Pablo Escobar Research Paper

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The role of Pablo Escobar Pablo Emilio Escobar Gaviria was a Columbian drug trafficker and narco-terrorist who rose to infamy during the 1970’s and 1980’s. Known as the wealthiest and most successful criminal the world has ever seen (Byrnes, 2010), as much as 80% of the global supply of cocaine is said to have stemmed from the Medellin Cartel of which Escobar was the Kingpin (Business Insider, 2015). Kenney (2003) defines a Kingpin as “the leader of an international trafficking enterprise who directs the production, transportation, and distribution of large quantities of cocaine, as well as the organisation’s financial operations.” During the 1990’s, Escobar had an estimated net worth of over $30 billion, in line with today’s inflation the …show more content…

Escobar capitalised on his situation; his ability to recognise the gap in the market and his practical knowledge of the cocaine industry allowed him to flourish as an entrepreneur and make abnormal …show more content…

Escobar, who assume major risks in terms of equity, time and career commitment. He also suggests that the product doesn’t have to be new or unique, but value may be infused by the entrepreneur by securing and allocating the skills and resources. The cocaine trade was certainly not new to Medellin before Escobar, but under the rule of his drug empire it flourished. He utterly exploited the situation put before him, organising his resources efficiently to create a new business model that Cartels around the globe attempted to follow. Hisrich et al (2007) suggest that entrepreneurship is a “catalyst for innovation and job creation”, Escobar allowed many poor people in Columbia to start earning money by working in his production factories, therefore illustrating the importance of entrepreneurship at a community level. Escobar was once quoted as stating "the entire economy benefits from drug money; those who traffic and those who do not. If a drug trafficker builds a house, the peasant who cuts the wood for it benefits from that." (Lee, 1996). Escobar’s entrepreneurial venture allowed many to move away from poverty, showing how his venture pertained to certain aspects of a ‘Social Enterprise’, which will be further discussed in this

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