Factors of Success - 2341 Words

Introduction and objectives The overall objective of this individual assignment is targeted in two separate, yet strongly interrelated sections. Our first task is concerned with one inspiring entrepreneurial story and its reasons for success. Furthermore, other factors for success will be discussed, in the light of relevant literature. Additionally, I will identify the personal takeaways I can take from it. To support this, I also intend to explain the logic used to identify these takeaways. Other interesting details of this entrepreneurial story, but not relevant for the main critical analysis, will be placed in the appendix. Following this, using two different personal entrepreneurial assessment tests, I will evaluate my own†¦show more content†¦In the previous page, some ideas were depicted, in order to frame Cordys and Jan Baans reasons for success into a common framework. This shows the connection between an awareness of new emerging trends in the software industry and Baans personal characteristics. Having set this framework and mentioned the casual ambiguity and mutual interdependence amongst all the reasons for success, the first reason for success I can argue is a combination between an opportunistic personal trait and an innovative approach to problem solving. In other words, Jan Baan has always been ready to sense an opportunity and innovate to succeed (Baan 2010, p. 23; Eppink 2010). This burning desire for innovation was a fundamental cornerstone in both The Baan Company in the past, and Cordys nowadays. He himself stated that he expected his enterprises to be trend-setters and not followers (Baan 2005, p.123). Specifically, in the case of Cordys, Baan detected that the software industry required an agile consumer-driven innovation (Eppink 2010). Indeed, innovation is crucial if a small firm wants to grow and be successful (Barringer and Ireland 2010). Furthermore supportive networks developed around clusters could boost innovation (Burns 2007, p70). Interestingly, this w as also true for Jan Baan, who in early stages involved his brother, and simultaneously built up a close network in his home country, the Netherlands. Hence, from the last paragraph, as aShow MoreRelatedSuccess Factors For The Success2122 Words   |  9 PagesThis article is going to be focused on success factors, but it is going to be a little different. It s not going to look at the success factors for life in general, but instead of each individual aspect of life. I want you to take a look at the success factors for all areas of your life and get some inspiration to make your life really work for you and your happiness - which is what I think it is all about. What Are Success Factors For Peace Of Mind? Having a sense of peace is the ultimate rewardRead MoreKey Success Factors. Key Success Factors Are Variables1809 Words   |  8 PagesKEY SUCCESS FACTORS Key success factors are variables that can significantly â€Å"affect the overall competitive positions of companies within any particular industry† (Wheelen, p113). Airlines are in part service businesses. To be successful, an airline must be effective in four general areas: 1) attracting customers; 2) managing its fleet; 3) managing its people, and 4) managing its finances. Attracting customers One of the biggest challenge in the airline industry is to attract customers. There areRead MoreCritical Success Factors944 Words   |  4 PagesQuality is a very important factor in restaurants because a visit in a restaurant is usually something people do to enjoy rather something that is of vital importance. 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Through their continuing work and precious experiences, what factors dominate the success of projects is well documented in literature. The use of these guide texts can help project managers to deal with difficult tasks. Moreover, it is unanimous consensus that project critical success factors are necessary for management team to achieve project objectives and ensure success. If they are well c onsidered and addressed, then it is moreRead MoreFactors for Academic Success2627 Words   |  10 PagesWhat is academic success dependent on? This has been the question for many psychological studies. To answer this question qualitative research needs to be done to investigate what hinders or promotes academic success. This essay will investigate these factors by way of interviews, while framing them in the context of current research. It will then be demonstrated how the Job Demands-Resource model can be used to inform such a study. First though it will be shown why it is of the utmost importanceRead Moreproject success: success factor and success criteria Essay2754 Words   |  12 PagesPROJECT SUCCESS DEFINED BY SUCCESS FACTORS AND SUCCESS CRITERIA by M. Shaw Success consists of going from failure to failure without loss of enthusiasm       Winston Churchill INTRODUCTION 1. Since the 1960s there have been an increasing number of Project Management scholars that have expressed concerns regarding the ways to manage the success or failure of a project. Crawford (2000) theorised that there are two major avenues of thought in this area being: how success is judgedRead MoreUps Key Success Factors900 Words   |  4 PagesUPS Key Success Factors: The deliveries must be on time, there should be accuracy by way of deliveries, ownership of not only the land based vehicles but also airplanes are important for success. Key success factors include safe deliveries and an excellent reputation. Recently there are key success factors related to information. Accessing the UPS website gives critical information about the whereabouts of the parcel to any customer at a low cost. Information about the merchandise, customers andRead MoreBrand Extension Success Factors983 Words   |  4 PagesBrand extension success factors Problem definition and objectives In a highly competitive environment, organizations are convinced that the launch of new products in order to stratify the need of consumers can lead to an increase the success of a company. The strategy of launching new products can be successful but it remains some risks. Indeed, the launching from 30 to 35 % of new products has failed. Because of some factors like the high level of advertisement costs and the increasing competition