Question
Hi team Chegg, i need an expert in entrepreneurship to analyze the case study and answer the cortical thinking question for a thumb up and
Hi team Chegg, i need an expert in entrepreneurship to analyze the case study and answer the cortical thinking question for a thumb up and an upvote.
Case Study: Babylicious Few life-changing events come any bigger than becoming a mother or father. When Sally Preston, a former Food Technologist for Marks & Spencer, became a mum in 1995, life also took an unprecedented commercial twist. Like many parents, Sally was soon faced with the challenge of providing the 4-month-old with the food she felt happy with. Balancing the hours of preparation that home-cooked baby food involves versus the necessary, if not so palatable option of jarred baby food. Sally hit up an idea for a new business - manufacturing frozen home-made recipe baby food. In October 2001, Sallys company Babylicious was born. It is now the biggest manufacturer of frozen baby food in Europe, with its range of products available in many of the UK s leading supermarkets. But the path to this particular innovation is not an easy one. Although conceived out of a genuine need and one shared by countless parents - Sally faced something of an uphill struggle in persuading investors and other key decision-makers that this idea was a genuine market opportunity. The banks refused to support her business and business angels wanted too much equity in the business, forcing Sally to re-mortgage her home. Even when the business was up and running, there followed other challenges not least how to persuade consumers to change their consumer habits. Things went from bad to worse when someone deliberately tried to steal her businesss name, and a hoax caller spread the rumour to her retailer consumers that the business was under investigation by the Advertising Standards Authority. Operating her new business from kitchen and dining room, innovation once more came to her rescue. Sally hit upon the idea of marketing Babylicious in partnership with other baby products. Awareness of the product was raised by putting labels on nappy sacks and leaflets into baby cups. Something of a precious toddler, Babylicious now runs from its own business premises, employs 9 people. As Sally has explained, I never wanted to be a small cottage industry. Ive always had big national and international plans. I could see the global attraction of it.
Answer the Cortical Thinking Questions Below:
1. i. Explain the main source of innovation behind Sallys business idea. 10 marks
ii. Argue whether Sallys business idea was in response to a need, a problem, or a market gap. 10 marks
2. i. Explain how Sally demonstrated imagination, creativity and innovation that culminated into Babylicious company. 24 marks
3. i. What features of the external environment would you say helped or hindered Sallys startup plans? 18 marks
ii. How did she overcome the features that hindered her start-up plans? 12 marks
4. i. Give evidence whether Sally had fixed or growth mindset about her business (10 marks).
ii. Justify based on the case any 3 entrepreneurial traits demonstrated by Sally. (9 marks)
iii. Demonstrate how you would apply these traits to develop your own entrepreneurial mindset and entrepreneurial career (7 marks).
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