Innovation, Creativity and Enterprise in Markets Essay - 4

Innovation, Creativity and Enterprise in Markets - Essay Example The innovations that have been taking place in the company since its embarking upon a long-term journey have been illuminated during the due course of the report. The main reasons because of which Unilever opted to buy Ben & Jerry’s have also been discussed. Apart from that, the entrepreneurial aspect of this company has been explained and how entrepreneurship has played a practical role in the success of their business has been elucidated. All these elements have combined together to translate into profitable growth of their company along with its brand and have led it to its present state. The purpose of this report is to conduct a research on an organization and discuss in detail, how its presence does creates opportunities and prospects for its stakeholders in light of the theory of the same. Apart from that, the method by which the company innovates its processes and products in order to meet the ever changing needs of the consumers is also conversed. Furthermore, this report also concerns how the selected organization incorporates entrepreneurial principles in order to exploit the available opportunities in the market and undertake some level of risk-taking in order to derive the most benefits from the untapped market segments (Drucker, 1986). For this research, Ben & Jerry’s has been selected as it has been coming up with innovations in its flavors ever since it has come into being in 1978. The Ben & Jerry’s is an ice-cream, frozen yogurt and sorbet manufacturing company which was set up in 1978 as an ice-cream parlor on a renovated gas station in Vermont USA, by two entrepreneurs namely Ben Cohen and Jerry Greenfield with an investment of $12,000. The ice cream parlor soon gained popularity around the neighborhood and the pair began to pack their product and started to supply it to Mom and Pop stores and convenience stores in their Volkswagen Campervan. They eventually grew