Date:October 2, 2012
Subject:Analysis of Emma’s Parlor
Emma possesses many of the characteristics of an entrepreneur. She has a high level of energy and is a very outgoing person. She possesses internal locus of control. She believes she controls her destiny. She knew that she could walk away from her job as a nurse and figure out a way to make a living. She is very self-confident. As I just said she knew she could walk away from her job and figure out a way to make a living. Then when the thought of starting up a Victorian Tea room came she knew she could make it work. She had a need to achieve. She put in 60-70 hours a week in the beginning. She chose everything in the parlor to help it succeed. Once the business was finally growing she had the continued need to achieve and that’s when she started to blend her own Organic Teas. She continued to grow and improve and she took the business to the web. Those are some of the characteristics of an entrepreneur that Emma possesses.
Emma’s Parlor is in the success stage of business growth. The company is profitable both on the web and in the Parlor. She now employs about 20 people. Emma is in the process of deciding whether to stay involved and focusing on just the web or the tearoom. She is also considering turning the business over to an experienced restaurant manager or selling the tearoom outright. In the leading part of management at the success stage, the manager has to either learn to motivate employees or hire managers that can. In the controlling part of management at the success stage the manager needs to start implementing structured control systems.
The web-based organic tea business is in the success stage as well. It has grown to this stage faster then the tearoom. It is solidly based and profitable. It produces less revenue then the tearoom but has a higher profit margin! And as I have stated she is looking into focusing...