Risk-Taking Against The Odds: The Case Of Lee’s Retail Store

Question

RISK TAKING AGAINST THE ODDS THE CASE OF LEES RETAIL STORE RISK-TAKING AGAINST THE ODDS: THE CASE OF LEE’S RETAIL STORE This paper presents the entrepreneurial efforts of a Chamorro woman who was born in the mid 1920’s, survived World War II as a teenager when Guam was occupied by the Japanese military during the 1940’s, and lost her husband when she was eight months pregnant with her second child. Armed with strong determination, and a reputation for being a survivor, Librada “Lee” Angoco Sablan Borja entered the world of small businesses. She established Lee’s Retail Store in the heart of the village of Agat, located in the southern end of Guam, a territory of the United States. As an entrepreneur who had faced unique challenges in her life, Lee raised her seven young children almost as a “single” mother, in an attempt to augment her livelihood. She had no prior retail experience to operate her small convenience retail store, faced heavy competition, and was completely unaware of any technical assistance or small business resources available to her as an aspiring entrepreneur. Lee had no prior training in managing and operating a small business, and had very little start-up capital. Her story concludes with a discussion of the business decisions made by this new entrepreneur, what lessons were learned, and what service could have assisted her throughout her entrepreneurial experiences.

Dr. Jack HW Helper · Accepted Answer

Introduction and Context Librada "Lee" Angoco Sablan Borja's entrepreneurial journey is a testament to resilience and determination. Born in 1925 in Guam, her formative years were marked by the trauma of Japanese occupation during WWII, which exposed her to hardships including violence, deprivation, and threats to personal safety (Sablan, 2009). After surviving such adversity, she faced personal tragedy with the loss of her first husband while pregnant, and later, managing a large family as a single mother. These experiences forged her strong character and a desire to forge economic independence through entrepreneurship. Motivation and Business Initiation Lee's primary motivation to start her retail store stemmed from economic necessity. She sought to supplement her family's income during a period of unemployment, recognizing the convenience store as a viable venture, due to its location and community need. Despite lacking prior retail experience, she relied on her perseverance and resourcefulness. Her decision exemplifies risk-taking driven by necessity, underlined by her willingness to venture into the unknown despite limited knowledge and resources (Yatar, 2009). Business Setup and Operations Lee established her store in her own home, utilizing her familial connections and local labor to minimize costs. Renovations were performed with help from her brother, indicating community support and resourcefulness in overcoming high construction costs typical of Guam in the 1960s. The store's location in a central village area provided good visibility and foot traffic, attracting predominantly local residents and youth customers. Challenges Faced Significant challenges confronted Lee, including lack of retail experience, intense local competition from an established store across the street, limited start-up capital, and operational difficulties such as inventory management and theft prevention. Cash flow issues arose partly from shoplifting and extending credit to youth,

Risk-Taking Against The Odds: The Case Of Lee’s Retail Store ✓ Solved

RISK-TAKING AGAINST THE ODDS: THE CASE OF LEE’S RETAIL STORE

Sample Paper For Above instruction

Introduction and Context

Motivation and Business Initiation

Business Setup and Operations

Challenges Faced

Lessons Learned and Strategic Decisions

Post-Closure and Further Insights

Conclusion and Implications

References