BUS3ENT: Entrepreneurship Assignment
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La Trobe Business School
ENTREPRENEURSHIP (BUS3ENT)
Added on 2020-05-01
BUS3ENT: Entrepreneurship Assignment
La Trobe Business School
ENTREPRENEURSHIP (BUS3ENT)
Added on 2020-05-01
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Running head: NAOMI SIMSON, A SUCCESSFUL ENTREPRENEURNAOMI SIMSON, A SUCCESSFUL ENTREPRENEURName of the Student:Name of the University:Author Note:
1NAOMI SIMSON, A SUCCESSFUL ENTREPRENEURExecutive SummaryThe report analyses the entrepreneurship traits of Naomi Simson and the impact of herbackground on her career. The report discusses the position of her company RedBalloon inmarket, its competitive advantages and some issues that need to be solved. The purpose of thisreport is to discuss the entrepreneur’s background and its impact on her business career. Thecompany’s strategies reflect her personal traits. The way she found the idea and recognized theopportunities are described in this report. The report concludes with its future direction and somerecommendations for the wellbeing of the company.
2NAOMI SIMSON, A SUCCESSFUL ENTREPRENEURTable of ContentsIntroduction:....................................................................................................................................3A successful entrepreneur, Naomi Simson......................................................................................3Background of the entrepreneur:.................................................................................................3Entrepreneurial traits:..................................................................................................................5Opportunity recognition and idea development process.............................................................5Competitive advantages:..............................................................................................................6Recommendations:......................................................................................................................8Future direction:...........................................................................................................................8Conclusions:....................................................................................................................................9References:....................................................................................................................................10
3NAOMI SIMSON, A SUCCESSFUL ENTREPRENEURIntroduction:The report analyses the role of Naomi Simson as a successful entrepreneur of Australia.The chief focus is her development from a very humble past life. She is the business owner ofRedBalloon and is known as ‘red lady’ worldwide. Her pursuit of dreams and positivity has left agreat impact in her business as well as in the minds of the startup businesspersons (Hunter 2013).She shares her ideas, resilience that helped her in soaring high. As a leader, she is passionate aswell as generous to her employees, which has made the company the best place to work.The analysis discusses Naomi’s personal life and its impact on her career, her personaltraits that guided to design the company strategies, her opportunity recognition, and thecompany’s competitive advantages and finally the minor problems that must be solved.A successful entrepreneur, Naomi Simson Background of the entrepreneur:Naomi Simson is an entrepreneur from Australia, blogger and businessperson. She is thefounder of RedBalloon (Redballoon.com.au 2017). RedBalloon is an online experience giftretailer that was originated in Australia. It operates under Big Red Group, its parent company.She has achieved awards like Ernst & Young Entrepreneur of the Year Award in 2011and theLifetime Achievement Silver Stevie Award in 2013.Naomi was brought up in Melbourne. Her father has been a mechanical engineer. Naomisays that in her childhood she always found her mother working with computers. This kind ofupbringing made her independent. At that time, majority of the women usually stayed at homeand did not go for work outside. For Naomi, her mother’s passion for work has immenselyinfluenced her to work full time. Her mother taught her the importance of work and kept her
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