ZIP CAR

Zip Car

Zip Car

Answer # 1 Entrepreneur can be defined a person who identifies an opportunity, and organizes the necessary resources that needs for implementing that opportunity to business. This results in the creation of new organizations or may be part of revitalizing mature organizations in response to potential opportunities. Entrepreneurship includes the planning and starting up of a business, taking advantage of the business opportunities, assuming the threats, and bringing some innovation to the industry. Entrepreneurship increases the creativity, interaction, and contrast between competition and artistic objectives that provide interesting point for an innovative product. The entrepreneur introduces new products or services, brings new ways and ideas of launching their goods or services, brings new resource, discovers new supplying sources of raw materials, and reorganizes the structure of the industry. Zip car provide those cars which reduced carbon emissions, reduced the number of vehicles on roads or facilitated the repayment of installments. The most important role play by entrepreneurship is introducing different ways of utilizing the resources in the best form. It commercializes and discovers new combination that brings something new for the industry/market. In the creative industry, the entrepreneurs come up with numerous ideas to present things in an innovative manner and bring inventive techniques. The most important benefit for users is that it provides a cheap cost and flexibility to drive a car. If one considers the cost of acquisition, maintenance, combustible, parking and other. To be a successful business in the market the identification of the need or opportunity is vital. The entrepreneur should identify that need opportunity exists in the market that nobody recognizes it. In 1999, zip car formed by Robin Chase a graduate from Massachusetts Institute of Technology, and her friend Antje Danielson, a geochemist at Harvard who worked on the reduction of CO 2. The CEO of zip car robin chase and her friend identified the need opportunity presented in the market. After identifying the need presented in the market, she did market research and made a business plan. In that research, she analyzed their competitors, their target market, collaborators etc. She identified the need in the market when analyzed the environmental, economic, and social issues presented in the market. Chase researched that over 66 million American populations used public transport for going to their work stations, and for that, they required some vehicle to travel by. These were the figures for only the metropolitan areas of US. They all could not afford private cars, and if the low price cars introduced then that resulted in traffic congestion. The service costs are $ 50 annual membership and between $ 8 to $ 15 dollars per hour of its use. That includes fuel and insurance costs.They considered the most important environment concern i.e. protecting green environment. They came up with an idea of car sharing to reduce carbon emissions, reduced the number of vehicles on roads or facilitated the repayment of installments. That business would also satisfy the socio economic needs of people, those who were status conscience but could not afford to buy their own car. For the urban locations, it was the best business as the parking was expensive. After analyzing these facts and figures, the founders of zip cars decided to start the business of car sharing. They analyzed their competitors and researched for the vacant market where they could commence their business. They found out that in Europe, there were some companies catering the market with rental cars, but in US, demand for car sharing presented, and there was not such business. With the collaborative efforts of her friend, she identified opportunity existed in the market. She made the business plan of the new venture, created ...