Entrepreneurial Leadership Essay

1149 words - 5 pages

Assignment 1: Entrepreneurial Leadership
Sara J Broderick
Dr. Kathleen Irwing
BUS: 508 Contemporary Business
Strayer University
Oct. 22, 2013

Entrepreneurial Leadership
Five Guys’ Burgers and Fries, a family owned franchise is one of the fastest growing chains in America (Better Burgers Starts to Sizzle in Canada, 2012). Five Guys’ Burger and Fries sets itself apart from other fast food chains by using quality ingredients and keeping a constant core menu. Jerry Murrell, founder and owner says the business plan from the start is still the business plan today. “Sell a really good, juicy burger on a fresh bun. Make perfect French fries. Don't cut corners.” (Welch 2010)  There are ...view middle of the document...

Murrell supported his son’s decision and they used their tuition money and opened a burger joint. A study on family-owned businesses by Sudeepta Pradhan suggests there are benefits to a family-owned business over privately owned and operated business. “Family owners can make decisions more quickly and be more flexible” (Pradhan 2012) Five Guys’ Burger and Fries is still led by Jerry Murrell, his wife Janie and their five sons. The seven Murrells make business decisions by a unanimous vote. The family meets every week to talk business. “The meetings can get boisterous. ‘We have soundproofed walls in the meeting room, and my office is on one side and Janie’s is on the other’ says Chad. ‘We don’t want the rest of the office hearing us go at it.” (Burke 2012) Murrell understands the importance of marketing. He says customers are your number one sales person. Murrell understands the importance of marketing "Treat that person right, he’ll walk out the door and sell for you."  (Welch 2010)
For a little less than $70,000 Murrell opened the first Five Guys Burger and Fries in Arlington, Va.  Now they have over 570 franchises. One factor contributing to their fast success is the understanding of the importance of customer service. Murrell says the best salesman is the customer. He believes that if you serve good food and provide good customer service, that customer will go tell their friends and family. This must be working since Five Guys’ Burger and Fries is now hitting the west coast. Another factor is the recession. Sounds odd, “but the recession ended up being a good thing for Five Guys Burger and Fries. They got better real estate for their restaurants and hired better employees from competitors. A former  Checkers executive is in charge of building new stores, and a former Burger King franchiser runs the Murrells’ 200 company-owned stores.” (Burke 2012) Another factor is fluctuating prices. Unlike other chains, if the price of supplies goes up, so does the cost of the burger. “We do not base our price on anything but margins. We raise our prices to reflect whatever our food costs are. So if the mayonnaise guy triples his price, we pay triple for the mayonnaise! And then we'll increase the price of our product.” (Welch 2010).
Five Guy’s Burger and Fries owner, Jerry Murrell realized from the beginning, in order to compete with the fast-food chains, the would have to focus on quality food....

Other assignments on Entrepreneurial Leadership

Entrepreneurial Leadership In The 21st Century

873 words - 4 pages Entrepreneurial Leadership in the 21st Century A Hybrid Theory/Philosophy of Entrepreneurial Leadership With changes in society’s, economies, and the widespread growth of technology, entrepreneurship and leadership have both grown to take on many different definitions over the past century. Economists and behaviorists have conducted numerous studies and researches over the past fifteen years, and new definitions of entrepreneurial

Leadership Case Essay

4002 words - 17 pages CHAPTER 4 Leadership Behaviors, Attitudes, and Styles The purpose of this chapter is to provide the reader with an understanding of basic leadership behavior and attitudes, as well as styles. Some of the information goes back to classic studies conducted in the 1950s and 1960s, and some is recent. Several other topics are featured: servant leadership, and how leaders use 360-degree feedback to fine-tune their behaviors, entrepreneurial


6300 words - 26 pages Assignment 1: Entrepreneurial Leadership Some consider Max Weber (pronounced VAA-ber) to be the father of sociology; however, he was also one of the earliest writers in the field of entrepreneurship. Weber viewed entrepreneurs as innovators, independent people whose role as business leaders conveyed a source of formal authority.   As Weber discussed, among other attributes, successful entrepreneurs must possess effective leadership skills

2 Guys

647 words - 3 pages Entrepreneurial Leadership Susan Chism Dr. Beck BUS508 25 July 2013 Entrepreneurial leadership is organizing a group of people to achieve a common goal. This paper will take a look at how Five Guys’ philosophy sets it apart from other fast-food chains, analyze the original values for the start-up company, how it remains strong today, enumerate three (3) factors that contributed to Five Guys’ success in a short time and what effect, if any

Women Enterpreneurship

3279 words - 14 pages creativity, innovation and self-employment, and may include the following elements: • developing personal attributes and skills that form the basis of an entrepreneurial mindset and behaviour (creativity, sense of initiative, risk-taking, autonomy, self-confidence, leadership, team spirit, etc.); • raising the awareness of students about self-employment and entrepreneurship as possible career options; • working on concrete enterprise projects


1312 words - 6 pages of people to combine the factors of production to produce a good or service < Kuratkao, D. F. and Hodgetts, R. M., (2007), Book -Entrepreneurship: Theory, Process, and Practice >. In economics, entrepreneurship combined with land, labour, natural resources and capital can produce profit. Entrepreneurial spirit is characterized by  risk-taking, and is an essential part of a nation’s ability to succeed in an ever changing and increasingly

Human Resource Management

2245 words - 9 pages Assignment – 01 Assignment Topic – Entrepreneurship is merely a special case of Leadership Name:M. M. Tamim Student ID: 11511633 Course Name: Leadership & Entrepreneurship Course Number: MGT 536 Course Instructor: Harpeet Kaur Entrepreneurship is merely a Special Case of Leadership In the worlds science & technology is very important for the people for continuing their activities. Besides business is the term which

Great Leader , Styles, Activites And Skills

2764 words - 12 pages CHAPTER 18. GREAT LEADERS: STYLES, ACTIVITIES, AND SKILLS I. PURPOSE AND TEACHING OBJECTIVES To present various findings on the styles of leadership and how they contribute to leader effectiveness; to relate implications from classic studies and modern theories of leadership; to discuss the research findings on leadership roles and activities, especially as they relate to successful and effective leaders; and to identify and analyze the


945 words - 4 pages contribute my leadership, interpersonal, and technical skills. My long-range career goal is to be the best information systems technician I can be for the company I work for.   See also this page of our Job Interviewing Tutorial.   3. How has your college experience prepared you for a business career? Sample excellent response: I have prepared myself to transition into the the work force through real-world experience involving travel abroad

Video Game Console Industry

1245 words - 5 pages 1. How attractive is the video game console industry in 2008? In 2008 the video game industry is dominated by three major players and their respective gaming consoles. First of all there's Sony with its PlayStation 3 launched by the end of 2006. Then there's Microsoft with its Xbox 360, launched in the end of 2005; and finally Nintendo with the "Wii" in late 2006. These three players are struggling to gain market leadership in the game console

Teams And Groups Paper

1089 words - 5 pages Groups and Teams University of Phoenix- Axia In today’s business society the difference between being a group and a team can determine the success of an organization. Teams play a major role in the success of organizations. Harvard Business School professor asserts that although individuals are important, teams are the central unit of entrepreneurial success (Sahlman, 2007). The fact is that teams and groups are the majority of the

Similar Documents

Entrepreneurial Leadership Essay

1305 words - 6 pages strategy suggests exploiting success from others by using “creative imitation” and “entrepreneurial judo” (Drucker, 1985). This strategy will require some authentic innovation to achieve success (Drucker, 1985). Leadership “Leadership is the art to of influencing and directing people in such a way that will win their obedience, confidence, respect and loyal cooperation in achieving common objectives” (Legacee, 2010). To be an effective

Entrepreneurial Leadership Essay

1211 words - 5 pages Entrepreneurial Leadership Demetrios Brooks Dr. Wanda Tillman Contemporary Business July 12, 2011 Entrepreneurial Leadership In today’s economy, who is the person that creates their own destiny? Entrepreneurs are the leaders who take matters in their own hands and create a perception on life that motivates within. They have the ability to adapt to virtually any situation that is put in their face. They confront challenge and

Entrepreneurial Leadership Essay

1702 words - 7 pages Entrepreneurial Leadership Entrepreneurial Leadership The contemporary highly-diverse business environments do not approve of the leaders that lack sufficient background, individual strategic vision (leadership style) and charismatic capacity to combine employee performances with the corporate goals. Regardless of whichever leadership style HR manager follows, he/she should permanently sustain high level of flexibility regarding HRM

Entrepreneurial Leadership Essay 1160 Words

1160 words - 5 pages interest the money invested.” (Embry, 2007) . In today’s market the new meaning of entrepreneurial leadership” is one of an enterprising, transformational leader who operates in a dynamic market that offers lucrative opportunities. Identifying today’s transformational leader consist of one whom has clarity, communication, and consistency. Also one who is caring, and constantly creates opportunities, and is always self-confident! This