DQ1: (Read Chapter 7 - Ethical and Legal foundations) -
Read the article on Sarah Travers bead business in your secondary reading for Module 3. In this article it mentions that this 17 years old girl runs her business as a sole proprietorship. Would you recommend that she should ever change her form of business? Why? Why not?
DQ2:
Justin works as a sales associate for a well known Fortune 100 research company. Aware that he has a good rolodex and credibility among the client accounts he services, a smaller research company tries to hire him. What can the Fortune 100 company do to ensure that Justin does not walk out with client accounts?
Article on Sarah -TraversFrom Post Dispatch:
A teenager from Creve Coeur who didn't have enough money to buy a beaded eyeglass chain is earning money from her jewelry-making business to help with college tuition.
Sarah Travers, 17, has also received a Girls Going Places scholarship worth $1,000 from Guardian Life Insurance Co. of New York. She was one of 15 recipients out of 2,000 people who applied nationwide.
Travers was selected for her entrepreneurism. "Sarah is an extraordinary young woman who has taken steps toward financial independence and has already had an impact on her community," said Emily Viner, a Guardian executive.
Travers registered Sarah.Bead as a sole proprietorship a year ago, and she had about $5,000 in sales for her first year. The business pays for itself and enables Travers to put a bit aside for college. Travers, a senior at Visitation Academy, hasn't decided where she wants to attend college.
At age 11, she started making jewelry. Her first piece was a chain for eyeglasses. She saw a chain that she liked in a store but couldn't afford to buy it, said Ann Travers, her mother. So she decided to make one.
Travers made a chain for her mother's glasses. Soon after, her mom's friends started asking where they could buy items like it. This put Sarah in business.
"I love doing it. It's a lot of fun," she said.
Most of her pieces are weighty necklaces and bracelets or dainty earrings with Austrian crystals and Bali silver beads. Her favorite pieces are made of freshwater pearl or turquoise. She makes rosaries, too, and she'll create custom jewelry.
Her prices range from $10 for a pair of earrings to $150 for a necklace. She charges $250 for a necklace, bracelet and earring set.
Until about a year ago, Travers sold her jewelry wholesale to boutiques around town, such as Viva Gifts & Home Furnishing in Brentwood and Jean Phillipe hair salon in Frontenac. But when she saw the 100 percent markup on her products, she decided to sell directly to consumers.