Boston Duck Tours Essay - 1613 Words

UNIVERSITY OF CAPE COAST COLLEGE OF HUMANITIES AND LEGAL STUDIES SCHOOL OF BUSINESS DEPARTMENT OF MANAGEMENT STUDIES NAME: KWAME ODOOM INDEX NUMBER: SB/SEM/15/0002 LECTURER: MR. F. O. BOACHIE MENSAH COURSE: STRATEGIC MANAGEMENT IN SMALL FIRMS ASSIGNMENT CASE STUDY â€Å"BOSTON DUCK TOURS† QUESTIONS 1. What is Andy Wilson’s primary motivation for leading an entrepreneurial life? 2. What kind of entrepreneurial venture is Boston Duck Tours? 3. Describe the competitive advantage of Boston Duck Tours. 4. What characteristics of successful entrepreneurs does Andy Wilson embody? ANSWERS 1. The primary motivation for Andy Wilson, the founder of Boston Duck Tours for leading and entrepreneurial life was the†¦show more content†¦These entrepreneurs start a company knowing from day one that their vision could change the world. They attract investment from equally crazy financial investors – venture capitalists. They hire the best and the brightest. Their job is to search for a repeatable and scalable business model. When they find it, their focus on scale requires even more venture capital to fuel rapid expansion. Steve Blank acknowledged that scalable startups in innovation clusters (Silicon Valley, Shanghai, New York, Bangalore, Israel, etc.) make up a small percentage of entrepreneurs and startups but because of the outsize returns, attract almost all the risk capital. Just like Blank’s Startup America, Boston Duck Tour, operating in hospitality and tourism industry, could be likened to a scalable entrepreneurial venture with a high level of prospect to scale up operations to have a wider impact on the tourism world. This is true as the case affirms that â€Å"Boston Duck Tours was only open for two months its first season. The next year, it carried almost 15 times as many passengers as it had the previous year, and tours were selling out every day. By the third year, the company was a well-established part of the city’s tourism industry, and those adversaries who had made things difficult at the beginning started embracing Boston Duck Tours.† 3. According to the Investopedia, â€Å"Competitive advantage is an advantage that a firm has over its competitors, allowing itShow MoreRelatedLife s Little Treasures Preschool1399 Words   |  6 Pagesculture and the land we live on through talks, dances, and tours in the gardens. We also have an organic herb and vegetable garden, grown and maintained by the children to educate and encourage them about healthy eating. 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