Social Networking -- A Strategic Heaven or Entrepreneurial Hell: A Case of Plancast.com

Sharmam, Nidhi Vishnoi; Khattri, Varsha
September 2013
Effective Executive;Sep2013, Vol. 16 Issue 3, p60
In spite of the best efforts by Mark Hendrickson and his team of enthusiastic professionals, their venture--plancast.com--did not survive the rough rides in lucrative social networking domain. They had everything going for them--a working concept, adequate finance, booming market and robust technology. The early adopters took to the service lovingly too. Yet, something went amiss and unfortunately a great idea died in its infancy. This paper aims at studying and exploring the reasons for the same. It traces the journey of this venture right from its impressive beginning to its steady downfall. It talks about the competitive scope and environmental aspects of social networking as a profitable business proposition. It highlights the importance of right direction and strategy even when the markets are extremely growth-savvy.


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