Threat: Current rivals include private enterprise education organizations, entrepreneurship programme produced by China universities, college entrepreneurship clubs, and incubators which provide workshops, lectures, seminars for people to learn entrepreneurial skills. It seems that the competition is fierce, while, these competitors can be classified into two types:
a. The first type is high quality with high price (private enterprise education organization): Doer's education group, for instance, it cooperates with Excellerated Business School which started teaching Money & You course since 1978, while an 8-days Business School for Entrepreneurs (BSE) courses charges £ 10196, this price is too high for most of university students.
b. The second type is low quality with low price (services provided by China universities and incubators): In consonance with the report released by Center for China & Globalization(CCG), more than two third (64.54%) of China university students think that the entrepreneurial resources provided by universities are not abundant enough (Ccg.org.cn, 2017). In addition, most of the incubators in China are short of entrepreneurial education resources, some of them even do not have mentors at their centre to guide entrepreneurs.
Solution: Align with China universities, college entrepreneurship clubs, and incubators to utilise entrepreneurial resources in a more effective way. It will be difficult to cooperate with private enterprise education organizations, however their
customer segment is different to Venture World at this moment, so the lowest risk strategy is avoiding competing with them at this stage.
2.2.3 Competitors intelligences analysis
Doers Education Group NetEase Cloud Venture World Value
Proposition
Help people to start up their business in shortest time, with lowest risk.
Focus on enhancing people's skills and capabilities on work via internet.
Venture World is an online platform and community that provide high quality entrepreneurial resources for China university students to start up business.
Competitive Advantage
．Combine Southeast Asia
resources.
．Strong network with successful entrepreneurs.
One of the most famous online course platforms in China.
Integrate online courses and offline activities to help
entrepreneurs learn the business skills and knowledge more effectively and more affordably.
Product Features
DBS entrepreneurship programme, it is an 8 days course let entrepreneurs have opportunity to learn from successful business founders directly.
The contents of this
Massive online courses cover financial management, professional certification programme, IT, and so on.
．Well-structured enterprise
education system introduced from UK.
．In-person seminars and workshops can let entrepreneurs learn by doing.
programme includes corporate social
responsibility, self-discipline, business plan, and
crowdfunding.
．Online community connect
entrepreneurs, investors, mentors in UK and China together.
Price £ 10196 £ 11 ~ £ 57 £ 20 ~ £ 300
Distribution Channel
．Official website.
．Magazine: Global
View Monthly.
．Social media: Weibo, Sina
blog.
．In-person product presentation.
．Official website.
．News: China's daily,
People's daily.
．Social media: Weibo.
．Affiliate Marketing.
．Official website.
．Social media: Weibo, WeChat.
．Affiliate Marketing
3. Research Methodology
The information in Market and Industry Analysis reveals that the market of enterprise education industry is still at the beginning stage, and the growth potential in the near future is significant. The assumptions based on Market and Industry Analysis will be tested by an online survey to confirm market needs and gain insight into customer behavior. And a Minimum Viable Product of Venture World will be designed and delivered to target market to start the learning process and pivot the business in Market Research section.
3.1 Initial Assumption
A. People will pay for learning entrepreneurial skills through online courses platform and in-person workshops.
B. Based on China’s government policies of encouraging people to start up business, providing financial support and preferential treatment for university students who want to be entrepreneurs, the university students will be more willing to build their businesses when they are still studying at university or when they graduate.
C. The biggest challenges that people think stopping them from startup is lack of sufficient funds and finding ideal workplace. While they might not discover the importance of enterprise education.
D. University students should have higher interest in startup than other people.
Therefore, Venture World should firstly focus on this customer segmentation.
3.2 Research Access and Ethics
The purpose of this research project is to have a research on enterprise education environment in China. This is a research project being conducted by Kang Kuo at the University of Surrey. The participation in this research study is voluntary and may choose not to participate. If participants decide to participate in this research survey, they may withdraw at any time. The procedure involves filling out this online survey that will take approximately 5 minutes. All information collected from this research will be keep
confidential. All data is stored in a password protected electronic format. The results of this study will be used for scholarly purposes only.
3.3 Data Collection and Sample Selection A. Sample
a. Sample Strategy:
Homogeneous sampling strategy of Purposive (Judgmental) Sampling will be adopted to select the samples who are particularly informative (Saunders et al., 2009), and focus on one particular sub-group to have a deeper study on, the criteria of the samples are as follow:
b. Sample Criteria:
Sample Size: Primary quantitative data collection method was utilized to collect 317 questionnaires through online survey to gain a deeper insight into China
entrepreneurial environment. In this research, 300 questionnaires will be selected and
analyzed by SPSS.
Geographical Areas: People live in China tier 1 cities (The most affluent cities China such as Beijing, Shanghai, Guangzhou, Shenzhen, Tianjin), and some of the tier 2 cities (Hangzhou, Nanjing, Chongqing, Chengdu, Wuhan, Fuzhou, Suzhou, and Xi’an) are the target sample of this survey, for the main entrepreneurs population and entrepreneurial infrastructures are keep gathering in these cities, hence, the demand of enterprise education is expected to increase continually.
Career Position: Although the initial concept of Venture World is to build up an enterprise education platform and online community for China university students, the sample will not be limited to China university students. People who work as an employee, retirees, the unemployed, high school students will also be included, as this research want to find out which segment of population has higher potential to start up.