T-Mobile 9:43 PM elearn.monroecollege.edu Case Study Analysis 3 of 3 1-21. Evalu

Question

T-Mobile 9:43 PM elearn.monroecollege.edu Case Study Analysis 3 of 3 1-21. Evaluate how Foursquare fits Schum- peter's definition and the five basic ways entrepreneurs find opportunities to cre- ate new businesses. 1-22. Compare Selvadurai's seven formulas with the seven rules for building a suc- cessful business in this text. 1-23. Apply Porter's generic strategies to the industry in which Foursquare competes using case information and your own knowledge. Synthesize your analysis. Based on this work, what did you find:? 1-24. What prepared the founders to create Foursquare? 1-25. What gaps in the founders' team and resources needed to be filled by outside sources? Name four specific resources they acquired 1-26. Identify the features and benefits the founders included in the app to ensure its popularity. Why were these selected? 1-27. Is Foursquare the only app of its kind? If not, what other apps are similar? 1-28. What future do you predict for Foursquare? Case Sources Spencer E. Ante, "Foursquare locates new funds to expand," The Wall Street Journal, June 28, 2010, ac- June 30, 2013, http://online.wsj.com/article/ B10001424052748704846004575333222375027784 html. Foursquare," Crunchbase, accessed June 29, 013, http://www.crunchbase.com/company/ ursquane

Explanation / Answer

1-21) Foursquares fits Schumpeter's definition in the fact that Crowley and Selvadurai used their extensive knowledge in technology and overhauled an invention to produce a new product. They used new technologies to produce new products such as Dodgeballs. They also used existing technology to produce old product in a new way. They used new supply of resources to seek venture capital in multiple offerings. New market for existing products were also developed.

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