Ghosh, Tamanash (2018) Vital Core Business. Master's Internship Report, Molecular Biology and Biotechnology (2016-2019).
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Abstract
Vital Core Business (VCB) is a start-up organization in the health care sector in Drachten. The idea of the company is to provide services which leads to the well-being of a person as a whole. The strategic planning of providing the service is divided in 3 levels which makes the product unique but ambitious as well. VCB will provide services in (individual, team and organization) levels which leads to the wellness of a person. The product of VCB describes healing of an entire human being and not by parts, which we often notice in conventional care. The idea and vision of the company is precise but the business as a whole lack many features and needs to improve a lot to survive in the market. VCB has the network to start the business now, but soon it needs to pivot the product strategically to survive in the market for long- term. The company lacks long-term vision with an ambitious product concept. The finished product demands scientific backing and the key information in building trust among the clients. With coaches as partners from different fields it will bring innovation in one hand but might create disharmony among the partners on the other. The company’s structure lack as a strong pluggable synergic unit at this moment. The business as a whole is missing in many directions, for e.g. financial assets, network of investors and marketing strategies. Due to lack of many aspects needed to fulfil before launching the product a chaos in the company was observed. For the survivability in the market knowing the mistakes that the start-ups have made previously, will be effective for VCB. To analyse the start-up as a whole where VCB currently stands in the market with its product the research took a definite direction. As a scientific advisor I researched on the business as well as on the scientific part of the product. The business part was researched with analysing the internal and external aspects of VCB. The scientific part was researched with the new approaches in health care. The learning goals for the company was given so that VCB does not repeat the same mistakes as the start-ups have made previously. Common reasons for a start-ups failure were analysed. The reasons regarding VCB were taken into consideration. The methodology used in the research was mostly based on literature study, books, reviews on previous similar works done by others, interviews of the coaches, doctors, and University students of Groningen, SBP tools during the courses of the program and an extracurricular course on Entrepreneurship, networking with the established entrepreneurs and investors in Groningen. The main aim of the Internship was to give advices on the product development and solutions to the possible reasons for its failure. The advises are based on solving the issues which are potential danger for VCB’s survival. Strategic timeframe planning was done to identify the goals on the basis of priorities for VCB. Issues are discussed regarding VCB and possible solutions are advised to resolve the issues. The advices will lead to the product development and VCB will have greater chances to survive in the competitive market. VCB is a company which is dependent on partners and advices on keeping healthy partnership that has been inferred as major conclusions.
| Item Type: | Thesis (Master's Internship Report) |
|---|---|
| Supervisor name: | Abma, A.J. and Scheurink, A.J.W. |
| Degree programme: | Molecular Biology and Biotechnology (2016-2019) |
| Thesis type: | Master's Internship Report |
| Language: | English |
| Date Deposited: | 27 Aug 2018 |
| Last Modified: | 04 Sep 2018 14:26 |
| URI: | https://fse.studenttheses.ub.rug.nl/id/eprint/18402 |
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