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ResearchPaper - Ozar Garrett Ozar Research Paper The...

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Ozar Garrett Ozar Research Paper The Ultimate Entrepreneur: Ted Turner 6 December 2007 Professor Davidson The Ultimate Entrepreneur: Ted Turner Considered by many to be the one of the greatest entrepreneurs of our time, Ted Turner dominated the business world with his uncanny innovation techniques and extreme success with taking big risks. It all began when his family relocated from his birth place of Cincinnati, Ohio to Atlanta, Georgia when he was nine years old. He then attended a “military-oriented McCallie School in Chattanooga, Tennessee,” where he picked up the nickname “Terrible Ted” due to his inability to mesh with peers (Hatcher, 2007). Turner’s reputation of being “out-of-the-ordinary” started at a very young age, and continued through his entire life up to present day. When it was time for Turner to attend college, he decided to attend Brown University even though it was completely against his father’s will. After a few semesters at Brown, Turner was kicked out of school after being caught with a female in his dormitory (Jones, 2006). He then went to work with his father who was in the billboard industry. At the young age of 24, Turner’s father committed suicide because his company had become a complete failure and he had large amounts of debt to pay off. Turner took over the company to rebuild “his father’s legacy” even though everyone told him he was going to lose money just as his father did before him (Hatcher, 2007). It was first significant risk that Turner took, one that took his business career to a new level. 1
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Ozar In order for an entrepreneur to achieve high rewards, they must take big risks. This is a concept that came to Turner completely naturally, and one that he demonstrated on an everyday basis, when no one else was willing to. After Turner took over his father’s company, he formed the “Turner Broadcasting System” (Jones, 2006). The next item on his agenda was to purchase another company even though it was losing thousands of dollars a month. Ten years later, that same company gave him enough capital to start his new business project, one that investors refused to jump aboard on. His idea for the new company was to have a television station that would broadcast the news twenty four hours a day seven days a week. After putting his personal wealth at stake, he went through with his 24/7 news idea and in 1980, CNN was launched under his control (Turner, 2004). During the 70’s, Turner took ownership over the Atlanta Hawks professional basketball team and the Atlanta Braves major league baseball team. Taking ownership over a major professional team takes a lot of risk, due to high salaries and unknown performance issues with players—Turner took over two at the same time.
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  • Spring '08
  • Davidson
  • Time Warner, Turner Broadcasting System, Ted Turner, Turner Entertainment, Turner Classic Movies, http://www.turnerfoundation.org/about/index.asp Turner

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