Entrepreneurship Report: She Wear Business - Case Study and Analysis

This report provides an in-depth analysis of She Wear, an Australian business specializing in women's safety work boots, as a case study in entrepreneurship. The report examines the entrepreneurial traits and characteristics of the founder, Stacey Head, including her visionary thinking, creativity, leadership skills, and risk-taking abilities. It explores the company's innovative approach to addressing a market gap by offering stylish and functional safety footwear for women. The report also delves into the application of entrepreneurship innovation theory, assessing how it aligns with Stacey Head's business strategies and decision-making. Through interview questions and detailed analysis, the report highlights the factors that contributed to She Wear's success, providing valuable insights into the challenges and rewards of starting and managing a business in a competitive market. The document concludes by summarizing the key takeaways and emphasizing the importance of traits like self-motivation and competitive spirit for entrepreneurial success.

Entrepreneurship

EXECUTIVE SUMMARY
This report is based on the Entrepreneurship that has now become a one of the most
crucial part of a world and economy of a country too. This is because entrepreneurship support in
bringing larger number of innovative and creative ideas in a marketplace that contribute toward
resolving the issue that public is facing. For performing this report She Wear company has been
consider which is an Australia based small business enterprise that is based on unique concept or
idea i.e. offering of safety work boots that are specially designed for the women in order to
provide them more choices. This is because previously boots are basically formed only for the
men regarding their work and women have to use them only. Hence to provide women options
this business has been established. In this investigation it has been found that there are number of
traits as well as characteristics are present within a person which foster them toward a particular
direction of work that help them in gaining success. The characteristics or trait which the founder
of She Wear i.e. Stacey Head have are Creative thinker, Visionary, Competitive spirit, Risk
taker, Leader, Self motivator and many more which supported Stacey head the founder of She
Wear in gaining success in its business at Australian market.

Table of Contents
EXECUTIVE SUMMARY.............................................................................................................2
INTERVIEW QUESTIONS............................................................................................................1
INTRODUCTION...........................................................................................................................2
MAIN BODY ..................................................................................................................................2
Traits of entrepreneur.............................................................................................................3
Characteristics of entrepreneur...............................................................................................4
Theory of Entrepreneurship....................................................................................................5
Similarities and Differences...................................................................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTERVIEW QUESTIONS
Q1. What strategies helped to deal with the external factors?
Ans: Modify strategies as per dynamic environment and improve quality of products frequently
as well as add extra value to it. By performing such activities it will reduce the pressure of
external factors on business operations.
Q2. What are the traits that helped in becoming a successful entrepreneur?
Ans: Creativity, innovative ideas, visionary and good leadership skills. This will help to
become a successful entrepreneur and sustain business for long duration at competitive
marketplace.
Q3. What is the entrepreneurship theory that you have adopted for production of goods?
Ans:Entrepreneurship innovation theory is one of the effective theory that has been adopted.
This theory will help to innovate as well as improve quality of their product in productive
manner. By the help of this theory, unique and different products can be produced.
Q4. What strategy have been applied for growth and development of business?
Ans: In order to grow and develop business, the important strategy is to focus more on
customer so that it will easy to produce as well as introduce products as per the demand. This is
because it will help business to grow and sustain at competitive marketplace for long duration.
Q5. In order to become a entrepreneur, what characteristics are required to become
successful?
Ans: Characteristics such as risk taker, must have a competitive spirit and should be self
motivated. These factors will help to become a successful entrepreneur.
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INTRODUCTION
Entrepreneurship is refers to as the process of thinking, developing, organising and then
managing a business venture by taking up all the financial risk by their own in order to earn
profit and business sustainability (Baum, Frese and Baron, 2014). This report is based on the
small business entrepreneur, Stacey head who is a founder of She Wear company which was
established in year 2013 within Australia. It offer variety of stylish boots for safe work along
with other work accessories in order to provide larger number of options to women along with
trendy designs. All of the products that are offered by She Wear are designed within the
Australia and the safety footwear are being tested with the tough Australian/NZ standards and
also get certified by the BSI group. In this report there is a detail description regarding number of
traits as well as characteristics that Stacey Head have in her personality which supported them to
achieve success within the marketplace. In addition to this it also includes a description
regarding the entrepreneurship theory and comparison of it with several traits and characteristics
that Stacey Head have.
MAIN BODY
Entrepreneurship is defined as the process of creating, introducing and running totally a
new business by bringing some new or innovation idea which provide an assurance of market
sustainability (Blackburn, Hart and Wainwright, 2013). The concept behind the establishment of
this company is offering products for underwhelming options for women that are working within
the specialised field, trades and roles who are searching for good quality safety footwear.
Between the year 2006-2012 the Founder of company i.e. Stacey work for property
development and manage project renovation throughout the Brisbane for which she is searching
for the functional, comfortable but stylish boots for women (the she wear story, 2019). It was
totally a new concept where Stacey Head the founder of She Wear started offering safety work
boots that are basically designed for the women to fulfil their need which support the company to
get market success as well as sustainability. This plan get successful as Stacey Head holds up the
qualities as well as capability of becoming an entrepreneur and leading a business that get
accepted by the market. It become possible because there are certain skills as well as
characteristics that an individual holds which foster them to move ahead in particular direction
toward the accomplishment of desired goals for converting plan into reality (Carsrud and
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Brännback, 2011). The traits and characteristics of Stacey Head are mentioned below which
supported them to get success.
Traits of entrepreneur
Traits are basically refers to as some basic factors that are present within one's personality
which foster them in performing work in a particular way to accomplish the goals and objectives.
Stacey Head is one among them who brings a new idea to the market and work over
implementing it and proves to be successful by establishing the 'She Wear' company within the
market of Australia. The traits that she have which make her successful are mentioned below:
 Visionary:- An entrepreneur get successful who have a clear vision of what business will
perform and it focuses toward the articulating the goals, purpose or marketing position
for the business. This all support them in predict the upcoming future opportunities for
business so that proper pathway can be decided to work over them. Stacey Head is
visionary entrepreneur as she predict the requirement of working women regarding the
safety accessories to wear that are only created for the men and women have very limited
choice (Branson, 2013). But assessing such requirement she move forth to establish a
business by identifying the future market scope regarding this business and success in
marketplace that work toward fulfilling this need of women.
 Creative thinker:- An entrepreneur get successful within a business when they are able
to bring creative ideas to establish and manage a business. This trait support entrepreneur
in making connection between unrelated situation or event that leads to development of
more effective strategy which results into business success at marketplace. Stacey Head
is a creative thinker who established a business i.e. She Wear by bringing up a creative
idea of designing the safety work wear boots and other accessories which is a new
concept that support them in gaining success at marketplace.
 Leader:- An effective entrepreneur is one who have the capability to lead and direct its
team members toward the accomplishment of goals or objective of a business by
motivating them to perform work in particular manner. To become a successful
entrepreneur, leadership is very crucial so that efforts of people or a team can be directed
toward the success of business (Chrisman and et. al., 2012). Stacey Head is a great leader
who work over establishing a women based business and motivating larger number of
women to come and join the business and become a part of success. The success of She
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wear just become possible in such competitive market due to effective leadership that
Stacey Head has presented in order to keep employees aligned toward the business goal
and achieve success in the market of Australia.
Characteristics of entrepreneur
It refers to the special quality which make up a person, things or group of several
features that help in differentiating them from others. There are certain characteristics which
Stacey Head posses that supported her in performing the operations in effective manner toward
the success of business in the Australian market which are mentioned below:
Risk taker:- Taking risk within a business is very crucial when a person is starting it as
this support in going a step beyond as compare to others competitors by brining new things to
business. An entrepreneur get successful when they take up all the risk in order to set up business
by working toward an aim to get succeed in marketplace (Dennis Jr, 2011). Stacey Head is a risk
taker entrepreneur who take up all the risk in term of finance, market competition and other
related with the establishment of a business by operating the work force of women only. These
all are the factors who have presented greater challenges in front of Stacey Head but despite of
all these she take up all the risk and proves to be a successful entrepreneur with the Australian
market.
Competitive spirit:- In order to achieve success at marketplace it is very crucial for a
business person to stay competitive to the challenges as well as risk that are present in
marketplace. This is because there are number of options as well as alternatives are already
present in market which affect the business by attracting the customers toward their own
business by offering several benefits. Stacey Head is a competitive spirit as it alone took the
responsibility of establishing a business which is over a new concept but work over a same slope
of practices i.e. footwear (Drucker, 2014). But to get this business idea into existence she tried so
harder to deal with existing business person in the market and make its business idea popular
among the people by presenting the information regarding this and benefits that female will get
by availing the product or services offered by She Wear company.
Self motivated:- In order to become a successful entrepreneur it is very essential for a
person who have self motivation toward the work they are performing and doesn't require
external stimuli for getting motivated toward performance of a particular task. This is because,
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entrepreneur have to go through several difficulties or challenges which can only be resolved
with the help of self-motivation only which foster a person to move forth for achieving success.
Stacey Head is a self-motivated person who with one single idea move toward planning and
establish it in the form of a business which is only become possible with the confidence as well
as motivation that she holds toward her ideas (Fassin, Van Rossem and Buelens, 2011). This
characteristics of her support in getting success at marketplace and now she become a successful
entrepreneur in the market of Australia.
Theory of Entrepreneurship
There are different concepts or theories which plays a vital role in every entrepreneur
behaviour as it provide proper guidance or direction to them and help them to come up with
novel ideas or views that lead them to obtain higher level of profit maximisation in an effective
manner. However, Stacey who is one of the leading entrepreneur in Australia who runs a
business as a sole owner with an aim of making profit even though she encounter a lot of
challenges or obstacles during accomplishing her vision or mission (George and Bock, 2011).
Hence, based on her traits or characteristics entrepreneurship innovation theory is viewed as a
suitable match for comparing her behaviour towards accomplishing business goals or objectives.
IN regard of Stacey, she takes an initiative to examine Australia market trend and based on that
she establishes her own company i.e. She Wear which deals into accessories or footwear for
women which generate increased level of satisfaction (Goss, 2015). Some of the comparison
between traits or characteristics of Stacey with entrepreneurship innovation theory are discussed
below:
 Innovation of new products: This feature signifies that producing new or fresh products
within existing marketplace which consumer have no seen before or consumed it by any
other brand. Moreover, this enable company to enhance their productivity as well as
lower the cost of production(Karlan and Valdivia, 2011). Hence, in context of Stacey, she
is creative thinker which encouraged her to bring novel process or item which was not yet
been introduced by any other firm in Australia market.
 Innovation in management: Under this element, it refer to rearranging and
reconciliation the position of company within current marketplace by generating
monopoly like control existing dominance of other among an industry. Henceforth, in
context of Stacey she contains a characteristics of competitive spirit which encouraged
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her to identify existing or emerging scenario or economic condition of marketplace as
well as help her to implement best strategic decision that lead her to gain competitive
advantage in an impressive or productive manner (Jones and Rowley, 2011). Moreover,
this characteristics enable her to bring modification in existing product i.e. safety
footwear or equipments for which she delivered for women that improve the life standard
of society as well as enriched their morale in an better manner.
However, the above explained theory states that entrepreneur re considers as a key player
for the growth or development of economic as it provides enormous employment opportunities
as well and enhance the life style of each individual in an impressive or innovative way.
Additionally, innovation is major determinant which lead Stacey to survive within Australia
market as well as gain competitive advantage in a creative style within prescribed time period.
Similarities and Differences
Similarities: As per the entrepreneur innovation theory, it was easy for Stacy Head to
adopt it. This is because being a creative thinker and innovator she was able to apply this theory
on its product and services. This act as a motivator for her as well as it also boost her confidence.
Differences:Lack in the characteristics in thrust for more, is one of the difference
between Stacy Head and respective theory. Due to this, she is being satisfied from the existing
product due to which she is not able to apply the respective theory in effective manner.
CONCLUSION
From the above mentioned information it can be said that entrepreneur are the one who
take up all the risk with an aim to set up a business and achieve market success. The
entrepreneurs support in improving the living standards of people by bring new or creative idea
to set up the business in order to resolve the issues that people are facing. But to become
successful there are certain characteristics as well as traits that a person have which foster them
to achieve market sustainability by dealing with all the challenges which includes Creative
thinker, Visionary, Competitive spirit, Risk taker, Leader, Self motivator and many more.
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REFERENCES
Books & Journals
Baum, J. R., Frese, M. and Baron, R. A. Eds., 2014. The psychology of entrepreneurship.
Psychology Press.
Blackburn, R. A., Hart, M. and Wainwright, T., 2013. Small business performance: business,
strategy and owner-manager characteristics. Journal of small business and enterprise
development. 20(1). pp.8-27.
Branson, R. 2013. Richard Branson on Taking Risks.
Carsrud, A. and Brännback, M., 2011. Entrepreneurial motivations: what do we still need to
know?. Journal of Small Business Management. 49(1). pp.9-26.
Chrisman, J. J. and et. al., 2012. Family involvement, family influence, and family‐centered non‐
economic goals in small firms. Entrepreneurship theory and practice. 36(2). pp.267-
293.
Dennis Jr, W. J., 2011. Entrepreneurship, small business and public policy levers. Journal of
Small Business Management. 49(1). pp.92-106.
Drucker, P., 2014. Innovation and entrepreneurship. Routledge.
Fassin, Y., Van Rossem, A. and Buelens, M., 2011. Small-business owner-managers’ perceptions
of business ethics and CSR-related concepts. Journal of Business ethics. 98(3). pp.425-
453.
George, G. and Bock, A. J., 2011. The business model in practice and its implications for
entrepreneurship research. Entrepreneurship theory and practice. 35(1). pp.83-111.
Goss, D., 2015. Small Business and Society (Routledge Revivals). Routledge.
Jones, R. and Rowley, J., 2011. Entrepreneurial marketing in small businesses: A conceptual
exploration. International Small Business Journal. 29(1), pp.25-36.
Karlan, D. and Valdivia, M., 2011. Teaching entrepreneurship: Impact of business training on
microfinance clients and institutions. Review of Economics and statistics. 93(2). pp.510-
527.
Online
the she wear story. 2019. [Online] Available through: <https://www.shewear.com.au/us/>./
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