Entrepreneurship is often considered a critical factor in the success of any business. Many businessmen and women around the globe have succeeded because they were entrepreneurs. This study has focused on two women entrepreneurial Titans; Mary Kay Ash and Anita Roddick and how they shaped the business world with their unique ideas. The two leaders share almost similar experiences.
¶ … Entrepreneurial Titans - Mary Kay Ash and Anita Roddick
From time immemorial, entrepreneurship has undeniably been a crucial part of human life. Entrepreneurship entails identifying and starting a business as well as organizing and sourcing the required resources to start the business venture. It also entails taking risks and rewards associated with some business ventures. Entrepreneurship may revitalize mature organizations or result in new firms in response to perceived business opportunity. This report will attempt to compare two entrepreneurial titans- Anita Roddick and Mary Kay Ash as leaders and managers. Secondly, it will attempt to explain the achievements of both women. It will also evaluate various quotes made by the two women about their business ventures. I will then provide recommendations to both entrepreneurial titans concerning various business matters (Rigby, 2011).
Similarities
First, Roddick was an international businessperson, environmental campaigner and a human rights activist born in Britain. She was the founder of the company "The Body Shop." This is one of the world's most successful retailers of cosmetics and other related products. The Company was the first to proscribe the use of components tested on animals. The Company was also the first to promote fair trade, especially in the third world countries. The organization produced and retailed natural products that helped in shaping ethical consumerism. She was also involved in campaigning for social and environmental issues, including The Big Issue and Greenpeace. Roddick was the founder of Children on the Edge in 1990. This charitable organization aimed at helping disadvantaged children in Asia and Eastern Europe (Boyett & Boyett, 2000).
On the other hand, Mary Kay ash is an American businessperson. She is a visionary entrepreneur, dynamic speaker and a visionary entrepreneur. The traits elucidated her powerful entrepreneurial and leadership skills within her community. She was the founder of Mary Kay Inc. Her accomplishments and achievements undoubtedly left an unforgettable mark on many businesses, opened many opportunities and doors for women all over the globe to experience, and achieve success on their own terms. The charismatic, innovative, and optimistic woman fought the barriers she encountered in the male-dominated society (Miller, 2012).
Differences
Anita Roddick opened her first body shop entirely out of desperation. She opened it with the aim of sustaining the life of her children and herself when her husband travelled to South America. Her main idea was to provide skin care products in containers that were of sample sizes and refillable containers. She hoped to market them with truth rather than hype. She created cosmetic products out of every ingredient she could locate in her garage. Her first shop was in Brighton, England, constituting of only fifteen products. She was able to finance the shop, using her hotel as a guarantee. Her cosmetic products contained components that women used in their cleansing rituals (Shavinina, 2013).
With its popular demand for the products and a strong environmental flare, Roddick was able to open a second shop within only ten months of her husband being gone. The clients wanted to sell the products, and in the year 1984, the firm went public and spread franchises in England. Currently, the Body Shop Company has over 1,980 stores and over eighty million clients in fifty different markets. These markets serve clients in over twenty-five different languages. This success puts Roddick's worth at over $200 million. In the year 2006, the organization became an independent subsidiary managed by the L'Oreal Group (Crossan, Gandz, Seijts, & Stephenson, 2010).
On the other hand, Ash opened a business out of frustration. She started by working for an organization called Stanley Home Products. Ash won the title "Queen of Sales" and became the top sales producer. She was very frustrated and disappointed that she did not receive the importance she deserved. This is because men that were less talented than her were given preference. In 1952, she was hired by a company called World Gift Co. It is here that she showed her talents and skills as a businesswoman by extending the Company's distribution to 43 states. Ash gained a position in the board of directors, but she felt that her suggestions and comments were often ignored by men. She later retired in 1962 after getting a promotion (Boyett & Boyett, 2000).
Ash wrote a book to assist women that wanted to engage in businesses. This is how the idea of founding Mary Kay Cosmetics came into mind. In 1963, she founded the Company with a starting capital of $5,000. Her business prospered, especially after her interview at CBS in 1979. The sales persons showed consumers how to use the cosmetic products to enhance their appearance. Ash went ahead to gift her top consultants with cars, diamond jewelry and elite vacations. This was a successful strategy in that she became a millionaire by 1968. Currently her company employs over 500,000 consultants all over the globe. Ash actively participated in all the business undertakings of her company until her death in 2001 (Miller, 2012).
What their achievements says about women in general
First, it shows that women have equal rights and equal opportunities to their male counterparts. Mary Kay was on several occasions shunned by her male colleagues. Her suggestions and ideas were not taken with due seriousness. Secondly, it shows that women are strong willed and are motivated when they encounter challenges in their businesses. Both women started businesses with little capital. However, the circumstances did not discourage them from undertaking the business ventures. Thirdly, it shows that women are team builders. Mary Kay led a team of consultants and motivated them through gifts such as cars. This company gave her great success. Fourthly, it demonstrates that women are human rights activists and compassionate to the less fortunate. This is seen Anita Roddick's actions when he offered donations to help the less privileged children (Shavinina, 2013).
Mary Kay Ash's quote
"People are definitely a company's greatest asset. It doesn't make any difference whether the product is cars or cosmetics. A company is only as good as the people it keeps." She demonstrated this by gifting her top consultants with cars, diamond jewelry, and elite vacations. This was a successful strategy in that she became a millionaire by 1968. This showed that she highly regarded her employees and was determined in retaining them (Rigby, 2011).
You’re 84% through this paper. Sign up to read the full paper.
Sign Up Now — Instant Access Already a member? Log inAlways verify citation format against your institution’s current style guide requirements.