The case describes the dramatic growth of Beyond the Rack, a Canadian online retailer that was started
Question:
The case describes the dramatic growth of Beyond the Rack, a Canadian online retailer that was started in 2009, but by 2015 had 13 million members. The company sells designer clothes for up to 80 percent off the normal retail price. The case provides details of how the internet has facilitated this business, as well as the steps the entrepreneurs have taken to secure the large amount of funding needed to make their business a success.
1. Entrepreneurs are vital for the success of a free-market economy. Highlight the entrepreneurial process and describe some of the key entrepreneurial characteristics as they relate to this case.
2. Describe some of the major challenges that the entrepreneurs behind Beyond the Rack face.
3. What does this case reveal about the importance of financing a successful growth oriented start-up business?
Step by Step Answer:
Business Essentials
ISBN: 978-0134000091
8th Canadian Edition
Authors: Ronald J. Ebert, Ricky W. Griffin, Frederick A. Starke, George Dracopoulos