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For entrepreneurship and small business course - Case Study Example

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Dave Thomas is great entrepreneur as he innovates and takes the risk in developing Wendy’s International business specializing in selling food products. He also exhibits qualities of good entrepreneur. Such skills include self-confident, independent, commitment, highly…
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Case study for entrepreneurship and small business course
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Wendy’s Hamburger Case Study Wendy’s Hamburger Case Study Dave Thomas is great entrepreneur as he innovates and takes the risk in developing Wendy’s International business specializing in selling food products. He also exhibits qualities of good entrepreneur. Such skills include self-confident, independent, commitment, highly reliable, problem-solving skills, organizational skills, competitive, strong integrity, and desire to work hard. In addition, he has strong management skills, strong drive to achieve besides he is opportunity seeker, good planner, and persistent initiator, risk taker and problem solver (Zimmerer, Scarborough, & Wilson, 2008).
As an innovative entrepreneur, Dave invented the turning bucket that is a signature mark outside many KFC restaurants. Dave was also flexible and self-confident when he specialized in selling hamburger. He was committed with strong drive to achieve when he went on to open hamburger restaurant despite opposition from professional bankers and financial advisers who told him, the market was saturated.
He was good planner with organizational skills and strong management skills because how was able to open a chain of hamburgers. He responded to customer’s demand by offering better quality food products and expanding the menu to accommodate customers’ demand. He was willing to listen to customers in order to respond to their needs (Zimmerer, Scarborough, & Wilson, 2008).
2
Dave’s success with the first Wendy restaurant can be attributed to the strong entrepreneurial skills and the ability to listen to customers’ demands and respond to them as quick as possible. Dave was very friendly entrepreneur who consulted bankers and other financial advisers for advice, but often made personal and independent decisions that contributed to the success of the restaurant.
Another attribute that contributed to the success of the first restaurant was the specialization. Dave specialized to an area where he was most interested in hence improving quality of the food products. His invention as well provided him with free product hence saving the cost that could be used to buy the rotating bucket sign. This was also attractive to customers who became loyal to the restaurant (Zimmerer, Scarborough, & Wilson, 2008).
3
The statement means that an entrepreneur has to diversify his targets and goals to align with the customers in order to keep their loyalty and meet their demand. Every entrepreneur has his goals for starting a business. He is, therefore, driven by commitment, independence and the ability to achieve the goals (Zimmerer, Scarborough, & Wilson, 2008).
The entrepreneur cooperates with other stakeholders in the business to achieve the goals. Customers as the stakeholders may have demands that contradict the fundamental principles and goals of the business, making listening to their demands to be very hard. Another problem caused by listening to customers demand and doing whatever they want is the changing taste and preferences of customers over a short period. Therefore, implementing whatever they need may become inferior after some days when their taste and preference also changes (Zimmerer, Scarborough, & Wilson, 2008).
4
In order to ensure sustainability of the business, Dave should ensure proper alignment process strategy. This involves aligning the products with the required laws regarding environmental conservation, tax and revenue payment, quality standards as spelled in the Food and Poisons Board as well as aligning it with the vision and mission statement.
Another advice is aligning the production processes with the strategic choices. The production process is synchronized and restrained against the overall strategic choices of the business and lastly documentation of the strategic choices and their concerns for alignment (Zimmerer, Scarborough, & Wilson, 2008).
Reference
Zimmerer, T., Scarborough, N. M., & Wilson, D. (2008). Essentials of entrepreneurship and small business management. Upper Saddle River, N.J: Pearson/Prentice Hall. Read More
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