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The concept of entrepreneurship in contemporary culture

   

Added on  2019-11-26

12 Pages2715 Words190 Views
Running head: ENTREPRENEURSHIPEntrepreneurshipStudent’s name:Name of the university:Author’s note:
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1ENTREPRENEURSHIPTable of ContentsIntroduction......................................................................................................................................2Airbnb:.............................................................................................................................................2Zambrero:........................................................................................................................................5Qantas..............................................................................................................................................6Conclusion.......................................................................................................................................8Reference List..................................................................................................................................9
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2ENTREPRENEURSHIPIntroductionThe concept of entrepreneurship is not an idea of management, but it can reside in thezeitgeist of contemporary culture as well. An entrepreneur is a person who manages an enterprisewith an initiative of his/her own. The starting of entrepreneurship is not a sudden occurrence; itstarts in their brain since long. The risk is an integral part of entrepreneurship as it is a braveventure against the financial security. The idea of business must be innovative and assessment ofcustomers' needs should be there. In this essay, three successful entrepreneurs' ventures will bedescribed and analysed. Moreover, the entrepreneurs' success, failure, motivation, external andinternal factors of doing a business will be explained.Airbnb:Airbnb is an entrepreneurship venture started in the year 2008, August in San Francisco.This venture is now served globally dealing in hospitality and online marketplace. This isinternet based venture and this can be accessed through the company website and mobileapplication system. Airbnb helps people to take a short-term lodging for holiday purposes,vacation rentals, hotels, home-stays and apartment rentals (Airbnb.com, 2017). However, Airbnbdoes not own any lodging; they just act as a broker or third party service between hosts andguests. This company takes a percentage or fees in each booking. Airbnb business venture started with an email that was sent by Joe Gebbia to BrianChesky. At that time, both of the founders had no job and they were unemployed. They werelooking for extra cash. During this time, all hotel rooms were booked and no room was availablein San Francisco. Both of them decided to buy a few airbeds and gave their rooms in rent. In the
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3ENTREPRENEURSHIPfollowing morning, they made a website named ‘Air Bed and Breakfast’. They decided to chargethe room $8p per night. One Indian man took the room with other three. Then, Harvard graduateNathan Blecharczyk managed to join them. Three of them made another website at NXSW in theyear 2008 (Businessinsider.in, 2017). However, in initial stage, they had only two users of thewebsite. In the later stage, they went to meet investors; however, the investors were notconvinced. Fifteen angel investors and eight other investors rejected their idea. They met YCombinator and this startup accelerator invested with funding. The three guys started visitingplaces and took photographs of hosts. Lastly, in the year 2009, they launched Airbnb. It was clear that Joe Gebbia and Brian Chesky followed their instinct to make moneyfrom the business. However, they did not want to do the job and started their own business andthat could give them flexibility in working. Brian Chesky shared his academic background wasindustrial relation and it taught him to design the product. His learning in his academic lifehelped him to grow in the business. The external factor of the political condition of U.S at that time was stable and peopleneeded more hotels with cheap price. During Obama’s election campaign, the website was notgetting popularity, so, they decided to sell cereal boxes in the street. This marketing strategygave them $30,000 into their account. In later time, in Denver, people needed rooms for stayingduring election and they used their website to attract customers. Moreover, they did not haveemployment during the beginning phrase. They needed investors to invest in their ventures.Their great idea and proper timing to do business lastly became successful. In the previous time, this type of online platforms was there (such as Windu), however,they added their innovation that played a role to attract the hosts and guests. They developed an
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