Discuss about the Clusters Of Entrepreneurship And Innovation.
Apple is an American company which sells electronic appliances; software’s and provides various online services to customers. It has occupied a good place in the market because of the contribution of entrepreneurship. It is true that country’s economic growth is directly related to new innovations (Elkind, 2018). Entrepreneurship and innovation basically includes developing and creating new services in the market. It’s a dynamic factor in ensuring durable economic development of the society. Establishing a new business or industry is not easy there is lot to risks that need to be taken. Entrepreneurship and new innovation helps to address social problems and environmental issues (Jobs, 2015).
Main qualities for the success of entrepreneur are self-discipline, integrity, persistence and have clear sense of direction. First of all the entrepreneurs have strong self-control on their responsibilities. Apart for that for their success it is important to gain reputation in the market that could be achieved by quality of the product delivered. For a successful entrepreneur it is important to possess persistence (Linzmayer, 2014). Finally, entrepreneur has clear sense of direction which would help them to grow without any turbulence. They come from different geographic locations have different upbringings, different income brackets set and various social levels. While these hindrances doesn’t affect the life of successful entrepreneur as they are consistent towards their success. The reason for their success is tenacity that is they are prepared for every situation in the failure and do not carry any fear of humiliation or out of cash issue because they have very clear vision for their objective (Galindo & Méndez, 2014). Entrepreneurs are goal oriented and focus on execution of the vision. Like Apple went from a simple idea to a billion dollar company in a flash. The reason for their success is that they are ready to take high risk and keep on innovating new products for the customer.
The personality approach of Apple looks at the processes by which they can get more target audience. Prime audience is known so that concepts and processes are discovered closer to their actual behavior, such as specific traits and specific motivation which helped Apple to develop difficult and specific goals for success. Literature research indicates that Apple’s motivation and action strategies helped them for running a business successfully and overcoming the incumbents in the market (Matsubara, et. al, 2012). It can be stated that both specific motivation of Apple and Blackberry helped in discovering competitive strategies to mediate the relationship between personality traits and success.
Apple Inc. has covered the competitive markets by beating all the incumbents. Apple’s brand has evolved in the market as it has expanded the new innovation by started from small range of desktop computers to laptops, iPod’s and variety of products and services. Apple has changed the market by innovating new products and services. The release of first iPhone somewhere was a hurdle for other companies, it kept on launching new products with new innovation. The success of entrepreneur relies on the fact that they learn the market demands and work on them. Apple was developing ideas and opportunities according to the customers demand (Colombelli, Krafft & Vivarelli, 2016).
Steve Jobs also started the business by launching small pocket sized gadget used for business purpose for performing calculation , making calls and so on. It was very fast in reacting to the market changes. Apple had come up with iOS at that time and it grabbed the market because it provided a user friendly approach (Deutschman, 2010).
Apple products are designed to provide better lifestyle to users. They help organizations to work effectively and productively to solve problems. The purpose of its services is to offer creative working environment. There are various products ranging from iPhone, iPad, Mac and so on for redesigning the future of business. Some of the achievements of Steve jobs include Apple II, Macintosh, Ipod, iPad, IPhone, itunes and iOs. Apple II was a fastest selling computer used for personal use as it allowed users foe creating of high tech graphic animations. This computer brought power in the IT world especially in small and medium sized business. In late 90s the computer for everyone was designed that introduced and mouse and graphical user interface for the audience (Sahut & Peris-Ortiz, 2014). This innovation of Steve Job was widely accepted as it innovated computers that were simple to use and had a user friendly interface. The production of Mac OS is one of the greatest achievements for the company. This operating system was versatile and was adopted in all he apple gadgets that are in iPhone, iPad and even in Ipod Touch. Steve was widely appreciated for producing iTunes. This software allowed user to organise digital music collection and customers paid for listening to music via iTunes due to the ease of use and convenience. iTunes now sells millions of tracks per day and has occupied the entire music business and the media. With the continuous positive feedback from the market, it leads to the development of iPod in 2001 that changed the way of audience how to listen to music. IPod became an icon of Apple’s unmatched capacity for simplicity In the design and pure usability. Steve Jobs stuck the telecommunication sector by deployment of iPhones in the market. There were very incumbents in the market selling the touch screen phones but it was the first phone that got a boom in the market. The success of entrepreneur is they don’t stop at a point and keep innovating new facilities for the customers. iPhone was not an end, discovery of App store took revolution to next level. The infrastructure of App store was designed in a way that put a world of software’s on the fingerprints (Robbin, Jobs & Schiller, 2018). Hence, it can be said the products and services of Apple are used by everyone till date and will be growing in future as well.
Steve job is considered as the father of digital revolution with the massive innovation and design perfectionist. He had a worth network of 8 billion dollars and there is not a single industry of creator in the world of technology like him. Apple is one of the top most companies in the world and has reached to a great height. But the actual story behind the achievements of entrepreneur Steve job depicts the success. Steve Jobs started the business at very small level by discovering Apple hardware’s but it dint catch the attention commercially. The products developed by Steve Jobs are adored by millions of people across the world. A company was started in garage it is worth more than 742 billion dollars today. For over 30 years, all the electronic gadgets have been transformed by none other than Steve Jobs of Apple. The journey of entrepreneur Steve job is difficult, in his early life he struggled for his identity as his parents were unable to take care of him. He hardly took interest in academic but was only interest in pranking with phones and computers and creating business ideas(Chatterji, Glaeser & Kerr, 2014). Thus he along with his friend started the business plan by selling his Volkswagen bus and designed a series of user friendly computers. The initial success of Apple I pushed job to create bigger and better computers. By late 1970s they created Apple II that was a high speed business workstation it was a hit in the market with millions of sales. As for achieving more success he hired chief executive of Pepsi for expanding the business in new direction. But due to some controversies Steve Jobs were hired from the company. But after the struggle he purchased an animation studio and with its money he established a new company which was specialised in high end workstation for achieving business continuity. It was again a blend failure, but decade later the company was purchased by Apple. Over the next few years, jobs went from small position to the company’s CEO. It was second period for Steve Jobs at apple, he produced many successful devices from the IMac to I pads and helped Apple to grow as the biggest company in the technology sector (Carlton & Annotations, 2012). He is a true inspiration for every entrepreneur.
Apart from that the reasons the company is still so successful and making hard for competitors to beat in the market is due to few things like; Apple creates the product that is very easy to use by the customers. The design of user interface is very easy to understand and the goal is to create everything which is easy to learn. It focuses on the demand of customer for making decisions. For an successful entrepreneur it is necessary to analysis the market what the incumbents are offering and what are their drawbacks (Butcher, 2010). Apple uses this enigma to by discovering the products that are simple and make use of technology that do not create complexity.
For achieve the success in the business and beat the incumbents present in the market a strategy need to be followed. There are various activities that need to be performed before establishing a business (Roberts, Murray & Kim, 2015). Various steps need to be taken are:
Conclusion
Innovation is the key to success for very new business. The story of Steve Jobs depict about the associated risks in the business plan. iPhone, iPad and Mac are the best tools which was designed by Steve Jobs for the business. They help employees solve problems in creative way by cultivating an entrepreneurial environment
References
Butcher, L. (2010). Accidental millionaire: the rise and fall of Steve Jobs at Apple Computer. New York: Paragon House.
Carlton, J., & Annotations-Kawasaki, G. (2012). Apple: The inside story of intrigue, egomania, and business blunders. Random House Inc..
Chatterji, A., Glaeser, E., & Kerr, W. (2014). Clusters of entrepreneurship and innovation. Innovation Policy and the Economy, 14(1), 129-166.
Colombelli, A., Krafft, J., & Vivarelli, M. (2016). Entrepreneurship and innovation: New entries, survival, growth (No. 2016-04). Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), University of Nice Sophia Antipolis.
Deutschman, A. (2010). The second coming of Steve Jobs. Crown Business.
Elkind, P. (2018). The trouble with Steve jobs. FORTUNE-EUROPEAN EDITION-, 157(5), 54.
Galindo, M. Á., & Méndez, M. T. (2014). Entrepreneurship, economic growth, and innovation: Are feedback effects at work?. Journal of Business Research, 67(5), 825-829.
Jobs, S. (2015). Commencement address. In Presented at: Stanford University.
Linzmayer, O. W. (2014). Apple confidential 2.0: The definitive history of the world’s most colorful company. No Starch Press.
Matsubara, Y., Sakurai, Y., Prakash, B. A., Li, L., & Faloutsos, C. (2012, August). Rise and fall patterns of information diffusion: model and implications. In Proceedings of the 18th ACM SIGKDD international conference on Knowledge discovery and data mining (pp. 6-14). ACM.
Robbin, J. L., Jobs, S., & Schiller, P. W. (2018). U.S. Patent No. 7,345,671. Washington, DC: U.S. Patent and Trademark Office.
Roberts, E. B., Murray, F., & Kim, J. D. (2015). Entrepreneurship and Innovation at MIT: Continuing global growth and impact.
Sahut, J. M., & Peris-Ortiz, M. (2014). Small business, innovation, and entrepreneurship. Small Business Economics, 42(4), 663-668.
Wu, C. W., & Huarng, K. H. (2015). Global entrepreneurship and innovation in management.
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