Business Finance
Granville College of TAFE Laurence Graff Entrepreneur Traits Analysis Paper

Granville College of TAFE

Question Description

I need help with a Business question. All explanations and answers will be used to help me learn.

Analyse a CURRENT entrepreneur who is a citizen from one of the following countries: Australia, United Kingdom.

The chosen entrepreneur must be the person who founded the business(es) (himself/herself or with the team), and currently still running/controlling the business(es) which was/were set up and is/are headquartered in the above countries.

Individual assignment, report format with headings and sub-headings, 1.5 spacing to be used.

Critical analyses and reflection on relevant entrepreneurship theories required, not just a simple presentation of the entrepreneur’s biography.

Structure: • Cover page ✓ Please indicate your full name, student ID, class day & time, and tutor’s name •

Introduction • Background of the entrepreneur ✓ Discuss the background of the entrepreneur (i.e. history, development, family and socio-cultural background) to see what developed his/her entrepreneurial passion/propensity and contributed to this person’s entrepreneurial pathway/success (with reflection on/application of the relevant entrepreneurship theories). •

Entrepreneurial traits/characteristics ✓ Discuss the characteristics/traits of the entrepreneur (with reflection on/application of the relevant entrepreneurship theories). • Opportunity recognition and idea development process ✓ Discuss the processes of opportunity recognition and idea development (with reflection on/application of the relevant entrepreneurship theories). •

Competitive advantages ✓ Discuss the type of business developed and the competitive advantage(s) of the business compared to competitors in the market (to be supported with relevant facts/figures/research where possible, with reflection on/application of relevant theories).

• Recommendations ✓ Discuss future suggestions for the entrepreneur including different types of businesses or avenues (e.g. franchising, mergers, expanding/selling their business etc) he/she may take.

There needs to be at least 8 academic references required and in total 11.

Harvard Referencing style

Suggested Books for refernces

Entrepreneurship and Small business Schaper, Volery, Weber and Gibson (2014)

Small Business Management: Entrepreneurship and Beyond Cengage Learning Australia

The Entrepreneurship Journey: the road to starting your own venture O’Malia, Thomas

Student has agreed that all tutoring, explanations, and answers provided by the tutor will be used to help in the learning process and in accordance with Studypool's honor code & terms of service.

Final Answer

Attached.

Entrepreneur Analysis 1

Entrepreneur Analysis; Laurence Graff
Name
Institution
Instructor
Date

Entrepreneur Analysis 2
Entrepreneur Analysis; Laurence Graff
Introduction
Laurence Graff is a British entrepreneur and the founder of Graff Diamonds
International, which is one of the leading companies in the diamond jewellery marker with over
50 retail stores globally. His passion for the diamond business started back in the 1950s as an
apprentice at the Schindler's jewellery workshop in Hatton Garden, UK as a teenager (Graff,
2020). Laurence Graff went on to become a world-leading diamantaire with an A-list client list
that includes President Donald Trump, Sultan of Brunei, Larry Ellison, Elizabeth Taylor, Oprah
Winfrey, among others (Forbes, 2020). He has also won several prestigious awards, which
include four Queen's Awards to Industry and an OBE in the Queen's Birthday Honors List
(Graff, 2020). The business first began as a partnership repairing Victorian jewellery. The
organization has been at the forefront of jewellery creation for over five decades. The company
covers the entire chain of jewellery making process, which includes the sourcing, cutting,
polishing, and setting of the jewel. The business still remains within the family.
His passion in the diamond business can be traced back to when he was first introduced
to the Hatton Garden by his mother. At the time he met the owner, he was ready to begin as an
apprentice. During his time there, he did several odd jobs at the facility, such as scrubbing floors
and levelling metal (Graff, 2020). He enrolled at the Central School of Arts and Crafts to further
his knowledge in the craft during day-releases. His grandmother Katie Graff had a tremendous
influence on the young Graff, and his shrewdness and business acumen are said to have been
inherited from her (Graff, 2020). Coming from a hardworking family was a major influencing
factor in the growth of his business. A decade later, he founded the Graff diamonds and, in just
five decades, has managed to grow the business into a multinational employing more than 500
staff across its retails stores worldwide.
Entrepreneurial Traits or Characteristics
Traits can broadly be defined as a set of distinguishing characteristics that individuals
have. Successful entrepreneurs are thought to share certain characteristics, which include risktaking, creativity, ability to adapt, and so on (Singh and Rahman, 2013). Several scholars have
also attempted to identify important traits for successful entrepreneurship. Others f...

peachblack (35692)
UCLA

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