Heather Evans Case Study

Eric Porter Heather Evans Case Study B283 Case Analysis Introduction: Heather Evans grew up with a father who lived deep in the business world as an attorney in the Wall Street Firm. She desired to create and run her own clothing store. After doing very well in school she began to seek out investors who could fund her company, but the stakes were high indeed. Evans will need to hone her negotiating skills to a T if she is to still own any portion of the company in the end. Problem Analysis: -Major problems and challenges facing employees and organization: The biggest challenge that Evans faces is financing. Though it is commendable that she is attempting to start her business while still at school, it seems unwise due to the conflict of time. She must travel by plain from Boston to New York weekly which over time is very financially consuming. It would have been far easier to wait that last year to finish school and allow her the time required to meet with her desired investors and create an effective business plan. Evans also struggles with finding employees that can be as valuable to the company as she is. She did have connections with others from her Harvard days which helped her find some employees, but no one with her vision for her particular style of clothing. This causes Evans to take on two major rolls of the company both operating manager and chief designer. The location of a business is just as important, if not more important than the business itself. Evans has to choose between cheap building with mediocre location, or a very expensive building with superb location. This dilemma is a factor for all businesses -What do “I” think the business is doing right and what do “I” think they need to change: Something Evans is doing brilliantly is her education. She works to become very well rounded in her knowledge of how to run a business by first working with Morgan Stanly Investment Bank. This would surely help her understand banks positions on loaning money to businesses. Evans doesn’t stop there though. She realizes she needs more schooling and goes to Harvard Business School. Even if she could have learned the same things from an online school it would not have had the prestige to impress others to invest their money toward her. And finally she also obtains a summer job which gives her “in the field experience.” A secretary to the president of a company similar to one you want to run is ideal, allowing her to observe the decisions that must be made regarding marketing and design. Education, Financial experience, and business experience are critical in running a complex business; Evans has them all. Evans did well in seeking other opinions from different companies on who to hire. But she did further well in not just relying on a single source. Barbara unknowingly helped Heather learn that some people are just good liars. She also learned the value of second opinions. Recommendations: First of all, Evans had a guy doing the designing. If she wants someone to understand women’s business apparel, she should have found a woman designer who has to wear it from day to day and understands the changes that need to be made. Secondly, Evans needs to find a financial helper. Someone who could keep track of the investors, their terms, and seek out others at the same time. With Evans so enveloped by the minor details she is distracted from her biggest hurdle. Conclusion: Evans has done a remarkable job at putting her portfolio together. Her Marketing strategy is clean and to the point stating who she wants to focus sales on, how she will get the customer’s attention, and most importantly why they should invest their money into her company. There is great detail for the future including who she will hire. No investor likes the idea of a one manned, or “one womaned” clothing store. She not only tells them that she will be hiring others to help, but also details who they are and what they will be doing for the company. With the business portfolio complete, the only thing that is holding her back now is funding, and with the final touches she should be very successful in getting her business of the ground.