ENTREPRENEURSHIP CASE STUDY

Which of these applicants do you think comes closest to having the mindset of an idle
entrepreneurship? Why?
According to the Jane’s Evaluation case of entrepreneurship states or offers studying, one that
believe that Richard Trumph (owner of a ten-minute oil changed & lube operations) is an ideal
entrepreneur among all of three of them. As we all know that an entrepreneur is an individual
who coms or creates a new business, bearing most of the risk and enjoying most of the rewards
and this is also the process of setting up the business and as per the Jane’s evaluation Richard
Trumph qualities is high as we have compared to Robin Wood and Phill Hartack and in this one
have noticed that the Richard Trumph having highly ability to asses and initiate things
independently & he is having to art of turning new and unique ideas and implementation of
that creativity and he is good foresight and one most important thing that Richard’s tolerance
for ambiguity is medium level , on the other hand if we talk about Robin Wood his level of
Tolerance for ambiguity is low.
So, according to me Richard Trumph is an ideal entrepreneur on behalf of these Jane’s
evaluation.

To which applicant would you recommend that the bank lend money? (Assume that each has
asked for a loan of $15000). Defend your answer.
I would highly recommend Richard Trumph name for loan because as per Jane’s Evaluation he
is the best and suitable entrepreneur to lend money from bank in the form of loan.
Main reason to give loan to Richard is that his business idea is basically providing a ten- minute
operation service in automobile service sector and in this sector and in this sector, there are lot
of competitors in the market. But customer’s preference will be the one who gave bet
affordable price or good service. Richard is doing great job in this sector and fulfilling all the
necessary and basic needs of the customers. He also knows and value the time from that basis
he gives or trying to provide the service in only ten minutes.
So, the way he is doing the business is such an ideal thing because of his value of the time of
each and every customer and this is very unique thing he is doing in this sector with an
innovative idea
Can these three entrepreneurs do anything to improve their entrepreneurial profile and their
chance for success? Be specific in your answer.
Entrepreneur is certainty have and states that you have to expertise in your field. Any
entrepreneur is not like that what the plan they have will run for long – term, because in every
situation or aspect they have to make the changes according to the need and demand of the
customers in the market. They work according to that.

According to Jane’s evaluation, these three entrepreneurs has different qualities in their field,
but we cannot say that they don’t have any issue or problem in their field of work or to change
or improve their goods and services. Every entrepreneur like Robin Wood, Richard Trumph &
Phill Hartack wants to make changes or improve them on daily basis because I fell that Robin
Wood, owner of a small delicatessen. He will do a little bit changes in his business to improve
his qualities and services that he is providing to the customers or in his tolerance for ambiguity
level because this is very low. He has to make few changes in that because of he is providing
service in the food industry itself & we have to handle or follow up the customer’s need and
demand what they were indeed of that. So, I think he should improve his tolerance for
ambiguity and creativity of innovative idea for medium level to the high level. If he does all
these changes he will definitely survive or achieve his goal by improving all these.

In Richard Trump’s case we have studied that he is perfect in every aspect, but if he really
wants to improve his performance because he believes or value of time of his customers. So, I
just say that he should improve his persistent problems solving level medium to high level and
same with tolerance for ambiguity. If he will do all these changes than it will work like a magoc
and give him good and effective, result according to his previous performance.
In Phill Hartack case, owner of the book store that specializes the best sellers and cookbooks
because in this sector every entrepreneur has to make changes or improve in his innovative
ideas and in his creativity also because it affects or attracts more customers. In this sector there
were lot of competitors and there are homogenous products and the services. These are some
ideas that would really help in improving the entrepreneurial profile and their change for
success.
If all these three entrepreneurs will implement all in their business will give them best results.

SUBMITTED BY- Samriddhi Tripathi

MBA-2nd Semester