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My Views on Entrepreneurshi Entrepreneurship
30/10/2011 My Views on Entrepreneurship Entrepreneurshi p Randy Westgren University of Missouri Al and Mary Agnes McQuinn What Entrepreneurship Isn’t… Joseph Schumpeter Supply Chains and Entrepreneurship CONSUMER FOOD DISTR. FOOD MFR 1ST HANDLER FARM INPUT SUPPLY 1 30/10/2011 What product attributes are important to the consumer? INPUT SUPPLY FARM 1ST HANDLER FOOD MFR FOOD DISTR. Biophysical Nutritive attributes Organoleptic attributes Process P Organic, Animal welfare, Artisanal methods Food safety, IPM Extrinsic Origin, Lifestyle Lifestyle,Novelty ,Novelty,, Brand name CONSUMER What product attributes are important to producers? Yield What product attributes are important to customers? Milling characteristics Baking characteristics Agronomic properties Blending characteristics Waste vs. Product yield Storability Transportability and storability What are the transaction attributes that matter? Retail shopping experience Point of Purchase and PostPost-purchase communication and learning A brief aside on micromicroeconomics Business Business--to to--Business service bundle Testing vs. Certification vs. Traceability 2 30/10/2011 Price Price Supply P1 Supply $ Market Price Market Price Demand Market Quantity Quantity Demand Q1 Quantity Price ADDITIONAL REVENUE IF WE SELL AT PRICES PEOPLE ARE WILLING TO PAY P1 P2 A More Realistic View of AgriAgri-Food Supply P3 P4 Market Price Demand REVENUE IF WE SELL AT MARKET (COMMODITY) PRICE Quantity Q1 Q1 Q1 Q1 Q1 The Supply Web Identifying new market opportunities INPUTS FARMS 1st Handlers MFG DIST CONSUMER SEGMENTS 3 30/10/2011 SHATTO DAIRY Green Dirt Farm 4 30/10/2011 Green Dirt Farm Baker Creek Heirloom Seeds Baker Creek Cowgirl Creamery 5 30/10/2011 Can Entrepreneurship Be Taught? Bill Niman A fourfour-module course TOURS OPPORTUNITY RECOGNITION KNOW THYSELF TOURS TOURS OPPORTUNITY SCREENING BRAND BUILDING MARKETING ECONOMICS OF CONTRACTS CONSUMER BEHAVIOR FAMILY BUSINESS BASIC FINANCE CASH MANAGEMENT TOURS PRESENT AND CRITIQUE VENTURE PLANS COLLECTIVE E-SHIP STRATEGIC FINANCE CONNECTIONS 6
