Analysis of Steve Jobs as an entrepreneur - Essay Example

Analysis of Steve Jobs as an Entrepreneur Analysis of Steve Jobs as an Entrepreneur Based on Sarasvathy’s Work on Effectuation Steve Jobs, the CEO of Apple Computer, is recognised as a leader in the segment of personal computing which he ‘co-founded’ with Steve Wozniak in the year 1976 (Vader, 2010). Steve Jobs’ vision was to build a “computer for the rest of us”. This idea sparked a revolution in the personal computer segment. This endeavour in due course of time has made Apple an ‘icon’ in the business segment of America (Entrepreneur Media, Inc, 2008).

This study will look to analyse Steve Jobs as an entrepreneur by evaluating him with Saras D. Sarasvathy’s work on ‘Effectuation: Elements of Entrepreneurial Expertise’. The study by Saras D. Sarasvathy (2003) was done with an endeavour to seek an answer to question related to the fact that ‘what makes a successful entrepreneur’s brain different from the average person’ (Young Money, LLC, 2011). The main findings of the study were related to ‘process elements of entrepreneurial expertise’, ‘principles of entrepreneurial expertise’, and ‘effectuation: the logic of entrepreneurial expertise’ (Sarasvathy, 2003).

The conclusion that Saras D. Sarasvathy derived from her research was that most successful entrepreneurs generally rely on the factor of ‘effectual reasoning’. It means that they primarily define their goals based on the choices as well as the means they are provided with. Successful entrepreneurs are observed to be brilliant improvisers. They generally do not start their business venture with tangible goals, but they look to constantly assess situation to find ways to make most effective utilisation of the available resources.

They look to use their personal strengths in order to develop different goals extemporaneously. Therefore, from the findings it was assessed that successful entrepreneurs are quick on their feet, keep a sound mind and work through different obstacles with comparative ease. Their endeavours also generally have an impact on a plethora of people (Young Money, LLC, 2011). The above discussed various characteristics were evident in the entrepreneurial decision making by Steve Jobs and the way he conducted his business activities.

An entrepreneur can be assessed by the quote given by Erica Jong, “Everyone has a talent. What is rare is the courage to nurture it in solitude and to follow the talent to the dark places where it leads” (iWise, 2011). Steve Jobs as an entrepreneur believes in 12 factors that can result in success such as ‘do what you love to do’, be different and do your best, making a SWOT analysis of the place of work, being entrepreneurial, starting small but thinking big, striving always to become a ‘market leader’, focusing on the outcome and asking for feedback, learning from failures, innovating and looking to learn on a continuous basis.

Therefore, from this it can be said that Saras D. Sarasvathy’s findings are almost all concurring with the ideas presented by Steve Jobs (Kotelnikov, 2011). Steve Jobs, in the early phase of his entrepreneurial days with Apple stepped aside from running the daily activities of Apple in favour of a person with greater managerial background. He later reinstated himself as the CEO of Apple when he was more experienced. This incident highlights the improvising qualities of Steve Jobs (Blanding, 2011).

Steve Jobs’ help was again sought by Apple when the organisation’s sales were plummeting rapidly, and Steve Jobs engineered a remarkable turnaround for Apple with his visionary skills and his ability to make best use of the available resources (Entrepreneur Media, Inc, 2008). Therefore, the analysis has revealed that Steve Jobs, as an entrepreneur holds all the key facets of a person with shrewd mind, adaptability and quick thinking ability; the same factors that were highlighted by Saras D.

Sarasvathy in her research study. References Blanding, M., 2011. The Mind of the Entrepreneur. John Hopkins Carey Business School. [Online] Available at: http://carey.jhu.edu/one/2010/fall/the-mind-of-the-entrepreneur/ [Accessed March 22, 2011]. Entrepreneur Media, Inc, 2008. Steve Jobs The Comeback Kid. Home. [Online] Available at: http://www.entrepreneur.com/growyourbusiness/radicalsandvisionaries/article197538.html [Accessed March 22, 2011]. iWise, 2011. Erica Jong Wisdom Feed. Categories.

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