Is defined as the capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit. Entrepreneurship is characterized by innovation and risk-taking. Entrepreneurs are ambitious and are always working to achieve higher levels of greatness. Since there’s no limit to what they can achieve, entrepreneurs constantly find themselves growing and achieving more than they ever imagined. When obstacles get presented in front of them, they find a way to work around then to get to their goal.
As serial entrepreneurs, the McDonalds went from being owners of a failed movie theatre to selling hot dogs, then earned local success with their burger joint. This shows us that the brothers took risks and didn’t let failure hold them back.
Entrepreneurs take the idea and execute on it. In the film we see how Ray takes his idea of expanding McDonalds and executes it to make this idea a reality.
Entrepreneurs are important because they create jobs and change. Entrepreneurs dream big so some of their ideas will make worldwide change. In this case McDonalds has spread across the world and is well known by everyone today.
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Entrepreneur traits include:
• Personal Accountability.
• Goal Orientation.
• Interpersonal Skills.
• Risk takers
• High levels of energy
In the film we can see real life examples of unethical behaviour, management of a business and entrepreneurship see how management of business can be difficult and that it’s not easy to start a business. We learn from the brothers that a lot of hard work and processes goes into a business. For example, the brothers spend hours rearranging their kitchen for the best productivity and it takes them 30 years of hard work and dedication to become a success.
Skills needed to be a successful entrepreneur and also shown in the film. We learn that we need to be focused on our end goal and to always take risk in order to get there. People who are standing in the way of your goal should never stop us from reaching it. We need to have skills to lead and motivate people in order to be successful.
We know that we need to make decisions keeping in mind our integrity and know what the right thing to do is, however this is not always the case. Ray acts in an unethical manner when he undercuts the brothers and doesn’t honour his handshake deal. Situations like these are present in the business world today and is important to be aware of. It also teaches us that we shouldn’t trust everyone when it comes to business and we should always look after our businesses for our best interest.
The Founder is about how McDonalds was expanded by Ray Croc and how it was pulled away from the brothers who originally started the business. The brothers buy a cinema in 1929 which fails however it allows them to learn from their mistakes and make McDonalds a success over 30 years. We see how the McDonald brothers were more concerned about the quality of their product and the customer experience by introducing McDonalds’ Speedee Service System, while Ray was more concerned about making money by growing the business.
We see the realities of starting a business and the hard work that goes into it. Scenarios in the business world are also shown such as the risks that Ray takes in order to reach his goal and unethical behaviour.