Convenience

128
Part 2:
Planning
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It is no surprise, of course, that his bigger competitors have taken note of
Ulukaya’s success and attempted to thwart his efforts. Both Dannon and Yoplait
have aggressively introduced their own versions of Greek yogurt and are gaining
market share. But for the time being, at least, Chobani still hasn’t found its ceiling.
Indeed, the firm is now shipping 1.2 million cases a week, and sales are still
growing. Not bad for a Turkish immigrant just looking to learn a foreign
language!
1
Just like Hamdi Ulukaya, thousands of people all over the world start new businesses each
year. Some of them succeed and many, unfortunately, fail. Some of the people who fail in a
new business try again, and sometimes it takes two or more failures before a successful
business gets under way. Henry Ford, for example, went bankrupt twice before succeeding
with Ford Motor Company. On the other hand, of course, there are the Hamdi Ulukayas
who succeed once (with Euphrates, in his case), try again, and succeed a second time.
This process of starting a new business or business venture, sometimes failing and
sometimes succeeding, is part of what is called
entrepreneurship
, the subject of this chapter.
We begin by exploring the nature of entrepreneurship. We then examine the role of entre-
preneurship in the business world and discuss strategies for entrepreneurial organizations.
We then describe the structure and performance of entrepreneurial organizations.
THE NATURE OF ENTREPRENEURSHIP