B205A – Exploring Innovation and Entrepreneurship
Tim Lewis Fills a Niche
Tim Lewis owns T. A. Lewis Associates in Birmingham, Alabama, a consulting firm that designs telephone, data, and video systems. In this information age, Lewis’ success might seem expected, but it is based on experience, hard work, and finding a market niche.
In his hometown of Tuscaloosa, about 35 miles of Birmingham, Lewis gained both business and technical skills. While in high school, he worked as a salesperson at a local shoe store and served as a business manager for a local community choir.
After earning a degree from the University of Alabama, Lewis became an account manager and sales trainer for TMC, a new and growing long-distance phone company. When he went to many companies to sell long-distance service, executives would ask him many questions and seek his advice. The buyers wanted his opinion on fax machines, voice-mail systems, and copy machines. They wanted some knowledgeable person to give them fair and unbiased answers. Lewis offered suggestions, and most of the time his advice turned out to be right, so they kept asking him.
Questions
- B 205A (Exploring Innovation and Entrepreneurship) has given us various tools and methods in analyzing and extracting a new idea which is considered to be valuable and profitable if implemented properly.
- Explain in depth the five- step model described in B205A Block 01 Week 02
- Explain the key factors that influence Tim to exploit the entrepreneurial opportunity provided in the case using the five- step model described in the course. (500 words, 20 marks) B205A Block 01 Week 02
- Based on the case above, Provide two examples and explain them in details to evaluate Tim’s approach to identifying the market niche using characteristics of successful entrepreneurs. (300 words, 20 marks) B205A Block 01 Week 02
- The key to innovation and entrepreneurial success lies in the ability to make effective use of individual and shared knowledge
- Explain whether Tim is an inventor or innovator. Your answer must be supported and justified in relation to course materials presented in B205A
Explain whether Tim is an inventor or innovator. Your answer must be supported and justified in relation to course materials presented in B205A (300 words, 10 marks) B205A Block 01 Week 04