Fall

08
2011

Fall

Mini Assignment - 2 (Fall 2011-10-14) The Simply Sweet Taste of Success Case
Question 1 What entrepreneurial traits and personal characteristics do Heather White and Lori Joyce display in the case?

INTRODUCTION TO GLOBAL MANAGEMENT (CGMS 200 110)

SABBIR TAHA ID 500482029 | THE CHANG SCHOOL | RYERSON UNIVERSITY

1.

What entrepreneurial traits and personal characteristics do Heather White and Lori Joyce display in the case? While looking into the entrepreneurial traits, it was really interesting to see presence of the listed qualities within the personal characteristics of White and Joyce. Almost all the qualities were notably visible within the young entrepreneurs of Vancouver. These two risk-takers are very much confident, determined, flexible and adjustable. White and Joyce took the risk of opening a small bakery and felt responsible for introducing a new product, their long time dream for a venture, which demonstrated their foremost quality of entrepreneurship. Typical personality traits and characteristics of entrepreneurs include the followings: Internal locus of control: Entrepreneurs believe that they are in control of their own destiny; they are selfdirecting and like autonomy. White and Joyce also came out of regular job market, left corporate jobs and initiated their cupcake venture from their believe of controlling own destiny.

High energy level: Entrepreneurs are persistent, hard working, and willing to exert extraordinary efforts to succeed. Both of them showed their had working skills. Both of them are very much hardworking and the first year they had real tough time. They even couldnt get return of their investment during the first year and sometime thought to quit the venture. But again their painstaking effort took them on the road of success.

High need for achievement: Entrepreneurs are motivated to accomplish challenging goals; they thrive on performance feedback. They were highly motivated to accomplish their targets. The women were very much open to advice. They searched feedback, help and support from all possible sources they were connected.

Tolerance for ambiguity: Entrepreneurs are risk takers; they tolerate situations with high degrees of uncertainty. Both the entrepreneurs were not certain but they leased a space for a new venture. They took the risk even in high degrees of uncertainty and left the corporate world to become business initiator.

Selfconfidence: Entrepreneurs feel competent, believe in themselves, and are willing to make decisions. Back in 2001, while stand on a queue at popular Magnolia Bakery in New

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York, they thought that this was what they should do. They believed themselves and took the right decision. They didnt give up, which took the to the right direction. Passion and action orientation: Entrepreneurs try to act ahead of problems; they want to get things done and not waste valuable time. Their passion and action orientation brought success for them. While developing their concept and the brand they did lots of research works on bakery business, they set up contracts with all stakeholders, and hired the support workers, as they needed.

Selfreliance and desire for independence: Entrepreneurs want independence; they are selfreliant; they want to be their own bosses, not work for others. They had good corporate job engagement in New Work after they have graduated, but their self-reliance made them adamant to reach their goal, to be their own boss. Once they realized that ultimately they wouldn't be satisfied unless they had their own company.

Flexibility: Entrepreneurs are willing to admit problems and errors, and are willing to change a course of action when plans aren't working. This particular quality trait was one of their strongest points of entrepreneurship. They had lots of research works, hired bakery experts, highly concentrated to meet the taste requirements of consumers. They were standing in front of the customers and asked for feedback, and evolved the recipes constantly since they already came to know that the customer determines your success.

They were clear where their talent was, not the baking job. They learned not to be the bakers, but to hire bakers. They concentrated in developing and marketing the business.

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Bibliography
1.

Schermerhorn, John. Management. second. Canada: John Wi l e y & S o n s , 2 0 11 . P r i n t .

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