...Entrepreneurial Leadership Strayer University Contemporary Business BUS 508 xxxxxxxxxx xxxxxxxxx Entrepreneurial Leadership When you think about entrepreneurial leadership what is the first thing that comes to your mind? Entrepreneurial leadership is organizing a group of people to achieve a common goal using proactive entrepreneurial behavior by optimizing risk, innovating to take advantage of opportunities, taking personal responsibility and managing change within an active environment for the benefit of the organization. Entrepreneurial leadership is effectively by using the skills associated with successful individual entrepreneurs and applying those within the environment of the larger organization. This especially means within a business where those skills have been lost and replaced with a corporate mindset that focuses on process, systems and risk minimization rather than entrepreneurial behavior. A great example of entrepreneurial leadership would be Five Guys Burgers and Fries. Five Guys Burgers and Fries were founded in 1986 by the Jerry and Janie Murrell and their sons. The company came about when their two oldest sons decided not to go to college, so their parents decided to take their college fund to open up a tiny hamburger take out shop in Arlington, Virginia. Amazing after franchising in 2002, Five Guys grew significantly ranking #7 in the growth survey which was done this year. Five Guys franchise grew to around 570 in the United States and...
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...An Analysis of Entrepreneurial Leadership on Five Guys burgers and Fries. Assignment 1 By: STUDENT NAME: Rodino Wright TO: Dr. Evangeline Jefferson Professor: COURSE NAME: BUS 508: Contemporary Business STRAYER UNIVERSITY WASHINGTON, DC October, 2012 Introduction The purpose of this project is to examine Entrepreneurial Leadership at Five Guys burgers and fries. According to Boones and Kurtz (2012), business can be defined as all profit-seeking activities and enterprises that provide goads and services necessary to n economic system. (pg. 5). Likewise, according to Boones and Kurtz ) 2012) , Entrepreneur is defined as a person who seeks a profitable opportunity and takes the necessary risks to set up and operate a business. Leadership, according to Boones and Kurtz (2012), is defined as the ability to direct or inspire people to attain certain goals. (Pg. 233). From these terms we will try to create a meaning for the terms Entrepreneurial Leadership. However, according the Fernald, Solomon and Trabishy (2005) , Entrepreneurial Leadership deals with concepts and ideas which are often related to problems that are not of an organizational nature. As a result, in the upcoming project, I will discuss how these factors, in relation to Five Guys Burgers and fries. How does Five Guy philosophy sets it apart from other fast-food chains? After evaluating the reading, I think Five Guys philosophy was to concentrate solely on food and serve freshly made food...
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...Entrepreneurial Leadership Courtney Sapp Benjamin Bao Bus-508 Contemporary Business October 27, 2013 Entrepreneurial Leadership Five Guys Burgers and Fries is one of the fastest growing fast-food chains in the world today. They pride themselves on serving fresh made to order burgers and fries to their customers. Five Guys Burgers and Fries were started in 1986 by the Murrell family. The first location, which was a carry-out burger joint, was opened in Arlington, VA and the company has now expanded to over 1000 locations nationwide and over 1500 units in development over a span of 20 years (Five Guys Burgers & Fries, 2012). According to the CEO of Five Guys Burgers and Fries Jerry Murrell, he said “anybody can be successful in the restaurant business if you serve a good product, (have a) friendly and clean atmosphere and reasonable price, (Joiner, 2012).” Five Guys Philosophy Five Guys Burgers and Fries have several characteristics that set it apart from other fast-food chains. One of the biggest things is the company’s focus on providing excellent customer service. The mission of Five Guy’s Burgers and Fries was to serve the best burger possible and to ensure each customer knew that they were important to the success of the company. Five Guys Burger and Fries also ensured their customers understood that the company depends on them and their allowance to serve them great food. The franchise refrains from using frozen meat and only uses fresh ground meat. This...
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...Running head: Assignment #1 Entrepreneurial Leadership Assignment #1 Entrepreneurial Leadership BUS 508 Contemporary Business Assignment #1 Entrepreneurial Leadership Determine how Five Guys’ philosophy sets it apart from other fast-food chains. Five Guy’s is set apart from other fast-food chains by the history of its origin. Since the company started in 1986 the owners the philosophy was to work out all the details of how to not only create but yet serve the best hamburger and fries. Five Guys uses only the freshest ingredients’ to cook and serve to its customers. In comparison with other fast-food chains in the market place today only two can compare but not surpass the Five Guy’s philosophy. The first fast food chain Wendy’s was created in a similar fashion. In 1996 several years later the first Wendy’s was opened. It philosophy was to also to sever fresh not frozen beef and to be cooked as ordered. This was similar to Five Guy’s however the freshness part was not taken to the same level. Wendy’s used store purchased produce and buns. Five Guys take the freshness to another level of baking the buns they used. The orders were cooked to order but with Five Guy’s you might get your burger a few moments later then Wendy’s but the taste was worth the wait. Customers did like the flavor of the food at Five Guy’s and would often be heard it was worth the wait. Five Guy’s best philosophy was that it went out into the community to local vendors and suppliers...
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...Entrepreneurial Leadership Trenna Green Dr. Jean Fonkoua Business508 Contemporary Business October 28, 2013 This paper evaluates five published reported articles and the results are based on research organized from various resources including my personal analytical opinion about entrepreneurial leadership. Organizing a group of people to achieve a common goal using proactive behavior by optimizing risk, innovating to take advantage of opportunities when it presents itself, taking upon your own personal responsibility and managing change with a dynamic environment whereas the organization benefits as a whole, is one way to define entrepreneurial leadership. Based upon the readings and research I found you will see how the entrepreneurial leadership is illustrated in Five Guys Burger and Fries family owned business. During the 1980’s and 1990’s the Murrell family continued to stick to and perfect their simple system. Five Guys would be the go to place to get a fresh juicy burger along with fresh cut fries and all the fresh toppings of your choice, stuffed all between fresh baked hamburger buns. Murrell realized that in order to compete with the fast-food chains, Five Guys must concentrate strictly on food. The meat for the burgers---80 percent lean---is always fresh, never frozen! Burgers are made to order, with a selection of 15 free toppings including grilled mushrooms, barbecue and hot...
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...Entrepreneurial Leadership Trenna Green Dr. Jean Fonkoua Business508 Contemporary Business October 28, 2013 This paper evaluates five published reported articles and the results are based on research organized from various resources including my personal analytical opinion about entrepreneurial leadership. Organizing a group of people to achieve a common goal using proactive behavior by optimizing risk, innovating to take advantage of opportunities when it presents itself, taking upon your own personal responsibility and managing change with a dynamic environment whereas the organization benefits as a whole, is one way to define entrepreneurial leadership. Based upon the readings and research I found you will see how the entrepreneurial leadership is illustrated in Five Guys’ Burger and Fries family owned business. During the 1980’s and 1990’s the Murrell family continued to stick to and perfect their simple system. Five Guys would be the go to place to get a fresh juicy burger along with fresh cut fries and all the fresh toppings of your choice, stuffed all between fresh baked hamburger buns. Murrell realized that in order to compete with the fast-food chains, Five Guys must concentrate strictly on food. The meat for the burgers---80 percent lean---is always fresh, never frozen! Burgers are made to order, with a selection of 15 free toppings including grilled mushrooms, barbecue and hot sauce, and jalapenos. The buns are toasted...
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...Five Guys has the Right Combination for Success Strayer University BUS508 Dr. Peter DeDominici August 14, 2012 Five Guys has the Right Combination for Success According to the Five Guys website, Five Guys Burger and Fries (Five Guys) started humbly with one restaurant owned by Jerry Murrell and his family back in 1986 and is now being called one of the largest fast food businesses with over 1,000 locations in the United States and Canada today (www.fiveguys-about Us). Five Guys’ successful model of entrepreneurial leadership included a passion for a good idea, hard work and experiences to build a burger business in the fast-casual dining industry. Jerry Murrell shared his vision and values to his customers through suppliers, employees and now franchisees in a way that has allowed the company’s popularity to soar. To determine how Five Guys’ philosophy sets it apart from other fast-food chains I needed to understand the difference between fast-food and fast-casual dining. In the last several years I noticed that fast-food restaurants like McDonalds and Wendy’s have improved their décor and menu choices. Sanburn (2012) indicated that fast-food restaurants were redefining themselves just to compete with a fast-casual restaurant (like Five Guys). Darren Tristano, executive vice president of Technomic was quoted saying, “Fast casual has raised the bar. When your competitors are doing this, you don't want to lose relevance" (Sanburn, 2012, p.60). I concluded that fast-casual...
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...Assignment 1: Entrepreneurial Leadership BUS 508 Taura Boykin July 22, 2012 Dr. Ann Pohira-Vieth Assignment 1: Entrepreneurial Leadership Determine How Five Guys’ Philosophy Sets it Apart From Other Fast-food Chains Five Guys follows the philosophy of focusing on a few items, and serving them fresh to order. Five Guys is not your typical fast food chain for a number of reasons, one being that they limit their menu. Five Guys serves burgers made to order, which are fresh and never frozen (Boone & Krutz, 2012). Customers can customize their burger with a choice of 17 free toppings such as ketchup, mustard, and jalapeno peppers. The buns are toasted on a grill for better taste, rather than in a bun toaster. The potatoes for the fries are grown in northern Idaho, and are cooked in peanut oil (Boone & Krutz, 2012). Although they may not have a drive-thru, Five Guys offers a sit down restaurant in a warm, clean environment. Analyze the Original Values for the Start-up Company and How it Remains Strong Today Values of a company play a very important part in establishing a business in today's competitive market. The first Five Guys Burgers and Fries opened in Arlington, Virginia in 1986 by the Murrell family (Five Guys’, 2011). The family opened a carry out burger joint in Arlington, Va., that served hand formed burgers and fresh cut fries cooked in pure peanut oil. The Murrell family wanted to provide good food and to keep it simple. The founder of Five Guys believe if...
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...Entrepreneurial Leadership Susan Chism Dr. Beck BUS508 25 July 2013 Entrepreneurial leadership is organizing a group of people to achieve a common goal. This paper will take a look at how Five Guys’ philosophy sets it apart from other fast-food chains, analyze the original values for the start-up company, how it remains strong today, enumerate three (3) factors that contributed to Five Guys’ success in a short time and what effect, if any, external markets had on these factors while assessing how ethical and social practices are part of this corporate culture. The Five Guys philosophy that if you're going to sell hamburgers and french fries in a restaurant industry that is crowded with hamburger-french-fries chains, you'd better do hamburgers and french fries better than anyone else. In these economic times of do more with less the owners of the Five Guys restaurant chain have obtained great success by keeping it simple. This simplicity was and still is guided by the operating principles of the company’s philosophy that if you're going to sell hamburgers and french fries in a restaurant industry that is crowded with hamburger-french-fries chains, you'd better do hamburgers and french fries better than anyone else. It is this brought them the success that they have attained. 5 concepts/ways of doing business that have proven to be successful for this company is the founding actions that are the foundation of the company’s philosophy. -Best salesman is the customer...
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...Running head: “Entrepreneurial Leadership” Assignment 1: “Entrepreneurial Leadership” Abstract This paper will show the analysis of how successful this business has been setting itself apart from other fast food chains in relation to their philosophy, their original values as a family run business all the while giving contributions of success. You will see how the ethical and social practices of this family business as paved a customer appreciated restaurant of today with old fashion hard work and common sense. Assignment 1 – “Entrepreneurial Leadership” Determine how Five Guys’ philosophy sets it apart from other fast-food chains? In today’s fast food market chains businesses have to focus more on nutrition as well as making profits. Today within our health conscience world we now live in and with all the media hype about overweight people in the United States fast food chains need to really market themselves in a way to stand out above others in order to compete. Although the number one goal of any business model is to maximize profits and minimize costs in order to meet shareholders expectations as well as growing the business to maximize profits they now have to be thinking of creative ways to grab the customers and make them feel they are making a well educated guess in eating healthier even though it is still considered fast food. The Five-Guy business model has really been creative in certain ways to capture this. The owner Jerry Murrell believes...
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...Assignment 1: Entrepreneurial Leadership Sara J Broderick Dr. Kathleen Irwing BUS: 508 Contemporary Business Strayer University Oct. 22, 2013 Entrepreneurial Leadership Five Guys’ Burgers and Fries, a family owned franchise is one of the fastest growing chains in America (Better Burgers Starts to Sizzle in Canada, 2012). Five Guys’ Burger and Fries sets itself apart from other fast food chains by using quality ingredients and keeping a constant core menu. Jerry Murrell, founder and owner says the business plan from the start is still the business plan today. “Sell a really good, juicy burger on a fresh bun. Make perfect French fries. Don't cut corners.” (Welch 2010) There are advantages to a family-owned business that give Five Guys’ Burgers and Fries unique edge. Also, Five Guys’ Burgers and Fries focus on the customer has helped their marketing efforts tremendously. Murrell’s philosophy for the successful franchise is different then most fast food franchises in that the focus is on quality food. Many fast food franchises serve frozen beef patties and dehydrated frozen fries. Five Guy’s Burger and Fries actually soaks their fries in water, then pre-fries them forming a seal so that when they get fried a second time, they don't absorb any oil -- and they're not greasy. (Welch 2010) Five Guys’ Burger and Fries also differs from other food chains by keeping the core menu. Murrell doesn’t want to serve subpar food so they stick with a limited menu and execute it...
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...Entrepreneurial Leadership By Latrece Hart Instructor: Dr. Etido Akpan Business 508 – Contemporary Business January 27, 2013 What started out as a simple beginning has become a successful venture. Jerry and Janie Murrell told their children they either had to go to work or go to college. Five Guys Burgers and Fries, named for the owners’ five sons, was the brain child of two parents, Jerry and Janie Murrell, whose two oldest sons decided they would rather run a business than go to college. They found the best way to compete in the fast food world would be to center their concentration on the food. It’s with this simplistic viewpoint that Five Guys has become one of the fastest growing chains in the fast food industry (Boone & Kurtz, 2012). Determine How Five Guys’ Philosophy Sets It Apart From Other Fast-Food Chains Five Guys’ philosophy is simple. They want to sell the best quality burger of all fast food chains. In order to do that, their philosophy has been to stick to the basics. The menu remains the same, mainly burgers and fries. The burgers are fresh and handmade, never frozen. The French fries are hand cut as well (Burke, 2012). There are no freezers, only coolers. The customer can also see their burger being made once they place the order. The family has tried to add new menu items to their men, but quickly removed them from the lineup, deciding to stick with the formula that has kept them successful which is original burgers and fries...
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...Entrepreneurial Leadership Salednika McKenzie Contemporary Business October 28, 2012 Professor Rhonda Evans Strayer University Describe how Five Guys’ philosophy sets it apart from other fast food chains. Five Guy’s philosophy sets apart from other fast food chains because of their ideal burgers. “Five Guys goal is to sell the best quality burgers possible. To sell the best burgers possible they focus on quality, service, and cleanliness”. (Elan, 2007) When a customer leaves Five Guys the aim is for them to really find the products and services irresistible. The high quality food does all the talking. Another way they differ from other food chains is they don’t invest a lot into advertising. York (2009) points out that Five Guys’ invest in an intensive secret shopper program where restaurant crew members can earn additional pay by getting high scores from secret shoppers. Also, a wide variety of topping choices for their burgers is offered. Welch (2010) explains how they “prepare their fries by soaking them in water so that when the fries are pre-fried, the water boils forcing steam out of the fry”. While visiting Five Guy’s Burgers and fries for the first time back in 2003, during a brief conversation with the friendly cashier, I was amazed to find out that they use coolers instead of freezers. The truth is, I had never heard of that being done before in a restaurant. Another thought that I have that makes Five Guys’ different from other food...
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...Entrepreneurial Leadership Contemporary Business 508 Entrepreneurial Leadership When most Americans think of fast food burgers they think of long time successes like McDonald’s, Burger King, and Wendy’s but Jerry Murrell and his five sons have been trying to change that since 1986. And depending on who you ask, some might say that they are doing just that. Murrell and family started “Five Guys Burgers and Fries” at a Virginia shopping center with just one restaurant and an initial investment of a little less than $70,000 (Burke, 2012). Now the company has grown and franchised to over 1,000 stores and is worth close to an estimated $500 million (Burke, 2012). Many think that a burger and fries are simple but it is no accident that they have become a successful burger chain. Five Guys Burgers and Fries has a unique business model, philosophy, and culture that are a credit to their success, and understanding and examining these things can help any entrepreneur pave the road for success of their own business. Five Guys’ philosophy The Five Guys philosophy is to keep the business strategy simple, sell burgers and fries, while implementing quick and crucial cooking procedures that result in a quickly delivered but juicier, more upscale burger than other restaurants like McDonald’s (Rosenwald, 2006). The simple menu for Five Guys burgers has just that, burgers and fries...
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...Entrepreneurial Leadership Writing Assignment 1: Five Guys Entrepreneurial Leadership “Five Guys Burgers and Fries: Ingredients for Success” Five Guys Burgers and Fries has become a major contender for the forefront of the fast food market. The Company was founded by the Murell brothers in 1986 in Washington D.C. They created a fast food chain that quickly grew to become one of the largest revenue producing chains and franchises in the country. Five Guys was created with a very simple plan that has helped to set it apart in the fast food business. The founders adopted a philosophy that at the time was a leader on the fast food market. They created the business on the philosophy of “Sell a really good, juicy burger on a fresh bun. Make perfect French fries. Don’t cut corners” (Boone, 2012) This philosophy was extremely simple and helped to guide the future of the business. Five Guys puts extreme emphasis on providing the highest quality of food possible for the customer. The company uses grass fed 80% lean beef for their burgers. They also never freeze the meat. Everything that is prepared at the restaurant is fresh. The company spends extra money on quality ingredients such as Idaho Potatoes, and even takes the extra effort to prepare them in a way as to minimize the amount of oil the fries absorb when being made. Five guys have also followed the mentality that the customer will be the company’s best salesperson. The typical fast food chain spends 3% of revenue...
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