7-1 page, product page, and checkout. In 2013 they

 

 

 

 

7-1
Short Paper: Intrapreneurial Opportunity

MBA 515: Business Environment, Innovation and Entrepreneurship

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By

Crystal
Newell

Southern
New Hampshire University

 

 

 

 

 

 

 

 

           

 

Introduction

Founded
in 2012, Wantable is a subscription box company that provides a selection of
fashionable and fitness clothing for men and women. Starting with three employees,
the company has since grown to over 100 team members to date. From the start,
Wantable’s goal was to create a unique retail experience. With their “One Size
Fits No One” motto, their mission is providing a lifestyle service people on
the go, with amazing fashion and fitness products tailored to their taste,
needs and wants conveniently delivered to their doorstep. Looking at how
Wantable has evolved over the years, will allow one to look into the
opportunities in the future for the company. (Wantable, 2017)

Overview

 

            A subscription box is a method to
distributing products on a recurring delivery schedule. Subscription boxes are
used by ecommerce businesses that follow a subscription business model. The
trend of subscription boxes started in 2010 with Birchbox. Birchbox is a
monthly subscription of beauty and cosmetics samples. 2012 was a big year for
subscription box company with new companies launching weekly. (Cadman, 2016)

            With the every changing demands of
the world, intrapreneurship allows companies to adapt to those changes and
remain competitive. Factors that are within
intrapreneurship include innovation, growth, employee engagement, leadership
and change. Nandan defines intrapreneurship as “person within a large corporation who takes direct responsibility
for turning an idea into a profitable finished product through assertive
risk-taking and innovation” (Nandan, 2009).

Intrapreneurial
Opportunities

            Innovation for Wantable has expanded over the years since their
2012 launch. In their beginnings, Wantable started as a mobile only company
that offered one product category. Their original website consisted of three
pages that included a home page, product page, and checkout. In 2013 they added
feature pages that allowed customers to refer friends and a gifting option. One
of their biggest innovations would be their personal quiz. This quiz allows
customers to answer questions regarding their needs, wants, and style. After
feedback from customers, Wantable built a more customized experience with
shifted their business model, which allowed for customers to have a more
personalized experience. This shift allowed the company to expand their
categories and the products that they offer. (Wantable, 2015)

Intrapreneurial
Assessment

            With so much success over the last
five years, Wantable has a lot to proud of. But with as any company, there is
always room for growth. Haircare were the plans for the new product category
for Wantable. After research and feedback from customers, Wantable knew what
they wanted this new product line to look like, however, the launch of the
haircare product line was halted. According to Wantable’s president and chief
executive officer Jeff Getz “we decided to pull the plug on the idea after
realizing the company couldn’t deliver on what customers wanted. Wantable’s
main focus is on meeting and exceeding customer expectations. For many months
afterwards, a lot of people thought that decision was a mistake, it was not a
mistake because we launched our largest category, which is women’s fitness,
instead.” (Thomas, 2017)

            With the new fitness product line,
Wantable was able to expand their offering to men. With the Style Edit
catergory, apparel is only offered for women. With the launch of the new
Fitness Edit, the company are able to market to a new audience and customer
base. With the addition of the fitness apparel and adding a men’s category,
this sets up an opportunity for Wantable to expand their men’s apparel line to
Style Edit and have fashion apparel as an option as well.

Conclusion

            Being in the subscription box
market, Wantable is always seeking that competitive advantage. While many
companies have entered this market, Wantable has been a startup company that
has grown the fastest. Constantly developing the structure of the company, has
allowed them to remain competitive. If Wantable remains focus and continues
adjusting as the market demands and continue keeping the customers first, will
help the company survive in the industry as new competitors enter.

 

 

 

 

 

 

 

 

 

 

 

References

Cadman, L. (2016). Monthly subscriptions boxes – everything
you need to know. Retrieved January 14, 2018 from http://www.mysubscriptionaddiction.com/monthly-subscription-boxes

Nandan,
R. (2009). Unleashing Your Entrepreneurial Potential. New Delhi:
Sage Publications      Pvt. Ltd.

Thomas, A. (2017). Wantable prepares for its next growth
spurt. Retrieved January 14, 2018 from https://www.biztimes.com/2017/industries/retail/wantable-prepares-for-its-next-growth-spurt/

Wantable (2017). About us. Retrieved January 14, 2018 from https://www.wantable.com/about/

Wantable (2015). Wantable turns three. Retrieved January 15,
2018 from http://blog.wantable.com/2015/08/19/wantable-turns-three/