BA 470 WEEK 1

BA 470 WEEK 1

BA 470 Week 1,

1. Apply the Timmons entrepreneurship framework (entrepreneur-opportunity-resources) to analyze this case. Analyze and explain Kalin’s traits and how he gathered resources for his venture.

According to the theory presented by Timmons, an entrepreneur’s business does not only depend on taking risk and investing in an opportunity that may be unique or is innovative in nature.

There are three factors based on which Kalin’s idea and his work setup shall be evaluated keeping the Timmon’s model in mind (Spinelli et.al).

1. Opportunity: A product should be such that adds more value to its existence, should be in use by consumers for a long time duration and is reached to the customer’s end on time. Kalvin did seek an opportunity in this business of cheese import as there were many Bulgarian residents in U.S. that wanted to have their homeland product for use.

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1. Resources: As Kalin was an early graduate and already in debts, he didn’t had much of capital that can be invested in the business. He used his contacts and family relations to borrow money. Also, for the storage purposes, first he rent out a small space and later shared a refrigerated area with a sausage shop keeper. Later he bought a van, but primarily his car was used for the transport means.

1. Team: To run an enterprise, a team of workers is needed. Although he works solely, he had his girlfriend work along. Furthermore, there were times where his friends were at his doorstep to help him repack the cheese at the time of crisis. As the resources are limited, Kalin doesn’t have enough money to hire employees that may work under his control.

Kalin was a young graduate who wanted to be an entrepre...........

BA 470 WEEK 1