Browse our Free Essay examples and check out our Writing tools to get your assignments done.
THE ENTREPRENEUR’S REPORT’
The selected entrepreneur is JACK
MA
Relate
everything to the entrepreneur and their business
For this paper, do not add 1.1,
or 2.1 etc. Just put as it is. ONLY bolded subtopics should appear and
labelled.
1.0
Introduction (200)
P1 Entrepreneurship
P2Entrepreneur selected.
How do you identify with Jack Ma?
If you
could interview Jack Ma what questions would you ask them
2.0 How Jack Ma started (500)
Major failures (Effects of Failure p.52)
Major breakthroughs (include Skills to Enhance Creativity
p. 25).
Draw a mode to
relate the 4 elements i.e. SEEC model
3.0
Entrepreneurship Ideas (500)
Include Three Phases of Design Thinking p. 28)
Design a good
image and explain it.
4.0 Business resources (Business funding and sustenance) (200)
Theory 1 (RBV)
Theory 2 (Add one more)
5.0 Stakeholders’ objectives (500)
Theory 1
Theory 2
Stakeholder Map (p. 19)
Types of Stakeholders (p. 20)
6.0 Main strategies (500)
Strategies used in his business
How does jack Ma conduct his business?
7.0 Recommendation (200)
You will also comment on the approaches through which
creativity can be developed in the individual.
8.0 Conclusion (100)
Entrepreneur's
Report- Jack Ma
Student’s
Name
Institutional
Affiliation
Entrepreneur's
Report- Jack Ma
1.0 Introduction
Entrepreneurship
refers to the activity of setting up a new business, taking on financial risks
to maximize the profitability function.
It involves the process of planning, induction, and maintaining, what is
initially a small business. A person who offers products and services to a
target market through this commercial entity is called an entrepreneur. An
entrepreneur is an individual who undertakes a venture to converts ideas or
inventions into a new product or service to attain revenue. Jack Ma is recognized
for his commercial potential, leadership skills, and resources management that
have turned his venture into a commercially viable organization.
I identify with Jack Ma because I believe he
is a top-performing entrepreneur who is the most important influence in the victory
of Alibaba Group. I am convinced that his success relies on his ferocity and
practical nature to do whatever it takes as long as it remains within ethical
boundaries. Majority of the successful entrepreneurs monetize their life and
business experiences. As a result, if I get an opportunity to pick Jack Ma's
brain I will ask him the following questions: How did you know you had the
right idea? What are some of the mistakes you wish you could change?
2.0 How Jack Ma Started
Major Failures
Today, Jack Ma is
a successful entrepreneur who always keeps up with the macro-economic changes.
According to Addams (2018), during the recent crypto-fever, he said he was
confident that technology would resolve the challenges of confidentiality at
the different areas of society. He affirmed that Alibaba Group was already
creating frameworks to monitor changes in block-chain because the global market
relies on significant data. However, Jack Ma was not always a shrewd
businessperson, and on the way to break through, he suffered multiple defeats.
The following are instances where he experienced business and personal
failures:
a. Was Rejected for 30 Jobs
After graduating
from the Hangzhou Teacher's Institute, he applied for different company jobs,
and in every instance, he received a regret message. He sent applications for
over 30 jobs including joining the police force where he was turned down (Addams,
2018). However, he remained optimistic and determined that things were bound to
change.
b. Failed to Convince Investors
At the brink of
bankruptcy, Jack Ma was unable to persuade Silicon Valley to invest in Alibaba.
After creating the firm, it remained unprofitable for over three years because of
the dot.com bubble burst, and it had also expanded too quickly (Forbes, 2019). Nonetheless,
this challenge enabled him to learn from past mistakes and improved the
business operations of his firm.
c. Denied his Alibaba Partners Managerial Positions
Jack Ma told his
partners that they would not be partners in the organization. Addams (2018)
explains that he made one of the poorest organizational decisions when he said to
his partners they would not become executive managers, despite investing more
than $60,000. He planned to hire professional managers. Learning from his
mistakes, Jack Ma later allowed his partners to hold top positions as he
believed in teamwork.
Major Breakthroughs
Jack
Ma's journey to success started when together with his friends they implemented
their business ideas and created an online site about China and Chinese
products. Ma christened it ‘Chinapage', and it contained Chinese firms and
their products. According to Forbes (2019), the initiative attracted interests
from investors; however, the inquiries were marginal enough that the website
struggled. To maintain operations, Jack Ma and his partners decided to
collaborate with a governmental body, relinquishing majority control in the
firm. The partnership brought along firm bureaucratic practices, which
minimized his control and ability to implement organizational ideas. This
situation forced him out of the company because he felt constrained.
Figure 1: SEEC Model
Related Topics:
