Lesson 2.2: Develop Ideas for Your Startups
Introduction & Review (30 Minutes)
1. Review Session (20 Minutes):
- Facilitate a class discussion to revisit key concepts:
- Porter’s Competitive Strategies (Cost Leadership, Differentiation, Focus).
- Five Forces Framework (Competitive Rivalry, Threat of New Entrants, Bargaining Power of Buyers, Bargaining Power of Suppliers, Threat of Substitutes).
- Use real-world examples (e.g., Walmart for Cost Leadership, Apple for Differentiation) to connect these frameworks to practical applications.
2. Discussion (10 Minutes):
- Pose reflective questions to deepen understanding:
"How can understanding competitive strategies and industry forces help shape a strong business idea?"
"Can you think of a business that successfully applies these strategies?"