full answers Vendquest
1. Explain the business idea that Kurt Conti was considering. What is his business model?
Conti’s business idea is an online trading platform business model which connecting supplier and purchaser (e-commerce) which would be easier, quick, cheap and paperless business transaction.
2. How did he spot the business opportunity? How did he surface?
As the construction equipment industry’s order management cycle is typical of many business transactions. Manufacturers of heavy equipment, such as Caterpillar and Komatsu, work with regional distributers to fulfil construction company orders. After purchasing one or more pieces of heavy equipment, the construction firm will typically need to order repair parts from time to time.It is not an efficient and cause a problem and pain to the customer.
Therefore Conti identifying and recognizing an opportunity to get buyers and seller together by mean of an application that combined a search engine and an e-commerce system for other commercial transaction. He also saw as fragmented and inefficient processes for selling and buying replacement parts for construction equipment, trucking, and other heavy equipment. This business idea will definitely will save time, money and labour.
3.What was his previous work experience? Was it helpful in identifying and developing new business opportunity? How did it relate to spot a new business opportunity?
Kurt Conti was the CEO of Conti Enterprises which spedicalized in construction and heavy equipment industries for many years. During those years, he realized that some areas of the business were operating inefficiently and he intended to provide a solution for a better service. That was the start of developing new business opportunity for Kurt Conti. Being in the industry, he was motivated to keep finding a better alternatives of doing things. The motivation Conti possessed in himself was what helped him spot a new business opportunity apart from his outstanding experience.
4. Explain the
Conti’s business idea is an online trading platform business model which connecting supplier and purchaser (e-commerce) which would be easier, quick, cheap and paperless business transaction.
2. How did he spot the business opportunity? How did he surface?
As the construction equipment industry’s order management cycle is typical of many business transactions. Manufacturers of heavy equipment, such as Caterpillar and Komatsu, work with regional distributers to fulfil construction company orders. After purchasing one or more pieces of heavy equipment, the construction firm will typically need to order repair parts from time to time.It is not an efficient and cause a problem and pain to the customer.
Therefore Conti identifying and recognizing an opportunity to get buyers and seller together by mean of an application that combined a search engine and an e-commerce system for other commercial transaction. He also saw as fragmented and inefficient processes for selling and buying replacement parts for construction equipment, trucking, and other heavy equipment. This business idea will definitely will save time, money and labour.
3.What was his previous work experience? Was it helpful in identifying and developing new business opportunity? How did it relate to spot a new business opportunity?
Kurt Conti was the CEO of Conti Enterprises which spedicalized in construction and heavy equipment industries for many years. During those years, he realized that some areas of the business were operating inefficiently and he intended to provide a solution for a better service. That was the start of developing new business opportunity for Kurt Conti. Being in the industry, he was motivated to keep finding a better alternatives of doing things. The motivation Conti possessed in himself was what helped him spot a new business opportunity apart from his outstanding experience.
4. Explain the