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STUDY CASE 1 : KYLMIT
Introduction of Entrepreneurship
KYLMIT
KYLMIT
Nate Alder, a 25 year old BYU student, stumbled on a million dollar idea while deep sea diving. With the help of some friends, and fellow students, he took it from an idea to an award winning prototype. Now he is ready to sell, and, he hopes, change the way we keep warm.
Insulated clothing is old news. Not to mention the dated concept of wearing layers. In the future we will need nothing more than molecules to keep us warm. That is, if R. Nathan Alder's award winning idea takes off. Alder, 25, a BYU student who admits to taking a leisurely approach to graduation, has designed a line of winter gear that is insulated with argon gas, allowing them to be thinner, lighter than traditional winter gear and five times as warm. He has started a company, called Klymit, to develop and sell it.
numerous events, including: Invented in Utah, the BYU Business PlanCompetition, the San Diego State Venture Competition, and a non-academic invention competition at the University of Oregon.
The Klymit line is insulated using a small metal cartridge of gas, familiar to anyone who has ever fired a pellet gun, which is connected to a valve. When the valve is opened, gas fills the lining of the clothing snaking through a labyrinth of tunnels specially designed to hold it evenly. The lining fills in less than a second, and each cartridge should last a whole ski season. If the wearer starts getting too hot, a turn of the valve releases some of the gas, cooing him down.
The Klymit team: Alder, the founder and CEO; Ben Maughan, finance and operations; Brady Woolford, product development; and Nick Sorensen, Director of Business Development, are currently using only argon, but are developing ways to use other noble gasses, like krypton and xenon, which are heavier and provide better insulation. The inspiration for the product struck Alder, a snowboard instructor, on a deep sea diving trip. He learned that divers us noble gasses to insulate themselves underwater, and realized that same concept could be used to make snow gear more efficient. While currently making only snow gear, Klymit is developing the technology to be used in camping gear, military equipment, and even home insulation.
Klymit has sold 18 percent of the company in an initial round of fundraising for around $320,000, and is currently involved in a second round. Interested investors can contact them through their website: www.klymit.com. They are currently in the process of licensing their line which includes prototypes for a jacket (expected to sell for around $500 to $700), pants, gloves, and ski boots. Alder anticipates the products hitting the market in the fall of 2009, and expects the company to generate $3 to $5 million in revenue by the end of 2008.
STUDY CASE 2 : KATHRYN KERRIGAN
When you’re a high school girl with a size-11 foot, a cute pair of shoes might as well be made of platinum or diamonds. They don’t exist. Yes, there are practical shoes, orthopedic shoes. “But they’re not cute,” Kathryn Kerrigan says.
She should know. “In high school, I remember driving with my dad to every shopping mall looking for prom shoes,” says Kerrigan, who stands 6 feet tall.
A basketball player while attending Lake Forest College in Illinois, she had friends even taller who had even bigger feet. For these young women with size-13 or -14 feet, even athletic shoes didn’t fit—they had to wear men’s. When they approached graduation, they couldn’t find nice dress shoes for job interviews.
While getting her MBA at Loyola University in Chicago, Kerrigan drafted a business plan for a Web site selling stylish shoes primarily in sizes 10 and larger. After graduating in 2005, she continued to do research and found the need was greater than she imagined. More than 35 percent of women wear shoe sizes 9 and larger, while shoe factories stop production at sizes 10 or 11.
So she took her business plan to the bank and secured a loan for $30,000 and went to work—literally starting from nothing. “We had to create the molds for every shoe size, and in every heel height,” she says. “These cost about $2,000 each.” Kerrigan drafted sketches and specs for her first line of dress shoes and started working with a craftsman in Italy to produce her designs.
Although factory reps told her they didn’t make the larger shoes because retailers didn’t ask for them, Kerrigan found plenty of demand. Her fi rst shipment sold out shortly after the site launched in December 2005. And, after being in business a short time, retailers started coming to her. Now her shoes are sold in more than 40 boutiques across the nation, and her sales nearly tripled last year.
Opening her own retail store wasn’t in the business plan, she says, but the need was there, “and we had to do it.” Last year, Kerrigan opened KK Shoes in the Chicago suburb of Libertyville, and plans call for a second retail store on Chicago’s exclusive North Shore in the next few years. Revenue tripled in 2007,
Kerrigan says, and sales through January 2008 exceeded those from the same time period last year.
Kerrigan also plans to expand the shoe collection for teens, including more casual styles at more moderate price points. “We have moms calling our office who have daughters who are 13 or 14 and they’re wearing shoe sizes 13-14,” she says.
Now 28, Kerrigan remembers all too well her own footwear frustrations, and she’s eager to provide trendy shoes for teens, and to help inspire confidence in them—like the motto on her Web site, “For Women Who Stand Tall.”
She enjoys speaking with teens, going into classrooms or helping coach a girls’ basketball team from time to time. “I love talking to young girls because there’s so much garbage out there that influences these adolescent ages,” she says. “I know it’s important for them to see something positive, someone they can look up to, someone who can show them that you can have it all and be well-rounded.”
HAVARD BUSINESS CASE STUDY (HSB)
1. Briefly describe the trends in the global airline industry.
In the global airlines industry these days, it's a trend to offer a no-frills low cost concept in their business. A low-cost carrier or low-cost airline (also known as a no-frills, discount or budget carrier or airline or cheap flight) is an airline that generally has lower fares and fewer comforts. To make up for revenue lost in decreased ticket prices, the airline may charge for extras like food, priority boarding, seat allocating, and baggage etc. AirAsia is one of the company that succeed in low cost carrier (LCC) business provides a full service regional airline that offered slightly lower fares than other airlines in Malaysia. Private entrepreneur Tony Fernandes saw great potential for no-frills LCC in Asia after saw a massive success of LCCs in the West. He restructured AirAsia into the first no-frills, LCC in Asia and the new business model was a huge success.
2. What is the business level strategy adopted by Air Asia?
Business level strategy adopted by AirAsia is a cost leadership strategy that target specific markets such as domestic services, short-haul regional services and long-haul regional services and selling their product below the average industry prices to gain market shares. AirAsia modified the low cost airline model and adopted a lot of actions to compete in the industry while maintaining the competitive level of differentiation in this business and AirAsia passenggers grew significantly.
AirAsia introduce the value-added services which is to provide ticketless travel and implement a free seating policy. In early 2007, AirAsia became the first airline in Malaysia to offer an internet check-in service that allowing the passengers to print their own boarding passes and paid extra money to board first so as to choose their seats with ease. Passengers also can pre-book their checked baggage and meals. Besides, instead of free meal and flight entertainment, they prepare food and beverages ready for sale on board.
3. How does Air Asia achieve cost leadership through differentiation?
AirAsia achieved cost leadership through differentiation through strategic action such as single class services with no frills and minimum lower fares without preferable seats, meals, entertainment and other utilities. Besides that, their priority is simplicity and safety for the passengers. AirAsia also always makes promotions to keep their customers coming back for their product such as regular fare promotions for specific travelling periods to encourage early booking. The tickets were through a telephone booking centre, sales offices, travel agent and partnerships with local bank and post offices. Passengers also can pre-book their checked baggage for a lower rate to encourage customer to travel lighter so less fuel was burned and less pollution was caused.
Its speedy expansion from domestic routes to regional flight was supported by its cheeky advertising strategy. For instance, in 2004, when it began the route from Singapore to Bangkok, its full-page newspaper ad read: “There’s a new girl in town: twice the fun, half the price”, poking fun at the iconic Singapore Airlines’s female flight attendants, who were widely known as “Singapore girls” and had an elegant image. AirAsia’s flight attendants, on the other hand, could style their hair and apply make up however they liked, projecting a muchmore relaxed and refreshing image than those of other airlines, which required cabin crew to assume a more uniform appearance. While all AirAsia advertisments focused on low fares, they also reflected the LCC’s intention to be seen as an airline of high quality. With the ambition of being a low-cost but high-quality and innovative airline, it signed on to become the official airline sponsor of the world-famous Manchester United football club and the AT&T Williams Formula One team, painting some of its aircraft with the club colours and sport stars. AirAsia further tied up with Tourism Malaysia to make AirAsia a sponsor of Manchester United’s training centre in Trafford, UK, enhancing AirAsia’s relationship with the tourism board. Philanthropic activities were also pursued, such as transporting aid to cyclone-hit Myanmar in 2008 and donating free seats to China’s Red Cross to raise funds for the Sichuan earthquake recovery. Addressing global concern about carbon emissions, AirAsia’s website illustrated how its operations conserved the environment, such as its ticketless system reducing paper waste. AirAsia gained free publicity on many occasions so they can reduce their cost in advertising their product.
4. Identify the ways Air Asia can sustain its competitiveness through the business level strategy that is adopted?
AirAsia can sustain its competitiveness by maintaining its no frills, low fared services and expand their business hubs through Asia and around the world. With their effective sales and marketing strategy, AirAsia can simply beat their competitors in airlines industry. Besides with their strong foundation and strategies, they continue to be the lowest cost airlines in the market and always be the people's choice to buy their services. The advantage of lowest price has made AirAsia sustainable growth through the business and succeed along its competitors.
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