Entrepreneurship and social enterprise Essay Example | Topics and Well Written Essays - 1750 words

Entrepreneurship and social enterprise - Essay ExampleThis government activity was founded by two youth college graduates named Matthew Slotover, a psychology graduate and Amanda Sharp, a PPE Graduate. They were assisted by Tom Gidley, an device college student. Mathew Slotover after complete his graduation from Oxford University has decided to work for him. He started to visit art gallery with his friend, which sparked the passion for present-day(a) art. This do him to combine his passion for arts combine with his dream to become boss. A promotion in the shielder newspaper worked as catalyst where the works of few unknown artists with prices as well as strain details were shown. This made Matthew to think of creating a hybrid catalogue or magazine in which the artists bunghole produce their works along with prices. This will make them reach to a wide range of consumers at a time and was expected to revolutionize the ways in which contemporary art domain worked. In June 199 1, the number 1 edition of Frieze magazine was published. Frieze has grown as a significant company that had 44 employees and a turnover of 5 million, by focusing on art galleries as their major customers and applying their skills and expertise in desk-top publishing. Today, Frieze is operating as the most popular art magazine of Europe and is also gaining a square position in United States. The Frieze Art Fair that was launched in London in 2003 was one of the top-tier art fairs that gained global recognition. The present case study has given the opportunity to analyze the situation in which the organization is going through and suggest the best possible option in which they can gain higher(prenominal) profitability. In this regards the paper will be focusing on the reasons that brought huge success for Frieze, their current set up according to the organizational life cycle and the best suitable strategy that they need to follow. Reasons for success At the launch of the magazin e in 1991 Mathew started to work on the magazine so that it can be a grand success. Carl was a gallery owner and a major player in the booming contemporary art world of London. He turned down the idea saying that the artists will not care to use magazines for displaying their work and they are used to with the galleries for displaying their works. Stuart Morgan was an eminent critic in the leading magazines of UK, emphasized on the fact that credibility of the magazine will be lost if they even one thing to sale. This feedback given by these eminent people was taken seriously by Mathew and was one of the major reasons for the success of their first magazine. Matthew decided to change the vision of the magazine by removing the sale side from the magazine and keeping the chromatography column content and keep the talk about arts. Matthew was joined by other two members and the total aggroup of three started on work on the new issue. They decided on the name and rented a blank shel l from where they can operate. Recession started impacting the economy of UK, which acted as a blessing in disguise for Frieze. The art world became less busy and the Frieze team was able to contact many of the eminent persons who were willing to offer their advice and time, which were really important for Frieze. Stuart Morgans help was also a big contribution towards the success of the business. Apart from this, contribution of all the team members who has devoted all their efforts and ideas towards