CASE QUESTIONS

1. Identify the entrepreneurial characteristics of Kim Merritt and how they correspond to characteristics described for successful entrepreneurs.Entrepreneurshave a great diversity of personalcharacteristics, individual traits and behaviors associated with thesuccessful lustrates toidentifythe skills/tasks/activitiestheywent through when Small capital, expert skills and creativity, Fast decision creation, extra responsive to market, Good control, Goal, Close bond to workforce, Hardworking, risk taking, good communication and networking, and Knowledge on business. From selling candy to a candy store Kim started to run her venture of Candy boutique which shows her entrepreneurial talents. After that she repositioned her Candy boutique to a major distributor of specialty candies. So, it is obvious, her initiative, knowledge, leadership qualities, uniqueness, hardworking, communication, and persistency made Kim a successful entrepreneur at her early age.2 .Take a position regarding the decision facing Kim weather to expand into a chain of stores. Explain your position in terms of personal objectives you perceive abilities.Although there is always increasing level of risk associated with corporation and Kim will have to sacrifice her autonomy, I support Kim to expand her business into a chain of stores. Kim has the competency of becoming a corporate manager as well as adequate knowledge on business along with hardworking stamina. She bred her business at early age and her dream is to give a shape of the business as a corporation through forming a regional chain with manufacturing and distribution system of her business. To make large profit, growth of the business, and sharing responsibilities Kim might consider its a good decision to expand her business rather considering financial risk and autonomy.0. Based on what you know about Kim and what you believe her characteristics to be, would you say her success was due to luck or persistence? Explain your position, and how luck plays a role in any new venture. To me, persistence was the main factor rather than luck for Kims success. Kim had 18000 orders during her first month of chocolate boutique business. Before graduating, she distributed her chocolate in retail stores of three states. She made her obsession as a challenge to improve her business, for an example, she learned about business and took initiative to develop network with local stores, schools and civic organization for placing order of her chocolate. However, attracting customer for her business was challenging for which she worked hard. She also repositioned her company in 1989 as a major distributor of specialty candies and planning for a regional change. Logically, luck favors for hard worker. For any new venture, making profit or loss is uncertain as entering into a new market is very difficult. If Kim is not determined to run her new venture efficiently, then she might not be able to build strong network with local retail and organizations and thus her business will be unsuccessful which shows unfavorable luck for her. So, it is obvious, persistency rather than luck made her successful in her new venture.