The Selection of an Appropriate Business Model for Bespoken Spirits' Management Team
Please prepare a report (500-1000 words) on the case assigned for the Case Competition this semester by addressing the following:
- Identify the main problem that needs to be addressed by the management team. Make use of relevant theoretical concepts from the course in defining the problem.
- Recommend a strategy that best addresses the problem. Use an outline form and specify strategic objectives followed by relevant tactics.
(Note that your recommended strategy may include changes in corporate, business, and functional strategies as deemed necessary)
- Discuss the reasons why you believe your recommended strategy will solve the problem identified. Make use of relevant theoretical concepts from the course to support of your position.
- Describe any ethical issues that are addressed in this case. How could this impact strategy chosen?
As you prepare your write up, please visit Mason’s library (online or on campus) and identify at least three reference sources that would be helpful for examining the main problem and its likely solution.
Important reminders: 1) This is an individual-level assignment. 2) Everyone in the group must complete and upload the individual-level Case Competition report before the group starts working on the group-level, in-class Case Competition presentation. 3) Failure to turn in a satisfactory individual-level Case Competition report will result in getting a score of zero for the group-level, in-class Case Competition presentation for the individual concerned. 4) The report should not exceed 1000 words.
Individual-Level Case Competition Report
Name
Institution
Due Date
Individual-Level Case Competition Report
Main Problem
The problem the management team at Bespoken Spirits has to deal with entails the selection of an appropriate business model. As per the case study, two business models appear probable for Bespoken Spirits. The first one is the Maturation-as-a-Service (MaaS) and the second one is the Customization-as-a-Service (CaaS). MaaS mainly entails working with breweries, rectifiers, and distilleries. Business here would entail helping companies within these specifications to either produce whiskey products fast or enhance some of their young products. This option is a bit safe because it does not task Bespoken Spirits with the heavy lifting involved in marketing and selling any products. On the other hand, CaaS entails working with direct customers who buy Bespoken Spirits products. With this business model, Bespoken Spirits would have to produce its own brands of whiskey and sell to customers. The customers, in this case, would entail other small businesses, for example, restaurants, luxury hotels, grocery chains, and bars and nightclubs. With this model, Bespoken Spirits would incur the cost of production, distribution, and marketing of their products. However, regardless of the cost involved here, Bespoken Spirits would be making a name for itself. Depending on its differentiation strategies, the company does stand a chance of making a name for itself.
Strategy to Address the Problem
The strategy to address the problem above must consider the prevailing market conditions. For example, how is the whiskey industry relative to other alcoholic beverages? What are the projections for the next ten years for the whiskey industry? For Bespoken Spirits, the strategy that appears to fit with the founders’ vision, Aaron and Janousek, entails developing the most innovative product. This strategy would mean that the founders would have to select the CaaS model if they are to attain their goal of a $100 million valuation. Bespoken Spirits would have to develop their products, incur marketing expenses, and be in competition with other whiskey companies. The strategic objectives that ought to spearhead Bespoken Spirits’ strategy of innovation entail the following:
* Developing a line of unique products
Bespoken Spirits should develop and release a range of unique products using their technology. These should make up its catalog.
* Identify a unique set of the target market.
Market research should inform the target market. There...