Trump started off as a young boy from Jamaica, Queens, New York city. He had lived there from the day he was born. In 1966 he moved to Pennsylvania where he attended Wharton School of the University of Pennsylvania during this time he juggled work which happened to be his family’s business, Elizabeth Trump and son which was founded in 1923. Trump graduated back in 1968 with a Bachelor degree of science in economics after spending four years studying 2 half in Fordham and the last two in Wharton School of the University of Pennsylvania. Trumps wealth was set up back in 1949 by his father’s mother and later in 1976 by his father. He was the one of the main beneficiary to both of them with a trust fund set up by his father for $1 Million. After F. Trumps death it was split into $20 million.
Trump’s business includes real estate which is the selling of property this began at his father’s development company Elizabeth Trump and son. A little fact, the company was sued for discrimination against certain races in 1969 but the affirmations
Trump began his career with an advance of $1 Million from F. Trump.
Trump’s business includes real estate which is the selling of property this began at his father’s development company Elizabeth Trump and son. A little fact, the company was sued for discrimination against certain races in 1969 but the affirmations were kept on the down low by F. Trump. In 1971 F. Trump became chairman of the board and Trump became president of the company and renamed it hence the businesses name now being The Trump Organization. In 1973 the topic of racial discrimination from the company resurfaced again when a lawsuit was filled claiming The Trump Organization discriminated against people of color who wanted to rent out a flat. They pleaded guilty to the claim and agreed to sell to people who were even receiving a low income.
In 1978 Trump established the Manhattan estates company by buying 50% stake in Commodore hotel. After 2 years of reorganization the hotel became the Grand Hyatt hotel.
Trump also owns a casino at Trump Plaza Hotel which was formally known as Holidy Corporation back in 1985.
In 2006 Trump bought and created golf courses mainly in the UK.
Although Donald Trump started off with a bit of an upper hand or privilege rather as he started off with $1 million. Trump also had his family’s business to rely on. Before the company was run by Trump while it was still known as Elizabeth Trump and son the company had middle class rentals but because of Trumps knowledge background from his Bachelor degree of science in economics he was able to create a business plan for the business to grow and strengthen these are one of the things that made him soar during most of his business ventures.
The factors of production the entrepreneur used
Factors of production are the factors that a business needs not only to survive but also function. These include human resources which is labor, raw materials, capital, entrepreneurship. Trump has used all of these resources
Human resources later on when trump was able to create the Trump Towers back in 1980 he hired non documented polish workers to tear down a momentous building that stood before it. Although didn’t use his human resources in an ethical manner this means he could have exploited these workers because they were registered these workers could have been immigrants or refugees which could restrict them from legal jobs.
Capital Trump used $1 Million and turned that into a multimillion dollar empire. He was able to use the money in a way that can make the businesses grow this is known as investments. Trump was smart because he didn’t ‘invest’ in just one business but several at a time with a small gap of a few years that way he was able to get profit from one business and inject some money in another.
Entrepreneurship Trump obtained a degree in science in economics and because of this strong advantage he could have an idea of what an entrepreneurship needs for their business to suffice in the industry.
I believe Trump has had to adapt to a democratic leadership style. Because times have changed Trump has to be more inclusive technology isn’t something Trump struggles with but for technological advancements specialists are needed and other departments such as finance and marketing which are from the micro environments.
Why has he become an entrepreneur?
For Trump his family already had a business now known as The Trump Organization. He was brought up in an entrepreneurial environment. I believe he knows what it takes to build an empire with the resources he has which is exactly what he has done and being an entrepreneur showcases these talents.