WestJet is considered an entrepreneurial company because it consists of four different characteristics which are distinguishable from a small business owner:
1) Amount of wealth creation
2) Speed of wealth creation
3) Risk
4) Innovation.
Founded in 1996 by Clive Biddoe, WestJet has risen quickly as a new company, thus successfully achieving a quick speed to wealth creation and created substantial wealth. Ever since its first flight, WestJet has grown from a fleet of three to an overall fleet of ninety six up to the present date. This speed is related to the amount of wealth creation as WestJet has stated that they have earned $2.2 billion CAD in passenger revenues up to 2009. In addition to WestJet’s ability to gain wealth quickly, risk and innovation assisted this swift growth as well. For example, the choice to fly only domestic routes is a risk taken by the company as domestic routes garner less revenue than international destinations. However, innovation techniques utilized by WestJet has been able to keep its customer satisfaction and public image positive. These techniques include participating in charitable activities and providing in flight service that is different from most airline companies. The willingness to take on risks and to continuously develop innovative ways of thinking have assisted the vast growth of WestJet as an entrepreneurial company throughout the years.
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