Donald Trump and Trump Organization
This paper gives a brief overview of Donald Trump and his style of management that led him to almost bankruptcy and back to the top of his game. Donald Trump’s management styles have made him rich, powerful, famous, and known throughout the world. This paper will discuss some of those leadership styles he employs with his empire.
Donald Trump is not only one of the world's richest men, but one of its most recognizable. Despite a privileged upbringing, he did not inherit anything, and went on to fame and fortune thanks to his business accomplishments and natural instincts. He is an American business executive, entrepreneur, television and radio personality, and author. He is CEO of the Trump Organization, a US-based real-estate developer, and founder of Trump Entertainment, which operates several casinos. “Donald John Trump, born on June, 14 1946, in Queens, New York, is the fourth of five children of Frederick C. and Mary Macleod Trump” (A&E Television, 1996-2012, n.p.). His father was a builder and real estate developer who specialized in constructing and operating middle-income apartments in Queens, Staten Island, and Brooklyn. Donald Trump states in his book “The art of the deal”: “The most important influence on me, growing up, was my father, Fred Trump. I learned a lot from him. I learned about toughness in a very tough business, I learned about motivating people, and I learned about competence and efficiency: get in, get it done, get it done right, and get out” (Trump, 1987, p.65).
In Donald Trump’s childhood years, he was drawn to business, was never intimidated by his father. He stood up to him and his father respected that. Their relationship was more of a businesslike one than anything else. In elementary school, Donald was very assertive and aggressive; he even punched the music teacher because he thought the teacher knew nothing about music. Back then he made his opinions known in a forceful way. The difference now is that he uses his brain instead of his fists. He was somewhat of a leader in his neighborhood as a kid, and today he is a leader of a successful organization. People either like him a lot, or they can’t stand him. When Donald Trump turned thirteen, he was sent to military school. He stayed through his senior year and learned a lot about discipline; how to channel his aggression into achievement. After graduating in 1968 with a Bachelor of Science in Economics and concentration in finance, he joined his father’s real estate business.
Starting in Trump Organization, he initially focused the way his father preferred to do business. By 1971, Trump began his own business in property development and hotel industry. Though his ventures were very successful, by 1989, the recession left Donald Trump unable to meet loan payments. In 1991 and into 1992, some of his businesses were forced to enter bankruptcy protection. By 1994, Trump had restructured financing and reduced his personal debts significantly. Finally by 2004, Trump Hotels and Casino Resorts announce restructuring of its debts and re-emerged from bankruptcy in 2005. Since 2003, Trump diversified into other areas of business with lucrative success. He is executive producer and host of the NBC reality show “The Apprentice” which he is known for saying “You’re fired”. With success in television and real estate he since has ventured into other products such as Trump Financial, Trump Restaurants, Trump Signature Collections, Trump Golf, Trump Magazines, Miss Universe Organization, and World Wrestling Entertainment. “The Donald” as he is so nicknamed, is popular for his extravagant, arrogant, cocky personality. “Part of his business tactics is media exposure. He stands out from others as he speaks his mind and will refuse your handshakes as he sees it as a barbaric gesture to hand out...
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