Qualities of an Entrepreneurial Firm

611 Words2 Pages
bulb-icon

Recommended: Relationship between entrepreneurship and innovation

Innovativeness:
Every entrepreneur, and their firm must stand out from the rest in order to be successful. Many ideas are shared amongst entrepreneurs, but the successful ones find their own comparative advantage. The changing of a specific part, there by improving the product or, in this case, the business is innovativeness. The four individually were good magicians, J. Daniel Atlas as an illusionist, Henley Reeves an escapist, Merritt McKinley a mentalist, and Jack Wilder also an illusionist. Dylan Rhodes had an idea and a goal, but to implement it he had to rethink the "typical" magic show. So what does the audience want? The answer he found was to see amazed in no way ever before seen, this is accomplished by playing "robin hood" to get the support of the crowd, while planning a greater scheme. By changing the typical magic show, to giving people money they had a great fan base which allowed for their venues to be packed, hence allowing their true plans to succeed.
Pro-activeness:
An entrepreneurial firm must plan ahead, and predict issues that may arise. Have a plan for what to ...

Show More
Related

  • Outliers: The American Dream

    1146 Words  | 3 Pages

    Out of the three examples he wrote about, one’s motto was to ‘eliminate excuses’. In 1980, John Paul DeJoria (who was then living in his car) and Paul Mitchell (a hairdresser) started their company, John Paul Mitchell Systems, of selling shampoos and conditioners. Their starting capital was only $700. It was a rather unpromising time to start a business, with inflation at 12.5 percent and interest rates at 18 percent. Previous to the start of the company, DeJoria grew up poor in the Los Angeles area. He did not have the money to attend college, so he took numerous sales jobs, including a succession of positions at hair-care firms. In fact, he got himself fired from most of them. This had a profound effect on him as he told Charles Payne on his radio show. “When people fire you for not being their kind of manager, it makes you want to be your own manager,” DeJoria said. DeJoria later teamed up with Paul Mitchell. Unfortunately, a European investor pulled out of their business before they were able to launch. This left Dejoria and Mitchell with practically nothing. So before the first bills were due, DeJoria packed his new hair product in his trunk and found his own buyers going door to door. Perseverance pays off, as DeJoria and Mitchell’s privately held company makes 90 hair-care products that are sold in 100,000 salons nationally and in 80 countries today. DeJoria’s advice to

    Read More

  • Arthur Miller's Death of a Salesman and Sophocles' Oedipus the King

    1759 Words  | 4 Pages

    ...eving success, rather than dreaming up stories to tell. However, Willy never achieves success because of the simple fact that he cho

    Read More

  • Entertainment In The Gilded Age

    1483 Words  | 3 Pages

    One of the most popular forms of entertainment during the Gilded Age was theater, particularly Vaudeville, which was a type of variety theater prominent in late 19th century America. Of course, similar types of variety shows had existed much earlier, before the 1830's, but they experienced a growth thanks to Benjamin Franklin Keith, "the father" of American Vaudeville. He spent his earlier years working in traveling shows and circuses, before establishing his own museum of oddities in 1883. His success allowed him to finance the building of his own theater, and he became the subject of his own "rags to riches" story, one of many that were so common in the Gilded Age. Keith was a savvy businessman who knew...

    Read More

  • Death of a Salesman

    2921 Words  | 6 Pages

    Miller uses it to allow the audience to see into Willy. It is only through these revivals of the past, which the audience can understand. Willy’s thoughts on the present. Arthur Miller attempts to create “realist theater” using new, non-classical techniques. Throughout the play, the audience is confronted with a series of aspects that lead them to believe in the on-stage drama.

    Read More

  • Analysis Of Summer Breeze Lemonade

    723 Words  | 2 Pages

    strategy and selling worldwide will avail in the company’s prosperity. Each category is paramount if the business wants to be around in the future. Every business has a potential of great rewards and peril. By working on a business plan, including all of these five factors will lower the jeopardy of failing. These factors will keep a business for a long time even for a small business like a lemonade stand.

    Read More

  • Export Based Business Strategy

    1061 Words  | 3 Pages

    ...he market and lack of an all-round business plan covering all aspects. For the company’s discussed it will be very easy to achieve the goals and be one of the successful company’s in the country and global wise.

    Read More

  • Should IDEO Accept the Visor Project?

    1138 Words  | 3 Pages

    Kelley,T. (2005, Oct.). The 10 faces of innovation. Fast Company, 74-77. Retrieved 6th March’ 2014 from http://web.ebscohost.com/ehost/detail?vid=9&sid=1d6a17b7-c5f7-4f00-bea4 db1d84cbef55%40sessionmgr10&hid=28&bdata=JnNpdGU9ZWhvc3QtbGl2ZSZzY29wZT1zaXRl#db=bth&AN=18386009

    Read More

  • Critical Reflection In Business

    1708 Words  | 4 Pages

    This critical reflection seeks to provide an in-depth analysis of how the entrepreneurial tools taught throughout this semester has assisted me in developing insightful information towards my contributions of the business plan. The process allowed me to identify, clarify and test the credibility of my personal insights. Entrepreneurial tools being assessed are customer experience mapping, questioning and idea networking. The paper started off with a detailed introduction of the actual product that my group have finalised on, then followed by comprehensive evaluations of the tools. Lastly, it ends off with a reflective conclusion with valuable learning points. All in all, it improved the quality of my contribution towards the project.

    Read More

  • Reflection On Creativity And Innovation

    1581 Words  | 4 Pages

    Over the course of this class I have learned how important it is to be creative and innovative in the way that businesses are conducted within the organizations. The ability to innovate is the “secret sauce” of business success (Dyer, et al., 2009). However, creativity and innovation cannot take place if the leaders are not willing to foster a culture of innovation within the organization. Amabile & Khaire (2008) asserted that, it is essential to motivate people to contribute ideas by making it safe to fail. Stress that the goal is to experiment constantly, fail early and often—and learn as much as possible in the process. Convince people that they won’t be punished or humiliated if they speak up or make mistakes (Amabile & Khaire, 2008).

    Read More

  • Reflection Paper On Entrepreneurial Thinking

    2041 Words  | 5 Pages

    List and discuss the 4 most important lessons that you have learned about entrepreneurial thinking this semester in this class. Describe why you find these lessons important and how this knowledge has impacted you. Use specific examples from our class – readings, videos, discussions, activities, etc. Don’t forget to elaborate on your thoughts as you fully discuss your ideas and opinions. (Long answer – multiple paragraphs

    Read More

  • Corporate Entrepreneurship

    1273 Words  | 3 Pages

    Strategic renewal is another desired outcome of corporate entrepreneurship. The new economic order and business environment has created a pace of change which requires businesses to adapt more frequently and rapidly than ever before. The changes could involve corporate structure, mergers and acquisitions, addressing new market opportunities, changing product portfolios, repositioning, adapting infrastructure, or adopting new technology. Managers in an organization must be able to take stock of its situation under changing market conditions and agree on a coherent new strategy that will meet the challenges of the present as well as of the future.

    Read More

  • Business Model Innovation Essay

    866 Words  | 2 Pages

    Giesen et al. (2007) «Three ways to successfully innovate your business model», Strategy and Leadership, vol. 35, pp. 27 33.

    Read More

  • Characteristics of Successful Entrepreneurs

    1006 Words  | 3 Pages

    Successful entrepreneurs have a clear image of what they want their future to be like. They hold a clear picture of the direction the company should take and have a clear plan of how they will make their vision a reality (9 essential traits of successful entrepreneurs, 2013)

    Read More

  • Aol Vs Time Warner Merger Essay

    2391 Words  | 5 Pages

    ...not just the financial issues for example equity shares, turnover and profitability. Before any growth entrepreneur need to have a plan to ensure that they know the risk and what problems will be appear and the solution to solve the problem. Although a growth plan is times consuming to be preparing but other company would like to look at the plan before doing anything. Also entrepreneurs always need to beware of the company vision is it similar to each other, culture and the communication also will affect the result and should be considered carefully. Those are the main reasons to make company businesses successful or failures in few years. Furthermore, this method cannot predict one thing is the timing, sometimes entrepreneurs miss the right time to growth their company because of the physical problem like earthquake or hurricane occurs which no one can predict it.

    Read More

  • Business Plan for Beauty Products Company

    3000 Words  | 6 Pages

    The business plan will also be useful in facilitating the adoption of a strategy that will help the business prosper in the modern market. The plan will be a critical tool that will help in the production of a reliable strategy for attaining the goals and objectives. The proposed business plan will be implemented in three years time. Within the first three years, the business i...

    Read More

More about Qualities of an Entrepreneurial Firm

Open Document