Entrepreneurship: The Success Story of Peter David Jones

This essay report explores the entrepreneurship journey of Peter David Jones, a successful British entrepreneur and businessman. It covers his personality traits, recognition of opportunities, creation of innovative products, and the importance of innovation in organizations. It also discusses his role as a leader and how he grew his businesses. Additionally, it highlights his contributions to the economy and society. The selected organization is Jessops Europe Limited, a well-known photographic retailer.

Entrepreneurship

Table of Contents
INTRODUCTION...........................................................................................................................1
A. About Entrepreneur: ..............................................................................................................1
B. About the Entrepreneurial Organisation.................................................................................4
C: About Contribution to the Economy and Society..................................................................6
CONCLUSION ...............................................................................................................................7
REFERENCES................................................................................................................................9

INTRODUCTION
Entrepreneurship refers to starting and developing new venture business with the motive
of gaining profit in the market. The entrepreneur take risk of uncertainty in the market and build
their business and gain profit and wealth. An entrepreneur is the person that starts or own a
business with the aim of gaining profit and wealth in the market. In this essay report the
entrepreneur Peter Jones is selected who is the owner of various organisation such as Jessops,
Levi Roots, Led Letter days etc. which is well known and established British companies,
headquarter in London UK. In this essay report various points on the entrepreneurship is covered
such as the personality threats of the entrepreneurs, how an entrepreneur analyse the
opportunities in the market and make successful business organisation, what innovative products
the respected entrepreneur introduced in the market. Further, this also includes that how the
entrepreneur build the business and make it successful in order to gain more profit and success.
The various role and leadership entrepreneur plays in order to gain success in the market.
Evaluation of how the entrepreneur contribute in the economy of the nation. Evaluation of the
survival issues faced by the organization in the global pandemic. In the last recommendations for
the respective organisation.
A. About Entrepreneur:
Peter David Jones is a British businessman, entrepreneur and personality in reality
television which have interest in television, media, retail, property, mobile phones. He lastly
work on two television BBC shows and television series. In 2009, he was appointed as
Commander of the Order of the British Empire. Jones grew up in Maidenhead and he completed
is schooling from Desborough School. When he was 16 years old he set up his own branded
computers. He had lost of about $200000 after selling his business to IBM. In an interview he
said his business of computer fails in early 20's which leads to situation has he have to sold his
house which is of three bedroom in Bray and by this he move back to his parents. After this he
join Siemens Nixdorf.
Personality Traits of Peter David Jones:
Peter David Jones is a British entrepreneur which have interest in media, property and
technology. The personality trait of entrepreneur are discuss below:
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 There must be a vision: Vision is considered as destination. It is work as map which
helps to reach on destination which helps in achievement of results and outcome. It plays
important role which works as providing direction for attainment of goals. Use of influence: Business is grow with help of business partners. These individual
recognise importance for filling weaknesses and gaps as their own skills or idea of
business. This helps in finding parts when there is puzzling which creates best chance of
success. Building of confidence: Jones believe as when an individual have not confidence in
themselves. This will gain by skills, knowledge and experience. This can be done by
change in perception point of view which is done by feedback mechanism. Make commitment: He believes as when there is commitment on something that must be
follow which helps in successful of goals. This can be done by making sacrificing and
preparation of work hard. Take action: There is a bridge between vision and results which is termed as action. It
mainly involves figuring out how company is see themselves in future and where it is
stand. When there is no actions there is no outcome. Aims for results: Results leads to happening of tycoons. When something is planned that
must become success which leads to multiplied and scaled up in trait of entrepreneur. Be caring: Entrepreneur have ability to remember people as they are lifeblood of every
business. So they have to make personal and business relationship that must be cherished.
 Use of intuition: An entrepreneur must have to listen instincts which helps in protecting
poor decision making and guide for work on right path.
Opportunity recognise by Peter David Jones:
Jones owned Jessops Group Limited when there is solvency situation so he see as
opportunity for himself by bought assets for related companies. This company is a British
photographic retailing organisation. Many opportunities are recognise by Entrepreneur which are
considered as he evaluate ideas and acted on them. He also see idea that have economic value in
potential manner. This leads to creation of profit by recognise the customers that they are willing
to pay the amount of products. It can be done by introducing innovative and new ideas which are
attractive & desirable for consumers. Jones recognise opportunities by searching at market
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segment. This can be done by social, economic and technological trends. He also creates
opportunities by engage himself with others by bouncing ideas which leads solve the problems.
Creation of Opportunity by Peter David Jones:
He is consider as successful entrepreneur as he creates opportunities by emphasis on
external circumstances which have control on focusing on the activities. There must be empower
and open minded which creates opportunities for next level. As he is investing in multiple
business which helps in creating opportunities for himself which is helpful in attainment of
growth of business.
Innovative products/services which is introduced in market by Peter David Jones:
In Australian department there is first David Jones which is innovative store in
Wellington, New Zealand. He also merged its customer growth and innovation by takes over
marketing and financial services. He also take over business as retail limited as Jessops Europe
Limited. This firm mainly deals photographic and video operating company. He also offers full
range of personal gifting products and digital printing solutions and products on both offline and
online access. This company ensures customers by making images in creative manner. This is
only retailing company which is promoting creativity and education at all ages all over digital
space imaging.
Importance of innovation in organisation:
Innovation is define as a process that organisation or individual undertakes for
conceptualise brand new processes, products, ideas and approaches of existing products.
Innovation is very important in organisation some points are discussed below: Creative development: By qualities of innovation it is essential for new company in
today's scenario. When there is creativity in their products by developing new products
which attracts consumers. This will create opportunity for business. Continuous improvement: By innovation it gives sustainability in organisation which is
done by continual improvement by rebranding & repackaging. This is a responsibility of
every manager for recognize need of growth and innovate which helps in increasing
creativity. Reinforce your brand: As development in branding is popular in development of
organisational leadership. In this process their must be revealing of information which
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helps leader to learn in innovative manner. This is considered as important factor as it is
main driver for success of business. Responding to competition and trends: With help of innovation there is existence of new
opportunities which is helpful in attracting or responding in near future. Company which
is successful will respond to needs and wants of customers that must be fulfilled.
 Having unique selling point: When there is innovation in products there must be
addition of some value to products or services. When this is used in right manner it leads
to attraction of customers and creation of brand image of company.
From view point of Peter David Jones innovation in their company leads to attraction of
customers and creation of values which helps in attainment of goals and objectives.
B. About the Entrepreneurial Organisation.
The essay report is about the successful entrepreneur Peter Jones, he is an British
entrepreneur, businessman, and reality television personality. He has set up business in which he
made personal computers in his own brand when he was 16 years old, However he lost approx
£200,000 after deciding to sell it to IBM. The business of Peter Jones is was failed when he was in
his only 19 years old. After that he started many businesses such as on 1 july, 2005, Jones
founded The Peter Jones Foundation, a charity to support the education of young women in the
country. In this essay report the business Jessops Europe Limited started by Petter Jones is
selected. Company is Photographic retailer and expanded to major towns and cities. The
organization is run by peter and the success and growth of the company is because of the good
leadership and the marketing strategies used by the respected and successful entrepreneur.
The role of entrepreneur as a leader and what it takes to become a successful leader:
 Risk Taker: In an organization the biggest role played by the entrepreneur is taking the
risk of starting new venture firm by the high level of investment. The individual is
responsible for the capital he invest in the business and the failure of that business.
Peter Jones plays effective role in taking the various risks in his business career and
development of the particular business successful by facing all the challenges in the
market. Risk in the business is uncertain and unpredictable by the business person and
it make difficult for the entrepreneur to take effective decision so that they can grab
better opportunities for the business.
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 Initiator: The entrepreneur is the person who is willing to make an challenge in the
market by starting new business venture. An business person make effective efforts for
creating a business by their own that could help the to make proper success and growth
in the market. Sir Petter Jones is also an great initiator in creating a new business in the
market he make an initiative in introducing many start-ups in the market and give his
best effort to make that businesses successful and established in the market. Thus, the
entrepreneur plays effective role of initiator and make an challenges in the market.
 Reduce risk: A business person always focus on making less risk in their business that
help them in proper management of the risk in the business. Entrepreneur helps to
analyse the market potential of the company and reduce the risk of uncertainty in their
business. Petter Jones always focus on the future possibilities of the risk in their
businesses that help them to reduce the risk of uncertainty and failure in the market. He
takes his business of Jessops Europe Limited on the high level of growth by reducing
the risk of uncertainty in the market.
 Creates Jobs: A successful entrepreneur helps the market and the country to create
better employment opportunities for the individuals in the market. So that the people
around the organization also can gain the benefits and advantages of the organization.
Entrepreneur helps the country to provide the opportunities to the young generation by
giving them jobs in their company. In the context of Petter Jones he gives various
opportunities in their businesses to the people by giving them jobs in their business
organisation. So that they can fulfil their social responsibilities in the market.
How did entrepreneur grow the business:
entrepreneur used many marketing strategies to make their business successful. They take
right decision on the right time so that the business can grow in the market. Below is the detail
explanation of how entrepreneur grow the business.
 Research the competition: It is important for every entrepreneur to get proper
information about with whom they are competing in the market. It make them aware
about the product and services they are offering to their customers so that they can get
successful and profitable in the market. In the context of the Petter Jones, he always
make an effective effort to research about what their competitor is doing and what are
the weak points of them so that they can gain competitive advantages.
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 Creates customer loyalty: To gain customer loyalty in the market is very important in
order to gain competitive advantages in the market and become successful. Entrepreneur
can use various strategies in the market for gaining the customers loyalty for the firm.
They should give effective product and services so that they can increase loyal customer
base. Petter Jones always thinks about the customer's loyalty in the market and provide
the best quality of the product and service in the market.
Thus, there are various steps that is taken by the Patter Jones in order to become successful
entrepreneur.
C: About Contribution to the Economy and Society
Entrepreneur are the persons who wants to make an positive impact on the society by
making effective changes that helps in economy and society. The product and services they offer
in the country help them to make effective contribution in the economy and society. There are
several impact of the on the society and economy is mentioned below:
 Contributes to gross national products: An effective entrepreneur helps country to
increase the level of gross national products. GNP refers to the total number of product in
the country, the more products country has the more level of GNP will increase in the
country. The skilled and talented entrepreneur helps the country to increase the level of
GNP so that it could help them in increase the level of national economy. Petter Jones is
an successful entrepreneur that introduce verity of products in the market with the
different business firms so that he can help the country to increase its GNP and can grow
national economy. It also help the population of the country by providing them many
product and services in the market.
 International trends: The entrepreneur also helps the country by increase the international
treads in the market. It could help the in increasing the level of economy in the market
and also they are offering the variety of products so it can help them to increase the level
of economy and growth of the country. International trends also make strong economy of
the respective country. Petter Jones also help the in increasing the international trends in
the market. He is offering various products and services in the international market and it
helps in the growth of economy and social life of the people. Thus, an successful
entrepreneur increase the level of international trends and export business in the country
so that country can grow effectively.
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 Diversity in products and services: There are numbers of products and services offer by
the entrepreneurs in the country that help the local population of the country to have
various products and services offer by the company. It help the customers to have more
options in the market that can help the to increase the level of satisfaction from the those
products and services. Petter Jones also offers diversify products in the market that help
the customers to increasing level of satisfaction form the various offerings. Thus,
entrepreneur helps the customers and country to have more products and services in the
market.
 Employment opportunities: New business provides new opportunities to the individuals
in country. Entrepreneur gives employment to the individuals in the country and help
them to increase the level of their living slandered. Petter Jones also gives the
employment opportunities to the individuals in the country. By the various businesses he
is running it can help the individual of organization have growth and slander of living
 Encourages better standard of living: Entrepreneur provide better standard of living to the
individual in the country it helps the country to increase its growth and standard of living
of citizens in country. entrepreneurs helps in wealth maximization by providing
employment to the individuals and increasing the economy growth in country. Peter
Jones also provide better standard of living to the public and employees of his
organisation by giving them better product and services and employment in the
organization. thus, entrepreneur to provide better standard of living to the country and its
population by giving them a better quality of products and services in the market and
providing them employment to the individual in the country.
 Expanding exports: It refers to the increasing level of export in international market it
helps the country increase the level of the economy growth of the country entrepreneurs
help the country by exporting its business and multinational countries and provide more
growth to the economy of country. they also provide better quality product to the
population of the country which helps them to increase their satisfaction level from the
organisation. Peter Jones help the country in the development by expanding its
businesses in worldwide there are many opportunity for the country which is provided by
the entrepreneur in the country its help in increase the revenue and profitability by
increasing the business in multinational organisations and different countries. Thus, the
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entrepreneurs helps in both development of country and social growth of the citizen in the
country. it is more beneficial for country growth which can increase by the entrepreneur
in the country
Major challenges for entrepreneur due to pandemic situation in our all world
There are there are many challenges for the entrepreneurship in the world due to the covid
situation in global. business persons face many challenges in their business below is the detailed
examination of those challenges faced by the entrepreneurs.
 Maintaining the channel of communication during the crisis: It is very important for
the business person to maintaining the communication channel with their employees and
staff and suppliers. In order to make effective management of communication system
with their employees and staff. There are various problems are faced by the business
person due to pandemic situation in overall world. entrepreneurs are facing these
challenges in their organisation. ineffective communication leads to misunderstanding in
the organisation that could cause low productivity and unstable growth of business.
because in covid-19 situation employees are working from home and they are not able to
connect with their mentors in the organisation. its difficult for them to handle all the work
by there own so deal with this those communication challenges company can build their
own communication channel on their daily basis. so that employees feels motivated and
encourage for the work they are doing. Peter Jones could also face this challenge of poor
communication system in their organisation to deal with this challenge they can manage
communication system with all their employees and provide them proper guidance and
through the mentors of the organisation it will help the employees to manage their work
properly.
 Managing funding and investment: low funding and investment can cause poor
productivity in the organisation. the poor quality of product and services due to corona
virus pandemic where. entrepreneurs are facing this challenges because investors of the
organisation are facing economic challenges in their business. Stakeholders are also
facing those challenges in their business because of low productivity and low profit in the
market. corona virus also cause economic crisis in the country decreasing economy of the
country is also affecting the funding and investment of investors of the organisation.
Peter Jones could also face this challenge in corona virus pandemic and the productivity
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of the business could be affected by the corona virus and low funding in the organisation
so there are many challenges for the antiphon yours due to the situation of global
pandemic.
CONCLUSION
From the above giving information it can be summarise that entrepreneurship helps in
stable growth of the country. it is also necessary for the individuals of the country there are
various skills and abilities of entrepreneurs that helps in development of economy and social
growth of the country. entrepreneurs use various opportunities to make their business grow and
increase their productivity. they also focus on the external factors of the market that have an
impact on their business. Innovation and development is very important for the organisation to
maintain the growth of the organisation. Peter Jones use various strategies and effective decision
making that helps him to make a successful business and their organisation. that helps him to
become a successful entrepreneur he grabbed many opportunities in his career that make him
successful leader and entrepreneur. there are various factors that helps him to become a
successful entrepreneur in the country such as become a risk taker and any initiator in the
business he also research for the various information that helps him reduce the risk of uncertainty
in the business. to make his business grow he done research about the competition in the market
that helps him to get successful. but there are many challenges for entrepreneurs in the market
due to corona virus pandemic that cause them poor productivity and profitability in the market.
Recommendations:
Peter Johns is a successful entrepreneur and businessman that achieve goals and
objective in his business. He maintain many business operations in his career also he runs many
businesses in current life. there are various factors that can affect the business of respective
organisation. to deal with those challenges Peter Jones can use various marketing strategies. that
can help him to increase its market share it is very necessary for him to have a perfect marketing
strategy that can cause him better understanding of market and competition in the market. to deal
with these challenges He can also research about the various competitive in the market so that he
can manage his productivity and service according to his competition and gain competitive
edges. in the market Peter Jones can also start innovative and creative business by using various
Technologies in his organisation it will help him to increase the customer loyalty and
satisfaction. he can also hire talented and skilled employees for their business to maintain the
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growth and productivity of the business. Thus, organisation can grab many opportunity by using
various marketing strategies and innovative technology in his organisation and get more success
in the market
REFERENCES
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