Milton Hershey
Published on Nov 19, 2015
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PRESENTATION OUTLINE
Milton Hershey
Hershey's Chocolate Entrepreneur-By: Andres Torres
Background/facts
- Full name: Milton Snavely Hershey
- Born on September 13, 1857 in Derry Township, PA
- Started Lancaster Caramel Co. in 1883, sold it in 1900 for $1 Mill.
- American manufacturer, philanthropist, and entrepreneur
- Founded the Hershey Chocolate Corporation in 1894
Accomplishments
- Dropped school at age 13 after expressing interest in Candy making
- Set up first candy shop in the heart of Philadelphia in 1875
- Found new formula that allowed him to mass produce milk chocolate
- Built 1st modern candy-making facility in Derry Church, PA in 1905
- Built the model town of Hershey, PA for employees and visitors
Education
- Had a very limited education
- No schooling after the 4th grade
- Dropped out at age 13 before being apprenticed
Roles of Entrepreneur
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Innovator
- Thinking of ways to turn new ideas into goods or services
- Milton Hershey was the first to mass produce milk chocolate
- Milk Chocolate was considered a Swiss luxury at the time
- His formula helped the public enjoy milk chocolate whenever
Risk taker
- Take on risk of starting a new business
- Hershey took his first risk after opening his first candy shop
- He took another risk when he founded his caramel company
- Finally, his milk chocolate making company was his last risk
Spark plug
- Supplies energy needed to turn ideas into realities
- Hershey poured his sweat and time into his businesses
- Determined to find formula that would mass produce milk chocolate
strategist
- Supplies the vision and makes key decisions
- Hershey built the town of Hershey, PA
- This decision allowed his company to grow
Entrepreneur Characteristics
- Ambition and problem solving ability
- Self confidence and organizational skill
- perseverance and ability to motivate others
- energy and self discipline
- willingness to take risks
Entrepreneur Characteristics Cont.
- Highly motivated and ability to come up with solutions
- Believes in themselves and able to manage time/resources
- Doesn't give up and good at inspiring others to join team
- Thrives on hard work and willing to sacrifice in some areas
- Not afraid to risk time, money, and energy on ideas
Hershey's characteristics
- Motivated to get company started and formula developed
- Never gave up during his career and was able to hire many employees
- Worked hard in getting his career started as a confectioner
- Risked selling caramel company and starting new chocolate company
- Believed he had what it took to be a confectioner and opened 1st store
