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Case Study

1. Professor Jane Jackson interviewed three entrepreneurs - Phil Hartack, Robin Wood, and Richard Trumpe - who applied for a loan from banker Paul Medwick. 2. Based on the interview results, Phil Hartack displayed the greatest entrepreneurial attitudes and mindset, while Robin Wood displayed the least. 3. Richard Trumpe's loan application is most likely to be accepted because he has the highest drive to achieve, creativity and innovativeness, and tolerance for failure. His proposed business of oil change shops is also practical and in high demand. 4. Therefore, based on Jane Jackson's analysis, Paul Medwick will likely choose Richard Trumpe's loan application.

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522 views3 pages

Case Study

1. Professor Jane Jackson interviewed three entrepreneurs - Phil Hartack, Robin Wood, and Richard Trumpe - who applied for a loan from banker Paul Medwick. 2. Based on the interview results, Phil Hartack displayed the greatest entrepreneurial attitudes and mindset, while Robin Wood displayed the least. 3. Richard Trumpe's loan application is most likely to be accepted because he has the highest drive to achieve, creativity and innovativeness, and tolerance for failure. His proposed business of oil change shops is also practical and in high demand. 4. Therefore, based on Jane Jackson's analysis, Paul Medwick will likely choose Richard Trumpe's loan application.

Uploaded by

Ana Luisa
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Name: Princess Mae O.

Verra Rating:
Course & Year: DVM-II

Case Study: Jane’s Evaluation


INTRODUCTION
Commercial banks provide services such as savings, life insurances,
loans, etc. to consumers in the economic field. Costumers trust commercial
banks with their money instead of keeping it to themselves that’s why they
deposit and get debit accounts. Banks also allow customers to borrow money
or loan. Loans are partnered with interest wherein this way a bank gain profit
or income. Commercial banks offer costumers convenience because of other
services such as online banking, change foreign currency, administer and
guide costumers will and testaments, etc.
Paul Medwick, a commercial banker, received loan application from
three entrepreneurs in the past month. The three entrepreneurs have
emerging businesses with strong potential. Paul will only accept one loan acts
application that is why he also wants to consider the three entrepreneur’s
attitude and personality. He then assigned Professor Jane Jackson, banks
outside consultant, to interview the three candidates. After the interview, Jane
came up with five problem statements:
1. Who possess great entrepreneurial attitudes and mindset?
2. Who possess least entrepreneurial attitudes and mindset?
3. To whom loan application will be accepted? Why?
4. The three entrepreneurs have flaws; in what area (attitudes) should
they make improvement?
5. Who will most likely to maintain a successful business after 5
years?
First, during interview conduct self-assessment and eligibility. Get to
know your applicant’s basic information such as name, address, family
background. Provide real life situations on how they will handle or deal with it.
Second, financial inspection and house hunting. Identify what type of business
he has. Check his documents if its legal or not, and tax forms if he regularly
pays tax. Third, after interview, conduct review and reflect. Review whether
the candidate has meet the standards the bank has. Reflect if the candidate
would be able to pay the loan during the given time. Fourth, analysis and
conceptualization. Submit a proposal to the bank owner. Consider different
point of views before making a decision. Fifth, inform applicants whether they
have been chosen or not. Meet the chosen applicant together with the bank
owner. Then, present terms and conditions of the loan and to the applicant
such needed documents and collateral should be passed. Lastly, approval will
be given by the bank owner. The bank will lend money to the applicant. In the
coming months and years, the applicant has now the responsibility to pay the
loan with interest.
Based on the gathered data regarding among the three entrepreneurs,
Phil Hartack has the greatest entrepreneurial attitudes and mindset because
he has high persistent in problem solving, high tolerance in ambiguity and
high integrity and reliability. Suppose Phil encounters a problem in his
business high chances are, he will be able to handle it well and make solution
right away without any hesitations. On the other hand, Robin Wood
possessed least because he has low tolerance for ambiguity, medium
creativity and innovativeness, medium initiative and persistent problem
solving and medium drive to achieve. Robin, will have a hard time dealing with
unexpected situation and he may be left behind in the business world
because he isn’t creative enough.
Richard Trumpe’s application form might be accepted because he is
highest in drive to achieve high tolerance for failure and highest
innovativeness and creativeness. When you’re running a business with
people’s demand, creating innovative and new products is needed. High
tolerance of failure means, Trumpe will not give up easily. He will surely be
goal driven in accomplishing his vision. Paul Medwick can trust him with the
money. People have flaws and regarding with Robin Wood, he should
improve his tolerance for ambiguity and persistent in problem solving.
Meanwhile, Richard Trumpe must improve his integrity and reliability and
persistent in problem solving. Finally, Phill Hartack have to improve his drive
to achieve ability and creativity and innovativeness. Upon checking the
demands in everyday life, Richard Trumpe will likely to maintain his business
after 5 years because of his creativeness and regarding to his business, the
ten-minute-oil-change-and lube operation is highly practical in keeping up with
other business. There are lots of transportation nowadays that is why his
business is more needed than the other two businesses.
Therefore, based on the gathered data of Professor Jane Jackson and
her analysis, Paul will or likely to choose the application form of Richard
Trumpe because of his great interactionism. And as the owner of the bank,
Paul must think what business can have more income to pay back the money
that the applicant borrowed.
RECOMMENDATION
The situation that was given is quiet challenging to conclude without
enough information. Checking documents of the businesses of the applicants
is not enough figures to trust and to release the money that was requested. In
this case, attitude and abilities is more important, and attitude is very
subjective. Giving real life situations are significant to trace and reflect who
could Paul Medwick actually trust his money without any failure of paying him
back.
As Jane Jackson’s evaluates her records, she could endorse someone
that is risk taker, creative, innovative and has high tolerance for failure, and in
terms with the business, it is practical to choose industry that is not seasonal
or it is in the checklist of everyone, and with the three applicants, Richard
Trumpe has the highest possibility to be accepted.

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