Analyze and describe the founding leaders, leadership style, and major business principles of a profit-oriented entrepreneurial approach in which the primary goal is to provide a product or service to consumers and to make a profit.
Entrepreneurs Hussein Fazal and Kristaps Ronka harnessed the power of advertising on Facebook as they were listed as one of 2011's top entrepreneurs. Their efforts toward entering this new idea began in 2007 when they started experimenting with Facebook applications and game software (Inc, 21011, Par. 1). Some of their earlier developments were treasure hunting applications and documentation sharing. ...view middle of the document...
Forming a nonprofit organization can be especially difficult because its objectives are focused on the organization's mission while relying on outside funding. One entrepreneur who has accomplished this is Gianna Driver, who founded the company Gianna Fair Trade (Inc, 2011, Par. 1). Gianna's mission is to give back to impoverished women through a trading manufacturing business. She had the opportunity to make profit and experience creativity through hand-made goods, but also give back to those hands who constructed those goods. "Driver has arrangements with 60 women from impoverished villages or urban slums in Laos, Thailand, India, and the Philippines" (Inc, Par. 3). Her website offers these items for sale globally and when a customer purchases it, a percentage of the price goes back to the woman who made the item.
Gianna's idea has become a success and not only does it make her life more fulfilling as a business owner, but it also allows her to make a living. This can be a difficult feat to accomplish in a social-responsibility oriented entrepreneurial approach because it requires a strong focus on several objectives. These objectives include fulfilling that humane or environmental oriented objective while still making a profit. Gianna's leadership style depended on clear authoritarian leadership because she makes all of the decagons and she is the sole owner of the company. This means that she keeps divides responsibilities out among the impoverished women.
Determine the approach and leadership style with which you most identify and explain your reasons for your choice.
The approach and leadership style in which I most identify with would have to be Hussein Fazal and Kristaps Ronka's approach because it provides room for input and say from other members within the company. Although Fazal and Ronka only needed to answer for themselves, I believe this is one of the most effective ways to maintain high company morale. This is especially the case for larger companies which employ several employees and managers. When company personnel feel that their input is important during the decision making process, they are motivated to contribute to the company's development and growth.
I also identified most with their strategic and innovative approach because they had such an extensive background in software and networking. This means that I can also identify most with the profit-oriented entrepreneurial approach because it is a simpler and more direct approach. For-profit companies focus on the bottom line through financial objectives and strategies which allow the company to grow. While doing so, the...