The theme is to question the common assumption that a business idea is either good or bad. We expect to challenge participants’ ability to turn a seemingly ridiculous and impossible idea into a cash cow by viewing the idea from different angles.
Participants are required to write a thorough business plan to sell a product/service in its most unconventional market, i.e. to turn an idea that sounds bad into a successful venture. Examples are, but not limited to, the following:
- Selling durian products to people who do not eat durian
- Selling cosmetics to men
- Selling tap water (by means other than water supply)
- Selling ties to women
Suppose participants are the General Manager of an international corporation. As the GM, participants need to consider how to launch their business in the new market without compromising their global brand recognition. Participants should consider the challenges, obstacles and solutions. They should also evaluate the pros and cons of all of the strategic decisions and conclude with an executive summary to the Board of Directors.
The company that the participants are working for is an established multi-national corporation with a long history bearing a household brand. It has a healthy cash flow and strong cash reserve, and is capable of making aggressive investments. The company has its headquarters in Hong Kong. The product/service is the major source of income of the company. The company’s traditional market has already saturated with no significant room for growth, and that the company is looking for chances to expand into unexplored segments.