Growing up as a Girl Scout, I have been trained to think like an entrepreneur and have learned to solve many problems. Girl Scouts are known for their famous cookies sold every year and need to create new advertising for the sales of their products. I had gone door to door selling for years, but thought that selling in a central location where the cookies are physically there, and not being delivered weeks later would be a better idea. As a troop, we began to sell at a local grocery store and noticed an increase in our sales. We sold at the store for a few weeks, taking shifts, and promoting our product. This is not necessarily a business that I have created with a brand new product or service, but it has taught me how to be innovative and
The competitive analysis sought to establish Kendra Scott’s competitive rivalry, buyer power, supplier power, threat of new entrants, and threat of substitutes. Kendra Scott has various major competitors, but it has preserved its leadership in the jewelry industry by maintaining a brand that is associated with superior and consistent customer experience, authenticity, superior core values, and flexibility in responding to changing tastes. The consumers have weak bargaining power largely due to the emotional attachment they have for particular jewelry brands. Besides, they do not rely on market forces and pricing levels to make purchasing decisions. The jewelry company and its main competitors depend on a few suppliers for their raw materials
If you don’t have that passion and push for something you won’t achieve it and you won’t be happy with what you’re doing. Build your business around something you love and you’re endlessly interested in. In chapter two Martha talks about pretty much focusing. To focus on the simple things. What do people need or what? Then from that look for ways to improve your big idea. Have multiple ideas. On page 41 Martha gives a one idea, many plat form example. It was amazing, I really liked it and took notes on it. Chapter three, a business plan. You must have a business plan. I mean you don’t have to. But you won’t go far without one. Make a business plan that allows you to focus on your big idea. But also, flexible for needed changes for improvement as your business grows. Don’t be afraid to ask for help. Most important to me is to think outside of the box. Get out of your comfort level. Chapter 4, teach so you can learn. While sharing your services or products with your customers you create a connection. With that connection, you build and manage your business successfully. Get to know your customers and a build a foundation. Chapter 5, talks about your techniques. That you really need to do your
...alented young managers in this area need to be aggressively obtained for long term growth. For a quick fix, this service should be outsourced to handle current needs. Distribution channels need to improve as well. Currently, competitor’s products are easily found at major retail channels. Nestle is in the position to gain a strong hold on the home dessert market for ice cream. Ice-fili needs to compete more aggressively in this portion of the market. In addition franchises and fast food chains should be targeted for partnerships or joint ventures so Ice-Fili’s ice cream can grow in association with a post meal dessert opposed to simply impulsive snack purchases. A key avenue to explore is an Initial Public Offering. This would generate enough funds to continue capital investment in technology desperately needed as well as promoting international market growth.
Katz, J. A., & Green, R. P. (2014). Entrepreneurial small business (4th ed.). New York, NY: McGraw-Hill/Irwin.
Executive summary of the event. In this business case, a shift from seasonal to monthly production of toys will change the seasonal cycle of Toys World's working capital needs and necessitate new bank credit arrangements. It has to analyze the company's performance, forecast fund needs and make a recommendation. The case introduces the pattern of current assets and cash flows in a seasonal company and provides elementary exercise in the construction of the pro forma financial statements and estimation of fund needs.
Known as Tiffany Blue, the colour was selected by founder Charles Lewis Tiffany for the cover of the Blue Book, Tiffany’s annual collection of exquisitely handcrafted jewels, which was first published ...
The organization I chose for my Social Media Analysis paper was The Boys and Girls Club of America (BGCA). The Boys and Girls Club of America has been aiding children and their communities for years. BGCA provides different programs for low income children 6 to 17 years old, which will help them develop into hard working, productive individuals. They offer different programs based on interests and age. Their goal is to provide a safe environment for youth to develop self esteem and future goals for themselves. The children in this organization learn about freedom of expression and aid in preventing bulling. The program has succeeded and provided the communities with hard working stand up individuals. The people who attend this organization’s
Some of the features and benefits the product will sell is a unique experience for the buyer and special codes for social media. I would like to have a known position in the market it doesn't need to be as big as Coke-a-cola or Pepsi, but it is known so when someone goes to the store they
In Grade 9, when I started to develop an interest in business by taking Grade 10 Introduction to Business, my teacher saw my potential and recommended me to join "BizCamp." This is a competition for all business students in Grade 9-12 where one has to create a business plan and present it a panel of judges who are entrepreneurs, bankers, etc. I got first place in this competition and earned $1000 and it was the...
As a consultant for Toys, Inc., I have been called in for my advice by the company’s president, Marybeth Corbella; on which of the two proposed options would be best for the company and for the customers as well. Toys, Inc. is a 20-year-old company that produces toys and board games, our company has a reputation built on quality and innovation. Although we have been the market leader in our field, the sales have become stagnant in recent years, and sales have begun to decline when comparing them to the sales in the past. With the company’s managers attributing the decline of sales on the economy, the company was forced to reduce production costs and layoffs in the design and product development departments; this action will hopefully increase
By following the strategy that I have given, we can monitor the sale of our product. Once we see an increase in revenue, we can increase our advertising campaign to directly penetrate household markets through TV and/or radio. All of these numbers and strategies seem to line up for a successful product.
By seventeen, I’d gone through a long client list, raising prices somewhat while dramatically improving quality. By now, I’ve created everything from logos, for YouTubers, to business websites and animations. Recently I’ve added photography, currently my most popular service. So when I’m not occupied by lacrosse, self studying AP Computer Science, being president of my school’s Muslim Student Association, or my job in retail, I find myself trying to improve my business however possible. After having this amazing experience, I feel as if I’ve taken a large step into entrepreneurship, a world which I so passionately crave to be part of. But no matter where this road takes me or how far I get in the industry of business, computers, art, or maybe all three, I can proudly look back at those white walls and that small metal bin that so perfectly complements that corner of my room and smile, knowing that’s where it all
I have become so passionate about DECA and wish to pass that down to incoming students and students who haven’t yet become involved in the organization. Like DECA, I want to inspire future leaders and business students within the school. I would like to work towards the expansion and promotion of the club. I want to help other students become better competitors, as well as expand my skills. My Entrepreneurship Promotion Project next year will introduce 8th graders to entrepreneurship and DECA. By the end of my workshop, I hope that all of the students will be signing up for business classes their Freshman year. Along with DECA, I am very dedicated to Drama Club and my school work. Using my skills from DECA and marketing, I am running for the Promotion position on the Drama Club Executive Board. To balance my time, I am willing to do whatever I have to do to split my time between the boards. Drama Board only meets once a month, and I am willing to spend my lunch and my study hall next year with the DECA Executive Board if necessary. When I am dedicated to something, I completely invest myself into it. During the school year, I commit a lot of time to DECA. I am creative and can come up with good ideas on the spot. I have a lot of ideas for improving the club. I think that we should focus on advertising DECA to middle schoolers, but also high schoolers as well. I feel as though more promotion could be
That active element is advertising – but not just any kind of advertising. It has to be a thought-out plan that involves concrete solutions that bring in results. Here’s how to go about doing that.
Getting business assistance and training is also essential to have better knowledge of the market and know the consumer’s needs and wants. Lastly but most importantly, find a suitable location to start your business. Undoubtedly, harder the work is the better the results and profits are because hard work always pays off in a positive and satisfying