Stretch the Mission Essay Example
4STRETCH THE MISSION
Stretch the Mission
Helena Should Agree to Opening Office in MIAMI
Business incubators are established to foster business development for the local economy. Unamano mission was to help entrepreneurs in the emerging markets serving as a connector recruiting business leaders to help new entrepreneurs. As a result, Unamano would increase the revenue of small businesses that would otherwise face challenges during start-up. However, Miami meet the primary criteria of an emerging market. Currently, the city unemployment rate has increased, widening the income inequality as well as the challenging environment for small businesses start-up (Sahlman & Ramana, 2015). In other words, Miami would require similar help as a city in emerging countries. Helena also noted that it was not easy for an aspiring entrepreneur to get a sizeable loan, particularly if you can from a low-class family. Miami is composed of approximately a million of Latin Americans who may not afford start-up capital of business.
Furthermore, Miami has a solid technology and infrastructure and many educated young graduates aged 25 to 44 years. These people face similar challenges and would benefit from local advisers, introduction to mentors, and attending conferences. The above data strongly suggest that opening an affiliate in Miami is a good idea and will enable the company to reach its target audience. However, before Unamano can prepare to execute in Miami, they should have discussions with the board members to weigh threats and opportunities of such ventures. I believe that going to Miami would not violate their core offering and take off Unamano from its path, but rather offer more opportunities to meet and attract more global mentors and entrepreneurs for their organization. It may also offer more fundraising opportunities, as well as ability to attract a more prominent profile for the organization. The mission of Unamano should not be restricted to national borders since Miami is still faced with start-up challenges faced by emerging market entrepreneurs.
Comment by Linda Rottenberg
I agree with Rottenberg that Miami too lacks scale-up support that enables entrepreneurs to start world-class firms. In the conversation between Helena and Conrad, Helana says that it was difficult for an entrepreneur to get a sizeable loan if you don’t come from a rich family (Sahlman & Ramana, 2015). In other words, Miami entrepreneur still faces similar challenges during start-ups. Moreover, opening an office in Miami would increase Unamano brand recognition attracting more global mentors and partners into the organizations. Helena agrees that Miami had local business leaders willing to contribute funds and Unamano had already been offered $3 million, which is one of the requirements of a Unamano affiliate region.
Therefore, it would be advisable for Helena to weigh both risks and rewards from Unamano stakeholders. Unamano innovation-based strategies may contribute to the achievement of social value in Miami. The organization focuses on differentiation, with innovation directed at changes in product and processes by nurturing world-changing start-ups. Although Unamano differentiation strategy is based on working within emerging markets, it shouldn’t be constrained within national borders because Miami has met the requirement of Unamano affiliate region. With the growing competition, Unamano should reposition its brand to consider the benefits of Miami expansion such as fundraising opportunities to meet their objectives.
Sahlman, W.A., & Ramana, N. (May 2015). Stretch the Mission? A Nonprofit That Supports Emerging-market Entrepreneurs Considers Expanding to the U.S. Harvard Business Review 93(5), 113–117.
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