¶ … Failure in Business Ventures
Entrepreneurs, firms' success, and failure factors are a subject of extensive research over many years. It is necessary for entrepreneurs and organizations to understand both the internal and external motivational factors that may lead to success or failure of a business venture. A business in the startup level encounters various barriers and challenges. It is the task of the entrepreneur or the managing board to decide on the right moves for the success of the business. This study will use an example of two companies Siebel and eBay to analyze the various factors that determine the success or failure of a startup company.
Siebel and eBay are an example of two companies that show contrasting characteristics of handling the market area for their products and services. Siebel and eBay both ventured into their lines of business successfully, but Siebel developed various problems on its way up and finally absorbed by another company. Various factors led to the collapse of Siebel and success of eBay. The Siebel software designing company entered the market for its products when there were few competitors. Their products had a competitive advantage in terms of efficiency compared to others. This gave Siebel an opportunity to dominate the market and expand at a fast rate. Key factors that led to the failure of Siebel include an introduction of a product upgrade in the year 2001 that was difficult and complicated to use. According to Kerstetter (2003), Siebel introduction of this product reduced its reputation as many clients turned into simple competitors' products.
Although Siebel Company had a successful startup, they failed to maintain their standards and focus on customer satisfaction. The reputation of the company experienced negative publicity especially on customer satisfaction records. On the other hand, eBay had a humble startup but successfully ventured into the market for its services. Various factors led to the success of eBay Company. The company struggled to distinguish itself from its competitors in the market place by creating services that did not exist before. As an auction company that uses the internet, the firm provided education on how their systems operate in all parts of the country. This not only...
Integrating network relationships with entrenched resources, can lead to the development of organizational ability for achieving long-range business sustainability. Internal and external knowledge processes are a characteristic of organizational capabilities. Building organizational capability is reliant on the qualities of networks, tacit knowledge, collective learning, and organization of work, delivery of value, coordination of diverse skills, commitment, involvement, and flexibility within organizational structures. Similarly, firm value formation helps to build organizational
Burns (2007) indicates that the text is about that which motivates the actions and decisions of the entrepreneur, including the influence of personal social networks, family and personal background. Moreover, the text reports itself to be about the tasks of management which are associated with the entrepreneurial approach as well as how decisions are make, how risk is balanced and most essentially how there is a clear distinction between
Business Information Systems What is a Business Information System? A program involving a business information system would prepare the person who is studying the intricacies of the process to be able to oversee the efficient and proper manner in which to use computer hardware and software systems. The individual who has completed the training process in a business information system would be able to work as a computer programmer, or a
.....entrepreneur one must endure multiple hardships. These hardships define people as leaders or failures. Women in the last few decades have amidst gender inequality, started businesses. This had led to a major growth in the number of women entrepreneurs in a predominantly male-dominated area. However, while women entrepreneurship has written, the persistent inequalities and continued views of women have led to the assumption that entrepreneurship may still be gendered. Meaning,
business proposition business competition chain. Word count: 400 words B) Based idea produced question 1 part A, explain main difficulties/barriers? Word count: 400 words Question 2 A) Reflect possibility finance business. In the current context of the unstable economy, more and more people and firms have come to lose their activity and their savings. In such a context, they seek to become engaged in new opportunities, to create new business
Limitations of the Research or Gaps A Critical Analysis of the Business Judgement Rule under the Australian Corporation Law There have been many large businesses which have collapsed unexpectedly to cause irreparable damage to the investors worldwide in recent years. The most recent and larger cases are those of the fall of the mighty U.S.-based Enron International and the Australian firm, HIH Insurance. These cases shook the faith of the stakeholders
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