Entreprenuerial Leadeership Essay

2449 WordsApr 24, 201210 Pages
Entrepreneurial Leadership Strayer University Contemporary Business Dr. Brian Collins April 21, 2012 Abstract The entrepreneurial spirit is an integral part of the business world in the United States and in many other parts of the world as well. According to our text book, Contemporary Business by Louis E. Boone and David L. Kurtz (2011), entrepreneurship is important because it adds new jobs to our society as well as increasing our ability to be competitive on a global scale. Many new jobs are added each year due to individuals planning and starting new business and industries to meet the growing demands of our ever expanding and evolving society. Entrepreneurs are risk takers, wiling to roll the dice with their money or reputation on the line in support of an idea or enterprise. They willingly assume responsibility for the success or failure of a venture and are answerable for all its facet.’’. The above quote is from Victor Kiam, the president and CEO of Remington Products. Victor Kiam made his fortune through the purchase of Remington, a company that sold electric razor. After his wife had bought him his first electric razor, he was so impressed with the product that he decided to buy the company. He became famous for purchasing the Remington Company because he created the catch phrase “I liked it so much, I bought the company!”. Victor Kiam can be considered as profit oriented serial entrepreneur because his primary goal was to provide electric razor to consumers and make profit which will lead to the success of his company. A serial entrepreneur starts one business, run it, and then start and run additional businesses in succession (Boone and Kurtz, 2011). Victor Kiam is a good example of a serial entrepreneur. Kiam’s first company was Benrus watchmakers which later became luxury accessories. After eight years, he started the

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