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MNE2601 ASSIGNMENT 6 S1 2023
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MNE2601Assignment number: 06
Year: 2023 (SEMESTER 1)
PREVIEW:
Describe the type of entrepreneur that Meshack is according to the case study and support
your answer with an example from the case study. (3)
Meshack can be described as a social entrepreneur based on his focus on addressing social
challenges through his business. Social entrepreneurs are individuals who use
entrepreneurial approaches to create innovative solutions to social problems. Ashoka (2013)
defines social entrepreneurs as individuals with innovative solutions to society ‘s most
pressing social problems. In the case study, Meshack's passion for entrepreneurship to solve
unemployment problems in South Africa and the continent reflects his social mission (Fin24).
LOLA JACOBS ASSIGNMENTS 0618151315
, 1.Describe the type of entrepreneur that Meshack is according to the case study and support
your answer with an example from the case study. (3)
Meshack can be described as a social entrepreneur based on his focus on addressing social
challenges through his business. Social entrepreneurs are individuals who use
entrepreneurial approaches to create innovative solutions to social problems. Ashoka (2013)
defines social entrepreneurs as individuals with innovative solutions to society ‘s most
pressing social problems. In the case study, Meshack's passion for entrepreneurship to solve
unemployment problems in South Africa and the continent reflects his social mission (Fin24).
Example from the case study: Meshack's business, Kaelo Black Beauty, designs,
manufactures, and distributes African-themed toys. By creating dolls like Mahle that promote
self-love and identity, Meshack is addressing the lack of representation in the toy market and
aiming to empower young African girls (Fin24). This example demonstrates his
entrepreneurial efforts to make a positive social impact.
2Briefly discuss three (3) strategies for growing an entrepreneurial venture and identify
examples of these strategies from the case study. (6)
Expand to Other Markets:
Expanding to other markets involves targeting new customer segments or entering
foreign markets to increase the reach of the business. In the case study, Meshack
mentions his plans to secure contracts to supply national retailers like Game, Pick n
Pay, Dis-chem, and Toys R Us (Fin24). This expansion into national retail markets
demonstrates Meshack's intent to reach a broader customer base and increase the
market share of his African-themed toys.
Forming a Strategic Alliance:
A strategic alliance is an agreement between two or more parties to pursue common
objectives while remaining independent organizations. By forming strategic alliances,
entrepreneurs can leverage the strengths and resources of other businesses to
achieve growth. In the case study, Meshack advises entrepreneurs to collaborate with
other entrepreneurs where there is synergy (Fin24). This suggests that he recognizes
the potential benefits of forming partnerships or alliances with complementary
businesses to mutually enhance growth prospects.
The Use of Technology:
Utilizing technology, specifically the internet, can be a powerful growth strategy for
entrepreneurs. It enables businesses to reach a wider audience, expand market
presence, and increase sales opportunities. Meshack's mention of using social media
aggressively to access the market and let potential customers know about his
products and services (Fin24) aligns with the use of technology as a growth strategy.
Leveraging social media platforms can help promote the African-themed toys, engage
with customers, and drive brand awareness.
By employing these strategies, Meshack aims to achieve growth and expand the reach
of his entrepreneurial venture. Expanding to new markets, forming strategic alliances,
and leveraging technology are key strategies that can support his business growth
objectives.
LOLA JACOBS ASSIGNMENTS 0618151315
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