this presentation is related with parent monitoring on their babies while they are out of their houses, or at work, The selected organization give many benefits to parents w.r.t. monitoring, protection and others.
ParentWatch Providing Comfort to Working Parentswww.parentwatch.com
Boom on EconomyTwo-Income Households…Problem Arise!!!! ?
I’m not FUSSY!!!To check their FUSSY CHILDWhen they leave them atchildcare centers that aretaking $25 a month..
• Parentwatch was founded by Adam Aronson in 1988• Not a father himself• Had been a trader at credit Suisse first Boston & money manager at AC Capital Management in Greenwich, Connecticut Adam• Headquarter in New York City identify OPPORTUNITY!!!• Adam’s friends talking about their child & they would readily pay for a monitoring device that allow them to see their children
• For parents worrying about their child, watch their child through internet and webcam• Make small video cameras• It is a community site• Free to child care centre as are cameras, internet access & customized website.• Tailored to each centre, used to post announcements, upcoming events, lunch menus & other items
• Main source of revenue is subscription fee, discounts are available• Not pioneer but early entrant, now stronger industry participant.• In beginning it is difficult to get day care centers to sign on• Privacy & security concern & parents interruption• Call ParentWatch a “keeping families connected tool” rather “watch your kid”
• US, Taiwan, Venezuela, Russia by Military Personnel Overseas• Every classroom has 2 webcams• No webcam in Private Rooms (Washrooms, Bathrooms, Changing rooms)• Provide live streaming to parents• Successful because it helps parents to connect their children & give them a sense of security• It receives 10 million in venture capital in 2000 from Oak street investment• 100,000 childcare centers having this feature of webcam service
Benefits Increase Enrollment Number of Childcare centers Cost Saving Defer Costs Insurance Premium Saving By live checking Enhanced Parental Trust Participating Center is open and transparent, Live watch
With ParentWatch everyoneWins– the company, the parents, the investors, and the day care centers
Question 1 What environmental trends contribute to creating theopportunity for Parentwatch? Which trend do you believe was most significant? Why? Answer The most significant trends that contributes in creating the opportunity of Parentwatch is Economic & Social trend. Because the two-income households have no time to keep an eye on their children. So Adam Aronson helps the parent by introducing the Parentwatch. (Page #. 32)
Question 2 In the chapter, an opportunity is defined as having the qualities of being (1) attractive, (2) durable, (3) timely, and (4) anchored in a product or service that creates value for its buyer or end consumer. To what extent does Parentwatch meet of these tests of an opportunity? Rank the extent to which Parentwatch meets the tests as excellent, good, fair and poor. Opportunity Tests Reason RankParentwatch Attractive A new invention in Excellent childcareParentwatch Durable Anytime live check Excellent of parents on childParentwatch Timely, A need of two- Excellent income households (Boom on Economy)Parentwatch Value for its buyer Create trust & Good Confidence
Question 3Does Adam Aronson seem like a likely founder or an unlikely founder of for acompany like Parentwatch? What personal characteristics does Mr. Aronson have that most likely assisted him in recognizing the opportunity for Parentwatch? Answer By means of profession Mr. Adam Aronson was trader and money manager. He does not have any concern with childcare. He was not father of any child. He unlikely heard by his friends about parents problem and recognizes an opportunity. By means of personal characteristics Mr. Adam Aronson have following characteristics. Opportunity recognition Social Relationships Creativity
Question 4Can you think of any other ways that technology could help link children to their parents when they are physically apart? Answer No!There is not any way that technology could helpthe parent to keep an eye when they are physicallyapart from their children.