Entrepreneurship and Business Environment: A Case Study of Gym-shark

This document provides a case study of Gym-shark, an apparel fashion company. It explores the entrepreneurship and business environment of the company, including the role of leaders, recognition of opportunities, and the importance of innovation in business growth. The document also discusses the impact of COVID-19 on the company.

Individual essay

EXECUTIVE SUMMARY
The market of business is enlarging at rapid scale. It has become important for entrepreneur
to be aware about market in which they are operating their activities & functions. With changing
time period, many businesses has been established within market place. Furthermore, to implement
business activities properly reliable information is needed to be required so that goals and success is
achieved appropriately. Moreover, an entrepreneur should have new ideas & thinking to run
business specifically.

Table of Contents
INTRODUCTION................................................................................................................................3
MAIN BODY.......................................................................................................................................3
A. Overview of entrepreneur ..........................................................................................................3
B. About entrepreneurial organisation- ..........................................................................................6
Role of leader & becoming successful leader .................................................................................6
c. Contribution to economy & society.............................................................................................8
Survival Issues related to pandemic.................................................................................................9
Recommendation...........................................................................................................................10
CONCLUSON....................................................................................................................................11
RERERENCES...................................................................................................................................12
Books & Journal:...........................................................................................................................12

INTRODUCTION
In market, business is wider and broader comprises of wide range of functions & operations.
In this contemporary business, it is essential to be competitive so that goals are accomplished in
proper manner. With this changing market situations, it has become essential to focus on changing
needs & demands of end users. In retailing industry, it has become essential to examine market
situations so that it is easier to achieve competitive benefit (Beliatis, 2018). Business environment
has deep impact on business development & it increases the importance of development as well as
growth. Entrepreneurship refers to developing or producing of new product or change in market.
Main aim of this report is to understand the business environment & its impact. Gym-shark, an
apparel fashion company headquartered in U.K. The entity was founded in 2012 by entrepreneur
Ben Francis & Lewis Morgan. It has many competitors such as Jenny Bird, Ashworth & Parker, etc.
This report comprises of entrepreneurship concepts, about organisation, contribution to economy &
society and impacts of COVID19.
MAIN BODY
A. Overview of Gym-shark
Gym-shark is an apparel fashion industry which was founded by British business man Ben
Francis. He was born in June in 1992 & has net worth of around 700 million. He is educated from
Aston university & South Bromsgrove High. When he was teenager, he developed a website that
sold cars license plates. Further, he also built iPhone fitness tracking apps through these online
activities he developed business of fitness apparel & develop a retail business. Moreover, he first
sells supplements but profit margin was less then he combines the clothing in business. He
introduces this proposed firm with his school nine teammates & they initiate. Co-owner of a brand
who is Lewis Morgan is also founder of Gym-shark. The chosen company sell their products &
services are global scale.
Personality traits of entrepreneur-
These personality traits of entrepreneur are those who which reflects the personalty skills of
individual of becoming entrepreneur. There are basically several types of traits which are described
as follows-
 Motivated- Ben Francis is motivated person who has a high will power to achieve
something. Thus motivation allow him to become a successful entrepreneur. Without
motivation, an entrepreneur cannot achieve success (Danielli, 2020).
 Innovative mind- It is another trait of Ben, as he developed an innovative business with

new change in market. Through using his innovation skill, Gymshark was developed in
market at wider level.
 Problem analysis- This is another personality traits of Ben, as he has the ability to analyse
& examine problem within business situations. Through use of problem analysis, it is easy
for him to understand critical situation in correct way.
 Focused toward goals- It is another trait of entrepreneur in which Ben Francis is focused
towards goals & which helps him to develop an innovative brand. Through properly
focusing towards goals, success is easily achieved.
 Risk tolerance- It is too essential trait of an entrepreneur in which Ben has ability to take
risk & manage it within a time. Risk tolerance is necessary to be present as it help in
achieving of most efficient output without impacting further process.
So, above analysed paragraph shows that by properly analysing role of leader is helpful &
which too depicts that it is important for leader to be aware about roles & responsibilities on basis
of which decisions are made.
Recognition of Opportunity
Opportunity
An opportunity is defined as combination of situations that give positive outcomes. Every
individual wants to achieve something as an opportunity. In business, it is necessary to recognize
opportunity so that resources & information are used efficiently. In reference of selected firm, they
are able access to wide range of opportunity which are beneficial for their business & on basis of
which they achieve growth.
 When Ben was started participating events in 2012 of body building & fitness, he
recognizes the opportunity as he found many communities which were paying high
amount to gym & tools (Dee, 2019).
 Further, he too developed a business & market analysis on basis of which he realised
that people were not wearing clothes of gym the way he wanted. So, through this he
developed entrepreneurial opportunity.
 Moreover, with rise of changing customer demands & needs of gym makes it easy for
Ben to introduce a brand in proper manner.
With this recognition of opportunity, entrepreneur was able to enhance opportunity of
expanding business at larger scale through niche one. Moreover, by accessing to these opportunities
it was easy for `him to carry out all business functions & operations effectively.

Launch of new products in market-
new product
A new product refers to product which is being introducing for first time in market. For
example- in viewpoint of selected firm, their new products are gym gears which are new gym matt.
 In context of Gym-shark, they launched their products & services through online websites
& application. They initially targeted a niche market for their business. They launched
product services to target market of gym loving people & started to sell gear of gym &
fitness. (Fioramonti, 2017).
 Also, while launching of their products they were also able to impacts upon big sports
industries such as Nike & Adidas. Moreover, they too reduce to sell products through third
party retailers such as ASOS, JD Sports etc.
 They were selling innovative products such as new types of gym clothes such as new breeze
lightweight seamless long sleeve crop top, and many other new products. These range of
new innovative products leads to attracting of new customers at higher level.
The respective firm launch new products on monthly basis which makes it is easier for them
to increase their customer base level more at wide range. It is also seen that with rise of competitors
they are developing.
Innovation refers to process of developing something new in market. In this competitive
world, it is essential to produce new products in market so that goals are achieved in proper manner.
In context of Gyms-hark, they were able to sell new products in market & gym gear tools in market
which makes them innovative brand in 2012 (Morrison, 2018). An organisation cannot survive in
market without carry out innovation. Main benefits of adopting with innovation are discussed
below-
 Through proper focusing on innovation assist in improving business practices in a specific
market for longer period (Hira, 2017).
 Another benefit of innovation is that it helps in enhancing suitability period of entity for
longer interval. It is necessary to make assure that business survive for longer interval of
time.
 Further, it too enhances the brand recognition & value in market on basis of which it is easy
to carry out market activities. Innovation is best method on basis of entrepreneur can
increase brand recognition at larger scale.
 Adapting innovation in business also increases competitiveness at larger scale. It is essential

to increase competitiveness within a marketplace so that higher productivity is achieved.
 Also, when new products are introducing or launches with new features, it generates higher
profitability & enhance turnover.
Therefore, it has been stated that it is essential to focus on business development concept so that it
is easy to achieve set objectives within period of time. So, it is seen that with adapting of this
concept helps in making effective decisions. With rise of competition, importance of innovation has
increase at higher scale.
B. About entrepreneurial organisation-
Gym-shark is a fitness & apparel industry which focus on delivering of high quality products &
services. It is also analysed that entity aims at gym addicted & health conscious people. In relevance
of selected entity, they carry out their business activities as well as operations globally. They have
enlarging their portfolio products with more extension line & diverse features as well as new
services. As they produce new products & sell it to customers, they have a premium goodwill in
market. The corporation also sell their products through online website worldwide including180
countries & within 13 different languages. Furthermore, it has analysed that it sells products of
both men & women. Also, them promote & market their brand through social influences at wide
approach.
Ben Francis build Gym-shark with his nine teammates & target niche market for their distribution
of products. With this team work of group of people, Ben was able to introduce a new organisation
in market. Moreover, entrepreneurial team of both Ben Francis & Lewis Morgan was formed while
they were studying in Austin University. They, then launched company & in 2012 they were selling
supplements for body & then 2013 they started their own manufacturing of apparels. (Nikitina,
2019). Through working a team, it took less than a year to step in a market. Further, they also search
for investors to expand their business globally.
Role of leader & becoming successful leader
leadership
A leadership is defined a process of influencing other decisions in positive way. A leader
need to carry out leadership in most effective manner. Ben Francis has 70 percent stake in his own
company. He is a great leader who has high level of knowledge & ability to change decisions of
others. Being leader is not easy task & which require deep level of market knowledge and many
skills.
As a leader he plays important role in firm which are discussed below-

 Facilitator- This is a crucial role which is performed by him in which is makes things easy
for his employees & teammates. Through this role, objectives are achieved in correct way.
Being as a facilitator as leader, makes it easier for subordinate to carry out their work
activities. It is necessary to carry out this role in correct way so that support is provided to
employees & problems are reduced at larger level (Nyamunda, 2016).
 Strategy maker- Thus is another essential role which is performed by him in which it he is
responsible for implementation of strategies. As, role of strategy maker he carries out
business operations properly. It is difficult to engage workforce & gain competitive
advantage without using strategies. So, being strategy leads & makes it easy to for a Ben to
deal with competitors effectively.
 Decision maker- It is another crucial role which is focused in which Ben make decisions
within a firm & also changes situations accordingly. As a decision maker, he takes all
important decisions as a leader.
It is often said that leaders are born not made but it is not true because it depends upon
person capability & level of skills whether it is possible to become a leader or not. To become a
successful leader, there are many things which are to be considered which are given below-
 Strength- Main strength of leader is that he is an innovative person who is responsible for
generating better output. To become a successful leader, motivation & innovation are
crucial. This strength of motivation is sign of successful leader. Through properly analysing
strength of self, it is easier to obtained & make decisions (Pereira, 2019).
 Effective communication- It is another crucial thing in which it is necessary for leader to
produce an effective communication. Ben is successful leader as he has effective
communication skills which is used by him at workplace. Without using of effective
communication, it is difficult to make message understand by other.
 Analysis of situation- To become a successful leader, it is crucial to examine the situations
in critical way so that decisions are made appropriately. Through properly understanding of
situation, it is easy to get work done. It is also essential because in market uncertain events
are bound to occur (Reim, 2019).
Thus, this is analysed that it is necessary to focus on these above mentioned factors so that it
is easy to become a successful leader & moreover, they help in achieving leader responsibilities
properly.
Growing of business-

Growth & development are important things which are being considered properly. Growing of
business has been also an essential task for Ben. The retailing industry has been evolving with
changing period of time. It has become necessary to focus on growth of enterprise so that survival is
for longer time interval. In context of Gym-shark, business grew in year 2013 when they started
manufacturing their own apparels in market. Main reason for growth of business was that Ben &
Lewis both were focused towards their goals & having innovative idea of selling gym products
which makes them billionaire (Sadachar, 2016). Furthermore, they have been growing their
business through approaching to social influencers as marketing & promotion of a brand.
Moreover, they have been in strategic partnership with Equity firm which is General Atlantic. This
has increased their growth of business & allow them to expand themselves at larger scale. The
entrepreneur of chosen corporation has been developing more new opportunities.
Both entrepreneur belong to middle class family & were motivated to achieve something in life.
Their hard work and determination led them to grow business at larger scale. Another main reason
is the target social people & you-tubers such as Lex Griffin & Nikki Blackletter (Singh, 2020). So,
through use of social media they are able to business at wider range. It is also seen that it is essential
to grow business with proper market analysis. The higher growth of business has created a broader
opportunity for selected entity to expand their activities globally.
c. Contribution to economy & society
A new business venture plays crucial role in development of nation economy and provide profits as
well as huge contribution to society. It is necessary to be aware about specific market so that
benefits are determined. In context of U.K & Gym-shark, they have been providing huge benefits to
market at wider scale. Moreover, in respective chosen corporation they are responsible for
delivering a new opportunity to U.K market & other sectors to survive for longer period. Also, it is
seen that they generated ample number of job opportunities within society & community &
increases contribution level of economy of United Kingdom.
Contribution to economy & society-
 Improve market structure- The development of company selected firm has leads to
increase of distribution channel within retailing industry at huger level. Also, it is stated that
they have been developing able to widen the scope for retailers to help more businesses
structure. For example- new products are developed seasonally to compete with other
competitors.
 Job opportunities- Another contribution to economy is that firm generated wide number
job opportunities t& reduces unemployment rate society. This creates a benefit aspect for

nation (U.K). More than 8% job opportunities have been created by chosen entity which
also increase their goodwill in market (Zhang, 2020).
 Enhance suppliers range- Furthermore, it is too stated that contribution of firm was that
they expanded suppliers base rates in market which indirectly also helped small & medium
based companies. This enhances tax rates of country which leads to increase profit ratio of
country. Through this contribution, they suppliers are able to access to buyers easily.
 New production innovation- Moreover, it too disrupted the market of sportswear industry
at larger level as because there were many less active wear garments in market. It affected &
contributed to community as because people were able to wear gym accessories with wider
options available in market.
 Government sectors rises- They have been also in strategic partnership with their equity
firm which is General Atlantic, which makes leads to increase use of resources & more
funds which directly effects on governmental sectors positively (Beliatis, 2018).
 Wealth creation- This is another essential in which it states that it contributed to wealth of
economy at higher level. Through this wealth creation of contribution, it is easy for country
to increase foreign exchange rates.
The above explained matter shows that it is necessary to determine contribution level of
entity so that it is easy to use resources on further procedure. The contribution ratio of chosen entity
is higher which too reflects their benefits towards market. A potential business has capability to
provide higher profits to both society & community.
Survival Issues related to pandemic
In this year of 2020 & 2019, COVID has affected business & other sectors at wider scale.
Due to this pandemic issue, it market sector has been unable to perform an uplift in proper manner.
In many countries, there have been places where lock-down has been put which makes it difficult
for entrepreneurs to carry out their activities efficiently. Many people have also change mind set of
their jobs & are establishing their own business. This is also evaluated that pandemic has disrupted
overall business environment (Danielli, 2020). In viewpoint of United Kingdom, they also have
changed many policies in context of people who are doing business or are in corporate world. There
are many issues related to with this pandemic which are further explained below-
 Money management- This is biggest issue which is faced by Gymshark because of earning
low profit during this pandemic situation. This is because due to lock down in many
countries it is not possible to supply goods to within a or outside country. This makes it

difficult to survive in market specially in retailing sector (Dee, 2019).
 Access to resources- In this survival issues, chosen corporation find it not possible to access
to resources in correct way because of increased prices & bad quality. Due to this less access
to resources leads to generation of low profit & enhance cost structure of business.
 Work life balance- This is another survival issue of entity because due to occur of
pandemic situations may companies has started giving work from home to employees. It
negatively impacts upon internal capabilities of workforce. Also, it is not possible to manage
work when working from home.
 Going digital to survive- In this, it is difficult in surviving with physically & every business
is going digitally. In relevance of selected company, they they have been too enlarging their
business digitally to survive in this critical situations (Fioramonti, 2017).
Thus, from above explained paragraph it shows that it critical for selected organisation to
survive in this global pandemic situation. These issues are needed to be addressed in correct
manner. Further, it is duty of entrepreneur to make assure that appropriate market analysis is being
carried out in such a that market situation are easily determined appropriately (Hira, 2017).
Recommendation
From above discussed matter, it has been stated that it is necessary for businesses to be
aware about these market situations in both external & internal ways so that decision making
process id done in most effective way. In reference with selected enterprise it is examined that
through proper using of sources of information such a situations are easily determined. Thus, there
are various types of recommendation which to be adopted & are discussed as follow-
 It is recommended to Gymshark that they need to implement market strategies in this
pandemic situations so that it is easy for them to survive & achieve competitive advantage.
 Further recommendation is that chosen corporation has to digitalise their business so that
they are able to access to customers at wider approach & at rapid scale. This is because
customers in this COVID 19 situations rarely visit & purchase product at stores.
 Then, through making available of tools such as sanitizer, masks, in a store will enhance
company goodwill in market & customers will also purchase products freely.
 Another recommendation which is required to be consider is that they should not give work
from home to all subordinates instead they can divide this to give WFH to partially infected
people or team.
 The occur of pandemic situations has increased prices of resources at higher so it is again

recommended that they need to be active towards using of resources at optimum level so
that cost structure does not get affected in negative way.
Therefore, it is analysed from above recommendation is that it is essential for them to have
analysis of every activity of market as it leads to using of proper decision making process &
carrying out strategies accordingly. It is necessary to pay attention to these recommendations as
they help in improving business weak areas.
CONCLUSON
After a brief analysis of above report, it has been concluded that it is necessary to focus on
business & development. Through properly focusing on carrying out business in market, an
entrepreneur is able to achieve goals. Furthermore, this is too examined that this report gives brief

information about how entrepreneur & business achieve success in contemporary situations. Thus,
discussions have been made about entrepreneur, business, overview & business organisation. It is
evaluated that in this changing market situations, to accomplish objectives everything is to be
carried out with proper considerations. With appropriate market analysis, it is easy to carry out
effective decisions making which is beneficial for future growth.
RERERENCES
Books & Journal:
Beliatis, 2018, June. Digital waste management using LoRa network a business case from lab to

fab. In 2018 Global Internet of Things Summit (GIoTS) (pp. 1-6). IEEE.
Danielli, 2020. Economic interventions to ameliorate the impact of COVID-19 on the economy and
health: an international comparison.Journal of Public Health.
Dee, 2019. A review of research on the role and effectiveness of business incubation for high-
growth start-ups.
Fioramonti, 2017.The world after GDP: Politics, business and society in the post growth era. John
Wiley & Sons.
Hira, 2017.Governing corporate social responsibility in the apparel industry after Rana Plaza.
Palgrave Macmillan US.
Morrison, 2018. Beyond the status quo–setting the agenda for effective change: The role of leader
within an international school environment.Educational Management Administration &
Leadership,46(3), pp.511-529.
Nikitina, 2019. Creating and managing knowledge towards managerial competence development in
contemporary business environment.Knowledge Management Research & Practice,17(1),
pp.96-107.
Nyamunda, 2016. The state and black business development: The Small Enterprises Development
Corporation and the politics of indigenisation and economic empowerment in
Zimbabwe.Historia,61(1), pp.41-65.
Pereira, 2019. Decent work’s contribution to the economy for the common good.International
Journal of Organizational Analysis.
Reim, 2019. Circular business models for the bio-economy: A review and new directions for future
research. Sustainability,11(9), p.2558.
Sadachar, 2016. Predicting environmentally responsible apparel consumption behavior of future
apparel industry professionals: The role of environmental apparel knowledge,
environmentalism and materialism.Journal of Global Fashion Marketing,7(2), pp.76-88.
Singh, 2020. Impact of COVID-19 on logistics systems and disruptions in food supply
chain.International Journal of Production Research, pp.1-16.
Zhang, 2020. Follower Mindfulness and Well-Being: The Mediating Role of Perceived Authentic
Leadership and the Moderating Role of Leader Mindfulness.Frontiers in Psychology,11.
Zhu, 2019. The upgrading framework in the apparel industry literature: insights from apparel firms
in Ningbo, China.Geografiska Annaler: Series B, Human Geography,101(3), pp.231-254.