Global Social Entrepreneurs

What it takes to run a Business in Ems

The article explores on what it takes entrepreneurs to operate in emerging market. The CNBC interviews Serge Pun the executive chairman of Yoma Strategic with his eldest son, Melvyn. The interviewer explores on the family oriented business model where fathers leave their business to their sons to manage. Pun’s business have flourished irrespective the emergency market forces. According to him, the success of a business is attained from continued determination and patience. I agree with Pun that success in emerging markets depends on determination and patience. For example, the son leaves a better paying job to go work with his father in the family business. Personally I think such a model would limit the youths from exploring their talents in better challenging environments.

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Question (a)

Although western markets like the US may view conglomerates as dinosaurs, emerging markets like Asia, these units are thriving well. This is resulting to diversification of the business groups where for example they are likely to starts up an organization within 18 months. Felenbok et al. (2019) argue that conglomerates in Asia are more profitable in comparison to those in the US are breaking up or refocusing their abilities. It is debatable whether the conglomerates in Asia are a question of time, or are there ultimate reasons why emerging markets conglomerates are in position to exploit their advantages and adjust to the marketplace. 

Another reason why conglomerates are thriving in Asia than in US is due to presence of institutional voids in Asia which are absent in the US. Diversification according to Achi et al. (1998) is a solution to majority of challenges in emerging markets. In addition, the US economy is advanced with well-developed underlying factors as well operates on open economy a characteristic that is absent in emerging markets. Additionally, Asia follows a closed economy with a high degree of imperfection which causes policy makers to only influence a few individuals. 

Meet the Men Behind India’s Answer to Ali Baba

The success of their business is based on first building towers which will reinforce their strategy and development in future. The two founders embarked in making economic irrational decisions. The founders were schoolmates and when they met they embarked on starting an innovative business that will apply robots or artificial intelligence. They explain their journey from starting ups to resourcing and to the success. One aspect the founders discuss is the tradition of first being employed before self-employment. I disagree with the founders on the aspect of Snapdeal. Personally I believe one cannot be a teacher without being a student. In this I mean that it is important to learn the basics as a manger or a leader before embarking in a business deal. However, the two illustrates the effectiveness of Snanpdeal but this is not a game for all. 

Question (b)

The founders are in to the trend of following a Snapdeal rather than first working before starting a business (a famous cliché in India). However, the two went ahead and started their passion, without the protocols. This I can term as short-term greedy. Birdeman (2012) explains the aspect of short term greedy as a way to optimize near term gains. This is where leaders push their employees to exhaustion by sucking their value based on their perspective. However, in this case it would mean the founders to decide not to follow the long term hungry which relies on professionalism. However, the founders are here to stay by staying in their business. Based on their argument, managers can follow a Snap deal to maintain a long term hungry.

How hard is it to be a Millennial Entrepreneur in Asia?

The article argues that irrespective if the rich Asian culture, majority of youths dislike the aspect of stable job at established organization and established their businesses. The Asian millennial instead disregard the aspect of “safe and secure” full-time employment and desires to open up businesses with hope that it will succeed. This is risk taking as only 10% of the start-ups that succeed. The drive of the millennial according to the article is passion rather than money. However, this is not an easy journey and the entrepreneurs are at risk of several challenges. I agree with these aspects as majority of start-ups have the drive and passion but they fail to have the skills or the passions to take business to the next level.

Question (b)

The study provides that Hong Kong and Singapore are the best cities for the millennial to starts businesses due to the accelerator programs in these countries. Generally, the two factors influencing millennial in Asia: starting business that solves a business gap and an existing problem. However, majority of these start-ups fail to achieve their big dreams with the idea that passion will assist them to attain their dreams. Asia is full of big businesses owned by families and although starting a business for the millennial is appealing, starting one without passion is bound to fail. Thus, the only aspect that will make Asia millennial to flourish in entrepreneurship is passion. I agree with these aspects because passion is what will make one to hold on for months or years without profits while waiting for the business to succeed. 

Business Model Summary

Angrea (2015) explores on what is meant by a business model. The article starts by exploring on the history of business model which it is termed as an art that is hard to define. The article simplifies the aspect of business model to mean how a business plans to make money. Some of the scholars views business models more on the assumptions rather than on the money. The author explores on various scholars and the definition of business models. I agree with these discussions as I personally think that a business models is the strategy or the plan that a business or a manager makes to identify their customers, financial resources, products, marketing and the market. The article for example provides the assumptions of one scholar, Alex Osterwalder through the use of his nine-part, ‘business model canvas’ which I believe explores on all I think is a business model. The reason for agreeing with Osterwalder definition is due to its complexity in exploring several aspects I believe are essential in a business model. 

Question (d)

My business model is what will holistically define the logical links as well as the process by which a business will produce value for consumers. The aspect of revenue model is just one face but there are other ways to use a business model. The reason why I see a revenue model as different from my business model is because it only explores on the process by which an organization generates income or revenue. For example, DaSilva and Trkman (2014) explains that individual customer segment have one or more revenue streams. Thus, the two aspects are different where the business model illustrates how a business will generate value while the aspect of revenue model illustrates how a business will generate income from value it generates to its clients. I thus believe my business model is more of assumptions that include the revenue streams, cost structures, customer segments, channels, customer relationships, and value positions; and that the aspect of revenue model is included in my business model.

References

Achi, Z., Boulas, C., Buchanan, I., Forteza, J. and Zappei, L. (1998). Conglomerates in Emerging Markets: Tigers or Dinosaurs?. Strategy + Business. [online] Available at: https://www.strategy-business.com/article/16137?gko=18c5d [Accessed 7 Jun. 2019].

Birdeman, C. (2012). The Benefits Of Being ‘Long-Term Greedy’. Forbes.

DaSilva, C. M., & Trkman, P. (2014). Business model: What it is and what it is not. Long range planning47(6), 379-389.

Felenbok, J., Ojha, N., Vestring, T., Apte, h. and Olsen, T. (2019). Asia’s Conglomerates: End of the Road?.

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