GOQii: Envisioning a New Fitness Future (A)

GOQii: Envisioning a New Fitness Future (A) Description

Gondal, a serial entrepreneur, was supported by top technology experts in GOQii's angel round of funding. Case A details GOQii's journey from its incorporation in 2014 until April 2016. It describes GOQii's product-service offering of wearable fitness band technology supplemented with remote personalized coaching, its launch in the Indian market, and its emergence as a pioneer of a new category of product in the health and lifestyle space that had the ability to integrate human assistance with built-in artificial intelligence. Gondal realized that while people were adopting wearable technology solutions for healthy living, there was still a lack of awareness and an air of hesitancy about the usefulness of and need for wearable devices in India. Gondal's dilemma: whether to continue GOQii's positioning as "wearable technology with personalized coaching" and aggressively expand globally, or consolidate and broaden his present offering by embracing the customer more fully and focusing on the "customer healthcare journey" in India. Case B picks up from October 2016, by which time GOQii had consolidated and broadened its offering by focusing on the "customer journey" in India. It had successfully on-boarded different service providers such as doctors, a diagnostic center chain, a hospital chain, sports and grocery stores and Axis Bank (for payments) on their platform, thus providing a complete health ecosystem to the GOQii user. By the second quarter of 2016, GOQii had achieved the number one spot in the Indian wearables market. The immediate decision that GOQii core team need to make is whether they should tie up with multiple insurance providers or explore the possibility of partnering with a reinsurer to complete the entire health spectrum services offering on their data platform. The two cases allow for an in-depth discussion on the key role of a business model in ensuring the competitive advantage and sustained success of a business venture.

Case Description GOQii: Envisioning a New Fitness Future (A)

Strategic Managment Tools Used in Case Study Analysis of GOQii: Envisioning a New Fitness Future (A)

STEP 1. Problem Identification in GOQii: Envisioning a New Fitness Future (A) case study

STEP 2. External Environment Analysis - PESTEL / PEST / STEP Analysis of GOQii: Envisioning a New Fitness Future (A) case study

STEP 3. Industry Specific / Porter Five Forces Analysis of GOQii: Envisioning a New Fitness Future (A) case study

STEP 4. Evaluating Alternatives / SWOT Analysis of GOQii: Envisioning a New Fitness Future (A) case study

STEP 5. Porter Value Chain Analysis / VRIO / VRIN Analysis GOQii: Envisioning a New Fitness Future (A) case study

STEP 6. Recommendations GOQii: Envisioning a New Fitness Future (A) case study

STEP 7. Basis of Recommendations for GOQii: Envisioning a New Fitness Future (A) case study

Case Analysis of GOQii: Envisioning a New Fitness Future (A)

GOQii: Envisioning a New Fitness Future (A) is a Harvard Business (HBR) Case Study on Innovation & Entrepreneurship , Texas Business School provides HBR case study assignment help for just $9. Texas Business School(TBS) case study solution is based on HBR Case Study Method framework, TBS expertise & global insights. GOQii: Envisioning a New Fitness Future (A) is designed and drafted in a manner to allow the HBR case study reader to analyze a real-world problem by putting reader into the position of the decision maker. GOQii: Envisioning a New Fitness Future (A) case study will help professionals, MBA, EMBA, and leaders to develop a broad and clear understanding of casecategory challenges. GOQii: Envisioning a New Fitness Future (A) will also provide insight into areas such as – wordlist , strategy, leadership, sales and marketing, and negotiations.

Case Study Solutions Background Work

GOQii: Envisioning a New Fitness Future (A) case study solution is focused on solving the strategic and operational challenges the protagonist of the case is facing. The challenges involve – evaluation of strategic options, key role of Innovation & Entrepreneurship, leadership qualities of the protagonist, and dynamics of the external environment. The challenge in front of the protagonist, of GOQii: Envisioning a New Fitness Future (A), is to not only build a competitive position of the organization but also to sustain it over a period of time.

Strategic Management Tools Used in Case Study Solution

The GOQii: Envisioning a New Fitness Future (A) case study solution requires the MBA, EMBA, executive, professional to have a deep understanding of various strategic management tools such as SWOT Analysis, PESTEL Analysis / PEST Analysis / STEP Analysis, Porter Five Forces Analysis, Go To Market Strategy, BCG Matrix Analysis, Porter Value Chain Analysis, Ansoff Matrix Analysis, VRIO / VRIN and Marketing Mix Analysis.

Texas Business School Approach to Innovation & Entrepreneurship Solutions

In the Texas Business School, GOQii: Envisioning a New Fitness Future (A) case study solution – following strategic tools are used - SWOT Analysis, PESTEL Analysis / PEST Analysis / STEP Analysis, Porter Five Forces Analysis, Go To Market Strategy, BCG Matrix Analysis, Porter Value Chain Analysis, Ansoff Matrix Analysis, VRIO / VRIN and Marketing Mix Analysis.

We have additionally used the concept of supply chain management and leadership framework to build a comprehensive case study solution for the case – GOQii: Envisioning a New Fitness Future (A)

Step 1 – Problem Identification of GOQii: Envisioning a New Fitness Future (A) - Harvard Business School Case Study

The first step to solve HBR GOQii: Envisioning a New Fitness Future (A) case study solution is to identify the problem present in the case. The problem statement of the case is provided in the beginning of the case where the protagonist is contemplating various options in the face of numerous challenges that Goqii Goqii's is facing right now. Even though the problem statement is essentially – “Innovation & Entrepreneurship” challenge but it has impacted by others factors such as communication in the organization, uncertainty in the external environment, leadership in Goqii Goqii's, style of leadership and organization structure, marketing and sales, organizational behavior, strategy, internal politics, stakeholders priorities and more.

Step 2 – External Environment Analysis

Texas Business School approach of case study analysis – Conclusion, Reasons, Evidences - provides a framework to analyze every HBR case study. It requires conducting robust external environmental analysis to decipher evidences for the reasons presented in the GOQii: Envisioning a New Fitness Future (A).

The external environment analysis of GOQii: Envisioning a New Fitness Future (A) will ensure that we are keeping a tab on the macro-environment factors that are directly and indirectly impacting the business of the firm.

What is PESTEL Analysis? Briefly Explained

PESTEL stands for political, economic, social, technological, environmental and legal factors that impact the external environment of firm in GOQii: Envisioning a New Fitness Future (A) case study. PESTEL analysis of " GOQii: Envisioning a New Fitness Future (A)" can help us understand why the organization is performing badly, what are the factors in the external environment that are impacting the performance of the organization, and how the organization can either manage or mitigate the impact of these external factors.

How to do PESTEL / PEST / STEP Analysis? What are the components of PESTEL Analysis?

As mentioned above PESTEL Analysis has six elements – political, economic, social, technological, environmental, and legal. All the six elements are explained in context with GOQii: Envisioning a New Fitness Future (A) macro-environment and how it impacts the businesses of the firm.

How to do PESTEL Analysis for GOQii: Envisioning a New Fitness Future (A)

To do comprehensive PESTEL analysis of case study – GOQii: Envisioning a New Fitness Future (A) , we have researched numerous components under the six factors of PESTEL analysis.

Political Factors that Impact GOQii: Envisioning a New Fitness Future (A)

Political factors impact seven key decision making areas – economic environment, socio-cultural environment, rate of innovation & investment in research & development, environmental laws, legal requirements, and acceptance of new technologies.

Policy Making Impact on GOQii: Envisioning a New Fitness Future (A)

Government policies have significant impact on the business environment of any country. The firm in “ GOQii: Envisioning a New Fitness Future (A) ” needs to navigate these policy decisions to create either an edge for itself or reduce the negative impact of the policy as far as possible.

Data safety laws – The countries in which Goqii Goqii's is operating, firms are required to store customer data within the premises of the country. Goqii Goqii's needs to restructure its IT policies to accommodate these changes. In the EU countries, firms are required to make special provision for privacy issues and other laws.

Competition Regulations – Numerous countries have strong competition laws both regarding the monopoly conditions and day to day fair business practices. GOQii: Envisioning a New Fitness Future (A) has numerous instances where the competition regulations aspects can be scrutinized.

Import restrictions on products – Before entering the new market, Goqii Goqii's in case study GOQii: Envisioning a New Fitness Future (A)" should look into the import restrictions that may be present in the prospective market.

Export restrictions on products – Apart from direct product export restrictions in field of technology and agriculture, a number of countries also have capital controls. Goqii Goqii's in case study “ GOQii: Envisioning a New Fitness Future (A) ” should look into these export restrictions policies.

Foreign Direct Investment Policies – Government policies favors local companies over international policies, Goqii Goqii's in case study “ GOQii: Envisioning a New Fitness Future (A) ” should understand in minute details regarding the Foreign Direct Investment policies of the prospective market.

Taxation & Regulation Impact on GOQii: Envisioning a New Fitness Future (A)

Corporate Taxes – The rate of taxes is often used by governments to lure foreign direct investments or increase domestic investment in a certain sector. Corporate taxation can be divided into two categories – taxes on profits and taxes on operations. Taxes on profits number is important for companies that already have a sustainable business model, while taxes on operations is far more significant for companies that are looking to set up new plants or operations.

Tariffs – Chekout how much tariffs the firm needs to pay in the “ GOQii: Envisioning a New Fitness Future (A) ” case study. The level of tariffs will determine the viability of the business model that the firm is contemplating. If the tariffs are high then it will be extremely difficult to compete with the local competitors. But if the tariffs are between 5-10% then Goqii Goqii's can compete against other competitors.

Government Scheme & Subsidies Impact on GOQii: Envisioning a New Fitness Future (A)

Research and Development Subsidies and Policies – Governments often provide tax breaks and other incentives for companies to innovate in various sectors of priority. Managers at GOQii: Envisioning a New Fitness Future (A) case study have to assess whether their business can benefit from such government assistance and subsidies.

Consumer protection – Different countries have different consumer protection laws. Managers need to clarify not only the consumer protection laws in advance but also legal implications if the firm fails to meet any of them.

Political System & Stability, and its Impact on GOQii: Envisioning a New Fitness Future (A)

Political System and Its Implications – Different political systems have different approach to free market and entrepreneurship. Managers need to assess these factors even before entering the market.

Freedom of Press is critical for fair trade and transparency. Countries where freedom of press is not prevalent there are high chances of both political and commercial corruption.

Corruption level – Goqii Goqii's needs to assess the level of corruptions both at the official level and at the market level, even before entering a new market. To tackle the menace of corruption – a firm should have a clear SOP that provides managers at each level what to do when they encounter instances of either systematic corruption or bureaucrats looking to take bribes from the firm.

Independence of judiciary – It is critical for fair business practices. If a country doesn’t have independent judiciary then there is no point entry into such a country for business.

Government attitude towards trade unions – Different political systems and government have different attitude towards trade unions and collective bargaining. The firm needs to assess – its comfort dealing with the unions and regulations regarding unions in a given market or industry. If both are on the same page then it makes sense to enter, otherwise it doesn’t.

Economic Factors that Impact GOQii: Envisioning a New Fitness Future (A)

Social Factors that Impact GOQii: Envisioning a New Fitness Future (A)

Technological Factors that Impact GOQii: Envisioning a New Fitness Future (A)

Environmental Factors that Impact GOQii: Envisioning a New Fitness Future (A)

Legal Factors that Impact GOQii: Envisioning a New Fitness Future (A)

Step 3 – Industry Specific Analysis

What is Porter Five Forces Analysis

PESTEL stands for political, economic, social, technological, environmental and legal factors that impact the external environment of firm in GOQii: Envisioning a New Fitness Future (A) case study. PESTEL analysis of " GOQii: Envisioning a New Fitness Future (A)" can help us understand why the organization is performing badly, what are the factors in the external environment that are impacting the performance of the organization, and how the organization can either manage or mitigate the impact of these external factors.

Step 4 – SWOT Analysis / Internal Environment Analysis

Step 5 – Porter Value Chain / VRIO / VRIN Analysis

Step 6 – Evaluating Alternatives & Recommendations

Step 7 – Basis for Recommendations

References :: GOQii: Envisioning a New Fitness Future (A) case study solution