Discussion #3: in this assignment, please find an entrepreneur you are interested and discuss the following questions:
Who is the entrepreneur? (Insert a link to the article / company website where you find the information)
what is his/her background/experience before becoming an entrepreneur?
what company/product/service, the person create/provide?
what were the challenges when they first open business?
what do you like most about about the entrepreneur and the product/service provided?
What can you suggest to the company to get better or expand to different market?
If you have your own business, please share your story for extra credit.
Sample from a former Student:
Who is the entrepreneur? (Insert a link to the article/company website where you find the information)
His name is Li Ka-Shing. He is a Hong Kong business investor and business magnate, and philanthropist. Li was one of the wealthiest people in Asia, with an estimated net worth of US $33.8 billion. He was the chairman of the board for CK Hutchison Holdings; through it, he was the world’s leading port investor, developer, and operator, and the largest health and beauty retailer in Asia and Europe. Li was one of the most influential entrepreneurs in Asia.
What is his/her background/experience before becoming an entrepreneur?
He has a fantastic success story. He was forced to drop out of school when he was sixteenth for supporting his family. For almost four years during the Japanese occupation of Hong Kong, he sent 90% of his pay to his mother. Perhaps his early success as a breadwinner taught him the liberal values that have made him famous for his philanthropy today.
What company/product/service, the person create/provide?
Li showed promise as a leader and visionary when he opened his first factory in 1950, at the age of 22. The company, Cheung Kong industries, manufactured plastic flowers. He anticipated that plastics would become a booming industry, and he was right.
What were the challenges when they first open the business?
The most significant problem was lack of funding. Applying for loans from banks and finding investors would be the most challenges when he opens the factory.
What do you like most about the entrepreneur and the product/service provided?
I think the most I like about him is the sprite he was spreading. He said that it doesn’t matter how strong or capable you are; if you don’t have a big heart, you will not succeed. Li had made a significant contribution to Hong Kong, and he started with only $50,000 to a willingness to learn the latest industry trends. Although he dropped out of school at very young and didn’t get a college degree, he is keeping the habit of reading and learning.
What can you suggest to the company to get better or expand to the different market?
I think Li could put more focus on providing the opportunities to young entrepreneurs, and sharing his knowledge of how to start up a company and do business with the youths.
Reference:
http://www.businessinsider.com/heres-how-li-ka-shing-became-the-richest-man-in-hong-kong-2015-6/#-ka-shing-was-saddled-with-financial-responsibility-from-a-young-age-after-his-family-fled-to-hong-kong-from-southern-china-during-wwii-his-father-died-of-tuberculosis-he-had-to-leave-school-before-the-age-of-16-to-work-in-a-factory-1 (Links to an external site.)Links to an external site.
