Bus 651 - Case Study of Roxanne Quimby

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Report on Case Study of Roxanne Quimby

Sangita Gautam

Bn160761

BUS 651 Entrepreneurship and New Venture

Westcliff University

Mr. Caesar Rana

Abstract

This report mainly focuses on the case of Burts bees. This paper begins with brief introduction of the case and talks about the foremost aspects that the case requires to elaborate.

Introduction

Roxanne Quimby was raised in an entrepreneurial family. Quimby learnt a huge amount of certainty that turned out to be valuable while through a couple of choices her father didn't certify of, she was deserted and allowed to battle absolutely by herself. She met a bee specialist named Burt Shavitz that was as poor as she may have been. The two of them worked together, implementing her creative ability to Burt's nectar and bees wax. They were successful in that with increasing demands of provisions including candles to lip cream across the 50 states.

They got a creation line space in North Carolina where they wanted to make their products and furthermore their customer relations when attempting to build space for greater advancement. On the other hand, the move conveyed more creating torments than Roxanne had imagined.

Entrepreneur

        Anybody can be an entrepreneur. An entrepreneur is a person who starts a business from scratch. Entrepreneurs take the risks and move forward with new angle and dimensions. They are doers not dreamers. Business enterprise doesn’t pick whom to regard as an entrepreneur. Like Roxanne Quimby and Burt Shavitz, any common individual can turn into an entrepreneur if they have proper vision and opportunities which can be used into finding things.

One of the best qualities of an entrepreneur is having strong personality, like Roxanne that set up a business without knowing what the company would transform into.  Normal qualities in an entrepreneur are fixation for circumstances, initiative, responsibility and assurance, valor, resistance of risks, creativity, and inspiration to exceed expectations. An entrepreneur is an individual that is responsible for a business undertaking. The word additionally means an individual who is 'venturesome', who is prepared to participate in an intense or troublesome movement.

In real life condition, particularly in Nepal, entrepreneurial spirit is motivated by poverty among the population. For the most part, individuals are persuaded to getting to be business people with the objective of profiting or sometimes, in order to influence them to be occupied. Whichever be the reason, a critical thing to think in turning into an effective entrepreneur is that you have devotion and enthusiasm. With this, anybody can be a business person.

Risks, rewards and trade-off of a lifestyle business vs. a high potential business