Entrepreneurial Journey of Steve Wozniak - Coursework Example

Individual work Table of Contents Introduction 3 Entrepreneurial Journey of Steve Wozniak 4 Conception of the Initial Idea 4 Start-Up and Growth 5 Discussion in Lieu of Burns’ Assertion 6 Conclusion 8 References 10 Introduction “We were real small-time operators, kind of like somebody who sold arts and crafts on the side” – Steve Wozniak (in Linzmayer, 2004, pp. 9) The statement of Steve Wozniak, a co-founder of Apple Incorporation, denotes that aggressiveness needed to grow from an individual to a leader is certainly the key requisite, which serves entrepreneurial purposes. Factors those add on to the purpose are the skills, the determination and the features of the entrepreneur to evolve as a leader. At often instances, theorists and critics have stressed and argued upon this particular phenomenon as functioning within the 21st century business domain. Examples to felicitate and to nullify these arguments have been drawn repeatedly from real life experiences wherein the rising and fading of an entrepreneurial approach had been directly linked with the skills and competencies of the entrepreneur. In such a milieu, the inference drawn by Burns (2010, pp. 58) has attracted much of an attention, which words as, “…the issue of linking the character traits of an individual to the success of a business – picking winners – needs to be approached with caution”. This study approaches with a similar intent wherein the stated quote of Burns (2010) will be tested based on the example of Steve Wozniak, whose introduction is subjected to none but the success of Apple Computers that was later known as Apple Incorporation. Entrepreneurial Journey of Steve Wozniak Conception of the Initial Idea Arguably indeed, major proportion of the attention rewarded for the entrepreneurs of Apple was received and retained by Steve Jobs, while the tasks and commemorations designated for the other Steve, intending Steve Wozniak, was drawn behind the stage of lime light. The conception of the idea that gave birth to today’s one of the leading multinationals was brewed with equal intelligence of both the Steves, which Wozniak never fails to accredit to his late partner. However, it must be noted that the viewpoint of Steve Jobs and Steve Wozniak differ substantially when emphasising the instigation of Apple. The idea to build a company for personal computers, enabling better and more convenient features to its common users conceptualised within the group of three, comprising Steve Wozniak, Steve Jobs and Ronald Wayne (Time, 2015). Tales from the history of the company asserts that the idea first came into being in a garage wherein the three used to hangout. Notably, the space had limited significance in the gradual development of Apple and its entrepreneurial concept though (Gibbs, 2014). Gradually, Apple Computers was founded in the association of the three in 1976. Within the age of three-months, Ronald Wayne sold his share and departed leaving the two Steves with 100% share of the newly created company. In the history of modern civilization and computers, Steve Wozniak is credited for the development of Apple II, which was the first among the successfully designed desktop computers. Steve Wozniak, also introduced Apple I, the earlier version of desktop computers, in the year 1976 in the Silicon Valleys Homebrew Computer Club, which led to the contract between Apple and Byte under the leadership of Jobs. This leveraged the financial abilities of the venture that was perceived to have greater opportunities but faced limitations in terms of financial resources. In subsequence, Wozniak single-handedly created Apple II rewarding a major leap to Apple to evolve as the largest IPO since 1956 after Ford to make millionaires in an instant (Founders at Work, 2009). With gradual leaps and bounds, Apple introduced one after another model successfully, such as Macintosh and Apple II (Time, 2015). Not to be ignored, the leadership strategies adopted by Steve Jobs rewarded pace to Apple’s entrepreneurial journey while the contribution made by the technical expertise of Steve Wozniak helped crystallise the success and strengthen the foundation of their venture. Start-Up and Growth The entrepreneurial journey of Steve Wozniak began since the inception of Apple Computers in 1976 when he invented Apple I. It was but on the insist of Steve Jobs to celebrate the success of Wozniak’s design that he agreed upon selling the machine and showcasing it in the Silicon Valleys Homebrew Computer Club held that year. To be noted in this regard, since the initial days, Apple was subjected to various challenges, which also counted competition as one of the serious concerns. Differentiation of Apple I in the club proved it to an extent that made both these entrepreneurs realize the need for finance for their venture. It was during this phase that Jobs signed a contract with Byte, one of the then leading computer manufacturing companies. This contract accordingly assisted the venture with adequate financial resources, and in 1977, Apple II was introduced. In comparison to other available computers for personal use, the design of Apple II was much attractive, adding to the convenience of its users. Apple II was entirely developed and designed by Steve Wozniak that dictated his technical abilities to create a profound impression on his audiences. It was with Apple II that the brand began to retain loyal customers and established its image within the US technology industry, short from building its global repute. While this was the scenario in its business to customer domain, its business-to-business progress also flourished with the introduction of Apple II and correspondingly with the invention of Apple Disk II by Steve Wozniak, which was the most inexpensive of floppy drives available then. Following the successful establishment of Steve Wozniak’s designs, their entrepreneurial venture started taking shape with employees and a firm board structure. However, growth of the company was also subjected to various challenges ranging from socio-political issues that forced it to lay-off employees within few years of its instigation to the leadership issues when Wozniak was affected due to a plane crash and Jobs had to act as the chairman of the company (Glen Stanford, 2015). On a positive note however, the leadership strategies of Jobs in association with the technical abilities of Wozniak led the company to evolve as one of the most successful multinationals in the history until date. Discussion in Lieu of Burns’ Assertion According to Burns (2010), there are precisely, three sets of elements, which tend to have an influence on the start-up success. These comprise of the personal characteristic traits of the entrepreneur, antecedent influences and the situational influences (as depicted through the chart below). Figure 1: Start-Up Influences Source: Burns (2010, pp. 34) When stressing upon these factors, need for achievement and independence can be identified as strongly influential. To be noted in this context, Steve Wozniak was already employed in Hewlett-Packard and could have a good opportunity of growth working for the company. However, it was due to his needs for achievement and independence that he dropped out of his employment and gave full-time to the entrepreneurial idea (Founders at Work, 2009). It was also his opportunistic drive, which helped him look beyond the then present growth potentials in the technology industry. He was innovative and self-confident too that led to his unmistaken understanding of market demands, assuring that his designed hardware and software programs met the customers’ needs. Correspondingly, when considering the situational factors, it must be noted that economic opportunity was the sole element that had un-ignorable influence on Steve Wozniak’s entrepreneurial journey. Neither was he unemployed, nor did he had any immigration issue – thus, his strongest social motivation to start-up an entrepreneurial venture was to realise the economic opportunities he could identify in the then market scenario. Besides, antecedent influences played a crucial role in ensuring his successful entrepreneurial journey. The young life of Steve Wozniak reveals that his father was an engineer in the Silicon Valley. He also had considerable interests in science and engineering since a very young age, as he completed his education in computer sciences. He also had his employment in the related field that also brushed his talent to perfection. Concerning the social group he was most influenced by, the team involved innovative personalities such as Steve Jobs and Ronald Wayne. Even when among common friends and in a larger social circle, Steve Wozniak was often praised and recognised for his expertise in computer science (Ricket, n.d.). Having noted the mentioned influences on Steve Wozniak’s career, Burns’ assertion seems to be justified and practically rational. However, not all the factors could be observed as influential in the entrepreneurial journey of Steve Wozniak. To be noted in this regard, the absence of the unstated elements barely had a negative effect on the success potentials of Steve Wozniak, as most of those were sufficed by the skills and competencies of Steve Jobs. Hence, this particular finding indicates an inference in support of Burns’ assertion. Conclusion The analysis conducted above, with reference to the entrepreneurial journey of Steve Wozniak concludes in support of Burns’ assertion. Considering the conceptualisation of entrepreneurial idea that was brewed by Steve Jobs and Steve Wozniak, many start-up influences were observed throughout his entrepreneurial journey. However, it must be considered that not all these influences were present in the journey of Steve Wozniak, which also offers a realistic purview to the assertion. Conclusively, it is noteworthy in the context that the success of entrepreneurial journey experienced by Steve Wozniak depended largely on the way he put his strengths into use, whether it be his personal character traits, situational or antecedent influences. References Burns, P., 2010. Entrepreneurship and Small Business. Palgrave Macmillan. Founders at Work, 2009. Interview: Steve Wozniak, Co-Founder, Apple Computer. Steve Wozniak. [Online] Available at: http://www.foundersatwork.com/steve-wozniak.html [Accessed March 24, 2015]. Glen Stanford, 2015. Company History: 1976-1981. Apple History. [Online] Available at: http://apple-history.com/h1 [Accessed March 24, 2015]. Gibbs, S., 2014. Steve Wozniak: Apple Starting In a Garage Is a Myth. The Guardian. [Online] Available at: http://www.theguardian.com/technology/2014/dec/05/steve-wozniak-apple-starting-in-a-garage-is-a-myth [Accessed March 24, 2015]. Linzmayer, O. W., 2004. Apple Confidential 2.0: The Definitive History of the Worlds Most Colorful Company. No Starch Press. Ricket, J., No Date. An Interview with Steve Wozniak. San Jose Mercury News. [Online] Available at: http://www.thetech.org/exhibits/online/revolution/wozniak/i_a.html [Accessed March 24, 2015]. Time, 2015. The Apple Revolution: 10 Key Moments. Article. [Online] Available at: http://content.time.com/time/specials/packages/article/0,28804,1873486_1873491_1873480,00.html [Accessed March 24, 2015]. Read More