Taking Risks

To end this week's class session, we discussed Capitalism (a system in which trade and industry are controlled by private owners for profit); Entrepreneurship (willingness to take risks to create and operate a business); Competitive Differentiation (whatever that sets a company apart from competitors in the minds of consumers), etc.
I personally think that Victoria's Secret has been able to accomplish all of the above. It is one of the most popular lingerie brands nationwide. Testament to the fact that they have been able to portray some level of uniqueness with their product. Taking risks, better known as entrepreneurship is an important part of creating a successful business and seeing that it grows. Victoria's Secret was established back in the early 1980's, its main product- lingerie. Today, this company has successfully dabbled in other areas. From apparel to cosmetics, bed and bath to their own line of perfumes. "VS" continues to innovate with new products and/or enhancements to already existing commodities.