The entrepreneurial aspects in Funko company 

  

 

(Making Fun the story of Funko 2018)

Funko started as a small toy company with licensed pop culture toys. Who later on changed the whole game in this Industry, Mike Becker the funder of the company managed to turn his passion into a Successful business. This article will inspect the entrepreneurship aspects of the Funko Company, The concept of the entrepreneurship hence, whom an entrepreneur is depending on different points of view. What is creativity and is there any possible relationship between creativity and entrepreneurship.

 

Joseph Aloe Schumpeter definition of The Theory of Entrepreneurship

 

The concept of entrepreneurship depend heavily on the point of view, Joseph Aloes Schumpeter an economist professor at Harvard University defined the entrepreneurship term twice the first was that a person is an entrepreneur when he is a risk taker who is willing to challenge the uncertain circumstances of the business environment.

Joseph Schumpeter considers an individual entrepreneur when these characteristics are available: passion in what he does, the courage to take risks, and competitiveness. However, entrepreneurship is a broad, wide concept depending on how it viewed as illustrated in Schumpeter later definition: entrepreneurship relies deeply on innovation and a group of people or a corporate are considered entrepreneurs.

 

What is creativity and is there a relationship between creativity and entrepreneurship?

 

On the same matter as entrepreneurship, creativity is wide concept with different ways of definition perhaps the best way to define it is “creativity as the capacity to produce novel or original work that fits with task constraints” (Lubart 1994) hence, creativity is a process of generating novel ideas yet appropriate to the given framework. Funko Company illuminates the importance of creativity in reaching large segments of customers from young toys collectors to boxing champions.

 

Where all of this leaves entrepreneurship?

 

Initial understanding of entrepreneurship was the capability to take the risk in the uncertain competitive environment, this idea developed over the years to include innovation, originality as well as agility to change, However, the key question here is there any connection between creativity and entrepreneurship.?

The answer is yes; in fact, creativity and innovation both are inseparable parts of entrepreneurship it is required to have entrepreneur skills such as risk-taking to implement creative ideas in an uncertain changeable business environment with taking into consideration driving profits to the organization.

 

Who is the entrepreneur in the Funko Company and why?

As illustrated, there is a wide range of entrepreneurship definitions it only depends on which manner it was viewed however, there are a specific personality trait and qualities of entrepreneurs. They are individuals who have the ability to turn their ideas to a real competitive business, they take the risk to win it all or nothing, hence an entrepreneur executes creativity in order to create profitability and able to increase their success under uncertain conditions. In this case, the entrepreneur was Brian Mariotti the CEO of the Funko Company, Brian bought the company from his friend and funder of Funko Mike and managed to create a whole world for the company or as they call it “The Planet of Fun”, the company blossomed in his era. from low-tech products to big deals with the largest companies in the industry such as Marvel.

Brain managed to globalize Funko toy Company by his great entrepreneurship skills as well as implementing creativity in everything he does, thus seize new opportunity to develop the firm and enhance the company position in the market. Brain is a powerful example on how entrepreneurship skills can raise or fail the firm’s success, as shown in the “Making Fun the Story of Funko ” documentary on Netflix entrepreneurship and creativity result happy loyal customer that will allow any firm to grow.

 

What all of this had taught us about entrepreneurship in Funko Company?

 

An entrepreneur leader or a firm is the core of business success, in many ways such as increasing the customers base along with strengthening its competitiveness in the marketplace,

Funko CEO Brain embodied how entrepreneurship is an essential part of any company survival in the marketplace he was able to create a complete world for the Funko fans dream place for the toy collectors from all different ages, career paths and characters they all agreed on one thing, loving and supporting FUN-ko.

 

 

 

 

 

 

References:

 

Śledzik, Karol. (2013). Schumpeter’s View on Innovation and Entrepreneurship. SSRN Electronic Journal.(online) Available at https://www.researchgate.net/publication/256060978_Schumpeter’s_View_on_Innovation_and_Entrepreneurship  (Accessed: 19/10/18)

Mattews, Judy H. (2007) Creativity and Entrepreneurship: Potential Partners or Distant Cousins? In Chapman, Ross (Ed.) Managing Our Intellectual and Social Capital: 21st ANZAM 2007 Conference, 4 – 7 December, Sydney, Australia.

The Role of Creativity in Entrepreneurship. Journal of Enterprising Culture (JEC). 18. 49-81. 10.1142/S0218495810000501. (Online) Available at:  https://eprints.qut.edu.au/11214 / (Accessed: 19/10/18)  

About Funku. Funko news Available at https://www.funko.com/about-us/news  (Accessed: 19/10/18)