The pathway that the entrepreneurial has used is acquiring an existing venture. Because Home ground service is an organization that already exist when Clark firstly join.
Another pathway that she have used is establishing a social venture. because home ground is a social charity. • What type of innovation/s were their ventures initially based on? What were the sources of their innovations? Have they introduced additional type/s of innovation in their business since start-up? What is/are the source/s of their recent innovation/s, if any?
There are a few of innovations that Clark have used, for example extension, the new use of different application of an already existing product, service or process. Or duplication, the creative replication of an existing concept. And synthesis, the combination of existing concepts and factors into a new formulation or use.
• Did the entrepreneurs face any particular legal and/or regulatory challenges with regard to their venture? If so, how did they overcome them?
“sometimes things can be hard when you are offering help to the others, but they are not willing to take it.” We was trying to help one of the family to move in to a motel for a short period because they are homeless, and they have a 5 month old baby with them, however, the parent of won’t agree to go any where if we get them an apartment, because they don’t want to go to live in motels anymore.
And it is also very difficult that to find sponsor because we are a charity organization.
• How did the entrepreneurs address the five key areas for assessing the feasibility of a new venture such as, technical, market, and financial feasibility, organizational capabilities and competitive analysis (refer to figure 9.3 in your text book)
• Did the entrepreneurs prepare business plans and what benefits and challenges did each of the entrepreneurs face for developing or not developing a business plan for their venture?
“Yes, we as a charity organization we need to prepare a business plan or a proposal to show our sponsor very year.” Clark told me that if you just went up to their office and ask for money no body would really want to help you. It is hard to persuade people to donate a big amount to you with out a reasonable plan. Especially when you are looking for new sponsors, because they have never experience something like this, its is unlikely for them to donate to you. Also, we have competitions between charity organizations, if the plan is not good enough, the sponsor might donate