Own It: Oprah Winfrey Entrepreneur
Abstract
Entrepreneurship and its role in business is explored through a case study of Oprah Winfrey and as more specifically seen in her book "Own It" (Winfrey, 2017). The autobiographical novel explores her as a social entrepreneur, thus revealing many key attributes of a successful entrepreneur. These entrepreneurial behaviors include; communication, collaboration, innovation and creativity, risk-taking, and ethical responsibility. In addition, the definition of an entrepreneur is defined and linked with business and economic growth, with evidence from Oprah's own work.
Own It: Oprah Winfrey Entrepreneur
Entrepreneurship and its role in business can be seen most evidently in the work of Oprah Winfrey and her astounding career. Through analysis of her business and her life, the main elements of a successful entrepreneur can be seen. These include; communication, collaboration, innovation and creativity, risk-taking, and ethical responsibility. These factors when examined highlight the astounding contribution Oprah has made to entrepreneurship and in particular social entrepreneurship. By doing so Oprah has built many successful businesses and guided the growth of other businesses, causing not only social development but also economic growth.
Entrepreneurship has evolved over time, but it has always been identified as a major driving force of economic growth and development (Herbert & Link, 1989; Fuellhart and Glasmeier 2003). According to Schumpeter, entrepreneurs play a central role in an organization's ability to acquire knowledge and ideas not yet in use (Innovation Ventures, n. d). They also form new productions and functions to enhance opportunities for the business in the economy (Innovation Ventures, n. d; Herbert & Link, 1989; Kukoc & Regan, 2008; Robinson, 2015). By doing so, entrepreneurs help to establish the degree to which innovation contributes to productivity and, thus, economic performance and efficiency (Kukoc & Regan, 2008). Drucker states that innovation to improve an organization does not have to be purely technical and economical, but social as well (Innovation Ventures, n. d). Drucker asserted that entrepreneurial innovation could involve identifying and developing changes and opportunities that could offer both economic or social gains (Innovation Ventures, n. d; Dees, 2001). Social entrepreneurship is the process of recognizing and utilizing opportunities to create an approach the social values and needs (Dees, 2001). Social entrepreneurs such as Oprah Winfrey draw upon business and not-for-profit strategies in order to enhance social impact (Dees, 2001). Social entrepreneurs identify the most effective strategies to approach their social mission and vision (Dees, 2001).
The role of entrepreneurship, including social entrepreneurship within business, is not a new concept. For many years organizations have relied upon entrepreneurs to help establish profitabil...
