Several themes were introduced in this first chapter, including the importance of entrepreneurship to the success of the overall economy, the need for entrepreneurs to take risks (and the greater the risk, the higher the profit may be), and the dynamic business environment and the challenges it presents. Few organizations in today’s society are more indicative of the new challenges than Cirque du Soleil (sounds like Serk due Solay).

In the first place, Guy Laliberte took a great risk by challenging the established circus tradition. The elaborate shows are expensive to start, and the talent must be the best in the world. But the risk paid off big time with sales of almost one billion dollars per year. Cirque du Soleil creates thousands of new jobs and contributes greatly to the communities it serves. It does this not only through the taxes it pays, but through community outreach programs as well. Because of the entertainment value, Cirque contributes to both the standard of living (through the taxes it pays) and the quality of life (the fun it provides for citizens of all ages).

Like all organizations, Cirque du Soleil has many stakeholders. They include the owners, employees, and local community. The organization is especially focused on the stakeholder group called customers. It wants to put on the best show possible, and that means providing the best talent in the best locations. To reach as many people as possible, many of the shows go on the road. You can even watch some of the performances on TV.

The business environment presents many challenges to Cirque du Soleil, as it does for all businesses. The economic and legal environment of the United States greatly supports entrepreneurs like Laliberte.

The technological environment in the United States is also supportive of new business ventures. No circus in the past came close to the elaborate technological devices used by Cirque du Soleil. The stage of the Cirque productions in Las Vegas, for example, is a huge pool that delights the audience with its ability to change from a place where the actors can seem to walk on water to one where they can dive from many feet above the pool.

The social environment is also conducive to new businesses. The diversity of the U.S. population has contributed greatly to the ability of the circus to find diverse acts and to recruit such acts from all over the world. The ability of the organization to adapt to many cultures is shown by its success in various cities throughout the world.

Of course, success is likely to breed much competition, and Cirque has its share. Even traditional circuses are tending to offer more exciting programs that reflect what Cirque has been doing for years. Competition is good for business. It prompts all businesses to offer the best products possible.

One of the best things about this video is that is allows you to see part of Cirque du Soleil in action. If you have never seen the show, search it out—even if only on TV. It is exciting and fun, and it shows that entrepreneurship is alive and well and providing wonderful new services. The result is profits for the owners and a better quality of life for us.

What are some of the challenges and opportunities you can identify for Cirque du Soleil in today's dynamic business environment? Discuss the types of Management styles found in this organization

Answer rating: 100% (QA)

Cirque du Soleil is a Montreal based company that doubles u as the largest contemporary dance company in the world formed by Lalibert in 1984 After fi... View the full answer