1. The Endurance expedition can be assessed in various contexts, such as a scientific endeavor, an entrepreneurial venture, or an exercise in imperial opportunity. The evaluation of the expedition should be based on specific criteria. Based on the context chosen, the expedition can be either considered a success or a failure.
The Endurance expedition can be seen as an entrepreneurial endeavor. Schackleton acted as an entrepreneur, dedicating significant time to raising the necessary funds for his expedition. He not only leveraged his family connections to reach out to the wealthiest individuals in Britain but also personally contacted them with a letter and a copy of the expedition prospectus. Through these efforts, he successfully secured £51,000 for the expedition. Despite taking a considerable financial risk, he remained adaptable to changing ice and weather conditions, much like a business entrepreneur responding to market changes or introducing a new product. Although the expedition did not achieve its original objective, Schackleton’s leadership ensured the safe return of his crew to Britain.
According to a managerial scholar, entrepreneurship can be defined as the relentless pursuit of opportunity regardless of the resources currently controlled. In light of this definition, it is worth evaluating Shackleton’s actions during the Endurance expedition to determine if he can be considered an entrepreneur.
Shackleton exhibited the characteristics of an entrepreneur by relentlessly pursuing opportunities regardless of his limited resources. He faced common challenges such as hiring, morale, raising money, and profitability. Despite these obstacles, he maximized his available resources and sought out opportunities. Additionally, his polar expedition occurred during a challenging period after the outbreak of World War I in Europe. This further complicated his task of recruiting crew members and sled dog trainers while also raising funds for the expedition. Shackleton took on all responsibilities himself, showcasing his high risk tolerance.
3. Compare Shackleton with other entrepreneurs or leaders you have studied. Analyze Shackleton’s strengths and weaknesses.
Shackleton’s and Steve Jobs’ determination and ability to grasp the big picture are well-aligned.
Strong points
During his expedition, Shackleton displayed various strengths. These included his resolute determination to never surrender, his ability to cultivate optimism among the crew during their extended stay on Elephant Island, his focus on ensuring the well-being of his men while prioritizing their survival as the ultimate objective, and his capability to adapt to unexpected changes in Antarctica’s rapidly changing and hostile environment.
Areas of weakness
Some of his weaknesses included being hardheaded. For instance, he disregarded the local whalers’ advice to delay his expedition to South Georgia Island due to ice floes and strong wind.
Why has there been a surge of interest in Ernest Shackleton lately? Starting from the late 1990s, there has been a multitude of books (both business and general interest), movies, exhibits, and various other projects centered around Shackleton.
The captivating and inspiring adventure of Shackleton is currently capturing people’s interest. The rapid changes in the business landscape, especially in the high-tech sector, resemble the unpredictable weather in Antarctica. Moreover, businesses frequently encounter resource constraints akin to those experienced by Shackleton. Consequently, business leaders can employ this story as a leadership and resource management model or as a source of motivation for employees during difficult times.
Reference:
Koehn, N. F. (2010). Leadership in Crisis: Ernest Shackleton and the Epic Voyage of the Endurance. Harvard Business School.
