Entrepreneurship Report: Coco Chanel's Motivation and Characteristics

This report provides an analysis of Coco Chanel's entrepreneurial practices, focusing on the application of motivation theories within her business. It examines the influence of Maslow's need hierarchy, McClelland's achievement, affiliation, and power needs, as well as Vroom's expectancy theory on employee motivation. The report further outlines key characteristics of Coco Chanel as an entrepreneur, such as her motivation, vision, passion, confidence, and decision-making processes, which contributed to her success. The report concludes by summarizing the impact of these theories and characteristics on Chanel's organizational culture and achievements. The report is a valuable resource for understanding the practical application of motivation theories in a real-world business context.

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Table of Content
INTRODUCTION
Motivation Theories
McClelland – Need for achievement, affiliation and
power
Vroom’s expectancy theory
Characteristics of Entrepreneur
CONCLUSION
REFERENCES

INTRODUCTION
 Entrepreneurship is defined as converting a business idea into a successful
business model.
 This report is based on the case study of entrepreneur Coco Chanel in
respect to its entrepreneurship practices.
 Henceforth, report will emphasis on the theories entrepreneur use for
motivation.
 Characteristics of entrepreneur will also summarise in this project.
 With the support of model theory used by entrepreneurship will be discussed
to motivate itself and other individual part of the organisation.

Motivation theories
Maslow need hierarchy
 Maslow need hierarchy is a model used to
motivate the employees of company.
 Entrepreneurship is an independent process
of conducting business operations.
 This model segregated needs into different
parts that project physiological need, safety
and security, belongingness and love,
esteem and self actualisation needs.

McClelland – Need for achievement, affiliation and power
Achievements motivation
 Achievement motivation is another key motivation technique that can support the entrepreneur to motivate
its human resources.
 Coco Chanel tries to support the employee’s part of the organisation towards achieving the heights in career.
Affiliation
 This is another key approach to motivate human resources associated with the business.
 In this practice Coco Chanel facilitate all such individuals’ part of the organisation that could perform
productive operations and functions they needed to perform.
Power
 In this approach entrepreneur Coco Chanel allocate powers to all such employees who are productive and
efficient in the organisation.

Vroom’s expectancy theory
 This is a key theory of employee motivation that is used by the entrepreneur Coco Chanel to
motivate its human resources associated with the organisation.
 In this theory on the basis of the expectations of employees they allocate suitable resources in
form of salary, incentives and various other resources.
 All these resources are capable to meet the expectations of the employee’s part of the
organisation.
 This is the best practice to motivate employee’s part of the organisation.

Characteristics of Entrepreneur
Motivation
 Coco channel’s owner is highly motivated it is in basic nature.
 It helps in achieving long terms goals on time and also able to inspire other
by energetic approaches.
 Entrepreneur remain positive while dealing in any situation for instance
company has failing in some project but the outlook of him remain goods
which encourage to do same and hence firm will be able to handle business.
 Ideology of the person is to do anything in right way but in any case failing
then learn from it.

Cont..
Vision
 Vision of the founder remain align with objective of the company and hence
able to handle and deal various kind of challenges that comes in the path.
 In the beginning entrepreneur set aims as well as goals and describe the way in
which it will achieve.
Passion
 Passion is another characteristic that can be easily found in entrepreneurs for
example founder of COCO channel always want to successful business man
and run the company is best way.

Cont..
Confidence
 One of the important characteristic that Coco channel’s owner has is confidence.
 Entrepreneur remains confident about work and able work accordingly.
 They remain sure about the things that they are supplying to customers which attract
large number of customers.
Decision Making
 It is important that decisions are wise and correct to run the firm and any
miscommunication can lead to destroy of the project.
 Firms take decision after analysis and taking suggestion, opinion and feedback from
others and hence right things can be done in the organisation.

CONCLUSION
 Theories such as need hierarchy, expectancy theory and other such theories are used
by the entrepreneur Coco Chanel to motivate its employees part of the organisation.
 Maslow need hierarchy model is a technique that is used to fulfil the needs and
requirements of the human resources in order to motivate them.
 Expectancy theory is all about motivating human resources associated with the
organisation on the basis of the different needs and requirements of such employee’s
part of the organisation.
 Coco Chanel carries characteristics like focused, positive and hardworking and
certain other characteristics that allow him to achieve the massive success in such a
short span of time.

REFERENCES
 Barber, A. T. and Klauda, S. L., 2020. How Reading Motivation and Engagement Enable
Reading Achievement: Policy Implications. Policy Insights from the Behavioral and Brain
Sciences. 7(1). pp.27-34.
 Borgardt, E., 2017. Motivation and Consumer Behaviour. Konsumpcja i Rozwój, (4 (21)),
pp.5-22.
 Eniola, A.A., 2017. Entrepreneur-firm characteristics and financing sources. International
Journal of Research Studies in Management, 6(2), pp.13-21.
 Fan, R. and Wang, M., 2019, September. Family-based consent and motivation for cadaveric
organ donation in China: An ethical exploration. In The Journal of Medicine and
Philosophy: A Forum for Bioethics and Philosophy of Medicine (Vol. 44, No. 5, pp. 534-
553). US: Oxford University Press.