Research indicates that there are numerous traits that are expected to be present in highly successful entrepreneurs and the most common of them is the aptitude to learn from others. This report discusses how entrepreneurship and marketing have a great influence on businesses. The report will also be touching Dr. Sam Prince’s amazing social entrepreneurship skills that he/she uses to support his brand and its mission.
What does an entrepreneur do?
An entrepreneur engages himself/herself in the formation of new and innovative products. He/she adopts new approaches towards production, discovers new supply sources for inputs and new and different markets for outputs, builds innovative marketing means, and creates new systems for business organization. So, an entrepreneur involves himself/herself in the development of new functions for production, be it a new product or a new approach for developing existing products, instead of just a flexible response to external changes. Another trait of an entrepreneur is that he/she takes full advantage of the openings and opportunities he/she get. Moreover, he/she plays an essential role in coordinating and directing marketing activities. All of these traits are quite noticeable in Dr. Sam Prince, who despite of being a medical doctor was interested in opening a healthy Mexican cuisine. Though, he was inspired by American Tex Mex, he/she brought his own recipes by combining different kinds of ingredients and opened his first outlet in Canberra. Thus, at the age of 22 with just $13,000 in hand, Dr. Sam Prince gave life to his innovative business idea which he/she named as Zambrero.
Social entrepreneurship is a very contested and fluid phenomenon. Actually, in some meanings, it is an action field seeking a recognized institutional description. To a greater extent, the range of logics and discourses that portray social entrepreneurship mirror upon the self- legitimating and internal logics discourses of a wider range of leading actors energetically engaged in the development of the field. Therefore, social entrepreneurship, for government, is theorized as an answer to the failure of states in welfare provision; however, social entrepreneurship, for business is defined as a new market opening or an expansion of socially responsible venture. Nonetheless, in spite of its institutional flexibility, more than a few defining traits of social entrepreneurship can be recognized. Firstly, social entrepreneurship has a major strategic emphasis on environmental or social outcomes that will continuously supersede other managerial thoughts and reflections like profit maximization. Secondly, there is indication of origination and innovation in challenging normative outsets of a subject, in the developed organizational model, or in the services and products delivered. Lastly, there is a great stress on the measurement of performance and enhanced accountability allied with a persistent emphasis on refining the efficacy of organizational scale and impact and permanence of results.
Similarly Zambrero got into the Mexican cuisine business in the beginning and from then turned Mexican cuisine into the fastest growing trends in the food industry. Prince Sam’s main emphasis is people and he/she emphasizes on providing opportunities and educations to those who are in need it. His business ventures aid these charitable enterprises. Dr. Sam Prince, in these eight years has added a variety of new projects in his portfolio, that includes a non-profit, and carries on to stay deeply involved in the strategic direction of Zambrero, counting the business’s move towards overseas expansion.