Assignment 23A- Unfair Advantage

1) Domain Expert- This is an extremely valuable resources within my venture. Having an individual who possesses knowledge within my field can be a huge advantage for my product. The domain expert is not a rare component to have, as most products or services have a domain expert for their product. It may or may not be difficult to copy this aspect of my product. The information that the domain expert possesses may be obtained by others as well, however, the way the information is presented may not be as easy to copy. There are other resources that may provide the same benefit.

2) Marketing Expert- The marketing expert is an extremely valuable tool to possess, especially when my product can be used by various individuals. The marketing expert is not rare because most products or services will have someone who specializes in marketing within their department. This aspect can be hard to copy because there are so many different aspects of marketing, that one can take a new approach each day. I think that it can be difficult to find resources which will easily replace a marketing expert. This is a specialized field that one needs to have experience in to become an expert.

3) University/School- The school that I sell my product to will be extremely valuable to the success of my product. I do not think that this aspect is rare because of the vast amount of  schools available all around the world. However, I do believe that the respective school will be difficult to imitate. Each university has their own special way of doing things and their unique way to put their touch on something to make it different. Also, depending on how successful my product is within the school, the school may or may not be substitutable. However, it will more than likely be substitutable.

4) Students- The students are very valuable to the service that I am provided because they are my primary customers. Students are not rare, they are found all over the world. This resource is easy to copy because students are available in a vast amount of areas. The actual individuals will be difficult to copy, but the concept of students is not difficult to imitate. There are not many replacements to this group, if the students are not accepting my product well, then I will have to move to a completely different target market.

5) Personal Experience- This is an extremely valuable resource as it will allow me to connect with my target market and understand everything that they are going through. It will also help me understand how they think and why they make the choices they make. I would consider this resource rare, because not every business is able to connect with its customers from personal experience. However, I have been through many of the same situation that my target market has gone through, so I will be able to connect with them. My personal experience is not easy to copy, it would be extremely challenging for someone to have personal experience that is similar to mine. This aspect is not substitutable, it is difficult to replace.

6) Financial Managers- Financial managers are an extremely important resource to my service because finances are the focal point of my product. Financial managers are not rare, there are many of them around the world who study finances and handle the financial aspects of the respective business. I think that it is difficult to copy what a financial manager does, because their position usually requires a high level of expertise. Financial managers may be substitutable by other financial mangers who possess similar knowledge, however I do not feel that their position is easily replaceable. This is a very skilled position which requires a lot of education and training.

7) Existing Services- Existing services can be valuable to me at certain instances, but I do not feel that they are extremely valuable. This aspect is not rare, most services have existing services which performed similar duties to what they are trying to perform. Depending on various legal aspects, it may or may not be easy to copy existing services. Due to trademarks, patents, etc. it can be very challenging and illegal for someone to imitate the services of another company. However, many companies do perform similar services. This aspect is not very substitutable.

8) Potential Marketing Area- This is an extremely valuable resource to my product. The geographical locations that I am able to reach with my product is a vast amount. This is a rare component, because there are many products that have geographical limitations. This is not an easy component to copy, it all depends on the product or service. This aspect is not substitutable, having is a large potential marketing area is a great resource to have.

9) Individuals who are not students- I believe that this is a valuable resource because real life examples can always spark a change within an individual. This aspect is not rare as most businesses are able to apply real world scenarios and examples to their product or service. This resource is fairly easy to imitate. Also, this resource is not substitutable.

10) Ability to Connect- I feel that the ability to connect with those who are a part of my business I an extremely valuable resource. No one wants to feel like their opinion isn't valued or like no one is listening to them. I think that my ability to listen and understand will take me a long way. This is a rare component because not all individuals possess this capability. It is not easy to imitate, this is a skill that I am working on and training to get better at each and every day. This trait is not substitutable, this is a skill that is difficult to replace.

I think that my most important resource is the ability to connect. I feel that if you can't connect with your employees nor your consumers, then it will be difficult to get people to buy into what you are trying to do. The ability to connect is an essential resource and it can truly affect the organizational culture.