Steven B. Belkin Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Steven B. Belkin

Opportunity Evaluation

From the initial phase of his life, Steven B. Belkin wanted to see himself as a successful entrepreneur. He was a firm believer of innovation and creativity and used to search for new opportunities so as to establish himself as an entrepreneur. One of the issues he faced after quitting the job was to find the right investor for his company, named The Travel Group. Steven found the key attractions and business opportunities with regards to the professional tour management, lower cost and comfort level of the sponsoring organization. Being a resident of United States, Steven felt that there were great opportunities because of rules and regulations that actually support the industry. Steven’s wanted to implement the same successful strategy that might prove to be successful for his previous employer “Group Touring Associates”.

Implementation Strategy

One of the goals that Steven need to accomplish was that he needed to make more money in the short span of time and within limited resources. The objective of the Travel Group was to find the right investor in order to expand the business. Obtaining and finding investor for new venture was very a difficult job for Steven because of the time restriction. There was strong competition in the touring industry of the United States as there were ten huge groups of competitors. It was difficult for Steven to convince investors due to immense amount of completion in the industry. Steven had references of five well known institutional venture capital companies.

Management

Steven and Alan were capable to manage and organize the business deals. But sometimes they found it difficult to attract the investors due to lack of experience professionals in the team. They searched talented individuals who can actually attract the investors in order to support the financing activities. Therefore, they hired a secretary who worked with them at Group Travelling Associates and played a role in operating Steven’s department. Steven hired the dedicated sales force team to further expand the business through direct sales. Sales professionals’ responsibility was to make 18,000 passengers travel each year. This proved to be a very effective strategy of Steven and Alan in the long term perspective. .......................

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