![]() Importance of PESTEL Analysis in Strategy Management & Planning Process ![]() SWOT Analysis of Lumo Bodytech: A Bumpy Journey Related Areas : Firing, Hiring, Innovation, Leading teamsĬase Study Solution & Analysis of Lumo Bodytech: A Bumpy Journey Perkash saw it all.Ĭase Authors : George Foster, Amadeus Orleans Some of those were a superstar engineer who had a huge ego, a former classmate who wanted new responsibilities but was underperforming and a new hire who had come from a much larger company and was not prepared for the challenges of a startup environment. Finally, Perkash had also experienced a fair amount of human resources problems over the years. To make matters worse, there seemed to be a central misalignment between the cofounders and one of the board members about how to approach the issue. The challenges related to financing the company would knock on Perkash's door once again in mid-2014, when the company had to decide between raising venture debt or settling for a smaller round of equity financing. It was a hard decision to face so early in their trajectory, but Perkash knew she had to make a choice. That was when Perkash was approached by a large Asian manufacturer who would be willing to invest if the company implemented a significant change in its strategy, from focusing on a single product to adopting a platform approach to its product line. Around a year later, Lumo Bodytech had successfully launched but the wearables fever was dying down and the financial needs of the young start-up became more pressing by the day. Additionally, the equity for the new business had already been split among the four cofounders, which could further complicate any exit negotiations. He was an accomplished software engineer who had become a friend in just a few months of work. Even before the conclusion of the incubation phase, one of the cofounders had expressed his dissatisfaction with the direction of the ideation process and threatened to quit if nothing changed. As of 2018, Lumo Bodytech was still alive and thriving, but the journey had not been free of obstacles and difficult decisions for the CEO. The result was a start-up focused on improving posture and helping solve the common problem of back pain. At the time, she had barely met her cofounders and the team was expected to launch a business after six months of design thinking and prototyping efforts. Monisha Perkash cofounded Lumo Bodytech during an incubation program organized by Innovation Endeavors - the venture capital firm started by Eric Schmidt - in 2011. PESTEL analysis is mainly the assessment of macro environment factors.Ĭase Description of Lumo Bodytech: A Bumpy Journey Case Study The three inter-related environments are – industry environment in which the company operates in, the geographic market or country in which company operates, and wider socio economic / macro environment. Managers at Perkash Bodytech need to examine three inter-related environments in order to come up with an effective strategy. It is written by George Foster, Amadeus Orleans and shed light on critical areas in field of Innovation & Entrepreneurship, Firing, Hiring, Innovation, Leading teams that the protagonist in the case study is facing. Lumo Bodytech: A Bumpy Journey case study (referred as “Perkash Bodytech” for purpose of this article) is a Harvard Business School (HBR) case study covering topics such as Innovation & Entrepreneurship and strategic management. Lumo Bodytech: A Bumpy Journey case study PESTEL analysis includes macro environment factors that impact the overall business environment – Political, Economic, Social, Technological, Environmental, and Legal factors. We specialize at providing professional PESTEL analysis & other strategic management MBA resources. What is PESTEL / PEST / STEP Analysis? How you can use PESTEL Analysis for Lumo Bodytech: A Bumpy Journey Definition of PESTEL / PEST / STEP Analysis
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