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企业家个案研究与个人分析 Entrepreneur Case Study& personal analysis

时间:2018-06-07 08:44来源:www.ukassignment.org 作者:cinq 点击:
Part A
Entrepreneurial personality refers entrepreneurs’ personal traits, capacities and competence shown in entrepreneurial process, an entrepreneur's personal traits include psychological quality, behavioral habits, personality preferences, value orientation, personal achievement motivation and so on (Mazzarol and Volery, 1999; Shane, 2003). Entrepreneurial capacity personality is the ability that entrepreneurs use to solve a variety of complex problems encountered in entrepreneurial process and the process of corporate development. Entrepreneurial capacity personality to a certain extent determines the success or failure of entrepreneurial enterprises, it includes opportunity identifying, integrating resources, risk decision-making capabilities, strategic management capabilities, innovation and entrepreneurial network building capabilities (Karabulut, 2016; Viinikainen et al., 2017; Cui et al., 2016). Cui et al. (2016), Teece (2016), Gedik, Miman and Kesici (2015), Paul and Shrivatava (2016) studied and found that entrepreneurs of different stages have common capacities, such as the ability to take risks, successful entrepreneurs are adventurous and not afraid of failure (Cui et al., 2016; Paul and Shrivatava, 2016); in a particular area, they can combined a strong professional knowledge with scientific management knowledge (Cui et al., 2016; Teece, 2016); innovative ability, according to Schumpeter's theory of innovation, innovation refers an entrepreneur's new combination of production factors, it is creative destruction, innovation is the essence of entrepreneurs ((Cui et al., 2016; Teece, 2016; Gedik, Miman and Kesici, 2015); a strategic vision, excellent entrepreneurs often have a strategic vision that ordinary people do not have, they can summarize the essence of things from the complicated economic phenomena to grasp the laws of economic activities to form their own management philosophy, ideals, beliefs and leadership style (Cui et al., 2016; Paul and Shrivatava, 2016; Gedik, Miman and Kesici 2015); good interpersonal communication skills, good interpersonal relationships are important factors for entrepreneurs’ success, especially when governments and officials are free to intervene in economic affairs and play a pivotal role in the overall economy. The relationship with government and officials is a key variable in determining success (Teece, 2016; Paul and Shrivatava, 2016; Gedik, Miman and Kesici 2015).
Like life stage, enterprises also have a process from birth to collapse. Entrepreneurs undertaking business will also experience such a process. Holt (1992) argues that entrepreneurial process goes through four stages: the pre-start-up stage, the start -up stage, the early growth stage, and the late growth stage, and he pointed out the different stages of the activities of the content and focus. In the pre- start -up stage, entrepreneurs should do a good job in the business plan and pre-work, including raising funds and creating a business; the start-up stage, entrepreneurs needs to confirm the market positioning of an enterprise and make appropriate adjustments to ensure the survival of the new business; in the early growth stage, entrepreneurs must cope with the challenges brought by changes in terms of market, capital and resource use; in the late growth stage, entrepreneurs should build a professional management system to improve the effectiveness and efficiency of new business activities (Holt, 1992). Davila and Foster (2009) divided an enterprise's life stage into the following four stages: in the first stage, entrepreneurs can be keen to find market opportunities, they assess prospects and risk, taking concrete practical action to grasp this opportunity. In the second stage, they design business plans and prepare human and financial resources for enterprise development. In the third stage, they identify and operate a business model that can continue to profit and have an access to market and consumer recognition. In the fourth stage, they develop long-term business development strategy to improve the management of enterprises to achieve the expansion of enterprises, then the enterprises will be acquired by other large enterprises or listed.
Timmons (1999) argued that as time and space changes, because of ambiguities of opportunities, market uncertainties, capital market risks, and the impact of external environments on entrepreneurial activity, entrepreneurial processes are fraught with risks and uncertainties. At this point, entrepreneurs need to show different competences and capabilities at different stages to help businesses to resist risk. In the preparation period, an entrepreneur's responsibility is mainly to identify entrepreneurial opportunities, once they find good business opportunities, they will begin to create a new business, at this stage, entrepreneurs need to have opportunity identifying ability (Cui et al., 2016; Paul and Shrivatava, 2016). In the start-up period, the main problem faced by entrepreneurs is to integrate resources to meet the needs of new business growth, at this stage, there is the need for entrepreneurs to have the ability to integrate resources, innovation and entrepreneurial network construction capabilities (Teece, 2016; Gedik, Miman and Kesici, 2015). In the growth period, entrepreneurs will be faced with more challenges and uncertainties, and due to constraints by their own ability of entrepreneurs, in order to better develop enterprises, they put more energy into building up entrepreneurial team. At this stage, entrepreneurs need to have risk decision-making ability, strategic management and financial management capabilities, communication skills and so on (Cui, 2016; Teece, 2016; Gedik, Miman and Kesici, 2015).
Jo Malone is a well-known perfume business entrepreneur, in the entrepreneurial preparation period, she was keen to find the perfume ingredients in the market were very complex, and consumers have more favor for simple natural perfume, so she first introduced a modulation of a meat cardamom and ginger flower flavor of bath oil and perfume to customers, it became popular, since she began to start a business. At the beginning of the business, Jo Malone took advantage of her social resources to make the owner of Bergdorf Goodman, a high-end department store in New York recognize the value of Jo Malone perfume, Jo Malone perfume then could be sold in this top luxury store. Taking this opportunity, Jo Malone perfume became one of the favorite perfume for celebrities, Jo Malone business achieved the initial success. In the growth phase of the enterprise, Jo Malone was through further enhancing its product lines, shaping high-end brand image, marketing and other strategic decisions to improve the influence of Jo Malone in the UK and the United States, and it successfully made world-class company Estee Lauder acquired Jo Malone's majority of the shares, and with Estee Lauder's brand influence and channel, influence of Jo Malone perfume was extended to the world. Jo Malone's success is closely related to Jo Malone's entrepreneurial personality, his different capabilities demonstrated at different stages of the business helped the company to solve problems encountered at different stages and ultimately gain access to the world's consumers’ and large enterprises’ recognition.
Part B
Jo Malone has the entrepreneurial personality that Mazzarol and Volery (1999), Shane (2003) believed that an entrepreneur should have, the entrepreneurial personality are mainly in three aspects. First of all, she has a more persistent personality, she encountered many difficulties in the business process, but she did not lose heart, she still concentrated on her own business and eventually succeeded (Malone, 2016). Then, she was very diligent, when she was 10 years old, she worked in the flower shop during the day, at night she provided facial skin care service for customers, which accumulated enough experience for her future success (Malone, 2016). Finally, she was very happy to learn, she did not have accept professional training about perfume, she completely depended on her own experience, talent and spirit of being good at learning to modulate high-end, elegant perfume, which was rather difficult for her (Malone, 2016).
Jo Malone has the capacities that Karabulut (2016), Viinikainen et al. (2017), Cui et al. (2016) thought that an entrepreneur should have. It is reflected in the following four areas. First, she has a keen sense to find a good market opportunity, which laid the foundation for her successful business. When she started her business, there has been a lot of types of perfume, and ladies who used perfume were very picky for perfume, Jo Malone found that the ladies liked a simple and natural perfume more, this discovery laid the foundation for her finding the first batch of target customers rapidly and her establishment of the brand image in future. Second, she has good communication skills, her good communication with customers and her understanding of what customers needed allowed her to more quickly grasp the customers’ psychology, so that she was able to introduce products that customers really liked; her good communication with the partners enabled her to quickly find a suitable sales channel, her products were sold in the high-end department store named Bergdorf Goodman, which rapidly expanded the visibility (Malone, 2016). Third, she has a good strategic decision-making capacity, Jo Malone was defined as an elegant, natural, luxury perfume when it was born, in the enterprise development process, Jo Malone chose the sales channel, price positioning, cooperation partner, that matched with the product positioning well. Until today, Jo Malone perfume is accepted by the world's consumers because of its elegance, nature, personality, luxury characteristics. This shows that Jo Malone has a long-term strategic plan for the development of an enterprise in the early stages of the business, based on the strategic plan, she has developed a business development decision which has ultimately succeeded (Malone, 2016). Finally, she has a high degree of innovation capacity, she did not lose the passion and inspiration of perfume modulation because of the initial success of the enterprise, she has led the introduction of more than 100 hot kinds of perfume, these kinds of perfume protected the long-term competitiveness of the enterprise, until today, she can continue to introduce the perfume that surprises the global consumers (Malone, 2016).

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