BM312 Entrepreneurship: Amanda Bennetts' Store Case Study Analysis

This case study examines Amanda Bennetts' entrepreneurial venture in Melbourne, focusing on her innovative idea to provide fashionable fitting boots. Despite initial success with outsourced manufacturing from China, the business faced significant challenges, including quality control issues with Chinese contractors, failure to adapt to online marketing strategies, and risky financial decisions such as mortgaging her house. The case highlights the importance of due diligence, contract enforcement, innovation, and balanced risk management in entrepreneurship. Ultimately, the business closed in 2014 due to poor product quality and escalating costs. Amanda's story serves as a lesson in the complexities and potential pitfalls of launching and scaling a business, emphasizing the need for thorough planning, quality assurance, and adaptability in a competitive market. Desklib provides a platform to explore similar case studies and solved assignments for students.

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Executive summary
Amanda bennetts store was one of the best innovative ideas in Melbourne. Amanda saw the
need for fitting boots which were hardly in the market and decided to take advantage of the
market gap. She did her research and realized that after designing the boots , she could
outsource manufacturing services form china where she had lived and worked for a couple of
years. It was a good beginning as the business picked and the boots were sold out in a matter
of weeks with many other people lining up for more fashionable fitting boots. She however
decided to risk it all in anticipation of a booming business. That was not the case as she faced
challenges of cultural differences with Chinese people. She and her husband wound up the
business in 2014 after much struggle for liquidity and high costs of running the business.

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Contents
Executive summary....................................................................................................................2
Introduction................................................................................................................................2
Entreprenuership........................................................................................................................3
Conclusion..................................................................................................................................6
References..................................................................................................................................6
Introduction
Amanda and her husband had spotted an opportunity and a market gap in Melbourne
Australia. She was really interested in bringing fitting boots that are fashionable and can fit

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ever woman who was interested and didn’t find their perfect fit in the market. At first, her
company really did well in the first batch of the consignment she ordered from China
(Hmieleski, & Sheppard, 2018). Having lived and worked in China, there was a competitive
market and opportunity cost in production. She could design and produce in China, ship it in
Australia and then make the sale. She had given her all in the establishment of this business,
innovating and creating structures that help in business. However, she did not make it make
due diligence in her second batch and few years later due to bad quality of boots supplied she
closed the business (Dees, 2017).
Characteristics of Amanda as an entreprenuer
Decisiveness: ability to make prompt decisions in record time if an opportunity arises.
Creativity: in the business world, dreamers are not at all naive.
Courage: even to start planning your own business, you already need to be a little adventurer.
Love for business: if you do not have eyes burning at the thought of what you are doing, do
not expect to be able to light up your idea of other people. Doing business is a matter of a lot
of complexity, and the only thing that will not let you drop your hands and forget about the
ultimate goal is your own enthusiasm (Lee, & Huang, 2018)..
Resourcefulness: as a rule, nothing in life happens exactly according to plan.
Therefore, the ability to respond quickly and make decisions in unforeseen situations is vital
for doing business. Do not think that you can foresee everything, and be ready to improvise
when it is necessary (Kozubíková,et al 2015).

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Necessary qualities of a successful entrepreneur
Honesty: Be honest with your customers, partners, employees and everyone with
whom you will have to work, and most importantly, be honest with yourself. Do not set goals
and deadlines that you will not be able to fulfill, and do not sell a product that you do not
have. The best marketing and branding strategy will be to find what your company really can
offer, and then provide it at its best.
Sociability: it's not at all necessary to be a professional speaker or to become the best
friend of everyone you meet, but you must be able to communicate with people. Being
engaged in your business, you will have to meet with a huge number of people, and, of
course, it is better that they consider you a professional and a person who easily goes to
contact.
Surrender: you can not do business halfway. You must be ready to give most of your
time and effort to your daily duties. Try to allocate your time so that it is enough for both
work and personal life, and monitor the fulfillment of tasks that you put on your own for a
day, a week or a month.
The ability to anticipate: if you have your own business, you can not afford to live one
day. At a minimum, at a subconscious level, you must plan and prepare everything in
advance. As a chess player, you should think through your actions for several moves ahead.
Flexibility: after you have already discussed and prepared everything, you will have
to take a critical look at the work done and show a healthy pragmatism. Adherence to the
initial plan, which does not correspond to the current situation, is unlikely to benefit your
business. In dealing with customers, contractors, potential partners, etc. flexibility is much
more valued than stubbornness and a desire to prove one's rightness.

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Well, are you ready to become a real entrepreneur? Even if you do not have all of the
above qualities, we are sure that many of them can be developed along the way. The main
thing is that this business should have its own. draw out as many cards as we need to win.
It should be noted that small and medium-sized enterprises, acting as independent business
entities or being part of an integration cluster, enterprises, carrying out separate specialized
works, identified and occupied their niche in the market, which determines their role and
significance in the process.
Assertive- For the effect Effective impact of each of these factors requires the
development of NTP achievements in the implementation of innovations that ensure the
creation of innovations and their practical implementation in the form of a new product,
investments that ensure the replacement of generations of technology and technology, the
effective use of these innovations, economic growth.
Venture investment is carried out in the calculation not for interest, but for the
development of the venture enterprises themselves, their innovations. The results of
innovations are goods and services with new quality parameters, new public utilities,
products of "market novelty." They open up to consumers the possibility of meeting an
entirely new need: Amanda took the risk all alone and in the process lost her very innovative
business idea. The impact of an innovative idea on a business is huge. It is necessary that a
small company seeks appropriate financial help or any help including technologically (Pate &
Wankel, 2014)
Challenges facing amandas business
There were several challenges that faced amandas business till it shut down. The first
challenge was the inability to make a follow up with the Chinese contractors after the quality

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first batch. The Chinese literally destroyed her reputation of supplying quality boots by
supplying less standard quality boots with a bad zip and poor leather quality. the chines
should have been made to pay for the delivery of poor standard boots if they had a contract
with Amanda. She could have sued them for compensation of lost money (Parker, 2018). .
Secondly, she failed to innovate and build strategies in which online marketing could
have been used. Her idea of only selling through her brick and mottar stores escalated the
cost of doing business. online marketing or e-business could capture more markets even in far
palces than Melbourne (Salavou & Lioukas, 2018).
Thirdly, she was too quick to risk it all. She mortgaged her house inorder to finance
her business which is not a very wise idea. She never stopped to think if the business could
not pick. However, at least she had tried. These are the characteristics and qualities of an
entrepreneur (Storey, 2016).
Conclusion
Amanda and her husband had a very good idea. She used a lot of money on capital but
did not recover the money. She could also have used the online markets to sell her products
and materials. The Chinese literally destroyed her reputation of supplying quality boots by
supplying less standard quality boots with a bad zip and poor leather quality. the chines
should have been made to pay for the delivery of poor standard boots if they had a contract
with Amanda (Sinha & Rani, 2018)..
She also could have avoided the temptation of expanding too fast and test the waters
in her market. Her idea was good but the delivery was poor and therefore the business came
into a halt in 2014 However, Chinese products that were unsalable due to their quality did not
sell. Amanda should have gone to inspect the quality of the manufactured products before
delivery.

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References
Dees, J. G. (2017). 1 The Meaning of Social Entrepreneurship. In Case Studies in Social
Entrepreneurship and Sustainability (pp. 34-42). Routledge.
Hmieleski, K. M., & Sheppard, L. D. (2018). The Yin and Yang of entrepreneurship: Gender
differences in the importance of communal and agentic characteristics for
entrepreneurs' subjective well-being and performance. Journal of Business Venturing.
Kozubíková, L., Belás, J., Bilan, Y., & Bartoš, P. (2015). Personal characteristics of
entrepreneurs in the context of perception and management of business risk in the
SME segment. Economics and Sociology.
Lee, M., & Huang, L. (2018). Gender bias, social impact framing, and evaluation of
entrepreneurial ventures. Organization Science, 29(1), 1-16.
Parker, S. C. (2018). The economics of entrepreneurship. Cambridge University Press.
Pate, L., & Wankel, C. (Eds.). (2014). Emerging research directions in social
entrepreneurship (Vol. 5). Springer Science & Business Media.
Salavou, H., & Lioukas, S. (2018). An Empirical Juxtapose of the Effects of Self‐image on
Entrepreneurial Career along the Spectrum of Nascent to Actual
Entrepreneurs. European Management Review.
Sinha, S. K., & Rani, M. J. (2018). FACTORS LEADING TO SUCCESSFUL WOMEN
ENTREPRENEURS: A ANALYTICAL STUDY IN HARYANA. INDIAN
JOURNAL OF APPLIED RESEARCH, 8(1).
Storey, D. J. (2016). Entrepreneurship and new firm. Routledge.

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