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Entrepreneurship Economic Growth and Creation

Question:

Discuss about the Entrepreneurship Economic Growth and Creation.

Answer:

Introduction 

The Eagle Boys Pizza Company was founded in the year 1987 wherein the previous name of the organization was Dial-a-Pizza Australia Pty Ltd. The company was situated in New South Wales and the CEO of the organization named Tom Potter tried to bring the entire company to a brand-new level with the implementation of the different kinds of business and marketing related tactics (Wipo.int, 2018). The company first started with a single store and then they became the largest pizza restaurant in New Zealand and Australia as well. The aim along with the purpose of the report is to analyze the different kinds of techniques with the help of the different kinds of marketing techniques which has been performed by CEO of the Eagle Boys Pizza.

There are different kinds of concepts which are being implemented by the CEO of the organization by proper research along with the development which was done by him. The experience of the CEO in the different bakery related items and this is helpful for him for gaining success in the firm. Furthermore, the company was competitive in nature in the entire competitive market as there is differentiation of the different products which are being offered to the various customers in the entire market (Drucker, 2014).

Furthermore, the innovation is the main concept which was being adopted by the CEO of Eagle Boys Pizza Company in the different systems of the company. The respective organization tried to follow the continuous kind of process of innovation which helped in implementation of the different techniques in an appropriate manner. The delivery box of two pizza was one of the major innovations which was being implemented by CEO Tom Potter (Naranjo-Valencia et al., 2018).

Moreover, the branding is the other major concept which will assist in the overall development of the organization along with positioning of the organization in an efficient manner. The respective pizza company has enjoyed the huge level of the brand awareness and the brand loyalty in the entire market which helped them in providing the innovative kinds of products in the market effectively.

Franchising is the other term which was being implemented by the Eagle Boys Pizza Company wherein this has been seen that the company can expand their operations in various parts of the world through the usage of the different kinds of franchising. With the huge amount of investments, this will be beneficial for the company to become more lucrative in their aspect.

As per Eftekhari and Bogers, (2015), these are the different kinds of concepts which plays a major role in the overall expansion of the organization in the respective country. The Eagle Boys Pizza Company’s success are based on the various kinds of concepts which help in managing the overall effectiveness of the firm in an efficient manner. Furthermore, the overall research and development of the different activities are performed by the CEO are quite dissimilar in nature along with the uniqueness which will be helpful in managing the overall expansion of the company in a positive manner.

Demonstration of Understanding of Skills, Qualities and Knowledge Related to Entrepreneurship which is Successful

The different entrepreneurs required to have the different kinds of qualities which will be supportive in nature for the overall development of the entrepreneurs (Zhou, 2015). The major qualities which are required to be possessed by entrepreneurs are inclusive of being confident, self-starter, determining, strong skills related to individuals, proper competitiveness, proper creativity and open-mindedness is essential which will help in the overall success of the firm in an efficient manner.

With the proper research and development, the CEO of the Eagle Boys Company will be assisted in developing a proper along with unique position in the entire market. In the food industry, this kind of position is beneficial in gaining competitive advantage and be more competitive in nature.

The ideas which were required to be in inbuilt in the Eagle Boys company is innovative in nature and this has been able to differentiate the different kinds of products and services which are essential in becoming more successful in the organization (Edwards-Schachter et al., 2015).

With the help of innovativeness and open-mindedness of the entrepreneur, Tom Potter has been able to increase the overall effectiveness of the firm in an efficient manner. The CEO has huge competitiveness that has led to proper increase number of stores in Australia along with New Zealand with implementation of franchise process (Galindo & Méndez, 2014).

Factors Responsible for Success of Eagle Boys

There are different kinds of business models along with the various kinds of products which is the major part of the success of the company named Eagle Boys. The respective kind of business model which can be implemented by the company is unique in nature and this will help the organization in differentiating the different products in the entire competitive market. The innovation-based technology that was implemented by the organization is “drive-thru pizza” (Drucker, 2014). Furthermore, the organization has aimed at providing prompt response to the needs of the customers (Sahut & Peris-Ortiz, 2014). The trends in the overall market are followed by the company appropriately which will be essential in nature to manage the competitiveness.

Cañeque and Hart (2017), has commented and hypothesised that innovation is the major aspect which was undertaken by Eagle Boys in the entire industry of fast food. The respective company tried to implement the process of the continuous kind of innovation in the different kinds of products and services along with the business models. With the help of the innovative techniques, this has helped the organization in increasing their profitability and the differentiation technique of Eagle Boys Company which helped them in becoming more effective in nature wherein they introduced the “two-tier pizza box”. Lastly, the different qualities of the entrepreneur were the major reason for the success of the organization in an effective manner.

Level of Necessity and Entrepreneurship for Business Executives 

The innovation and entrepreneurship are essential for the success of the organization which related to analyse the different kinds of innovative kinds of capabilities for the success of the company. The different business executives along with innovative kinds of capabilities are helpful which are essential for the overall growth of the organization. The capabilities of the leader which is the decision-making skills and leadership-based activities are helpful in managing the different business operations.

There are different kinds of factors which have tried to contribute towards the success of the organization. This has helped in the success towards the proper branding of the organization and loyalty level as well. Proper management of intellectual property are contributing towards the success of Eagle Boys and the major factor which has affected the operations of Eagle Boys are franchise-based activities of organization (Malecki & Spigel, 2017).

The different kinds of approaches which have been adopted by Eagle Boys is the expansion of their operations with implementation of the different digital technologies wherein the company can develop the e-commerce platform which will help them in reaching to large group of customers in the entire market.

Conclusion

Therefore, this can be concluded that due to the innovative kind of capabilities and the decision-making capabilities of Tom Potter, this has helped the company Eagle Boys in gaining huge competitive advantage in the entire market. Eagle Boys is one of the largest pizza restaurant chains in the entire market and the unique marketing kind of techniques helped the company in becoming most successful in their approach in the business.

References 

Cañeque, F. C., & Hart, S. L. (Eds.). (2017). Base of the Pyramid 3.0: Sustainable development through innovation and entrepreneurship. Routledge.

Drucker, P. (2014). Innovation and entrepreneurship. Routledge.

Edwards-Schachter, M., García-Granero, A., Sánchez-Barrioluengo, M., Quesada-Pineda, H., & Amara, N. (2015). Disentangling competences: Interrelationships on creativity, innovation and entrepreneurship. Thinking Skills and Creativity, 16, 27-39.

Eftekhari, N., & Bogers, M. (2015). Open for entrepreneurship: how open innovation can foster new venture creation. Creativity and Innovation Management, 24(4), 574-584.

Galindo, M. Á., & Méndez, M. T. (2014). Entrepreneurship, economic growth, and innovation: Are feedback effects at work?. Journal of Business Research, 67(5), 825-829.

Malecki, E. J., & Spigel, B. (2017). Innovation and entrepreneurship. Elgar companion to innovation and knowledge creation, 625-637.

Naranjo-Valencia, J. C., Calderón-Hernández, G., Jiménez-Jiménez, D., & Sanz-Valle, R. (2018). Entrepreneurship and Innovation: Evidence in Colombian SMEs. In Handbook of Research on Intrapreneurship and Organizational Sustainability in SMEs (pp. 294-316). IGI Global.

Sahut, J. M., & Peris-Ortiz, M. (2014). Small business, innovation, and entrepreneurship. Small Business Economics, 42(4), 663-668.

Wipo.int (2018). A Glowing Delivery. [online] Wipo.int. Available at: http://www.wipo.int/ipadvantage/en/details.jsp?id=2690 [Accessed 3 Oct. 2018].

Zhou, J. (2015). The Oxford handbook of creativity, innovation, and entrepreneurship. Oxford University Press.

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