A2 Business Principles BUSP 1202NO CLOWNING AROUND - CIRQUE DU SOLEIL

/121. Watch the video NO CLOWNING AROUND - CIRQUE DU SOLEIL

http://canmedia.mcgrawhill.ca/college/olcsupport/nickels/8e/videos/VidPlayer.php?vid=MHR1

2. Answer the following questions.

3. Enter your answers in this document and submit your responses using MS Word via DC Connect drop box.

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1. Guy Laliberté is an example of an entrepreneur that found an opportunity within a changing business environment. What are other lessons that you can take from this video that might result in an entrepreneur’s success? (4 marks)

In today’s scenario no organization takes the challenges which are taken by the Cirque Du Soleil. Cirque Du Soleil is the company which have their success on the basis of creative and innovation. After watching the video case the points which we can take out are:

1. The ability of taking risk: Guy Laliberté took the risk of challenging the establish circus tradition of using animals to whole new dimension. The shows were expensive to start. So there is always a risk involved in getting higher returns of invested capital.

2. Creative and innovation: Cirque Du Soleil success lies in the innovation and creativity they brought to their performance in every show they performed. The show made a new market in their field and continued to expand the market. The circus which they run is huge success where as other circus are still struggling to make their place in market. Cirque Du Soleil is the example which has made their business on the base of creativity and innovation.

3. Utilization of the business environment: Cirque Du Soleil is the company all about the creativity and its owner used the business environment to its best and hence the outcome of the proper utilization of the business environment is the huge success of the company.

4. Stakeholder: Cirque Du Soleil is the proper example of how to treat is stakeholder. Like other company’s Cirque Du Soleil too has many stakeholder like owner, employee, local community and costumer. Cirque Du Soleil benefited the local community by picking the local talent and benefiting the local community. Cirque Du Soleil is a company which is costumer orientated which can be seen in their every show and as shown in video.

2. What are some of the challenges and opportunities you can identify for Cirque du Soleil in today’s dynamic business environment? (4 marks)

Like any other business Cirque du Soleil has some challenges and some opportunities which are as follows:

Challenges Negative impact on travel and tourism: Today’s modern economy is a dynamic economy and one of the

factors which affects the economy is the tourism. The impact on the tourism directly affects the economy of the country and Cirque du Soleil is in a business which is vastly affected by the tourism.

Performers: Cirque du Soleil success is all because of their performer because the shows which are performed by these performer are the key to their success. So the company has carefully pick their performer and train them to perform a world class show. Cirque du Soleil takes great care of their performer and sees to it that they all the things which are necessary to train and to keep them pleased are made available.

A2 Business Principles BUSP 1202NO CLOWNING AROUND - CIRQUE DU SOLEIL

Opportunities Expansion: a huge brand like Cirque du Soleil which started with a few street performer and now a global

brand and with over 3000 employees to expand their market and target the costumer is an easy job. The company have already set an example to other circus in their market that how a company in the market can expand.

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.

3. How would you compare the excitement and fun of working for a new entrepreneurial venture like Cirque du Soleil with working for a large, traditional business? What are the risks? The rewards? The challenges? (4 marks)