Apple Inc. started off as a small company, but is now expanded to an international market base. I view this venture as an entrepreneurial company not only for its climb in society, but because it fits Joseph Schumpeter’s definition of entrepreneurship and exhibits appropriate characteristics.
It all starts with Steve Jobs and his partners. These men, who became iconic entrepreneurs, decided to undertake a business and assume associated risks. They evolved the company into one that is worthy to fit Joseph Schumpeter definition that relates a company to being extensively innovative. Apple has always had targets to produce new products through cost efficient production methods for different markets all over the world, while looking for more effective forms of organization. Upon the start up of the company in 1976, where society that may not be ready to induct computer technology, there were high risks for Jobs and his partners. Since then they have had to deal with the risks associated with being in highly competitive markets, where there is a large uncertainty surrounding consumer loyalty. But because of constant innovation, Apple Inc’s profits are reaching 25.9 billion american dollars which is a key indicator of its entrepreneurial base.
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