Question

ENTREPRENEURSHIP, LUCK OR PERSISTENCE? When Deepak Joshi was 18 years old, he sampled ice cream at a store and thought that he could make it better. He made his own recipe and began selling ice cream bars, cones and cups in his hometown Belgaum People began asking him for more. Deepak got himself trained at Central Food Technological Research Institute (CFTRI), Mysore and developed skills to prepare ice creams of different flavours and compositions. Using meager profits and his mother's kitchen, Deepak Joshi began making large batches of ice creams. He then designed his own wrappers and developed a commission system for friends who sold ice creams at several schools. Business was so good that it became an obsession. Deepak worked after college, weekends, and holidays, aside from a brief period when the health department suspended his operations until he obtained proper permits to make ice creams. He made different types of ice creams by trying his own methods until he graduated from college. At first, he could meet the demand without purchasing special equipments or sacrificing other activities, but when he began providing ice creams for college fundraising events and fin fairs, demand exceeded capacity, and Deepak started buying professional equipment, hiring helpers, and purchasing bulk supplies. Looking back, Deepak recalled the obsession, the long hours, and the drive to learn about the business. Deepak set about placing orders with local stores and developing contacts with dozens of schools, colleges, caterers, hotels, and civic organizations. His business soon consumed his entire family and closest friends. He registered the company and set up an ice-cream parlour. During the first month, he had 18,000 onders, and by the time he graduated, Deepak was distributing specialty ice creams to retail stores in three states.At the age of 26, Deepak repositioned his company as a major distributor of specialty ice creams and began planning a chain of upscale ice-cream parlous, which would complement his current ice cream manufacturing and distribution system. When he paused to think about his plans, he realized that to launch a regional or national chain would mean major changes in his organization. He and his family could not handle all the responsibilities, and the nature of Deepak's ice-cream business would change. Although the idea of pursuing a major business was exciting. Deepak could not help feeling apprehensive. Reflecting upon his business, Deepak realized that many people considered his success to be no more than the luck of a personable young man who made good ice creams and had accidentally stumbled upon a few good markets. In fact, he had worked extremely hard to attract clients. Most of his customers had not been comfortable buying from a young college student, and customers seldom took him seriously until they had dealt with him for a long time. Winning over customers had always been a challenge to Deepak, not a roadblock, and creating unusual ice creams had been exciting He was not anxious to become a corporate manager, and although he had always worked well with others, Deepak liked being independent. Running a company would mean sacrificing his autonomy. Yet the idea of a chain of stores selling his specialty ice creams had been a dream for years. At the same time, expansion would mean financial risk, and Deepak had always avoided debt. He dealt in cash and had always carefully calculated his expenses to avoid even the slightest loss. He realized that he was at a major crossroads in his young career. The choice seemed to be whether to follow his dream and expand or to be content with his existing business Questions a 1. Identify the entrepreneurial characteristics of Deepak Joshi. How do they match the characteristics described for successful entrepreneurs? 2 Take a position regarding the decision facing Deepak. Should Deepak expand his business and open a chain of ice-cream parlours. Based on what you know about Deepak and what you believe his characteristics to be, would you say his success was due to lock or persistence ? Explain. How does luck play a role in any new venture?

Answer 1

Answer:

Welcome to Gboard clipboard, any text you copy will be saved here.Touch and hold a clip to pin it. Unpinned clips will be deleted after 1 hour.Use the edit icon to pin, add or delete clips.Touch and hold a clip to pin it. Unpinned clips will be deleted after 1 hour.Use the edit icon to pin, add or delete clips.Welcome to Gboard clipboard, any text you copy will be saved here.Touch and hold a clip to pin it. Unpinned clips will be deleted after 1 hour.Use the edit icon to pin, add or delete clips.

Explanation:

jsTouch and hold a clip to pin it. Unpinned clips will be deleted after 1 hour.Welcome to Gboard clipboard, any text you copy will be saved here.

Answer 2

Answer:

take a position regarding the decision facing Deepak should Deepak expand his business and open a chain of ice cream parlour