Profile of an Entrepreneur
Entrepreneurship:
An entrepreneur is a person who takes the risk of starting their own business.
A famous/successful entrepreneur:
Ray A. Kroc
Interesting Facts about Ray A. Kroc
Born in 1902 In 1955, at age 52 he acquired franchising rights from the McDonald’s brothers In 1961 he bought out the McDonald’s brothers for $2.7 million Is often called the “Henry Ford” of the hamburger industry Served as McDonald’s Corporation chairman from 1955 until 1977, when he was named “senior chairman” In 1974 he purchased the San Diego Padres Through the years he was involved in many charitable activities Prestigious award winner: Horatio Alger Award (1972), The Presidential Star (1972), American of the Year (1973) Inducted into the Advertising Hall of Fame in 1988 Died in 1984
He purchased the franchising rights from the McDonald’s brothers in 1955. McDonald’s is the world’s largest quick-serve restaurant organization. “We take the hamburger business more seriously than anyone else.” - - Ray A. Kroc
Identify & describe the good/service that was introduced:
Unique characteristics of the good/service:
Good/hot food FAST Produced in an assembly line fashion Efficient food production Dedicated to quality, service, cleanliness, and value Original ideas and recipes
Traits or characteristics of Ray A. Kroc:
Hard worker Risk taker Wanted others to be successful as well Innovative Self-confident Strong leader
Benefits or impacts of the new good/service on society: most Americans Changed the eating habits of
Convenient fast food Appeals to the “busy” person Socially responsible corporation
Charities (Ronald McDonald House) Education Environment Animal Welfare Quality and Safety
The first McDonald’s restaurant, Des Plaines, Illinois