Case Study : Business And Entrepreneurship

In today’s complex and ever changing environment, organization continue to experiment with new forms of team development. Some of the most successful teams bring together employees with different talents and perspectives. In this research report, my aim is to have a clear and deep research on teamwork and how it affects businesses so that I can help Tina and Frank who is coming back from overseas to start their own business. Before could anybody start their business, it is very important to learn certain aspects. Team work is one among them. I have included some of the important information I collected through my research in order to help Tina and Frank succeed in their business.

“John Labatt Blows In and Out of the Windy City, A Case Study in Entrepreneurship and Business Failure, 1889-1896”, a 2014 article by Matthew Bellamy clearly illustrates multiple aspects working against the Labatt Brewery in its attempt to jump into American saloons in the nineteenth century. Being the first Canadian Brewery to tackle an expansion undertaking provided an interesting study for the author. The article discusses the brewery’s history and compares the different possibilities that lead to the downfall of the company’s American Expansion. Debating with the readers whether the failure was caused by environmental factors or strong personality traits, by not understanding the American consumer base or by not planning for new expenses- Bellamy covers many possible angles as to where the collapse could have faulted.

Teams are an integral component of organizational success. They take on many forms and functions and can have various structures. Teams also conduct a wide variety of projects with goals of innovation or mitigation. An example, from my experience, of a project that required the execution from a team was the establishment of a finished goods inventory program within a paper manufacturing company. A project of this magnitude required that a diverse and multifaceted team be assembled.

Executives refer to business as a team sport for a variety of reasons. First, many business organizational structures arrange departments either in cross specialty teams or task oriented teams based on operational design and expected outcomes. These teams are designed with members who are assigned roles that increase overall team productivity. The team members bring talents, knowledge and a skill set that uniquely contributes to collective intelligence and resourcefulness. Through collaboration and team work, Successful teams achieve synergy, or “exceeds the sum of each individual’s contribution”.

Building teams might seem like a very difficult task even for a well-seasoned manager. However, building teams in a competitive, stressful or high-pressure field can seem almost insurmountable. We see this most often in competitive field such as sales, production or where an organization might have more than one business unit competing for recognition such as hospitality. When organizations run into issues with the lack of or insufficient teamwork it can hurt the organizations image, profits or will inhibit the company growth by lack of sharing best practices, missed opportunities, higher cost or loss of labor.

Investors play a significant role in enhancing the growth of enterprises all over the world. As the world continue to experience emerging challenges and opportunities, the number of emerging entrepreneurs continues to rise as well. Even though some of these budding businesspeople have a financial base from which they launch their new ventures, a majority do not have identifiable sources of funds. Therefore, this group of unlucky entrepreneurs is always seeking out successful and sophisticated investors who are always willing to invest in new promising start-ups. However, the catch is that the budding businesspeople seeking partners and funding must first and foremost do a pitch, where

Research show that individuals are at their most effective when they perform in groups that are a phenomenon known as collaboration. Such a concept declares that the mixed outcome of a group is more than the results of each included together. On the other side, it is crucial to invest in groups, put workers in groups produce their best known as support groups, and enhance and develop oneness. Such will get individuals in Traders Joe company feel respected (Porter & Kramer, 2011). Whenever people perform in groups, they see themselves as a group that performs towards the achievement of a common objective, rather than just a lot of people competitive against each

Team collaboration is an important element in organizational function. It is suggested that collaborative working relationships lead to increased job satisfaction and productivity. Leaders should their position to ensure all team members’ ideas and opinions are heard. The research determined interpersonal collaboration lead to better decision making, increased creativity, and effective problem solving.

Every new business commences with a concept or thought or an idea. For instance, an entrepreneur may be knowledgeable and passionate about something, or maybe there is an urge to fill a gap in the marketplace and therefore turn the thought into a business. In order to make this business idea work perfectly, it is necessary to carry out market research, write a business plan including realistic projections, target the right market and prospects and develop an effective team to support. A team is a group of individual coming together so as to achieve a common goal. However there are different types of a team member that are essential in creating a new entrepreneurial venture, such as the shapers, chairperson, monitor-evaluator, company worker, team worker, et al. All these personalities and diversities are needed in an organization to be successful.

Within the decade alone there has been a growth in hackers attacking smaller businesses, company breaches and identity thefts have risen and resulted in millions of people’s information being on full display to an absolute stranger. Hackers have breached half of the 28 million small businesses in the United States. Larger businesses spend hundreds of thousands or even millions, of dollars on cybersecurity, but when it comes to small businesses, many owners aren't spending enough for the right protection. Many companies in all industries are hit with a malware attack that at first does nothing, some hackers use security lapses in small businesses as an off the record entry into a larger partner company.

It is no surprise, therefore, that it is becoming a dependable and beneficial resource to companies. Also, extensive tasks that are essential to business operation must be completed by a team, tasks that involve moving parts in a changing market, and therefore the ability to work in a team is a valuable asset for employees, and the ability to craft a team that will work efficiently is a valuable asset to the business strategy of managers. But does there need to be a team for everything? The author articulates that to put a team on a small or simple task actually becomes inefficient. The decision to make a team stems from wanting an efficient allocation of resources. Since some work better on their own, that makes them valuable when it comes to small or large and simple tasks, that would not benefit much from the differing opinions of a team, nor the manpower of a team.

The idea to succeed can only go so far, it is the paths chosen that can make the end result a success, or a failure. We all want to succeed, but as a leader you have to determine what approach to make. Shall I take on this idea alone, or should I create a group to assist me, whatever it takes to succeed, right? Some ideas can be accomplished by an individual alone, but usually bigger ideas need a team to see it through. Working in a team environment can have its drawbacks, but it also has many benefits. In this paper I am going to provide research to support the setbacks and benefits of both the individual environment and the team environment. I found that what an individual may lack is a team’s gain, vice versa. The important result is the success achieved by either a team, or an individual.

Now a day 's generation is changing rapidly so as new technologies were aware. As the technology comes, new industries are built in different sectors. This case study is about industries that are growing in the United States. How they are growing and what are the reasons and problems they are facing while developing a company is mentioned in this case.

This case explains a prompt of a local, successful car dealership, in which I will be the general manager and partner of. This Ford dealership has net worth of $1,800,000. And at the weekly meeting with the business’ sales force, I find out that we are on track for another successful year, by being ahead of our sales quota.

I hereby confirm that this assignment is my own work. I have identified and acknowledged all sources used in this assignment and have referenced according to the Harvard referencing system. I have read and understood the Plagiarism and Collusion section provided with the assignment brief and understood the consequences of plagiarising.