Renee Albertelli and Richard Rodriguez both had certain personality characteristics that assisted them to navigate the difficulties of starting a business. The first characteristic they demonstrated was their passion, enthusiasm and determination they had to launch their new business. They interest and energy they had to start their business never failed, which was the essential fuel for their important vision of starting their business.
Albertelli characteristics portray how altruistic she is; her current job allowed her to travel to different regions of the world which made her aware and realize how peoples from different parts of the world earned their living. In addition, Albertelli and Rodriguez were both risk takers as well as committed as we can see how they both cashed in their retirement plans in order to fund the initial production of the products. Question 2
Rodriguez and Albertelli’s decision to focus their marketing efforts on the artisans who made the shoes was a wise decision personally. The cause, belief and idea of their business would potentially be appealing to many consumers who share the same beliefs and values. The women’s desire to make a living and provide for their families by preparing the leather, designing and assembling each pair of the sandals was very impressive. Question 3 The management challenges that might cause Shoes with Soul to stumble would first of all be the lack of experience.
Even though Albertelli and Rodriguez are educated and are knowledgeable in their current positions of marketing and finance, they are still other areas where they are probably not familiar with as new business entrepreneurs’. There is also a possibility that they might face stiff competition with other firms that have been in the business longer. Ultimately, if the business begins to grow and develop, they will need to hire employees who will assist them in running their business. Question 4 Albertelli and Rodriguez will first and foremost have to seek advice from people or other business owners who have been in the business longer.
... liability (ii) Sleeping partner (iii) Business plan ( 6 marks) ASSIGNMENTS: ATTEMPT ALL questions. Question FIVE to be researched for TUESDAY’S ... organization. ( 17 marks) Question 2 (a) Define EACH of the management ... characteristics of a bureaucracy as specified by Weber.(8 marks) b. Discuss FOUR implications of “Weber’s bureaucracy” on today’s business ...
Secondly, competition is apparent in any kind of business and in order for Albertelli and Rodriguez to become successful they will have to make/ keep their products appealing as well as give the customers the best price. Finally, the hiring process especially of a new business takes ample time and in order for them to recruit the best qualified staff, Albertelli and Rodriguez will have to determine the number of employees they need and the costs associated with paying their employees regularly.