Review: Teresa da Silva Lopes & Mark Casson (Winter, 2007). Entrepreneurship and the Development of Global Brands: Business History Review 81 by The President and Fellows of Harvard College (Extract from page 651-680) World’s economy in early 1980s leaded to the merger wave in business industries. Only few independent brands have survived during that period. In the article, the authors addressed the question of why so few independent brands survived and they also aim to address about the contribution of entrepreneurs to the successful and growth of the companies. The authors also of demonstrated some well-known brands and their related case of how did the change in ownership affect the brand name. Summary:
Entrepreneurship and innovation is a competitive asset for each organization. In the past time, entrepreneur refers to the founder of the business, but the definition was expanded overtime. In the article, authors define entrepreneur as “someone who specializes in taking judgmental decisions about the coordination of scarce resources with an economic aim and under conditions of uncertainty.” This means that the entrepreneur is not necessarily a capitalist or the founder of a business, but is someone who is not afraid of risk and who “gets things done” and has an economic aim. Because of the changing in business environment, today entrepreneur has more skills, business related knowledge and capabilities in expanding their brand into different geography or internationally or rejuvenate it in order to keep the popularity and still make a profit. Brand is a powerful strategic tool to distinguish company from its competitors, communicate to customer and attract customer loyalty. A brand can have a rise, and then fall out of favor, to be out of date by the arrival of new brand. Trajectory of brands or the life of each brand is surely depends on the company’s performance and strategies they decide to take in action so as to create brand personalities...
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