Entrepreneurship Case Study Example | Topics and Well Written Essays - 2250 words

Entrepreneurship - Case Study Example Donella Parker, Steve Allen and Reg Price though common in terms of leaving the same company because of their personal frustrations at work had diversified skills to manage the new venture i.e. R Cubed had different profiles in terms of contrasting backgrounds and expertise they brought to the business. Steve had sales and marketing background with analytical abilities and the administrative domain; Reg was a total marketer having relationship oriented skills; whereas, Donella's prime asset was her expertise in research and which was also backed by a considerable amount of experience both in terms of number of years she worked and the client base she had established. The three started of with the 35 old clients and as a part of the financial strategy did not opt for long term debt to leverage profits instead focused on utilizing the bank overdraft facility which they learned from their past experiences. The three divided the work according to the functional proficiency that each possessed. Initially they limited themselves to serving the needs of the business themselves rather than hiring a large amount of the work force because they knew the pressures of growth would lead them to another hassle rather than focusing on their customers' needs well. An important part of business planning was that it was relatively shorter term and was done every four months; a benefit of this type of approach was to focus on the quick changes that were occurring the environment and affecting the business in any of its development. The business was designed and structured to be as customer friendly as possible by making use of available technology by guiding clients, making use of visual summaries, reports etc. The processes employed are quite transparent and employees at all time are welcome to analyze the processes and point out employees' strengths and weaknesses, visit the website for any polls that reflect and critically evaluate the company and the employee potential. The company rewards its employees that are very much compatible with the industry benchmarks and provides them with bonus shares for their above par performance. The evaluation criteria is set on the basis of value addition the employee has made to the company and towards the serving of the customer needs. The company's organogram was structured to foster efficiency and a climate to motivate the people working. As the company moves forward and faces the compounding pressures of growth in size and the changes in the environment, it has to reconsider its strategic direction and align itself with the environment; move into new areas by market development like moving into Australian market and also focus on product development such as moving from tactical level research to helping organizations with their strategic planning also as a part of its growth strategy. Its not only the pressure of business but what matter is successful rebalancing of the family and the business life too. Case 2: Otila Williams: Positive Career Solutions Otila Williams is into the recruitment business which she set up because she was value driven and was motivated by the fact