Cirque Du Sole Case study
Cirque Du Sole is a company that has built its success on its ability to be creative and innovative. After watching the video case, the lessons that we can take from Guy Liberate about how to be a successful entrepreneur Ariel . Mentality of taking risks: Guy Liberate took a great risk by challenging the established circus tradition. He gave a new dimension to circus industry which no longer uses animals. Rhea elaborate shows are expensive to start.
So there is always a risk involved in getting higher returns of invested capital. Creative and innovative idea: Cirque Du Sole is a company, which is all about reiterative and innovation. They have reinvented the circus, in their every performance they set up a standard of imagination and technology. They are still growing while many others are struggling. It is Just because they successfully developed a new market and continued to expand on that market.
This makes Cirque Du Sole an example of a company that has creativity and innovation at its base. 3. Utilization of business environment: Cirque Du Sole is now successful, because Guy Liberate utilized on the business environment.
The business Environment presents many challenges for Cirque Du Sole, as it does for any other business, but Cirque Du Sole succeeded to utilize the technological, competitive and social environment and made its way up. 4.
Stakeholder recognition: Like all organization, Cirque Du Sole has many stakeholders. They include the owners, employees and local community. But the organization is especially focused on the stakeholder group called customers. It Ants to put on the best show possible, and that means providing the best talent possible. To reach as many people, many of the shows go on the road.
One can even Match some of the performances on TV.
Neat are the some of the challenges and opportunities you see for Cirque Du Sole today’s dynamic Business environment? Like other business Cirque Du Sole also faces problem and they have to overcome the challenges and take the opportunity to increase their wealth and to grow. Rhea challenges Rhea challenges Cirque Du Sole is facing since its inception are: Expenses: toady’s circuses with their grand sets, expensive modern technology, and elaborate music can be economically risky ventures. But fortunately for Cirque Du Sole, this risk has been paid off.
The ground breaking Cirque Du Sole, a circus Introit animals entertains audience almost every day around the globe. Cirque wows are incredibly expensive to start; the sets and costumes costs money and Cirque must find the best acrobatic team to perform their stunning display.
But what makes Cirque so different is that, the unique ideas n knowledge its creators bring and the entire team is focused on their mission. The mission is to thrill people with new acrobatic skills. The perfect blend of technology, imagination and commitment has made this venture so successful.
Negative impacts on travel and tourism: even today’s modern economy is not safe from world events that negatively impact travel and tourism. Despite this fact Cirque Du Sole has maintained growth for two decades.
Ringing in the best performers: one of the important stakeholders of Cirque is their performers. They need well trained group of acrobats to run their show. They believe because of their remarkable talents they gather from all around the world is the key to their success. So they need to get greater care of their employees.
Cirque Du Sole IS very care full in making sure that there performers has everything that they need to be able to be happy and productive.
Entertaining the audiences: Cirque Du Soil’s greatest stakeholders are their audiences. So the always nave to come up Witt new assonating acrobatic, dance moves to thrill the audience. They also have to make sure what are they doing on the stage is unique. This feature of Cirque made them one of the most popular. Being one step ahead of all: because of today’s competitive market, Cirque Du Sole has to offer something that will outshine other companies and keep them on step ahead.
Opportunities In today’s dynamic environment, the opportunity of Cirque Du Sole expand: Cirque Du Sole has already earned a brand image around the globe and they are making the best use of it. They are growing while many other businesses even many their underpants are struggling. They started their business with few street performers, but at present they have employed more than 3000 people from around the world Utilization social environment: The social environment is also conducive to new business. The diversity of the U. S. Population has contributed greatly to the ability of the circus to find acts and recruit such acts from all over the world.
The ability of the organization to adapt too many cultures is shown by its success in various cities throughout the world. Utilization of technology: Cirque Du Sole has always emphasized on the use of technology. With the invent of new technology, they are coming up with new ideas and performances. How would you compare the excitement and fun of working for a new entrepreneurial venture like Cirque Du Sole with working for a large, traditional business?
What are the risks? The rewards? The challenges?? Opening up a new business, especially in the entertainment sector is always exciting. Or be successful in business you have to very y innovative and you have to have the mentality to take risks.
As for Cirque Du Sole, they did not follow the traditional way, they took initiatives to do something out of the box and now they are in the apex. En we are considering opening up a new venture in a traditional business, we must have in depth knowledge about the business and its criteria. We have to have a strategy or plan that will be help us grow.
Commitment, imagination and the blend of other necessary forces play pivotal role in the success of a new business enterprise. En ought to look for something new to attract people but we’ll have to make sure we are not going off the track from the root. Cirque Du Sole started off their Journey Ninth only a group o people, but now they’ve employed thousands of people.
These people came from different region of the world, they have their own identity and cultural view but now they are working as a group, as a unit. But they show their diversity in many different acts in different parts of the world.
When I’m going to be Morning for a venture like Cirque Du Sole, I’ll have to know many people who will come from different community, different view, Vive to adapt with the atmosphere. Meeting up people trot deterrent region is a tuna and doing something tort the entertainment will be exciting. The risks Risk is involved in every new venture. The risks we might face repose’s taste: for entertainment business, people are the greatest stakeholders.
We’ll always have to know the mass psychology. Our business will be based on what they like, what they Ant, and how they want. People’s taste varies from place to place.
So we need to have proper strategy to cope up with diverse people. Market competition: Another main factor is the market competition.
Before we start a new enterprise we must know what the competition prospect is. If the competition is too big, then we will have to try hard to make a place in the market and win a brand mage. That doesn’t necessarily say competition free market is always profitable. Competition in the market prompts all businesses to offer the best product possible. Career Risk: When an entrepreneur starts his or her own business they normally resign from their present Job.
If things go wrong it can be difficult or even impossible to resume a career. Business Environment: when we are starting a new business, we must know about the business environments. Business environments are all the surrounding factors which either help or hinder a business grow. We must have very DOD concept about social environment, competitive environment, technological environment and mostly the economic and legal environment. Without knowing how this factors work with or a against a business, there is always a higher chance of losing investment.
Rhea Rewards A successful business offers many rewards.
Some of them reproofs: fundamental objective of starting up a new business is profit. Profit is the amount of money that a business earns above and beyond what it spends for salaries and other expenses. Social Rewards: There is seldom a higher reward than making a positive difference to another person’s life. Entrepreneurship is already creating most of the new Jobs and Anneal in the world.
The successful business provides Jobs, pride and financial security for its employees. Personal wealth can also be used to make a difference to a family member, a friend, the community or any worthwhile cause.
Inning a brand image: If the business is successful, it will earn your company or enterprise a brand image. It will help your business grow. A business is always accompanied with challenges. You’ve to face the challenges to prosper in the business.
Innovation: people always seek for something new, something innovative. A challenge for an entrepreneur is to come up with creative things. Even in a traditional business {oh have to come up with innovative and original idea. Experience: Most entrepreneurs lack the experience of handling a business Independently.
Moreover, most people are not well equipped with the skills necessary to run a business.
Starting a new business requires much more than finding a cool product or service to sell. It also requires you to be adept at sales, accounting and planning to make the company Portola Lack of funds: Most small startup businesses are extensively dependent on personal savings as they do not generally get funds from external sources. Since most young entrepreneurs do not have substantial savings to invest, their business kick starts lowly.
The lack of funds also limits business plans. Those who love to be their own boss, despite having low capital, focus on businesses that do not require substantial startup capital, such as Internet marketing and homemade businesses. Offering the best: A challenge for an entrepreneur is to make his service better and better and ultimately making his service the best service in the market.
Beating others: To prosper in the business an entrepreneur has to beat the others. Providing good quality products, services attract consumers and his business begin to prosper.
