Analyze and describe the founding leader(s), leadership style, and major business principles of a profit-oriented entrepreneurial approach in which the primary goal is to provide a product or service to consumers and to make a profit. Profit-oriented entrepreneurs organize a business and assume risk for the sake of profit. The entrepreneur is out to make money, take risks and beat the competition (“Marken Communications”, 2010). These entrepreneurs are excited by the challenge of starting an organization, recognizing the business comes first and making it successful. Once profits are generated, the entrepreneur can make decisions about how the profits can be used- to expand the enterprise (Deji, 2012). Profit-oriented entrepreneurs will do anything to make a return on their investment, be it in ethical or non-ethical ways.
An example of a profit-oriented entrepreneur is real estate tycoon Donald Trump. Donald Trump possesses the ability to identify profitable ventures a mile away. His aggression and one-sided focus on being profitable are what allowed him to break down the existing barriers to obtain his goals of becoming successful as a developer, always keeping his sites on a right investment to increase his personal wealth (Trump, 2012). Trump's billion dollar investments include Trump Parc which contained more than 24,000 rental and co-op apartments, the Trump Shuttle Airline, ownership of the New Jersey Generals of the United States Football league, casinos in Atlantic City, Trump Castle, and his luxurious private homes (Trump). Trump’s leadership style is a participative style. Trump's public image is that even though he runs two companies which employ 22,000 people together, you never get the sense of an organization underneath him (Trump). It is easy to come to the conclusion that he's not only a sole proprietor but a sole employee because he participates among his employees. Both current and former employees describe Trump as a loyal but not especially well-paying boss, citing stories of birthdays remembered, and of sick relatives visited in the hospital (Trump). Many of his employees shrug at the popular perception of Trump as a one-man show but rather he is one of them.
Analyze and describe the founding leader(s), leadership style, and major business principles of a social-responsibility oriented entrepreneurial approach in which the primary is goal to make a positive impact on society (people, families, ecology, or similar) while providing a product or service to consumers and to make a profit.
Socially responsible entrepreneurs “recognize a societal problem and use business principles to develop innovative solutions and benefit humanity” (Boone & Kurtz, 2011, p. 184). They focus on solving society’s challenges through their businesses and by pioneering new ways to advance social causes, enhancing social welfare (Boone & Kurtz). The Schwab Foundation for Social Entrepreneurship defines social entrepreneurs as “Those who drive social innovation and transformation in various fields including education, health, environment, and enterprise development (‘Schwab Foundation,” n.d.). Sanjit “Bunker” Roy is prime example of a socially responsible entrepreneur. He brought education to those who would otherwise face the world of illiteracy in India. He founded the Barefoot College, and set up various branches in rural communities in India to provide free education to those who did not have access to it (“Financial-Inspiration,” 2010). Roy's Barefoot College has trained more than 3 million people for jobs in the modern world, in buildings so rudimentary they have dirt floors and no chairs (Mortensen, 2010). The college's "barefoot professionals" then return home to use their new skills — as solar engineers, teachers, midwives, weavers, architects, doctors and more (Mortensen). Roy combines humanitarianism, entrepreneurship and education to help people steer their own path out of poverty, fostering dignity and
