Reference no: EM133398947
Case Scenario
Anna Yang is a chemist who works at Moderna. While she enjoys her work there, her true passion is cooking. Specifically, Anna enjoys recreating her great grandfather's recipes from Imperial China. She has gained quite a reputation in the foodie community and decided to start a supper club where people would pay to come to her home and eat her cooking.
Jose Martinez is an investment banker. He and his partners focus on start-up businesses. Jose has attended several of Anna's supper clubs. He has been blown away by Anna's cooking, but especially her deserts. Anna makes her own ice cream using a very complicated process. What is especially different about them is that Anna uses traditional Chinese flavors in her ice cream such as Sichuan Peppercorn that makes the tongue tingle. Jose thinks there is a national and possibly an international market for these ice creams.
Jose approaches Anna with the idea of leaving her day job and opening a business that would sell her ice creams. Anna is thrilled with the idea, but is a bit concerned that she has little business experience. Jose assures her that with the right plan, he and his partners could raise the funds needed and guide her through the process. He offers to set up a meeting with his partners.
He sends the following email:
To: Anna Yang
From: Jose Martinez
Re: Ice Cream Start-Up
To get you started, I would like you to make a memo that addresses the following issues:
Why do you think you can design a successful start-up? What traits will you need to be an entrepreneur?
What kind of leadership style would you use, and why?
Describe your product and why you think there is a market for it.
What legal form do you think best suits your start-up and why?
What kind of financial document should you provide so that I can evaluate the viability of your start-up?
What are the characteristics of your target market?
Explain specific types of marketing the business should pursue.
What other sources of funding might be available for you, whether or not we invest in your start-up?
How would you organize your management team, and which of these positions would you prioritize in filling?
What brand name do you propose for your ice cream, and why did you choose it?
You are a good friend of Anna's. She respects you for your degree in Business and Management and your good business sense. Anna feels inadequate in the details of business and asks you to draft the requested memo for her.
Instructions
Draft the requested memo under Anna's name. Draw on the learning resources that are in the classroom to influence your answers. This is not a research-based project, so do not use any sources other than the course materials.