Bargaining Power Of Suppliers | Porter’s Five Forces Model

An important force within the Five Forces model is the bargaining power of suppliers. All industries need raw materials as inputs to their process. This includes labor for some, and parts and components for others. This is an essential function that requires strong buyer and seller relationships. If there are fewer suppliers or if they have certain strengths and knowledge, then they may wield significant power over the industry.Bargaining Power of Suppliers - Porters 5 forces

In this article, we will look at 1) understanding suppliers, 2) bargaining power of suppliers, 3) effect on target market, 4) example - the diamond industry, and 5) example – the fast food industry. Continue reading

Advancements in Healthcare and Medicine | Towards a Brighter Future

Throughout human history, each passing century has brought revolutionary changes to healthcare and medicine. Between 1914 and 2014, we have extended the average human life expectancy rate by approximately 25 years, due to discoveries like penicillin (in 1922), inventions like the cardiac pacemaker (in 1952), and achievements like the eradication of smallpox (1980). In this time period, we have learned to repair hearts, mapped DNA, and even performed a partial brain transplant, accomplishments, once inconceivable, but now commonplace. Conforming to the trajectory of history, new advances in science, engineering, and computer technology will revolutionize healthcare and medicine over the course of the next century. The roots of this change are already visible today.

Telemedicine healthcare

© Flickr | Intel Free Press

In this article, we will explore: 1) recent trends and advancements in healthcare & medicine, 2) gene therapies using stem cells, 3) robotics in medicine, 4) electronic medical records, 5) biotechnology, 6) telemedicine, and 7) other promising trends in healthcare & medicine.  Continue reading

Threat Of New Entrants | Porter’s Five Forces Model

Within the five forces model, the factor of Threat of New Entrants analyzes how likely it is for a new entrant or entrants to enter the competitive environment a company operates within. There is less chance of this happening if there are at least some form of barriers to entry into the industry such as strict regulations, need for specialized knowledge or high investment requirements. Conversely, there is less chance of new companies entering the market if there is significant profit potential and not many obstacles in the way to achieving this profit.

Porters 5 forces - Threat of new entrantsIn this article, we will look at an 1) introduction to the threat of new entrants, 2) determining the nature of the threat, 3) responding to new entrants – strategic entry deterrence, and 4) an example of amazon.com and the threat of new entrants. Continue reading

Porter’s Five Forces Model | Strategy framework

Porter's Five Forces

© Flickr | Greg Emmerich

The five forces model was developed by Michael E. Porter to help companies assess the nature of an industry’s competitiveness and develop corporate strategies accordingly. The framework allows a business to identify and analyze the important forces that determine the profitability of an industry.

In this article, we will study the Porter’s five forces model for industry analysis. We will look at 1) introduction to the model, 2) Porter’s five forces, 3) how to use the model, 4) model do’s and dont’s, 5) criticisms of the model, and 6) example – IKEA. Continue reading

SILICON VALLEY INTERVIEW TOUR – IndieGoGo campaign

Dear fellow entrepreneurs!
We will go to SILICON VALLEY in order to INTERVIEW LEADING ENTREPRENEURS! If you want to make this world more entrepreneurial, support & share this great IDEA on IndieGoGo!

Silicon Valley Tour -campaign jpegWe think, the best way to become a great entrepreneur is by learning from leading entrepreneurs; entrepreneurs who have gone the way, made mistakes and learned from them.

Therefore, we will make a big Silicon Valley Interview Tour during September / October 2014, so you and thousands of other people can become a more efficient entrepreneur.

We will meet leading entrepreneurs and ask them about their personal background, why and how they started their companies, what challenges they overcame in which way, how their business model works, how they think about their corporate strategy, and most importantly what their major learnings and advice for first time entrepreneurs would be.

If you think, the world should be more entrepreneurial and you love our initiative, then we would be super thankful if you could tell your friends, family and co-workers about this CAMPAIGN.

The Rise of Wearables | Future Gear

Why carry a laptop, tablet, or even a phone for Internet access when you could log on through your glasses or wristwatch? No longer a solely a futurist trope, electronics and software firms are in a race to develop industry-defining models of what is known as wearable tech or wearables. This disruptive trend may one day render the modern day PC, laptop, tablet, and smartphone obsolete, and make Internet connectivity simply a matter of getting dressed.

Wearable technology (wearables) is defined as the integration of computing and wireless technologies with clothing, jewelry and accessories. While more rudimentary forms of wireless tech, such as the calculator wristwatch, have existed since the 1980s, with advances in miniaturizing circuitry and wireless technologies, wearables have significantly increased the existing and potential applications of the concept.

Wearables - fitbit

© Flickr | US CPSC

In this article, we will explore the world of wearable tech, specifically: 1) brief history of wearables, 2) trends and development in wearables, 3) benefits of wearables, 4) applications of wearables, 5) notable current example of wearables, 6) challenges presented by wearables, and 7) the future of wearables. Continue reading

The Internet of Things | The Future of Data

What do wearable tech, smart homes, smart cities, and intelligent transportation systems all have in common? They are current applications of a widespread, worldwide technological development known as the Internet of Things (IoT). This phenomenon promises to make our wireless world even more prevalent in our daily lives than it is now.

Internet of Things is more than just a fad, or a short-term trend. We are wired to the gills already, and demand for wireless devices and technologies continues to grow every year. In 2012, nearly 700 million new smartphones shipped. In 2013, that number was 1 billion, a number expected to grow by 200 million in 2014, and by another 700 million by 2018, according to market research firm International Data Corporation. And that’s just smartphones – not tablets or PCs, let alone routers, headsets or keyboards. When you add to this list the market sizes for common wireless devices like garage door openers, smart watches, remote heart rate monitors, video game consoles, baby monitors, walkie talkies, GPS devices…you began to get the picture: wireless already dominates – and continues to dominate – our lives. Moreover, wireless connectivity is now becoming standard in a rapidly growing subset of new products across the globe. Some experts predict that by 2025, there will be a total of 1 trillion networked devices worldwide in the consumer and industrial sectors. Internet of Things is not just the latest buzzword: it is where our world is heading.

Internet of Things

© Wikimedia commons | Wilgengebroed

In this article, we will discuss: 1) the definition of IoT, 2) the history of IoT, 3) benefits of IoT, 4) implications of IoT, 5) trends in IoT, 6) current applications of IoT, and 7) future applications of IoT. Continue reading

3D Printing | The Future of Manufacturing

It’s not often that innovations in manufacturing methods capture mainstream attention. The vast majority of consumers are more concerned with the finished product – the features, the look, the costs, and the estimated time of arrival, than with how it was created. With the possible exception of robotics technologies, it is probably safe to say that people not involved with manufacturing are generally disinterested with new developments in manufacturing engineering.

But 3D printing – a new production process which can be used not only by industrial manufacturers but by consumers as well, has begun to penetrate the public consciousness. This powerful new set of techniques and tools has the potential to revolutionize the production of a wide variety of consumer products.

3D Printer

© Wikimedia commons | Jonathan Juursema

In this article, we will look at: 1) a definition of 3D printing, 2) a history of 3D printing, 3) trends in manufacturing, 4) commercial usage of 3D printing, 5) consumer usage of 3D printing, 6) the future of 3D printing, 7) the benefits of 3D printing, and 8) the challenges of 3D printing. Continue reading