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Entrepreneurship: Development And Growth Of Katie Page Add in library

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Question:

Discuss about the Entrepreneurship for Development and Growth of Katie Page.

 

Answer:

Introduction

This essay presents the History, development, and growth of Katie Page entrepreneur that made her successful. It also discusses the role of family and socio-cultural background in the development of entrepreneurial passion of Katie Page. It also defines the types of business that is developed by Katie page and also defines the competitive advantages of the business as compared to other entrepreneurs. This essay also describes the future suggestion for the Katie Page including different types of business and avenues.

 

History, Development, and Growth of Katie Page

Katie page was born on 1956 in the Australia. She has three sisters. Further, father of Katie Page is bank manager hence her family relocated around every four years. Katie grew up in St George that is located in Rockhampton, and Brisbane. And, she is graduated from Brisbane State High School in 1973. At the time, she has planned to become a surveyor. But, she was discouraged by the low pay obtainable for women (Bruce, 2012). When Katie Page was 19 years, she has participated in the intelligence test in order to increase the funds for children with autism.  

Gerry Harvey, who is a panel of judge, has offered the assistant position to Katie page for his new Harvey Norman store. After that, Page joined the business and deals in ad buying, marketing, and publicity for the company. She has also helped to horses of Harvey group. In 1988, Katie page got married to Harvey.       

Moreover, Harvey Norman was established in 1982 by Harvey and Ian Norman (partner of Harvey). Katie page has joined the first store as an assistant in 1983. But, in 1999, she became CEO of Harvey Norman. In this company, Garry Harvey is executive chairman.  

After becoming the CEO, Katie Page has expanded their business into New Zealand in 1996, Singapore in 2000, Malaysia, Ireland and Slovenia in 2003. Further, she has started online marketing in 2001. In 2014, Katie Page base salary was AUD$2.07 million (Faul, 2016). In 2015, she has the fourth position in the Australian business review’s list. In this review, 50 powerful businesswomen were also listed. She is also a sponsor of a number of professional sports and active supporter of women in sports. In 2015, she operates 277 stores of Harvey Norman in 8 countries. Its revenue was $4.9 billion and a net profit of $165 million in 2015.    

Katie Page is energetic because she is a champion of a number of professional sports. In 2004, she was the first woman who is to be selected on the board of the National Rugby League. In 2005, she initiated the women of National Rugby League. For the 2013 Jeep Magic Millions 2YO Classic, Katie Page has publicized a special prize of $500,000. Because, in this competition, first, four horses has passed the post that was possed by women (Chief Executive Women, 2016). In 2014 and 2015, she has awarded for Racing Women’s incentive bonus. She has also selected for the ambassador of Zara Philips in order to promote the Racing Women. After that, she has announced that her company will sponsor the all female and team of Muslim Australian Football League.   

 

Role of Katie Page’s family and Socio-Cultural Background in the Development of their Entrepreneurial Passion 

Katie Page had a delightful barefoot childhood. She grew up in the small town of St George that was located in the outback of Queensland. She has four youngest sisters, and she was brought up to be independent and well-built. Further, she was inspired by her father who was prototypical New Age man. She educates her sisters that they will never to be restricted by their gender. 

Along with this, father of Katie Page educates them about the bank function. He also ensured Katie Page that she read the business part of the newspaper. Further, it is analyzed that when she was eight, her family moved to Brisbane. In this age, the passion of Katie Page was fuelled for the social equity (Korporaal, 2015). In addition to this, while she studied at the Brisbane State high, then she was represented as "strong, feminist role models".     

In 1970, employment choices for women were inadequate in the Queensland. Although, Katie Page knows that Queensland is male dominated area but, she has applied to become an evaluator. As a result, she has faced challenge such as distinct norms. But, at the age of 17, she moved to Sydney due to her father’s job. In this Australian city, Katie page has found the job in the pharmaceuticals company. In this job, she takes the experience from their liberal Danish boss.  

On the other side, Katie Page has a tough network of her friends and business relationships (Page, 2015). Katie Page and her husband are long time friends with the advertising experts John Singleton.    

They are also close with Chief Rob Ferguson who is earlier bankers trust. She added the Naomi Milgrom, who was working as a teacher in Sydney. They are also a close friend from early 80s.  Naomi Migrom is one of the biggest retailers in this country. Further, Katie page is alias as supermodel Elle Macpherson’s mother because she accomplishes the requirement at the same time (The Australian, 2014). Along with this, Katie page was made the five people’s group including them named Gerry, Naomi, Fran Macpherson, and John Singleton.  These members lead Katie page to grow the business.   

 

Types of Business of Katie Page and the Competitive Advantage of Business Compared to other Entrepreneurs

Harvey Norman is the public company that deals with the franchisor, grants franchises, independent business operators and business owners who retail the different products related to the home and office. It provides different categories of products named Computers & Communications, Electrical, Small Appliances, Home Improvements, Flooring, Bedding & Manchester, Furniture, Lighting, and Carpet.

It commits the quality, value, and service in its retail store and online channel. Harvey Norman is the distinctive company and also operates in the retail and property sector. It also delivers unique products and services such as bedding, electrical, furniture, and computers. It is beneficial to gain competitive advantages as compared to its competitors. Additionally, the internal franchising model is also used by Harvey Norman that helps to gain a competitive advantage in the new marketplace by tapping into local entrepreneurship (Kent, and Leaver, 2014). Katie Page is also passionate to make an effective design for their brands like poliform, and high-end space Furniture Company. It sells high-end Italian designer furniture.   

 

Future Suggestion for the Entrepreneur Including Different Types of Businesses or Avenues  

Katie Page should use the innovative ideas that will help to reduce the company’s debt level. Further, she should buy new resources. Katie Page should also make effective bonding with their stakeholders because it enables them to get a lot of opportunities. She has a lot of businesses but she should try to find the something worthwhile investment (Walton, 2013). It should identify the competitor’s strategy that will assist them to decline the cost and debts and also helps to maximize the profit. The company should not invest in unless activities it will enable them to take long-term advantages.     

 Katie should use the Omni-channel strategy in retail that will aid them to make bright future and also aid them to make the effective position of Harvey Norman successfully. She can also use the multiple distribution strategies in online retailer as well as a physical retailer as it will beneficial to add value to customers. Further, it should sell the product and services through online transactions like smart TVs, smartphone, and computer. She can increase the talented staff member in order to deliver the services. She should also use advanced technology within the retail store in order to prompt delivery of products and services.     

Along with this, Garry and Katie should work hard within the company as it will be effective to increase in net assets. She can also plan to expand the Harvey Norman retail business in another country such as Malaysia. She should also address the strategic growth opportunities because t will be effective to increase their market share (Schwerdt, 2015). She can also open more retail stores in other countries such as Slovenia and another neighboring country of Europe.          

Conclusion

It is concluded that Katie page operates 277 stores of Harvey Norman in 8 countries. Further, it is stated that its revenue was $4.9 billion and a net profit of $165 million in 2015. It is also summarized that father and friends of Katie Page supported to the development of her entrepreneurial passion. It is also concluded that Katie page operates in different types of business and also deliver unique product and services to customers that help to gain competitive advantages of the business. Further, it is recommended that Katie Page should open more retail stores in other countries like Slovenia and another neighboring country of Europe.

 

References

Bruce, M. (2012) Katie Page. [Online]. Available at: https://www.couriermail.com.au/lifestyle/katie-page/story-fn7tqah0-1226239916628 (Accessed: 30 November 2016). 

Chief Executive Women (2016) Katie Page. [Online]. Available at: https://cew.org.au/members/katie-page/ (Accessed: 30 November 2016).

Faul, J. (2016) Harvey Norman is under pressure as consumers increasingly move to online retailers. [Online]. Available at: https://analysisreport.morningstar.com/stock/research/c-report?&t=XASX:HVN&region=aus&culture=en-CA&productcode=CAN&cur= (Accessed: 30 November 2016).

https://www.theaustralian.com.au/business/the-deal-magazine/50-most-powerful-women-in-business-4-katie-page/news-story/286278802b1e16c3b2a71a0b260513d1 (Accessed: 30 November 2016).

Kent, M., and Leaver, T. (2014) An Education in Facebook?: Higher Education and the World's Largest Social Network. UK: Routledge.

Korporaal, G. (2015) 50 most powerful women in business: 4. Katie Page. [Online]. Available at:

Page, K. (2015) It’s time for the networks to give women’s sport a fair go. [Online]. Available at: https://www.dailytelegraph.com.au/rendezview/its-time-for-the-networks-to-give-womens-sport-a-fair-go/news-story/bac4e992220485b82e3a598f8dc7f7ac (Accessed: 30 November 2016).

Schwerdt, B. (2015) Secrets of Online Entrepreneurs: How Australia's Online Mavericks, Innovators, and Disruptors Built Their Businesses... And How You Can Too. USA: John Wiley & Sons.

The Australian (2014) Total success: For business and pleasure, all the Harveys need is love. [Online]. Available at: https://www.theaustralian.com.au/life/total-success-for-business-and-pleasure-all-the-harveys-need-is-love/story-e6frg9zo-1226841082718 (Accessed: 30 November 2016). 

Walton, W. (2013) Marriage and Revolution: Monsieur and Madame Roland SIÂN REYNOLDS. Women's History Review, 22(6), pp. 1038-1040. 

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