StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Business Success Factors - Essay Example

Cite this document
Summary
This paper 'Business Success Factors' tells us that many people have the desire to become entrepreneurs and experience the freedom that comes when one works for him or herself. Unluckily, a high number of these people get into business without sufficient research and groundwork and miscalculate the discipline…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER91.8% of users find it useful
Business Success Factors
Read Text Preview

Extract of sample "Business Success Factors"

Regardless of the definition of success, there are numerous common characteristics and skills shared by numerous entrepreneurs and managers. This paper discusses the success traits and skills of Marc Jacobs and Louis Vuitton.

Marc Jacobs

          He is an American fashion designer and heads Marc Jacobs Fashion Company in France. In addition, he also heads Marc by Marc Jacobs. Marc Jacobs is a successful entrepreneur with more than 201 retail ventures in 82 countries. Since 1997, while still running his ventures, he has been working for Louis Vuitton Company as the creative director (Grigoriadis). Recently, his success made Times Magazine rank him among the 100 most influential people in the world.

Louis Vuitton

           This is a France-based Fashion House started by Louis Vuitton in 1855. It is one of the leading and successful fashion houses in the world. Its monogram is well renowned as it is featured in its products which range from leather goods to shoes, jewelry, watches, sunglasses, and luxury trunks (Richard 750). This fashion house owns boutiques and departmental stores across the globe, which act as its selling points. Moreover, the Internet has been a contributive factor to its high sales. 

Success Factors

           A successful business cannot be built by one individual alone. This is a task that requires a team that is devoted to the business and its success. Marc Jacobs promotes cohesion and teamwork among the employees. This promotes a good relationship between him and the subordinates. Craven notes that Marc Jacobs’ workers are loyal to him and that they love him. Levy asserts that Marc Jacobs discusses issues about fabrics with his staff.  In addition, Marc Jacobs motivates his employees. About Walker and Brown, employee motivation is a fundamental factor that leads to business success and promotes good relations between the employer and employee (580).

           A successful entrepreneur believes in the business. Marc Jacobs believes in his company’s products and items. This is a trait that allows Marc Jacobs to have the desire and zeal to attain his objectives and goals which have led to the success of both Marc Jacobs and Louis Vuitton.

           Risk-taking is a trait that greatly leads to entrepreneurial success. Marc Jacobs is a risk-taker and is not afraid of anything. This has made him venture into different markets in the world and design more products. His companies have continued to produce new items and products which have brought about success and a greater market share.

            Every entrepreneur has a motivating and inspiring factor that keeps him moving. Marc Jacob draws his inspiration from an art wall gallery when starting up a new collection. Craven describes Marc Jacobs as very innovative, creative, and aggressive. These factors have greatly contributed to the success of both Marc Jacobs Fashion House and Louis Vuitton Fashion House.

Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Sucess Essay Example | Topics and Well Written Essays - 500 words”, n.d.)
Sucess Essay Example | Topics and Well Written Essays - 500 words. Retrieved from https://studentshare.org/miscellaneous/1600039-sucess
(Sucess Essay Example | Topics and Well Written Essays - 500 Words)
Sucess Essay Example | Topics and Well Written Essays - 500 Words. https://studentshare.org/miscellaneous/1600039-sucess.
“Sucess Essay Example | Topics and Well Written Essays - 500 Words”, n.d. https://studentshare.org/miscellaneous/1600039-sucess.
  • Cited: 0 times

CHECK THESE SAMPLES OF Business Success Factors

E-Commerce Technology Infrastructure Management

In addition, geography, as well as structures of procedures is not enjoying the significance as vital factors, as medium organizations are now benefiting from the platform of the internet to sell their goods and services and pierce new markets in an enormously little period.... "E-Commerce Technology Infrastructure Management" paper argues that figures and information indicated by many research bodies present that tend to take up e-business by private segment is favorably elevated and such firms have expanded advantages from e-business program as well....
11 Pages (2750 words) Essay

Types of Intellectual Properties

tm Viewed on 12th September 2006 10PM ISTTrade secret: A trade secret is an management tool that is kept in the internal walls of an organisation which is vital in the success of a feature, product or a process flow different from other business entities.... Organizations in various sectors have their own operational edge over there competitors for keeping their business aloft.... ntellectual property rights is now used extensively as a business parameter due to competition, product differentiation and process flow gaining much importance in running a business entity....
8 Pages (2000 words) Essay

Family Business Success

While traditional business success can be judged by a lot factors which include use of technology, level and capability of resources, growth opportunities, using electronic commerce for business, customer satisfaction, customer retention and the company's market share (Top 7 critical Business Success Factors 2000).... For the smooth running of a business it is necessary that the roles of individuals are well defined and communicated (Essentials for Family business success)....
9 Pages (2250 words) Essay

Success of Small and Medium Enterprises in Thailand

arious success factors are identified in addition to government support such as leadership and management skills, organizational culture and technology.... his paper considers how three different approaches in research methodology (quantitative, qualitative and mixed design) could be applied to the topic area ‘What is below the surface and underlying success factors for small and medium enterprises in Thailand?... The identification of possible success factors helps to better focus the proposed study....
14 Pages (3500 words) Essay

Participation Exercise #5

The circumstances surrounding the business environment determine the action to take with the option to increase the selling price much determined by the competitor's prices among other factors.... om/starting-a-business/success-factors/indicators-of-success.... 3 Indicators of success.... The business incurs fixed costs and variable costs.... Having volumes from which the organization obtains profit defines the breakeven point of that business....
1 Pages (250 words) Assignment

Success Factors Affecting the Spread of E-commerce Worldwide

This research discusses the most critical success factors that are playing a crucial role in the success of e-commerce.... In this regard, nowadays, business organizations are profoundly relying on the platform of e-commerce to carry out their business activities; however, some critical or key success factors are playing a crucial role in the spread and success of e-commerce globally that will be the major focus of this paper.... However, before stepping into the discussion of success factors of e-commerce, it is very imperative to understand the basics of e-commerce, and this will be possible with a basic understanding of different transactions encompassing the arena of e-commerce....
13 Pages (3250 words) Research Paper

Management Information Systems

More importantly, Business Success Factors could directly result in failures of the others.... business driver, according to Hanschke (320) is the business's success factors and are related to the strategic goals.... For instance, the success factors of a firm in the information technologies industry will be different from that in software development.... business success can be achieved by assigning resources efficiently; that is to say, if IT enables the business processes to run effectively with automated or leaner workflows, the organisation is inclined to gain substantial efficiency in business workflows....
6 Pages (1500 words) Assignment

Business Risk Analysis for Wesfarmers Limited

Various aspects of the company will be considered when preparing the broad audit strategy, including the company's profile, size, main products, segments, corporate governance issues, Business Success Factors, accounting issues, legal matters, the financial strength of the company, trends in performance, sources of capital, comparison with other companies in the same or different industries, among other factors.... All these factors, together with other aspects will be discussed in this report as well as how they affect the financial statement assertions during the process of auditing....
12 Pages (3000 words) Case Study
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us