Essays on Contributors to Dick Smith's Business Success Case Study

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The paper "Contributors to Dick Smith's Business Success" is a great example of a management case study.   Entrepreneurship is a major contributor to economic growth. Through entrepreneurship, innovativeness is enhanced and productivity is boosted. Entrepreneurship involves coming up with new products, new markets, new business as well as organizations (Van Praag, 2005). Dick Smith is a successful Australian entrepreneur, social activist, and an aviator. He is one of the most respected businessmen have been able to achieve a lot in his life. Dick Smith is the founder of Dick Smith Electronics, Australian geographic and Dick Smith Foods among other achievements.

He has been involved in running a successful business as well as acting as a promoter of Australian pride, identity, and self-confidence. The essay looks at the factors that have contributed to Dick Smith's business success and attributes that contribute to his Charisma. Lastly, the essay discusses Dick Smith as a transformational leader. Contributors of Dick Smith's business success Dick Smith is an entrepreneur who values free enterprise and virtues of hard work. He also believes in free speech and is dedicated to philanthropic work.

From the essay, it is evident that these values have played a great role in his success. Dick Smith has been able to promote national pride and identity as part of his vision of running a successful business. Through this, it is evident that Dick Smith has linked his vision with a large part of Australian society. Being able to inspire and link with society has earned Dick Smith's support in his business. By instilling pride in society, they are able to make purchases of Australian made products from his stores.

Consumers are attracted to his business due to the fact that he is able to connect with them and contribute to a social cause. Modern consumers are also attracted to a business that operates ethically and in a socially responsible manner. Dick smith loves a challenge and is a risk-taker. This is according to how other people see him. A good entrepreneur must be able to set challenging goals that are realistic (Casson, 2005). Being ready to take a challenge makes it possible for Dick Smith to set goals that are attainable.

This is a major contributor to entrepreneur success. An entrepreneur is a risk-taker. This is through taking moderate risks that have reasonable as well as challenging success chance (Schmitt-Rodermund, 2004). Dick Smith claims that he copies others' success and also looks for advice. Seeking advice helped in nurturing his entrepreneurship skills. Successful entrepreneurs have an inquiring mind. This is through asking questions and looking for advice from successful entrepreneurs. Learning from other people’ s success and looking for advice has also helped him to attain his success. This is due to the fact that learning from others helps in avoiding mistakes and acts as a source of mentorship (Markman & Baron, 2003).

As an entrepreneur hard work is paramount to success. Dick Smith admits that he is a hard worker in the business. A successful entrepreneur must be prepared to work hard to attain results. Lastly, Dick Smith possesses the qualities of a successful entrepreneur. He has creativity, dedication, determination, leadership skills, passion, and self-confidence. His achievements are proof that he is a successful entrepreneur who has used his strengths in his qualities to succeed (Schmitt-Rodermund, 2004).

Attributes that contribute to Dick Smith's charisma

References

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Bass, B. M., & Riggio, R. E. 2006. Transformational leadership. Psychology Press.

Casson, M. 2005, “Entrepreneurship and the theory of the firm,” Journal of Economic Behavior & Organization, Vol. 58, no.2, p.327-348.

Eatwell, R. 2006, “The concept and theory of charismatic leadership,” Totalitarian movements and political religions, Vol.7, no.2, p.141-156.

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Kark, R., Shamir, B., & Chen, G. 2003, “The two faces of transformational leadership: empowerment and dependency,” Journal of applied psychology, Vol.88, no.2, p.246.

Lorente, L., & Salanova, M. 2014, Transformative Leaders. In Encyclopedia of Quality of Life and Well-Being Research (pp. 6716-6719). Springer Netherlands.

Markman, G. D., & Baron, R. A. 2003, “Person–entrepreneurship fit: why some people are more successful as entrepreneurs than others,” Human resource management review, Vol.13, no.2, p.281-301.

Schmitt-Rodermund, E. 2004, “Pathways to successful entrepreneurship: Parenting, personality, early entrepreneurial competence, and interests,” Journal of Vocational Behavior, Vol.65, no.3, p.498-518.

Smith, B. N., Montagno, R. V., & Kuzmenko, T. N. 2004, “Transformational and servant leadership: Content and contextual comparisons”, Journal of Leadership & Organizational Studies, Vol.10, no.4, p.80-91.

Van Praag, M. 2005, Successful entrepreneurship: Confronting economic theory with empirical practice. Edward Elgar Publishing.

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