Posted at 01.01.2019
As Peter F. Drucker (2001) explains the entrepreneurial strategies as 'Being the fustest with the mostest' which highlights at the beginning of a management position. Beginning a command position is very risky though very rewarding if it's successful. More strategies fall season within the entrepreneurial strategies is 'Creative Imitation' which entirely aims to create management and dominance. 'Finding and occupying a specific "ecological niche"' is another strategy defines the aim at control, changing the monetary characteristics of a product, a market, or an industry and all these try to create a person. This paper is the case study of selected businesses in terms of entrepreneurial strategies that the enterprises have implemented.
Case: 1. Image Caf
ImageCaf is definitely going right through financial crises. ImageCaf isn't just enterprises but result of continuous have difficulty and Wooten's consequence of learning from his faults. Clarence Wooten Jr. childhood dream to become rich had been a inspiration for his impressive mind and establish a company that offers computer animation technology. His interest in video gaming was rousing factor to have desire for computer and animation business. His parents moving for the job from one location to another and repeated moves from one destination to another place and constantly change contributed him for understanding the different people and different circumstances which understanding helped him to develop authority quality. Despite been possibly progressive and leadership quality of Wooten, his companies went through troubles and concluded as inability. When he began his first company he was only 20 and possessed passion to own his own built businesses. His first company Envision Design which he began at age 20 failed scheduled to insufficient animation business knowledge or quite simply due to insufficient skills knowledge and skills. However Envision Design failed he continued working and discovered to improve his skills and extra-knowledge about the computer animation. In this respect he learned SGI animation software technology which helped him later to start his second company Metamorphosis. Metamorphosis was also a failure for many reasons. The first reason of its failing was having less give attention to the sole goal and employed in dispersed way, and other reason was that company was making low earnings and having financial problems. Wooten's passion to become businessman never perished down and he analyzed the sources of the inability which he found the major reason of inability of the business. Later on he took admission into John Hopkins School to understand the financing and major components of business growth. In the in the meantime, time was changing extremely fast and in 1995 introduction of internet has revolutionized depends upon and business was the most afflicted because of it. Wooten became aware that the need of web site will induce the companies to acquire their site developed; therefore he chosen to begin another endeavor, a site developer company. That time there have been 4. 1 million commercial online services available for sale. He named the company ImageCaf and founded it with Company built his site which was liked by many people and traders showed interest to invest in the business. Company has consistently been gone through financial meltdown and usually out of cash which has affected the creation ability of the business. The product quality of the business might be of good quality designed innovative ideas and control quality of Wooten, the reason that company is always working out of profit spite of having big amount of capital may be related to mismanagement or un proper planning from the management.
Case 2: Roxanne Quimby
Roxanne Quimby had been from the family where everyone in the family worked well for living but she never liked to working because of her nature and attitude. She had discovered from her daddy businessman skills and always liked to be a business owner. She had sold out her hand made craft and had experience to how an entrepreneur is run. Because of her characteristics and skills she succeeded to determine a Bees company which produce different bees product. Roxanne Quimby and Shavitz Burt show 70% and 30% of its stock respectively from the inception of the business. Company was obviously imitated by both as Burt contributed his business which comprised of 30 hives and Quimby who had always been motivated toward to be entrepreneur, hard working and business owner skills. Burt Shavitz had a business of producing bee with 30 hives in Dexter Maine which he had purchased in 1973. To make this bee creating a real businessman Quimby and Shavitz shared $400 using their personal savings and launched a honey and beeswax business. It was the start of a business owner with Quimby businessman skills and thoughts. Since Quimby had been an entrepreneur minded because of her fathers' effect, she was the most positively involved in the process of all production. Burt's bees' experienced $ 10, 000 sales in its first yr and in 1987 Burt' bees' made $81, 000 in sales. This is the early success of Burt's Bees' as in 1989 it arrived at a wholesale show in Springfield, Massachusetts. In 1993, Burt's Bees' experienced 44 employees. Company product was successful in all accounts and making revenue every year. The success of the company can be recognized by this point that company never had a need to take loan for production. Quimby used to work and entail in all process like pouring and capping. There is high cost in the transport of the product from Maine to some other area of the state and consist demand for the merchandise requires upsurge in the worker while in local area there was scarcity of expertise. Due to transport cost, insufficient experience in the area and high payroll taxes Burt's Bees' was decided to be moved to North Carolina. Time has taken many changes in the products range of Burt's Bees'. Company had launched different many products like skin care products; lip balm and other product candle that was the first milestone of the company success. But here in North Carolina Company had a need to change its old products and reshape the products range. At the same time Quimby considered over the extension of the company which was extremely hard without advertising out of company's show.
Case 3: Globant
Along with the monthly income 1 million and 600 employees, Globant was one of the greatest independent Information Technology outsourcer. It had been founded by four technical engineers in 2004. The main eye-sight with which it came out was to hire the best talent and serve the high quality solution. This company was motivated by the Indian progress in the IT outsourcing sector. The major dread factor in the company's competency was that the most of potential clients were not aware of the united states Argentine and there was concern with cyber crime which is related to country name. Among the strengths of the business was its Management team, which can be skillfully skilled in the respective field of Business Management, Sales, Marketing, IT and Sales industry, and Business Management for Technology industry. Company has another competitive gain in terms of company's insurance policy of facilitating its employees and culture of company was to build the best working environment by providing enjoyable games, excellent food, yoga classes and fitness trainers. Company offered especial focus on the employee in terms of developing vocabulary proficiency. The eyesight of Globant is to provide high quality service to its client with best answer by expertise. To meet up this plan company hires a wide variety of different record land scientific information and skills. The goal of hiring group of employees from different scientific background is to provide any skills in which customer might be interested. For this purpose folks of different knowledge like Linux, House windows, Java, UNIX, NET, LAMP and oracle has been appointed with experience in system administration. This can be concluded as using global philosophy and using local talent. The services provided to the customers are offered as Software Development, Infrastructure Management, and Globalization. Among the reasons of the business success is the commitment with the customers and its own fulfillment. Since early on 1990s the development and growth in the IT sector has happened and every company seek to have its own portal. This tendency has risen the opportunity for IT specialists to outsource these companies. For quite some time India and China has been middle of computer outsourcing sector but now it has developed in Latin America too. After 2000, your competition in IT outsourcing sector has extremely increased credited to which labor rates in India and China increased on the other hand there is personnel downsizing. IT outsourcing Industry has now well toned by 2006 and many companies are conducting business in IT outsourcing. As Globant got into an interval of fast progress in the many segments, it decided to focus on US marketplaces because in US they already have existing customers. The next goal of Globant is high-tech industry. To target high-tech industry geographically California would be best place because there is huge high-tech market and already existing companies which may bring the business many recommendations clients. Globant in addition has developed a measureable knowledge of travel industry while working around the entire world using its major clients. Company has also realized that travel industry has experienced big changes and shifted to other route in the recent years. Because for travelling people usually would rather use fasted and convenient service and for this they use online travel scheduling. Company has demonstrated great competency so far in the field of IT outsourcing, high-tech and travel e-commerce. Change and launching new segments as time passes is another competency company followed to expand the business.
Case 4: Indulgence Spa Products
Jimella after doing her MBA from Duke became Dawson's main marketing officer. Dawson's Cosmetics was an extended struggled company of her parents. The business was consequence of constantly hardworking and devotion of them. Since her parents always have confidence in financial self efficiency of black they always wished to see their daughters to caring for their family business. Jimella experienced also brought up in such environment where self dependency was rather important. She acquired discovered from her parents the business enterprise skills in very early age. Jimella and her sister Angela had been taking part in the family business since she was only 11. In very young age her they were inspired by their parents to take part in family business. At very childhood she had discovered how to do door-to-door sale of products.
In 1993, Jimella's sister Angela joined up with the business as legal counsel and from then on company needed over a plastic manufacturing firm rendering it line of Dawson's' Makeup. Jimella founded this business and became president of the aesthetic department. In 1998, Jimella came up with new product development plan and modified the brand name of product as Indulgence. New brand Indulgence became a success and Jimella searched for new investors to expand the business. In 2003, she launched new sales strategy and eliminates salary system for sales rep. She was getting excited about viewing her own plastic range split from Dawson's Cosmetic makeup products. When she was main marketing officer of Cosmetic division she applied different sales technique to enhance the brand sales. She experienced learned these skills from her parents. She gained the administrative centre amount to have her individual cosmetic range from Dawson's Cosmetic. To create this project successful she needed to work really hard and create new competitive marketing strategies. She released spa products with her plastic range to build up completive strategy because other large aesthetic organizations weren't offering spa products. She altered all and redesigned the product guide displaying women of most races alternatively than only dark women. She used advertising in national publication and little by little became national group of beauty advisor. She targeted most effective growth for the business and prepared to get 100 beauty advisors. Jimella maintained working very hard and aggressively to rendering it most effective sales product the sales of Indulgence in 2005 dropped short of prospects. The reason of the short fall could not be recognized yet it can be remarked as market downfall which reduced market sales of Indulgence spa products. Sales and marketing strategies applied by Jimella might not exactly be proved to be affective to manipulate customers' head. Another reason of the fall in sales might be described as uncompetitive in the market in spite of applying effective and feasible strategies.