Corporate Venture Capital: Bridging the Equity Gap in the Small Business Sector (Routledge Studies i

leondumoulin.nl: Corporate Venture Capital: Bridging the Equity Gap in the Small Business Sector (Routledge Studies in Small Business) (): Kevin .
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• Corporate Venture Capital: Bridging the Equity Gap in the Small Business Sector - CRC Press Book
• Corporate Venture Capital: Bridging the Equity Gap in the Small Business Sector
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Withoutabox Submit to Film Festivals. The role of feedback in Figure 6 can be found between each quadrant, highlighting the fact that, as Eric Sevareid a well-known journalist in the USA puts it: Every model, plan, mitigation strategy, etc. This framework will be notably less effective without feedback between all quadrants. The SVA framework was applied to the tooling industry to formulate a business model for the National Tooling Initiative NTI , a national programme that trains young apprentices to become tool makers in an effort to improve the local tooling industry.

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The proposed business model would have to deliver value to the industry and address misconceptions regarding South Africa's ability to deliver effective quality tools. Applying the various tools prescribed in Q1 of the SVA framework, the market segmentation shown in Figure 7 below was revealed, along with particular insights into the market structure. A common element in all the market segments was that local manufacturers' inability to adopt modern manufacturing and project management techniques meant that local suppliers had gained the reputation of not delivering the required goods on time, and thus forcing local customers to seek international suppliers.

Porter's Five Forces analysis revealed that the base segment was susceptible to new market entrants, with participants competing on price to deliver lower complexity tools with less stringent tolerance specifications. The mid-technology segment is more difficult to infiltrate as suppliers need to generate trust in delivering tools that can perform more complex functions along with after-sale maintenance services.

The premium segment is the most difficult to supply, with participants competing with the ability to provide efficient tools with demanding tolerance specifications. Numerous value displacements are evident within the industry. For the lower segment, Asian and East European imports often arrive and require modifications because of ineffective specification translations. Local companies are unable to provide the necessary after-sale services for the medium technology segment imports: With superior tool design capabilities, West European tool manufacturers face considerable barriers to entry; however, local customers have to pay significant fees to import large complex tools with associated shipping lead times, and to ship them back to the country of origin for maintenance and repairs.

Figure 8 illustrates the critical business functions employed to deliver value to the customer at the various stages of development. With the insights provided above, a strategic intent was formulated that declared that a successful business should deliver tool design and manufacturing services to the middle and premium market segments, where the industry structure would provide shelter from competition, should the business model be able effectively to deliver value to the customer.

From the value curve, it was evident that smaller scale businesses would need to address the following mis-fits to drive them up the value curve: A business model was designed by reconfiguring the elements within the various business functions, providing a central channel for design, importing and manufacturing services. The dominant isolating mechanisms that would protect the business strategy from being undermined by imitation by competitors or disintermediation by customers include: In order to convert the analysis and business model into action, the E-PERA tool has guided the business model to define, among other things, the necessary IT and visual management systems to facilitate communication and project management.

A financial roadmap - which dictated how funds would be raised to increasingly absorb the outsourced functions and thus facilitate growth - was compiled with the first round of shareholder fundraising underway. At the time of writing this paper, the customer had bought into the resulting business model on paper, and the implementation of the business model was in process. As discussed in section 3. However, they neglect to detail the processes involved in developing the strategy and subsequently achieving success. The SVA framework, as a live product that should constantly evolve, addresses the shortcomings of current strategic models in the context of SMEs, in that it: The framework allows SMEs to address their specific shortcomings through a combination of risk-mitigating factors or actions in order to align their strategic intent and business model with VC demands, allowing them to gain access to the necessary funding to grow their business and leverage off the non-financial resources of the VC companies.

Ultimately the framework unites management and investors behind a unified vision, provides motivation in the form of strategic intent, and installs the necessary communication and project management infrastructure to ensure plans are translated into action.

Future research that might arise from this framework includes the use of specific tools in specific types of industries. The framework will ultimately be tested to see whether it would fall into the category of SMEs that are successful after the first two years. A comparison of young and long-lived firms. Modelling growth strategy in small entrepreneurial business organisations. Journal of Entrepreneurship, 17 2 , pp. Uncertainty and planning in small and entrepreneurial firms: Journal of Small Business Management, 33 4 , pp.

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