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Entrepreneurs are as varied and unique as their business ideas. They com Show more Entrepreneurial Collage Entrepreneurs are as varied and unique as their business ideas. They come in all shapes sizes ages and colours. Consider the following collage of entrepreneurs: Ten-year-old Brandon Bozek started his business Bloomin Express when he noticed that the flowers customers bought from the local supermarket wilted after just a day or two. Brandons fresh-flower subscription service rings up sales of $150 per month and most of the $75 in profit goes into savings. He telephones his order to a local flower market every Tuesday morning. On Thursday with the help of his steering wheel consultants (his parents) Brandon delivers the floral orders to his customers. Gerald Levinsons radio was stolen from his car three times despite the car alarm and stereo lock he used. Therefore Levinson found a better way: He designed a stolen radio faade that fits over a radio to make it look as if it has already been stolen. The unit is very convincing complete with loose wires and cracked plastic. Mary Anne Jackson a former executive at Beatrice Foods went out on her own to start the first prepackaged food company aiming its products at kids. Her company My Own Meals generates more than $5 million in sales. All I had when I started was an idea for a product and a prayer she says. Michael Williams saw an opportunity in an unexploited ethic niche a black comedy club. With $1 000 of his savings Williams rented a hall and placed an ad in a magazine for black stand-up comedians. Eight local comics performed. The show was a hit and the Comedy Act Theater was born. Today the club grosses $600 000 annually and Williams has opened a second club with plans to open twenty-four more. If you are around kids chances are that you have heard about the Teenage Mutant Ninja Turtles. The Turtles creators Kevin Eastman and Peter Laird were struggling artists swapping drawings in their living room in 1983. Eastman sketched a masked upright turtle armed with an oriental weapon. It was a spontaneous thing. I did it to make Peter laugh Eastman says. Within minutes the two had created one of the most recognizable sets of heroes in kid-dom. Eastman and Laird launched their own comic book publishing company and their first black-and-white comics sold rapidly. Soon after the artist signed a licensing agreement with Playmate Toys for a variety of childrens products. The reptilian heroes Leonardo Donatello Raphael and Michelangelo were once the hottest non-electronic toys on the market since Cabbage Patch dolls. Their action toys movies cartoons comic books and other products generate between %5 million and $15 million in revenues for the two creators. Im now a businessman instead of an artist observed Eastman. Cowabunga! Sources: Adapted From Kids in Business Changing Times March 1990 pp.96-97; Terri Thompson How Tykes Can Be Tycoons US News & World Report February 19 1990 pp. 68-69; Fooling the Fools Entrepreneur December 1989 p. 118; Christine Forbes and Erika Kotite Entrepreneurs Across America Entrepreneur June 1990 p 96; Wayne Lionel Aponte Have You Heard the One About the Comedy Club Wall Street Journal October 31 1990 p. B2; Christopher Geehern Cowabunga Dude Entrepreneur March 1991 pp. 76-81. Differentiate entrepreneur and entrepreneurship. [4 marks] Do these entrepreneurs exhibit entrepreneurial characteristics or competencies? If so explain. [15 marks] What is an opportunity? Describe the opportunity identification process of at least one of the entrepreneurs in the above article. [6 marks] In your opinion what contributions do small businesses like these make to the country? [10 marks] The past few years have seen an increase in the number of entrepreneurship or business ownership of Malaysian Bumiputera. Briefly explain the forces that have led to the boom in Bumiputera entrepreneurship in Malaysia (NEP NDP NVP NEM ETP)? [15 marks] Show less . TODAY AND GET AN AMAZING DISCOUNT The post Describe the opportunity identification process of at least one of the entrepreneurs in the above article appeared first on Term Paper Tutors.”Do you need a similar assignment done for you from scratch? We have qualified writers to help you with a guaranteed plagiarism-free A+ quality paper.
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