Management in Business - Darker Traits of Entrepreneurship and GoPro's Promotional Strategies

Running head: MANAGEMENT IN BUSINESS
MANAGEMENT IN BUSINESS
Name of the student
Name of the university
Author note

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Part A
Question 1
The darker traits of the entrepreneurship form of business are being discussed in this
section with the aim of delineating the different flaws that might be faced by an entrepreneur
while managing then business units.
 Lack of proficient returns from the beginning- The major dark trait of
entrepreneurship form of business is dependent on the incapacitation of the
entrepreneurs to raise capitals from the very beginning. It has been noted Woodman’s
startup venture, Go Pro, faced similar difficulties at its initiation relating to the lack of
suitable returns from the investments (Forbes 2013). The lack of capital returns from the
very beginning might affect the morale of the entrepreneurs in developing the processes
in adherence to the demand of the customers.
 Lack of superior management skills might fail the project- The lack of superior
management skill of the entrepreneur might affect the potentials of the project and result
to failure. It is noted in the case of Woodman that initially the entrepreneur started a
venture named Funbug, which failed and resulted to failure in investments made of $3.9
million (Forbes 2013). It was noted that Woodman had limited knowledge on computer
science engineering which affected the managerial skills through lack of proficient
knowledge on the processes.
 Lack of proficient decision making skills- The lack of proficient decision making skills
of the entrepreneur might affect the potentials of the organization in maintaining the

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effectiveness of the operations in adherence to the sustenance related needs of the
venture.
Question 2
The entrepreneurship form of business undertaking is based on the complete processes
related design of the operations, launch of products and management of the financials for
maintaining the competitive advantage of the same. In this relation, the development of the
entrepreneurship form of business has different pros and cons. As stated by Peter Drucker,
entrepreneurship is a discipline, which might be learnt irrespective of any influence of genes or
magic. In this relation, the developments that were made by Woodman provides a complete view
of the manner in which the form of business capability is not dependent on the genes. The young
billionaire was from a mediocre family background where Woodland’s father used to work on
Pepsi’s purchase of Taco Bell (Forbes 2013). The development of the entrepreneurship qualities
in Woodman was based on the identification of the discipline and the manner in which the same
is cultivated for the smooth functioning of the systems.
The development of the enterprise by Woodman was specifically based on the
innovativeness of the idea that was proposed by the same. The innovativeness of the idea
supported the young billionaire in attracting the attention of most of the stakeholders. On the
other hand, the charismatic leadership style of the same supported in enhancing the process flow
with the aim of maintaining the improvements of the systems. The development of the concerned
venture is dependent on the management skills of the entrepreneur, which stimulated the
operations of the same while operating in the different aspects of change. Woodman portrayed an
enhanced skill of managing the operations of the venture which contributed to the development

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of competitive edge. On the other hand, the continuous learning activities of Woodman
supported the venture in developing the operations of the same through building on the
innovativeness. As Peter Drucker stated that the development of the organizational operations
are reliant on the specific development of disciplinary activities. Therefore, the development of
the managerial disciplines supported the entrepreneur in continuing with the innovative culture
of the organization while developing new lines of products.
Part B
Question 1
The Go Pro, GoPro, has taken steps to induce frequent innovations in the line of product
offerings, which has supported the venture in maintaining the steady growth of sales volume.
The innovativeness of the product offerings is dependent on the assessment of the needs of the
customers. The Go Pro aimed at manufacturing durable cameras for the target audience. In this
relation, the innovations in the product lineage of the organization supported the same in
developing competitive benefits. The vision of the entrepreneur also contributed to the
innovativeness of the Go Pro, which aimed at developing an ecosystem through capturing,
sharing, viewing and creating content for convenient, effortless and cost-effective operations. On
the other hand, the Go Pro also developed the promotional activities through the utilization of
social and digital media operations. It has been noted that the organization received 222 million
views on its YouTube channel and 4.7 million likes on Facebook (Forbes 2013). The enhanced
rate of promotions supported the venture in developing the operations in adherence to the
demand of the customers. Moreover, the development of the integrated promotional activities