Identification of theoretical concepts that are relevant to issues discussed in case study
Eagle Boys Pizza was established in the year 1987 under the name of Dial-a-Pizza Australia Pty. Ltd. which was located in Albury, New South Wales. The CEO of the company Tom Potter was further able to take the company to a whole new level with the help of unusual type of marketing and business based tactics. The single store of the company was further taken up to a level of one of the biggest pizza based restaurant chain in entire Australia and New Zealand (Wipo.int, 2018).
The main aim of the report is based on the ways by which the company has been able to grow in the fast food industry with the help of unique market research based activities performed by the CEO.
The major concept which has been implemented by the CEO of Eagle Boys is based on the high rates of research and development which have been made by him. The experience which he had in bakery was an important factor that had been helpful for him. The idea which was implemented by Mr. Potter is based on development if drive-thru pizza based store in the year 1999. The increased competition levels were faced by the company with the help of differentiation of products that are offered to consumers (Galindo & Méndez, 2014).
Innovation is another major concept which has been implemented by Mr. Potter in the operations of Eagle Boys. The company had followed the process of continuous innovation which led to implementation of new processes in an effective way. The two pizza delivery box was a major innovation which was implemented by the CEO.
Branding is considered to be a major process which helps in development of the position of an organization in the industry. The organization has enjoyed high levels of brand recognition as well as loyalty in Australian food industry. The process of branding was facilitated in an effective manner with the help of innovative products (Sahut & Peris-Ortiz, 2014).
Intellectual property was also managed by Mr. Potter in an effective way with the help of secure Intellectual Property based rights. The formal protection of IP rights was able to provide the company with a tangible resource.
The concept of franchising has been the implemented for the proper expansion based operations of Eagle Boys. The process of franchising was helpful for the company to increase its presence in the fast food based industry of Australia and New Zealand without making huge amounts of investments. The franchise system which was developed by the company was highly effective and lucrative in nature (Pitt et al., 2015).
According to Drucker, (2014), the usage of the above discussed concepts have played a pivotal role in proper expansion of the company in the industry. The success of Eagle Boys was thereby based on the ways by which these concepts were implemented by the company in a consistent manner. The research and development based activities which were thereby performed by the CEO were quite different in nature. The uniqueness of the operating style of the CEO had been able to play a major role in the massive success of Eagle Boys in the industry.
Demonstration of the understanding of knowledge, skills and qualities related to successful entrepreneurship
Qualities need to be possessed by entrepreneurs
The entrepreneurs need some specific skills and abilities which can be helpful for proper development of position of their organization in the industry. The ten major qualities that need to be gained by successful entrepreneurs include, discipline, open mindedness, confidence, competitiveness, self-starter, determination, creativity, strong people based skills.
Skills, qualities and knowledge of CEO of Eagle Boys
The CEO of Eagle Boys Mr. Potter had been able to develop a unique position of the company in the fast food industry with the help of effective research and development related activities. The ideas which were implemented in the business were highly innovative in nature and the company had been able to differentiate its operations from other organizations in the fast food industry. The innovativeness and open-minded nature of Mr. Potter was an important characteristics based innovation related qualities of the CEO (Eftekhari & Bogers, 2015). The CEO had the competitiveness which led to the increase of number of stores in Australia and New Zealand with the help of franchise based process.
Factors that led to the success of Eagle Boys
The unique types of products and the business models had been the most important part of the success which was gained by Eagle Boys in the industry. The business models which have been used by the organization are unique and have been able to provide the organization with a different position. The breakthrough innovation based technology which has been implemented by the company is “drive-thru pizza”. The company has also aimed at providing prompt response to needs to consumers. The trends in the market were also followed by the company in an effective manner.
Contribution of innovation and entrepreneurship to success of Eagle Boys
As discussed by Garud, Gehman and Tharchen (2018), innovation has played a key role in the process of development of Eagle Boys Pizza in the fast food based industry. The organization had implemented the process of continuous innovation in the products, services and business models. Innovation had supported the levels of profitability which have been gained by the company in fast food industry of Australia. A major innovation which had differentiated Eagle Boys from other companies was the “two-tier pizza box”. Entrepreneurship based qualities of the CEO was also an important factor which led to the success of Eagle Boys in the fast food industry (Link, 2017).
Necessity levels of innovation and entrepreneurship for business managers
Entrepreneurship and innovation is highly important for the development of modern organizations in the fast food industry. The modern business managers and their innovative capabilities are important for effective development of the organizations. However, these two factors are not the only important qualities required by the managers. The leadership based capabilities of the managers are also important for proper development of organizations (Karlsson & Warda, 2014).
Other factors which contributed to success of Eagle Boys
The other major factors which have contributed to the success of Eagle Boys include, the branding of the company and levels of loyalty. The proper management of intellectual property have contributed to success of the company. Another major factor which had affected the operations of Eagle Boys are the franchise based activities of the company (Wipo.int, 2018).
Different approach which could have been taken by Eagle Boys
A different approach which can be taken by the company is based on expanding the reach of the products of Eagle Boys with the help of digital technologies. The company can think of developing the e-commerce platform in order reach a larger group of customers (Matthews & Brueggemann, 2015).
Conclusion
The report can be concluded by stating that the development of position of Eagle Boys in the fast food industry has been possible with the help of innovation and entrepreneurship based activities of the CEO. Mr. Potter has been able to take the company to one of the greatest fast food chains in the world. The unique marketing based tactics of the CEO and unique business model have been major factors which have contributed to success of the company
References
Drucker, P. (2014). Innovation and entrepreneurship. Routledge.
Eftekhari, N., & Bogers, M. (2015). Open for entrepreneurship: how open innovation can foster new venture creation. Creativity and Innovation Management, 24(4), 574-584.
Galindo, M. Á., & Méndez, M. T. (2014). Entrepreneurship, economic growth, and innovation: Are feedback effects at work?. Journal of Business Research, 67(5), 825-829.
Garud, R., Gehman, J., & Tharchen, T. (2018). Performativity as ongoing journeys: Implications for strategy, entrepreneurship, and innovation. Long Range Planning, 51(3), 500-509.
Karlsson, C., & Warda, P. (2014). Entrepreneurship and innovation networks. Small Business Economics, 43(2), 393-398.
Link, A. N. (2017). Ideation, entrepreneurship, and innovation. Small Business Economics, 48(2), 279-285.
Matthews, C. H., & Brueggemann, R. (2015). Innovation and entrepreneurship: A competency framework. Routledge.
Pitt, L., Berthon, P., Robson, M., & Prendegast, G. (2015). Does Corporate Entrepreneurship Influence Innovation in Service Firms?. In Proceedings of the 1997 World Marketing Congress (pp. 639-645). Springer, Cham.
Sahut, J. M., & Peris-Ortiz, M. (2014). Small business, innovation, and entrepreneurship. Small Business Economics, 42(4), 663-668.
Wipo.int (2018). A Glowing Delivery. [online] Wipo.int. Available at: https://www.wipo.int/ipadvantage/en/details.jsp?id=2690 [Accessed 3 Oct. 2018].
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