Definition of Entrepreneur An entrepreneur is when someone who exercises initiative by organising a venture to take benefits of an opportunity and as the decision maker , decides what, how, and how much of a good or service will be produced. An entrepreneur supplies risk capital as a risk taker, and monitors and controls the business activities. The entrepreneur is usually a sole proprietor, a partner, or the one who owns the majority of shares in an incorporated venture.
Walt Disney Walt Disney was born in Chicago, Illinois on December 5, 1901 As a child, Walt enjoyed drawing, and when he was seven years old, he would draw and sell sketches to his neighbour's. Laugh-o-grams was Walt first company but unfortunately it had failed as the company went bankrupt, so Walt decided to move to Hollywood and find a studio there He partnered with his brother Roy, and started a new studio in Roy’s garage. He sent his animated Alice Comedies to Margaret Winkler, a distributor in New York. She wrote back asking for more. He soon became a recognized Hollywood figure Over the next five years, Walt Disney Studios completed other full-length animated classics such as Pinocchio, Fantasia, Dumbo, and Bambi. Waltz dream was to open an amusement park for families, his dream had come true as Disneyland park opened in 1955 Anaheim California. Walt had another dream, to create the perfect city; he called it EPCOT (Experimental Prototype Community of Tomorrow. Unfortunately, Walt would never live to see this dream fulfilled, as on December 15, 1966 he passed away. His brother continued the Florida project, naming it Walt Disney World, which opened in October of 1971
James Clark Dr. James H. Clark, while most famous for founding Netscape; began his entrepreneur dream many years earlier. He formed Silicon Graphics, Inc in 1982 along with 6 Stanford graduate students and Abbey Silverstone. In 1992 Silicon Graphics bought Mips Computer in a $400M stock swap. Clark was able to use MIPS CPU as the foundation of their newest workstations. Silicon Graphics became the world leader in the production of Hollywood movie visual effects and 3-D imaging. Netscape was forced, in January 1998, to make their browser free. The further development of the browser would move to an open-source process. The Mozilla project began. Then in November 1998, AOL bought Netscape. Clark continued to be an active entrepreneur. In 1999, Clark launched myCFO – a company to help wealthy individuals manage their fortunes. He sold the company for a third of his initial investment to Harris Bank in late 2002.
AzimPremji Wipro Products Ltd was run by Premji’s father. In 1966, Pemji was completing his degree in engineering at Stanford University when his father died. He later was able to finish getting his degree in electrical engineering with correspondence courses. .Just 21, Premji took over the family oil business Wipro is the largest outsourcing company in India and its research and development unit is the world largest independent group. Under Pemji’s guidance, Wipro grew from a $1.5 million oil company to a $662 million diversified conglomerate. Pemji has been awarded numerous honors 2005, he received one of his countries highest honors for a civilian, the Padmabhushana. He is a member of the Prime Minister’s Advisory Committee for Information Technology in India. Established by Premji in 2001, the AzimPremji Foundation focuses on quality education to build a just, equitable and humane society. 1.8 million children are partaking in various programs. Over 70 educational CD’s have been created for Indian schools.
Debbi Fields In 1969, at the age of 13, Debbi secured her first employment as a ‘ballgirl’ for the Oakland A’s baseball team. She used her wages to buy ingredients to enjoy her favorite past time of baking cookies. Debbi realized her childhood dream of opening her own ‘cookie stand’. With the help of her husband, they were able to convince a bank to finance her venture and in August of that year (1976) she opened Mrs. Fields Chocolate Chippery in Palo Alto California. The first of its kind, the store was not a typical bakery; its main product line was a cookie. new concept of a shop dedicated to just cookies caught on rather quickly and soon the business was a booming success. In 1989, Debbi used a state of the art computer system to streamline operations and production schedules for her cookies. The same program is in use as a model for business efficiency at Harvard Business School Debbi went from baking and managing one small store in Palo Alto to franchising more than 900 stores worldwide. In 1993, after watching her dream escalate to a worldwide entity and her name become a household word, she sold her investment in Mrs. Fields Cookies to private investors.
greatly value self-reliance strive for distinction through excellence are highly optimistic (otherwise nothing would be undertaken) always favour challenges of medium risk (neither too easy, nor ruinous).