Compare and contrast different types of entrepreneurial ventures?
The effective entrepreneurship helps in achieving success for the new featured business entities. The entrepreneurs are the ones who formulate the efficient business plans with the help of integrated resources. Guivarch & Hallegatte (2013) described that the entrepreneurs lead the company towards either success or failure. This study will evaluate the success entrepreneurs like Mark Zuckerberg, who is known as the co-founder of Facebook and Howard Schultz, the CEO of Starbucks. The description of their business planning will be explored in a structured manner.
The main ideas of Mark Zuckerberg while establishing the features in Facebook, the focus, is to establish the relationship between the people through the direct connection in social networking sites (Bygrave & Zacharakis, 2011). In the implementation of the online ratings and the online comments, profiles for uploading pictures, sharing updates will be considering the perspectives of the people from different locations, countries, communities, etc.
On the other hand, Howard Schulz is the CEO of Starbucks Coffee, and the concentration of the company is to provide good quality coffee along with such feasible meals for the customers who are visiting the stores. The employees are trained in a skilled manner, and they will be much skilled for treating the customers with better hospitalities (Mutara, 2012). One of the most relevant ideas that Howard Schulz has presented is to give rise to the global brand of Coffee.
To make the features of Facebook more attractive to the users, Mark Zuckerberg has introduced the safety app for securing the login in Facebook. The users feel safer and secure about the password they have set for their profiles. The innovation of the Facebook Messenger has reached 600 million users these days, and the number is still increasing (Schneider, 2013). The new featured applications are providing the securities to the uploaded pictures, updates sharing and other personal stuff. In the year of 2006, Mark Zuckerberg introduced the features, and this innovation is highlighting the mini-blogging, different notes. This allows the users from different other social networking sites as well. In 2007, Mark Zuckerberg introduced the features of tagging and posting the attachments.
In case of the Starbucks Coffee, Howard Schulz has implemented a new system in the costing structure. The company offers $1-per-cup for ‘basic’ brew and even several other interesting coffee beverages. The new espresso coffee, iced coffee, cappuccino, etc. have gathered the interest of the customers in these days. Howard Schulz is even concentring upon the comfortable ambiances by keeping the places enlightened, clean and spacious. The most changes found in maintaining the business and the transparent relationship building with the employees (Roy, 2011). The efficient training session provided to the employees and the proper relationship maintaining is working as the driven forces for assuring productivity as well as the profitability for the company.
With the implementations of such features, Mark Zuckerberg has earned the profitability in a quite prominent manner. The implementations of such innovations into the Facebook features have gained the support of 1.26 billion users. Facebook derives almost 3.2 billion likes per days from these registered users. The iOS app is applied in the case of using the Facebook from IPhones. It has increased the economic profitability since the users can easily access Facebook from their mobile phones.
It has been seen that in the year of 1994, the store of Starbucks reached the amount of 425 stores (Oncioiu, 2012). The amount increased to 2,200 in the year of 1998. After two years, the company earned the profitability of $2 billion. Howard Schulz could easily achieve the turnover rates, which derived the relevant resources used for the training costs and costs of the other adaptations.
The sources for deriving ideas about such technicalities, which are needed to be implemented for presenting the business establishments, are significant enough for concerning the relevant ideas about the entrepreneurship. Mark Zuckerberg has derived the ideas about the implementations of the relevant apps and technicalities for connecting people worldwide while Howard Schulz is concentring upon the CSR rules for maintaining the business sustainability. The proper evaluation of such linking derived from the study will be enhancing the relevant integration process while starting up a new business. The amendments of the technicalities are ensuring the successful entrepreneurship.
The entire study is evaluating the necessity of the structured plan and the amendments while starting up the new entrepreneurship. The information derived from the business structure and ideas of top entrepreneurs like Mark Zuckerberg and Howard Schulz have been much identified and significant for establishing the business entity and leading towards the success.
Bygrave, W. & Zacharakis, A. (2011). Entrepreneurship. Hoboken, NJ: Wiley.
Roy, R. (2011). Entrepreneurship. Oxford: Oxford University Press.
Guivarch, C. & Hallegatte, S. (2013). 2C or not 2C?. Global Environmental Change, 23(1), pp.179-192.
Mutara, L. (2012). An entrepreneur first and foremost. Br Dent J, 212(6), pp.259-259.
Oncioiu, I. (2012). An Outline of the Concept of Entrepreneur: Tradition and Modernity. Research in Applied Economics, 4(3).
Schneider, M. (2013). Developing Your Inner Entrepreneur. Organization Management Journal, 10(2), pp.151-151.