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EEE625

Bowen Qin

1. Who can be an entrepreneur?


Entrepreneur should have good risk management and planning skill. Also, a successful
entrepreneur can make profit and competitive advantage and know companys customer
base. Moreover, good entrepreneur should also be a good team leader and expert.
2. What are the risks, rewards, and trade-offs of a lifestyle business versus a highpotential businessone that will exceed $5 million in sales and grow
substantially?
The risk of a small lifestyle business contains the threat of new competitor, since the
small company may not have enough revenue to cover the R&D costs, they may not able
to stand out among their competitors and therefore lose their competitive advantage.
Rewards for small lifestyle business would be the manager has complete control over the
success or failure of the business because it has fewer employee in the lifestyle business
than $5 million sales company. Rewards for high-potential business is they have more
chance to expand than small business.
3. What is the difference between an idea and an opportunity? For whom? What can
be learned from Exhibits C and D?
Exhibits C and D tells General Industry Statistics for Toilet Preparations which can tell
Quimby how the industry perform since she wants to focus skin care products. Idea and
opportunity is not always the same. For example, in Roxanne Quimby case, she has an
idea that she need to work with Burt. While, an opportunity is an idea that can be
implemented, in this case, Quimby implement her idea that Quimby and Shavitz pooled
$400 to launch a honey and beeswax business which created an opportunity to success.
4. Why has the company succeeded so far?
First, the customer satisfaction is key success factor for Burt's Bees'. Secondly, Roxanne
and Burt vision and talent lead company to success. Finally, the company is profitable
and had less debt.
5. What should Roxanne and Burt do, and why?
I think they should stay in North Carolina to furfure expand because its the center of US
and North Carolina was aggressively recruiting companies. Also, there are two expertise
can help her run the company.