Discuss the conceptual framework for opportunity

Assignment Help HR Management

Reference no: EM133243705

Case: The pet products company FroliCat had introduced two successful laser-based cat toys, including the Bolt , a product that embodies a randomly moving laser beam to entertain cats. The company's management team, hoping to build upon their initial success, sought additional opportunities to develop new cat toys. They were particularly interested in opportunities to extend their brand to other types of motion-based cat toys. FroliCat was a small company, and so an investment in developing a new product represented substantial financial risk. As a result, the team hoped to identify opportunities that would be highly likely to result in profitable products. FroliCat was based in Chicago, but because all of FroliCat's products were produced by factories in China, and because it wished to adopt a more global market perspective, it engaged a Shanghai-based product development-consulting firm, Asentio Design, to lead the opportunity identification effort.

Question 1: Explain opportunity identification in the context of product development.

Question 2: Discuss the conceptual framework for opportunity identification used by FroliCat

Question 3: In your opinion, could a great opportunity identification process result in a product that fails in the market?

Reference no: EM133243705

Questions Cloud

Cultures in europe are becoming more similar : What do you think about the statement: "Cultures in Europe are becoming more similar?".

Why is an analytics-based enterprise so important today : HRMG350 Maryville University Why is an analytics-based enterprise so important today, more than it has ever been and How can analytics be used to successfully

Motivation strategies-employee rewards and job performance : Explain the relationship that exists between your motivation strategies, employee rewards, and job performance.

What is the strategy that you might incorporate : What is the strategy that you might incorporate? Why do you think this particular strategy might be persuasive for your specific audience and/or stance

Discuss the conceptual framework for opportunity : OPERATION 125 Harvard University Explain opportunity identification in the context of product development

Identify a research question of interest : Identify a research question of interest. Identify the variables and relationships between them. Formulate at least two hypotheses for your study

The workforce planning process : The workforce planning process- Forecasting techniques for estimating human resource demand- overview of HR tools used to estimate internal and external supply

Are the rules and practices of project management : HEALTHCARE 105 College of Health Care Professions, Are the rules and practices of project management a universal process, or do they change by project?

Determine market-clearing real wage rate-level of employment : What happens to the wage rate and employment if wealth rises, reducing the supply of labor to 500 + 1000w?

User Account

All Pages