Entrepreneurship and Marketing Session 1, 2016 Assignment 1: Case Analysis \u00e2\u20ac\u201c ZambreroPaper Details
\nMNG91002 \u00e2\u20ac\u201c Entrepreneurship and Marketing Session 1, 2016 Assignment 1: Case Analysis \u00e2\u20ac\u201c Zambrero
\nCore Information:
\nDue: Before 11:00 pm, Friday 8thth April 2016 Weighting: 20% Individual\/Group Individual Assignment Word limit: 1200-1500 words in total (plus or minus 10%)
\nPlease read the following article, sourced from http:\/\/www.australiaunlimited.com\/business\/aprince-among-men. Questions related to the article will appear following:
\n\u201cHere I am, a Scottish-born Australian doctor with Sri Lankan heritage running a chain of Mexican restaurants and doing aid work in the Asia-Pacific region in places like Cambodia, Sri Lanka and Vietnam and now in remote communities in the Northern Territory,\u00e2\u20ac\u009d says Dr Sam Prince. \u00e2\u20ac\u0153So I guess I find my life a bit of a mess.\u00e2\u20ac\u009d
\nIt\u00e2\u20ac\u2122s a mess that many other 28-year-olds would like to find themselves in.
\nPrince started the restaurant chain Zambrero Fresh Mex Grill at 21 while still at medical school and has gone on to grow the chain to over 17 stores while holding down a full-time job as a doctor. With 170 staff and an annual turnover of $13.7 million, BRW magazine named it the fastest-growing franchise in Australia for 2011.
\nSoon afterwards, Prince set up the Emagine Foundation, through which he\u00e2\u20ac\u2122s built 15 schools in Sri Lanka, Vietnam and far north Queensland, and plans 100 more in the Asia-Pacific region by 2014. Then there\u00e2\u20ac\u2122s the \u00e2\u20ac\u02dcplate for plate\u00e2\u20ac\u2122 initiative, which means for every meal sold at Zambrero, a plate of food is donated to the developing world. Working through its distribution partner, Action Against Hunger, it has already delivered 279,000 plates of food to the Therapeutic Feeding Centre in Liberia, Africa.
\nPrince is also chairman and founder of One Disease at a Time, set up in 2010 to work on eradicating scabies, a disease rife among Indigenous communities. His prodigious achievements saw him named as the 2012 Young Australian of the Year for the Australian Capital Territory.
\n\u00e2\u20ac\u0153Sam Prince does the work of 100 men, improving the lives of thousands through his innovative medical, business and aid projects,\u00e2\u20ac\u009d stated GQ in naming him the 2011 Man of Chivalry in its annual Men of the Year list.
\nWhen we meet at the Hilton Hotel in Sydney, Prince, who lives between Canberra and Sydney, is on a six-month sabbatical from practicing medicine. But this is no schoolboy break \u00e2\u20ac\u201c he\u00e2\u20ac\u2122s using the time
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\nto set up a stem cell company and an alternative energy company. He\u00e2\u20ac\u2122s also planning to open about 30 new restaurants in Australia, taking the number of Zambrero outlets to 50 by the end of the year, and fit in some fieldwork in East Arnhem Land before returning to clinical practice in the middle of the year.
\nFrom the wise age of 28, Prince admits to being fairly na\u00c3\u00afve when he first headed to Asia as a 21year-old. He\u00e2\u20ac\u2122d made a bit of money in business and wanted to give something back. He chose SouthEast Asia as the initial focus of his aid work because he\u00e2\u20ac\u2122d seen the value a free education had given his own parents who came from humble beginnings in Sri Lanka.
\nHe learnt three significant lessons.
\nLesson one: before you do any kind of aid work ensure you have a clear understanding of what you believe is a basic human right and what you believe is a basic human responsibility. And, yes, there\u00e2\u20ac\u2122s a clear line between the two, he says. \u00e2\u20ac\u0153As doctors we take the Hippocratic Oath of \u00e2\u20ac\u02dcfirst do no harm\u00e2\u20ac\u2122. If you actually don\u00e2\u20ac\u2122t understand where that line is you can end up harming people by taking power away from them when you start doing things that you think are basic human responsibilities,\u00e2\u20ac\u009d says Prince.
\n\u201cYou have to run an aid organisation with the same rigour as you would a business.\u201d
\nLesson two: When he thinks back to working in emergency departments in hospitals, he recalls the look of sheer desperation in the eyes of people wheeled into the emergency departments after suffering a medical emergency, such as a heart attack. He saw the same look in the eyes of the people he was helping. \u00e2\u20ac\u0153It\u00e2\u20ac\u2122s the eyes of people who are truly desperate for your help, money, time, effort, education or healthcare,\u00e2\u20ac\u009d says Prince. \u00e2\u20ac\u0153For me to sleep at night and to be able to look into the mirror and know that I\u00e2\u20ac\u2122ve done things ethically every step of the way I knew I could have no agenda. No political or financial or religious agenda. That seemed so important to me and it was a value that we didn\u00e2\u20ac\u2122t ever cross.\u00e2\u20ac\u009d
\nLesson three: You have to run an aid organisation with the same rigour as you would a business. \u00e2\u20ac\u0153I thought that just because people were in need and needed a hand up that they were all good people,\u00e2\u20ac\u009d he says. \u00e2\u20ac\u0153The reality is that\u00e2\u20ac\u2122s not the truth. People are good and bad, just like there are good and bad people in every other demographic.\u00e2\u20ac\u009d
\nFrom Asia, his focus shifted closer to home to indigenous communities. The idea behind One Disease at a Time was sparked by a conversation with one of his mentors, Frank Bowden. The professor of medicine at the Australian National University Medical School had eradicated the sexually transmitted disease donovanosis out of Australia permanently in four years at a cost of $4 million and 10 staff. \u00e2\u20ac\u0153That\u00e2\u20ac\u2122s not a lot of money, time or resources and I thought \u00e2\u20ac\u02dcwow, that\u00e2\u20ac\u2122s something I can do as a doctor, aid worker and entrepreneur\u00e2\u20ac\u2122,\u00e2\u20ac\u009d says Prince.
\nProfessor Bowden, who sits on the board of One Disease at a Time, first met Prince when he was a resident medical officer at the Canberra Hospital in 2008. \u00e2\u20ac\u0153He was already running a number of businesses and had begun his philanthropic work in Sri Lanka,\u00e2\u20ac\u009d says Professor Bowden. \u00e2\u20ac\u0153I am constitutionally suspicious of medical entrepreneurs who, in my experience, can put the pursuit of financial gain before the desire to care for their patients. The exact opposite applied to Sam \u00e2\u20ac\u201c the son of one of my friends had been looked after by Sam in our emergency department one Saturday afternoon. My friend described the appearance of Sam amid the controlled chaos of the hospital as something like a magician waving his wand to create a bubble of peace and calm around his son. This is a special and rare talent.\u00e2\u20ac\u009d
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\nAnother key person involved with One Disease at a Time is Professor Jonathan Carapetis, head of the Menzies School of Health Research at Charles Darwin University. His research revealed a link between skin infections caused by the scabies mite and the potentially fatal rheumatic heart disease. The mite that gets under the skin can also lead to kidney failure. While the disease doesn\u00e2\u20ac\u2122t register among non-Aboriginal Australians, in communities such as those in East Arnhem Land, seven out of 10 children are infected with scabies.
\nPrince takes the question of \u00e2\u20ac\u02dcwhy Aboriginal health \u00e2\u20ac\u2122 as a philosophical challenge. His view is that while not everyone should end up in the same place, everyone should be given a chance to start off at the same place. \u00e2\u20ac\u0153While education is great at liberating people from dire circumstances,\u00e2\u20ac\u009d he says, \u00e2\u20ac\u0153there\u00e2\u20ac\u2122s a basic level of healthcare you need to reach before you can then go on to catapult yourself with a great education.\u00e2\u20ac\u009d
\nThis realisation flipped the hierarchy of basic human rights for Prince from education one, healthcare two, to healthcare one, education two.
\nWhen his mother, Dr Thilaka Prince, topped the district in her final exams in her rural village near Galle in Sri Lanka, his maternal grandfather was distraught because he couldn\u00e2\u20ac\u2122t afford to send her to university. Never mind, his mother won a scholarship to study economics at Colombo University and went on to get five degrees. Another scholarship took her to the UK to do a PhD in statistics; Prince was born in Dundee, Scotland, five days after she finished her doctorate. Her journey would shape who he would become.
\n\u00e2\u20ac\u0153I\u00e2\u20ac\u2122d been born in to a completely different world \u00e2\u20ac\u201c one where everything was possible if I put my mind to it \u00e2\u20ac\u201c to the one she had known,\u00e2\u20ac\u009d says Prince. \u00e2\u20ac\u0153And I owed it all to a very humble beginning. It wasn\u00e2\u20ac\u2122t just me who benefited from this. My Mum continued her life with a great amount of dignity and passion and a deep-seated responsibility to give something back to her family and the community to which she came from.\u00e2\u20ac\u009d
\nThe Prince family moved to Canberra in 1986 after his parents decided it was safer in Australia than Sri Lanka because of the civil war. While they\u00e2\u20ac\u2122d lived in the relatively safe Colombo it was hardly a safe haven considering the prevalence of suicide bombers. \u00e2\u20ac\u0153It didn\u00e2\u20ac\u2122t matter where you lived, it didn\u00e2\u20ac\u2122t matter if you were living in the front line or Colombo, because your kids might go out one day to a market and that could be the end of their lives, or they could be seriously injured,\u00e2\u20ac\u009d says Prince. \u00e2\u20ac\u0153They decided they didn\u00e2\u20ac\u2122t want that for myself and my sister and they decided to emigrate. Mum was an amazing statistician and got a job in the Australian Bureau of Statistics.\u00e2\u20ac\u009d
\nPrince obviously inherited his mother\u00e2\u20ac\u2122s penchant for study. He did his final years of high school at Lake Ginninderra College and at 16 was at Australian National University (ANU) studying literature and astrophysics. After a year he decided he preferred biology, and its practical application in medicine, and enrolled in med school. He graduated with a Bachelor of Medicine and a Bachelor of Surgery at Monash University before returning to Canberra.
\nHis mother is now retired. But after all the sacrifices she made she\u00e2\u20ac\u2122d probably prefer it if he was just a doctor.
\n\u00e2\u20ac\u0153She gets a bit worried when I get stressed out about other things, but it\u00e2\u20ac\u2122s very interesting because she had a life of struggle and now while I\u00e2\u20ac\u2122m not struggling, I am working very hard,\u00e2\u20ac\u009d he says. \u00e2\u20ac\u0153You do what you\u00e2\u20ac\u2122ve learnt and seen and I\u00e2\u20ac\u2122ve watched my Mum work hard all her life, so I don\u00e2\u20ac\u2122t think I can do anything differently.\u00e2\u20ac\u009d
\nFor the past decade, he\u00e2\u20ac\u2122s been getting by on four hours sleep a night. Asked about the risk of burning out, he admits it\u00e2\u20ac\u2122s his biggest fear.
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\nWhile medicine has always been a really fulfilling career for Prince \u00e2\u20ac\u201c he loves the patient care, the art of the bedside manner, and the challenges \u00e2\u20ac\u201c he recalls going through a process where he thought he was an entrepreneur masquerading as a medical student rather than the other way around. In 2009 Prince appointed his first chief executive officer, Stuart Cook, to run the Mexican food chain. He\u00e2\u20ac\u2122d met the then 23-year-old Cook on a bus on the way to the Taj Mahal. Prince was in India to pick up an award from the Junior Chamber International making him one of the 10 Outstanding Young People of the World in 2008. The award was in recognition of the aid work he\u00e2\u20ac\u2122d done in South-East Asia. This included the aforementioned 15 schools and the public education campaigns he\u00e2\u20ac\u2122d run in Sri Lanka to reduce the number of deaths from snake bites and dengue fever.
\nPrince says the financial success of Zambrero has essentially bought him his freedom.
\n\u00e2\u20ac\u0153You can get to a point in life where you are not forced to do anything, you are not forced to go to work 9-5 for a job or a career because you\u00e2\u20ac\u2122ve got golden handcuffs to a house that you can\u00e2\u20ac\u2122t quite afford, and you have to do this work for a third of your life,\u00e2\u20ac\u009d he says. \u00e2\u20ac\u0153I figured out early on that what makes me really happy is adventure and discovery. If I have those two things in my life I am really, really happy.\u00e2\u20ac\u009d
\nWhile his plans to roll out 30-plus new restaurants this year sounds risky, Prince claims he\u00e2\u20ac\u2122s inherently averse to risk. All the restaurants in the chain are profitable and have grown organically rather than by taking on debt.
\nThe idea of starting a restaurant struck while he was working at a chef in at a Mexican restaurant to put himself through medical school. He saw the growth of a new sort of Mexican grill in the US and a gap in the market locally for fresh, healthy, gourmet Mexican food. He opened his first restaurant in Canberra in 2005 with an investment of $10,000.
\n\u00e2\u20ac\u0153It was one of those things that you feel so strongly about that you actually have to do something about it,\u00e2\u20ac\u009d he says. \u00e2\u20ac\u0153Plus I love Mexican food. I was absolutely obsessed about chocolate mole, nachos, chipotle and jalapenos. Real Mexican food is so different to what Australians had been taught to expect.\u00e2\u20ac\u009d
\nWhile he doesn\u00e2\u20ac\u2122t know exactly what drives the extremely ambitious Prince, Professor Bowden says unlike most entrepreneur\/philanthropists who make their money and then distribute it in their fifties, Prince seems intent on distributing it now. \u00e2\u20ac\u0153I would venture that some of his motivation is competitive \u00e2\u20ac\u201c he likes to succeed where the stakes are high, but his actions are underpinned by a philosophy of service to the community,\u00e2\u20ac\u009d says Professor Bowden. \u00e2\u20ac\u0153I have pushed myself to do new things and to persist where I may have otherwise given up after talking to him about his owns plans.\u00e2\u20ac\u009d
\nHe adds that the elimination of scabies from East Arnhem Land is an incredibly difficult task and noone has any illusions that a simple investment of more money will solve a complex problem that is as much a social issue as a medical one. However, Professor Bowden is confident that the energy Prince has already expended and the relationships he will continue to develop will pay off.
\n\u00e2\u20ac\u0153You have to be patient with initiatives in Aboriginal health. But you also have to be brave and resilient as there will always be people who will criticise your actions and question your motives,\u00e2\u20ac\u009d says Professor Bowden. \u00e2\u20ac\u0153I have no doubt Sam will persevere and that we will be able to develop a successful model that can be applied in other communities in Australia.\u00e2\u20ac\u009d
\nPrince clearly clocks up an impressive number of hours each week, but for him work and play blend into one. For the past decade he\u00e2\u20ac\u2122s been getting by on about four hours sleep a night. Asked about the risk of burning out, he admits it\u00e2\u20ac\u2122s his biggest fear, something he\u00e2\u20ac\u2122s constantly pontificating about
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\nwith his friends, mentors and colleagues. Perhaps harking back to that year of literature at ANU, he reads out a quote from Ayn Rand that sums up his feelings about living a full life.
\n\u00e2\u20ac\u0153\u00e2\u20ac\u00a6 It is a sense of enormous expectation, a sense that one\u00e2\u20ac\u2122s life is important, that great achievements are within one\u00e2\u20ac\u2122s capacity and that great things lie ahead. It is not in the nature of man, or that of any living entity to start by giving up, or spitting in one\u00e2\u20ac\u2122s own face and damning existence. This requires a process of corruption whose rapidity differs from man to man. Some give up at the first touch of pressure, some sell out, some run down by imperceptible degrees and lose their fire, never knowing when or how they lost it\u00e2\u20ac\u00a6\u00e2\u20ac\u009d
\nGiving up is simply not an option for Prince, but the reason he manages to get so much done is he\u00e2\u20ac\u2122s attracted a team of talented people around him. About 300 people are involved in his various enterprises.
\nSamantha Cran, chief executive officer of One Disease at a Time, first met Prince at a business\/networking event. She recalls being taken aback by his ability to translate his core values into actions and felt she had to be part of the movement. She started as a volunteer before becoming the CEO. \u00e2\u20ac\u0153Sam is the ultimate definition of an entrepreneur,\u00e2\u20ac\u009d says Cran. \u00e2\u20ac\u0153Whether it\u00e2\u20ac\u2122s in business or healthcare, for each industry he is the visionary who can see a gap in the market before others do and then diligently backs himself to fill it. He also has the tenacity to push through any barriers \u00e2\u20ac\u201c it is this \u00e2\u20ac\u02dcwill\u00e2\u20ac\u2122 that people recognise early and are truly inspired by.\u00e2\u20ac\u009d
\nPrince puts the willingness of others to get involved down to him wearing his dreams on his sleeves. \u00e2\u20ac\u0153By virtue of claiming it and saying, \u00e2\u20ac\u02dcI want to do this\u00e2\u20ac\u2122, and being open about it, this activates the people around you,\u00e2\u20ac\u009d says Prince. \u00e2\u20ac\u0153I think there\u00e2\u20ac\u2122s just such an abundance of people who can help you. We live in a scarcity concept where we feel like there\u00e2\u20ac\u2122s only one person in the world who can help you achieve your dream, there\u00e2\u20ac\u2122s probably 10 of them and they are probably sitting in this cafe right now.\u00e2\u20ac\u009d
\nThe Overall Task
\nThe following questions are all based on the above Zambrero article published in Australia Unlimited. Basing your arguments on the topics that you have studied in the first five weeks of this unit, write a report addressing the following two questions:
\na) Entrepreneurs have been identified as having certain traits and characteristics. Discuss the extent to which Zambrero founder Sam prince exemplifies these traits and characteristics. Justify your response with reference to academic sources (e.g. academic journal articles, textbooks, etc.). b) The article clearly outlines what we might consider \u2018social entrepreneurship\u2019, whereby an entrepreneur establishes and\/or leads an organisation or initiative engaged in social change. Outline three current trends that illustrate the social entrepreneurship movement. Again, you should be looking to use academic sources as the foundation of your review. Wikipedia or web blogs are not considered as \u2018sound\u2019 academic sources.<\/p>\n
Page 6 of 9
\nWrite up your analysis. This should be in a report format. Here is a suggested structure:
\na. Executive Summary b. Introduction c. Analysis of Entrepreneur traits\/characteristics (ie. linking them to Dr Sam Prince) d. Recent Trends in Social Entrepreneurship e. Conclusion f. References g. Appendix (if required)
\nSubmit the report via the Turnitin Submission Link (under Assessment Details on the Blackboard site)\u00e2\u20ac\u00a6be fully aware of the plagiarism rules in the School; plagiarism will not be tolerated.
\nThe marking criteria for the assignment can be found on the following page. They are published to give you detailed guidelines about the way in which your mark will be calculated. Please read them carefully. Note that they are a guide, not a definitive formula for allocating marks, and no set of criteria can accurately describe every possible assignment. Your final mark will reflect the application of academic judgement by your marker to your whole assignment.<\/p>\n","protected":false},"excerpt":{"rendered":"
Entrepreneurship and Marketing Session 1, 2016 Assignment 1: Case Analysis \u00e2\u20ac\u201c ZambreroPaper Details MNG91002 \u00e2\u20ac\u201c Entrepreneurship and Marketing Session 1, 2016 Assignment 1: Case Analysis \u00e2\u20ac\u201c Zambrero Core Information: Due: Before 11:00 pm, Friday 8thth April 2016 Weighting: 20% Individual\/Group Read More …<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-93480","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/93480","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=93480"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/93480\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=93480"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=93480"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=93480"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}