Factors of Success

2341 WordsJul 15, 201810 Pages
Introduction and objectives The overall objective of this individual assignment is targeted in two separate, yet strongly interrelated sections. Our first task is concerned with one inspiring entrepreneurial story and its reasons for success. Furthermore, other factors for success will be discussed, in the light of relevant literature. Additionally, I will identify the personal takeaways I can take from it. To support this, I also intend to explain the logic used to identify these takeaways. Other interesting details of this entrepreneurial story, but not relevant for the main critical analysis, will be placed in the appendix. Following this, using two different personal entrepreneurial assessment tests, I will evaluate my own…show more content…
In the previous page, some ideas were depicted, in order to frame Cordys' and Jan Baan's reasons for success into a common framework. This shows the connection between an awareness of new emerging trends in the software industry and Baan's personal characteristics. Having set this framework and mentioned the casual ambiguity and mutual interdependence amongst all the reasons for success, the first reason for success I can argue is a combination between an opportunistic personal trait and an innovative approach to problem solving. In other words, Jan Baan has always been ready to sense an opportunity and innovate to succeed (Baan 2010, p. 23; Eppink 2010). This burning desire for innovation was a fundamental cornerstone in both The Baan Company in the past, and Cordys nowadays. He himself stated that he expected his enterprises to be trend-setters and not followers (Baan 2005, p.123). Specifically, in the case of Cordys, Baan detected that the software industry required an agile consumer-driven innovation (Eppink 2010). Indeed, innovation is crucial if a small firm wants to grow and be successful (Barringer and Ireland 2010). Furthermore supportive networks developed around clusters could boost innovation (Burns 2007, p70). Interestingly, this was also true for Jan Baan, who in early stages involved his brother, and simultaneously built up a close network in his home country, the Netherlands. Hence, from the last paragraph, as a

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