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Shaila Williams

on 21 March 2013

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Transcript of Entrepreneur

Mike Lazaridis Successful Canadian Entrepreneur Observant: Lazaridis visualized a successful opportunity that would change the technology industry Throughout the years, Mike Lazaridis has projected many important skills in his career: Mike Lazaridis is an example of a successful entrepreneur because he envisioned a dream of wireless communication and made it come to life by researching, planning and seeking opportunities that will enable him to launch a business venture. Background Info. Characteristics: Skills Why he's a successful entrepreneur... CHILDHOOD The Technology Although Blackberry's leading competitor,
the iPhone, has revolutionized the cell phone
market, Blackberry extroverted characteristics
offer useful advantages that benefit the consumer and greatly impacts the technology industry. According to SeekingAlpha.com, the Blackberry offers numerous of essentials, such as: Having adaptable settings such as keyboard functions (i.e.touchscreen & a tangible keyboard)

Supported by most international carriers

Specializes for business use - born in Istanbul, Turkey
on March 14, 1961
- family moved to Windsor,
Ontario at the age of 5
- had a fond for science
and technology
- he constructed rockets,
put together radios and
other technical objects
with scientific underpinning
- he won an award at the age
of 12 for reading all the
science books in the public library
-he enrolled in all science and
construction classes in high school EDUCATION - studied electrical engineering and computer sciences at the University of Waterloo - in 1984, Lazaridis dropped out of university just 2 months before graduation to pursue RIM ABOUT RIM - Lazaridis & Doug Fregin (best friend from U. of W) founded Rim together "as an electronics & computer science consulting business that later focused on developing technology for the wireless transmission of data, such as email and text messages, & establishing wireless point-of-scale customer terminals"

- the company was awarded a $600 000 contact by General Motors

-Jim Balsillie (an old friend) joined the business as co-CEO in 1992

-RIM expanded to an international corporation that was later worth $68 billion in 2007

-became known for its innovations;predicted &incorporated new trends such as cameras, music player, touchscreens, etc.

- profits decreased 55% due to competition by iPhone and Android phones in 2011

- shareholders agreed that the company lacked leadership & replaced Lazaridis & Balsillie as CEOs with Thorstan Heins & Barbara Stymeist

- Lazaridis is currently vice-chair of the board's new innovation committee PHILANTHROPY AWARDS RESEARCH IN MOTION: CHARITY WORK: Lazaridis established the Perimeter Institute for Theoretical Physics (an organization that focuses on research in fundamental physics) and donated $170 million

He donated $100 million to the Institute for Quantum Computing "to advance research in quantum information"

He also donated money to the University of Waterloo to construct a new building for the Nanotechnology Engineering program

He became a member of the National Sciences & Engineering Research Council of Canada and board of governors for the U. of W

He's also a delegate for the Ontario Research & Innovation Council AWARDS & MOTIVATION: Lazaridis was recognized and awarded for the innovation of wireless technology & software

In 1999, he won an Academy Award for "RIM's role in inventing a digital bar code reader for film-editing"

He was awarded the honorary doctorates by the U. of W. in 2000 and in 2005 by McMaster U.

He won The Ernest C. Manning Principal Award in 2002 (Canada's most prestigious innovation prize)

Was named Canada's Nation Builder of the Year in 2002

He was on TIME's list of Influential People in 2005

In 2006, he was named Officer of the Order of Canada Risk-taker: He dropped out of school and risked a university degree, hoping RIM would be efficacious Tactile: He was influenced by technology and was interested in how things worked; he approached the construction of the Blackberry phone using hands-on methods and achieved his goal to construct an impressive-quality device Perceptive: He is aware of all the activities that are performed in the business; he's able to predict trends & demographics and incorporated consumers' interests into the new line of phones that were previously released Creative: He creates and innovates new line of phones to satisfy customers needs and wants Passion & Optimistic: Although the increase in competition have effected current profits for Blackberry, Lazaridis remains passionate about his business and continues to have a positive attitude Self-confidence: He was confident that the company would be successful when he dropped out of school and remains optimistic about achieving future goals Imaginative: He envisioned a wireless device that can change hoe people communicate Interpersonal & a Leader: He co-operates with all shareholders and managed to lead an entire corporation to accomplish revenue goals Research Skills have helped him gain knowledge and generate ideas that improved his business. Learning about technology enabled him to build a device that contrasts from other phones and improves the lives of citizens. Research skills are essential for all entrepreneurs. Relationship Skills have advanced his career in the business industry because without his partnership, Lazaridis would have had a difficult time starting and managing the company. His partners helped boost the company's financial success. Leadership skills is evident because he was passionate about something and followed his dreams. He achieved his goal of constructing a good-quality phone and made a difference in the communication industry. Shareholders look up to him and seek for his approval when making decisions. Lazaridis proved that he had technology skills because he was often involved in technical activities from youth and studied it in university. Technology skills are valuable when working in the business industry. This allowed him to start a venture to sell what is now one of the world's most popular devices. His persistent effort and drive is what makes Mike Lazaridis a leader. Therefore, I believe that he's a good role model for young entrepreneurs. He retains both introvert and extrovert qualities and utilizes these strengths to motivate his team to try their best and keep a positive attitude. He created a learning organization that utilizes all workers' knowledge to improve overall performance of the company. Regardless of competition, Lazardidis often encourages his employers to cooperate and work as a team to create new strategies. He's a process innovator; he changes his work environment and systems in order to benefit the company. Eg. he stepped down from the CEO position and allowed Thorsten Heins to take over. (This issue was to be addressed in order to create and implement new strategies that will increase productivity and revenue for the company) He's a strategic leader because he creates a capacity for ongoing strategic change. Despite possessing many entrepreneurship characteristics, Lazardis has also expressed that he's a leader and a major innovator through his actions. This entrepreneur definitely has an impact on today's society, as many people believe that the introduction of Blackberry have changed the technology industry and have improved countless lives wit the ability to communicate effectively, easily schedule important dates, establish alarm systems and data management, etc. The impact of this venture has allowed other entrepreneurs to invent new technology devices and create successful enterprises. Impact on Society * His intrinsic & extrinsic rewards and constant contributions to the community have allowed him to continuously stay motivated throughout the years.* SOURCES: Neilson, Laura. "Mike Lazaridis". The Canadian Encyclopedia.
N.d. Web. March 11, 2013. Gale, Thomson. "Jim Balsillie & Mike Lazaridis". Encyclopedia of World Biography.
2002. Web. March 11, 2013. No Author. "Mike Lazaridis of RIM". CBC News.
2012. Web. March 12, 2013 No Author. "BB's 26 Advantages over iPhone". Seeking Alpha.
2009. Web. March 10, 2013. By: Shaila Williams
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