Just like the McDonald’s, two Emirati brothers came up with a similar idea and established a restaurant in Dubai which started operating in 2009 though their intentions were long thought. Though they had the idea for a long time, the initials costs of setting up the business was a challenge and they had to take time to plan themselves.
They set a business by the name ‘Wild Peeta’ that concentrates in making sandwiches of Shawarma depending on a customer’s requirement using different types of sauces and Peeta bread apart from making salads and desserts. Wild Peeta restaurant has expanded throughout the UAE as it successfully targets the retail market offering Shawras and other foods in their menu.
According to Duening (2009), entrepreneurship revolves around management of businesses or companies in a manner that is slightly different from traditional forms of management. Comparing the two approaches of management there are clear differences between traditional and entrepreneurial management and they include the following: traditional managers were closely monitoring the work of the juniors by assessing the effectiveness of the inputs, time members of staff are working, raw materials and financial budget while an entrepreneurial manager focuses on main concerns in the firm and use of the best talents and expertise.
This is due to the fact that modern markets are considering a wide variety of products and services. In traditionally managed firms, the manager delegates’ duties and responsibilities in a bureaucratic manner and all employees know their fixed roles. Reynolds (2007) argued that this is not the case in an entrepreneurial firm because the duty of the manager is selection of individuals and teams with respect to talent and creativity so as to provide innovative solutions to the market.
In a traditionally managed company, managers discuss and come up with ideas on how the company should run while entrepreneurial management, mangers act as facilitators and employees give propositions about external stakeholders, equipments to be used and systems to be used.
In a traditional firm, much effort was done to train managers to be leaders in the firm while entrepreneurial management advocates distribution of leadership in the entire workforce (Schumpeter, J. 2006). Furthermore, managers in a traditional organization had the duty of planning, but the main focus of an entrepreneurial manager is to come up with strategies that exploit market dynamics.
The two owners of the restaurant have portrayed entrepreneurial management skills as revealed by their involvement in the business sometimes doing the work of employees and serving customers as they inquire improvements that can be added to the business (Livingston, J. 2007, p.122).
Concerning independent entrepreneurship, the owners of this restaurant are highly motivated. There are factors that boosted the starting of this business and they include: first, the entrepreneurs of this business had a liking for food which was the biggest driver for them to set up the business in addition to benefiting the society, making profit and sustaining growth of the business.
Secondly, the owners of the business are engaged in activities of the business like cashiering, serving customers and preparing shawrmas, thereby, they create an opportunity to be in contact with customers and employees. Concerning risks, the owners of the company set up their business despite risk in the market that includes competition, goodwill and others.
Before the business was fully operational, the owners of Wild Peeta encountered failures that drugged their business idea to start after seven years which was majorly a challenge with finances. But with determination and focus, they managed to implement their business idea through assistance from Mohamed bin Rashid Foundation. Time orientation is a basic necessity in entrepreneurship, there must be short time for orientation, planning and future growth and changes that might occur (Shane, S. 2003, p. 44).
References
Duening, T. (2009) Technology Entrepreneurship. New Yolk: Academic Express.
Livingston, J. (2007) Foundations at Work. Berkeley, CA: Apress
Reynolds, P. (2007) Entrepreneurship in the United States. New Yolk, NY: Springer.
Schumpeter, J. (2006) The Economist. The Economist Newspaper. Web.
Shane, S. (2003) A General Theory of Entrepreneurship: The Individual Opportunity. Cheltenham: Edward Elga.