Case Study: Elizabeth Gooch and EG Solutions Plc - Entrepreneurship

This case study examines Elizabeth Gooch, the CEO of EG Solutions Plc, and her entrepreneurial journey. It delves into her background, motivation, and the factors that contributed to her success in the information technology and software sector. The case study provides an overview of EG Solutions, including its size, industry sector, and international operations. It explores Gooch's prior work experience, personal interests, and the challenges she faced in starting her business. The study also analyzes her future plans for EG Solutions, her definition of success, and the advice she would give to other potential entrepreneurs. The case study further highlights the importance of passion, self-confidence, focus, and hard work as key elements of entrepreneurial success. It also emphasizes the significance of adapting to technological advancements and meeting customer needs in the dynamic business landscape. The document is available on Desklib, a platform offering AI-based study tools for students.

Assignment 1 bmg936

Contents
INTRODUCTION...........................................................................................................................1
PROJECT A.....................................................................................................................................1
PROJECT B.....................................................................................................................................4
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Entrepreneur is a person who converts his/her innovative and creative ideas in to business. A
businessperson is a person that makes a new business, demeanour most of the threats and take
pleasure in most of the remunerations. The business person is ordinarily observed like a
modernizer, a basis of new thoughts products, facilities and producers (Elo and et. al., 2018).
This case study is about global businesspersons who make worth with prosperity and that
businessperson will be investigating in this case study as how become businesspersons and what
things encouraged them to accomplish something out of box. This case study is about Elizabeth
Gooch as a businessperson and her approach to entrepreneurship as well as what encouraged her
to become a victorious industrialist and hi approaches regarding entrepreneurship.
PROJECT A
Entrepreneur is a individual that generates a new commerce, bearing most of the risk and
takings pleasure in most of the remuneration. The businessperson is usually seen like a creator, a
basis of innovative thoughts, products, facilities and commerce or processes. Industrialists take
part in an important function in any financial system, utilising the abilities and plan essential to
expect requires and carry superior innovative thoughts to market place (Rive, 2018). This case
study is based on a successful business person Elizabeth Gooch who is the CEO of EG Solutions
Plc.
Profile of firm
REF. DESCRIPTION RESPONSE
1.1 Company age EG Solutions Plc
1.2 Size (no. of employees/sales turnover) There are 68 workers make their contribution in running
the business of firm. The annual revenue of the company
is $10million.
1.3 Industry sector
Main offerings (try and get on-line
brochures, materials etc)
This organization functions its business in Information
technology and software sector.
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INTERNATIONAL ENTREPRENEURSHIP RECORDS
Company: EG Solutions Plc Entrepreneur: Elizabeth Gooch Researcher:
Location: Duston Staffordshire, UK

REF. DESCRIPTION RESPONSE
1.4 Main Markets
Domestic/International
B2B B2C
The corporation operates its business in both domestics
and international markets. The enterprise specializes in
back office workforce optimization, operational
intelligence, and back office optimization, anti money
laundering, performance management and forecasting &
planning.
1.5 If international, no. of markets
Percentage of sales as exports
EG Solutions Plc function its business in 180 nations and
international markets where the firm sales as exports 80
percent products.
Demographic profile of Entrepreneur
REF. DESCRIPTION RESPONSE
2.1 Age, gender, education, marital status, etc Elizabeth Gooch is the founder of EG solution Plc. She is
57 years old married women and she completed her
education for Wolgraston High School, Penkridge.
2.2 Prior work experience/s
Worked for/owned another business? She has lot of work knowledge as in age of 18 she work in
HSBC Bank and after that she started her own business,
EG Consulting.
2.3 Personal interests, specialist training, etc.
2.4 Other relevant/interesting information
Motivation to start business
REF. DESCRIPTION RESPONSE
3.1 What factor/s motivated entrepreneur to
start up
Passion, resilience, high sense of self, vision and many
more are some motivational components which encourage
her for start up.
3.2 What levels of support did he/she get from:
Family & friends
Spouse/partner
She get an effective support from her family as she is one
from ethnic background that embraces hard work and the
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REF. DESCRIPTION RESPONSE
Government agencies
Financial institutions (banks etc.) role played by her ethnicity such as innovative. She also
gets proper support from government agencies and banks
in term of raising fund for her business.
3.3 What start-up barriers did they face?
(eg lack of finance/management expertise,
etc
She suffered different obstacles regarding start up in tern
of lack or management expertise because she has not high
education in management field. Along with this lack of
capital also affect her startup due to not have a strong
fiscal position.
3.4 How did they overcome these barriers? With the help of her prior work experience like working
as HSBC bank and setting up own company EG
Consulting. She overcome her financial and management
related issues.
3.5 What challenges do they currently face? The main disputes that are suffered through EG solution
are fast technology progression, maximizing customer
needs, time limits, imperfect communications, variances
with software testing groups etc.
Future Plans
REF. DESCRIPTION RESPONSE
4.1 How has business changed/grown Due to arising changes and advancement in technology,
the business of IT and Software sector grown and
changed.
4.2 What future plans do they have for the
business
Expand/maintain/divest
The upcoming time chart of the company is make
expansion in its business in term of operational
intelligence.
4.3 What future ambitions do they have for
themselves
The future goal of EG solution is to make growth in the
business and make change by adopting advance
technology.
4.4 What do they consider to be the secret/s of
their success To be the underground of achievement they consider self
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REF. DESCRIPTION RESPONSE
confidence, motivation, passion, focus and hard work.
4.5 What advice would they give other potential
entrepreneurs Learn the rivalry, investigate new goods and facilities,
don’t undertake large market at first, listen to consumer
feedback and respond to change are some advices for
potential businesspersons.
PROJECT B
In the world of globalisation, without the function of a businessperson community cannot
endure. An industrialist is someone encouraged and inspired by modernism, imaginative
thoughts, starting his/her own commerce rather than doing work and earn the long term aims
through accomplishing profitability. Concentrate on the significance of individuality attribute
can be associated to the attraction of investigators over the features of the entrepreneur’s
behaviour (Klapp, 2019). Furthermore, the individuality of a businessperson can be analysed
through the features and propensity of execution regarding the emotional viewpoints. Essential
ascription fault directs to the supposed insight and common school of thought that behaviour
qualities involve to victorious industrialist execution rather than outside and environmental
components.
This case study is about Elizabeth Gooch, She is founder and CEO of EG solution and a
technological entrepreneur. Gooch established a small corporation which sells operations
administration software that assists consumers to make developments in operational performance
and productivity. EG Solutions prides itself on executing its programmes on fixed cost, fixed
time frame basis. It is the only venture that guarantees return on investment and its sales
revenues are supported to the outcomes brought. A distinctive execution plan pays itself within
six months. Elizabeth started work for HSBC Bank aged 18 but left after only 12 months to work
for a consultancy that enabled large companies in identifying better modes to utilise their staff.
Eight year later, she started her own business, EG consulting aged 26, financed by £1000 rented
from family and friends and a credit card. This company initially provided consultancy and
training on operations administration to social services organisations. In its first year, turnover of
the company reached £600,000. Moreover, the difficulty of gathering the data require to advice
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on developing effectiveness led Elizabeth to develop software to assist in the task. In 1993, the
software known as operational intelligence, was opened because a product in its own right. It
permitted information and data to be gathered in real time, assisting all deSectionments of an
organisation to determine the manufacturing activity. At the point, the business has six workers,
different agreement employees and a turnover of £1 million. In 2005, the firm modified its name
to EG Solutions Plc, with Rodney as the Chairman involved as a strategic planning expert to
assist in improving the business in absorbed manner. The strategy workers, maximising turnover
by 28% in year to £4.2 million. The commerce required further wealth to finance an ambitious
development target so; Elizabeth determined to float the enterprise on the Alternative investment
market rather than approaching venture Capitalists, so as to keep control of the commerce
(Crookell, 2018). There are several factors like passion, focus, motivation etc. which motivate
her to start up a business such as EG Solutions Plc. Apart from this, in current era, advancement
in technology and increasing consumer demand influence business of Information technology
and software sector.
CONCLUSION
This has been summarised from the defined information that to be a successful business
person, the individual should be passionate, confident, focused and hard worker. There are
different factors which assist them to be a successful entrepreneur like passion, resilience, high
sense of self, vision and many others. Along with this, for effective management and operations
of enterprise a good knowledge and experience is also crucial which help in running, surviving
and sustaining a new business in competitive marketplace. There are several factors like changes
in technology and consumer needs, finance etc. which affect the growth of business. By updating
with particular business sector, the businessperson can deal these kinds of barriers.
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REFERENCES
Books & Journals
Elo, M. and et. al., 2018. Advancing the views on migrant and diaspora entrepreneurs in
international entrepreneurship. Journal of International Entrepreneurship, 16(2), pp.119-133.
Rive, V., 2018. Anatomy of an international norm entrepreneur: The friends of fossil fuel
subsidy reform.
Klapp, M.G., 2019. The sovereign entrepreneur: Oil policies in advanced and less developed
capitalist countries. Cornell University Press.
Crookell, H., 2018. Specialisation and International Competitiveness 1. In Managing the
multinational subsidiary (pp. 102-111). Routledge.
Manesh, S.M.Z.E. and Rialp-Criado, A., 2019. International ecopreneurs: The case of eco-
entrepreneurial new ventures in the renewable energy industry. Journal of International
Entrepreneurship, 17(1), pp.103-126.
Petrovskaya, I. and Mirakyan, A., 2018. A mission of service: social entrepreneur as a servant
leader. International Journal of Entrepreneurial Behavior & Research.
Elo, M. and Minto-Coy, I., 2018. Diaspora networks in international business. Springer,
Heidelberg.
Mostafiz, I. and Goh, S.K., 2018. International women entrepreneurs and international
opportunity recognition skills for start-up ventures. Journal for International Business and
Entrepreneurship Development, 11(3), pp.201-220.
Martinelli, E., Tagliazucchi, G. and Marchi, G., 2018. The resilient retail entrepreneur: dynamic
capabilities for facing natural disasters. International Journal of Entrepreneurial Behavior &
Research.
Online
Elizabeth Gooch And EG Solutions PLC. 2020. [Online]. Available Through:
<https://www.chegg.com/homework-help/questions-and-answers/case-study-1-elizabeth-gooch-
eg-solutions-plc-2006-management-today-named-elizabeth-gooch--q27366694>.
Recommended cash offer for EG solutions plc. 2020. [Online]. Available Through: <
https://www.londonstockexchange.com/news-article/market-news/recommended-cash-offer-for-
eg-solutions-plc/13351600?lang=en>.
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EG Solutions. 2020. [Online]. Available Through: < https://www.zoominfo.com/c/eg-solutions-
plc/359166386>.
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