INDIVIDUAL COURSEWORK – 1500 words
Burns (2011) distinguishes between owner-managers and entrepreneurs and discusses a variety of factors which “influence the decisions on whether to start up a business and whether to grow it” (Burns 2011, pg 34). Within what he describes as ‘situational factors’, Burns highlights the importance of events which act as ‘triggers’ for entrepreneurial activity,
“Most people, at some time in their life, have an idea that could form the basis for establishing their own business. But few people choose to do so. What is needed is a trigger to spur them into action, to turn these ideas into reality. These triggers can take the form of ‘push’ or ‘pull’ factors. Push factors are those that push you into self employment – unemployment or forced redundancy, disagreement with your boss, being a ‘misfit’ and not feeling comfortable in an organisation and for some reason, or simply having no alternative because, for example, you have a physical disability or illness. These are very strong motivations for self-employment, but not necessarily to grow your business. Pull factors – the need for independence, achievement and recognition, personal development and wealth – are positive reasons for setting up a business. Sometimes the factors combine and an entrepreneur emerges with a positive motivation, for example to make a success of an innovative idea, having felt a ‘misfit’ in their old organisation.” (Burns 2011, pg 53)
Burns (2011) then discusses the ‘blocks’ that inhibit entrepreneurial action and concludes that,
“All too often these triggers are blocked by other factors – the need for regular income, a family to support, no capital or a doubt about your own ability. These all boil down to two things – insufficient self-confidence and an inability to cope with high risk and uncertainty. Without these key ingredients the business will not get past the ideas stage.” (Burns 2011, pg 53)
Burns P (2011) Entrepreneurship & Small Business, Palgrave Macmillan
Select an ‘entrepreneur’ and analyse their journey through the ‘entrepreneurial process’, from the initial idea through to start-up &‘growth’. Discuss, with examples, whether your analysis supports Burns assertions about ‘triggers’ and ‘blocks’. Critically evaluate whether these factors alone fully explain the reasons for your entrepreneurs decision to start up, and the ‘growth’ of their business. Based on your response what do you conclude about creating a successful new venture?
[You are reminded to make use of examples from your analysis and draw upon wider reading of the entrepreneurial literature, in your response.]
Select an ‘entrepreneur’and analyse their journey through the‘entrepreneurial process’, from the initial idea through to start-up &‘growth’.
The Entrepreneur: Mrs. Aisha Hussein Alfardan
Aisha Alfardan is a Qatari businesswoman known for her Charity work, Human Rights, and Political activities. Aisha was born in Qatar and she is a descended from an ancient family of known for their pearltrade in the Gulf. Her father Hussain Alfardan established his first Jewellery business at the age of 21, and for 50 years he was known for Alfardan Group which he managed to grow and gain very well known reputation(Alfardan.com.qa, 2014).Alfardan Group are known for their high quality of products and services which includes trading of Jewellery, Watches, Automobiles, Development of real-estate as well as money exchange and investments(Qataribusinessmen.org, 2014). AlfardanGroup handles the dealership of some of the biggest brands in the world including watch brands such as Piaget, Vacheron Constantin and Chopard, and car brands such as BMW, Mini, Rolls-Royce, Maserati and Ferrari(Australia.tmcnet.com, 2014).Her father net worth $452.6 MIL and he ranked 47 place as the world richest arab in 2013 from banking only as the family owns 10% stake in Commercial Bank of Qatar(English.forbesmiddleeast.com, 2014).
As a daughter of a famous businessman she followed her father’s steps and became one of the successful businesswomen in the middle east. In 1993, Aisha studied and graduated from Qatar University and got a degree in English Literature. In 1994, she started her career in the Commercial Bank of Qatar where she worked for 9 years, and eventually held the Ladies Branch as a manager. In 2003, she joined her family business at Alfardan Group to be part of the flock. Aisha says that her best part about working in her family business is the challenge that comes with it and how to maintain growing the legacy that her family build throughout the years.Her joining to Alfardan Group as a director of business development and giving her the responsibility of Alfardan Cars has placed her to be the first Woman in Qatar to work in the field of cars.
Aisha is the head of Qatar Center for Businesswomen Network of the Middle East and North Africa (MENA) region, and served as a vice president of the Qatari Businesswomen Forum. In 2006, she Ranked the 24th place on the Forbes list of the fifty businesswomen in the Arab World in appreciation for her successes, excellence, and aspiration in business. She participated in local and international conferences like delivering a speech for the second conference in Jaddah -KSA in 2006 for businesswoman in the Gulf.In 2007, she participated in the ninth Forum of Dubai Business Women pioneer as speaker and representative of the State of Qatar.Aisha emphasises the importance of the forum to support businesswomen to establish their businesses.She was also impressed with the rapid development of Qatari businesswomen, Where there was 1400 women entrepreneurs have been registered in the Qatar Chamber of Commerce and Industry in Qatar. in 2008, she announced businesswomen award which will be awarded in recognition of the contribution of Qatari women who achieve their business goals in a professional level which push the wheel social progress and economic prosperity nationwide.
Discuss, with examples, whether your analysis supports Burns assertions about ‘triggers’ and ‘blocks’.
Critically evaluate whether these factors alone fully explain the reasons for your entrepreneurs decision to start up, and the ‘growth’ of their business.
Based on your response what do you conclude about creating a successful new venture?
Alfardan.com.qa. 2014. Corporate Profile | Alfardan Group Holding. [online] Available at: http://www.alfardan.com.qa/corporate-profile/ [Accessed: 26 Mar 2014].
Qataribusinessmen.org. 2014. QATARI BUSINESSMEN ASSOCIATION-HUSSAIN EBRAHIM ALFARDAN. [online] Available at: http://www.qataribusinessmen.org/support/fardan.htm [Accessed: 24 Mar 2014].
Australia.tmcnet.com. 2014. Top 100 WORLD’S MOST INFLUENTIAL ARABS – Part 2 [Gulf Business (United Arab Emirates)]. [online] Available at: http://australia.tmcnet.com/news/2012/02/23/6139713.htm [Accessed: 26 Mar 2014].
English.forbesmiddleeast.com. 2014. Hussain Ibrahim Alfardan & Family. [online] Available at: http://english.forbesmiddleeast.com/details.php?row=2913&list=44473 [Accessed: 26 Mar 2014].
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