The Entrepreneurial Mind Set And I Have Chosen The...

Introduction to the Topic and Entrepreneur The topic for this essay is the entrepreneurial mind-set and I have chosen the Sanitarium Health and Well-Being Company to support my essay. In the following essay I will be analysing and discussing the chosen company in context with my topic. Brief Biography/Profile of Entrepreneur The Sanitarium Health and Well-Being Company which was founded in 1900 and is 100% owned by New Zealand. The company has factories all over the country and along with Sanitarium Australia, it employs approx. 1,700 employees in order to create around 150 products which includes vegetarian foodstuffs, soymilk, spreads and breakfast cereals. The company is owned by the Seventh-Day Adventist Church of New Zealand hence all the profit generated is utilized for charity, community work and humanitarian work around the country. Opportunity, Need, Invention and/or Innovation Involved Innovation: The term innovation generally refers to making a change or creating newer products and ideas or newer procedures which can result in the success of the company. Sanitarium utilises the innovation concept in various departments and ways. †¢ New Products: The most common form of innovation is creating a new product. Since Sanitarium is already a brand name which is well established and trusted, therefore any products launched by Sanitarium is guaranteed to be trusted by customers. The company has recently launched a new version of the world famous Weet-Bix. The company hasShow MoreRelatedSwot Analysis25582 Words   |  103 Pageshorses, later expanding into sheep-shearing equipment. Shaft Company In 1910, The Chicago Flexible electrical diversified into small appliances and, with the launch of the Princess electric iron, it laid the foundation for the small electrical appliance industry. The diversification strategy was aimed at offsetting the seasonal nature of the sheep-shearing industry. In 1914, the company purchased the Australian operation, and the company Cooper Engineering Co. (CEC) was born. Seven years later, in