A company that I consider to be entrepreneurial is Facebook, a company that started out with nothing but codes and becoming a social network with over 800 million users as of September, 2011. This company exhibits various entrepreneurial characteristics:
1. New Innovation: An entrepreneurial business has to have an innovative product/service. Facebook was the first social network to base service on the personal lives of users, allowing them to stay connected and up to date with friends.
2. Innovation that Grows: An entrepreneurial business’ innovation has to grow. The time it took you to read this sentence, Facebook already has 50 new users. That’s a fast growing innovation.
3. Losses/Risks: Mark Zuckerberg, founder of Facebook, went through difficulty to get where he is today. He got suspended from Harvard University for invading personal privacy, he was sued for stealing the idea, he had to lay off best friends, etc. The creation of Facebook is very controversial which you should read on. Zuckerberg also took risks by rejecting Microsoft and leaving Harvard.
As you can see, an entrepreneurial business is one that pioneers with an innovative product/service not knowing where it will lead the business.
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