TMA BE322/4
Case One Study
Question 1
Buying a business can mean different things to different people and it’s less risky than starting from scratch.
Anna Bryant has a lot of reasons to buy this business. The first reason that caused her to jump at the chance to buy the business is because it already has products being produced for an existing market. The second reason is the facilities of the business are already available and she can easily adjust it through her new styles and taste. The third reason is the revenues and profits are being generated but with the economic difficulties that the business are facing it would make her negotiations to acquire it a lot more easier. There are other important factors she should have taken into consideration before buying this business. One of these factors is the location that suitable for the business which shortens the time of searching for the right location. One more factor is that the employees are already trained to work with this business; this factor shortens the time to develop a good staff. Also, Anna should take care of the factor of the relationships that have been established with banks, trade creditors and suppliers. Banks like to work with business that have been up and running that gives the option to take a loan to upgrade the business.
It may look easy to just buy an existing business but you still must have your own vision and a clear idea about the clientele you want. You may have experienced employees, available facilities, existing products and market and desirable location, but you must think about the quality and what makes your business unique.
Question 2
Entrepreneurs is the definition of success and to be successful you should have some characteristics.
Anna Bryant has some of these characteristics, the first one of them is that she loves making people look their best and enjoy it. That makes her give all of the efforts to the business and gain personal satisfaction, financial profits and life
Question 1
Buying a business can mean different things to different people and it’s less risky than starting from scratch.
Anna Bryant has a lot of reasons to buy this business. The first reason that caused her to jump at the chance to buy the business is because it already has products being produced for an existing market. The second reason is the facilities of the business are already available and she can easily adjust it through her new styles and taste. The third reason is the revenues and profits are being generated but with the economic difficulties that the business are facing it would make her negotiations to acquire it a lot more easier. There are other important factors she should have taken into consideration before buying this business. One of these factors is the location that suitable for the business which shortens the time of searching for the right location. One more factor is that the employees are already trained to work with this business; this factor shortens the time to develop a good staff. Also, Anna should take care of the factor of the relationships that have been established with banks, trade creditors and suppliers. Banks like to work with business that have been up and running that gives the option to take a loan to upgrade the business.
It may look easy to just buy an existing business but you still must have your own vision and a clear idea about the clientele you want. You may have experienced employees, available facilities, existing products and market and desirable location, but you must think about the quality and what makes your business unique.
Question 2
Entrepreneurs is the definition of success and to be successful you should have some characteristics.
Anna Bryant has some of these characteristics, the first one of them is that she loves making people look their best and enjoy it. That makes her give all of the efforts to the business and gain personal satisfaction, financial profits and life