New Owner and Existing Business Case Study Example | Topics and Well Written Essays - 1500 words

New Owner and Existing Business - Case Study ExampleAlthough Anna was intellectual that this bargain will save her the costs of setting up a new business, legal proceedings, location, customers and suppliers just now what she did non take into consideration were the risks and challenges of buying a business that is losing its pace. It is difficult to revive the image of a business that is already declining especially in relation to the customers who live with switched to a better designer as well as suppliers who ar enjoying the better relationship with others in the industry. Anna should have also considered the fact that obtaining verity and adaptability from existing businesss employees is a challenge. The financial and economic side of the existing business could beat out threat because before buying Anna did not examine the details of the mentioned and trusted only on her abilities. Moreover, Anna should have given a deep look into the history of the existing business dea lings with the stakeholders and ensured its good reputation. 2) It is believed that if a person has toughened dreams and the ability and motivation to turn them into reality, no hurdle can suppress his powers. equal applies to entrepreneurs. It is a common trait of entrepreneurs that with their vision and constant enthusiasm, they can take a business to last levels of success. S Anil Kumar, S.C.Poornima, Mini K.Abraham, K.Jayashree (2003) states that entrepreneurs are intuitive and highly motivated from inside, they have a strong will and determination to achieve their goals. Shane Greenstein (2011) says that entrepreneurs are visionary, exceptionally energetic and have strong willpower. They know what their weaknesses are and ways to get over them. Anna bought the existing business because she knew that her powerful ideas and efforts could really make this business a big hit in the market despite the fact that she had not had good managerial skills. Anna did not let this weaknes s of her come in the way of her success. She knew that soft skillscould be learned at whatever point in life but the characteristics of being visionary and enthusiastic are permanently enter in her personality and nothing can beat them.