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Innovation is the process which is highly concerned with the offering or providing customers with unique experience. In the highly competitive business environment individuals can attain success only when they come up unique ideas and products or services (Greenhalgh and et.al., 2014). The rationale behind this, now quick changes take place in the needs, wants and expectation level of customers. In this, innovation is the key which in turn offers opportunity to the business entity to build distinct image at marketplace.
The present report is based on fashion industry which is growing with the very high pace. For this project Georgia King has been selected as an entrepreneur who belongs from fashion industry. Such entrepreneur has been selected because she proved that one can convert the dream into loyalty whenever they want. Georgia King did BA Hons in retail management. Before starting the own business she worked for independent boutiques and large premium store. By taking into consideration such experience she has started her own with the aim realize the dream in relation providing people with highly unique apparel. Georgia King has developed unique identity and image by offering highly unique apparel to the customers which is highly challenging. Moreover, fashion industry of IK is facing issues in relation to high level of competition and changing customer preferences. Hence, growth and success story of entrepreneur entails that Georgia King has met the customer needs and expectations more effectually.
Interview may be defined as a formal conversation which takes place between two entities. In this, questions are asked by one entity that is recognized as interviewer, whereas other person who gives responses known as interviewee. Interview is the most effectual methods which in turn enables interviewer to assess the views and suggestions of an entrepreneur along with their facial expressions (Rogers, 2010). Face to face, telephonic etc. are the main types of interviews which can be undertaken by an individual for extracting highly suitable information. Face to face interview was conducted at the home of Georgia King. Moreover, with the aim to offer convenience to the lady interview was held at the home garden of her. Along with this, background of her garden is highly attractive so it was chosen as place. In addition to this, responses of a business entity were recorded in both the ways audio and video. Being an interviewer, several questions were asked from Georgia King regarding career background, inspiration, shaping of brand, business plans etc. Hence, questions which were asked during the interview and responses towards it enumerated below:
In response to the above question Georgia King said that from beginning she wants to make her bright future or career in fashion sector rather than other. She stated that passion and love towards fashion retail also encouraged her to do something creative in this field, By considering this, Georgia King took decision in relation to taking admission for BA Hons degree regarding retail management. Moreover, theoretical understanding is highly required for understanding customer behavior, market trend, strategic planning etc. Along with this, she also said that for getting practical knowledge Georgia King also worked with boutique and other fashion stores.
Georgia King gave positive response of question and presented that passion and affection for innovative products encouraged to enter in fashion industry. Moreover, offering high quality customer services is main objectives which had considered by Georgia King while entered in the fashion sector.
In this, Georgia King shared her view that risk and challenges are the main elements which entrepreneur has to undertake for realizing the dreams. She stated that every moment enjoyed by her to a great extent. Georgia King presented that she learnt various things at such time in relation to how to manage hospital appointments, suppliers meetings etc.
In this, Georgia King talked about AW 14 collection that is recently launched by her. Georgia King clearly stated that collection AW 14 provides customer with classic tones, cut and trims. She responded that timeless pieces and exclusive apparels are offered by her for every women’s wardrobe.
Brand of KGL places high level of emphasis on offering high quality and designer apparels to the women. In interview, Georgia King mentioned that her main target is to offer services to the women who are between the ages of 21-55. Hence, people who want to look attractive in the parties can purchase apparels from company’s website.
Georgia King presented that she faced difficulty in finding the suppliers who have ability to offer and deliver apparel on time. The reason behind this, in fashion sector customer satisfaction is highly affected from the quality of services and timely delivery.
Vision statement of GKL is to become a successful fashion brand retailer of UK. Along with this, Georgia King wants to create a brand which can easily be recognized by customers. Hence, trust building is one of main motives of GKL which in turn helps in enhancing both productivity and profitability. Along with this, building strong online and physical presence is another main objective of GKL.
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Georgia King inspired from Jane Shepherdson who is to CEO at whistles. Jane Shepherdson is the person who transformed high street shopping. Hence, he is the real inspiration for Jane Shepherdson who provided her with the ideas through which one can become a successful entrepreneur.
In this, lady entrepreneur stated that determination and patience is one of the most important aspects that business mums need to consider. Besides this, they need to make focus on following their dream and take initiatives for fulfilling them.
Article presented by Bill George reveals that high IQ and low EQ is highly required to become an authentic leader. Hence, authentic leaders are the one who attain success by managing their operations and personnel in the best possible manner. In accordance with Bill George, there are several ways that can be an entrepreneur to become an authentic leader. All such aspects include exploration of life stories, seeking for feedbacks, understanding leadership purpose. By working on all such aspects entrepreneur can become an authentic leader. Moreover, by sharing life stories and vision with colleague’s business unit can create a common purpose (The Truth About Authentic Leaders, 2016). In addition to this, by taking feedbacks from individuals entrepreneurs can assess the areas of skills which require more improvements. Along with this, leader can said to be highly authentic only when they enhance their skills without compromising their self identity or character. Georgia King having majority of the characteristics which authentic leaders must have. Hence, entrepreneur has shared common goals and objectives. Hence, Georgia King encouraged personnel to maintain high quality of apparel and designs. This in turn helps it in building and maintaining high level of customer satisfaction as well as loyalty. In addition to this, such lady entrepreneur has also fulfilled leadership purpose by aligning goals with the strategies.
By making assessment of the article presented by Lynda, M, it has been identified that there are mainly 11 dimensions which are associated with entrepreneurial leadership. It includes comfort with uncertainty, motivating team, building network, motivating team, collaboration, managing operations and structure, higher sales, financial management etc (Skills and Behaviors that Make Entrepreneurs Successful, 2016). Hence, all such skills and characteristics individual must have for attaining success in the highly competitive business arena. From interview and other articles, it has been identified that Georgia King possesses most of the characteristics which are discussed above. Moreover, results of interview present that Georgia King faced difficulty in relation to identifying the suitable supplier. Hence, with the ability to make effectual business and managing operation business entity of GKL built strong network. It enables entrepreneur to maximize sales revenue and thereby profit margin by offering fashion apparels to the large number of customers. Along with this, such entrepreneur also encourages personnel to come with unique ideas that make contribution in the attainment of goals. Further, growing sales and profit pattern also shows that GKL has managed its financial resources more effectively and efficiently.
From the articles of Thales and Michael, it has been assessed that an entrepreneur can become a successful business tycoon or leader only when they convert their 1000 customers in 1 million. Both such authors clearly entail that a business entity can get desired level of outcome or success only when it develops satisfaction among the customers. On the basis of this aspect, once 1000 customers have satisfied thereafter business unit needs to make focus on targeting more people. Such objective can be achieved by the entrepreneurs only when they understand the needs, wants and expectation level of people in the best possible way (Turning One Thousand Customers into One Million, 2016). Hence, Georgia King has followed such entrepreneurial theory and practice. Moreover, such lady starts with less number of people and now enjoying high customer base. In the fashion sector, needs and expectations of customers are getting changed more quickly. In this, fashion retailer or an entrepreneur can survive only when they offer unique, designer and exclusive apparel to the customers. Moreover, now individuals make focus on building their unique or distinct identity. Hence, by considering such trend Georgia King has provided British people or customers with highly quality designer fabric and unique touch. Such guru mantra has followed by Georgia King to convert 1000 customers into more.
On the basis of entrepreneurial theory and practice, it is recommended to Georgia King to undertake R&D activity. Moreover, such activity will help Georgia King in assessing the types of fabric and designs which customers prefer most. This in turn enables entrepreneur to maximize profitability aspect by satisfying the needs and wants of customers. Further, such lady entrepreneur also needs to take feedback from her loyal colleagues regarding the leadership style or aspects. Hence, by making proper assessment of such aspect Georgia King can take suitable action for further improvement. Along with this, to become visionary, business entity needs to place high level of emphasis on analyzing case study aspect. This in turn develops better understanding among the personnel and enhances ability in relation to making highly effectual decisions. Further, for effective financial management entrepreneur needs to make focus on employing budgeting and other monetary tools or techniques. By this, Georgia King can make optimum use of financial resources and thereby would become able to attain success.
From the above report, it has been concluded that Georgia King is one of the leading fashion retailer and entrepreneur of London. Besides this, it also has been articulated that Georgia King is interviewed because such lady presented highly effective example in relation to managing personal and work-life both. It can be seen in the report, high level of dedication and passion made Georgia King a successful entrepreneur. Further, it can be revealed from the report that authenticity is highly required among the leaders for attaining success. It can be stated from the article that by employing highly suitable ways an entrepreneur can become authentic leader. Along with this, it can be inferred from the article of George bill that an entrepreneur must have ability in relation to understanding the needs and expectation level of customers. Moreover, failure in relation to such aspect has high level of impact on customer base and thereby productivity as well as profitability. From interview, it has been identified that Georgia King has complied with the aspects of such article to a significant level. It can be summarized that Georgia King has ability to make profitable decision and thereby ensures effectual management of business activities.
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