Entrepreneurship Failure

Either the company is able to make those changes or it will not make it very far

Step 1: The business strategy goals are to capitalize on specialty products and offer products for all incomes. The business strategy is a collaboration of the broad differentiation strategy and focused market niche strategy. The broad differentiation strategy concentrates on “seeking to differentiate the company 's product offering from rivals ' in ways that will appeal to a broad spectrum of buyers.” The focused market niche strategy principles are differentiation and concentrating on a narrow buyer segment that may outcompete rivals by offering niche members customized attributes that meet their tastes and requirements better than rivals ' products” (Thompson, Gamble, & Strickland, 2006, p. 114).

The purpose of this report is to investigate the challenges of setting up a business and the difference between the major forms of business; particularly, niche markets as compared to the larger mainstream markets.

Even though the company has been turning in profits, the ineffective collection practice, not availing trade discounts on time and ineffective inventory management has led the company in need of larger financing needs.

Quaker Oats emerged from a turn of the century merger of three milling companies over 130 years ago. It grew to become one of the top companies in the world by providing reliable quality to its first customers. Quaker Oats has been able to build a reputation of offering healthy, wholesome breakfast foods by targeting female supermarket customers. Although advertising has gone from a “warm, healthy breakfast” to delivering messages about “vitamins and minerals essential to a female metabolism” (Standaert, 2003), the target market is the same. Quaker is also hoping to reach nutrition professionals and health-food retailers. According to Indra Nooyi, Chief Executive Officer of Pepsico (parent company of Quaker Oats), they “…do not market to kids under 12…” since they “…do not have a nutritious product…” they feel comfortable marketing to young kids (Farey-Jones, 2010).

- One who creates a new business in the face of risk and uncertainty for

The purpose of writing this report is to show how much I have learned and experience from enrolling in BBA 220. It is also include the impression and my personal reflection about the unit itself, and also the reflection about group project. Before I start this unit, I do not understand much about entrepreneur and entrepreneurship at all. I just know that people who do business are businessmen. However, after joining this unit, my understanding toward entrepreneur become different. Entrepreneur is someone who is willing to take risk by inventing a new business that does not exist in the market or start up their own business to make profit or take benefit of an opportunity. On the other hand, according to Joseph Alois Schumpeter (1883-1950),

Small businesses are mighty minnows, reflecting the competitive spirit that a market economy needs for efficiency; they provide an outlet for entrepreneurial talents, a wider range of consumer goods and services, a check to monopoly inefficiency a source of innovation, and a seedbed for new industries; they allow an economy to be more adaptable to structural change through continuous initiatives embodying new technologies, skills, processes, or products (Ibielski 1997, p. 1).

Many small companies operate in monopolistic competition market structure, including independently owned and operated high-street stores and restaurants. In the case of

In these straitened economic times, frozen food is a sector that is growing as consumers recognise two main factors. Firstly it offers value for money, and secondly it helps to reduce food waste. The UK frozen food market is worth around £5.1 billion a year and accounts for 8% of the UK Grocery Industry (Kantar Worldpanel, 2010). Although in 2010 the market remained flat, it has shown 11.3% value growth between 2007-2010, with indication that the market will continue to grow this year.

Niche markets are an attractive opportunity available to small businesses that are forced to compete against the scale economies that larger competitors are able to achieve (Kotler, 2012). The choice to pursue a niche marketing strategy will not guarantee success, and, similar to any business decision, requires critical assessment. Fenix entrepreneurs had a bold vision of where they wanted the company to go. Utilizing local market, external resources and knowledge gained from working in the manufacturing and retailing industries the company was able to be successful.

It’s noticeable how the company’s operations have been deteriorating as they are having a more difficult time translating sales into cash. Their A/R turnover is not where it needs to be, and in line with that, their liabilities are increasing as well. The company has also been inefficient with the use of their assets as their current activity ratios are not up to par with the industry standards.

Taking this entrepreneur course has been the best thing I could do for myself. Not only did it grow my mindset, but it taught me how to focus and concentrate on meeting my goals. At the beginning of this semester I could not let go the negative self-image I had of myself. Since I have been able to reflect on who I am I am slowly able to let go of that past image. I now know that I am more than able to reach my goals with the proper mindset and skills. I have come a long way since the beginning of this course. At the beginning of this course we were asked what is most important in life, and when I chose myself I knew after that reflections that I was off to a great start. Putting myself first these last few months has been the best thing I

1. Economic Trigger: It lost money and market share in the 80s’. In 1987, performance was so low that it lost half of its equity.

Have you ever had a miraculous idea? The kind of idea where your head keeps on spinning with intriguing questions, so many that your head might spin right off. Where to start and whose going to pay for it? Is the idea even possible to make? These are a couple of the question racing through your mind. The adrenaline is rushing through your blood steam. You want to tell everyone in the world, but in the real world there are people out their looking to steal those great ideas. Which in turn leads to secretiveness of the idea. In a sense it would be like spilling the beans on the Manhattan project.