An entrepreneur is defined as one who “combining various input factors in an innovative manner to generate value to the customer with the hope that this value will exceed the cost of the input factors, thus generating superior returns that result in the creation of wealth”, by the Austrian economist Joseph Schumpeter. Bill Gates, the co-founder of Microsoft Corp. is definitely one of most successful entrepreneurs in the world. The company exhibits some of the most prominent characteristics of an entrepreneurial company: developing new products and opening new markets. The amount of value generated by Microsoft is immense, which greatly benefits our society in helping to create a globally-connected digital world. One of the main differences between entrepreneurs and managers is the willingness for entrepreneurs to get involved in new areas of business and take on risks–Bill Gates is a clear example of this.
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