Entertainment 720 was a fictional company introduced in the cult-favorite sitcom Parks and Recreation. The show’s co-creator Michael Schur described it as ‘a company that appears to have been dreamed up by a pre-teen’, and it certainly lived up to this reputation. With its outrageous parties, lack of any meaningful business strategy, and a self-proclaimed motto of ‘we make dreams come true,’ Entertainment 720 was one of the most memorable elements of the show’s final season.
Despite its obvious flaws, Entertainment 720 provides an interesting case study on how not to run a business. Its failures can teach us valuable lessons about the importance of planning, execution, and strategy in achieving success. In this article, we will examine the hilarious shenanigans of Entertainment 720, and what we can learn from its downfall.
Lack of Strategy
One of the central themes of Entertainment 720 was its complete absence of any discernible business strategy. The company had two simple goals: to make money and throw awesome parties. However, it was unable to achieve either. Its employees spent the majority of their time planning lavish events and creating ridiculous marketing campaigns, instead of focusing on revenue-generating activities. As a result, the company was always on the verge of bankruptcy, relying on its charismatic founder Tom Haverford to secure funding.
The lesson we can learn from this is the importance of having a clear strategy in place. Without a well-defined purpose and plan, a business is likely to struggle and eventually fail. A solid strategy should outline the company’s goals, vision, mission, and the steps needed to achieve them.
Overspending
Another key failure of Entertainment 720 was its tendency to overspend. The company’s parties were legendary, but they were also absurdly expensive. Its party planning department had seemingly unlimited resources, and all expenses were charged to the company’s already precarious balance sheet. This reckless disregard for financial responsibility eventually caught up with the company, and it was forced to shut down.
Businesses need to be financially prudent to survive and grow. Overspending on frivolous expenses is a mistake that can quickly lead to financial ruin. By monitoring expenses, setting budgets, and controlling costs, a business can maintain a healthy financial position.
Hiring the Wrong People
Entertainment 720 was a company built on personality. Its founder, Tom Haverford, was a magnetic and charming individual who managed to sell the company to a range of investors and clients despite its obvious flaws. However, the employees he hired were largely unsuitable for their roles, with most having no evident skills or experience. They were hired on the basis of their looks, charm, and willingness to attend parties. This poor hiring strategy led to subpar work quality and contributed to the company’s overall failure.
The best businesses succeed because of their employees. Hiring talented and motivated people is a critical factor in achieving success. Businesses should carefully vet candidates to ensure they have the necessary qualifications, skills, and experience.
Conclusion
Entertainment 720 was undoubtedly an entertaining part of Parks and Recreation, but it was a terrible business. Its lack of strategy, overspending, and poor hiring choices contributed to its eventual downfall. The lesson we can learn from Entertainment 720 is to plan wisely, monitor expenses, and hire the right people. By following these principles, businesses can avoid the mistakes of Entertainment 720 and strive towards success.
(Note: Do you have knowledge or insights to share? Unlock new opportunities and expand your reach by joining our authors team. Click Registration to join us and share your expertise with our readers.)
Speech tips:
Please note that any statements involving politics will not be approved.