Jack Ma and Alibaba: A Successful Entrepreneurial Journey in the Technology Industry

PROJECT 1

TABLE OF CONTENT
PART A...........................................................................................................................................1
PART B............................................................................................................................................4
REFERENCES................................................................................................................................6

PART A
An entrepreneur is a person who wants to start their own business in market and take a lot
of risks in market so that they can become successful. There are a lot of innovations and
inventions which are included in this process. The entrepreneur which is discussed in the report
is Jack Ma and his organization, Alibaba Group (Lin, 2017).
Motivation is one of the key themes that impact the work that is to be done by the
entrepreneur. For Jack Ma, in all the up's and down's of life the wife has stood by him and
believed in him because she has always believed in the ideas he had. Through, this constant
motivation, he has been capable of capturing the market and that is why the wife is believed to
be the support system of her husband throughout. With the help of this belief and the creative
ideas that Jack Ma had, he was able to effectively reduce the barriers for the company’s success
and eventually, Alibaba made a place for themselves in the market at a global level indicating
their leadership. Wife of Jack Ma helped him set up the first company which he come up with by
investing USD 20,000 and even worked as a manager but later left to be a house maker.
Technology use is increasing in the world which is giving a great advantage to Alibaba group to
expand themselves in market and that is why the company has been able to grow this much so
quickly even after the amount of competition in market. There is a huge scope for Alibaba
themselves to get a better place for themselves in market which is why they have to be all the
more careful while making their decisions for competing in the market. There was a clear vision
in the mind of Jack Ma which made the organization to take steps accordingly so that the
organization can have a better functioning and the organization made a place for themselves
faster (Glowik, 2017). The future was transparent in front of the investors of the company which
is making the company have a great advantage to themselves.
In order to further understand the concept of entrepreneurial ideas and the different
phases that the entrepreneur face can be properly categorised into the concept of effectuation and
various themes associated with it. The concept of effectuation in context of entrepreneurs was
initially developed by Dr. Saras Sarasvathy. Effectuation can be defined as a unique process
where the entrepreneurs develop a logical thinking on the basis of their expert ideas and then
ultimately develop a base for successful venture. There are five basic principles of effectuation
that can be discussed in order to identify areas of application are as follows:
1