My Unfair Advantage

The following are ten resources that provide a competitive advantage for my venture.

Relatable market demographic – My business venture is primarily marketed towards college students. The fact that I am also a college student makes me relatable to that demographic because I either understand their consumer demands from my own perspective or from the perspectives of my colleagues. This would be valuable because it would save on market research costs in terms of time and financial resources. However, it is not rare since university students can easily relate to at least some other university students. I am obviously not the only one. I would deem this resource as not that imitable, at least by certain parties. Of course, relating to a market demographic of college students is easy to do when you yourself are a college student. However, it might not be as imitable to someone who is older. Relating to this market demographic could be substitutable, once again, by other college students but not by those who are not in the same age group, as their relatability might not come off as genuine.

Organizational culture – The organizational culture I intend to create from this venture would be one that is willing to partner with local producers and maybe even other college start-ups. The culture would be one similar to that of Chipotle or Blue Apron. One of the characteristics of the organizational culture would be local partnerships with companies based in Gainesville or ones started by UF students. For example, it would be cool to partner with GNVCompost, a company that was mentioned in a past lecture, in order to incorporate sustainable aspects. This resource is valuable in the sense that it provides a way to market the venture. I think that it is not that rare when one factors in how many other companies these days include sustainability in their business philosophy. However, it is inimitable because it is specific to areas near UF campus. I believe that it is non-substitutable because an organizational culture is unique to an organization. It sounds obvious, but that’s why an organization would strive to establish their own culture in the first place.

Location – The venture would be located near UF campus. Because of that, it has easier access to UF’s resources, which makes location a valuable resource. This location is rare in the sense that there is only one University of Florida. It might not be that difficult to imitate, as there are other universities in the south east region with similar climates and somewhat similar resources. The resources offered by a location near a university campus are non-substitutable, as there are a variety of unique academic references and capital resources.

Planning capability – As for human capital, my colleagues would describe me as fairly organized. I have the capability to plan tasks and assignments accordingly and efficiently. A capability to plan is valuable to any organization as it allows for a better process of completing objectives. I would not say that it is rare because I have met a few people in my academic career so far who are very organized and logical. If one is not that organized to begin with, I think that with consistent practice, they can become more organized and improve their planning capabilities. Because of that, the resource is somewhat imitable. There really is not a substitute for organization. I guess the opposite would be a lack of organization, which probably would not be a benefit to most companies.

Work ethic – Based on group and individual assignments, I would say that I have a pretty strong work ethic. A human capital resource like that is valuable to any organization. With a strong work ethic, an entrepreneur is able to accomplish more tasks. It is moderately rare, because I have met others who demonstrate dedication in a consistent manner in their work. A strong work ethic is only imitable by those who share a sense of motivation and energy. It is also somewhat non-substitutable.

Supply chain – My venture’s supply chain incorporates the advantages of location and market demographic. By being located in a region with plenty of agricultural space and near a university, transporting goods within the region should be fairly easy compared to a larger supply chain system. Also, because it is marketed towards those living in dorms and apartments near campus, transportation time should also be low. The venture could also make use of smaller fuel-efficient vehicles. An efficient, small scale supply chain could save costs, which would be valuable to the venture. It is rare because it makes use of a combination of resources such as its unique location and its niche market. It would only be imitable if a different company were to operate in a similar market. It is mostly non-substitutable because, once again, the location and niche market of the venture are what define the supply chain.

Knowledge of CSAs – Last week I discussed the pros / cons of the Community Supported Agriculture model for producers with Dr. McFadden, a professor from UF’s Food & Resource Economics department. For producers, the pros include monthly income, the ability to sell to other vendors if there is a great yield, and risk-sharing. A con included the long window of upfront variable costs. A knowledge of CSAs is valuable because it is the primary model on which the venture is based on, so that knowledge would be helpful from an operations perspective. I would say that it is fairly rare since not many people are familiar with CSAs. It could be imitable, as anyone can seek out information about CSAs. It is non-substitutable because it is what the venture is based on.

Social media utilization – The venture incorporates some aspects of social media in its mobile app. My experience using social media is a valuable resource because I would be able to effectively help figure out the potential ways to design how the app functions with platforms like Facebook or Twitter. This resource is not rare, since pretty much everyone in my age group is familiar with social media. It could be imitable by someone else with similar levels of experience as me. Also, it could be substitutable, as there are others out there with much more experience than me when it comes to things like marketing through social media platforms.

Network of computer science students – Because the venture makes use of a mobile app, there will be a demand for those with programming abilities. As of now, I do not have a lot of programming experience myself. However, I have quite a few friends who are currently studying computer science and have more experience programming than I do. The ability to network with them and possibly access their networks with other computer science students is a valuable resource, as it would allow me to utilize the technical abilities of colleagues that will improve the app’s functionality. It is a little bit rare, since building a network takes some time. It is rather imitable, since others could network with other technical experts over time. It is substitutable, as there are others who could utilize larger networks of computer science students.

Collaborative qualities – From past group assignments for school, I found that I liked to work with motivated teammates to complete a task. I enjoyed a collaborative dynamic. This human capital could be valuable in improving an organizational culture. I would say that this quality is a little bit rare, since it just depends from person to person on whether or not they enjoy working on a team. It is fairly imitable by those who also possess teamwork skills. It is also substitutable, but once again, only by those who also possess good teamwork skills.

The top resource is the venture’s supply chain. It is more important to the venture than all of the others because it utilizes a combination of unique resources. What I am structuring is something that is unique to Gainesville and the University of Florida. The supply chain makes use of sustainable practices in the form of fuel efficient, smaller transportation vehicles, a niche market, and the benefits of being near a university in order to benefit students.