Strategic Analysis of Souq.com: Entrepreneurial Marketing and Growth

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This report examines the entrepreneurial marketing models and strategies employed by Souq.com to achieve significant growth in the Middle East. It highlights the entrepreneurial traits and mindset of CEO Ronaldo Mouchawar, identifying key factors such as enthusiasm, confidence, and leadership. The report explores internal weaknesses in organizational capabilities and delves into crafting marketing strategies and the application of the evolution and revolution model. It also investigates innovation, creativity, and enterprising elements through Maslow's Hierarchy of Needs. The conclusion suggests expansion strategies, partnership programs, and the importance of financial expertise during business downturns. Desklib provides access to similar solved assignments and past papers for students.
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Executive Summary
The primary motive and objective of the research report are to find out the entrepreneurial
marketing models, strategies, theories for identifying the critical areas for the growth of the
organisations in the Middle East. The Souq.com has been chosen as the organisation in the
middle, and its chief executive officer has maintained the growth of the organisation. One of
the valued reasons for choosing souq.com as the major entrepreneurial growth organisation
because they have secured the position of the wealthiest organisations of the country and also
in the middle east. The souq.com has been the largest e-commerce websites of the country
and its chief executive officer, Ronaldo Mouchawar has been one of the most important
figures in the business sphere as he is known as the 'Amazon of the middle east'.
The crafting marketing strategies are also followed by Souq.com and its chairpersons for the
ultimate growth and success. The plan is one of the important policies that question the
organisation about how the leadership will use the available resources, competencies,
combinations and the capabilities of the organisation. The organisational aspect has been
described based on Maslow Hierarchy of Needs and the model of evolution and revolution.
At the last stage of the report, it can be observed that the chief executive officer of the
Souq.com should expand their business in the other continents apart from the countries of the
middle east. The officers and the leaders of the organisation should attempt for a 50-50
partnership program with the other business giants of the market. At the time of the downfall
of the business, the entrepreneurs should speak with the financial experts and advisors for
enhancing the total productivity of the organisation.
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Table of Contents
Introduction................................................................................................................................3
Reason behind choosing the particular entrepreneurial growth organisation............................4
Exploring the entrepreneurial traits and mindset of the entrepreneur........................................5
Exploring the internal weakness in the capabilities...................................................................7
Entrepreneurial marketing strategies..........................................................................................8
Entrepreneurial marketing models.............................................................................................9
Exploring the innovation, creativity and enterprising elements...............................................11
Outline the opportunities for sustainable growth.....................................................................13
Conclusion................................................................................................................................14
Recommendation......................................................................................................................15
References................................................................................................................................16
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Introduction
The United Arab Economic Development Association and the finance ministry of the
government have collaborated for measuring the economic development of the country and
promoting the large companies in the country (Jamali and Lanteri 2016). The financial
department of the state has also created and tried to expand the future of the entrepreneurial
growth companies in across the entrepreneurial circle of the region. Souq.com is recognized
to be one of the largest ecommerce companies in UAE. The CEO of the company is Ronaldo
Mouchawar. In this project, the entrepreneurial strategies, traits, mindsets of the
entrepreneurs have been discussed. In the year 2009, he developed partnership with the
Jabbar Internet Group. It contributed in the growth of the company effectively. Exploring the
weakness in the competencies of the resource available has also been described along with
the exploration of the innovation, creativity, and active elements regarding sustainable
growth. In this report, the outline the opportunities for sustainable growth.
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Reason behind choosing the particular entrepreneurial growth organisation
One of the valued reasons for choosing souq.com as the major entrepreneurial growth
organisation because they have secured the position of the wealthiest organisations of the
country and in the middle east. It is noted that the management of the company has become
successful to brand it as 'Amazon of the middle east'. In the year 2009, and he has featured
his organisation as the entrepreneurial growth organisation became the partner with the
Jabbar Internet Group in the very first year of establishment. Till date, they have listed over
600,000 products, which includes the fashion garments, household essentials and electronic
gadgets. In the past ten years they have attracted over 42 million customers, and thus they
have the capital of $150 million. They have earned $75 million in the last five years and have
an employee strength of 2000 in the present date (Jamali and Lanteri 2016). Souq.com has
been one of the great examples of the entrepreneurial growth organisations in recent years in
the Middle East.
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Exploring the entrepreneurial traits and mindset of the entrepreneur
There have been a lot of entrepreneurial traits, and the core mindset of the entrepreneurs
come from the characteristics that are listed below. In the same manner, Ronaldo Mouchawar
has gone through the same features that are being listed below.
Enthusiastic: The enthusiasm has been one of the essential natures of the entrepreneurs, and
they should be much enthusiasm for establishing a business to fulfil the objectives of the
entrepreneurial growth organisations (Caputo et al. 2016).
Confident: The confidence has been one of the essential traits of the entrepreneurs, and it is
unusually for the optimum growth of the business. The chief executive officers and the
owners of the large organisations follow the traits for enhancing the growing proportion of
their organisations.
Passionate: All the owners and the entrepreneurs of different organisations in the middle east
are excited about their entrepreneurial growth organisations. Such as Ronaldo Mouchawar,
was also passionate at the time of establishment of Souq.com and that is why the organisation
has become the largest among all in recent years.
Optimistic: The leaders and the executive are much passionate and confident about the
entrepreneurial growth organizations, and they focus on their future task and observations.
Leadership quality: All the entrepreneurs, especially in the middle east, have their leadership
qualities for guiding out the business procedures and managing out all his subordinate staffs
in the organisation (Jamali and Lanteri 2016).
Practical: All the leaders of the large organisations are possible, and they believe in the
performance of the work. They motivate all the leader and manager of the organisation with
the help of a practical viewpoint. Such as Ronaldo Mocha ware also has functional traits by
which he has become one of the wealthiest people in the middle east.
Visionary: Especially in the large organisations of the middle east, the owners and the chief
executive officers have their great visionary capability, and they can see the future of the
entrepreneurial growth organisations very well.
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Risk Taker: The chief executive officers of the large organisations in the middle east are the
major risk takers, and this has been one of the essential traits of an entrepreneur, who can
drive entrepreneurial growth organisations for success (Jamali and Lanteri 2016).
Figure 1: Entrepreneurial Traits
(Source: Bosma et al. 2016).
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Exploring the internal weakness in the capabilities
It can be recognised that there are five internal weaknesses in the skills of the entrepreneurs,
especially in the organisations in the middle east.
These three internal weaknesses are listed below
Inadequate management of time: There are some managers and the chief executive officers
in the organisations of Middle East, where they maintain very unusual working hours for the
employees. They fix a working hour of 14 hours, which is not normal for the employees and
it creates a massive problem in the organisational culture (Caputo et al. 2016).
Hesitance at the time of the delegation: It has been one of the standard features for the
entrepreneurs of organisations in Middle-East countries which show high entrepreneurial-
growth. At the time of handling thousands of employee under a single roof, the chief
executive officer or the leader of the company feels hesitant in giving them the exact
directions and problem-solving solutions (Tlaiss 2015).
Biased Perspectives: There are many officers and managers in the entrepreneurial growth
organisations, who have a biased perspective about the course of the business and they do not
have that assumption about the business in the next ten years. At that time, they step for
external feedbacks for the betterment of the organisation (Bastian and Zali 2016).
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Entrepreneurial marketing strategies
The crafting marketing strategies are the specific entrepreneurial strategies that boost and
enhances the entrepreneurial growth organisations to its highest point.
Crafting Marketing Strategy
Souq.com and its chairpersons for the ultimate growth and success also follow the crafting
marketing strategies. The plan is one of the important policies that question the organisation
about how the leadership will use the available resources, competencies, combinations and
the capabilities of the organisation. The crafting marketing strategies also describe the
information to the leaders for managing out different circumstances for the growth and
achieving particular goals and objectives (Sauka and Schneider 2016).
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Entrepreneurial marketing models
One of the most critical Entrepreneurial marketing models has been model of evolution and
revolution, which enhances the productivity of the business and drives the growth for the
organisation within a limited time frame. Souq.com has also use model of evolution and
revolution for achieving their desired goals and objectives.
The model has been described below
There are various phases of evaluation as the business grows from the incubation stage to the
maturity stage. These phases are associated with different crisis and growth opportunities.
The various aspects of these phases of the business have been discussed as below.
Phase One: In this phase, the business is faced with various degree of challenges and issues
related to lack of resources. Therefore, the crisis results in the leadership of the management.
The company is required to take effective creative measure to make the business competitive
(Bennett, 2014).
Phase Two: In this phase, when the business will be reckoned as an young organisation, the
company would require to follow effective measure to set the direction of the business
effectively. The company must access effective accounting or technological system to assess
the market or organisational data to take the right decisions (McNamara, 2014).
Phase Three: In this phase of the business, the decentralised structure evolves. The
management finds it difficult to control the expanding operations. Thus, crisis of control
emerges. This crisis can be solved through delegation of tasks effectively (McNamara, 2014).
Phase Four: In this stage, the company becomes matured. The management faces problem of
red tapism. Since, they get lot of projects and tasks to be completed. Due to poor
management of time and ineffective delegation of duties, the projects are not completed on
time. Thus the company develops many operational issues. It can be solved by effective
coordination of management and employees to meet the demand of customers effectively
(Bennett, 2014).
Phase Five: In this stage, the company reaches the optimum level of maturity. It develops
many organisational issues. As the business expands and company gets various projects, it
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faces issues related to poor management. Thus, this problem can be solved better with the
help of effective collaboration (McNamara, 2014).
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Figure 1: Evolution and Revolution
(Source: (McNamara, 2014))
Exploring the innovation, creativity and enterprising elements
The large organisations in the middle east explore their innovation, creativity and their active
elements with the help of Maslow Hierarchy of Needs. The Maslow Hierarchy of needs has
been one of the important theories in Exploring the innovation, creativity and active elements
regarding sustainable growth. Souq.com has also used the same Entrepreneurial Marketing
Theories for their business success.
Physical Needs: The natural needs and the good health of the employee are many important
factors behind the success of the organizations, and thus all owners should maintain and
supply the physical needs to the employees (Sulphey and Alkahtan 2017).
Security: The Maslow Hierarchy of needs has been one of the essential Entrepreneurial
Marketing Theories, which provides the idea for the optimum lack of stability, shelter and
safety of the employees in the organisation (Hasan and Almubarak 2016).
Social: The social needs are much needed for the success of the organization, and it includes,
belongingness, inclusion, and love of the customers for the growth of the organisation.
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