This article explores a new way to think about business opportunities.
Appropriate Subject Area(s):
Entrepreneurship, business management, marketing
Key Questions to Explore:
- Where do ideas for new ventures come from?
Introduction to lesson and task:
This lesson looks at the concept of excess capacity and how it can be the basis of new ventures.
Action (lesson plan and task):
- Ask students what they think excess capacity means. How would they define it relative to a business venture?
- Distribute the article for reading.
- In groups of four, ask students to identify businesses that have developed as a result of excess capacity. They should think big and think small.
- Have students brainstorm new ideas for using excess capacity to create a venture.
- Ask students to think of examples of ventures that sliced, aggregated, or opened up the platform to support new ideas.
- Have students brainstorm other ways this might happen.
- Have students discuss the relevance of peer power and why it is so critical to the success of a venture.
Consolidation of Learning:
- Using one of the ideas brainstormed from the groups, have students create a mini plan to utilize the platform and peer power to grow the venture. Have them explain the rationale behind their decisions.
- Students understand the value of excess capacity when it comes to creating a venture, big or small.
- Have students write a one minute paper on how this concept for business development is unique.