Big Idea

Only available on StudyMode
  • Download(s) : 374
  • Published : September 30, 2012
Open Document
Text Preview
Professor Harry E. Stucke

BIG GROUP CASE STUDY

By
Bhuiyan Shariful
Kudret Demirkol
Alam Mujub
Ye Yu

LONG ISLAND UNIVERSITY
February 27th, 2012

INTRODUCTION
The Big Idea Group (BIG) was created by Micheal Collins to help both inventors and corporations meet the innovation challenge. BIG partners with inventors and companies to identify, develop and bring to market innovative ideas. Before BIG Collins founded Kid Galaxy in 1994, a specialty toy company and became a producer of the award-winning Bendos line. Bendos, a line of Gumby-like figures eventually helped Kid Galaxy gross $5 million a year. But Collins, who held just a 4% stake in his company, says he felt there was little growth in store. Collin is exposed to Clayton M. Christensen, a Harvard Business school professor who posited a theory about why companies fail, even with great technology, in his book The Innovator's Dilemma. The professor gave him an endorsement and an undisclosed investment for an idea-hunting company. A year later Collins became a success with Tiny Totes, a set of mini-handbags girls could use to store collectibles. Tiny Totes was designed by an Indianapolis woman who had tried for a number of years to break into the toy business and Collins was able to give her the first break. Almost all of Collins' products are new ideas for toys and consumer products. Collins is now looking to diversify his company Big Idea Group (BIG) which has become successful in the toy industry

MBA 621 Prof. H. Stucke
“What’s the BIG Idea?”STRENGTHSWEAKNESSES
The process that BIG had developed worked in kid’s industry very well (Company policy) •BIG followed a four-step process that allows the company to enter the industries at an advantage (Company policy) •BIG’s unique concept and intelligent infrastructure add value on products and help carry a concept to the next level (Capacity Utilization) •BIG utilized its six primary sources of generating “superior idea flow” effectively •The Hunt benefited BIG to build a network of “professional” inventors to work with BIG on kid’s concepts (Interrelation)

In the course of the Hunts, the panel did not have a formal process for deciding what ideas to pursue •Kids were aging more quickly, growing out of toys and into other activities. It could cause damaging effect on the industry •The company’s lack of experience in home and garden industry would require maximizing expense and capacity to test the feasibility of this venture

THREATSPersonalization and niche markets were becoming increasingly important •High-tech-gadgets were competing with toy companies
Home and garden industry dwarfed the toy industry. It was time to go into other industries EXPLOIT

The Hunt brings together inventors from across the country and gives them an opportunity to present their ideas (Integration) ➢By receiving feedback from industry professionals, the inventors become more and more inspired from and engaged with the company ➢If BIG could find the right people to extend the company into other industries, it had the opportunity to be a tremendously successful and profitable company

UNDECIDED

The process that BIG had developed could work in numerous other industries ➢BIG wasn’t sure if it would be able to find the right people to extend the company into other industries ➢BIG was skeptical about going into home and garden. There were doubts if they can apply the same process they used in the toy industry OPPORTUNITIESBIG’s timing was perfect to enter the toy industry since the toy industry was extremely large (Timing of market entry) •Major toy companies outsourced their unsolicited inventor and vendor submissions to BIG, which benefits the toy companies, BIG, and the inventors.CONFRONTATION

BIG’s success within the toy industry inspired them to further pursue other industries with the same model ➢BIG process...
tracking img