Cloud entrepreneurship into the current market as well as

 

 

 

 

 

 

Cloud
computing as an example of High-Tech Entrepreneurship

 

 

 

 

Arunav Jain
Coventry University

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!


order now

 

Introduction to the
business idea

High-technology
entrepreneurs are into securing revenue and growth from industry sectors affected
by new and rapidly changing technology. These
days advance computing technology is being
utilized in so many aspects of business in different industries that it is
being classified as a subset of its own unique industry.. Today, industry saturation
of high tech businesses is pretty decent with these hi tech businesses
operating in varying industries such as oil extraction, food exporting and
others. This paper is mainly going to look into this idea of cloud computing and potentially providing
a private cloud service to the corporate sector of India and then beyond as one
of the high tech entrepreneurship ideas,
outlining the appropriate mechanisms that are needed in protecting the intellectual property of the high tech entrepreneurship, outline some of the resources
that are needed in bringing the concept of high tech entrepreneurship into the current market as well as abilities
needed in taking forward the idea of high tech entrepreneurship
as far as market trends is concerned. So what is cloud computing? Cloud
computing is the practice of using a network of remote
servers hosted on the Internet to store, manage, and process data, rather than
a local server or a personal computer. So what about a private cloud. A private
cloud is infrastructure operated solely for a single organization, whether
managed internally or by a third party, and hosted either internally or
externally. Private clouds can take advantage of cloud’s efficiencies, while
providing more control of resources and steering clear of multi-tenancy. (IBM,
N.D.)

 

Define and explore
the high-growth nature of the concept of cloud computing in entrepreneurship

The nature of growth in this industry is exponential if the
product is good enough but the % of market saturation is slowly and steadily
growing as we are yet to see consumers moving to a cloud based system in masses
such as towards Google’s chrome operating system that puts the importance
towards internet based applications rather than desktop/laptop based. Today more
and more devices come prepackaged with or offer downloadable access to services
that store the users’ data remotely. Giving employees the access to easily
collaborate on company tasks from the ease of their homes, projects  being updated in real time right from the
project site are just some benefits to cloud computing which enhances its
nature of growth as this ease of work will catch on.. Along with these pro
points (remote working and backup, instant information sharing etc), there are
also some cons (privacy, data retrieval upon machine failure, cyber security). But
future of computing is with a laptop that’s with the user no matter the location,
be it on a cruise or at workplace. Keep in mind that this industry came into
existence in the current decade an dis now a 300 billion dollar industry. That’s
the growth potential in terms of numbers.

Identify
appropriate mechanisms for protecting the intellectual property of the idea
giving reasons for your choice

The world of technology is a rapidly
changing world, changing at an exciting but unpredictable pace. As The Economist observed,
“the belief that technology and globalization promise unbounded prosperity
and render old economic rules redundant has infected corporate managers,
investors, and politicians with remarkable speed”. Information technology is altering the nature of the
world’s economic output, as well as the ways that companies operate. With all
these uncertainties in mind the appropriate mechanism mainly for protecting the
intellectual property of the idea is encryption and cyber security. Mainly with
this private cloud for corporations the encryption will make sure that only the
user sending and receiving the file can decrypt and open it. The advantage with
encryption is that it’s on a need to know basis. So for example if the file is
sent from one user to another only those two users have access to that file but
if its shared in a group all the group members have access to that file and not
anyone else in that firm regardless of his/her position. Also these security
measures layered into the cloud prevents breaches and theft as an audit trail
can be maintained by monitoring which users accessed what file and when. With
private cloud the protection of intellectual property is more secure than
server based operations as servers are easier to hack than cloud because of the
said encryption. Also a cyber-security firm can be hired to for cloud
maintenance and extra security

 

Explore the resources and finances needed to bring the concept to market

For
bringing the concept to market the macro strategy would be to not divide
finances too much, having a viable marketing strategy, getting an efficient
core employee team and the final vision for the company. The resources needing
at first will be substantial and will need bringing in big investors for the
setup. The setup will be requiring a physical space where there are at least
5000 computing machines. These 5000 computing machine will act as the computing
resource for cloud hosting as the virtual servers of cloud require a lot of
computing resource. The plan of action would be to setup this one location with
2 backup data centers as because if one fails the other is there because in
this business bad publicity is company killer, especially private cloud
service. Then after acquiring few medium sized firms, provide better than
market service and rates by using India as operation base because of cheap
costs involved with labour and set up. After an year expand and grab the most
of the small level and medium sized firms who are still on server based data
storage by educating them on the advantages of private cloud computing such as
better security, no trade secret leaking scenarios and also the ability of
monitoring and producing an audit trail. Then 5 years down the lane go after
the big corporations hoping market isn’t too overcrowded by then or else get
acquired by one of the big players in cloud market such as amazon, google or
Microsoft. For the above the initial setup cost would be around 1 million
pounds. But the devised marketing strategy is pretty inexpensive with use of
social media as advertising platform, for example by making weird funny videos
that attract viewers or have a tendency to go viral that also contain
information about the firm and what it offers. The cost of educating small business
about the need and advantages of my private cloud service won’t be much as I
would be travelling to business shows and business seminars to get the word of
mouth rolling. All in all the finances of 1-2 million dollar is needed for the
start with additional line of credit with investors if possible taking into
account the projected growth and putting all profits back into the company for
its continued growth the first 5years. The resources needed will also involve
resources like an executive recruiter to acquire a good core team of efficient
employees.

 

Assess your ability to take forward the idea and explore how knowledge
and skills gaps could be filled

Successful
innovation and its sustenance is a function of both creativity and teamwork. As teamwork is an integral cog in any successful
running business my first priority would be to recruit people of varying age
diversity, from people into their 40’s with experience to some young blood  such as fresh graduates too so as to create a
holistic diverse. I would also implement a proper recognition and reward
strategy for employees to motivate them and get good output from them. I myself
not having experience in recruitment is a knowledge gap which would be filed by
be consulting my father (who is a successful entrepreneur running an
environment consultancy) who has more than 30 years of corporate experience and
also hire an executive recruiter to help along in this process. The next step
to take forward this idea for expansion would be to get investors for which I
would be going to venture capitalists. To get in the door with venture
capitalists I would be taking advantage of networking with people as one of my
family friend’s dad is the CEO of a major venture capitalist firm. The
complexities of finance side of the business might be a skill gap for me which
I would be filling by enrolling into different short term courses and gaining
knowledge from those courses and daily business activities. An entrepreneur to
me is someone who is always learning and so there will always be a skill gap
which would always be filled according to requirement. A strong leader is
someone who doesn’t shy away from delegating but encourages it.

Next step would be
marketing. This is one area where I have a lot of ideas but my own knowledge
and skills may not make a viable personalized marketing strategy for the
company as I might be overestimating my skills. Nowadays “Brand” really plays
an important part of customer acquisition and retention and the image of the
company i.e. how it is perceived by the general masses makes a lot of
difference. Therefore the way to target the specific demographic is better left
to marketing professionals. So I would be hiring a creative talented small
marketing team for making the kind of material such as videos and ad campaigns
for the company and advising on which platforms and portals to use for
displaying the said material but I would also be using many of my implementation
ideas such as YouTube videos etc. Also to get the best out of the product I
would give a lot of importance to customer feedback and make many different
platforms to hear their opinions. This way there is a direct bond between
customer and firm and the firm can give the client exactly what he needs by
paying heed to his demands.     Entrepreneurship
is not all about personal financial gain. It’s also about making the life of
people around you better, impacting society in a positive manner. India for now
is a country far behind the digital advancements and adoption of digital
technology compared to its western counterparts but catching up at an
increasing rate with the potential of a billion plus consumers, adoption of
digital technology at a rapid rate is essential for its growth in this
techno-centric world. But for the general masses who run most of small level
and medium level businesses, access to these services and education about this
service is necessary and this demographic being our target market makes our
company objective both socially and financially viable and accepted.

One other thing is
that Entrepreneurs
expand existing markets by identifying niches, thereby increasing competition
and economic efficiency. Our niche is the access to cloud computing service to
the small time business owners in Indian market and abroad mainly. This is due
to the fact small level business owners do not want to pay huge annual fees to
major companies like google and on the other hand like doing business with
smaller companies where they get personalized service and low costs with
flexible plans (which I plan on offering). Also this would remain a niche as a
big player such a google or amazon would not like to invest for acquiring small
business as the return towards their small level businesses customer
acquisition cost would not be attractive to them. Another aspect of high tech
businesses is continued R to improve their product and innovate to create
“disruptive” technologies that can change the market and makes hi tech
entrepreneurship high risk high reward due to its potential. This research and
development aspect is comparatively less in this cloud computing business due
to this being a platform that might only get perfected and not change for at
least a decade to come which gives our proposed firm enough time to become a
big market player by then advancing rapidly by taking advantage of the potential
of the growing Indian tech based market.

All in all the skill gaps and knowledge gaps are being
filled by a mixture of things such as exposure, learning courses, delegation
and continued experience and nurturing by an established entrepreneur(such as
my father)

 

Summary and recommendations:

Hi-tech
entrepreneurship is basically business leadership centering around finding
technology intensive business opportunities which are generally high risk high reward,
managing exponential growth of the business by making instant on the go
decisions. A good business opportunity is one which is technically feasible, a
proven business model, has strong intellectual property, a sustainable competitive
edge and potentially a huge market to grab. Our private cloud computing service
checks all those areas. This new cloud computing service is mainly for small
and medium businesses of India at first and then a step by step accession to
come next. Also this business model can benefit from having a freemium and
premium model where certain features are advertisement free at an upgraded cost
with more storage options in terms of quantity and on the other hand the freemium
model can be used to acquire initial customers with the advertising revenue
making up for the free storage space given to new customers for a limited time
period of time.

 

 

References List

Filatotchev, I., Liu, X., Buck, T.
and Wright, M., 2016. The export orientation and export performance of
high-technology SMEs in emerging markets: The effects of knowledge transfer by
returnee entrepreneurs. Journal of International Business Studies, 40(6),
pp.1005-1021.

Freear, J. and Wetzel, W.E., 2014.
Who bankrolls high-tech entrepreneurs?. Journal of Business Venturing, 5(2),
pp.77-89.

Lerner, J., 2012. When bureaucrats
meet entrepreneurs: the design of effectivepublic venture
capital’programmes. The Economic Journal, 112(477).

Miner, J.B., 2015. Entrepreneurs,
high growth entrepreneurs, and managers: Contrasting and overlapping
motivational patterns. Journal of business venturing, 5(4),
pp.221-234.

Samsom, K.J. and Gurdon, M.A., 2015.
University scientists as entrepreneurs: a special case of technology transfer
and high-tech venturing. Technovation, 13(2), pp.63-71.

IBM (N.D) “What is cloud computing?” online available from,

x

Hi!
I'm Kara!

Would you like to get a custom essay? How about receiving a customized one?

Check it out