business plans case study and need the explanation and answer to help me learn.
Read the story, do a little online research about the company, and then answer the questions that follow.When Marc Cenedella started Ladders in 2003, the Lean Startup movement had yet to take hold (that happened in 2011). Ladders was founded to close the gap in online recruiting and employment seeking at the high end of salary scale. Advanced for online services at the time, their product development process involved:1. Defining a problem;2. Reducing that problem to its source so that they were solving the real problem, not a symptom;3. Talking, drawing, and prototyping to quickly get the proposed solution in front of customers; and4. Getting feedback from customers, which they used to iterate the process again.When developing a new app, they always started with a hypothesis, the constraints under which they would need to work (e.g., the new app must integrate seamlessly into a recruiter’s website), and some basic design principles. They sketched out, in detail, a hypothetical user or “proto-persona” based on years of experience with customer outreach, and they then mentally put themselves inside that person to try to view their app from the customer’s perspective (in this case, the recruiter). They also reflected on the advantages and disadvantages of the iPhone platform and how it affected the user experience (UX).With a well-developed hypothesis in place and a sketch of a solution, they would then head out to test the hypothesis with customers. In one case, they found out, to their chagrin, that recruiters didn’t have the problem they had originally hypothesized. That resulted in more conversations about the problem before they could ultimately return to the drawing board to rethink their solution. Of course, they also had to consider the users, those looking for jobs. That required understanding a different problem. This early-stage testing before investment in an actual product is key to saving both time and money. Testing early and often is the hallmark of lean software companies, but it also holds true, in some form, for all types of new product development.Steve Dalton, program director for Daytime Career Services at Duke University’s Fuqua School of Business asserts that “for every one person hired through an online job application program, 12 are hired by an internal referral¦” That finding doesn’t bode well for Ladders, which in 2012 conducted a study where it used eye-scanning software to record how long recruiters spent reviewing a resume. Six seconds was the average amount of time and what recruiters mostly looked at were job titles and where the person had gone to school and worked, which is problematic for most candidates whose resumes don’t show the standard career path. Reviews.com did an exhaustive study of job sites and rated Glassdoor, Indeed, and LinkedIn as the best job sites. The study found that Glassdoor had at least 30 percent more new posts per day than any of its competitors.Source: The Best Job Sites, https://www.reviews.com/job-sites/, April 1, 2017.Question(s):1) Ladders is a company that appears to have done everything right, but still can’t ascend into the group of top job-posting sites. Describe two things that Ladders did right when they developed their product.2) Based on what you read and the research you did on the company, what does Ladders currently need to do to become one of the top job-posting sites?REMEMBER: 800 word APA style paper.
Requirements: 850 words
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