o Based on my human capital interviews, I would rely on my top 5 strengths that also happen to be acknowledged throughout the various interviews: discipline, individualization, deliberative, input & analytical.
§ These codes and assessments can give me valuable insight on how I best operate intrinsically.
§ With there being 30 strengths in Gallup’s StrengthsQuest, there are 33.4 million unique combinations.
§ With everyone’s top 5 based on their unique experiences, it cannot be imitated perfectly.
§ While there are others that provide personality insights, there is nothing exactly like StrengthsQuest.
o Due to my interviews over the course of the semester, I would say that my network has grown considerably and can be a useful resource.
§ Having the perspectives of multiple faculty and peers is extremely valuable when it comes to understanding customer and user needs.
§ Anyone else could also work to form those relationships throughout college.
§ Again, could be replicated by others.
§ Although other schools may have people in similar positions that a student like me could interact with, they would be different people with past experiences.
o I would say that due to the internet being a fairly inexpensive platform, the costs of creating this venture would be relatively low, and so my current financial resources could potentially cover it.
§ In this current state of the economy, coming back to campus next year with a job is a valuable type of security in order to launch said venture.
§ I wouldn’t say that my job security is rare, but it is definitely a bonus as things may be tighter come the fall.
§ When just speaking on financial resources, I would say that a college-student’s standard of it is definitely obtainable & imitated.
§ I would say that this is a substitutable kind of resource.
o The support system that I had found thus far in college allows me to come to them to scope out business ventures such as this one.
§ While this would be called valuable personally, there is no monetary metric that can be put on that.
§ The rarity varies on a personal level and is not based on markets.
§ While the exact replica can’t be made everywhere, the qualities of the groups/people I have met can be.
§ While certain qualities of my support system could be interchanged, the people within it cannot be.
o With my family’s background in business, specifically product management within FinTech and PR, I believe they help to give me insight as to the characteristics of the service.
§ I would consider this doubly valuable due to the fact that my family knows my strengths and weaknesses well and in turn, can give me business advice accordingly.
§ No one else has my family’s specific background and experiences, so I would consider it rare.
§ They are unique and cannot be imitated.
§ While there are others that I could also turn to for advice, they could not be substituted for my family.
o The education that I am able to receive, not only at UF but also at Warrington, sets me apart from other educational backgrounds.
§ I would consider the education and experiences that UF has brought to me highly valuable.
§ With the lowering admissions rate to UF as a whole, not even considering Warrington, I would consider this becoming more of a rarity.
§ Although my experiences may vary compared to others, within Warrington there are others pursuing my major and minor as well as extracurriculars.
§ Because Warrington is competing amongst elite institutions, I am sure that other classes elsewhere are similar if not better at times.
o With my personal “why” attached to everything I do, there will be an organizational culture formatted along Isaac Newton’s quote, “If I have seen further than others, it is by standing on the shoulders of giants.”
§ This is intrinsically valuable to me as I work to create something within the organization that goes beyond a single person, giving us a collaborative culture.
§ While every company claims to have differing values, culture, and missions, companies generally tend to have very similar ones.
§ While company cultures may be similar, the purpose of mine being based on a specific quote from the 18thcentury allows it to be distinguished.
§ Choosing an arbitrary quote in comparison to thousands that could have impactful meaning to lay a foundation allows it to be non-substitutable.
o Through the various student organizations that I have participated in, I have been able to come up with a fairly significant network of young professionals.
§ This is highly valuable as many of them will go into various industries, and I could potentially reach out to them to gain insight on their field.
§ There are many other students who also have had these experiences with people, so I would not consider it significantly rare.
§ These networks, while not completely duplicable, would be able to be created by others.
§ While I have been a participant in many organizations, there are others that I had not been able to yet.
o The mentors that I have been able to find with only being at UF for two years allows be to get their personal and unique perspectives towards my venture idea.
§ They are valuable as many of them surround higher education as I look to identify a key solution.
§ These advisors are some of thousands across not only business schools but also colleges, giving a rare quality to those I have formed mentee relationships with.
§ While there are so many advisors, these relationships with other students could be and imitated substitutable.
o I would consider the current state of the economy a resource, as soon, when the economy around the world opens up, people will be looking to hire once again, and students continually need jobs.
§ This can be valuable from the fact that other hiring agencies will also be looking to bounce back.
§ This can be rare considering this dip in the economy only happens every 7-10 years, excluding a global pandemic.
§ Considering that these circumstances cannot be replicated in the exact same way, they cannot be imitated.
§ This situation is highly irregular and cannot be substitutional due to the economy shifts and over time.
I would argue that the top resource happens to be my personal strengths in regard to human capital because they check off each of the VRIN aspects. Because I would be the general spokesperson and foundation-layer for this venture, it would make sense that my personal strengths, why, and overall persona differentiating myself from any other person who would come with a similar competitive idea to my own.
Hello Campbell,
ReplyDeleteI agree that your ventures top resource would be your human capital. This would be an invaluable resource in a service based product such as the one you are proposing. By having a strong foundation of human capital it would allow your customers to feel more connected with the service and have a more positive outlook on the results and the experience they had.