MAR attributes her success to taking care of customers. To her customers, MAR feel great to choose the response that best serve the health and core values of life. Identify the "SWOT" analysis concept in the business of MAR
As a student, Maud Abigail Regina (MAR) would say to herself' Set a goal so big that you can't achieve it until you grow into the person who can'. To this end MAR was able to save GHS 5,000.00 as a student at the Earth Science Department during her studies. She had a Second Class Hons Degree in the Upper Division and she was determined to be a successful entrepreneur after graduation. MAR now owns an GHS 800,000.00 business that employs six people. The facility is a custom picture- framing and her customers are mainly granduants from tertiary and allied institutions and students/staff from second cycle institutions during speech/prize giving days.
MAR has been taught that people are willing to take the risk of starting a business for many reasons, including profit, independence, challenge and opportunity. MAR recognized the opportunity in picture framing since most framing camera men at functions at the time did not focus on modem management principles. MAR maintains that most successful businesses aren't based on new concepts, but rather are great executions of old businesses.
She uses Nike as an example. People have been making gym shoes for 75 years; Nike just executed it better. Picture framing was not a new concept, but MAR started Finest Frames Services with the theory that pleasing customers was the key to business success. She believed that good services and high-quality framing were the keys to pleasing customers. She offered her customers low prices through aggressive purchasing and increased volume of framing materials. She decided to gIve customers a one-week turnaround, whereas others took six to eight weeks.
MAR actively shares her business acumen with other entrepreneurs and juniors at the Earth Science Department, Legon whenever the opportunity arises. Since she was out on her own from the beginning of her career, MAR can explain the emotional and intellectual transition from a seat-of-the- pants start-up to the building of a well-run organization.
MAR believes that customer service and execution require fundamental understanding of business principles such as leveraging your assets and having the appropriate skills in marketing, management and finance. She knew that these skills can be acquired through classes (e.g. EASe 470) and experience. Furthermore, she was conscious of the fact that it is much difficult to develop the personality traits needed to be a successful entrepreneur such as tolerance of uncertainty, self-direction, self-nurturance, high energy and action orientation.
MAR attributes her success to taking care of customers. To her customers, MAR feel great to choose the response that best serve the health and core values of life.
- Identify the "SWOT" analysis concept in the business of MAR
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