By : Martin Cheruiyot Ketienya
Table of Contents
1.1 Early life
1.2 The founding of Apple Inc.
1.3 The founding of NeXT inc.
1.4 The acquisition of Pixar
1.5 Return to Apple Inc.
1.6 The successes of Apple Inc.
Steve Jobs’ entrepreneurial profile
Preference for moderate risk
Value of achievement over money
2.3 Future orientation
Confidence in his ability to succeed
2.5 High level of energy
Skilled at organizing
1.1 Early life
The late Steve Paul Jobs born (1955-2011) was certainly an entrepreneur of repute. From a humble beginning with just a knack for electronics and a passion for entrepreneurship to a co-founder of three world business empires is a fete worth of note. He was born to two Wisconsin University graduates who gave him up for adoption. Jobs started as a student without a dormitory, sleeping on his friend’s dormitory floors and returning bottles for meals because his foster parents could not afford. He co-founded and owned three major companies at certain points of his life: Apple Inc., NeXT Inc. and Pixar Inc. He was also a member of the Board of Directors at Walt Disney Company after it acquired Pixar Inc. in 2006.He married Laurene Powell in 1991 and had four children. The journey to the limelight; however, was not a smooth one. It was marred with several corporate failures, challenges, obstacles, and doubt. Each time he was on the brink of success he faced setbacks that cost him decades of hard work and sacrifice. Before venturing in his entrepreneurial career, he showed flair for electronics as early as 1969 at an age of 14 years in High School. Engineers from Hewlett Packard Inc. (HP) played a great role in his life, introducing him to electronics. One of his co-founders in Apple Inc., Steve Wozniak, an expert in electronics was from HP. They started making computers with spare electronics parts at an early age. Their work was spurred by a journalist who noticed their work and interviewed them in a neighborhood garage. Jobs and Wozniak invented gadgets called “blue boxes” for hacking telephone equipment that enabled users to make free long distance calls. They sold several units before they were limited by illegality of the business. 1.2 The founding of Apple Inc.
Start-up capital was a major obstacle during the initial stages. Steve Wozniak resigned from HP and sold his HP calculator for $500 while Jobs sold his Volkswagen for $500.Another investor ,an engineer from Atari convinced by Jobs’ ingenuity bought 10% of the company while Job and Wozniak owned 45% apiece. In an interview by the New York Time Wozniak summarized what was to follow in a phrase to show the hardships they encountered,
“Nothing was so great and so unexpected”
The venture (then called Apple Computer Inc.) sold 50 units at $ 500 each in its first sale of the Apple I generation of computers in 1976.Apple II project, an upgrade of Apple I was immediately launched. It turned out to be a success; selling 8000 units by end of 1978.The Company could then afford to hire a public relations agency to take care of advertising. By 1978, the company was worth $3,000,000.Mike Scott was hired as president of the company. In the following year the company sold 35,000 units and was recognized as a pioneer in computer technology. The company targeted the education sector and was the only producers of personal computers then. Schools taught the BASIC programming language that was used by Apple Inc. This, in addition to the Visicale Spreadsheet that was exclusive to Apple II was a success until the entry of IBM (International Business Machines) in 1981. In 1985, a moment Jobs describes as the darkest period in his life, he was fired from Apple Computer Inc. Every single board member voted him out as leader of the Macintosh project. He only retained his position as chairman of...
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