1. Chapter 2 discusses three types of start-up ideas: Type A, Type B, Type C. Which of these is illustrated by Biolife’s start-up based on its QR product?
Questions
1. Chapter 2 discusses three types of start-up ideas: Type A, Type B, Type C. Which of
these is illustrated by Biolife’s start-up based on its QR product?
2. Most new business ideas come from personal experience, hobbies, accidental discoveries,
or a deliberate search. From which of these sources did the idea for Biolife’s
launch come?
3. Considering what you have learned about this start-up and its development, would you
say that the founders followed more of an outside-in or inside-out approach to identify
this business opportunity and launch the company? Explain your answer.
4. Conduct a SWOT analysis of the company. What do you think are Biolife’s most
significant strengths, weaknesses, opportunities, and threats?
5. How would you characterize the strategy that Biolife is following? Is it a cost-based or
differentiation-based strategy? Or is it a focus strategy centred on one of these two
fundamental strategies? Be sure to identify the facts or assumptions on which you
based your conclusion.