While reading Edward Tung’s blog about a person he considered to be an entrepreneur, Oprah Winfrey, I felt compelled to respond. Coupled with our readings, Joel Primus, creator of Naked underwear, gave his definition of what he believes to be entrepreneurship. During our class discussion about entrepreneurship, it was evident that people have many different beliefs about what constitutes an entrepreneur. I agree with Edward’s categorization of Winfrey as the epitome of an entrepreneur. Winfrey gives meaning to my outlook, and evidently Edwards as well, on entrepreneurial behavior. Many young people grew up watching Oprah with their families. They watched as her career grew exponentially into what became her television network, OWN, and witnessed all of her philanthropic endeavors. The inspiration she instilled in these young males and females could possibly be attributed to the success of some aspiring entrepreneurs. I feel that this is a crucial characteristic entrepreneurs must embody, the ability to inspire others. While I agree with all other definitions provided, one key component I feel is important is the influence entrepreneurs have on others. A possible reason that the Comm 101 classes were gifted with presentations by various entrepreneurs, could have been to inspire students looking to start companies, or venture on their own path to success.

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Watch highlights from Oprah’s 25 years of inspiration: watch?v=o5Y9PrQirvA

The genius creator of Facebook, Mark Zuckerberg, was recently listed in Forbes’ 2011 billionaires as number 52. His success aligns perfectly with the definition of an entrepreneur. Categories taken into consideration when classifying someone as performing entrepreneurial ventures are: amount of wealth created, speed of wealth creation, risk, and innovation. Facebook has an estimated value of $82.9 billion by SharesPost Inc. Of this, Zuckerberg’s initial wealth increased to an estimated value of $17.5 billion. This value extends well beyond that of the definition’s several million dollars. What makes these numbers so astonishing is the speed at which they rose. Facebook was created in 2004, and within the 7 years of its commencement its value increased exponentially. This success however, was not attainable without some risk involved. As was seen in the film, “The Social Network”, law suits over where the idea for a social networking website originated were a barrier Zuckerberg was forced to overcome. The innovation behind his idea is unimaginable. Zuckerberg created a website allowing people to share the innermost aspects of their lives in ways never done before. The undertaking was no small feat; however, Zuckerberg was an instant success, and will forever remain a superb example of a modern day entrepreneur.

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An article in the Globe and Mail discussing the Musqueam first nation’s real estate development plans contained an example of long-term strategy. Currently, the Musqueam nation possesses vast areas of land, ranging from the 59-hectare University golf course with 9-hectares adjacent to it, to the Fraser Arms Hotel property in Marpole. Their primary focus is to develop a hotel on the 9-hectares beside the golf course. Mr. Campbell, the Musqueam Chief, recognizes the need to connect with the non-native community as the project gets underway.

The investment company, Aquilini, recently constructed 40 new residences on reserve land and now has its development manager working on the reserve for the next three years as an “in-house project manager”. Through having an office on the native reserve, Hoffman will create relationships and trust with the people, and favorably set his company up with the natives who are a nation commonly viewed as difficult to work with. Aquilini hopes that when it comes time to develop the project, they will be the chosen partner. This strategy of maintaining a good relationship and learning how to work in each others’ environments, will give Aquilini a competitive advantage for potential future projects over other organizations, and will give the Musqueam the non-native connection they desire.

Photo Links: Musqueam, Aquilini

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In our most recent class with Professor James Tansey, we discussed sustainability as an outcome. It is important that businesses address their “triple bottom-line”, which entails the economic, social, and environmental aspects of a companies actions that determines if they are considered a sustainable corporation. Focusing on environmental and social sustainability, I find interest in examining how companies moving into First Nations communities develop relationships with, and learn sustainable practices from the local Aboriginal people.

An example of these forms of sustainability being successfully implemented was the agreement made between the Maritimes & Northeast Pipeline and the Assembly of Nova Scotia Mi’kmaq Chiefs. This involved both groups agreeing to work towards common initiatives, such as placing concern on the impact the pipeline could have to certain areas, and having the Mi’kmaq people give cultural-awareness workshops to environmental inspectors. These workshops would be significant to inspectors as they looked towards implementing the pipeline in an environmentally sustainable way, while similarly upholding social sustainability by reassuring the Chiefs and community that their culture was being considered. Moreover, the pipeline set-up scholarships for native Mi’kmaq students with the intention of “build[ing] community capacity“.

Delta Cable, who among other things is currently working on providing television receivers to their customer, can attribute it’s success to being first in their category, a crucial factor in generating business. This theme is something we discussed in our class about marketing. Delta Cable was among the first in North America to broadcast 3D high definition movies and sports over their fibre network last year and through this, created a platform for future sales. It was due to the fact that they were well prepared and grabbed a position not heavily occupied, that consumers remembered their name, and bought their product. This generated enough support for them to continue improving. Advancing their product will prove to be very advantageous in the future, as 3D TV sales are projected to increase by more than 50 million units by 2014. They were aware that if their product was reliable, they would gain customer loyalty and ensure future business. Delta Cable is an innovative company, who seems to understand the influence that being first can make on consumer choice.

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While reading an article about the possibility of local television stations introducing a “TV Tax” to cable and satellite providers for their signals, which providers currently receive for free, I became torn between two contradicting arguments. Initially, I did not support the idea because I believed the tax would be imposed onto the subscriber. Although agitated by the increase in price, many people would continue to pay for TV as it is an enjoyable aspect of their lives.

However, as I continued to read on, the article stated that BCE, a Canadian “communication giant”, had promised not to place any of the excess fees onto it’s subscribers. Another argument, posed by Crull, was that local television channels “rely solely on advertising revenue” and that this advertising does not generate enough money to ensure the stability of local channels. If the promise made by BCE proved to be true, then the tax may not be a bad thing, but BCE is only one major provider and others may not have similar views. Both arguments prove valid points; however, I agree that the idea of TV tax may be necessary for the survival of local television stations.

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The globally recognized athletic wear company, Nike, is promoting the importance of woman’s education with a campaign known as the “Girl Effect”. The goal of the project is to improve the education of young women in developing countries. The hope is that these girls will learn the skills to become entrepreneurs, and in turn create the means to raise a family. While reading the article by the New York Times, I found it intriguing that even as the founders, Nike has opted not to have it’s name lent to the movement . This proves to critics that the social responsibility they are initiating, is not for promotional purposes. As a young woman in today’s society, who is a witness to the poverty that faces our world, I view any effort to mitigate the issue as ethical. This particular effort contrasts Nike’s history of unethical practices overseas, and instills hope that companies will soon begin to incorporate ethics in the workplace. In my opinion, even if the company has a past of unethical business practices, any effort to improve the lives of others is a cause which should be supported, not ridiculed.

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