The Role Of An Entrepreneur In Enterprise Business Essay

The Role Of An enterpriser In Enterprise line of merc chip inise EssayAn enterpriser is a person who is the owner of a crude enterprise, venture or caprice and is accountable for the inherent risks and the come to the forecome.To put it in simple words an entrepreneur is some bingle who seeks the opportunity, organizes resources enquireed for engageing protrude on that opportunity and exploits it. Computers, Television, Mobile ph geniuss, washing machines, ATMs, Credit Cards, Courier Service, and diligent to eat Foods argon all examples of entrepreneurial ideas that got heightend into products or services. any(prenominal) of the definitions of entrepreneur have been infractn belowJoseph. A .Scum peter defines an entrepreneur as a person who innovates, raises money, assembles inputs, chooses managers and sets the organization going with his ability to identify opportunities which others are not able to identify and is able to postulate use of them. beam Drucker defines a n entrepreneur as one who always searches for a change responds to it and exploits it as an opportunity. An entrepreneur innovates. Innovation is a specific instrument of success unattached to entrepreneurSource Drucker, P. F. (1985). Innovation and entrepreneurship.Char beteristics of an EntrepreneurMental Ability Entrepreneur must have creative thinking and is able to analyze problems and situations. He should be able to foresee changes.Business Secrecy He should get across and protect his work secrets from his competitors.Clear Objectives The objectives has to be clear in his sagaciousness regarding the nature of profession and inviolables to be produced.Human Relations The relationship surrounded by the entrepreneur, customers and employees e.t.c. has to be good. It is valuable to maintain individualised relations, tactfulness, stability in emotions and amity with customers, employees, etc.Communication Ability Good communication skill is the asset for any entre preneur as it eases the understanding among anyone working or dealing within or outside the company.Source Desai, V (2001). kinetics of entrepreneurial trainment Management. Himalaya Publishing House.So we throw out say that an enterpriser Is a person who develops and owns his own enterprise. Is a moderate risk proposer and plant life under uncertainty for achieving the goal. Is forward-looking Reflects strong urge to be independent. persistently tries to do something better. Dissatisfied with routine activities. Prepared to withstand the hard life. decided scarcely patient Exhibits sense of attractorship Also exhibits sense of conflict Takes personals responsibility Is Oriented towards the future. Tends to persist in the face to adversity Converts a situation into opportunity.Entrepreneurship-The word entrepreneurship is derived from the French verb Enterprendre. The French men who organised and take military expeditions in the early 16th century referred to as Entrep reneurs.Entrepreneurship is the act of being an entrepreneur, which can be defined as one who undertakes innovations, finance and lineage insight in an confinement to change innovations into economic goods. This whitethorn result in radical organizations or may be subtract of revitalizing mature organizations in response to a perceived opportunity. The near understandable form of entrepreneurship is that of equalizeing a peeled-made disdain (referred as let downup Company) however, in recent years, the term has been extended to incorporate neighborly and political forms of entrepreneurial activity.According to A.H. Cole Entrepreneurship is the purposeful activity of an unmarried or group of associated individuals, undertaken to initiate, maintain or aggrandize profit by production or distribution of economic goods or services.According to Peter. P. Drucker Entrepreneurship is uncomplete a science nor an art. It is a practice. It is k immediatelyledge base. Knowledge in entrepreneurship is a means to an end, that is, by the practice.Source Cole A.H. (1959), Business enterprise in its social setting. Cambridge Harvard University press.Types of Entrepreneur and their featuresBusiness Entrepreneurs It is refers to the individuals who conceive an idea for the product or service and makes the business around it. For example Pen production and securities industrying. The organisation of the business can be of big and small in size. duty Entrepreneurs It refers to the person who is not considered with manufacturing but only undertakes trading activities. He is the one who identifies securities industry, stimu latterlys demand for product line among buyers.Industrial Entrepreneurs Essentially a manufacturer, a person who identifies the indispensableness of a customer and tailors a product. They are the one who converts economic resources and technological resources in to profitable ventures. for example electronic effort and textile units.Corpo rate Entrepreneurs A person who demonstrates his innovative skill in organising and managing corporate undertaking.Agriculture Entrepreneur It refers to the person who undertakes agricultural activities as rearing and merchandiseing of crops, fertilizers etc. Example agricultural tourism and manufacturing and marketing of fertilizers. technological Entrepreneurs Its can be considered as a craftsman. They concentrate more(prenominal) on production and slight or negligible on sales.Source Scott, S. (2003). A General Theory of Entrepreneurship the Individual-Opportunity Nexus, Edward ElgarSTEVE JOBSSteve Jobs is an American inventor and the CEO and co-founder of orchard apple tree Inc., a ancient manufacturer of electronic devices including the mackintosh Computer (MAC), iPod, iPhone, and the music and word picture software iTunes. He was CEO of Pixar Animation Studios until it was acquired by Disney in2006. Although he is cognize as a business and sales tycoon, Steve Jobs i s credited with many of the electronic inventions now patented by orchard apple tree.St rase Paul Jobs was born in San Francisco on 24th February 1955 to Joanne Carole Schieble and Syrian Abdulfattah John Jandali and adopted by Paul and Clara Jobs. He attended the Cupertino Middle School followed by high school at Homestead H.S. in the same town of Cupertino. He worn-out(a) his childishness in the South Bay area, a region that would later choke dwelln as Silicon Valley. During high school Jobs held a spend job at the Hewlett-Packard Company in Palo Alto prior to go to college. His original association with Steven Wozniakbegan was a result of aid lectures and working at HP.Although he attended Reed College in Portland, Oregon, Steve Jobs never graduated, having only spent near six months at college. He returned to California in 1974 and began attending meetings of the Homebrew Computer Club with his friend Wozniak. At the same season he took a job at Atari to save money for a spiritual retreat to India. While working on that point he dis extended that a popular whistle re arrive atd the tones needed to make broad surmount skirt calls with ATT. Jobs convinced Wozniak to go into business with him to create blue boxes and allot them to people wishing to make free long distance phone calls.Jobs ended up confirmpacking through India but returned to work with Atari. He continued to work with Wozniak on other projects and finally convinced him to market a computer Wozniak had built for himself. On April 1, 1976, Apple Inc. was born. Although the business started with printed spell boards, Steve Wozniak and Steve Jobs eventually created their first personal computer, the Apple I, and change it for $666.66. They later followed it with the Apple II, a large success for their business. Apple Inc. began selling shares in declination of 1980.As the company grew, so did its merchandise and the hugely successful Macintosh was presentd to the public in 1984 and became the first personal computer with a lifelike user interface (GUI) through which individuals could interact with the items on the screen.Steve Jobs was the founder and uptake for the Apple Company, but he was slowly pushed out for aggressive and underarm tactics Employees said he had a temper, and was usually stubborn afterwards an internal business office struggle, he was eventually kicked off the board of directors Jobs protested and resigned, even though he stayed the chairmen for some time. He was so upset, he sold all but one of his Apple shares During this time, Jobs bought what became Pixar from Lucas film for $5 jillion He also started the computer company close Computer though it never went real mainstream, due to high costs, it was responsible for many all meaning(a)(predicate) innovations, including NeXTMail, Jobs email program that supported embedded graphics and sounds and the original beingness Wide Web system (www).As Apple grew even more, Jobs ex perienced tension with the board and the struggles led to Jobs leaving Apple in may of 1985.Steve Jobs went on to create the company called NeXT in 1986. Although it began as a company designed around aesthetic interpersonal computing, it later rivet more on software development. NeXT ended up play a study role in the development of email and the instaurationwide web.In 1986, Jobs bought The Graphics Group (later renamed Pixar) from Lucas films computer graphics division for the expense of $10 million, $5 million of which was given to the company as capital.In 1996, Apple announced that it would buy NeXT for $429 million. The deal was finalized in late 1996 bringing Jobs back to the company he co-founded. He soon became Apples meantime CEO after the directors lost confidence in and ousted then(prenominal)-CEOApple bought NeXT in 1996 and rein expressd Jobs as the Chief Executive Officer. His current annual compensation is $1, but he receives executive gifts from the board that give better harbor advantages than does his salary. He is wellspring known for his work ethic as well as his bad temper, but has consistently religious serviceed to grow Apple from a company bordering on bankruptcy in the 1990s to a very successful company today. Steve Jobs has helped establish the new electronic divisions and personally helped to create the iPod, iphone, and other personal devices.Source Steve Jobs, (2011). Long Bio Online acquirable at http//www.allaboutstevejobs.com/bio/long/01.html ( Accessed 23 March 2011)Achievements-He was awarded the National Medal of Technology from electric chair Ronald Reagan in1984 with Steve Wozniak (among the first people to ever receive the honour) and a Jefferson Award for earth Service in the category Greatest Public Service by an Individual 35 Years or Under (aka the Samuel S. Beard Award) in 1987.On November 27, 2007, Jobs was named the approximately powerful person in business by spate Magazine.On December 5, 2007, California Governor Arnold Schwarzenegger and First bird Maria Shriver inducted Jobs into the California Hall of Fame, located at The California Museum for History, Women and the Arts.In August 2009, Jobs was selected the most admired entrepreneur among teenagers on a look by Junior Achievement.On November 5, 2009, Jobs was named the CEO of the decade by Fortune Magazine.In November 2009 Jobs was ranked 57 on Forbes The Worlds Most Powerful People.In December 2010, the monetary Times named Jobs its person of the year for 2010.Steve is in the Guinness agree of World Records as the Lowest Paid Chief Executive Officer, with a salary of just $1.Source Pena, M. (2005). Steve Jobs to 2005 graduates Stay Hungry, stay foolish online. usable at http//news.stanford.edu/news/2005/june15/grad-061505.html (Accessed 24th March 2011)Steve Jobs as an entrepreneur-It is unpatterned that most of the entrepreneurs come from the various age levels, income levels, genders and race and from divers e honest backgrounds. They have their own set of personal attributes which includes Creativity, dedication, determination, flexibility, leadership behavior, love life, self- confidence and burnished these all attributes makes them stand out of the crowd.Creativity- In todays fast paced world competitive business environment requires companies to implement the bidding of innovation- It is a process of generating a new idea leading to start or make, a new or existing business firm or idea to r all(prenominal) a new successful level.Dedication Success in any business can be achieved by the conscious effort and dedication. Any entrepreneur always does the things on honest time with right provision and ideas adjoined with the hard work, this leads business to a successful venture. Dedication towards work encourages them to work hard. For them money is not the priority, its the rewards which plays the vital role.Flexibility- It is very important for business because sometimes sit uation demands changes in plans and strategy, entrepreneur should use flexibility in order to correct mistakes, errors and in efficiencies. It is a way of treatment a business with authority to change when the system demands. A lucky entrepreneur always has to be ready to make any changes consort to the customers demand. Example- Apple first comes up with the IPod in the market but when they realize that there is a market demand for Phone coordinated with the media player, they introduced their new invention Iphone .Leadership According to Steve Jobs, Focus is critical for efficient leadership, with so many options choosing the right one can be exceedingly grueling. Small changes can have big results, if you focus on the key fruit issues and execute relentlessly on those key issues. To focus on the most important issues means you have to say not to a full-length range of alternative opportunities. As a leader you have to be ready for setbacks. Setbacks are the part of life and whether you become successful or not often depend on your ability not to give up. It is a attribute to show that Never-say-die team.Source HGIC (2011). Steve Jobs, Entrepreneur(Reed College) Online. Available at http//geekornot.com/corporate/steve-jobs-entrepreneur-reed-college/ (Accessed 26th march 2011)Leadership Style-Autocratic way Steve jobs select that he used to handle incredible amount of workforce, at a time up to 100 individuals reports directly to him. The fact that there are so many individuals reports to him directly represents his will and eagerness to withstand the command in his hands. Total control is the certainly the basis of leadership.Transformational style Steve jobs has transformed many companies in to a success stories. He brings major positive changes in the company. For example he has transformed Pixar in to a success story. In transformation he enabled others to look out for individually other, to be encouraging and harmonious, and to look out co mpany as a whole.Passion Steve jobs is very much passionate about whatever he is working on. This is very evident with his cocky office and lack of gentle whole step of a transformational leader. He enhances the motivation, morale and performance of his follower group. Some people characterize him as a charismatic leader because of his passion for work.Source David Kramer. DK (2010). Leadership behaviour and attitude of Steve jobs. WordPress 15th February Online. Available at http//davidkramer.wordpress.com/2010/02/15/leadership-behaviours-and-attitudes-of-steve-jobs/ (Accessed 1st April 2011)Management Strategy of Steve Jobs-In an interview with Fortune, Steve jobs loose up his management style, The things which he said is illustrated below-SWOT synopsis you should know about your strengths and weaknesses as soon as u start a company.Spotting opportunities We need to spot the opportunities for improvement. You have to spot them and then create an environment to leverage tha t opportunity and to make it happen.Improve productivity as an entrepreneur we should know what customers want and how to improve our own productivity. heart for the ideas which can improve your team and customers.Competitive advantage taking help with the IT or making their platform i.e. hardware or software systems close can create a competitive advantage.Succession planning planning includes working together for a common goal. It is important to have episode planning so that business can run even at the time of unfortunate event.Focus focus on the most important issues which are relevant to the business and avoid issues and projects which not add value to the business.Talent acquisition Steve jobs always look for the talent who are strategically fit for the business and can be a good fit in the culture of the company. Always welcome open hands for the new talent so that the new hiring will not feel difficult to adjust.Handling barriers and roadblocks In many cases that could mean stopping projects altogether to take stock of current situations or to change the direction. on that point is no dishearten in that as the project has to deliver the projects core objective.Customer transformation It refers to utilisation of companys resources and potential in such a way which can create opportunities in attracting additional customers.Source- CNN (2008). Americas most admired companies Steve Jobs speaks out online Available at http//money.cnn.com/galleries/2008/fortune/0803/gallery.jobsqna.fortune/ (Accessed 3rd April 2011)Comparison with Bill gateIt is obvious that Bill Gates and Steve Jobs have very different personalities. There are however, interesting parallels. For example, they some(prenominal) started with one business partner each who shared a common vision. To me though, the most important thing they both share is that they positioned themselves at the right time to take advantage of a massive growth surge in personal computing.Steve jobs and bill supply have both worked very hard to fulfil their vision to develop personal computers, but the way they choose things and makes decisions are somewhat different.Steve Jobs invented the Apple computer, which was one of the earliest personal computers, he also invented the Mac guard and of course the ever popular iPhone. While Bill Gates invented the Microsoft Windows operational system as well as the first mass produced personal computers.Both of these business tycoons are extremely rich, however, Bill Gates wealth is by far the biggest. Hes estimated to have assets over $50 billion dollars. However, a Steve Jobs only has $5 billion dollars worth of assets.Steve Jobs leadership is autocratic style, because he centralizes the authority, he never given a chance to subordinate to involving decision making. He thinks that whatever he do is right. Sometimes he acts as anti Gates, and sometimes request Microsoft to develop software for his computer. His cocky attitude and lac k of management skills became a threat of APPLES success. On the other hand Bill Gates leadership is participative style because he involves his subordinate in decision making. He is a flexible person and he accepted his role was to be visionary of the company. Gates is a strong and energise person his enthusiasm, hard working nature, judgment skills reflect his personality. His motivating power and involving his friends to working with him became the success of Microsoft.Source Recomparison. (No date) Steve Jobs vs. Bill gates Online Available at http//recomparison.com/comparisons/100295/steve-jobs-vs-bill-gates/ (Accessed 8th April 2011)Task 2The criterias used by Steve Jobs for selecting and implementing new business ventures-No business comes in to existence without any purpose. The main primary common purpose for any business is making cabbage. To satisfy that need and the needs of customers companies put more emphasize on providing high quality products, goods and services. It would be not correct to say that the main priority for a business is to make money. Definitely a company needs profits to continue, but profits are not what business is for. No business sticks to the same strategy that what it adapted initially. Most of the business changes their policies and strategies according to the change in a business environment.Do what you love to do Do things which you really like to do. Put your heart and soul in it.Be different Stand out from the crowd by making different things and working differently.Do your best Always give your best whenever you pander in a work. Hard work gives success and success generates more success. Be hungry for success and hire people with passion for excellence. learn SWOT Analysis Perform SWOT analysis of the work. Make harken of strengths and weaknesses of your company. Dont hesitate to fire people who are not good for the company.Start small, think big Dont go for everything in one go, start by small and gradually stride towards the main big goal. Dont think about the today only Aim at the future.Strive to become market leader Make efforts to grab things which can give your business a competitive advantage over competitors. For example use the better engineering available in the market.Focus on the outcome people count on you by performance. So focus on giving a good outcome. If the users dont know about your product or its feature then communicate it. Show them how it works.Ask for feedback Ask customers first. They can give you a straitlaced feedback that what they like about your product and what they dislikes. Use feedbacks for future developments.Innovate subdue on the things which are better and are really useful to the business. deflect things which can put you on the wrong track. Try to hire and make things which nobody have thought of.Learn from failures Innovations sometimes leads to mistakes. So admit it quickly and use measures to avoid it resulting in improved innovatio ns.Source Young, Jeffery S. (1988). Steve Jobs, the expedition Is the Reward. Lynx BooksImportant aspects to look before venturing a new market-Need for the product or service Whether youre starting a new product, service or organization, there needs to be a strong market for it. One should always check and verify needs in the market for the particular product or service. Youll have to have comely evidence to convince an investor or funder or to yourself that yes there is really a need in the market. The nature of the product, who are the competitors and what makes your product different or more needed by the customer. For example increasing demand for palmtops leads Steve jobs to introduce I Pad in the market.The basic purpose of the business if you are starting a new business then you have to state the purpose of your business, mission statement has to be there. All the goals and objectives have to be pre-defined.Risk involvement What are the risks to the business if the pro duct didnt work in market as expected. Risk from existing competitors in the market. Insurance cover has to be there to curb up the losses incurred. Steve jobs did took the risk of competing with Microsoft.Financial status for business planning Analyse the balance sheets, cash incline statements and income statements. It will help in knowing that where the business stands in monetary terms. Are there sufficient finances available for making new moves. This will give the clear picture of the performance of business.Human resource- explore for the individuals who are best in that very field. Avoid those who can do what everybody is doing. Try those individuals who do things better, can work effectively and efficiently, generate innovative ideas. Steve Jobs has also performed talent scout to reach those people who are extremely skilled and can work better than others.Market Trend Entrepreneur should know the trends going on in the market. This can leads a business in to profit ma ximization. For example when Steve Jobs found that there is a need and trend for a phone with built-in media player, he then comes up with the innovative idea of Iphone.Source Chavez, J. (No Date). Apple CEO Steve Jobs demonstrates the Millionaire Mindset Online. Available at http//ezinearticles.com/?Apple-CEO-Steve-Jobs-Demonstrates-the-Millionaire-MindsetHYPERLINK http//ezinearticles.com/?Apple-CEO-Steve-Jobs-Demonstrates-the-Millionaire-Mindsetid=1682475HYPERLINK http//ezinearticles.com/?Apple-CEO-Steve-Jobs-Demonstrates-the-Millionaire-Mindsetid=1682475id=1682475 (Accessed 4th April 2011).Conclusion-Steve Jobs is unquestionably an extraordinary man by any standard. He has left his mark on no less than five industries personal computers with Apple II and Macintosh, music with iPod and iTunes, phone with iPhone, and bread and butter with Pixar. The middle-class hippie kid who left his education in between and built a computer empire and became a multi-millionaire in a few years, was fired from his own company before coming back a decade later to save it and turn it into one of the worlds most influential corporations, with millions of fans around the world. He has also contributed to the creation of the new leader in animated movies for decades to come. He has been called a fluke for years, but is now widely acknowledged as one the worlds most eminent business executives and an unrivalled visionary. He has changed millions of lives by making technology easy-to-use, exciting and beautiful. And you know what the best part is? Hes not done yet.Source The Business subroutine library (No Date). Great Entrepreneurs Steve Jobs Apple Founder Online Available at http//www.thebusinesslibrary.co.uk/great-entrepreneurs/steve-jobs (Accessed 5th April 2011)