Apple is considered to be entrepreneurial because the company exhibits many characteristics based on the class reading. Apple’s main entrepreneurial element is innovation; other ventures include the company’s wealth creation generated by several million dollars in profit, rapid wealth generation in a short time frame, high risks, and the competitive advantage that innovation ensues over small businesses. Innovation is an emphasis that entrepreneurs highlight, which is an input factor that Apple capitalizes on. Apple is one of the foremost companies in technological advancements as the retail giant constantly develops new products, new production methods, new markets, and new forms of organization. Based on Schumpeter’s definition of entrepreneurship, the function of an entrepreneur expects that the cost of inputs is recovered by the superior returns received from the value that consumers place on the innovative factors of the product or service. Steve Jobs, co-founder of Apple, was an entrepreneur’s inspiration; he revolutionized the information technology industry. Thus, Jobs was deemed as “the most innovative entrepreneur of our generation” (Globe and Mail).

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