The Fish Whisperer
(7 pages of text)
Case (Gen Exp)
This case depicts the start-up and business development challenges faced by a streetwise entrepreneur who has invented a unique fishing rod. The capabilities necessary to invent, prototype, and bring to market a limited quantity of product versus the challenges of larger-scale commercialization and management of a growing business are illustrated. The case primarily addresses why some entrepreneurial ventures succeed and grow while others stay insignificant, and why a majority of entrepreneurial initiatives eventually fail. Indigenous constructs such as entrepreneur- and organization-specific factors and exogenous constructs such as industry, location, and time-specific factors that may predetermine the outcome of an entrepreneurial venture are illustrated. A business plan, which has attracted angel investment, is presented for critical assessment. The case’s background story shows that all businesses face resource constraints and trade-offs and that managers must continuously adapt and upgrade their business models, competencies, and management styles to match evolving market standards.
Instructors will find this case useful in courses on entrepreneurship, management, and small business management.
The case realistically illustrates the challenges faced by a typical streetwise entrepreneur in the start-up and growth stages. Obstacles such as financial and human resources, spatiotemporal constraints, industry type, and seasonality effects are presented. A business plan, which has attracted an angel investor, presents students with the opportunity to identify how even successful and seasoned investors may be misled by a creative presentation.
The question of why some entrepreneurial businesses succeed and grow into large-scale corporations and others stay small or fail is addressed by using Churchill & Lewis’s five stages of small business growth model. Business and management challenges faced by the entrepreneur in the existence, survival, and growth lifecycle stages are shown.
Agriculture, Forestry, Fishing and Hunting
United States, Small, 2011
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