entrepreneurship

Topics: Entrepreneurship, Soft drink, Limited liability Pages: 8 (2126 words) Published: November 29, 2013


ASSESSMENT SHEET
(to be completed by the examiner)

Title:
Defining entrepreneurship and the process involved in becoming a successful entrepreneur.

Assignment Topic:
Find two examples of entrepreneurship in your country or region, from your own experience or reading. The examples can relate to either big businesses or small businesses, or even public sector organizations.

1. Explain why you consider them to be examples of entrepreneurship, that is, which illustrates the definition of entrepreneurship the best? and, Why?

2. Which of the two examples best illustrates the principles of entrepreneurship? and, Why?

Executive Summary

This paper demonstrates two entrepreneurial ventures based in Trinidad and involved in the non-alcoholic beverage industry, Solo Beverages and S M Jaleel & Company Limited. It illustrates why these two companies are entrepreneurial and not considered small businesses.

A description of each organization is given and an illustration of which of these companies exemplifies the definition of entrepreneurship. S M Jaleel & Company Limited have shown to be the most innovative and successful in terms of profitability and growth, two key characteristics in the definition of entrepreneurship.

Contents

Introduction
Entrepreneurship is having the ability to manage, develop, organize and the readiness to go into a business venture. It involves taking risk with the aim of making a profit and being sustainable (Coulter, 2003).

Solo Beverages, formerly called Joseph Charles Bottling Works, dates back to early 1900’s when it was founded by Joseph Charles. The company is currently under the guidance of his son Ken Charles and grandson. At the inception, the company produced beverages in 12 ounce returnable bottles, these were washed, scrubbed and reused. Today, the company manufactures an assortment of soft drinks in various sizes to satisfy the diverse needs of its consumers (Solo Beverages, 2013). The company has established itself locally and also regionally, with its thirst quenching Caribbean Flavors and one of a kind Solo Apple J and Solo Bentley, in Trinidad, the phrase “chicken roti with a Red Solo” is as popular as “Burger with Fries”.

SM Jaleel & Company Limited, also dates back to the 1900’s and was founded by the late Sheik Mohammed Jaleel, and its only product was the soft drink (SM Jaleel Limited, 2013).The company has since evolved and now manufactures and markets juices, flavored water and energy drinks, with its signature product being “Chubby”, a soft drink marketed to kids.

What is Entrepreneurship?
“ Entrepreneurship is the process whereby an individual or group of individuals use organized efforts to pursue opportunities to create value and grow by fulfilling wants and needs through innovation and uniqueness, no matter what resources the entrepreneur currently has”, Coulter (2003, p.6). From its early days, in an old factory, Solo Beverages continually strived for improved quality and variety of its products offered to the populace, adhering to the characteristics of being an entrepreneur as opposed to a small business. Solo Beverages most innovative and sought after product is Solo Apple J. The company tried introducing other products Pear J, Orange J and Grapefruit J, but they were not as successful. Solo’s effect on the soft drink market is readily recognizable by its association of its products with local cuisine,” Roti with a Red Solo”. SM Jaleel & Company Limited, from inception, products has been developed to meet the continually changing environment and needs of consumers. The company’s’ marketing segmentation and target...

References: ‘Company History’, Solo Beverages, accessed June 3rd, 2013,
http://www.solobev.com
‘Chubby 2010’, SM Jaleel & Co Limited, accessed June 3rd, 2013.
‘Vision and Mission 2010’, SM Jaleel & Co Limited, accessed June 3rd, 2013.
http://www.smjaleel.net/history.php
‘Leadership 2010’, SM Jaleel & Co Limited, accessed June 3rd, 2013.
http://www.smjaleel.net/our-leadership.php
‘What Guides Us 2010’, SM Jaleel & Co Limited, accessed June 3rd, 2013.
http://www.smjaleel.net/what-guide-us.php
‘History & Timeline 2010’, SM Jaleel & Co Limited, accessed June 3rd, 2013.
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