Entrepreneurship - Australian Entrepreneur -Assessment Answer

Entrepreneurship Assignment

Assignment Task

Analyse an Australian entrepreneur of your own choice.

• Discuss the history, development and growth of the entrepreneur to see what made this person successful?
• Discuss the role of their family and socio-cultural background in the development of their entrepreneurial passion
• Discuss the type of businesses they developed and the competitive advantage of the business compared to other entrepreneurs
• Discuss future suggestions for the entrepreneur including different types of businesses or avenues (eg selling their business) they may take

Introduction

Jessica May is the founder of Enabled Employment and she is one of the top most female entrepreneur of Australia(Employment, 2016). She established this venture in the year 2014 and there is a very touching story behind this. This Young Canberra entrepreneur faced difficulties in finding job for herself after maternity and this lead to establishment of the venture which is fondly known as Enabled employment. After giving birth to her first child she was diagnosed with a disorder. She said that her employer made various assumptions about what she needed to manage the anxiety and that was when all her work got away from her and as per her that was the worst outcome. This is the thought that has been developed into a business idea and by showing her entrepreneurial skills Jessica conceptualised this idea and made it work(Watson, 2011). The major idea behind the establishment of the firm is to provide employment to all those who need a job ad are disabled. Jessica was judged by his employer and this influenced her lot to develop something like this for disabled people.

This makes it very clear that Enabled employment tends to work with the employers who want to hire employees for different positions in their organisations with different skills. The firm has developed into a platform that provides opportunities to people with disability who have skills to bring a positive change within the organisation. Enabled Employment is an online and for-profit service to hire labour and it has grown very quickly in no Matter of time. The firm presently employs six staff who manages various operations in the organisation. As a matter of fact the turnover of the firm is over $500,000 in this financial year and the revenue is $ 2 Million(Employment, 2016). This figure is very profitable and it shall also be noted that the firm has not even completed two years. For its noticeable contribution and success the firm has also won Australian Startup Award at the Telstra Business Women’s Award. This is something that helped May to spread awareness about this and it also sent out a strong message to big corporate (Priem et al., 2012).

Jessica May tells in an interview that here biggest influence behind establishing this firm is her mother and her values. She says that her values are very strong and it totally supports and enabled her to use her entrepreneurial skills. She also adds that the reason behind the immense development of the firm is that she took this risk and thinks something innovative. As per her, the two biggest strengths that she possesses is ability to think innovative and take risk to conceptualise it. This is because of the two above mentioned skills that she could develop the firm into a successful venture. Thus the rapid growth of the firm is attributed to the skills and ability of the entrepreneur (Ashworth, 2011). The firm has also expanded its network and now it has a number of companies as its collaborators. This suggests that rapid growth and development took place in the company.

Entrepreneur background analysis

The nature of firm that Jessica May has established is nowhere connected with the family background. It generally happens that the entrepreneurs go for the same idea already established in the family. In this case the background of Jessica is not something that relates directly to the Enabled Employment. Jessica’s mom was a trailblazer sort of women and she studied electronic engineering in the year 1980 and she was indeed the first women at that time in the field of electronic engineering. Thus her mother from electronic engineering and she now deals in human resource practices(Ferreira et al., 2015). This is why there is no contact between her family background and her present work. But there is one thing in common that is doing something that is different. Her mother also did something that was different and she is also doing something that is different. It can be said that there is relation of her firm’s establishment with her socio-cultural background. This is n he terms that she was diagnosed with a panic disorder and due to that she lost her job. After that she understood the pain of all those who are suffering from some disorders in the society and are not able to utilise their skills in a significant manner(Barret & Weinstein, 2014). This social cause resulted into the development and establishment of the idea of Enabled Employment.

The entrepreneur has so far advertised around 727 jobs and it has helped 4615 candidates in getting a job by linking up with as many as 283 companies or businesses. This is the employment diversity of the company. Thus the major profile of working of the company is providing employment and empowerment to people with disabilities. The firm tends to provide diversity to the businesses by seeking employees with special skills. The functioning of the firm takes place in a very simplified as well as transparent manner. The firm has six employees who seek collaboration with different companies to find out if they want to hire employees in their organisations(Boons & Freund, 2013). After knowing the requirement from them they prepare the job descriptions and with the help of that they arrange the interviews. This is followed but the final selection of the employees. This suggests that the major functions of the firm are preparing job descriptions, advertisement, candidate screening, arranging interviews, and selection of the employees as per their skills for the suitable jobs.

The firm gets competitive advantage because of various factors. These factors are diversity, advocacy, inclusion, innovation, trust and networking. The firm tends to increase the productivity and creativity of a business by providing new knowledge skills, solutions, processes and approaches to the business. It also allows the businesses to earn profit from their expertise. It also allows the firms to focus on result –driven outcomes by taking into consideration accessibility and flexibility. They provide an opportunity of inclusion and this further enables the workforce to empower themselves. It also leads to shared perspectives, shared ideas and shared attitudes. The most significant factor to achieve competitive advantage for the company is to enable innovation. The company is working with a very new concept and a very different approach. This tends to generate new solutions by expanding horizons and increasing the potential. In this way the firm is able to achieve the advantages. As a matter of fact there are not many competitors who are working on this concept. This means that there are indirect competitors of the firm but direct competitors are not there in the market(Buliga et al., 2016).Finally the firm provides transparent services and due to that huge confidence can be developed on it and this further increases the trust factor that is very important for a business to achieve competitive advantage. There is another important component that increases the competitive advantage factor of the firm and this is the networking of the firm. The firm has a very strong networking and due to that its opportunities are increasing to a very great extent. This also increases the professional capacity of the firm and helps it in achieving competitive advantage.

Future entrepreneurial suggestion

The firm can have different types of businesses in future. At present the firm is only dealing in providing employment to people with disabilities. This has a very limited scope and due to that there is need to increase its scope in future. The firm can also start providing employment services to the women who are willing to get back to work after a long maternity period or any other circumstances. In many cases women find it difficult to get the job again and due to that they remain unemployed. The firm can also expand its business in this profile. Along with that there is also a possibility to provide employment to everyone who is in the need. The company can collaborate with a number of employers and can work in this direction. This will not require a special setup and the firm can expand its business.

The possibilities that entrepreneur can take in future is grooming and personality development to face the interviews. This is something that is related to the present business and due to that it can be a possible avenue for the firm. The firm can help the candidates to prepare for the interview by providing them training. Along with that the firm can also start skills development courses. The firm can educate the candidates with different skills and thus it will help the candidates to grab a job easily. In this manner the two avenues that business can target are skills development and grooming and personality development.