Steve Jobs the founder of Apple entrepreneurial venture Research Paper

Steve Jobs the founder of Apple entrepreneurial venture - Research Paper drillIn the concluding section, the key aspects that have helped Steve Jobs to achieve success will be reflected. Traditional Entrepreneurial Path An entrepreneur tidy sum be set forth as a person, who undertakes the probable risks that can arise in order to organize, manage and develop a business. In the present day context, an entrepreneur is acknowledge as a developer or an innovator who generally recognizes as well as seizes opportunities and translates those opportunities to marketable as well as workable ideas (Kuratko, D. F. & Hodgetts, R. M., Entrepreneurship Theory, Process, and Practice). A traditional entrepreneur intends to make the undertaken business venture no-hit. The path that generally is followed by an entrepreneur in traditional process of entrepreneurship atomic number 18 converging on an idea of business, preparing a business plan, business formation, growth and exit st commitgies ide ntification and going public with the business venture (Silver, Stages of Entrepreneurship). In traditional entrepreneurial path, the virtues feature by an entrepreneur include ingenuity, diligence, ambition, tenacity, perseverance and self-discipline. These virtues guide in the endeavor of building a financially stable as well as successful business venture (Belmont University, The Good Entrepreneur) In the inception stage, the idea of business is conceived which is then analyzed in the traditional path in term of feasibility of the business idea from financial viewpoint as well as other crucial aspects such as availability of the sources for funding. The sources of funding can be from two aspects i.e. financial bootstrapping method where acceptance of financial resources are avoided from any external source of investor and in the other aspect, traditional sources of finance are sought e.g. venture capital investors, hedge funds, crowd funding to start-up the entrepreneurial vent ure. The financial aspects such as analysis of ratio, capital budgeting which includes payback method, net-present value, internal rate of return analysis and break-even analysis are part of the traditional method of entrepreneurship (Kuratko, D. F. & Hodgetts, R. M., Entrepreneurship Theory, Process, and Practice). Path Followed By Entrepreneur Steve Jobs The endeavor of Steve Jobs, the entrepreneur, can be grasp from his saying that We started out to get a information processing system in the hands of everyday people, and we succeeded beyond our wildest dreams (Entrepreneur Media, Inc, Steve Jobs The Comeback Kid). Steve Jobs vision had been to develop a computer for the rest of us. This endeavor sparked a PC revolution and turned Apple into an American business icon. The business plan of entrepreneur Steve Jobs was conceived from the endeavor of Steve Wozniak, who was an address and as part of his hobby, was trying his best to construct a small computer. Visionary Steve Jobs w ith his entrepreneurial traits convinced Steve Wozniak to be a partner in his venture. Steve Jobs had grasped the capableness of the business with a computer in the initial phase. In the business formation stage, they started on their business named as Apple, in Steve Jobs parental garage and started working towards developing a prototype called Apple I. They generated funding for their business by selling Apple I, which