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Investment Enterp

Entrepreneurs play a crucial role in driving economic growth through innovation, job creation, and market expansion. Factors such as corporate downsizing, technological advancements, and cultural shifts are fueling the rise of entrepreneurship globally. Successful entrepreneurs, like Peggy Day and Jeanne Wagster, demonstrate key traits such as creativity and resilience while facing challenges like limited capital and the need for market validation.

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Malack Chagwa
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364 views2 pages

Investment Enterp

Entrepreneurs play a crucial role in driving economic growth through innovation, job creation, and market expansion. Factors such as corporate downsizing, technological advancements, and cultural shifts are fueling the rise of entrepreneurship globally. Successful entrepreneurs, like Peggy Day and Jeanne Wagster, demonstrate key traits such as creativity and resilience while facing challenges like limited capital and the need for market validation.

Uploaded by

Malack Chagwa
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

1.

0 THE WORLD OF THE ENTREPRENEUR

1.1 Role of the Entrepreneur in Business Today


Entrepreneurs drive global economic growth by:

 Innovation: Introducing new products/services (e.g., Bill Trenchard’s tech startups).

 Job Creation: Small businesses account for 60-80% of net new jobs in the U.S.

 Competitiveness: Agile startups outmaneuver large corporations (e.g., Psion PLC in


palmtop computers).

 Market Expansion: Opening foreign markets and leveraging technology (e.g., Peggy
Jean’s Pies’ web sales).

Key Quote: “Entrepreneurs are changing the world while giants study the consequences.” —
Howard Stevenson, Harvard.

1.2 Factors Driving Entrepreneurship Development

 Corporate Downsizing: Layoffs (e.g., Bill Trenchard’s father at Sony) push


professionals toward self-employment.

 Technological Advancements: Low-cost digital tools enable rapid scaling (e.g., Jump
Networks’ web-based services).

 Cultural Shift: Younger generations (Gen X) view entrepreneurship as safer than


corporate jobs.

 Global Trends: Post-communist economies (e.g., China, Vietnam) now embrace


private enterprise.

Statistic: 8.5% of U.S. adults are starting businesses vs. 1.6% in Japan (Global
Entrepreneurship Monitor).

2.0 PARADISE IN A PAN

2.1 Entrepreneurial Traits of Peggy Day and Jeanne Wagster

 Creativity: Invented “baby pies” to differentiate their product.

 Resilience: Worked 36-hour shifts during peak demand.

 Customer-Centric: Delivered pies personally and fulfilled rush orders.

 Risk-Taking: Invested savings ($1,000) with no guaranteed success.

2.2 Advantages at Launch


 Low Barriers to Entry: Minimal startup costs (used equipment, home-based).

 Market Validation: Surveyed 100 people to confirm demand.

 Community Ties: Church network provided initial customer base.

2.3 Motivations, Obstacles, and Lessons

 2.3.1 Motivation: Passion for baking + desire for autonomy.

 2.3.2 Obstacles: Limited capital, grueling hours, scaling production.

 2.3.3 Lessons:

o Start small, validate demand (e.g., free samples → paid orders).

o Exceptional service builds loyalty (e.g., home deliveries).

o Innovate continuously (e.g., baby pies, web sales).

Key Takeaways

1. Entrepreneurship = Economic Engine: Combines innovation, job creation, and


adaptability.

2. Success Factors: Traits (resilience, creativity) + market validation + customer focus.

3. Global Relevance: From U.S. tech startups to Vietnamese small businesses,


entrepreneurship transcends borders.

Source References:

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