developed Economy

Developing Economy

Developed Economy

Post Industrial Economy

Thailand

Malaysia

Still under-developed logistic systems Market segmentation still weak

Local firms exporting to the world

Increasing market globalization

Still factor and investment rather than innovation driven

Still some small remote areas

Still building infrastructure

Some wealth driven businesses (i.e., hotels) by elite families

Some rent-earning feudal elements

Changing Demographics (Rural-urban drift)

Population Growth

Increasing Education Increased

Knowledge

Imported Technology

Increased Investment

Increased Demand

Increased Saving

Increased Opportunities

Emerging Culture

New Skills & Capabilities

Learn as you go

Rapid Economic Growth Positive

geographic disposition

Those with natural talents emerge

quickly

Shifting Values Traditional/colonialization Developing Economy

Agriculture based lifestyle Connection with extended family Subsistence orientation Rural value base Acceptance of situation Little saving

Urban based lifestyle Cut off from extended family Planning orientation Changing to urban values Seek to improve situation Saving for capital

Social mobility – end of feudalism

New wealth – New poverty

1750 1775 1800 1825 1850 1875 1900 1925 1950 Bismarck instituted health

& accident insurance

Regulation instituted to control banking, railways,

business (a political invention)

The beginnings of governments using fiscal & monetary policy to control

the economy

Ocean going coal based steam ships

Whaling industry for lamp oil & whalebone Early beginnings of the petroleum industry

The use of steam technology for transport – the railways Britain The development of the American West

Establishment of cotton industry in American South – invention of the gin

The liberal age

Between the wars and collapse of

international trade

The post war growth years The industrial revolution in Great Britain,

Europe and the United States

Borden develops the process to produce condensed milk

Formation of DuPont by Eleuthère Irénéé du Pont

Development of canals in Britain and America

The invention of the telephone switchboard

Armed conflict forced American merchants to

manufacture

Development of the electronic telegraph

Formation of the Western Union Telegraph Company

First Sears Catalogue published

The decline of mercantilism

Refrigerated railway box cars (ice system)

Refrigerated railway box cars (mechanical system)

Henry Ford produces first mass produced automobile

Frederick Taylor developed “Scientific Management”

Use of water frame to spin cotton credited to Richard Arkwright

Spinning mule invented by Samuel Crompton

Flying shuttle invented by John Kay (1733)

Spinning Jenny invented by James Hargreaves

Development of the steam engine

Invention of the tire

Invention of the four-stroke engine

First self powered automobile

First air conditioner by Willis Haviland Carrier

Wright Brothers flew the first airplane

Discovery of aerodynamic principals by George Cayley

First manned glider by Otto Lilienthal

Invention of the jet engine

First useable electric light globe First electric power

distribution Invention of home refrigerator by Jacob Perkins

Automobile

Chassis Engine Tires Control & management

Systems

Braking System Environment

Steel

Suspension systems

Fuel

Compression &

Combustion

Rubber

Chemical Processes

Plantations

Road Rules

Roads & Carriageways

Alloys

Hydraulics

Electronics

Microprocessors

Time & History

Have a source of innovation

Sources of Opportunity (Opportunity Anchors)

Market Void Technology Infusion

Structural changes Resource Monopoly

Regulation Non-Innovative

Incongruities

Demographic Changes

Perceptual Changes

Invention

Incremental Improvement

Adaptation

New Processes

New Materials

Changes in Industry Structure

New Processes

Adaptation, combination &

integration

Physical Resource

Capability Resource

Legal Resource

Brand Resource

Scarcity Power

Cost/value Shift

Effect on Product

Effect on Process

Personal Service &

Consulting

Duplication

Extension

Copy/ Imitation

Strategies for each source of opportunity

Develop into a source of competitive advantage

Competitors

The Market Place

Values Expectations Emotions Recognition Potential

Emotional Connections

Influence of Product Lifecycle

The General Business Strategy

Influence of New

Technology Product Development - Invention (new to the world) - New to company product - New Style, variant or benefits

Patent, Registered Design, Proprietary

Knowledge (secrecy and non-disclosure agreements)

Process Development (manufacturing)

Patent, Proprietary Knowledge (secrecy and

non-disclosure agreements)

Market Strategy Market parameters (mix) Channels

Knowledge Image & Story (target)

Knowledge, Creativity, Branding, Trademarks,

Copyright

Figure 9.9. The General Tools of Intellectual Property in Business Strategy

Getting the right skills around you

Competencies Required During the Essential Oil Development Process

Screening & Bio-prospecting

Propagation & domestication or

introduction

Planting, cultivation & maintenance

Harvesting, Extraction and

wastage handling

New product development &

creation of value added products &

activities

Strategic, operations, finance and technical

management

Product & venture management

Marketing & commercialisation

Sustaining and growing the enterprise

(adapting & survival)

Output: Result/Performance, Sustainable and healthy enterprise or

a struggling and failing enterprise

Opportunity and technical competencies require:

Botany, ethno-botany, research ability, chemistry, bio-chemistry, analytical

chemistry. Market and specific technical product knowledge

Technical Competencies require: Plant physiology, micro-propagation, nursery

management, agronomics

Technical competencies require:

Bio-system engineering, Soil management,

entomology, plant nutrition, Agronomics, field

management, irrigation engineering

Technical competencies require:

Thermodynamics and plant physiology, heat transfer, distillation engineering,

chemistry, chemical engineering, agricultural

engineering, environmental engineering (waste

management)

Strategic, opportunity and technical

competencies require: Project management,

marketing management, chemistry, cosmetic

chemistry, perfumery/ flavour knowledge,

Packaging & design, manufacturing

engineering

Strategic, organizational, relationship opportunity competencies require:

Business strategic, industry knowledge, industry

networks, ability to raise finance, ability to plan,

implement & adjust, leadership, entrepreneurial

Strategic and organizational

competencies require: Administrative, financial management, technical management, strategic

management, personnel management, resources

management, entreprenuerial

Start-up Growth Stability

Various cognitive skills Research skills

Opportunity Competency

Entrepreneurial Competency

Relationship Competency

Strategic Competency

Management Competency

Idea Evaluation

Idea Discovery

Organizational Competency

Research skills Evaluation skills Decision making skills Networking skills Interpersonal & communications skills

Specific technical skills (product) Basic administration skills Resource gathering skills Interpersonal skills Business plan preparation skills Oral presentation skills Production engineering skills Organizational development skills Sales skills Promotional skills Start-up finance skills Networking skills Decision making skills

Various Cognitive Skills

General management skills Interpersonal skills Accounting skills Finance skills Cash-flow management skills Marketing skills Sales skills Human resource management skills Logistics management skills Manufacturing management skills

Leadership Competency

Creativity Competency

Entrepreneurial Start-Up Competencies

EntrepreneurialStrategic

Conceptual

Opportunity

Commitment

Management

Managed Company Competencies

Entrepreneurial

Strategic

Conceptual

Opportunity

Commitment

Management

Sub-Skills Book-keeping Product costing Administration Presentation Sales Business plan preparation Data-entry Negotiation Budgeting Empathy Imagination Sense of fairness Interpersonal Technical (product) Promotional Teamwork Communication Accounting procedures Self reflection Networking Ability to inspire Deal with uncertainty Resource gathering Paperwork

Skills Marketing Production Scheduling Delegation Product design Finance Planning Sourcing Human resources Organizational Decision making Finance Operational

Personal Competencies Entrepreneurial competency Managerial competency Opportunity competency Leadership competency Creativity competency Conceptual competency Ethical competency Strategic competency Emotional intelligence Commitment competency

Enterprise Capabilities New Product Development Logistics capability Manufacturing capability Management capability Growth capability Strategic capability Learning capability Marketing capability Innovation capability Technology capability Organizational culture

Dynamic Capabilities

Strategy Anchors

Competency Present Not Present Comments

Technical 1. Botany2. Plant Physiology3. Chemistry/Analytical4. Micro-propagation5. Nursery Management6. Environmental Engineering7. Chemical

engineering/thermodynamics/etc8. Soil Management9. Agronomy/plant nutrition/field

management10. Entomology11. Irrigation engineering12. Agricultural Engineering13. Regulation knowledge14. Cosmetic chemistry/food etc15. Perfume/flavours16. Packaging & design17. Consumer product manufacturing

Basic

BasicExperienc

eExperienc

eExperienc

eBasicBasicBasic

LowLowLowLowLowLowLowLowLow

Need guidanceNeed assistanceNeed guidance Assistance AvailableCan design Need appraisalUse contractorUse instituteReplicated experimentsWith EnvironmentUse contractorCan developNeed assistanceLearn from experienceUse contractor

Opportunity/Entrepreneurial/Commitment1. Able to screen environment for

opportunities2. Able to evaluate opportunities3. Commitment level

YesYes

Passionate

Need to see realistically

Relationship1. Have relationships in target

industries2. Have relationships in research

area3. Have relationships in finance

industry

A fewA fewSome

Organising/Management1. Able to project manage2. Able to administrate3. Able to financially manage

operation4. Able to undertake research5. Able to keep key people

motivated

YesYesYesYesYes

Strategic1. Understand dynamics of market

and industry environment2. Able to plan for a business

within this environment3. Able to implement, evaluate

and adjust plans in this environment

YesYesYes

Believe so but not tested

Resources

Tangible Resources Intangible Resources

Product Designs

Knowledge

Intellectual property

Research & Development

Creativity Brands

Team Specific Experience

Reputation

Organizational Routines

Relationships

Passion

People

Plant & Equipment

Property & Location

Technology

Cash & Other Finance

Access to inputs

Business model

Time

Organizational Culture

Inputs are combined, transformed and converted

into capabilities. Organizational capabilities

are used to support strategies. The objective is to create value in line with

the value proposition through defined distribution

channels to generate a revenue stream.

Distribution Channels

Strategies

The Venture People Plant & Equipment Property & Location Cash & Other Finance Technology Product Designs Knowledge Brands Reputation Relationships Organization Culture Access to inputs Intellectual Property Research & Development Creativity Team Specific Experience Organizational Routines Passion

Inputs Outputs

Perceived problem observed and value

proposition proposed through a product and/or service

Product/Service

Revenue Stream

Feedback influences inputs such as reputation, R&D direction, available inputs, level of technology, etc

Determine your needs

Enterprise Capabilities

Specialized Resources

Applied Resources

Generic Resources

Input Resources Raw Materials Various Support Services Consultancies Fixed Costs

People

Property & Location Cash & Other Finance

Technology

Business Model

Intellectual Property

Knowledge

Brands

Reputation Organizational Culture

Organizational Routines

Basic Plant & Equipment

Office Space

Product designs

Proprietary Machinery

Creativity Team Ind. Experience

The Resource Pyramid

Wool Processing

Raw Woolen Materials

Skilled Employees

Incoming Trends & Ideas

Fabrics & Fashion

Skilled Designers

Technology (Universities & Research

Institutions)

Suppliers

Dye & Chemical Industries

International Supplier Chains Wholesalers

Retailers Domestic Supply Chains

Retailers

Wholesalers

Deve

lope

d Fir

m

Valu

e Cha

ins

Finance Houses

Support Businesses All kinds of Knowledge

Perceived Opportunities

Rese

arch

Strategies

Spin-off Opportunities

Critics & Media

Regulatory

Competitive Environment (Direct & Indirect Competitors)

Decision Maker

Inside the firm Father

Accountant

Bank

Customer

Employees

Property Owner

Competencies

Friends

Expectations

Suppliers

Auto Parts manufacturers

Automobile manufacturer

Coordination, Kanban, JIT, etc.

Independent Dealerships

Sales coordination, Custom Ordering

Service Centres

Consumers

In constant communication about service times and

other car owner information Road Side Assist

Schemes

Arrange the necessary Resources

Think about how to develop a new product

Industrial

Industrial Markets These markets usually buy

materials and components to manufacture other products, or supplies necessary to run a

business. Manufacturers usually deal directly

with industrial customers or act through distributors.

Consumer

Consumer Markets Consumer products include automobiles, white goods, electrical goods, fast moving consumer

products and services, including financial, insurance, travel, etc.

Companies market and sell direct to consumers, through distributors and/or retailers, etc. Many manufacturers tend to

service national markets, while many service businesses are localized, except where companies have overcome fragmentation.

International

International Markets An international market could be any type of the other markets excepting it

is in a remote location from the enterprise.

The entering firm will have to decide whether to enter directly through a fully owned

subsidiary, joint venture with a local partner, utilize a distributor or other representative,

license or franchise the product or service to a local company. The enterprise will also have to adapt its strategies to the local ways of doing

things.

Resale Resale Markets Second hand goods, some

internet sites like eBay, Auctions & Real Estate, etc.

Sales often undertaken by intermediaries, pricing varies

according to demand & supply, power in market according to scarcity

Government

Government Markets Usually high volume capital &

service products. Goods usually decided upon through issuing specifications and tenders. In

some industries the government market can be up to 60% of the total market. This market although decisions made

through tenders, strategies based upon building strong relationships necessary.

Types of Markets

Competitive Rivalries Lemongrass quick yield and straightforward to cultivate and distil – expect high elasticity of supply from both existing and new producers. Producers of substitutes very aggressive

Bargaining Power of Suppliers Collecting the most suitable planting material require effort. Extraction and harvest .technology needs to be acquired or developed Analytical equipment or service maybe expensive/remote.

Substitutes Citral (main constituents) can be produced from a number of chemical feed stocks. Alternative oils (litsea cubeba) cost much less to produce. Lemon myrtle oil much smoother and acceptable to end users Many alternatives to lemongrass in product formulations.

Trends & Technology Alternative technologies to steam distillation (CO2) can make much smoother oil but will increase capital needs greatly. Natural, exotic, organic, FAIRTRADE could increase oils popularity (?) if seen as exotic.

Substitutes

Tre

nd

s &

Te

ch

no

log

y

Bargaining power of buyers

Bargaining power of suppliers

Competitive Rivalries

Re

gu

lati

on

Regulation SCCP placed lemongrass oil under scrutiny as a cosmetic ingredient in EU.

Industry Competitors

Intensity of Rivalry

Bargaining Power of Buyers Currently small item of trade in flavour industry, strong relationships with established producers.

Opportunities

Cognitive Bias

An identified market where enterprise resources and competencies will be able to exploit

The potential opportunity will have a large enough market size to sustain the enterprise

The enterprise will be able to take advantage of this opportunity better than any other competitors

Outside elements in the supply chain will support the enterprise

Any factor or group of factors that will allow the enterprise to grow in a

sustainable manner within the market environment

Threats

Competitors identifying the same opportunities and enacting upon them

The regulatory environment and potential changes within it

Inability to penetrate the existing supply chain and make alternative strategies

Dependence on survival from a single or very few customers

Depending on a single product for total Any factor or group of factors that may potentially hinder enterprise growth in a sustainable manner without any contingencies verse

acts of God, bad weather, drought, etc.

Strengths

Personal and enterprise competencies, knowledge & experience that can be utilized for the benefit of the enterprise

Facilities, infrastructure, financial backing & liquidity, long timeframe view

Ability to learn through research and experimentation

Any network connections with industry and access to the supply chain for both information and marketing

Ambition and vision (but not delusional), focus & commitment

Ability to innovate technically, market and organizational wise

Any factor or group of factors that can assist the enterprise gain

competitive advantage over its competitors

Weaknesses

Competency gap Short term timeframe, no fall back position if positive results

delayed or there are technical or market failures Poor infrastructure that hinders production or marketing Shortage of funds to undertake project to completion Qualified or lack of commitment by any key people within

organization Lack of network, knowledge and access to supply chain

Any factor or group of factors that can hinder the enterprise gain competitive advantage over its

competitors

Opportunities are seen with bias according to knowledge,

experience, wisdom, educational background, market knowledge,

competencies, etc.

Risks/ Uncertainties

Any factor or groups of factors

that make outcomes uncertain

in the future

Any factor or groups of factors that may lead to venture failure

High Market Growth Low Strong Weak Relative Competitive Position

Crude Essential Oil Steam Distilled

Essential Oil under

CO2 extraction

Cosmetic production for international

market

Organic Cosmetic

production for international

market

Essential Oil Based Agro-

chemical

Organisational Capability Creative, Opportunity, conceptual, strategic, Learning, Organisational, financial, Technical,

Marketing, Networking and Commitment Competencies

How the Business is Currently Performing

The base for potential future Development

Resources Existing and Available to the Business

The Set of Potential Opportunities

Tim

e a

nd C

om

pany

Evo

lutio

n/C

han

ge

Enterprise Performance

Personal Objectives

Stre

ngth

s and W

eaknesse

s T

hem

e Personal Resou

rces Netw

ork Product M

anagem

ent Fin

ance

4 Ps & S

kills Facilities A

ttributes

Exte

rnal In

fluence

s &

Thre

ats

M

arke

t E

conom

y Reg

ula

tion T

echnol

ogy

P

ositio

n Soc

ial S

ituat

ion Chan

ge &

Com

petition

A

spirat

ions

D

evel

opm

ent

Key internal influences on the strategic

process

The process of product/market development

Key external influences on the strategic

process

Competitive Position

Cognitive Bias

Structural/ Support Strategies

Interventional Strategies

Range of Generic Strategies

Convergence

Divergence Aspirational Brand Strategy

Duplication & Replication

Creating Customer Utility

Tactical Combination

Extension

Synthesis

Segmenting

Differentiation

Creative Imitation Market Leadership New Business Model

Imitation

Cost Advantage

Technology Superiority

Overcoming Fragmentation

Dynamic Strategy

Opportunity

Manifestation as a set of strategies (Product, Channel, Business model, etc.)

Factors and causes leading to the Opportunity Conditions

(Social, Economic, Technology, & Regulatory Conditions)

The Sources of Opportunity (Market Void, Technology Infusion, Structural

Changes, Resource Monopoly, Regulation & non-Innovative Sources)

Resources

Resources

Resources

Resources

Resources

Capabilities

Capabilities

Capabilities Capabilities

Capabilities

Opportunity

Foundation (Capacity Building) Strategies

Finance, Gearing, Asset Management, Location

Decisions, Identity, Mission, etc.

Enterprise capabilities

Administrative (Support) Strategies

Financial (operational), Procurement, Logistical, Human Resources, Operational Policies,

Work Procedures, etc.

Operational Strategies Competitive strategies: Marketing,

Sales, Advertising, Channel, New product development, Intellectual

property, supply chain, etc. General Operational: Manufacturing, product & customer service support,

accounting, etc.

Tactical Actions & Behavior

Field Promotion, Discounts, Incentives, Selling, Product

Styles, etc.

Sales Revenues, Profitability, Other market Measures, Growth, Sustainability, Survival

Things are always a

mystery until we get there

Business PlanOr

Business Model?

Consumers

Positioning

Targeting

Segmentation

Market Identification

The Causation Process

Product idea to compete with

existing products in market

Attempting to create

some form of

competitive advantage

Opportunity

Refining the Idea

Concept

The set of possible ideas/products/markets

The Effectuation Process

Potential new novel product extending

market field or creating a new one through existing or new channels and business models.

Vision & Goals

Modified Vision & Goals

Actual Path & Performance

Wind in the case of a yacht or environmental turbulence in the

case of a firm.

X X X X

Evolved Strategy

Tactics Applied

Trial and error tactical use with various levels of Success/Non-Success

New Products Existing Products

Existing Markets

New Markets

Causation

Effectuation

Opportunity Shift

Present Networks

Needed Networks Realignment of Networks

Present Strategies

Needed Strategies Realignment of Strategies

An identified opportunity in

the past

Newly identified opportunity needing

different goals, strategies,

competencies, skills, resources and

organization than previously

Time

Present Organization

Present Skills & Competencies

Present Resources

Needed Organization

Needed Skills & Competencies

Needed Resources

Reengineering of Total Organization

What strategies are required to successfully

exploit the new opportunity and meet the organizations new goals?

Realignment of Organization

Realignment of Skills & Competencies

Realignment of Resources

What type of organization and business model is

needed to support the selected strategy?

What skills, competencies and technologies are

needed to support the new business model

and strategy?

What resources are needed to support

skills, competencies, technologies, new

business model and strategy?

What new goals are needed to exploit

the newly identified opportunity?

The Opportunity Landscape

New Goals Present Goals Setting of New goals

What networks are needed to exploit the opportunity, acquires

skills, technologies and resources, support the new business model

and strategy?

Com

petiti

vene

ss

An exciting low cost airline to fly

on

Young & invigorating image

Baggage

No baggage transfers No connection with

other airline baggage services

Baggage surcharge Auto-check with no

baggage

Internet Bookings

Limited use of travel agents

Fast Aircraft turn-around times

Not burdened by traditional air and ground

crew procedures No connection with other

airlines

Standardized aircraft to cut down on

maintenance costs

Extra means of revenue

Paid snacks & meals Seating

Blankets Computerized ticketing

methods Related businesses -

hotels

General savings on overheads

Low landing charges and terminal fees

Headquarters located at airport terminal

Young good looking air & ground crews Modern and trendy

aircraft interiors Advertising image

The Wright Bros. developed the airplane through effectuation (trial & error). They developed a new theory and a new invention.

It was only when a use for the new

invention was found that an industry

developed.

Could the Wright Brothers developed a business plan when they first decided to build a flying

machine?

At the time this looked just as viable

Sometimes it only comes down to vision

Idea/Product/Concept1. What is the idea/product/concept?

2. Is there a consumer need for this idea/product/concept?3. Do many people need this idea/product/concept?4. How do consumers cope with their problem/need/want without this idea/product/concept now?

5. Will this idea/product/concept provide a better solution to the consumer than what is already available?

Marketing1. Who are the potential customers and target market?2. How many potential customers are there (how large is the market)?3. Who are the competitors (and potential competitors)?4. How are your competitors doing in the market (decline, stable, growth)?5. Is it their major business (do they rely on other forms of business)?6. How will you promote the product (what advertising and promotion strategy)?

7. What will be your pricing strategy (what revenue over cost)?8. Do you have the ability to reach potential customers?

Skills

1. What skills do you need to realize the opportunity?

2. Do you have these skills or can they be acquired?

3. Are these skills commonly available to all competitors (and potential)?4. Can I manage this venture?

Networks

1. What networks do I need on the supply side?

2. What networks do I need to obtain resources (materials, people, finance)?3. What networks do I need on the sales side?

4. How crucial are these networks to success/failure?

Resources

1. What resources do I need?

2. Are these resources available?

3. Are these resources within my reach?

4. Are these resources available to everyone?

5. Will I have enough financial resources to sustain this venture?

Product

1. Does the product solve a consumer problem, or satisfy a want or need?2. Is this problem, want or need an important one?

3. What are the alternative solutions to the consumer?

4. What is the cost to the consumer of these solutions?

Product/Strategy

1. Can I develop a product/strategy that is different from others?2. Will this different product/strategy be valued (or provide benefits) to consumers?

The Vision Platform Social demographics, culture,

generational outlook, experiences, Cognition, emotions, the psych & psychotic, & cognitive traps, etc.

Time & Space Stage of economic, social,

legal, & knowledge development,

The Ability to Make Connections

Cognition, creativity, problem solving, creative tools

The Sources of Opportunity

Market Void, Technology Infusion, Structural Changes,

Resource Monopoly, Regulation, Non-Innovative

The Resource Base

Personal Skills & Competencies,

Enterprise Capabilities

The Opportunity

Gap

The Ability to Build Networks

The Competitive Environment Influence of suppliers, customers,

complementary goods & substitutes, barriers to entry, the competitive field & influence of social,

technology, economic, & regulatory factors

Strategy

Hunter (2012)

History

Thomas Edison

Who was the inventor of the light bulb?

Sir Joseph Wilson Swan

What entrepreneurship

is really like

PROFILE OF SMEs

144

Manufacturing, Manufacturing Related Services and Agro -based Industry

Companies with annual sales turnover not exceeding RM25 million OR full time employees not exceeding 150

Companies with annual sales turnover not exceeding RM5 million OR full time employees not exceeding 50

DEFINITION OF SMEs

Services, Primary Agriculture, Information And Communication Technology (ICT)

145

LARGE

MEDIUM

SMALL

MICRO

4,542(0.8%)

12,694(2.3%)

100,561(18.2%)

435,052(78.7%)

TOTAL ESTABLISHMENTS: 552,849Census of Establishments & Enterprises 2005 DOS - Dec 2005

TOTAL ESTABLISHMENTS OF COMPANIES BY SIZE

146

39,376(7.2%)

Services

474,706

(86.6%)

Agriculture

34,225

(6.2%)

TOTAL SMEs : 548,307

Census of Establishments & Enterprises 2005 DOS - Dec 2005

Manufacturing

DISTRIBUTION OF SMEs BY SECTOR

147

8.4

19.7

3.9

14.5

33.9

8.1

11

7.9

0.1

0

10

20

30

40

50

60

G DP E mployment T otal E xport

Manufacturing S ervices Agriculture

CONTRIBUTION BY SMEs

(%)

contribution

Preliminary Statistics by DOS - Dec 2005

148

Most Entrepreneurs look like this

Most Businesses are like this

The high growth venture is largely a myth:

the exception

Most people like

to take things easy

Global

National

City

Neighbourhood

Sectional Interest

Today Next Next Next Life Children’s W Week Year Few Years Time Lifetime

Space

Time

Very few people think far away

No innovation

Innovation is almost free

Tissue Culture

Microwave Oven Pressure Cooker

Chemicals & Spoons, etc. Glassware

Locked into old paradigms of business

Business practices

Presetnation

Logistics

Selection & presentation

Food handling

Why let the train leave without you?

Step 1: Examination of the product to determine characteristics. a) What type of process was it manufactured by? b) What would be its formulation/recipe? C) What materials are used in its manufacture?

Product from Market

Product Technical & Market Specifications

Step 2: Develop a full technical specification for the product and production process.

Step 3: Include any improvements to the product

Probable Product Production Process

Product Reengineering Process

(Process for FMCG Product)

Laboratory Development & Production Trials Step 4: Laboratory

development of formulation/recipe and development of production process

Product Trials (Both consumer use &

production)

Return to lab. For any modifications

Step 5: Undertake consumer product testing and production trials

Completed Product

Most new businesses fail

• Insufficient Capital• No business plan• No managerial focus• Inadequate records• Lack of profit focus

• Cash flow• Inadequate systems• Failure to plan for taxation• Inadequate resource management

• Break even point

• Insufficient Sales

• Failure to develop new products

THERE IS NO SUCH PERSON AS AN ENTREPRENEUR

Cultural Paradigm

Pee

r g

rou

ps m

en

tors

, s

oc

iety

Chance & Fate

Paradigm Personality Paradigm

Strategic Paradigm

Creativity Paradigm

Action Paradigm

Interpersonal Paradigm

Skills Paradigm

Infl

ue

nce o

n o

the

r p

ara

dig

ms

Co

mm

itm

en

t a

nd

eth

ics

So

cia

l &

Ed

uca

tio

nal

Bac

kg

rou

nd

Ide

nti

fy a

nd

ex

plo

it

op

po

rtu

nit

ies

Res

ou

rce g

ath

eri

ng

Cu

sto

me

r o

rien

tate

d

Sen

se o

f ac

hie

ve

men

t

Mo

tiv

ati

on

&

dete

rmin

ati

on

Ad

ve

rsit

y t

o r

isk t

akin

g

See

k &

id

en

tify

o

pp

ort

un

itie

s

Inn

ov

ati

ve

In c

on

tro

l o

f th

e

bu

sin

es

s

Ab

le t

o in

sp

ire

peo

ple

Ab

ilit

y t

o w

ork

w

ith

pe

op

le

Netw

ork

ing

Exp

eri

en

ce

Tec

hn

ica

l s

kil

ls

So

ft s

kil

ls

Tale

nts

& a

bil

itie

s

He

alt

h,

pe

rso

nal e

ne

rgy,

fo

cu

s,

tim

e o

rie

nta

tio

n,

ori

en

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on

to

gett

ing

th

ing

s

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ne

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g t

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ve

rall

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, a

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to

w

eig

h t

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up

in

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ic w

ay

En

viro

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sp

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late

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&

se

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, te

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, id

ea

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, so

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on

fi

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En

vir

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men

t, p

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, fa

mil

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cu

ltu

re, re

ali

ties, m

oti

vati

on

, d

ed

icati

on

, self

assu

ran

ce,

self

perc

ep

tio

n, m

ora

lity

, re

sp

on

sib

ilit

y,

acco

unta

bilit

y, a

dvers

ity t

o

risk t

akin

g (

co

ura

ge), sta

nd

o

n b

eli

efs

, le

vel o

f co

mfo

rt

Sele

cti

ng

th

e r

igh

t p

eo

ple

, te

am

/in

div

idu

al

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on

, vie

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ork

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, in

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al

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tlo

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, d

om

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ce/s

ub

mis

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Up

bri

ng

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an

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am

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ba

ck

gro

un

d,

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uc

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on

an

d

life

exp

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en

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s, s

tre

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ful

un

ex

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eve

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, fa

te

So

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fa

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pe

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&

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de

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um

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on

s,

va

lue

s,

be

lie

fs, le

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, m

en

tors

, p

erc

ep

tio

ns

Po

sit

ive

& n

eg

ati

ve

e

xp

eri

en

ce

s, s

ucc

ess

&

fail

ure

, e

du

ca

tio

n &

s

kil

ls, s

oft

sk

ills

, ta

len

ts

an

d a

bilit

ies

Attributes of the Entrepreneur

Behavior

Influencers

“Who I am” “What I do”

Sense of self. ego, encoded

assumptions, beliefs and values.

Expectations, goals, self regulating restraints, etc.

The Psych

Personality Traits

Feedback

Ou

tco

mes

Prior Knowledge

Wo

rld

an

d w

ork

exp

erie

nce

, ed

uca

tio

n, c

ult

ure

, fam

ily u

pb

rin

gin

g, e

tc.

Pe

rcep

tio

n Alertness

Motivation

“How I feel”

Skills

Strategic Outlook Creativity

Propensity to Action

Talents and Abilities

Interpersonal

Personal Paradigms

A Trigger Situation

Motivational Trigger

Idea GAP

External event or internal feelings

The Potential Socio-psycho Factors that Influence Opportunity Discovery and Behavior.

People start businesses for the wrong reasons and mistake something they like for an opportunity

Entrepreneurship is a stressful occupation

Loss of freedom

Most entrepreneurs are worse off than of working for someone else

Size

Pre start-up Start-up Growth Maturity Decline or rebirth

Profit

Sales

An era of complacency and

rigidity

Mid-life crisis

Regeneration

First entrepreneurial phase Possible mature entrepreneurial phase

Decline

Usually time of increasing

organizational rigidity

Usually NPD strategies

Enterprise begins to take a ‘past orientation’

Entrepreneurship is just a stage in the firm lifecycle

There is no such thing

as a success formula

Many ideas work great

in retrospect

Most people are not risk takers

Its about new product development

Not invention

Entrepreneurship Curriculum & Teaching

Without

Relevant Technology Knowledge & Training

The education system is hung up about measuring

intelligence

Is entrepreneurship about intelligence or creativity?

What’s intelligence go to do with it?

Entrepreneurship has very little to do with intelligence. It

is all about creativity.

Otherwise one would have to be a professor to start a

new business.

Unlike intelligence creativity

can be taught

New Ideas Unknown Opportunities

Developing Strategies Solving Problems

Surrounding Environment

“Domain” &“Field”

Environmental Factors conducive

to creativity

Environmental Factors that

hinder creativity

Motivational Trigger

Internal Influencing Factors

Focus & Attention Creative Sensitivity

Energy Emotion Curiosity Empathy

Confidence Discipline Interest Passion

Prior Knowledge

Perception

Patterning

Patterned Thinking Processes

Thinking Processes

(Self Organizing System)

Cognitive Thinking Tools & Styles

Creative Product

Applied Thinking Tools,

Manifestations & Elaborations

Domain & Field Acceptance/

Rejection

Memory Heuristics

Belief Imagination

Fantasy Experience

Tacit Knowledge

Hunter (2012)

The Metaphoric Concept of Creative

Intelligence

Perfumer Excellence

Knowledge (vocabulary) of

odorous substances

Knowledge of potential strengths,

weaknesses and applications of

odorous materials

Knowledge of outstanding

fragrance creations within the domain

Practical knowledge & experience

Olfactory sensitivity

Time, patience, perseverance

Interest and passion

Imagination

Knowledge Base Emotion

Cognitive Skill Creativity Tool

Process & Product

Curiosity, enquiry and

experimentation

This is a product of creativity

This is a creative man

PassionateAll successful in there own way

Thank You