INDIVIDUAL ASSESSMENT SPECIFICATIONS 2020-2021
Module Code: MN323
Module Title: International Corporate Entrepreneurship
Latest Time for Submission:
Submission: Soft Copy through Turnitin on Moodle (Standard Business School late penalties apply to late assignments)
% of total marks allocated: 60% of the module
Word Count: Report: 2,000 Words (+/- 10%)
Required Cover Page: Module Code Date Lecturers
Student Name & Student Number Word Count
Grading: Overall mark for CA 60% (60 out of 100)
You will work individually on an assigned case study. You will be required to complete 3 out of 4 questions. PLEASE ONLY COMPLETE A MAXIMUM OF 3 QUESTIONS. Each question carries 20 marks.
Title: McCambridge Case Study
Access Link: Available on Moodle course page
- A) What role does innovation play in meeting customer demands for an entrepreneurial venture? (10 marks)
- How does Michael McCambridge accomplish this at McCamridge Limited? (10 marks)
- A) The case discusses Michael’s growth strategy which entails acquisition of other businesses. What elements should Michael pay attention to when selecting the businesses he acquires? (10 marks) In answering this question, think about the nature of the business at hand, whether the business fits well with the priorities of the organization and any contextual elements (changes in technology/changes in the market) that may make this an interesting opportunity to invest for McCambridge
- Discuss the different growth options that are available for an established venture from a corporate entrepreneurship standpoint and explain the factors that managers should keep in mind when considering each of these options. (10 marks)
- What are the key differences in the process of developing an opportunity within a corporate environment as opposed to developing it independently? In answering this question, you can think about the differences in terms of the availability of resources, risks surrounding the opportunity development process and returns from engaging in an entrepreneurial endeavor among other factors. (20 marks)
- A) How does an organization’s structure and design affect the organization’s ability to enhance corporate entrepreneurship? (10 marks)
- What kind of an organizational culture should Michael strive to build in order to enhance entrepreneurship at McCambridge? (10 marks) In answering this question, you
can draw upon the discussions from learning organization, organizational culture and organizational structure.
You should be convincing when addressing each of the above questions. This means you must demonstrate appropriate research. Read the McCambridge Case Study accompanying this assessment brief and answer 3 out of 4 QUESTIONS using mainly theory to support the points you raise or propose to McCambridge’s management. It is also recommended that you draw on other examples from the textbooks, journal articles, the business environment in Ireland & elsewhere to support your arguments/proposals.
MU’s referencing policy is available at: https://www.maynoothuniversity.ie/sites/default/files/assets/document/The%20Ref%20Po int%202nd%20ed%20final_0.pdf
A detailed grading breakdown is provided on the final pages of this guide.
The due date for this assessment is 14th May 2021 @ 12noon. You will submit your assessment in softcopy via Moodle. Standard School of Business Late Penalties apply.
Please save the file as Student Name, Student Number (Jack Burns, 0009604765).
Word count: 2000 words (+/- 10%). References/bibliography and appendices are not included in the word count. The key to academic writing is to get your point across concisely, and to avoid including information that is irrelevant to your main argument.
Font: A professional font, for example Arial.
Size: 12, 1.5 Line Spacing
MARKS AND STANDARDS
SPIRIT OF ENTERPRISE
McCAMBRIDGE THE STORY
This case tells the story of Michael McCambridge and the family business that he now runs. The business was started by Michael‘s grandfather who moved from Galway to Dublin in 1945 and opened a general grocery shop in Ranelagh. Michael’s father went into the business at the age of fourteen and he eventually became owner of the business. The shop was now selling additional items and had regular customers and a large passing trade. Michael’s father believed that an effective sales person should always focus on what the customer wants. For Michael’s father it was a common-sense decision. He would try to source anything that customers asked for, no matter how unusual. For example, cheeses, yoghurt and salami – all of which are now taken for granted – were stocked because customers enquired about them.
During the next phase of development, the company started making and packing products’ roasts, hams, salads, coleslaws and Irish ice cream, in their own kitchen for sale in the shop. This is an example of a very short supp/y cha/n, when there is a direct link between the supplier and the retailer. \t means that the company had complete control over its quality standards and could ensure freshness and speed of deliver y. The family used their mother’s recipe to make brown bread. They could genuinely stale that their product was ’home made’ and ‘natural’. This is known as a unique se///ng proposition or unique selling po/nt (USP). This family recipe is still used to produce their famous Stoneground Wholewheat Brown Bread.
Michael went to school at St. Michael’s in Ballsbridge, Dublin. He went to UCD to study Law and followed this with a postgraduate Business Diploma. He then spent four years working for Guinness in sales and marketing where he gained experience which was to prove very useful in later times.
In the meantime, the family business had grown, Tragically, Michael’s parents were killed in a cat crash in Connemara in June 1994. The following September, Michael left his job at Guinness and had to ’jump in at the deep end’ and take ovei the business at the age of 27. He knew the customers and he could certainly bake bread, but he had to learn all the operational and business skills associated with the enterprise. Entrepreneurs, whether in start up phase or in growth phase, often have to master a number of disparate skills in a limited time. Typically, entrepreneurs are noted for their creativity and innovation. However, eventually they also have to recognise tne need for order and tor sound routine business processes such as IT, marketing, financial control, quality control and distribution systems. Michael’s next step was to recruit a Marketing Executive so that he could concentrate on the many other aspects of the business.
Why distribution is important
For bakers, distribution is extremely important. The length of time that a product can remain in the shop before being sold is called the she// life of the product. Bread and other bakery products have a short shelf life. Therefore, they must get to the shops quickly and be sold quickly. Accordingly, it is necessary to deliver to shops on a frequent basis. The product leaves the bakery throughout the day for immediate delivery to warehouses and onward distribution to shops, canteens and gueslhouses throughout the country. McCambridge contract Irish Pride Bakeries to distribute the products. When a company contracts some ot its work to another company in this way it is called outsourcing. In the Dublin area the company handles its own distribution with its own fleet of yans.
Advertising and promotion is also critical
The food business is highly competitive so marketing is a serious challenge. Michael is very conscious of the power of advertising and promotion in raising awareness of the McCambridge brand. in-stole promotions are often used because they allow direct communication with customers while they are shopping. Michael believes in keeping close to the customer just as his grandfather and father did. Radio and TV advertising campaigns are also used and have been very effective.
Michael continues to focus on innovating to meet customer needs. It is difficult to keep natura) brown bread fresh and many companies add special ingredients to accomplish this. McCambridge introduced their well known re-sealable pack so that customers can keep the bread fresh for as long as possible. The pack is produced by a special machine which was sourced in Holland after months of research.
The food industry today is increasingly focusea on health issues. McCamDridge are leaders in this field. Their products have a clear health appeal, being high in dietary fibre and low in fat with no yeast or added sugar. Michael now employs a Food Scientist to ensure that McCambridge products meet all health requirements.
Taking the business into the future
McCambridge was already a recognised business when Michael took over, so the issue tor him was growth. Much of this growth has been through acquisition. Through the work of the Board of Directors and the learn at McCambridge, the company has acquired six businesses over the last five years, two in Ireland and four in the UK. Turnover has increased fiom C1m to C20m. Michael is also intent on building an asset 6ase and prefers to purchase the properties (the actual bakeries) as well as the business. Indeed, he insists that the existing management team comes with the business before he completes the deal. When asked about his ‘success tips’, Michael says, ’You musf delegate and let your staff do the job 6u/ you must communicate with them and be genuine about it. Don’t put off things until tomorrow and always remember cashflow is cr/tical’. Following these principles, Michael and the team at McCambridge continue to grow the family business, taking it in new directions while still retaining family traditions of quality and customer service.
McCambridge Limlted is a wholly Irish owned food manufacturing company. the company is còmmitted to producing quality food products. The modern facilità holds the BRC (British Retail Consortium) Food Standard to hígher level for manufacturing and distribution of bread and cakes. McCambridge Ltd. also operates a full Hazard Analysis and Criticat Control Point System (HACCP).
The company is dedicated to reducing the environmental impact of its operations wherever possible and has been a member of Repak since 1999. This means the Green Dot symbol is printed on the packaging. McCambridge are committed to protectíng the environment by funding the recycling of packaging waste.
McCambridge produce a variety of food products including ice cream, cakes, puddings, and many types ot bread. It is a company policy not to use artificial preservatives, colouring or flavouring in any of the products. The best known McCambridge product is Irish Stoneground Wholewheat Brown Bread which uses the unique family recipe. This product can actually be purchased on line and delivered fresh to customers in the UK.
McCambridge currently employs 350 people in lreland and the UK
- A) what role does innovation play in meeting customer demands for an entrepreneurial venture?
Innovation encompasses the development xxxxxxof new designs and different ways of conducting things.xxxxxxx It also involves the development of new products and services.xxxxxx Consumer demands on the other hand xxxxx, is the preference of consumers to use certain products and services. Consumer needs are continually changing,xxxxxx and therefore businesses need to be innovative. Innovation keeps customer demands on top despite the dynamic nature of these demands Innovation leads to introduction of more developed xxxxxxxxxxxx
(2190: word count)