Profiling the Entrepreneur

Profiling the Entrepreneur - Profiling the Entrepreneur...

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Profiling the Entrepreneur John G. Burch l3 G. Burch is a professor ol a(Tount- ing arrl inforrnatio,i s_"-stemr at the Uni- versitv of Nevada in Reno. His nrost rcceltt btxrki are Erdrdn'cneurshib and the fourth editi<rn of Inftiman,n Sr'stnrc: Thcory antl Prucltce ,both published 6y Wiley'this-ycar. Entrepreneurs are the darlings of news anchors, talk show hosts, politicians, and academicians. But just who are the entre- preneurs? And rvhlt makes thenr tick? lrc terrn nilrepreneu.r is a de- rivative of the French rvorcl ntlrepreulra, which mcans "to undertake". 'I he entrepreneur is the one who rrndcrtakes a venture. or- ganizcs it, raise.s capital to finance it, and assunres allor a major portion of the risk. Entreprcneurs also appeilr ter llc' the prirne clrange agents in a society- Who are the entreprerrerrr-s? And rvhat makes them tick? Entrepreneurs: Some Examples 17 olurnbtrs, a true enrreprr- L neur, started Arneritz's de- U{ velopmerrt with backing frorn Queen Isabella, a venture capiralist- From all ovcr the world. aspiring en- trepreneurs-manv of thenr penni- less-represenring different religions, cultures, anr{ etlrrricities, came t() America and played a nrajol role ir-r its development.'l-he entrepreneudal thread is tightly woven into the falrric of Anrer-ican srx:iety. foday ttie entreprcrrcurial bear goes on. Entrepreneuru abourrcl: Ed- son de Castlcl, fourrder of Data Gcn- eral; Georgc Iditchell, fourrder of Mitchell E,rrergv and f)evclopment Oorlnraticrr; An lVang, fbunder of Wang Latroratories; Steven Jobs, co- founder of Apple Computer; l-. . .l- Sevirr, fourrrlcr of Compaq Conr- puters; 'l-cd -I'urner, of l'urner tlroadcasting Systerns: Sarrr- uel lValton, founder of Wal-Marr; Fred Srnith, fbrrnder of l.'ederal Ex- press; and T-rarnmell S. flrow. clevel- oper. I-iterally rhousands o{' otlrcr successful errtrepreneur-s corrld be rnerrtioned- 'l'he point is that these people, arrd nthers like them, creatc changc, pro- vide a variety ofjob opportunides, and also serve as role nrodels to inspire n€w generatiorrs of crrtrcllrencurs. Moreover, they have rcapcd huge re- wards for themselves and the ven[ure capitalists who had the f<rresigl'rt to back them. Thc advcnt o{:prersonal computcrs opened up a \4a$t soft*'are market, and young coillputer wizards clevcloped marketable corrrputer yrftware pack- ages while sitting at rheir home com- puter termirrals. Williarn Llatcs III, cofounder of lr{icrosoft, and Mitctrell D- Kapor. founder of I"otrrs f)evel- oprnent Uorporation, cxcmplilv a budding group of entrepreneue-the new tinkcrers and "in{lre-garagf" in- ventors. IWany harclware niches renrain to be filled. Kevin Jenkins, an account- Buslncst lJorizons / Septemher'-(ktober Illtt6 Copyright @ 2001 All Righb Reserved
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T4 ing graduate, and two Friends founded H ircules Computer -I-echnology with $32,000. The comPany quicklY grew frorn nothing to a $30 rtrillion enter' prise try providing graphfos boards lbr ietailers who sell IBM personal cotn- puters. Furthermore, Persottal computers cr-eate a numbcr of supplemcntarv niches. Uscrs nced training, com- puters require maintenance
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Profiling the Entrepreneur - Profiling the Entrepreneur...

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