Entrepreneurship is the process of making, creating, and managing a business to achieve the desired objective. Entrepreneurship provides innovations, imagination, and new ideas besides it, it provides good quality products and services at the lowest possible cost. Nobody is born like a successful entrepreneur or a good businessman, all of these experiences come from life, from the knowledge and all entrepreneurs following this function became successful entrepreneurs. Some people may work via life and don't pretty see the possibilities. After some life experiences, they see that they have a chance to become a good entrepreneur. However, if people are greater sensitive to seeing possibilities, they're more likely to act on them. A good example to illustrate it, one of the well-known companies in the world which are located in America. The name of the company is Hershey’s and it was created by Milton Snavely Hershey. He was an American entrepreneur and him popular like a confectioner. Hershey's is one of the largest chocolate company in North America because of excellent marketing methods. This company sells and markets to 70 countries and sells 80 brands of chocolates and candies. There are 80 brands and most of the classic candies. A strong brand helps the company to develop quality in society. Their goal is to reduce the weight of each wrapper to 0.05 grams because it adds 217.800 pounds to the cost of the product. The next goal is to increase the use of aluminum and save electricity in packaging and reduce the waste by 16 million pounds. Due to recycling the package of product, they are well in their way.
Management in business means to control and organize the activities to achieve objectives and Hershey’s company follows 5 functions in their management. They are:
Planning, is important for the future of the company and to make decisions and the plan of Hershey’s company is to make their own classic chocolate style and it should be lighter. Moreover, he is going to build more entertainment places around the company for tourists. 2 The second function is organizing, it is important to divide the works which to be done, by who is to do, how they work or tasks are grouped, who informs to whom, when the decision is to be made. On the whole, it involves designing, structuring, and leading the work components to achieve the organizational goal. Their direction is to create a new design of their product and to create unusual packaging.3 The third function is controlling, it is important to make a result and to work profitable. Also, it is important to keep the balance in the company. Hershey’s company, thy to improve the quality in a market economy that is why they control the quality of their product.5 The fourth function is staffing, it is the managerial function of management and it selects, improves, trains the promotion and compensation of the personnel. Hershey’s follows this kind of staffing. The fifth function is directing, it is a process when managers direct and control the workers or employees. Directing is said the heart of the management process. All these functions correctly assign responsibilities. Of course, it gives results and all of these functions affect to growth and success of the company.
One of the significant characters in business is to be a leader. Leadership is leading and acting a group of people to achieve a common goal. In business means directing the workers and co-workers to do something effectively. In “ Hershey’s “ leaders square measure a number of the foremost revered within the trade, delivering a spread of views and experience to the company in Their friendly collective quest to bring goodness to the globe. Together, they set and execute the strategy for Hershey, leading this century-old painting company into new markets, new classes, and continual reinvention and innovation. There are 9 leaders. One of the leaders who has been working for 17 years is Michele Buck. Buck has controlled many senior leadership roles among the corporate. Last, she worked as Chief in operation Officer, leading Hershey’s everyday North American operations and overseeing Hershey’s operations in Central and South America. Moreover, Todd Tillemans, President U.S., leads Hershey’s U.S. business as well as core confection, increasing portfolio across snacking and therefore the sales and go-to-market groups. He leads a cross-functional leadership team accountable for the delivery of the U.S. business. HR leaders at Hershey’s have a very sturdy international coordination, consequently, all methods are best created once. For instance, the agency has a brand new performance control device that it's developing for the sector, and then every area is turned into represented within it so that it can essentially healthy just any marketplace. This has allowed the company to save a large amount of time on walking through the stairs required in making the gear, by way of virtually focusing on making it a success.
One of the important sides of organizing a business is to find up its organizational culture, it includes shared values of the firm, traditions, cultures, philosophies, rules, and role models for behavior. The Hershey Company additionally has fantabulous leader development programs in Asia and America for a lot of junior leadership levels and globally for its senior leaders. The company believes that staff like to be a part of an area wherever they'll learn and grow. Today’s workforce desires to be related to firms that have an interest in their future. Hershey’s has additionally integrated the 70:20:10 model for learning and development for its staff. One will say, it’s exquisite expertise for its staff, UN agency get to figure on exciting new comes, that generally even lead them outside of their temperature, offer new dimensions of learning, of business, and of cultures on the far side the society they board. Hershey’s continues to produce such development opportunities to draw in and retain high talent. In addition to these, Hershey’s conducts systematic employee engagement surveys, to degree its organization branding effectiveness. It believes that an organization’s capacity to internally workforce its key positions, together with how a good deal a business enterprise has to take outside help to recruit outside people is a good measure of its business enterprise brand effectiveness.
According to the reports of industry sugar prices will decry this year but in it would be increased in the following year. Since sugar is one of the necessary ingredients for chocolates and candies that is why it affects Hershey’s besides it some people have a problem with sugar and fat which is treating future sales. Therefore, we recommend to Hershey change the pricing strategy to sell fewer sugar products or goods and sell more goods without sugar. Also, the company should increase the price of products that keeps more sugar inside and it does not affect the number of sales because they do not suffer from sales and already have their sales who consume it. There may be fewer sales but the profit should be the same. We recommend creating the chocolates or candies with different shapes or make unusually packing because when the sale see the chocolate in the market they will interest to buy it, namely, the chocolate should give attention to the chocolate especially this kind method important to children. Another idea, they can do stocks every month or every holiday it helps to attract the attention of people and from this, you can do more incomes.
We wholeheartedly believe that entrepreneurs are made, not born. Their passion and drive are crafted through an elementary shift that drives them to success. Once this elementary shift happens, they will work on his or her own till they reach their goals.
Nowadays, most people try to do their own business and turn out to be entrepreneurs, but not all people already know who they are and what they usually invest in. Entrepreneur's hobby is aimed at systematic earning. Not every person can become a successful businessman, because under him there is so much strength and effort. All people are born with an innate sense of motivation or pressure. Famous entrepreneurs like Miton Harshey have made their businesses enormous. This famous successful entrepreneur trained through the practice of their business. He shared the same successive qualities a good sense of innovation will survive a business from a crisis a make a leader its sector entrepreneurs will find opportunities for problems and innovations. Therefore, we could not say that entrepreneurs were born however entrepreneurs have obtained many experiences that have made them successful. Usually, they are guided by their internal instinct in making the necessary overall decisions, focused on intent in their approach, and have a good ability.