Bus 200
BUS 200 Small Business Management
September 6, 2014
Assignment #1 - Read Case 1 on page 645 and answer questions 1-5 1) How did Hennessy’s background prepare him for starting a business? What entrepreneurial qualities does he embody?
For being a professional worker who always need clean clothes and with no time to do laundry by himself, I assume that those necessities made him start to think about to starting his own business.
Hennessy had at the time commitment and determination, leadership, opportunity obsession and motivation to excel.
2) What were Hennessy’s entrepreneurial motivations for founding Dash Locker?
First of all Personal Fulfillment. For sure, the second was Personal Satisfaction. The Independence was a consequence and further Financial Rewards.
3) What type of entrepreneurial opportunity did Hennessy identify, and how did he capitalize on those opportunities?
Economically attractive and timely opportunity based on the hard-working New Yorkers necessities of having dry-cleaning to serve them anytime, anywhere with a reasonable price.
4) Describe Dash Locker’s growth potential.
The business maintains strong growth potential, as lockers have the potential to be installed anywhere, considering for example, apartment buildings, gyms, and parking garages.
5) Describe Dash Locker’s competitive advantage.
Services like shoe shining and delivery are some competitive advantages from Dash Locker. Also, its social mission to employ green, earth-friendly technology in this operation count a lot.
September 6, 2014
Assignment #1 - Read Case 1 on page 645 and answer questions 1-5 1) How did Hennessy’s background prepare him for starting a business? What entrepreneurial qualities does he embody?
For being a professional worker who always need clean clothes and with no time to do laundry by himself, I assume that those necessities made him start to think about to starting his own business.
Hennessy had at the time commitment and determination, leadership, opportunity obsession and motivation to excel.
2) What were Hennessy’s entrepreneurial motivations for founding Dash Locker?
First of all Personal Fulfillment. For sure, the second was Personal Satisfaction. The Independence was a consequence and further Financial Rewards.
3) What type of entrepreneurial opportunity did Hennessy identify, and how did he capitalize on those opportunities?
Economically attractive and timely opportunity based on the hard-working New Yorkers necessities of having dry-cleaning to serve them anytime, anywhere with a reasonable price.
4) Describe Dash Locker’s growth potential.
The business maintains strong growth potential, as lockers have the potential to be installed anywhere, considering for example, apartment buildings, gyms, and parking garages.
5) Describe Dash Locker’s competitive advantage.
Services like shoe shining and delivery are some competitive advantages from Dash Locker. Also, its social mission to employ green, earth-friendly technology in this operation count a lot.