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Business Project Based Internship Assignment

About

The Connective

 

Background: The company you will be doing an online internship with is called The Connective. It was formerly called Finn Connective, (Finnconnective.com). You can visit their website to get a little information about what the entrepreneur that started this company is like and see some of the things he has done in the past. He is in the business of connecting companies with opportunities.  

 

The Model: The Connective is a modified business idea and the owner would like to test its viability. Currently, there are 10 Connectors who on a monthly-basis seek out the needs of their clients, friends, and relatives. If a need arises they will connect the individuals with one of the company’s partner businesses to see if the business can provide the service or product needed. If a deal is made and the two parties agree to work together the Connectors receive a percentage of the commission The Connective receives from the business. Connectors are basically sales people always trying to make a deal for the business partners.

 

Additional Information: Project Document 1 (not attached here; see Canvas) gives an overview of how the business works, discusses the concept and then gives some examples of actual Connectors and Business Partners. This is all confidential information used for this class only.  

 

Project Goal: The objective for this internship is to figure out a way to make this business viable and scalable.  This will be determined by doing research into proving or disproving the model.   

In Phase I you will be completing a Competitive Analysis.

View the Phase I tutorial (below) to learn how to perform the research necessary to answer:

  1. Are there other companies doing this online on a large or small scale? If so, what does their model look like? What do these companies look like and how do they operate? 
  2. Who are the two major competitors for your client? Why did you select them? How does their model compare to The Connective’s current model? 
  3. How competitive is this industry? Is the competition based on price or nonprice competition?  
  4. Who are the suppliers in the industry and what type of power do they have?  
  5. To whom does your client sell their product or service to? What bargaining power to these customers have?  
  6. What is the likelihood that customers will switch to a different product or service? Why?  
  7. What is the probability that new competition can emerge in the market and why?  

In Phase II you will work on understanding the business model.

View the Phase II tutorial (below) to learn how to perform the research necessary to answer:

  1. How does The Connective build their model to grow?
  2. How does The Connective vet out companies on a large scale to make sure they are competent, reliable and can be valued participants in the program?
  3. How much can The Connective charge for their services (e.g. 10%)
  4. Are companies willing to give up a percentage simply for a referral/recommendation only? 

In Phase III you will work on building the business model. 

View the Phase III tutorial (below) to learn how to perform the research necessary to answer:

  1. How do you feel the website/app would function? What would be the general design and features? 
  2. How would you go about connecting opportunities with businesses? 
  3. How would you create a review point system similar to Yelp (or would you just pull reviews from Yelp)? 
  4. How does the commissions get paid out? What are the issues with payment and is there any software that could help? 

Phase I: Competitive Analysis

The Phase I video tutorial provides a walk-through of research strategies and resources necessary to complete this phase of the project. 

It can be helpful to return to tutorial as you move through your research. For reference, Questions 1,2 & 3 tutorial begins at 2:30. Questions 4, 5 & 6 begin at 4:40. Question 7 begins at 7:01.

View the Phase I tutorial to learn how to perform the research necessary to answer:

  1. Are there other companies doing this online on a large or small scale? If so, what does their model look like? What do these companies look like and how do they operate? 
  2. Who are the two major competitors for your client? Why did you select them? How does their model compare to The Connective’s current model? 
  3. How competitive is this industry? Is the competition based on price or nonprice competition?  
  4. Who are the suppliers in the industry and what type of power do they have?  
  5. To whom does your client sell their product or service to? What bargaining power to these customers have?  
  6. What is the likelihood that customers will switch to a different product or service? Why?  
  7. What is the probability that new competition can emerge in the market and why?  

Phase II: Understanding the Model

The Phase II video tutorial provides a walk-through of research strategies and resources necessary to complete this phase of the project. 

It can be helpful to return to tutorial as you move through your research. For reference, the question 1 tutorial begins at 1:01. Question 2 begins at 4:07. Questions 3 & 4 being at 8:15.

View the Phase II tutorial to learn how to perform the research necessary to answer:

  1. How does The Connective build their model to grow?
  2. How does The Connective vet out companies on a large scale to make sure they are competent, reliable and can be valued participants in the program?
  3. How much can The Connective charge for their services (e.g. 10%)
  4. Are companies willing to give up a percentage simply for a referral/recommendation only? 

Phase III: Building the Model

The Phase III video tutorial provides a walk-through of research strategies and resources necessary to complete this phase of the project. 

View the Phase III tutorial to learn how to perform the research necessary to answer:

  1. How do you feel the website/app would function? What would be the general design and features? 
  2. How would you go about connecting opportunities with businesses? 
  3. How would you create a review point system similar to Yelp (or would you just pull reviews from Yelp)? 
  4. How does the commissions get paid out? What are the issues with payment and is there any software that could help?