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Steve Jobs was born in San Francisco on February 24 on 1955. He was an American entrepreneur, businessman, inventor, and designer. He was the co-founder, chairman and chief executive officer of Apple Inc. and Next also the member of Walt Disney Company's board of directors and major shareholder of Pixar. He was recognized as the pioneer of microcomputer revolution.
To be a successful entrepreneur we all need a little support from our luck. Events are unpredictable in our lives so we should focus on hard work and luck will aid us to be a success in the process. Steve Jobs was a success because he took a big risk and that big risk paid him off big rewards (Blackstone, & Morrison, 2001). He just focused on hard work and he has the passion to work.
He worked harder day and night so he got more opportunities to get success and the closed doors of success opened with his hard work. Steve Jobs focused on the needs of customers with its Apple device whereas other rival companies like Microsoft failed to understand the needs of customers (Brentano, n.d.). The success behind Apple was thus in a manner, the poor management of Microsoft and this gave Steve Jobs a chance to establish his own brand as he focused on creating a better experience and captured significant market share.
So here there was also the luck factor as if Microsoft didn't commit a mistake in delivering service to the customer then Apple would not have got the chance of entering the market through the hard work of steve Jobs. So the situation was lucky for Steve Jobs but also he was focused on hard work. Apple devices focused on beautiful devices which attracted more customers and this led brand loyalty (Bruce, & Birchall, 2009). Steve job was also lucky because he has the right mind to think for the future prospectus of its organization than its rivals. So it is evident that luck favors the brave as in the case of Steve Jobs for his success but it favors those who are hard working and has significant skills in their field.
There are various reasons to select Steve Jobs as the best entrepreneur as he is the smartest among all the entrepreneurs.
He had the desired skills to be a successful entrepreneur as he had the right thinking about his work and also he developed the power of understanding the needs of the customers by making his device i.e. Apple the most advanced product by installing new features like virus free device and also beautiful built quality which attracted the customers more towards his device.
Steve Jobs is an inspiration to every new entrepreneur as he had rules for success like don't live a limited life and should believe in own instinct and heart. He encouraged being ambitious and goal oriented. He focused on being passionate for work as then one can succeed. He taught us that we should never give up and always face the challenges life throw on us and stick to our work though it seems that it is difficult (Carsrud, & Bra?nnback, 2007). Be creative and design your own imagination for your work because you will yourself understand your work best rather than others and also not be dependent upon others.
He also taught us to sell good quality products though it is expensive but it gives value to the products and customers also get satisfied. He recommended us to build good team with smart and positive people to excel in our dream and work. He also focused on money that we should not only work for money, rather than work for passion as ultimately it will pay off with success. He believed to be an innovator rather than to be a rich person. He encouraged being proud of your products so to be confident on the products. He focused on customer needs as to understand what a customer needs are for the products and also market the goods with a good medium of promotion and also one should have the hunger for work and success and always try to be a learner in every aspect of life.
Steve Jobs’ previous entrepreneurial activities were not much different from what he held in the last stages of his life. Although he was the one who started Apple Computer Company, it cannot be considered to be a direct success. This is because, while he did start the company, he did not taste success directly (O'Reilly, 2011). An earlier attempt of his at entrepreneurship was the utilization of Steve Wozniak’s blue box that he discovered could be used for free long distance calls. However, it was not successful as the entire method was illegal and there was no way he could have used it for creating a sustainable business (Tidd, & Bessant, 2016). In this case, luck did not work in his favor. However, from what he said in a later interview, it was the Blue Box that gave him the initial idea to create products for the future that would create a revolution in the digital market. It was thus not luck but an ability to think out of the box that provided him with the much-needed resilience that is typical of successful entrepreneurs.
Apple was started by Steve Jobs but he was fired from the company by the very same CEO that he had hired (Cusumano, 2011). In such a case, it would be easy for anyone to conclude that luck did not work in his favor. What he did next was he went ahead and founded the NeXT computer company. He embarked on a journey where he bought George Lucas’ computer graphics and started Pixar. After that, as soon as NeXT became successful, he sold the company to Apple and once again reclaimed his place in the company as the CEO (Cusumano, 2011). As a result, we can see that it was not luck that worked in his favor but rather, an extremely hardworking nature that helped him gain a firm footing in the industry and become a successful entrepreneur.
Steve Jobs possessed specific characteristics that helped him stand out from the other entrepreneurs (Gorman, 2007). This gave him an edge over the others as he had the ability to think out of the box and implement ideas that no one utilized prior to him.
One of the most important characteristics of Steve Jobs’ personality was his ability to think differently. He had an unparalleled ability to imagine things that others of his time could not even think of. While most other entrepreneurs normally imagine and think about strategies about how to grow his own organization and how to gain market share, Steve Jobs always imagined and formulated ideas about the products of his company. His main aim was to create a line of products that would change the way people communicated. It was, in fact, an idea of how the products would change the world. While luck is an important factor, it would be useful to notice that this characteristic of his impacted luck greatly (O'Reilly, 2011). While the general idea is how to improve the growth of one’s company and gain maximum market share, Steve Jobs’ idea was to change the world. However, one cannot know for sure if his ideas would indeed change the world and how the population and customer base would react to the new ideas. It was a matter of luck how the ideas clicked with the audience and it helped him gain quite a huge amount of market share (Proctor, & Bicknell, 2012). Hence, the ideas did impact luck. While luck was on his side, he could not have taken advantage of the situation until and unless he thought differently like he did.
Steve Jobs had a great capability for taking calculated risks. While most of the risks that he took throughout the course of his career were met with criticism, the fruits that they yielded are quite clear (Storch Rudall, 2012). When it came to the organization’s growth, he was always highly passionate and fearless. His ideas went so far as to risk the future of the company. However, he had an uncanny ability to push his employees to the utmost extent without going over the edge.
One of the greatest pieces of evidence of his risks being successful is that how his products have held on to their markets in spite of tough competition from a host of other competitors (Storch Rudall, 2012). Steve Jobs had a risk taking attitude towards his work and focussed on creating not just great products but also a great company that had a brand value of itself.
One of the areas where we find a glimpse of Steve Jobs’ risk-taking attitude is in his creation of the Macintosh user interface (Streeter, 2012). The Macintosh system is, in fact, one of the systems that were created only when Steve Jobs and his team made big bets and were able to put up a system that would provide such an ideal interface. One if the essential parts of this development were seen in the development of the hardware for Mac (Streeter, 2012). Since the system was taking quite a long time to develop, they also put in a lot of effort in order to develop a hardware that would provide the best experience to the user.
Another example of this risk-taking attitude was seen when there was a shift to the use of a disk drive at the last moment in their computers. This was similar to what they used in their ‘Lisa’ computers which had a massive drive in it. This was a move that had high risks as it was planned at the last moment and there were no other means for it. However, the risk-taking nature was seen from this very attitude and it turned out to be a huge success.
An entrepreneur, according to the entrepreneurial theory, puts together the business and accepts the associated risk to make a profit. This was seen quite evidently in Steve Jobs’ attitude as he was willing to take risks at every step of his entrepreneurship activity ("The magical legacy of Steve Jobs", 2011). The risk-taking nature of his was what led him to formulate the various innovations that ultimately led him to create products that paved the way for his company and established him as one of the greatest innovators.
The economic entrepreneurial theory takes into account the various economic factors that affect the business. Steve Jobs utilized the economic theory very effectively as he was well aware of the market and could thus create a price segment that would be affordable yet create a brand value for the organization. As a result, Apple shot to success through Steve Jobs’ right idea of how to present the products to the audience.
As for the resource based theory, what was most important here was Steve Jobs’ innovation and leadership capabilities that ultimately led the company to become a massive success.
Steve Jobs can be considered to be one of the greatest entrepreneurs of the modern age. It is not because of any one trait of him but an amalgamation of a number of traits that allowed him to become a successful leader as well as an innovator. While many other entrepreneurs also possessed one or the other of these qualities, what set him apart was the luck factor that caused his ideas to click. Thus, Steve Jobs succeeded in setting up a brand that can be considered to be one of the greatest.
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