SBLC6001 Case Study Analysis in Engineering Entrepreneurship: Hidden Nation Assessment Answer
Hidden Nation: A Case Study Analysis in Engineering Entrepreneurship
Critical Evaluation of Business Idea and Strategies of Hidden Nation
In contrast to the Hidden Nation business scenario, designer Lee Prescott upholds distinct passion, determination, ability to innovative and exciting entrepreneurship spirit to implement creativity and imagination into consideration to commercialize fresh perspectives in the globalized Bicycle Motor X. The availability of high quality, specialist BMX frames, design-built features and marketable price structure has fueled the company to incorporate systematic entrepreneurship to maximize market opportunities and increase brand value and recognition.
The fundamental business idea of Hidden Nation is to design and produce best BMX frames and bike affiliates to attract a higher range of professional cyclists and wide range of customers with highest standards, customized product design and relationship-driven approaches. Creative leadership qualities, Human-centred Design thinking and affordable price structure has influenced to produce cost-effective and eco-friendly products to maximize organizational capabilities and resources. The company considered cutting-edge technologies, globally distributed value chain, systematic corporate governance policies and data-driven R&D pipelines to amplify collective efforts and bottom-line activities (Martins et al. 2019). The prime objective is to provide durable, safe and fast BMX while considering people-centric campaigns and promotional activities. Optimist entrepreneurship attributes, sustainability-conscious policies, partnership acquisition credentials, green development programs, innovative and modular designs have assisted to enhance competencies, product leadership and brand recognition. As the BMX market is maturing and thriving customer demands, availability of expertise, design thinking attributes, great entrepreneurship skills and Industry-specific knowledge have justified the newly renovated business idea as a proactive provision. Hidden Nation extensively focused on high-end design specifications, component quality, modularity systems and performance-driven business policies, the idea can be significant to gain enormous reputation and revenue streams. University involvements, brainstorming sessions at Vision Works unit and the scope of commercial venture development programs can facilitate the building of physical assets, corporate relations and streamlined operations (Litman, 2016). However, lack of resources including the secure source of funds, GVCs, historical background and minimal corporate experience can hinder seamless transformation towards productivity and profitability.
In contrast to Hidden Nation, business strategy refers to a systematic empirical framework that encompasses a combination of fact-driven decisions, actions and operational excellence that assist to accomplish predetermined corporate goals and secure a competitive position within the BMX marketplace. Hidden Nation as a newly formed company has implemented a multilayer business strategy that includes corporate level, business portfolio and functional capabilities to execute the strategies while articulating core competencies, values and ethos. As Hidden Nation intended to create a standardized dialogue and specific market niche through handful marketing, product differentiation and cost leadership strategies, the company can have a significant reputation for its extensive business portfolio, design specifications and value-added solutions (Vanwersch et al. 2016). For proficiency in product development, disruptive innovations, cutting-edge technologies, the voice of customers, engineering principles including aerodynamics, balancing and safety priorities are implemented to uplift product diversification strategy.
For marketing purposes, Hidden Nation focuses on relationship-driven approaches and people-oriented campaigns such as engagement of cyclists, advertisement in races, real-time content display and attractive brand names to improve organizational capabilities and market recognition. Traditional influences, exclusive association with PR and distributed dealership networks can improve sales and marketing capabilities. However, inadequate experience, increasing complexity, inflation rates and fluctuating economy have been hindering funding sources ( Aithal, 2016). However, streamlined supply chain, a collaboration between teams and design thinking capabilities of leaders have amplified organizational capabilities and potentiality to ensure productivity and profitability.
Opportunity Analysis of Hidden Nation
The current marketplace has become volatile and complex due to intensified competition and availability of products. However, changing consumer behaviours, sustainability-conscious policies, emerging trends like green development programs, energy-efficient bicycles and intensified popularity of extreme sports have created ample opportunities for Hidden Nation to improvise innovative brainstorming ideas into product design for commercialisation opportunities ( Mummah et al. 2016). As business development initiatives are highly dependent on macro-environmental and micro-environmental factors including regional economic, GVCs, demographics, political and social influences and technological advancements, Hidden Nation has extensively conducted thorough market research to identify potential opportunities to leverage strengths and areas of expertise.
Lee Prescott is a significant asset for Hidden Nation as his contribution towards business development has assured competitiveness within the marketplace due to his incomparable entrepreneurship skills, engineering knowledge, personal traits and authorization functionalities. As a newly formed commercial venture, Hidden Nation has adequately focused on his authoritative leadership style to set expectations, creating a comprehensive roadmap and deployment of proactive provisions. His Human-centred Design thinking capabilities, time management, efficiency and communication skills have ensured adequate growth and accountability ( Rastkhiz et al. 2019). As Hidden Nation experienced significant difficulties, rejections and slow progress to ensure seamless fund sources, various distinct entrepreneurship skills including adequate resilience, concise communication, networking facilities and passion for different fields of business have created comprehensive competencies to ensure productive growth.
Geographical location, demographics and cultural attributes of society play a fundamental role to thrive globally while considering taxation policies, regulatory compliances and international trade conventions. As Hidden Nation is situated in the UK, availability of resources, supportive government compensation packages, subsidiary schemes and relaxation in customs clearance have influenced the company to execute BMX development programs. Availability of transportation services, streamlined supply chain across the European Union and diversified workforce have assisted to gain cost and product leadership. Market-driven product development strategies, transformational changes in marketing strategies and collaborative sharing capabilities and proactive endorsement programs also confined to maximize organizational efforts and affordable prices.
Hidden Nation has gained enormous flexibility and credibility as the university has provided extensive knowledge and financial support to streamline start-ups while evaluating commercialization perspectives and techno-centric visionaries of the company. As Vision Works has supported embryonic development programs by providing office accommodations, telecommunication, computer-aided engineering facilities and ICT based training facilities, the company extensively improvised its exclusive business ideas into real products while following advice and encouragement ( Baručić and Umihanić, 2016). As Lee Prescott developed enormous creativity and innovation in BMX designs, it allowed HN to embrace modular designs, lightweight aluminium alloys and safety measures to improve product quality and aesthetic values by incorporating integrated engineering principles and standardized quality assurance.
Marketing and Advertising Programs
HN has become an effective alternative for cyclists and wide-range of consumers to prefer quality as the brand extensively on design-built features, performance and brand value. As the newly built BMX frames and components are extremely important to create a distinctive and unique market niche, HN widely incorporated performance objectives, streamlined supplier relations and affordable manufacturing practices to mitigate business needs. Market customers in the BMX industry become sales representatives due to inseparable association with the brand which assisted HN to execute people-oriented campaigns by escorting and featuring programs and races. As a prominent marketing and sales strategy, HN has developed a distributed dealership network, tradition-influenced nomenclature style and public relations campaign to diversify sales routes ( Lokshina and Lanting, 2019). Dedicated corporate website, affordable social media marketing and relationship-driven advertising strategies have assisted to minimize occupational threats and over budget constraints.
Risk Management and Mitigation Strategies for Hidden Nation
In the era of globalisation and cross-border interactions, start-up businesses like HN are facing comprehensive challenges to improve organizational performance and time-efficient aspects to mitigate rewards of customers, revenue streams, sustainability and satisfaction attributes. Various distinct risks including unavailability of resources, poorly maintained corporate governance, inaccuracy in strategic decisions, operational disruptions and financial implications can hinder business development ( Leisen et al. 2019). HN must implement fact-driven perceptions, assumptions and entrepreneurship skills and employ careful mitigation strategies to mitigate such uncertainties.
The biggest risk that HN is facing is financial as the entrepreneur has invested life savings to thrive in new business. As international business requires seamless and secure fund sources and high initial cost, cashflow consistency is the major concern for HN during the initial process as it can struggle to maintain operations, make a large upfront investment, pay employees and invest in market penetration and growth due to lack of adequate funds. Moreover, fluctuating global economy, inflation rates and recessions have affected the company's functionalities (Hamdi et al. 2018).
HN can provide market share, gain significant loans from financial institutions and seek government compensation packages to run business ventures. Negotiation through favourable purchasing terms, assessment-based supplier selection, lean manufacturing practices and third-party agreements can be incorporated to mitigate financial requirements.
Strategic risks are common for new commercial ventures as lack of ideal corporate governance system, organizational infrastructure, inadequacy in targeted audience selection, poorly defined marketing and sales strategies and shift in the external environment can create vulnerabilities to make appropriate decisions. Due to minimum technological advancements and availability of resources, the company can struggle to endorse celebrities, brainstorm new opportunities and conduct thorough market research.
To mitigate such risks, incorporation of appropriate research and planning based on industry-specific models including SWOT, PESTLE and Porter's five forces can be significant to evaluate macro-environmental factors, upcoming industry trends, competitors, and prior experience (Herbes et al. 2017). Development of a diversified workforce with multicultural and multi-generational attributes can improve organizational capabilities to redeem accuracy and integrity.
Reputation and brand recognition are integral properties of modernised commercial ventures as it allows developing a concurrent consumer base while encouraging feedback loops, product differentiation and audience controlling systems. As HE intended to improve organizational reputation and brand value through product quality, customised BMX bikes and lucrative price structure, the company can experience significant difficulties to compete against potential competitors due to existing products, cost-effectivity and product leadership strategies.
To ensure productive growths, development of feedback gathering principles, streamlined customer-focused services, extensive application of digital platforms and target-promotion marketing strategies can be incorporated to control reputational attributes while considering cost-effectiveness and value-added credentials.
As HN has introduced new opportunities into consideration, the company is highly exposed to liability risks due to lack of adequate resources and information. Various distinct activities including property damage, supply chain disruptions, workplace injuries, contractual obligations and inefficiency in quality standard policies can lead to costly lawsuits and compensation packages. As taxation policies, regulatory compliances and custom duties are changing constantly, third-party consultancy services can be confined to mitigate laws and legal precedences. HN needs to have asset insurance coverage, relationship-driven supplier management and ethical corporate governance to prevent catastrophic consequences due to mismanagement and misinformation ( Aithal and Aithal, 2016).
Business Interruption and Security Risks
Increasing vulnerability in climate conditions, natural disasters, supply chain disruptions due to global pandemic like COVID 19, political uncertainties and instrument failures are interrupting business operations. These challenges can HN's inventory and lean business models, and timely delivery and distribution channels can cause significant loss in terms of financial as well as reputational damages.
Development of contingency plans, regional warehouse and in-house manufacturing practices can mitigate such a crisis. Development of cybersecurity programs, installation of cloud-based storage, centralized information systems can be effective alternatives to cope with cybercrimes, data breaches and protection of HR and IP.
Business Continuity Plan and Futuristic Development
Since the industrial revolution and technological advancements in engineering science has influenced the entrepreneurial spirit to develop brainstorming ideas and enthusiasm to establish a concise company to produce customized and cost-effective solutions. However, the success of newly formed businesses lies on multiple macro-environmental and micro-environmental factors that allows developing adequate infrastructure, business network and distribution channels to thrive globally while mitigating regulatory affairs, sustainability policies and government guidelines. Various distinct business aspects such as ethics-backed leadership skills, corporate governance policies, effective employee engagement policies and operational strategies are very much necessary to bring concurrent changes and economic prosperity within the business ( Fowler, 2016). As business development initiatives are also dependable on customer services, satisfaction and sophistication attributes, product positioning and cost-effectivity credentials, so far HN has maintained significant entrepreneurship roles to improve organizational competencies through the systematic allocation of resources, HRM practices and sustainable development programs.
To gain competitive advantages over potential competitors, various quality assurance factors such as safety and functional requirements of BMX bikes, use of appropriate alloys, medullary design specifications and customised services are implemented by HN to attract distinct segments of consumers. People-oriented campaigns, social media marketing and open-door communication channels have facilitated HN to cut down excessive costs and timelines to remain competitive ( Baručić and Umihanić, 2016). As potential competitors are introducing value-added services and products, integrated dealership networks, streamlined GVC and precise marketing strategies can amplify collective efforts to thrive revenue gains and brand value. The collaboration between Vision Works unit and Hidden Nation can be beneficial for HN to improve quality and aesthetic values of the product by incorporating a holistic R&D pipeline and identification of best industry practices. As VW is determined to provide utmost support through systematic allocation of finance and management advice, HN has got ample opportunity to exaggerate techno-centric visionaries and production procedures to safeguard business development initiatives by building adequate infrastructure, communication channels and mentoring programs.
As sustainability-consciousness among consumers and green transportation services are becoming more prominent nowadays, HN upholds biggest opportunities to thrive as a potential candidate within the BMX industry due to availability of competencies, high-value products and entrepreneurship skills. As Lee Prescott is determined to nurture creativity and imagination and capable of communicating new ideas and enthusiasm in the betterment of business portfolio and administration, authoritative leadership qualities can assist to incorporate a continuous improvement plan to collectively secure futuristic development programs ( Mummah et al. 2016). Furthermore, suitable geographical location, availability of multilingual and multicultural group-learning programs, streamlined supply chain across the European Union and adequate business community are assisting HN to build effective relations with suppliers and subcontractors to receive adequate opportunities and funds to mitigate occupational threats. Various distinct capabilities such as target-audience MNC marketing strategies, quality-adjusted business models and cloud-based services are influencing HN to execute premeditated planning into manufacturing practices through lean manufacturing principles.
Recommendations for Hidden Nation
Current fast-changing business environment and MNC engagements have created comprehensive limitations for small enterprises to emphasize innovative entrepreneurship spirit. However, incorporation of fact-driven infrastructure development programs, technological advancements and strategic planning can assist HN to secure productivity and profitability. This systematic empirical framework has provided extensive recommendations for HN to improve decisions in various positions which are enlisted below.
HN needs to nurture creativity and imagination to produce customized and cutting-edge technologies to enhance product value and recognition. The company must engage adequate resources, seek expertise solutions and techno-centric visionaries while effectively articulating the company's vision, mission and aesthetic values. Adequate communication between subordinates and stakeholders can help to produce brainstorming ideas to gain competitive advantages. Effective business community development initiatives through supplier and vendor management systems, nationwide distributorship and dealership networks and streamlined GVCs can be significant to reduce complexity and overhead costs.
HN must develop certain prototypes with multistage design specifications and high-tech products to attract distinct segments of consumers. Event-based campaigns, detailed analysis of previous experiences and improved forecasting mechanisms are necessary to be in place to eliminate legal obligations. Creation of concurrent roadmap, vibrant workplace ambience and conductive organizational culture can be significant for HN to improve creativity and innovation.
To mitigate financial implications and sale-profit ratio, the company must focus on secure financial sources, cash flow skills, and improve cost structure through in-house design and manufacturing principles to gain competitive advantages. Various distinct analysis of financial services including profit-loss projections, return on investment, total income-expenses rate and net income -total investment ratios are necessary to consider.
To improve organizational performance and productivity, development of adequate infrastructure, incorporation of various techniques including automation, artificial intelligence, IoT, robotics and business analytics can assist to improve core competencies. Lean manufacturing principles, fact-driven inventory management practices and outsourcing services can be followed to reduce costs and timelines.
Adequate optimization of techno-centric visionaries and technological advancements, systematic allocation of available resources and integrated information systems are significant to improve operational excellence and disruptive innovations. 4P and social media marketing strategies alongside traditional advertising practices including events, campaigns and promotional activities can be followed to improve recognition, brand value and loyalty programs.