Report about the Entrepreneurship 2022
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ENTREPRENEURSHIP
[Type the document subtitle]
8/14/2019
Student name
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ENTREPRENEURSHIP
[Type the document subtitle]
8/14/2019
Student name
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ENTREPRENEURSHIP 1
Contents
Introduction to case..........................................................................................................................2
Entrepreneurial characteristics of Scott...........................................................................................3
Scott build the business from scratch..............................................................................................4
Scott’s learning journey...................................................................................................................5
Conclusion.......................................................................................................................................7
References........................................................................................................................................8
Contents
Introduction to case..........................................................................................................................2
Entrepreneurial characteristics of Scott...........................................................................................3
Scott build the business from scratch..............................................................................................4
Scott’s learning journey...................................................................................................................5
Conclusion.......................................................................................................................................7
References........................................................................................................................................8
ENTREPRENEURSHIP 2
Introduction to case
The report is analysis to a case study that is an entrepreneurial challenge: Vedavoo. The key
discussion of the case includes a case of Scott Hunter, who has suffered, failed and then got
success in his entrepreneur journey. The entrepreneurship is very attractive for most of the
people for a reason that they are not willing to perform a job under somebody’s orders. However,
they are not aware that most of the entrepreneurs fail in the initial stage of startups. This reflects
that the entrepreneurship does not only comes with success and money like the examples one
sees across the globe like Steve Jobs, but it also comes with the darker side, which includes
struggle and challenges to reach to the successful level. The report will discuss the key
characteristics of Scott that has led to success even after a struggling journey to the
entrepreneurship (hbr, entrepreneurial-challenge-vedavoo, 2019).
Introduction to case
The report is analysis to a case study that is an entrepreneurial challenge: Vedavoo. The key
discussion of the case includes a case of Scott Hunter, who has suffered, failed and then got
success in his entrepreneur journey. The entrepreneurship is very attractive for most of the
people for a reason that they are not willing to perform a job under somebody’s orders. However,
they are not aware that most of the entrepreneurs fail in the initial stage of startups. This reflects
that the entrepreneurship does not only comes with success and money like the examples one
sees across the globe like Steve Jobs, but it also comes with the darker side, which includes
struggle and challenges to reach to the successful level. The report will discuss the key
characteristics of Scott that has led to success even after a struggling journey to the
entrepreneurship (hbr, entrepreneurial-challenge-vedavoo, 2019).
ENTREPRENEURSHIP 3
Entrepreneurial characteristics of Scott
The key characteristics that can be identified through the case of Scott Hunter that has leaded
him to the successful owner of the company include passion as the top trait in the list. The
passion to become the entrepreneur was not an instant decision of Scott. He participated in a
competition while he was studying, he failed in the competition but the passion to become a
successful entrepreneur increased for the hunter, which was the major cause that he followed his
passion and eventually ends up as a successful entrepreneur (Amabile & Rigolizzo, 2015).
Vision is another trait of hunter. A strong vision is the base for an individual to perform further
in a particular direction. The idea generation was the major result of this trait of Scott that turns
out to be manufacturing a bag pack with a unique idea (Baron & Mueller, 2016).
Urge to learn is a major trait that has made him follow his passion and result in a successful
entrepreneur. He understands the need to learn, for which he enrolled himself into higher studies
to learn the entrepreneurial skills in a college of business. Learning must be an ongoing activity,
if a person look out to learn every time, he or she will never fail, he will learn from the incident
and attempt to win next time. Therefore, it can be said that this was one of the best trait of Scott
that he did not give up when fails, but take it as a part of learning and work towards the success
(Nyberg, Dentchev, & Van Hoof, 2016).
Decision making ability was another trait identified for Scott. It can be said as he as an individual
has taken all the key decision himself in the favour of following his passion. This could include
enrolling for entrepreneurial studies, idea generation. Moreover, the strategic decision taken by
Entrepreneurial characteristics of Scott
The key characteristics that can be identified through the case of Scott Hunter that has leaded
him to the successful owner of the company include passion as the top trait in the list. The
passion to become the entrepreneur was not an instant decision of Scott. He participated in a
competition while he was studying, he failed in the competition but the passion to become a
successful entrepreneur increased for the hunter, which was the major cause that he followed his
passion and eventually ends up as a successful entrepreneur (Amabile & Rigolizzo, 2015).
Vision is another trait of hunter. A strong vision is the base for an individual to perform further
in a particular direction. The idea generation was the major result of this trait of Scott that turns
out to be manufacturing a bag pack with a unique idea (Baron & Mueller, 2016).
Urge to learn is a major trait that has made him follow his passion and result in a successful
entrepreneur. He understands the need to learn, for which he enrolled himself into higher studies
to learn the entrepreneurial skills in a college of business. Learning must be an ongoing activity,
if a person look out to learn every time, he or she will never fail, he will learn from the incident
and attempt to win next time. Therefore, it can be said that this was one of the best trait of Scott
that he did not give up when fails, but take it as a part of learning and work towards the success
(Nyberg, Dentchev, & Van Hoof, 2016).
Decision making ability was another trait identified for Scott. It can be said as he as an individual
has taken all the key decision himself in the favour of following his passion. This could include
enrolling for entrepreneurial studies, idea generation. Moreover, the strategic decision taken by
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ENTREPRENEURSHIP 4
the company that was reframed, this turns out to be the cause for the success of product launch
(forbes, 2019).
Some other traits that were identified in Scott Hunter were risk-taking ability, even after many
failures, and loss of amount in preparing the prototype of bags, in order to follow the passion he
took the financial risk again. Moreover, innovation and change are another characters that is
found to be existing in Scott that has led to success. Moreover, networking and flexibility are
other traits that have led to building up international relations by Scott (Okpara, 2017).
Scott build the business from scratch
From the entrepreneurial journey of Scott, it has been identified that he has attempted to initiate
the business but many of the times, Scott fails. However, he did not give up on his idea and
follow until he succeeds by building up the business from scratch. The idea generated by Scott
was large trekking packs that are able to change into a sleeping bag or tent (Bruns, 2013). As per
the case, Scott has attempted various prototypes with the company name “Pingora” and he
chooses “Vedavvo” as the brand name on one of the popular area that is Vedauwoo. The key
challenge for him was the design firm, for which he chooses a California design firm, but the
designing was coming up to have a huge risk of operating, which makes him reframe the strategy
(hbr, 2019).
Afterward in 2010, another new beginning was identified to be adopted by Scott as the business
was running for a year without sellable packs, actual revenue earned, without a designer, and
without a factory. At the point, he attempted to perform with a South Korean company, fight for
the same for a while, but as an adverse result the designs were found to be stolen. The greatest
challenge that Scott faced was finding a niche that will come with an actual or real opportunity
the company that was reframed, this turns out to be the cause for the success of product launch
(forbes, 2019).
Some other traits that were identified in Scott Hunter were risk-taking ability, even after many
failures, and loss of amount in preparing the prototype of bags, in order to follow the passion he
took the financial risk again. Moreover, innovation and change are another characters that is
found to be existing in Scott that has led to success. Moreover, networking and flexibility are
other traits that have led to building up international relations by Scott (Okpara, 2017).
Scott build the business from scratch
From the entrepreneurial journey of Scott, it has been identified that he has attempted to initiate
the business but many of the times, Scott fails. However, he did not give up on his idea and
follow until he succeeds by building up the business from scratch. The idea generated by Scott
was large trekking packs that are able to change into a sleeping bag or tent (Bruns, 2013). As per
the case, Scott has attempted various prototypes with the company name “Pingora” and he
chooses “Vedavvo” as the brand name on one of the popular area that is Vedauwoo. The key
challenge for him was the design firm, for which he chooses a California design firm, but the
designing was coming up to have a huge risk of operating, which makes him reframe the strategy
(hbr, 2019).
Afterward in 2010, another new beginning was identified to be adopted by Scott as the business
was running for a year without sellable packs, actual revenue earned, without a designer, and
without a factory. At the point, he attempted to perform with a South Korean company, fight for
the same for a while, but as an adverse result the designs were found to be stolen. The greatest
challenge that Scott faced was finding a niche that will come with an actual or real opportunity
ENTREPRENEURSHIP 5
for developing products that actually value providers to the consumers. However, he did not give
up and the hard work of Scott and strategy decision of Scott taken in 2016 (Koryak, 2015). The
major strategic decision taken by hunter includes product focus that is in order to focus on a
single product and proving the best of fly-fishing, he decided to abandoned rock climbing and
backpacking. This reflects that Scott has started the business from scratch not only once but
many times after the idea was generated by him at the time of studying. This reflected the
passion of Scott for accomplishing his dream, that was actually a success after a completely new
beginning of the brand through fly-fishing bags and future growth strategies (Hafenbrack, Lu, &
Wang, 2017).
Scott’s learning journey
Challenges are one of the major parts in learning process As challenges let the person try and
search for a solution to the problems that enhance the learning journey. However, in case of Scott
it was not a necessary element as one of the key problem identified through the case was lack of
knowledge and experience by Scott that has made his journey difficult and painful (Miao, Eva, &
Newman, 2017). If I put my foot in Scott’s shoes, I would have done the invention, the journey
of entrepreneurship a bit differently. I would have learned from my first experience and accepted
that for being a successful businessman would need a complete knowledge and guidance to
performs and improve the issues that was the key reason I did not win the college competition.
Other than learning from college, the experience regarding the designing, and other relevant
elements required to initiate the business and to confirm the sustainability growth would be
considered. Other than this, the need for a plan was one of the elements, which I feel I would be
considered while entering into the business. This may include the strategies considered the
for developing products that actually value providers to the consumers. However, he did not give
up and the hard work of Scott and strategy decision of Scott taken in 2016 (Koryak, 2015). The
major strategic decision taken by hunter includes product focus that is in order to focus on a
single product and proving the best of fly-fishing, he decided to abandoned rock climbing and
backpacking. This reflects that Scott has started the business from scratch not only once but
many times after the idea was generated by him at the time of studying. This reflected the
passion of Scott for accomplishing his dream, that was actually a success after a completely new
beginning of the brand through fly-fishing bags and future growth strategies (Hafenbrack, Lu, &
Wang, 2017).
Scott’s learning journey
Challenges are one of the major parts in learning process As challenges let the person try and
search for a solution to the problems that enhance the learning journey. However, in case of Scott
it was not a necessary element as one of the key problem identified through the case was lack of
knowledge and experience by Scott that has made his journey difficult and painful (Miao, Eva, &
Newman, 2017). If I put my foot in Scott’s shoes, I would have done the invention, the journey
of entrepreneurship a bit differently. I would have learned from my first experience and accepted
that for being a successful businessman would need a complete knowledge and guidance to
performs and improve the issues that was the key reason I did not win the college competition.
Other than learning from college, the experience regarding the designing, and other relevant
elements required to initiate the business and to confirm the sustainability growth would be
considered. Other than this, the need for a plan was one of the elements, which I feel I would be
considered while entering into the business. This may include the strategies considered the
ENTREPRENEURSHIP 6
internal and external environment in order to identify the key opportunities and the validity of
the strategies. Moreover, I would have considered innovation and product improvement as the
key element while offering to the customers, along with providing value to the customer in the
form of use of the product, the looks, design, and fashion would matter. The promotional
decision would be another key element that I would have considered to attract the customers, as
it is important to make customers understand the use of the product and the reason to the
customer for which the price is asked by the company (Huggins & Thompson, 2015). The
sustainability plan would also be part of my step while conducting as the market is uncertain and
due to increased competition, it is important to plan the strategies in order to sustain in the
market.
internal and external environment in order to identify the key opportunities and the validity of
the strategies. Moreover, I would have considered innovation and product improvement as the
key element while offering to the customers, along with providing value to the customer in the
form of use of the product, the looks, design, and fashion would matter. The promotional
decision would be another key element that I would have considered to attract the customers, as
it is important to make customers understand the use of the product and the reason to the
customer for which the price is asked by the company (Huggins & Thompson, 2015). The
sustainability plan would also be part of my step while conducting as the market is uncertain and
due to increased competition, it is important to plan the strategies in order to sustain in the
market.
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ENTREPRENEURSHIP 7
Conclusion
From the case, it can be concluded that Scott Hunter, who has suffered, failed and then got
success in his entrepreneur journey. The key characteristics that can be identified through the
case of Scott Hunter that has led him to the successful owner of the company include passion as
the top trait in the list. Vision, urge to learn, decision making ability, risk-taking ability,
innovation and change, are a character that is found to be existing in Scott that has led to success.
The idea generated by Scott was large trekking packs that are able to change into a sleeping bag
or tent. Scott has attempted various prototypes but a lot of the times, Scott fails. Afterward in
2010, another new beginning was identified to be adopted by Scott as the business was running
for a year without sellable packs. He did not give up and the hard work of Scott and strategy
decision of Scott taken in 2016.
Conclusion
From the case, it can be concluded that Scott Hunter, who has suffered, failed and then got
success in his entrepreneur journey. The key characteristics that can be identified through the
case of Scott Hunter that has led him to the successful owner of the company include passion as
the top trait in the list. Vision, urge to learn, decision making ability, risk-taking ability,
innovation and change, are a character that is found to be existing in Scott that has led to success.
The idea generated by Scott was large trekking packs that are able to change into a sleeping bag
or tent. Scott has attempted various prototypes but a lot of the times, Scott fails. Afterward in
2010, another new beginning was identified to be adopted by Scott as the business was running
for a year without sellable packs. He did not give up and the hard work of Scott and strategy
decision of Scott taken in 2016.
ENTREPRENEURSHIP 8
References
Amabile, T., & Rigolizzo, M. (2015). Entrepreneurial creativity: The role of learning processes
and work environment supports. The Oxford handbook of creativity, innovation, and
entrepreneurship, 61.
Baron, R., & Mueller, B. (2016). Self-efficacy and entrepreneurs' adoption of unattainable goals:
The restraining effects of self-control. Journal of Business Venturing, 31(1), 55.
Bruns, P. (2013). Corporate Entrepreneurship: Innovation and Strategy in large organisations
(3rd ed.). london: Palgrave MacMillan.
forbes. (2019). the-dark-side-of-entrepreneurship-what-every-coach-should-know-about-failure.
Retrieved from https://www.forbes.com/sites/forbescoachescouncil/2018/08/10/the-dark-
side-of-entrepreneurship-what-every-coach-should-know-about-failure/#64810eb040de
Hafenbrack, A., Lu, J., & Wang, D. (2017). “Going out” of the box: Close intercultural
friendships and romantic relationships spark creativity, workplace innovation, and
entrepreneurship. Journal of Applied Psychology, 1091.
hbr. (2019). entrepreneurial-challenge-vedavoo. Retrieved from hbr:
https://hbr.org/product/entrepreneurial-challenge-vedavoo/BAB444-PDF-ENG
hbr. (2019). the-dark-side-of-entrepreneurship. Retrieved from https://hbr.org/1985/11/the-dark-
side-of-entrepreneurship
Huggins, R., & Thompson, P. (2015). Entrepreneurship, innovation and regional growth: a
network theory. Small Business Economics, 103.
Koryak, O. (2015). Entrepreneurial leadership, capabilities and firm growth. International Small
Business Journal, 33(1), 89-105.
Miao, Q., Eva, N., & Newman, A. (2017). CEO entrepreneurial leadership and performance
outcomes of top management teams in entrepreneurial ventures: The mediating effects of
psychological safety. Journal of Small Business Management.
Nyberg, T., Dentchev, N., & Van Hoof, B. (2016). Embracing the variety of sustainable business
models: social entrepreneurship, corporate intrapreneurship, creativity, innovation, and
other approaches to sustainability challenges. Journal of Cleaner Production, 1.
Okpara, F. (2017). The value of creativity and innovation in entrepreneurship. Journal of Asia
Entrepreneurship and sustainability, 1.
References
Amabile, T., & Rigolizzo, M. (2015). Entrepreneurial creativity: The role of learning processes
and work environment supports. The Oxford handbook of creativity, innovation, and
entrepreneurship, 61.
Baron, R., & Mueller, B. (2016). Self-efficacy and entrepreneurs' adoption of unattainable goals:
The restraining effects of self-control. Journal of Business Venturing, 31(1), 55.
Bruns, P. (2013). Corporate Entrepreneurship: Innovation and Strategy in large organisations
(3rd ed.). london: Palgrave MacMillan.
forbes. (2019). the-dark-side-of-entrepreneurship-what-every-coach-should-know-about-failure.
Retrieved from https://www.forbes.com/sites/forbescoachescouncil/2018/08/10/the-dark-
side-of-entrepreneurship-what-every-coach-should-know-about-failure/#64810eb040de
Hafenbrack, A., Lu, J., & Wang, D. (2017). “Going out” of the box: Close intercultural
friendships and romantic relationships spark creativity, workplace innovation, and
entrepreneurship. Journal of Applied Psychology, 1091.
hbr. (2019). entrepreneurial-challenge-vedavoo. Retrieved from hbr:
https://hbr.org/product/entrepreneurial-challenge-vedavoo/BAB444-PDF-ENG
hbr. (2019). the-dark-side-of-entrepreneurship. Retrieved from https://hbr.org/1985/11/the-dark-
side-of-entrepreneurship
Huggins, R., & Thompson, P. (2015). Entrepreneurship, innovation and regional growth: a
network theory. Small Business Economics, 103.
Koryak, O. (2015). Entrepreneurial leadership, capabilities and firm growth. International Small
Business Journal, 33(1), 89-105.
Miao, Q., Eva, N., & Newman, A. (2017). CEO entrepreneurial leadership and performance
outcomes of top management teams in entrepreneurial ventures: The mediating effects of
psychological safety. Journal of Small Business Management.
Nyberg, T., Dentchev, N., & Van Hoof, B. (2016). Embracing the variety of sustainable business
models: social entrepreneurship, corporate intrapreneurship, creativity, innovation, and
other approaches to sustainability challenges. Journal of Cleaner Production, 1.
Okpara, F. (2017). The value of creativity and innovation in entrepreneurship. Journal of Asia
Entrepreneurship and sustainability, 1.
ENTREPRENEURSHIP 9
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