Summary
Plot
In this episode of The Profit, Marcus Lemonis visits Amazing Grapes in April 2014. Greg and Bill are wine connoisseurs in Orange Country that turned their passion of collecting fine wines into a business. However, their business Amazing Grapes has unfortunately never been profitable. The business is months away from closing down due to mismanaged inventory and absentee of owners. Marcus Lemonis comes in and convinces staff and the owners to take ownership of their business and stop running Amazing Grapes like a hobby. Marcus in the end saves the business from being financially crushed (Productions, 2018).
Main Characters
The main role players are Marcus Lemonis, Greg Schroeder and Dan Isenhart. Marcus Lemonis is a businessman, …show more content…
They are risk-takers, visionaries, and creative thinkers, hard working, driven and passionate. Entrepreneurs persevere and are committed (Russell et al., 2017).
The Difference between Management & Leadership To manage means ‘to handle a situation’. A manager has power due to the position that they hold. Management plays the role of administrators. They control and direct people as well as resources. The functions of management include directing, organizing, planning and controlling. They draw up budgets, write business plans and monitor overall progress of the business.
Leaders are people that are skilled in motivating others towards achieving a common goal. They motivate change. A leader has power due their personality and perceived experience. Ideally the managers in an organization have the ability to lead as well. The function of leaders include motivating, guiding, strategic thinking, communication, visioning, inspiring, communicating ideas, gaining acceptance, innovating, strategizing and recognizing potential (Russell et al., …show more content…
Although the business was losing money, he still saw the opportunity for potential development and growth of Amazing Grapes and therefore he took a risk and he invested. Marcus involved the staff and consulted their opinion on the sales, profits and the owners of the business. Marcus discovered that Greg’s band was in fact decreasing sales for the night and he therefore took an authoritative role and decided that Greg’s band will no longer play at Amazing Grapes. This decision was made to benefit the business in every way. Lemonis had a vision of the bar area and therefore he turned his plan into action with contractors coming in to re-do the store and move the location of the bar. Marcus displayed a positive attitude in the process and he motivated and thanked the staff for all their work (The Profit - Amazing Grapes,
Plot
In this episode of The Profit, Marcus Lemonis visits Amazing Grapes in April 2014. Greg and Bill are wine connoisseurs in Orange Country that turned their passion of collecting fine wines into a business. However, their business Amazing Grapes has unfortunately never been profitable. The business is months away from closing down due to mismanaged inventory and absentee of owners. Marcus Lemonis comes in and convinces staff and the owners to take ownership of their business and stop running Amazing Grapes like a hobby. Marcus in the end saves the business from being financially crushed (Productions, 2018).
Main Characters
The main role players are Marcus Lemonis, Greg Schroeder and Dan Isenhart. Marcus Lemonis is a businessman, …show more content…
They are risk-takers, visionaries, and creative thinkers, hard working, driven and passionate. Entrepreneurs persevere and are committed (Russell et al., 2017).
The Difference between Management & Leadership To manage means ‘to handle a situation’. A manager has power due to the position that they hold. Management plays the role of administrators. They control and direct people as well as resources. The functions of management include directing, organizing, planning and controlling. They draw up budgets, write business plans and monitor overall progress of the business.
Leaders are people that are skilled in motivating others towards achieving a common goal. They motivate change. A leader has power due their personality and perceived experience. Ideally the managers in an organization have the ability to lead as well. The function of leaders include motivating, guiding, strategic thinking, communication, visioning, inspiring, communicating ideas, gaining acceptance, innovating, strategizing and recognizing potential (Russell et al., …show more content…
Although the business was losing money, he still saw the opportunity for potential development and growth of Amazing Grapes and therefore he took a risk and he invested. Marcus involved the staff and consulted their opinion on the sales, profits and the owners of the business. Marcus discovered that Greg’s band was in fact decreasing sales for the night and he therefore took an authoritative role and decided that Greg’s band will no longer play at Amazing Grapes. This decision was made to benefit the business in every way. Lemonis had a vision of the bar area and therefore he turned his plan into action with contractors coming in to re-do the store and move the location of the bar. Marcus displayed a positive attitude in the process and he motivated and thanked the staff for all their work (The Profit - Amazing Grapes,