Entrepreneurial Leadership Essay

1175 words - 5 pages

Entrepreneurial Leadership

Five Guys is a large fast-food chain restaurant that stands out among the rest. They have different philosophies that set them apart from other fast-food companies. Many of the values that Five Guys started with have made them succeeded and are still a huge factor in their success today. After being around for seventeen years, Five Guys decided to start franchising the company, which lead to a large success in such a short amount of time. We will also discuss the ethical and social practices that Five Guys have that are a part of their company.
Five Guys have a few different philosophies that set them apart from other fast-food chains. The first is that ...view middle of the document...

” At Five Guys, “They soak the fries in water so when the fries are pre fried; the water boils, forcing steam out of the fry. This forms a seal so that when they get fried a second time, the fries don’t absorb any oil, and so are never greasy (Welch).” These fires are cut every morning fresh. They also focus on all of their franchises to be so clean that you can eat off the floor. These values are still strong today and help with their success in the fast-food business.
For seventeen years Five Guys was a family owned and operated company, until 2003 when Jerry and Jane Murrell and their sons decided to offer the company as a franchise (Five Guys). There are now one-thousand and thirty nine stores open between the United States and Canada and about fifteen thousand more ready to build (Burke). One of the main reasons that they are so successful is because of the quality of their burger. Around the United States and Canada, you will get the made to order to what the customer wants, buns always toasted on a grill, eighty percent lean beef that is never frozen (Welch). You will always get the same amount of condiments no matter what the issue is, for example in the article on “Inc.Com” the price of a case of tomatoes went up because a hurricane wiped out the crops in Florida, and the franchisee did not want to buy at the price of the tomatoes, so instead of not using any tomatoes they stuck to the two slices because that’s how it should always be no matter what (Welch). Another way that made Five Guys so successfully in such a short amount of time is making the company into a franchise. When they first started they only accepted people that had the amount of money upfront to invest because they knew banks would not help (Welch). This also allowed the franchisee and the corporation to make a profit right away instead of having to pay a loan back. The third reason that they were able to succeed is because they kept the business simple. They only decorate the decor with red and white stripes. They also do not add anything else to the menu other than burgers and fries. They do not want to decrease the quality of their food by adding additional items to the menu, and they also want to be able to only serve fresh ingredients. For years people have asked them to add...

Other Papers Like Entrepreneurial Leadership

Entrepreneurial Leadership Essay

1545 words - 7 pages Entrepreneurial Leadership 1 Discuss the common elements described in the theories/philosophies of Case, Kouzes, and Drucker including how their principles strategies relate to the new definition of entrepreneurial leadership presented in Understanding Entrepreneurial Leadership in today’s Dynamic Markets. What is an Entrepreneur? We find entrepreneurs in manufacturing, business, agriculture, health care, tourism, education, government

: Entrepreneurial Leadership Essay

979 words - 4 pages 1. Discuss the common elements described in the theories/philosophies of Case, Kouzes, and Drucker including how their principles/strategies relate to the new definition of entrepreneurial leadership presented in Understanding Entrepreneurial Leadership in today’s Dynamic Markets. Upon reading the articles and listening to the podcast, it appeared to me that Steve Case, Kouzes and Drucker all have a different philosophy and strategy approach

“Entrepreneurial Leadership”

1150 words - 5 pages “Entrepreneurial Leadership” Discussion 1 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. Answer 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

Entrepreneurial Leadership

1524 words - 7 pages Entrepreneurial Leadership By: David Pruett Dr. ABCDEF Contemporary Business - BUS 508 Date A good leader has the same characteristics as a nurturing parent. That approach encourages the entrepreneur to be a genuine leader, who cares for and develops his or her employees, much like a parent wants the best for their child. During my nineteen years of being of working and climbing the company ladder, I have had very few bosses that made

Entrepreneurial Leadership

1157 words - 5 pages rebirth strategy known as the three (P’s) people, passion and perseverance. On the other hand, Kouzes theory states that leaders should recognize the value of individual contributions which is critical to getting extraordinary things done, a method of motivation, through reward and acknowledgement. Both Case and Kouzes theories incorporate the new definition of entrepreneurial leadership is one of an enterprising, transformational leader who

Entrepreneurial Leadership - 1424 words

1424 words - 6 pages Assn. 1: Entrepreneurial Leadership An entrepreneur is a person who has the initiative to start a business, a new enterprise, venture or idea and takes accountability for the risks and the outcome. Most entrepreneurs have a desire for responsibility, like to take risks, have confidence in their ability to succeed, a desire for immediate feedback, a high level of energy, skill at organizing, and value of achievement over money. There are many

Entrepreneurial Leadership - 1115 words

1115 words - 5 pages Entrepreneurial Leadership Jacquia L. Robinson Dr. Kimberly Anthony Contemporary Business July 20, 2013 In 2002 only way one would know about Five Guys is if he/she lived in either Maryland or Virginia, or if they were visiting of course. Yet, to date, Five Guys just expanded its burger industry to the United Kingdom. In efforts to stay afloat during the current recession, Five Guys opened its business to franchising – resulting in

Entrepreneurial Leadership - 1197 words

1197 words - 5 pages Assignment 1-Entrepreneurial Leadership Five Guys is a hamburger restaurant that was founded by Jerry and Janie Murrell in 1986, in Arlington, VA, as a result of two of their five sons declaring they were not attending college. With their college savings fund Five Guys was born. From 1986-2002 a total of 6 locations were operating in Northern Virginia. Due to their enormous success the company began franchising in 2002. According to the text

Entrepreneurial Leadership - 1494 words

1494 words - 6 pages ------------------------------------------------- Entrepreneurial Leadership ------------------------------------------------- BUS508029VA016-1122-001 Dr. Etido Akpan Lisa Forlow 1/21/12 An entrepreneur is defined as a risk-taking businessperson in the private-enterprise (capitalistic) system. The businesses under this system can be for profit, meaning they ultimately focus on making money; or Not-for-Profit, meaning they have a

Entrepreneurial Leadership - 1315 words

1315 words - 6 pages Philosophy: Set apart A fast food burger is a burger, right? Not at 5 guys. Other chains use frozen meat with additional preservatives and have extensive menus with items such as milkshakes, salads, desserts, etc. 5 Guys website states “We follow the philosophy of focusing on a few items, and serving them to the best of our ability. If we were to add to our menu, then you can guarantee that we would only do so if we could serve the highest

Entrepreneurial Leadership - 1842 words

1842 words - 8 pages The purpose of this survey is to measure customer satisfaction it to see where company stand in this regard in the eyes of its customers. Customer satisfaction is the state of mind that customer has about a company, and its products or service when their expectations have been met or exceed. This state reflects the life time of the product or service experience. The customer satisfaction surveys are developed to provide understanding of

Related Essays

Entrepreneurial Leadership Essay 540 Words

540 words - 3 pages Entrepreneurial Leadership BUS 508 10/21/10 Entrepreneurial Leadership There is a new definition of entrepreneurial leadership that has evolved over time and this paper will examine that evolution as it relates to some business leaders of our time. It will look at the theories of some of those leaders like Steve Case, former Chairman of AOL, and James Kouzes, co-author of The Leadership Strategies and also Peter Drucker. Also

Entrepreneurial Leadership Essay 601 Words

601 words - 3 pages Assignment #1: Entrepreneurial Leadership Some consider Max Weber (pronounced VAA-ber) to be the father of sociology; however, he was also one of the earliest writers in the field of entrepreneurship. Weber viewed entrepreneurs as innovators, independent people whose role as business leaders conveyed a source of formal authority. As Weber discussed, among other attributes, successful entrepreneurs must possess effective leadership skills

Entrepreneurial Leadership Essay 897 Words

897 words - 4 pages Assignment #1: Entrepreneurial Leadership 01-17-2011 Assignment #1 Entrepreneurial Leadership1. Discuss the common elements described in the theories/philosophies of Case, Kouzes, and Drucker including how their principles/strategies relate to the new definition of entrepreneurial leadership presented in Understanding Entrepreneurial Leadership in today's Dynamic Markets.The theories and philosophies of Steve Case (2010), James Kouzes

Entrepreneurial Leadership Essay 2001 Words

2001 words - 9 pages Abstract An entrepreneurial leader lends his or her vision, leadership style, and strategy to the core of the business. This individual is a major independent variable influencing the outcome and success of the business. For the new century, there is a new definition for entrepreneurial leadership. This new leader will need to be able to operate in a highly unpredictable world where competition is fast moving. This case analysis will