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Key factors influencing entrepreneurship
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Entrepreneurs have long been acknowledged by the business, they are the ones who “organize and manage any enterprise, especially a business, usually with considerable initiative and risk” (Nelson, 2012). There are so many factors that make a successful entrepreneur. This essay will talk about Sawato Hitaru, the fourth president of Nintendo- one of the world’s most valued brands (Giantbomb.com, 2014) and analyze the aspects that brought him to success and well as the causes that might have limit him from making more profits for the company. This essay will also describe Sawato’s situation in the business and whether he is capable of putting forward the company’s success in a long term future.
While still studying computer science at the Tokyo Institute of Technology, Satoru Iwata has already been working as a part time at HAL Laboratory which is a secondary development group of Nintendo (Giantbomb.com, 2014). When Satoru Iwata graduated in 1983, he started his full time position as the manager of software production at HAL laboratory. In 2000, Iwata got promoted and moved to Nintendo’s head offices as the chief of the commercial development division. And in 2002, when the old president of Nintendo, Hiroshi Yamauchi retired, he decided to choose Satoru Iwata as the successor and the fourth president of Nintendo (Gifford, 2013).
Nintendo is a large enterprise that has been running in the family business in Japan for over a century (Spors, 2014). Usually an enterprise run in the family business will tend to choose a family member or marriage member to be the successor because keeping business in the family can often revenue more capital for the next generations than other investments acquired from the transaction of the business (W...
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...intendo and Nintendo is still actually making profits from selling 3DS handhelds in the market (Byford,2013). So what Satoru Iwata should do in order to keep up the business is to focus on the sales of 3DS handhelds as well as one type of target market to develop the product that would be suitable for them.
In conclusion, Satoru Iwata has the characteristics of a successful entrepreneur. He has his knowledge of the products, his skills and creativity as well as big vision, he is also a risk taker which plays an important part in the success of the business. However he also has the ego of an entrepreneur of being too optimistic in an unrealistic way that costed him the biggest failure in the sales of the company. However, with his skills and vision, he could still keep the business going as well as bring the success to the business again in the future.
In 2014, JB Hi-Fi announced the retirement of their CEO Terry Smart. He had been with the company for more than 14 years. In an interview with Smart Company, Smart explained the process for hiring his successor. Smart (2014) stated that succession planning is not something that can be done overnight, it’s a long-term process and it’s part of the board’s role. When JB Hi-Fi promoted Richard Murray to CEO it was because of his extensive experience, knowledge, skills and contribution to the organisation over 11 years (Keating 2014). This example of JB Hi-Fi’s succession planning not only demonstrates their diligence in following their charter but also the emphasis placed on laying the right
Leadership is a quality which cannot be acquired by any person from the other but it can be acquired by self-determination of a person. Leadership can best be called the personality of the very highest ability-whether in ruling, thinking, imagining, innovation, warring, or religious influencing. Leadership is practiced not so much in words a it is in attitude and in actions. Their actions leave a long lasting memory in the line of history and lead up to may events that occur today. To be a leader one will need many qualities. Leaders have a purpose and strategies to accomplish that purpose. They are driven and motivated. In the end they should be able to attain good results. These innate talents help to make up a leader that will succeed and be efficient in carrying out tasks. But, the purpose of this paper is determine what truly makes a leader successful. A successful leader should be considered more on their impact rather than their accomplishments of their organizations alone for they are not sufficient in determining the key to their success .
In the console-gaming world people know Sony and Nintendo. Microsoft may be the largest and richest software company in the world, but it’s unknown when it comes to console gaming. Microsoft is counting on the Xbox to change that perception. Gamers may not be willing to take a chance with the Microsoft Xbox, even if it is far superior to any console ever made. Nintendo Gamecube is nothing if charismatic. Nintendo’s new machine is half the size of any other console and looks like a toy with its brightly colored plastic shell and handle. It’s destined to be home of such popular games as Mario, Donkey Kong, Pikachu, and Kirby. Nintendo Gamecube seems mismatched as it goes up against the Microsoft Xbox and the Sony Playstation 2 (a multimedia mayhem that Sony says it’s supposed to be “The Future Of Entertainment”). All this makes you think; what makes Nintendo believe it can possibly go up against the ultra-sophisticated Xbox.
...reate the world’s best gaming console. Although that’s a lot to ask for, I know I’m not the only person in the work that wishes this, but there is still hope that one-day it will happen. And to think that none of this could have been possible if it wasn’t for Ralph Baer, Goldman, and their coworkers.
...ring the software and hardware teams work together right from the stages of inception. This nascent collaboration between hardware and software teams allows for the early development and release of first party titles giving them an advantage of obtaining a jump start into the market and also lowering costs in contrast to other third party titles. A fourth strategy that could be adopted is to develop unconventional games that cater to a non-existent audience. Competitors should explore video game console applications to uncharted markets and industries. A final strategy could be to correlate sales of video games with hardware consoles as this has previously proved to be highly beneficial to Nintendo’s Wii.
The first type is the primary activities and costs that is contains of five different activities. Nintendo had only one manufacturer in the past which was “Taiwan based Foxconn precision Components”. This company was responsible to manufacture the components of Wii; the last new video game of Nintendo. But after the firm noticed that the demand on its new video game continue to increase, the management of Nintendo decided to diversify its suppliers that manufacture their video games’ components such as; the chips, and for assembling the Wii system. This was related to the supply chain management.
The first is that the video game consol industry is an oligopoly and has to deal with the game theory. It is an oligopoly because it has high barriers to entry such as hardware subsidies and very fierce competition amongst already established firms (Scevek, 2001) Also there are only three major producers of video game consoles: Sony, Nintendo, and the recently Microsoft. Because these three all have personal interests the game theory applies quickly. The most recent example is the releases of the Playstaion 2 by Sony, the Nintendo GameCube, and Microsoft’s X-box. Early in the year of 2001 Sony released its latest Playstation 2 and its profits surged. They had increased 3.1% to 24.8 billion Yen, and 22.t million units sent world wide in the first fiscal year (IGN, 2002). Microsoft and Nintendo however had a different story. They decided to hold off sending of their product until the holiday season of 2001, a well-known purchasing time for consumers. However this induced competition for personal interests and both ended up worse off. While the Xbox had sold 1.4 million units, and Gamecube 1.3 million, Sony had 1.4 million units sold in its fourth quarter (Weintraub, 2002). That 1.4 million was in addition to the millions sold before hand. This unwise release is catching up with Microsoft as the profits for the X-box had halved to 190 million in 2003 compared to the loss of 60 million the year before (Yabedo, 2003), and it may soon be forced to leave the gaming industry. As it stands now the current owning of systems in households is 75% own a Playstation 2, 12% own a X-box, and13% own a Gamecube (yabedo, 2003). While the figures may be small Nintendo is building up slow but steady steam with its big name titles, and domination of the hand-held industry. Its recent release the Gameboy Advance has caused a make up for the loss by GameCube. It had so...
To meet and respond to its customers needs, IBM creates, develops and manufactures many of the worlds most advanced technologies, ranging from computer systems and software to networking systems, storage devices and microelectronics. Indeed, IBM has various product lines and services a few of which are: the Personal Computer that was first created in 1981, AS/400 business system, RS/6000 family of workstations and server systems, S/390 enterprise server, groundbreaking ThinkPad notebook computer; the award-winning IBM Netfinity and finally, PC Servers. It is an important supplier of hard disks, random access memories, and liquid crystal monitors.
Nintendo, which is one of the largest video game companies, follows several steps and goes through different stages to create a value for its customers. To produce a video game controller, Nintendo outsourced the key components, which are needed for the production such as controller chips, from a number of different manufacturers. Nintendo formed partnerships with those manufacturers to supply them with the required components. The process of outsourcing the components from different manufacturers is considered as a good practice and cost effective because it reduces the production costs that Nintendo might have if they produced the components by themselves. As it is mentioned in the case, “Nintendo is not a technology company – it is a toy company” so, by outsourcing Nintendo als...
To be a successful entrepreneur, there are steps that one must follow when starting a new enterprise. These steps are termed as the process of entrepreneurial which is the systematic method of preparation of an enterprise that consists of four steps. The four steps are fundamental to the success of an entrepreneur venture. The four entrepreneurial processes includes discovering, assessing and opportunity, developing a business plan, establishing resource needs, and managing the resulting enterprise (Barringer & Ireland, 2010). Each individual step is vital for the start of an entrepreneur venture and for an entrepreneur to achieve their entrepreneurial goals. This paper will discuss the four steps of the entrepreneurial process,
The case study highlighted that the new game Wii introduced by the company had the ability to attract individuals considered non-gamers or casual gamers. The Wii was not as powerful or technologically advanced as the Xbox 360 and the PS3, but its success lies in its ability to provide a new means of playing video games. The innovative design of the Wii’s controller, which had built in motion sensors, created a whole new gaming experience for users - on...
In the documentary “Call of the Entrepreneur,” three successful entrepreneurs, Brad Morgan, Frank Hanna, and Jimmy Lai, are presented to explain their views on entrepreneurship and in turn leadership. Brad Morgan is the owner of a million dollar dairy and compost company, Frank Hanna is a merchant banker in New York City, and Jimmy Lai is the founder of Giordano department stores and Next Media. A central theme of the documentary is how each of these businessmen displays the characteristics of persistence, patience, and perseverance to overcome frustrating obstacles and become successful. The film defines entrepreneurship and explains how the entrepreneur responds positively to consumer demands and is able to organize and direct others toward a goal only the entrepreneur can see. The film shows that though some entrepreneurs are driven by greed and some are not, the ones that are successful are answering the needs of consumers.
Nonetheless, those who are not direct members of the family can also handle a family business. Family members are frequently taking active involvement in the business operations, and members of the family tend to take up top positions within the organization, but this is dependent on the succession strategy within the business. Some family businesses turn into public companies in order t...
Some of it depicts business visionaries as verging on legendary characters who acquire their abilities from an exceptional hereditary mix. In any case, examination lets us know that entrepreneurship can be learned. The information in this article gives a few attributes and aptitudes you