Entrepreneurship

ENTREPRENEURSHIP
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Entrepreneurship
Entrepreneurship involves a pursuit aimed at an opportunity present without regard to the resources. The definition means that people need to utilize available opportunities to make money. People who are serious in entrepreneurship have always noticed the niche in the society and plan to satisfy the members for a pay (Drucker, 2014, p.175). An entrepreneur is a person who takes the financial risks for a certain opportunity available with the hope of making a profit after running the business (BusinessDictionary.com, 2018). Entrepreneurs are seen to observe the niche in the market and through their creativity comes up with the solution that can assist in the satisfying the needs of the customers and members of the public in general (Baum, Frese, and Baron, 2014, p.45). They have the skills to manage and organize businesses so that they can work well to increase the incomes for the business. Therefore, they have the characteristics and values that are required for the success of a business.
Steve Jobs a good example for an entrepreneur who showed great skills in developing a product that was needed on the market by the members of the society (Singh, 2015, p.125). He is the co-founder of Apple. He observed that the market needed more advanced technology that could assist in the communication (Crunchbase, 2018). They joined hands with Steve Wozniak in developing the entrepreneurial venture.

Wozniak sacrificed to sell his scientific calculator so that they could get finances that could assist in the running of the business (Keller, 2017, p.634). On the other hand, Steve Jobs sold his bus to top up on the money needed for the operations (Biography.com, 2018). Their main objectives were to ensure that the machines available in the market were smaller, cheap and accessible to all customers (Susana, 2011). As entrepreneurs, they had checked the market and realized that the machines in the market were very expensive and large (Staff Entrepreneur, 2018). Therefore, they did not satisfy the needs of the customers. The two shared the roles with Job issued with the role of marketing while Wozniak made the customer friendly computers (Streeter, 2015, p.19).
The performance of Apple Company went low when Steve Job gave the CEO job to John Sculley who was in charge of marketing at Pepsi-Cola (Mazarakis, 2018). The product that was produced from time resulted in the disappointment of the customers. Mr. Sculley believed that Steve Job was the one behind the failure of the company and hence he was pushed to a segregated position and thus opted to leave Apple (Mac History, 2018). After that, he bought Pixar and renamed it to Pixar Animation Studios. He used the studio to produce various movies like The Incredibles and Toy Story (Catmull et al., 2015, p. 978). The development and success of the studio made it be merged with Walt Disney, and thus Steve Job was the largest shareholder. The development of Pixar shows that Jobs is an entrepreneur who notes the opportunities in the market and plans strategies that can satisfy the customer (Isaacson, 2012, p.94).
In conclusion, it is clear that an entrepreneur has to be creative enough to realize the opportunities in the market. Additionally, he or she should take financial risks to gain profits. Entrepreneurship needs persistence because sometimes thing may go against the expectation of an individual. For instance, despite Job leaving Apple Inc., he did not give up. He continued to see the opportunities in the market, and thus he purchased Pixar and made it better. Therefore, it is important for people who wish to be entrepreneurs to note the opportunities in the society and plan strategies that they can earn money from the niche.
References
Baum, J.R., Frese, M. and Baron, R.A. eds., 2014. The psychology of entrepreneurship. Psychology Press. pp. 41-65
Biography.com, 2018. Steve Jobs. Biography.com. Available at: https://www.biography.com/people/steve-jobs-9354805 [Accessed 27 Jan. 2018].
BusinessDictionary.com, 2018. Entrepreneur. Available at: http://www.businessdictionary.com/definition/entrepreneur.html [Accessed 27 Jan. 2018].
Catmull, E., Fishman, E.K., Horton, K.M. and Raman, S.P., 2015. From Toy Story to CT scans: lessons from Pixar for radiology. Journal of the American College of Radiology, 12(9), pp.978-979.
Crunchbase, 2018. Steve Jobs | Crunchbase. Available at: https://www.crunchbase.com/person/steve-jobs [Accessed 27 Jan. 2018].
Drucker, P., 2014. Innovation and entrepreneurship. Routledge. pp. 175- 253
Isaacson, W., 2012. The real leadership lessons of Steve Jobs. Harvard business review, 90(4), pp.92-102.
Keller, J., 2017. New Opera in Santa Fe: The (R) evolution of Steve Jobs. The Hopkins Review, 10(4), pp.633-636.
Kuratko, D.F., 2016. Entrepreneurship: Theory, process, and practice. Cengage Learning. pp. 107-195
Mac History, 2018. Showdown at Apple: John Sculley vs. Steve Jobs – Mac History. Available at: http://www.mac-history.net/showdown-at-apple-john-sculley-vs-steve-jobs [Accessed 27 Jan. 2018].
Mazarakis, A., 2018. Tech: Former Apple CEO John Sculley is working on a startup that he thinks could become bigger than Apple. Pulselive.co.ke. Available at: http://www.pulselive.co.ke/bi/tech/tech-former-apple-ceo-john-sculley-is-working-on-a-startup-that-he-thinks-could-become-bigger-than-apple-id7127691.html [Accessed 27 Jan. 2018].
Singh, A.K., 2015. Entrepreneurship: A case study of Steve Jobs. Delhi Business Review, 16(1), p.125.
Staff Entrepreneur, 2018. Steve Jobs: An Extraordinary Career. Entrepreneur. Available at: https://www.entrepreneur.com/article/197538 [Accessed 27 Jan. 2018].
Streeter, T., 2015. Steve Jobs, romantic individualism, and the desire for good capitalism. International Journal of Communication, 9, p.19.
Susana, K.Y., 2011. Shifts in Translation of Locative Prepositional Phrases with Reference to Steve Jobs Biography. Denpasar: Udayana University.