BUS 508: Contemporary Business
Dr. Michael Hines
Assignment #1: Entrepreneurial Leadership
Submitted by: Aythea L. Jackson
Week #3 April 20, 2012
(1) Analyze and discuss 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.
Dropcam has a cloud-based Wi-Fi based video monitoring service that integrates with almost any device. The San Francisco based company was founded in 2009 and gives companies such as Panasonic and Logitech competition.
Greg Duffy co-founded Dropcam with the goal of building a camera that was simple to set up and allows you to watch video feed from anywhere in the world, from many devices. (Wang, Mommy Market 2012) The idea of the Dropcam was to enable parents to catch endearing moments away from their children such as the first steps, talking, etc. to take pictures and/or footage, share footage and also monitor of incidents/events taking place within the homes from locations near or far. His goal was to create something affordable and user friendly, while not compromising video quality. The method was enhanced with his co-founder Aamir Virani, a skilled software engineer he worked with at a prior company. (Linkedin) Duffy was asked during an interview “What have the most significant obstacles been so far to building Dropcam?” His response; “We have been confident in how we have gone about building and developing Dropcam. If we could do it over again, we would build the product and hire the people first. Building up the team as soon as possible is the key as a startup. All the people we want to work with are here now, but we wish we pushed for them earlier. Lesson learned: as you find good people, bring them in as fast and as early as possible.’(Word to Your Mother, March 2012) Duffy went on to inform the interviewer that he learned that lesson a little slower than his funding approach, which was led by Accel Partners (who also invested in social companies like Groupon and Facebook). Duffy’s biggest piece of advice to other companies looking to enter the hardware space is to take your time. “Don’t ship it before it is ready. We’ve been working on this for over a year and a half and didn’t tell anybody until now because we wanted to get it just perfect”, Duffy said. “It’s totally worth it, even if a couple prototypes are lost in the wild.” (Speaking with John Biggs, Speaking on the transition from hardware buyer to OEM, Techcrunch.com/2012/1/16 video interview)
Being “social responsible” means that people and/or organizations must have ethically and sensitivity towards social, cultural, economic and environmental issues. Increased awareness is placed not only in not just what is brought but how the product or services have been produced. Social entrepreneurship is fundamentally different from other forms of economic organizations. While our economic theories are based on the assumption of self-interested economic factors, social entrepreneurs exhibit behaviors inconsistent with this motivation. These (social) organizations operate in the pursuit of certain societal values.
(2) Analyze and discuss the founding leader(s), leadership style, and major business principles of a Social –responsible oriented entrepreneurial approach in which the primary goal is to make a positive impact on society while providing a product or service to consumers and to make a profit. Jody Sherman began his entrepreneurship after he left the military with various venture such as a car phone company in the Bay area, enterprise software and a computer distribution. He fell in love with the internet which led him to form several e-commerce companies and recently he owned a private jet company. Sherman sold his private jet business to virgin Airlines and began to focus on beginning a social responsible venture as he...
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