Entrepreneurial and Innovation Diversity

Innovation diversity 1
Entrepreneurial and innovation diversity

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Contents
Introduction.................................................................................................................................................3
Walt Disney.............................................................................................................................................3
Bill Gates.................................................................................................................................................5
Oprah Winfrey.........................................................................................................................................6
Conclusion...................................................................................................................................................9
References.................................................................................................................................................11

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Introduction
Entrepreneurship is the term that refers to the aspect of production which carries out the
functions of Company. There are major five factors such as capital, land, enterprise, labour, and
land which are involved in the process of an entrepreneur. In the broader sense, an entrepreneur
can be referred to as the process of action which is undertaken by the person to establish his
enterprise. It represents an innovative and creative response to the environment (Audretsch &
Keilbach, 2010). This kind of rejoinders can take place in any countryside of social try might be
agriculture, education and social work. It is vital to have efficient knowledge regarding political
and economic environment, more specifically regarding the economic policies of the financial
and economic along with commercial institutions (Shah and Mulla, 2013). There are various
kinds of risks have to face by entrepreneur. Initially, in introducing a small business, the
entrepreneur has to face a number of business risk in the level of the failure rate of small
companies is quite high. On the other hand, entrepreneurs have to handle upper level of financial
risk merely due to they invest most in their personal finance.
This assignment highlights three entrepreneurs with their background, education,
progress, struggle and success. An evaluation will be made regarding the same by taking
consideration of different theories, concepts and framework. The discussion will be made on
Walt Disney, Steve Jobs and Oprah Winfrey. These are well-known personalities in the world
that contribute to the development of the economy of the specific country.
Walt Disney
Walter Elias Disney was a famous entrepreneur in America. He was born in Chicago in
1901, the first interest of Disney was in drawing for which he took art classes and got a job for

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the profile of commercial illustrator at the age of 18. With the help of his brother Joy, He had
started Disney Brother Studio and then Walt made the character of Mickey Mouse in 1928,
which was his high popular success. Moreover, Walt Disney put a lot of efforts in bringing
change within the business and the results seen in characteristics such as Pinocchio, Fantasia,
Bambi, Snow White and seven dwarfs and Dumbo (Mannheim, 2016).
In the context of his history and family background, it has been found that Walt Disney
started off as a farm boy who had significance in depiction cartoon pictures of his neighbor’s
horses for fun (Sutcliffe, 2009). It has been analyzed that the first original character of Disney
was Oswald the Lucky Rabbit, but Universal Pictures owned this character because Disney was
working under contract at the time. At the time of walking out on Universal Pictures by Walt
Disney, he required to develop a substitute, which is how Mickey Mouse came into being. At
that time, Disney was hugely successful with his animation company, but with this approach, he
was not satisfied. The main aim of his is to make the biggest and huge theme park (Krasniewicz,
2010).
The current management style of Walt Disney is effective as he adopted transformational
leadership style and involved all employees in decision-making approach; he connected with
each employee personally so that they could not make effort to reach high authority. He drew
people in with his charismatic charm and provides family-like environment (Watts, 2013). Same
kind of attitude is being adopted by the latest leader of Walt Disney.
Theory of entrepreneurship
In the context of Walt Disney, it has been found that the work of Walt Disney is based on
entrepreneurship innovation theory because he was known for its creative foresight. According