StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Entrepreneurial Leadership Paper - Assignment Example

Comments (0) Cite this document
Summary
Running head: FIVE GUYS Five Guys: Entrepreneurial Leadership  Nicole V. Monroe Professor Daniel Sersland BUS 508 Contemporary Business July 20, 2012 Five Guys: Entrepreneurial Leadership  Determine how Five Guys’ philosophy set differs from that of other fast-food chains…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER93.7% of users find it useful
Entrepreneurial Leadership Paper
Read Text Preview

Extract of sample "Entrepreneurial Leadership Paper"

Download file to see previous pages Five Guys emphasizes service quality more than business profitability, as the management believes that this policy is the best way to meet customer expectations. Jerry Murrell, one of the co-founders of Five Guys, says that his business plan was simply to “sell a really good, juicy burger on a fresh bun. Make perfect French fries. Don’t cut corners” (as cited in Contemporary Business, 2012). The company is not ready to compromise its product quality despite the considerable amount of money and time it has to invest to sustain it. The case study reflects that the company imported potatoes from northern Idaho regardless of the slow growth issues in order to obtain solid and tasty potatoes; and in contrast to this, the firm’s competitors imported cheaper and low quality potatoes from Florida or California (Contemporary Business, 2012). Similarly, when most of the fast food chains served dehydrated frozen fries to take advantages of size, Five Guys always provided its customers with fresh fries. It is observed that most of the other food chains tried to pool cheap raw materials in order to enhance wealth maximization. This business philosophy benefited the organization in achieving high level customer loyalty. From the case study, it is obvious that customers patiently wait for burger even if its 17 different toppings are made to order and it is a time consuming task (Contemporary Business, 2012). Furthermore, Five Guys’ distinct philosophy helped the company to eliminate advertising expenses since the strategy itself was a sufficient asset to make customers advertise for the company. Analyze the original values of the start-up company and how it remains strong today Since the beginning, Five Guys has been successful, and it is one of the few food chains in America that remained unaffected by recent global recession (QSR Insights, 2012). While seeking the reason, it is clear that the company’s strict policies have helped it to overcome various market difficulties throughout its history. In other words, original values for the start-up company still remain strong despite some negligible changes. As the company management had decided at the time of Five Guys foundation, the firm still continues to offer quality products and services to its customers. At the start up time, the company had decided not to use low quality ingredients or serve frozen food items to people. Minimizing advertisement expenses and thereby passing savings to customers was another start up value of the firm. Even in the midst of the recent global recession, the company was not ready to use low quality ingredients for its food items. In addition, the company still focuses on its customer advertising strategy together with employee incentive schemes to promote its business. Even when the company began franchising in 2002, it was vigilant, insisting that franchisees do not use low quality products and do not render low quality services. In order to ensure franchisees’ potentiality, the firm does not franchise to anyone unless the prospect operates a minimum of five restaurants. Throughout its history, the company received numerous awards for its efficiency and customer services. Most notably, the firm obtained Washington Magazine’s “Number 1 Burger” award for seven years (Contemporary Business, 2012). However, according to 2010 annual report by the Center for Science in the Public Interest, Five Guys’ ...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Entrepreneurial Leadership Paper Assignment Example | Topics and Well Written Essays - 1000 words”, n.d.)
Entrepreneurial Leadership Paper Assignment Example | Topics and Well Written Essays - 1000 words. Retrieved from https://studentshare.org/business/1454325-assignment
(Entrepreneurial Leadership Paper Assignment Example | Topics and Well Written Essays - 1000 Words)
Entrepreneurial Leadership Paper Assignment Example | Topics and Well Written Essays - 1000 Words. https://studentshare.org/business/1454325-assignment.
“Entrepreneurial Leadership Paper Assignment Example | Topics and Well Written Essays - 1000 Words”, n.d. https://studentshare.org/business/1454325-assignment.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Entrepreneurial Leadership Paper

Management and Leadership Development

In modern epoch this theory does not apply, this is due to the fact that the education standards have got tremendously advanced and now – a – days the students are not taught the basic concepts of life because they ‘should’ know them, but rather the education standards and the curriculum is created in such a manner so that it embraces every aspect of the students' psychology and make the student think and act according to the way that he/she is being taught, rather than to just make him read the books over and over again. That is, education in the present era will build the student's skills and let the students gain knowledge rather than to just have them read, give their papers, and forget all about it.
8 Pages (2000 words) Case Study

Recognized and Unrecognized Managerial Leadership

The changing roles of management in the current era of rapid globalization has been succinctly articulated in the two articles: ‘Recognized and unrecognized managerial leadership’ by S. Sjostrand and M. Tyrstrup; and ‘Why hard-nosed executives should care about management theory’ by Clayton M. Christensen and Michael E. Raynor.
 Leaders create visions and goals whereas the managers and administrators work towards achieving them.

Organizations are characterized by the unique culture that is inherent in the overall working of the organization. Discussion of leadership with reference to a large organization is as important as that of a small one for the simple reasons that the leaders with...
6 Pages (1500 words) Report

Leadership Development Experience

The nine-month certificate program which I completed at Leadership Institute of South Puget Sound combined academic study on leadership with practical development of leadership skills. Numerous community service activities such as involvement in Employee Community Fund (ECF), being a Child haven volunteer, Christian Center volunteer and a Junior Achievement Consultant have exposed me to situations which made me apply many skills such counseling young people, and motivating them to achieve their full potential, seeking solutions with expansive thinking and application of flexibility and quick responsiveness. My involvement in Christian Center had specially sharpened my crisis management skills by participating in natural disaster m...
13 Pages (3250 words) Assignment

Role of Leadership in Organisations for Entrepreneurial Success

It has also been defined as “a multidimensional concept encompassing the firm’s actions relating to product-market and technological innovation, risk-taking and proactiveness” (Kellermans & Eddleston, 2006). Thus an entrepreneur is a person who is prepared for new challenges, face adversities, take the risk and achieve profits by identifying opportunities and utilizing the resources available. An SME operates in an uncertain environment characterized by multiple and frequently competing stakeholders. Thus it is essential to determine whether the entrepreneur should be a good manager or posses the leadership qualities. It is also essential to evaluate the leadership role that an entrepreneur has to play.
...
7 Pages (1750 words) Term Paper

The Best Leadership Style

The leadership styles are autocratic, where the leader makes the decision and communicates it to subordinates to be carried out; democratic, where he involves subordinates in the decision making; and free-rein where he leaves most of the decision making to subordinates. The leadership style that is appropriate depends on the leader, the subordinates, and the situation. The best leadership style is one that adapts to the circumstances at hand.
A team is defined as a small group of people with complementary skills who are committed to a common purpose, approach, and set of performance goals (Boone and Kurtz 1997). The most popular types of teams are work teams, which include high-performance or self-managed teams; and special-...
10 Pages (2500 words) Assignment

Leadership: a Critical Construction

I experienced all the theories by different writers by working on them practically. While working in a group, I found out communication plays a very important role in group performance. Team working, communication and leadership, all are very important in group working and a group cannot work and perform successfully in the absence of these skills and because of these skills being poor. During my work, I found out communication, whether it is written communication, verbal communication or face-to-face communication, is very important in all its forms because it is only because of communication that we are able to deliver our messages and ideas to each other.
Leadership also plays an important role because a leader is required...
11 Pages (2750 words) Personal Statement

Global Challenges for Business Management and Leadership

This section aims at understanding the challenges faced by the United Nations due to political conflicts. In the summer of 2007, an issue in the Politically Speaking, the DPA had highlighted the increased focus on the conflict meditation. This report had also highlighted the interview with the Under-Secretary-General for political affairs. In the interview, he defended the UN against all the criticism and he also highlighted the need for finding political solutions for issues around the world. The interview also highlighted the importance of results to show the effective working of the UN. This interview also highlighted and urged critics to look at the positive along with the negatives of the UN. “The UN has knowledgeable a...
7 Pages (1750 words) Research Proposal

Leadership in Organization

There are eight leadership theories that can be considered as the most persuasive and convincing in terms of the concept of leadership in various organizations. Leadership depends on the traits and skills that those people should have in order to lead. The leadership theories that are considered convincing are Great Man theories, Trait Theories, Contingency Theories, Situational Theories, Behavioral Theories, Participative Theories, Management theories or Transactional theories and Relationship theories or Transformational theories (Wagner, 2005).

The leaders that come under the category of Great Man theories are those who have the inborn capability of leadership. The leaders that come under these theories are considere...
8 Pages (2000 words) Case Study

Traditional Theories of Leadership

They now focus more on doing things whilst thinking about the times that will follow; building upon their strengths and aiming to address the grey areas. The eventual emphasis within the modern theories of leadership has been centered on the premise of bringing about a change that remains abreast of the times that will come ahead (Lynch, 2006). Changing the dynamic mindset of the organizational processes and behaviors is a significant undertaking and this has rightly been pointed out by these modern theories under the leadership tenet. The visionary role of leadership has made things easier, focused on the long term actions and sought clarification from the goal setting and objectives’ regimes (Zaleznik, 1989). The new theor...
6 Pages (1500 words) Assignment

The Management, Leadership and Teamwork Competencies Required by a Small Business Owner

On the other hand organizational leadership is defined as the ability based on the specific skill of an individual to lead his/her subordinates in a manner that pre-planned organizational goals could be achieved within the defined time-frame.

According to Burns (1978) and Bass (1985), transformational leadership has a set of category constructs such as values, morals, farsightedness, long term goals, principles, acute awareness about the dividing line between causes and symptoms, mission statements, strategic perspectives, and human resources. Similarly, they identify a set of category constructs in the transactional leadership also. For instance concentration on the task at hand, short term goals and tactics, confusion co...
6 Pages (1500 words) Coursework
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Assignment on topic Entrepreneurial Leadership Paper for FREE!

Contact Us