For instance, the acquisition of the Tottenham Hotspurs was a partnership deal with one of his childhood friends. In the end, Sugar gained full control of the company.
As a social entrepreneur, he is a member of several business networking groups that have honored his achievements and paved way for expansion of his customer networks Murray The failure was a result of the inability of the company to create and consistently select the right and most competitive games in the dynamic computer gaming industry. As a result, the business was not strategically positioned to gain a considerable stake in the expansive and dynamic market.
This failure cost Sugar several millions of pounds in failed investment. In the end, Sugar had to suspend his interests in the lucrative gaming industry due to little or no sales that could sustain the business as a response strategy to stop any further losses.
The failures suffered by Sugar did not end with the closure of the gaming venture. The company then went ahead to release the unique [email protected] service to offer customers the opportunity of making calls via their emails without having to worry about the cost of making the online calls. Unfortunately, the idea failed to pick up and was brought down seven years later. The cost implications of this failed venture were so high that Sugar had to relinquish his position as the major shareholder of Amstrad by offloading some of his shares.
Eventually, he also had to let go of his position as the chairman of the company. Reflectively, these failures were as a result of poor timing of business ideas and inability to proactively create a focused positing strategy to penetrate the different targeted markets.
Since the failures discussed above could not be reversed, Sugar opted for offloading some of his shares to ensure that his business interests stay afloat. This alternative was achieved through proactive and complete overhaul of the failed ideas. The last notable failure in the entrepreneurial endeavors of Sugar was the inability of his Tottenham Hotspurs business to flourish, despite maintaining ownership for about two decades.
Although Sugar acquired the team when it was performing well despite the series of debts, his strategy of running the club did not work out well. The club could not rise to the occasion to reflect its big name and very supportive fan base. The club did not have enough resources to sign top players. Besides, there was a constant change of the management and wrangles that conspired against the whole business venture.
In response to this failure, Sugar decided to offload all his shares in the year and was able to recover his investment. At the end of the deal, Sugar was able to receive a sum equivalent to double of his initial investment in the club. This was the most realistic alternative that Sugar could use to recover his investment in the club. This paper was written and submitted to our database by a student to assist your with your own studies. You are free to use it to write your own assignment, however you must reference it properly.
If you are the original creator of this paper and no longer wish to have it published on StudyCorgi, request the removal. Introduction Due to competition and changing preferences, an entrepreneur must plan any business activity and micromanage the risks involved.
Learn More. We will write a custom essays specifically for you! Sales Process Flowchart and Its Analysis. Cite this paper Select style. In a world where Microsoft and Bill Gates dominated the technology industry, a certain Steve Jobs changed all of this back in the mids when he founded Apple. None of which would be possible if not for his determination. It is inevitable that over the course of a career people will encounter negative experiences at some stage.
No matter how big or small the adversity, the important thing is to not dwell on what has happened and not to let it consume you. While this is easier said than done, the very best entrepreneurs realise that these things are all part of what makes a success story.
Building character and helping people learn from mistakes, in the long run negative experiences can actually have the potential to be beneficial. When he acquired his favourite football team Tottenham Hotspur in Lord Alan Sugar probably thought all of his dreams had come true. However, fast-forward ten years, eleven managers and numerous fan protests he sold the club in Since then he has admitted he made mistakes during his time in charge but has remained successful on the business front particularly via his popular television programme The Apprentice.
He provides just one example of how overcoming adversity can shape success. If you'd like to make a motivational speaker to make a personal appearance, simply contact The Motivational Speakers Agency by filling in our online contact form or by calling a booking agent directly on After joining as an apprentice in , Scott worked his way into the management setup, where he is now responsible for the flow of traffic across five websites.
The Motivational Speakers Agency would like to keep you updated by occasionally sending you newsletters that include information about exclusive free events, showcases and entertainment at venues such as The Gherkin, O2 Arena and Wembley. The stock market crash and stiff competition from rivals such as Sega and Nintendo made life difficult for the brand.
Other business ventures Far from being a one-trick pony, Alan has had his fingers in many business pies over the years. Amsprop sells commercial space in sought-after locations such as London, with price tags stretching into millions.
Alan also owns an advertising company called Amscreen, a jet charter business, Amsair, and an IT firm, Viglen. He has also had interests in the Labour Party. The programme first aired in and has been going strong ever since, enjoying audience ratings of over eight million. Through his astute business acumen, Alan and his advisors Karren Brady and Claude Littner test the knowledge and skills of a line-up of ambitious business hopefuls. Tim Campbell winner has since set up his own digital marketing agency, Leah Totton series nine winner established a botox clinic to the stars, Tom Pellereau winner from has invented products such as a collapsible baby bottle, while winner Alana Spencer has expanded her cake business.
His name is a firm fixture on newspaper Rich Lists.
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