Daft, R. , page 148, reference that entrepreneurship is the procedure of originating a concern venture, forming the necessary resources, and presuming the associated hazards and wagess. An enterpriser is person who engages in entrepreneurship. An enterpriser recognizes a feasible thought for a concern merchandise or service and carries it out by happening and piecing the necessary resources such as money, people, machinery, and location to set about the concern venture. Entrepreneurs besides assume the hazards and receive and harvest the wagess of the concern. They assume the fiscal and legal hazards ownership and have the concern ‘s net incomes.
Jerry is a immature alumnus and has merely started a new concern endeavor. Jerry needs the advice of seasoned concern executives to success. In undertaking 1, is about reappraisal the public presentation of Jerry concern. Performance is defined as accomplish of a given undertaking measured against present known criterions of truth, completeness, cost, and velocity.
In undertaking 2, is placing Jerry Company ‘s concern strengths and failings. When making concern, company must care about the strength and the failings. This is because, both of them will impact the company growing, net income, and etc.
In undertaking 3, is following the analysis of the company ‘s strengths and failings. Then, urge a program of action that will capitalise on the company ‘s strength. And besides get the better of its failings in the concern.
In undertaking 4, is assisting Jerry to look into ways in which the concern ‘ bing public presentation could be maintained and strengthened. Therefore, Jerry has bought you a one-week, return ticket to his vacation place in Penang.
2.0 Analysis Business Performance of Jerry ‘s Ice-cream House
2.1 Business Performance
Performance is defined as accomplish of a given undertaking measured against present known criterions of truth, completeness, cost, and velocity. Have a good concern public presentation is really of import before you started up a concern.
2.1.2 Performance of Jerry ‘s ice-cream house
Jerry is a immature alumnus and has merely started a new concern endeavor. Business name is Jerry ‘s ice-cream house. The concern is operated in twelvemonth 15 Feb 2012. The location of Jerry ‘s ice-cream house is in Greentown Ipoh, Perak around an industry country. Jerry ‘s ice-cream house working hr per twenty-four hours is 12 hr, 10:00 ante meridiem until 10:00 p.m. In add-on, every hebdomad of Tuesday Jerry ‘s ice-cream house have one twenty-four hours is off twenty-four hours. Therefore, Jerry ‘s ice-cream house merely work six yearss per hebdomad merely.
Jerry ‘s ice-cream house has provided few types of merchandises such as ice-cream, bar, and drink. Ice-cream has different types include lasting, rotators, sherberts, sorbets/ices, no sugar added, lighter side, and low fat ice-cream. Besides that, bars besides have different types that provide to the client such as birthday, vacations, particular occasions, athleticss and animate beings, elegant designs, and freshnesss cake. And the drink besides has few several types. For illustration, shingles, blast, and besides fruit merger.
Furthermore, the monetary value of the merchandise that Jerry ice-cream house provide is general monetary value to the client. Cups and cones ice-cream by and large is RM4, a sundae is RM8 and hand-packed ice-cream have three picks little, medium, and larger, there are RM10, RM20, and RM30.
The packaging of the ice-cream has few types, it includes cups and cones, sundaes, or pre-packed quarts. Difference type of packaging can pull the client because different client has different demands. In add-on, client besides can purchase manus packed. Customer can convey place the favorite ice pick to bask whenever they want, choose from any of the delightful spirits available in our dipping instance. Hand-packed ice pick is available in little, medium, and big.
In the decision, Jerry is a immature alumnus. Besides that, Jerry does non hold any experience to run a concern and besides merely started a new concern late. Therefore, must give some advice to Jerry on how to beef up of his concern and besides must allow Jerry understand the concern public presentation.
2.2 Strength and Weaknesses
2.2.1 The Strength of Jerry ‘s Ice-cream House
First, the strength of Jerry ‘s ice-cream house is has more than 100 spirits of ice-cream in the library include permanent, rotators, sherberts, sorbets/ices, no sugar added, lighter side, and low fat ice-cream. There are so many picks let the client choose their spirit and it can besides fulfill the client demands. Therefore, client does non experience weary and still got a batch of flavour provide to the client.
Besides that, the strength of Jerry ice-cream house is supplying several services for different age group client. Jerry ‘s ice-cream house focal point client scope is really widely, it includes kids, adolescent, grownups, and old people. This is because, Jerry want everyone besides can bask it.
In add-on, the strength of Jerry ‘s ice-cream house is it has lower monetary value of the merchandise that provide. Compare with other store, the merchandise of Jerry ‘s ice-cream house is cheaper than other. For illustration, Haagen-Dazs besides provide ice-cream but the ice-cream is really expensive. Therefore, non all clients have ability to buy their merchandise. Just merely the high category people can bask it
2.2.2 The Failings of Jerry ‘s Ice-cream House
Besides the strength, Jerry ice-cream house besides have their failing. The most of import is the capital in the concern. Capital is in order to bring forth certain goods or in order to make and keep the proper environment for offering certain services. New concerns frequently find themselves in working capital crunches. Without equal working capital, they can non construct stock list or purchase natural stuffs. As a consequence, the company can non sell plenty merchandises to bring forth the net incomes needed to rectify this state of affairs. This is highly unsafe and can be destabilising for the company or even do it to fall in. With a capital loan working for you, you can do certain that your concern gets a strong start.
Another failing is Jerry ‘s ice-cream house does non hold making advertisement to advance the concern. Ad is the most of import portion in the concern. The ground is, advertisement is an advantageous representation of merchandise to do consumers, clients and general populace know of the merchandise. It lets the possible purchasers, general populace and terminal users to be familiar with the trade names.
In the decision, the strength of a concern organisation refers to the capacity by which an organisation can derive advantage over its rivals. Environmental analysis helps the concern organisation to happen out its strength. After that, it can do the policies and programs to spread out the concern and to take advantages over rivals. In add-on, harmonizing to Trehan, M. et Al. ( n.p. ) , page 24, said that “ the failing of a house refers to restriction of a concern house. It consequences in important disadvantages for a house in comparing to its rivals ” . The environment analysis helps is to happen out the failings of the concern. For future growing and enlargement of the concern, decision-making should do programs to get the better of the failings.
2.3 Plan of Action
Plan of action is an order of stairss that must be taken, and the activities that besides must be performed good for a scheme to win. Therefore, the program of action can assist Jerry to better the ice-cream house.
2.3.1 Overcome the Failings
The strength of Jerry ‘s ice-cream house is the merchandises that selling the lower monetary value to the client. Therefore, Jerry must keep this strength because the monetary value as a competitory advantage. A competitory advantage is an advantage over rivals gained by offering clients greater value, either by agencies of lower monetary values or supplying greater benefits and service that justifies higher monetary values.
Overcome the failings of Jerry ‘s ice-cream house about the advertizement, it can make a web site to publicize the concern. There has many advantages utilizing web site to publicize the concern. It has inexpensive market research, usage characteristics on your web site such as visitant polls, on-line studies and the website statistics to understand what the clients like more and how they feel about certain facets of the concern to find how can better the merchandise and the manner to make concern. Besides that, it is a growing chance. This is because, a website serves as a great topographic point to mention possible investors to, to demo them what your company is approximately, what it has achieved and what it can accomplish in future.
2.4 The Ways in which the Business ‘ Existing Performance could be Maintained and Strengthened
Jerry has bought a one-week, return ticket to his vacation place in Penang. Besides that, Jerry need for aid to look into ways in which the concern ‘ bing public presentation could be maintained and besides strengthened to his concern. After aid Jerry investigate, it has few ways on how to keep and beef up Jerry ‘s concern.
2.4.1 Ways to Maintained and Strengthened
The first manner to maintained and strengthened Jerry ‘s ice-cream house concern can utilize the strategic confederations. Harmonizing to Michael, M. et Al. ( 1995 ) , page 4, reference that “ a strategic confederation links specific aspects of the concerns of two or more houses ” . Strategic confederations is partnerships between and organisation and a foreign company in which both portion resources and cognition in developing new merchandises or constructing new production installations. If Jerry ‘s ice-cream house strategic confederation with others stores, it can assist the store to increased trade name consciousness. This is because, the chance to turn market size with a partnership presents the extra chance to increase consciousness of the trade name. One of the cardinal elements of a concern ‘ success is changeless, turning trade name consciousness. Besides that, strategic confederations allow Jerry ‘s ice-cream house to make a broader audience without seting in any excess clip and capital.
In add-on, when Jerry ‘s ice-cream house face the fiscal job it besides can sharing the fiscal hazard. Enterprises can do usage of the strategic agreement to cut down Jerry ‘s ice-cream house fiscal hazard. For illustration, when two houses jointly invested with equal portion on a occupation, the greatest possible that each of them stands to lose is merely half of the entire occupation cost in instance the venture failed.
Following, is Jerry ‘s ice-cream house can turn his concern into franchise to maintained and beef up the concern. Harmonizing to Gappa, B. ( 2001 ) , said that “ franchising is a concern scheme for acquiring and maintaining clients. It is a selling system for making an image in the heads of current and future clients about how the company ‘s merchandises and services can assist them. It is a method for administering merchandises and services that satisfy client demands ” . For illustration, advertisement can be one of the biggest disbursals for any new concern. Jerry ca n’t last without effectual advertisement and besides effectual advertisement is expensive. Although Jerry ‘s ice-cream house have a good location, if the clients are unfamiliar with your concern what have to offer, they besides wo n’t come in. Franchises offer national advertisement runs that are included in the franchise fee. This is a immense advantage for Jerry ‘s concern.
In the decision, there have many ways to keep and strengthened Jerry ‘s concern. Besides that, there besides have a batch of advantages. If Jerry altering the ways to run the concern. After few months subsequently, Jerry ‘s ice-cram house can go a celebrated store in the province. And besides Jerry ‘s concern can spread out to another location or spread out globally.
3.0 Conclusion and Recommendation
After done my entrepreneurship assignment
Undertaking 2 is about the strength and the failings of Jerry ice-cream house. The strength of a concern organisation refers to the capacity by which an organisation can derive advantage over its rivals. Contrary, the failing of a house refers to restriction of a concern house. It consequences in important disadvantages for a house in comparing to its rivals.
Undertaking 4 is about the ways in which the concern ‘ bing public presentation could be maintained and strengthened. During research, there have so many ways to keep and strengthened the concern.