Howard Schultz Biography

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HOWARD SCHULTZ Biography The Foundations of Entrepreneurship Professor Francesca Melillo Teaching Assistant Jelle Braes Marco Gilotto r0488889 Academic Year 2014-2015 Table of content Introduction 1. The characteristics of the entrepreneur 2. The process of identification of the entrepreneurial opportunity 3. The process of exploitation of the entrepreneurial opportunity 4. The drivers of the performance of the start-up References Introduction Howard Schultz is one of the most successful entrepreneurs of our time. He built the largest coffeehouse company in the world from the scratch to spread his passion and love for coffee. He succeeded in reinventing the tired concept of a cup of coffee by bringing the romance of Italian espresso bars all over the world. This paper aims at comparing Schultz’s entrepreneurial experience with a number of theories in the field of entrepreneurship. In particular, we will explore the characteristics of the entrepreneur, the process of identification and exploitation of the entrepreneurial opportunity and the drivers of the performance of the start-up. Schultz’s biography “Pour your heart into it” will be used to carry out this study. 1. The characteristics of the entrepreneur We will start by asking: what are the characteristics of the entrepreneur? There are at least two distinct approaches for answering this question, one in psychology and one in economics. The former concerns perception, cognition, personality and behavior at an individual level, while the latter concerns the reasons and the incentives that may prompt a man or a woman to become an entrepreneur. As far as the psychological approach is concerned, we will explore the personality of Howard Schultz, chairman and CEO of Starbucks, based on the The Big Five Personality dimensions used by Zhao and Seibert (2006). They found that on

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