A historical and critical analysis of an entrepreneurial venture (Gap Essay

A historical and critical analysis of an entrepreneurial venture (Gap Inc.) - Essay Example He believed that he could do the business his own way creating a unique entry into a market flooded with casual wear stores. 1.2 The Entrepreneur Gap Inc. is an organization whose brainchild id Don Fisher and his Doris. The business started as a small family business in San Francisco where he lived with his family. Don came from a middle class family, which had settled in a two-storey house in San Francisco. Don had great vision from early stages in life. He could recall great constructions in United States such as Golden Gate Bridge, which sparked his life to create a difference in a lifetime. His personal life includes spending time in the beach as a way of enjoying his weekend. Don attended UC Berkeley University where he studied business administration degree (Don, 2009:12). Don recalls that his business ideas came from his early days in the University where his, which he attest did not cut across his mind. Don worked as US Naval reserve and participated in making decisions for h is father in business meetings. He married Doris who altered his life to become a renowned entrepreneur a cross the globe. 1.3 Opportunity for the venture Don had the idea that business could not just pay his bills but would also excite him. He took some time to achieve this ambition. Don asserts that without bad lack Gap Inc. would not be in history. Don who had been in business with his father, branched out to initiate his own business in mid 1960s. Don used the first opportunity that came his way when he bought Capitol Park hotel. He refurbished the building and leased some of its space to Levi’s sales representative. Levi’s sales person took the opportunity to open a showroom within the building. Don mentioned that he enjoyed the arena created by the showroom in the building. Opportunity for the business venture came when Don could not find the right pant size. He had bought pants that could not match their needs. Don recalled that Doris and him walked through the streets of San Francisco and failed to get the right sizes. Then the idea came what if someone stocked all sizes. 1.4. The motivation to found the venture Don motivation was Levi’s showroom in his capital park hotel building that he had bought. Don and Doris figured the situation around the city and felt that it was a good idea to create their own retail store that would cater for age 12 to 25. The urge to change the underlying situation motivated their idea of business. Don had stated that he had little idea about retail business but that could not let his views collapse in one drop. Don noted that he did not have a similar competitor in San Francisco bay that had similar products. Business personalities are keen to evaluate factors that would make their business thrive. 1.5. Exploitation of the venture and acquisition of resource Don thought of the name of his new venture and settled to name Pants and Discs. His wife Doris changed the name by giving the business opportunity the name Gap. Don conducted a market research before a writing a business plan about the intended store. He noted in his market research that the location of the Capital Park building would address the needs of customers age 12 to 25. The location had adequate parking. He outlined that his success would depend on right employees and adequate stock. He could not afford to ignore the influence of stock or capital for the business. Gap creation was to exploit the existing resources that Don acquired. Resource acquisition and