Dr. Brian Collins
Contemporary Business (BUS 508)
April 15, 2012
Entrepreneurial leadership maximizes the chances of opportunities to improve market recognition and successful development of ideas to improve or create a product or a service. But what is the definition for Entrepreneurial leadership? According to Chris Roebuck, “entrepreneurial leadership is organizing a group of people to achieve a common goal using proactive entrepreneurial behavior by optimizing risk, innovating to take advantage of opportunities, taking personal responsibility and managing change within a dynamic environment for the benefit of the organization” (Roebuck, 2011, para.2). For this assignment I have been tasked with selecting two entrepreneurial leaders and describing their leadership style and business principles according to their approach to providing services or products; one in reference to providing services or products to make a profit; and the other in reference to their approach in which the primary goal is to make a positive impact on society while providing a product or service and make a profit. I have selected Jeffrey Bezos, founder of Amazon.com and Ben Cohen and Jerry Greenfield, founders of Ben & Jerry’s Ice Cream. Jeffrey Bezos
In 1994, Jeffrey Bezos left his successful job on Wall Street to follow his idea of selling books online; realizing that the busy individual would value the time and monetary savings by shopping online and therefore draw consumers to his site. Jeffrey brought his idea to fruition and launched Amazon.com from his garage. Within one month he had sold books in all 50 states and in 45 countries (Spiro, 2009). Today Jeffery Bezos in considered one of the founding fathers of e-commerce (Spiro, 2009) and Amazon.com is the leading online retailer with $37 billion in annual sales (Anders, 2012). From the beginning Bezos was focused on: making bold investment decisions for long-term profit rather than short-term profit considerations. He would spotlight long term profit by developing new ideas for innovation; focus on cash-flow; work hard to spend wisely and maintain a lean culture; and center on being customer focused (Bezos, 2010). In a letter to his shareholders posted on www.amazon.com, Bezos stated that “more innovation is ahead of us and we are committed to extend the leadership in e-commerce to benefit our customers and inherently benefit our investors” (Bezos, 2010). According to amazon.com, their mission “is to be earth’s most consumer-centric company where customers can find and discover anything they might want to buy online with low prices and fast delivery” (Bezos, 2010). Bezos has successfully created a positive customer experience by developing a website that allows the customer to create wish lists, write reviews, manage a one-click account, buy and sell used books and music, download videos and print books on demand. In the premise that the “customer is always right” Bezos has taken customer feedback and has created an easy to use website and established a system that figures out what the customer wants before they end the transaction thus creating more business (Anders, 2012). Moreover, Bezos has also created a number of metrics to measure and track performance against 500 measurable goals, 80% of them being customer related (Anders, 2012). Through this system, customer dissatisfactions can be tracked such as: customer website delays, arrival of defective items and out of stock products. The goal of this system is to decrease errors and as a result increase customer satisfaction and frequency in which they use the site. The University of Michigan American Customer Satisfaction Index rates Amazon.com in the top ten companies for customer satisfaction and number one for internet retailers (ACSI, 2012). To assure his company’s success Bezos concentrated his efforts in achieving long-term profit and...
References: David, L. (2011). Secretive private spaceship builder reports rocket failure.
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