Springy Fields: An Entrepreneur’s Dilemma Case Solution
The Springy Fields an Entrepreneur’s Dilemma Case focuses on contemporary management and strategic dilemma that the business is facing, which should be managed sensitively for the firm to advance and stay competitive. entrepreneur Tom Wilson is faced with a dilemma, he needs to figure out the best approach to develop his adult sports and entertainment firm, Springy Fields. Tom chose to transform his side business of operating an Overall Frisbee league into full-time employment when the economic ramifications of September cost him his structural engineering job. Tom’s league developed over time, and he expanded his interests to include volleyball, hockey, kickball, and flash ball. Tom knew he needed and had held steady a whole new growth plan as when the 2010 season began. Each of the several options for expansion came with its own set of lifestyle repercussions and financial hazards. The case investigates the several problems involved in designing a development plan that is compatible with Tom’s money and lifestyle objectives.
Tom’s target market and Characteristics of the target market
The target market of Tom’s recreational league was the rural community of spring field where he lived in a small southern Ontario city. About 125,000 population live there, they would only have to drive 20-30 minutes to acquire this facility to play in the springy field. The transient students from small to middle-sized universities, as well as from community colleges, but small demand from young adult students who had on-campus opportunities to access the recreational sports.
Following are the characteristics of Tom’s target market, such as: age, gender, social class, geographic and psycho-graphic(2017).
|Social Class||Middle-class people|
|Age||20-30 years old|
|Psycho-graphic||Motivated to drive 20-30 minutes|
Question No: 2
PESTEL Analysis for spring field
Political analysis:Various political groups have reached an agreement on the rate of taxation and investment strategies. Over time, the government has attempted to reduce the entrance hurdle to-simplify the tax system.
Economic analysis:The most important economic factor that tom should take into consideration before entering a new market is the inflation rate if there is a high inflation rate tom will not be able to stick to a cost leadership strategy. the bank interest rate in Canada is 0.5% which is much lower for tom to borrow for expansion (Bank of Canada, 2021).
A volatile Forex market can lead to failure, so Tom should focus closely on the Forex inflows and outflows, as most of the competitors got failure and lost money in past.
Social analysis:Tom should take into consideration the motive of existing and potential customers behind joining his sports league means the buying behavior of customers.
Demographic fluctuations are a strong social indication for Tom Springy to forecast not just the overall economic pattern, but also demand for Tom Springy products amongst main consumer categories.
Technological analysis:For Tom Springy, 5G has the potential to change the business environment, particularly in terms of marketing and advertising.
Speed will become more important than planning as artificial intelligence and machine learning become more prevalent. Tom Springy will have to devise tactics to operate in such setting.As technology advancing there are more options for tom to promote its business…………………….
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