ANDREA KANEB
INTRODUCTION
Andrea had a hearing impairment, and he had used hearing aids for thirty years. In all these thirty years, according to her, the kind of devices she had used to aid her hearing was too expensive, and at the same time, their performance was low. The products were not adequately designed and developed to address the need of the consumers. In 2015, Kaneb and her colleagues completed a specific project that paved the way for the establishment of a new opportunity. They came up with a business plan which they later on submitted to a team of investors. Kaneb’s idea was on the development of a hearing system that had adequately been researched and could give maximum satisfaction to its users, unlike those of the competitors (Unmehopa et al. 2006).
If you were Kaneb, would you have concluded, based on the data accumulated and analyzed, that you should abandon this potential opportunity?
The idea of coming up with this great opportunity was based on the art of helping others. The purpose of assisting others to drove Kaneb; he always took a forefront when it came to helping others. Thus, she and her colleagues decided to come up with an alternative hearing system that could meet the actual needs of the persons with hearing problems. There was a significant disruption that was taking place in the hearing industry (Unmehopa et al. 2006). Persons with hearing impairment wanted less expensive devices whose performance is high. There was no doubt that Kaneb and her team had developed a system that could meet these needs.
The manufactures in the hearing industry were not responding to the actual needs of the consumers. The consumers needed high performing hearing systems at low prices, but instead, the manufacturers responded by constructing and opening more shops, and by increasing their online presence. This was not quite the expectation of the consumers. However, Kaneb and her team came in to provide quality devices at cheaper costs because helping others was her calling. Kaneb should, therefore, not abandon this potential opportunity because of the data that has been accumulated and evaluated. She should soldier on and ensure that the persons with hearing impairment get the quality hearing systems that they need to live their lives comfortably without necessarily spending a fortune on it.
The majority of the products that the opponents produced had a limitation on the capabilities of the microphones. The devices were not efficient, especially when it came to communication in noisy environments. The tools could attract unnecessary attention. The prices of the machines were pretty abnormal. Some devices had to be passed through audiologists before they could reach the final consumers (Unmehopa et al. 2006). This made the process of acquiring the hearing systems difficult and even more expensive in the long run. Kaneb’s product was cheap, and the performance was the way that of the competitors.
Or would you decide to persist, and if so, what would you do to address the critical issues identified through your analysis?
If I were Kaneb, I would persist with the idea despite the issues that are arising. One of the problems that are very clear in the analysis is that Kaneb was not very good at socializing. She, therefore, had no connections. The connection is an essential aspect of entrepreneurship. Entrepreneurship is a journey that is meant for healthy and connected persons. To address this issue, Kaneb could try and engage in socializing activities (Braddock et al. 2015). For a startup, entrepreneurs with no connections may find it very difficult to set up their businesses. The best solution is to include the team persons that are people smart.
The other issue was the inability of the Parlay to aid in people hearing each other in noisy environments. Kaneb’s team was to come up with a model and technology that would make this possible because competitors had not even thought of it, and her idea was to help the person with hearing challenges to living a comfortable life. The parlay system would also need to be designed in a manner that would eliminate the discrimination associated with the usage of hearing aids. Persons with hearing aids incurred some stigma that was uncalled for.
The other very important issue was on the aspect of pricing, and the competitors had their products priced so highly. The parlay system would be priced at a lower price as compared to the other competitors, and the performance should equally outdo that of the competitors. The idea of starting and venturing into this opportunity was to help the persons with hearing problems, and therefore, it should extend to high performance and low prices. The device should also be user friendly.
PESTEL Analysis
The political environment is entirely silent. The consumers are complaining about the high prices that are imposed on them on the hearing aids, but the government does not intervene at all. The economic state of the citizens is worrying; persons with hearing impairment have encountered challenges of purchasing hearing aids; this could be an indication that the economy is not so good. There is a culture that is portrayed whereby there are some discrimination and stigma on hearing aids. The persons using these devices are equally stigmatized. The parlay technological advancement is likely to turn things around. The technology outperforms all the competitors, and its performance is incredible. The parlay hearing system does not have any serious negative impact on the environment.
SWOT Analysis
The primary strength of the parlay system is that it has an efficient system that outdoes that of the competitors, thus they can fully maximize on this to increase their customer base. However, the parlay system has a weakness that may affect it adversely. The parlay system is among other hearing devices that are discriminated upon. This discrimination is likely to affect the sales of the products. However, even with the stigma, the parlay system has an opportunity to increase its customer base, if the company can provide high-quality products at a lower price, then the company is likely to make significant returns. The primary threat that the company will incur is the stiff competition from the competitors.
REFERENCES
- Braddock, B. A., Grether, S. M., & Hilton, J. (2015). Digging into Prelinguistic Communication in ASD: How do we best parlay nonverbal communication into language development in children on the spectrum? A panel of three SLP experts answered members’ most pressing questions in a recent ASHA Web chat. The Leader listened in.
- Unmehopa, M., Vemuri, K., & Bennett, A. (2006). Parlay/OSA: from standards to reality. John Wiley & Sons.