Business Finance – COURSEFIGHER.COM
BMGT110 WK5 A2 UMUC Bare Escentuals Entrepreneurial Traits- COURSE FIGHTER | coursefighter.com
Project 2 – Bare Escentuals (Week 5)
NOTE: All submitted work is to be your original work. You may not use any work from another student, the Internet or an online clearinghouse. You are expected to understand the Academic Dishonesty and Plagiarism Policy, and know that it is your responsibility to learn about instructor and general academic expectations with regard to proper citation of sources as specified in the APA Publication Manual, 6th Ed. (Students are held accountable for in-text citations and an associated reference list only).
The purpose of this project is for you to demonstrate an understanding between entrepreneurs and small business owners. You will also be relating how a business contributed to the economy in the 1990’s.
Outcomes Met With This Project:
You are also completing this project to help you develop the skills of critical thinking, writing and developing a personal brand. Writing is a critical skill because in business it is important to convey information clearly and concisely and to develop a personal brand. Developing a personal brand is important because it is the ongoing process of establishing an image or impression in the minds of others especially those in positions above you. Having a strong personal brand can lead to opportunities that include promotions.
Read the following case scenario and answer the questions that follow:
In 1994, Leslie Blodgett became CEO of a small bath and body retailer of mineral-based powder makeup, Bare Escentuals, located in a town in California. Although Bare Escentuals was the first company to offer mineral-based products, the colors of the products did not fit well with the skin tones of women. Having worked for Neutrogena and Max Factor, Blodgett set out to formulate beauty products that worked harmoniously together. The new line of makeup was known as BareMinerals and consisted of six blushes, six eye shadows, five powder foundations and brushes. The mineral-based foundation product was unconventional and provided light to maximum coverage for all skin types, which appealed to men and women of all ages. Products did not contain chemical additives, preservatives, oil, fragrances, waxes or binders that could lead to skin irritation.
Two years passed and Blodgett was losing hope that the product line was going to be successful. After watching the TV shopping network, QVC, Blodgett devised a plan to go on QVC to sell BareMinerals. The first airing resulted in sales of $45,000 of products. Blodgett had her in and continued to sell on QVC selling $1.4 million of product an hour. She further expanded the business by doing Infomercials, which allowed more time to explain the products and application process. Widening the distribution channel, Blodgett offered events at boutiques and specialty cosmetic stores, and solicited input from customers for product and marketing ideas. Blodgett learned that the business required taking care of customers and hiring people who loved people because the business was about helping women feel good about themselves.
Business at Bare Escentuals was booming and the company was growing at a fast pace. In 2006, the company went public. Headquarters was moved to New York. In 2010, after 16 years at the helm, Blodgett sold the company to Shiseido, a Japanese-based cosmetic company, for almost $1.7 billion. To Blodgett, the deal made sense because Shiseido had distribution channels in 87 countries and had the knowledge to expand further into Asia. Blodgett wanted to be more involved in the creative side of the business so she stepped down as CEO and took a position reporting to the Chief Operating Officer (COO) of Global Business at Shiseido.
Haines, A. (2012, Jan 12). Taking an exit but not saying goodbye. Retrieved fromhttps://www.forbes.com/sites/85broads/2012/01/24/taking-an-exit-but-not-saying-good-bye/#5fbacf1e2dff
Sherrill, M. (2011, June 10). Move Over, Estée Lauder. Retrieved fromhttps://www.nytimes.com/2011/06/12/fashion/leslie-blodgett-of-bare-escentuals-the-queen-of-beauty.html
You will use the following steps to complete this project. Make sure to complete each step to ensure the highest possible grade. Note that you are using the case scenario facts and the course material. External sources are not permitted.
Step 1: Write an Introduction paragraph
The Introduction paragraph is the first paragraph of the paper and will be used to describe to the reader the intent of the paper explaining the main points covered in the paper. This intent should be understood prior to reading the remainder of the paper so the reader knows exactly what is being covered in the paper.
Step 2: Entrepreneurial Traits
You learned about entrepreneurs and small business owners. Although these terms may appear synonymous, they are not. As CEO of Bare Escentuals, Leslie Blodgett could be depicted as an entrepreneur. Using the course material to support your ideas and reasoning:
Step 3: Economics
Early in the course you learned that there is a relationship between business and economics. Bare Escentuals was started as a small business. Using the case scenario facts and the course material:
Step 4: Conclusion
Write a concluding paragraph that is brief and summarizes the main points. Provide specific information related to the major topics discussed in the paper.
Step 5: Review the Paper
Read the paper to ensure all required elements are present. In conjunction with these instructions, use the grading rubric to ensure that you gain the most points possible for this assignment.
Proofread the paper for spelling and grammatical issues, and third person writing.
Step 6: Submit the paper in the Assignment Folder (The assignment submitted to the Assignment Folder will be considered the student’s final product and therefore ready for grading by the instructor. It is incumbent upon the student to verify the assignment is the correct submission. No exceptions will be considered by the instructor).
How to Set Up the Paper
Create a Word or Rich Text Format (RTF) document that is double-spaced, 12-point font. The final product will be between 2 – 3 pages in length excluding the title page and reference page. Write clearly and concisely.
Completing the Paper
In order to complete this project, you will want to first read the module, Learn How to Support What You Write, as this assignment requires you to use the course readings and research to support what you write. Also,
Self-Plagiarism: Self-plagiarism is the act of reusing significant, identical or nearly identical portions of one’s own work. You cannot re-use any portion of a paper or other graded work that was submitted to another class even if you are retaking this course. You also will not reuse any portion of previously submitted work in this class. A zero will be assigned to the assignment if self-plagiarized. Faculty do not have the discretion to accept self-plagiarized work.
PLACE YOUR ORDER NOW