Malincho - 1898 Words

1. Overall Assessment Kalin Pentchev created an increasingly growing business out of confidence, determination and sheer luck. Building a company from scratch is complex and certainly takes some of these qualities to persevere, but must also take planning, analysis and strategy. While Kalin displayed confidence, which Professor Sarathy explained contributes to a company’s success, it was gained from his own determination not to fail, rather than from having an understanding of international marketing. Instead of using well-mapped out plans and strategy to guide his company, Kalin created a reactive business with decision-making occurring as issues and dilemmas arose. Unfortunately, as a result, he made several mistakes common to†¦show more content†¦Chasing Orders Kalin developed a reactive business that responded to situations as they occurred. His strategies were the result of things gone wrong. As an example, he had to change his lower-price selling strategy after a distributor warned him of the consequences and struggled to even maintain an effective pricing strategy because his focus was on selling the product as quickly as possible. Instead of developing relationships and taking care of the customers, like the Lebanese storekeeper, he provided to some poor service and coincidentally treated them similarly to the way his distributer treated him with little contact and no follow up. â€Å"Desperate and determined† and rather than taking a step-back to prepare a solid selling strategy, he looked for customers in yet another market, the larger-volume cheese buyers. Assumed Successful Home Market Products and Techniques Worked Anywhere In addition, Kalin also built a business of faith assuming that cultural values and business practices that previously worked in his home country would be transferable to a U.S.-based company. For example, Kalin suggested that all customers believed non-payment to a vendor was offensive and feared reprisal from a fictional, more powerful business man. Although it is important to understand the cultural values of theShow MoreRelatedMalincho Case1155 Words   |  5 Pages Malincho Case Study Analysis By: Faraz, Jadee and AmbreenProfessor: Tobar Byron Subject: International Strategic Management (BMI703) Date: 09/ 08/ 2014 Table of contents Executive summary the Problem/Opportunity the Organization’s current mission, goals and strategies the company s internal strengths and weakness (SWOT analysis) recommendation Selected recommendation Action Plan Implementation Conclusion Executive summary: Kalin is a Bulgarian entrepreneur. He tried toRead MoreMica Case Malincho Essay632 Words   |  3 PagesMICA Case Study: Malincho 1. Timmons Model of Entrepreneurial Process The Timmons model was developed by Jeffery Timmons to help entrepreneurs improve their odds of success. The model centres on that the entrepreneurship is opportunity driven. According to this model, first of all, it is the entrepreneur, who is the driving factor in launching a new company. Within the three components, the process starts with a market opportunity, where the size and type of opportunity will define the teamRead MoreMalincho Case Study Essay642 Words   |  3 PagesMalincho Case Study The Timmons entrepreneurship is a model that considers opportunities teams and resources available to an entrepreneur and holds that success depends on the ability of the entrepreneur to balance these critical factors. When applying the first part of the Timmons model to the Malincho case, Kalin got the idea of importing feta cheese and selling it to fellow Bulgarians on the East coast of America who were hungry for a taste of home. Once he identified this opportunity,Read MoreBa470 Week 1 Assignment791 Words   |  4 PagesMalincho Case Study Kalin searched for an opportunity, and on finding it, shaped the opportunity into a high-potential venture by drawing up a team and gathering the required resources to start a business that capitalized on the opportunity. In the process of starting the business, he risked his career, personal cash flow and net worth. The Timmons model bases itself on the premise that Kalin will earn rewards in commensuration with the risk and effort involved in starting or financing the business