CASE ANALYSIS: WHAT’S THE BIG IDEA (A) Harvard Case Solution & Analysis

CASE ANALYSIS: WHAT’S THE BIG IDEA (A) Case Solution 

Introduction

Big Idea group is operating in the industry for more than a decade.In addition,the company is the pioneer in generating innovative ideas and to commercialize them. Moreover, the company also works as an intermediary, as it helps innovators to show their ideas. Furthermore, the company adopts the potential ideas and buys them from innovators or helps them to sell that to another potential company and charges a royalty on it. The major focus and area of expertise for the company is the kids’ industry as, the company is mainly focused on idea generation and product development in this industry. (Clayton m, 2005)

In addition, the company is with big toys companies such as Toys R, and etc.The major competitors and market shareholders are Toys R, Kmart, Walmart, Target. The industry is large enough to provide potential sales and growth to large, medium and small manufacturers and retailers as the size of industry is almost $30 billion in 2000, measured by revenues. The company is in many agreements which are working for past several years and these agreements are designed for innovation applications with many company. On the other hand, the company is also considering an idea to enter in new product line which is card games.

            The company follows a four step process in order to keep its innovation and idea generation on track. This process includes, generating ideas flow, winnowing ideas, research, prototyping and refining concepts. In the first step the company collects ideas form many innovators or creative people and gathers their data base to be analyzed. Afterwards, the company sorts out the most potential ideas from its data base and gather those ideas which are applicable. Moreover, the company researches for these ideas that either they are being used anywhere or not or whether the company will be the first mover to deploy it. In addition, the final step includes the discussion of the potential ideas with the industry experts or analysts which further decides that the idea should be adopted internally or it should be sold to another company.

            Furthermore, the company offers a wide variety of ideas and entrepreneurs to many companies having a vast range of products. The company also believes that it can create value for its customers by providing them the most innovative and entrepreneurial solutions. In addition, the company has several ways to commercialize any idea. As the company first tries to implement the idea internally as a private label, afterwards if the idea is not applicable then the company purchases the idea and sells to another interested company and if both the ways are not possible then the company outsources this to anyone keeping a royalty margin on it. However, the company has also developed over 100 ideas which have been adopted by the market place till date. For instance, the company also has a network of supporters, investors and inventors which allow the company to compete successfully in the market.(Group, 2016)

In the next section, the problems will be discussed at a glance which are being faced by the company.

Statement of Problem

            The company is operating very successfully in the toys industry as the company is generating so many ideas which are being adopted by many industry members. Moreover, it has been discussed earlier that the company’s major focus is the toys’ industry and the company is facing some problems in the same industry. However, the company has large revenues and profits which allow it to stay competent and profitable. On the other hand, as far as the future threats are concerned which the company is considering, as stated by the CEO and chairman of the company, the company is producing toys and the toys industry is becoming mature as many big companies are dominating the market and they have almost 50% of the market share. Furthermore, the needs and wants of kids are changing as kids are switching to technological toys instead of the traditional toys.....................

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