Audio Transcript Auto-generated
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This is now the analysis of the various factors this
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way will be analyzing the various factors that have been
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previously developed to integrate them into four actions framework.
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She very canvas, blue Ocean strategy and lean style.
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So this is the four actions framework is adapted from
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china kim and more burn.
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Um So the fact is that we're going to create,
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we're going to create a demand in a existing market
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um through the use of the source of innovation through
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the spars and the health care, the skin care industry.
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So we're gonna be raising the training and knowledge of
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employees in the industry in areas such as having facial
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treatment. So they're able to develop more trust with their
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customers. Furthermore, we need to raise the image and reputation
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of the store once the local targeted demographic going to
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eliminate the stigma surrounding attitude towards men received more beauty
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treatments, especially in a barber in academy opposes a beauty
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salon and we're gonna reduce under a we're gonna operate
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under a lean startup attitude in order to reduce the
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time taken to plan and implement the ideas into the
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market. No, this is a strategic value converse.
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So as you can see in the blues general barbers
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in the orange is the high end bar beers and
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in the great is the low end barbers.
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Um So as you can see at the very end
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of the graph, the skin products and knowledge and training
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is going to be the factors, the value factors that
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are going to be added into the industry, um and
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some that are going to be raised the price um
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service at the time is gonna try and stay the
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same. The abilities book online is very hard selling hair
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products and the image of the store.
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So this is the Blue Ocean strategy.
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The barbering industry is currently operating within a radio show
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market environment as it is competing, competing in an existing
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market, hoping to accumulate more of the existing demand.
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They make a value.
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Such cost trade off in order to remain competitive in
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that particular market for our client.
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We're proposing that they create a new market with existing
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demand in order to make their competition irrelevant.
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The idea consists of implementing the use of their barber,
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an academy that they currently desire and scaling it up.
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That offers more training for their workforce.
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Furthermore, the employees will be trained in providing skin and
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hair care treatments in the future in order to appeal
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to a new market amongst men of all ages, it
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is important to eradicate the stigma surrounding the male facial
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and hair treatments in order to be successful in the
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future. Firstly, I believe that the company should accumulate a
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slightly larger workforce in order to meet the increased demand
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in Newmarket, and then uses increase in capital to facilitate
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the production of their barbarism.
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And finally, we have the lean startup, which does not
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require any form of taylor management process, However, they typically
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operate under a just do attitude, providing order rather than
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chaos amongst the workforce.
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Lean startup is a tool set for opportunity exploration that
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emphasizes the iterative experimentation and early customer inside lean startup
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is a scientific approach to starting up and managing a
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business so that ultimately the desire product ends up in
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the consumer's hands as quickly and as efficiently as possible.
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The process places a lot of emphasis on the scientific,
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scientific approach of validating hypotheses through the process of customer
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interaction and experimentation.
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One of the main principles of lean style emphasizes that
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it's highly important for employers to stop wasting time on
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planning and theorizing, but rather interact with as many customers
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as possible.
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This should resort in quickly developing a minimum viable product
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and receive rapid customer feedback.
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And import advocates of the lean startup approach argued that
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traditional management research offers far too little theory to guide
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the actions of leaders and provides no real application.
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Starves, Joel barbers have lots of opportunities on a day
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to day basis to interact and research customer trends and
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desires, which is the first step to producing a lean
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startup for future aspirations.
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Further, as a lean startup spares no time for implementation,
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Joel's can successfully and seamlessly implement ideas quicker well.