Personal Journal: Entrepreneurship

This personal journal entry discusses the author's enterprising tendency, personality, skills and experience, and reflections on Ted Turner's entrepreneurship. It also includes a BMC and SWOT assessment of Turner Broadcasting Systems Inc. and a course reflection on entrepreneurship.

Running head: PERSONAL JOURNAL ENTRY 1
Personal Journal: Entrepreneurship
Student’s name
Institutional affiliation

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Personal Journal: Entrepreneurship
Entry Set 1
GET Dimensions
Self-awareness is a crucial value in determining how a person is able to deal with
different situations. Although it can be measured in different approaches, the general measure of
enterprising tendency (GET) can be used to examine how well a person stacks up against its five
dimensions. For me, the zeal to carry on with challenging tasks and finding a solution has been
the greatest source of my achievements. Although dislike challenges that stretch my abilities to
the limits, thinking more about the future provided assists me registering achievements in the
more challenging task. The drive is a critical element of an enterprising tendency, I am usually
motivated by the surrounding environment. The desire to live in an upright society and be useful
to the community sums up my greatest drives that have made it possible for me to be a risk taker
in both business and work.
None the less my creativity levels are still wanting according to the results of the survey
(with a total of 4 out of 12). This has been occasioned by the liking of working under a superior
for mentorship purposes that are in-line with my desires. However, the creativity level varies
according to the matter in discussion. As for the desire for autonomy, I can affirm that it’s at a
moderate level. This is occasioned by the desire to follow guidelines from an experienced
person. However, my zeal for risking has slowly improved my desire for autonomy. Lastly, my
internal locus control is high and I could attribute it to a strong personality that is possessed.
Particularly, decisions that have impacts in my professional and business life are carefully
evaluated before making a choice.

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Based on the survey it is apparent that I need to improve my creativity and develop a
strong desire for autonomy. These two deficient might have been occasioned my past upbringing
which entailed following parental instructions without questioning. Furthermore, I have not
managed to get fully exposed to real-life situations that requires tuff choices and involves huge
risks.
Personality
From the scores on the survey with a general score of 24, it is apparent that my general
enterprising tendency is still low. This closely links up with my introversion personality which
involves holding close a detail-oriented approach to everything I undertake. For this reason, I can
describe myself as a thoughtful individual who keenly pays attention to information at hand to
make decisions.
Skills and Experience
In essence, I am an idea creator. However, without proper guidelines and motives, I may
not be able to accomplish them with the magnitudes intended. For this reason, when joining any
team I always bring with my ideas, strategies or entrepreneurial knowledge. From experience
running my parent’s business for more than a year, I have mastered the art of turning
opportunities into real profitable ventures. Furthermore, my quality of being a risk taker and a
thoughtful person are also experiences that I can bring onboard in a team. As a hipster, I believe
that such skills are essential in running an entrepreneurial venture at any given point.
Entry Set 2
Poster Entrepreneur

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Ted Turner the founder of a world-class news broadcasting station Cable News Network
(CNN) inspires my desires to be a successful entrepreneur. Born and raised in the United States,
he faced challenges in life including disagreeing with the father due to the choice of career he
wanted, naval officer, and what the parent wished he could do, economics. After being expelled
from Brown University, he was employed as a sale person by his father who by then owned
Turner Advertising Company. Due to his zeal to prove his creativity and zeal to his parents, he
becomes the best sale representative for the company, making his father award him a general
manager role at their Macon, Georgia operations ("Ted Turner", 2008).
The success of Ted came after his father commits suicide due to accumulating debts that
threaten the existence of the company. After reviving his father’s company, he shifted his focus
to media and purchased an ailing television station Channel 17. With time, his entrepreneurial
skill, risk-taking capabilities and commitment to purpose saw him develop into a prominent
entrepreneur in the media business. By the time he started his entrepreneurial activities, the
economic condition of the United States was wanting. Coupled with his belief and philosophy
that all super achievers are motivated by instincts and a sense of security, Ted was able to
prosper to a degree of becoming the first entrepreneur in the US to develop a “superstation”,
WTBS.
Ideally, Ted was driven by the opportunities and loopholes in the media industry.
Although he personally had a passion for excellence, his risk-taking behaviours of investing in
the projects and hoping for a future change in the trends in the market paid off handsomely. It is
the improvised approaches to media which Ted used that ensured he obtains success. In essence,
his social abilities led to him funding the United Nations to a tune of $1 billion. For

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entrepreneurs, such social motivations are vital in shaping how the consumers perceive the
business (Pandey, 2016).
Reflection on the Poster Entrepreneur
Personally, I chose this entrepreneur due to the nature in which he handles his business
and the zeal to expand amidst uncertainty in the industry. Among the many motivational
inspirations, I draw from the entrepreneur is how he changed his attitude towards being a navy
officer to a successful businessman that owns one of the most reckoned media houses. Although
there was a setback on his journey to success, it was his commitment to achieving his set goals
and leadership skills that saw him revive an almost collapsing television station to a global news
media house. Furthermore, the desire of the Ted to invest in any available opportunity with a
promising future return intrigues me a lot.
Additionally, the philanthropic acts of the entrepreneur that saw the formation of United
Nation Foundation is a special quality that makes him portray a sense of emotional attachment to
the society and the challenges it faces. This is one of the greatest virtues of Ted that has inspired
my desire to be at some point a successful business mogul and give back to the society
accordingly. Lastly, the strategies employed by the Ted to utilize any available opportunities for
business motives me to be a sound, active and an opportunist as an entrepreneur.
Entry Set 3
The business of the Entrepreneur
After Ted’s father passed on and him taking over the business, an advertising company,
he literally helped it get from its knees. Three years later he started buying Southern radio
stations which he later sold and purchased Channel 17, a television station. With time the

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business has expanded to a magnitude of capturing a significant share in the international media
industry under the company label Turner Broadcasting Systems Inc. Under this label, Ted has
CNN, TNT, Brut Productions and MGM/AU Entertainment among other affiliated media
businesses. The mission of the company is to hold a great compassion and be of service to
others. Since its establishment, the company has continuously been improving from a mere $700
000 value to a current valuation of $2.3 billion. The company has always been praised for
exemplary employee relations as well as a caring culture that seeks to impact the society
positively ("Ted Turner", 2008).
The rationale for choosing this company
CNN defines the real-time updates of what is going on in the world. For this reason, the
company under the label of TBS has successfully changed the approach to which global news
reaches people in real-time. The inspiration of the company to me does not only stop at the
aspects of disseminating international happenings but also extends to the philanthropic acts the
company is undertaking in the society through the United Nations Foundation. From the
company, I would emulate several aspects. First, the diversification of services offered/product
line to maximize profits and utilization of resources. Second, the act of the company merging
with even bigger companies to achieve economies of scale and brand recognition. Lastly, I
would emulate its social responsibilities and an exemplary employee relation as well as
organizational culture. These aspects are essential for sustainable entrepreneurial ventures, thus
stemming the reasons why I would emulate and implement them.
Entry Set 4
Poster Company’s BMC

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Based on the BMC of Turner Broadcasting Systems Inc., all the building blocks of the
canvas have been critically established to ensure there is consistency in the business and it stays
sustainable in the market. Customer segments are categorized into three broad groups. The
company focuses on the US citizens, the international audience and companies in movie and film
production. Furthermore, the focus on companies in need of running adverts on its major
channels is also gaining momentum. In terms of value proposition, the company has developed
real-time update forums for those unable to be always connected to their televisions. Those
forums are majorly social in nature and involve either online streaming or interaction with the
company’s staff.
To reach the customers, TBS focuses on primarily social media platforms and other
social events organised or sponsored by the company. For instance, while airing sports on Turner
Sport, the audience are able to interact with the commentators in real time from the broadcasting
place. In customer relationships, the company has opted to engage social platforms to offer
personal assistance to the consumers. Furthermore, self and automated services are offered
through live streaming. As a result, the consumers leave feedback for the company at their
streaming sites and social media platforms. For revenue streams, the primary source is
subscription rights by multiple broadcasters as well as running adverts for various organizations
and companies. Furthermore, the affiliated programs to the company’s business generate a
considerable amount of revenue.
The key activities of the company are ensuring the audiences receive real-time news
updates, information about various products as advertised as well as coverage of sports action at
different times. Further, it offers cable and satellite TV coverage and has engaged in film
productions and airing, through its affiliate partners ("Ted Turner", 2008). Among the key
Team or Company Name:
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Team or Company Name:
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Team or Company Name:
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partners of the company includes Time Warner, Universal Wrestling Corporation, New Line
Cinema, Hanna-Barbera Productions, Cable Music Channel, Atlanta Thrashers and Sports South.
These partners have been essential in the growth and development of TBS under the leadership
of Ted Turner and other managers. As for resources, the company primarily relies on its
employees at different levels and department to maintain and sustain the company’s corporate
culture and activities. Lastly, the cost structure of the company is diversified depending on the
services being offered by some of its subsidiaries. Majorly, maintenance and administrative costs
top in their structure. Generally, the company used a simple business model pattern that included
coordination of all its activities to achieve a set purpose.
SWOT Assessment
Based on the SWOT analysis performance of the BMC of the company, it is apparent that
its strengths are based on leadership, customer segments, and creativity within the company.
Innovations and a wide customer segment have been great factors that have ensured that the
company performs optimally in the global and local markets. Furthermore, opportunities such as
potential growth in digital advertisement and possibility of mergers and acquisitions present
significant advantages to TBS. If the company opts to further expansion into the market, these
opportunities can be used as stepping stones for the achievement.
However, increasing completion and tightening of communication regulations are the
greatest threats to the business model of the company. They limit the content the company can
share, air or stream on their various media platforms, thus reducing the overall income from the
services. Additionally, weaknesses such as poor infrastructure in developing economies have
limited the penetration of services offered by TBS subsidiaries across the world. Furthermore,
the limited coverage of some media stations owned by the company presents a challenge to the

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entire business model. Nevertheless, TBS has managed to sustain its business in the media
industry despite selling off some of its assets to various companies and forming partnerships.
Reinventing Company’s Business model
In improving the company’s business model through blue ocean strategy, a five-step
approach can be used. First, choosing the right place to commence the business and constructing
the blue ocean team will precede all the changes. Second, getting clear about the present state of
the market conditions will follow. Third, revealing the hidden factors that have limited the size
of the company will also be undertaken. Fourth, a systematic reconstruction of the segments in
the market will follow. This gives the opportunity to include all potential segments of the market
(Denning, 2017). Lastly, an appropriate blue ocean move will be adapted and used to carry out
tests in the market to prove its feasibility and authenticity. In the long run, the new canvas will
include all the original components of the model but with an addition of new key performance
indicators and areas.
Entry Set 5
Course Reflection
The entire course has been interesting and full of beneficial insights on how to manage an
entrepreneurial skill and implement it to create a value proposition. Personally, I have mastered
the art of developing value proposition which a key aspect of entrepreneurship and any business
(Osterwalder & Pigneur, 2013). In essence, I learned how to design a business model that
includes all the components of a canvas as well as aligning it with the strategies in place.
Furthermore, the course has sufficiently enlightened me on how best to innovate and convert the
innovation to a feasible business model that can withstand the challenges in the market. All the

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processes have been clearly synthesized in the course providing an overall overview of
entrepreneurship. To me, I did not find any information on the course to be less important to
anyone wishing to be an entrepreneur in future.
A lot has changed since the first day of the course. With each concept covered in the
course, I became more inclined to become an innovative entrepreneur who not only understands
the market but also has self-discipline in business (Aulet, 2013). My perception on how an
entrepreneur performs his/her duties has significantly changed owing to the insights given
throughout the course on issues such as validating key assumptions, financial analysis, and
evaluation (Aulet, 2013). For this reason, I have become more attracted to changing my
entrepreneurial innovation skills to fit the market and value proposition I intend to provide to the
customers. Essentially, the course was not just an academic undertaking but rather a personal
enrichment medium for anyone who was keen on the insights presented throughout the course.

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References
Aulet, B. (2013). Disciplined entrepreneurship. Canada: Wiley & Sons.
Denning, S. (2017). Moving to blue ocean strategy: A five-step process to make the shift.
Retrieved from https://www.forbes.com/sites/stevedenning/2017/09/24/moving-to-blue-
ocean-strategy-a-five-step-process-to-make-the-shift/#23d513bf7f11
Osterwalder, A., & Pigneur, Y. (2013). Business model generation. Hoboken, N.J.: Wiley.
Pandey, A. (2016). Social entrepreneurs: Their motivations, challenges, and
contribution. JIMS8M: The Journal of Indian Management & Strategy, 21(2), 12. doi:
10.5958/0973-9343.2016.00010.7
Ted Turner. (2008). Retrieved from https://www.entrepreneur.com/article/197562

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Appendix
SWOT assessment of TBS’s BMC
Strengths: Weaknesses:
 Wide viewership/customer base
 Young audience (20-54 years)
 Frequent innovations in news
 The visionary leadership of Ted
Turner
 Limited coverage for some stations
under the broadcaster
 Weak infrastructure in the emerging
economies
Opportunities: Threats:
 Possibilities of mergers and further
acquisition
 Potential growth in digital
advertisement
 Competition from other media giants
 Increasing communication
regulations
Key
Partners
Key Activities Value
Proposition
Customer
Relationshi
ps
Customer
Segments

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 Time
Warner
 Universal
Wrestling
corporati
on
 New Line
Cinema
 Hanna-
Barbera
Productio
ns
 Cable
Music
Channel,
 Atlanta
Thrasher
s
 Sport
South
 Film
Production
 News
coverage
 Live sport
coverage
 Cable and
Satellite
TV
services
 Real-time
news
 Personalize
d
Entertainm
ent
 Advertisem
ent and
product
promotions
through
different
media
channels
 Philanthrop
y services
to the
community
 Online
streaming
of channels
 Broadca
st-house
commun
ity and
forums
 Faceboo
k live
streams
 Twitter
discussi
ons and
help.
 Social
events
 Ordinary
US Citizens
 Internation
al
communitie
s
 Businesses
in need of
advertisem
ents
 Film and
Movie
Producers
Key
Resources
 News
anchors
 Presenters
 Editors
 Programm
ers
 Technical
staff
 Sales and
marketing
teams
 Support
services
teams
Channels
 All
Social
Media
Platform
s
 Social
gatherin
gs
Sponsor
ed by
TBS
Cost Structure
 Maintenance
 Research and Development
 Re-engineering existing channel
programs
 Advertising and Promotional
events
 Administrative costs
 Corporate social responsibilities
Revenue Streams
 Advertisements
 Broadcasting rights
 TBS affiliated programs

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Business Model Canvas for TBS