The Entreprenurial Process

Introduction

The Entrepreneur is, “an individual who takes initiative to bundle resources in innovative ways and is willing to bear the risk and/or uncertainty to act” (Hisrich, 2013). The entrepreneurial process is unique onto itself; for it does not merely involve the taking of tremendous risks, but also evokes some of the most creative and innovative characteristics of the individual. This dynamic process pushes the aspiring entrepreneur to his/her limits in a quest to take full advantage of particularly identified available opportunities in the marketplace. Among the entrepreneur’s objective is to adopt and effectively implement processes and procedures which would grant him/her the ability to meet the needs of potential customers. Furthermore, as the entrepreneur toils away in an effort geared towards creating something new or adding value to a product or service; the ultimate goal is the success acquisition of significant wealth. For the aspiring entrepreneur there are various successful examples of “Corporate Entrepreneurship” which can serve as sources of motivation. Some of these Corporate Entrepreneurships include: Hewlett-Packard Company, Microsoft Corporation, Apple Inc, and Dell Computers Inc.

Hewlett-Packard

In 1934 Bill Hewlett and Dave Packard graduate from Stanford University; shortly thereafter Packard takes up duties working for General Electric Schenectady, New York while Hewlett completes graduate work at MIT and returns to Palo Alto, California (Hp Garage Timeline, 2014). During 1937/38 Bill Hewlett and Dave Packard join forces having their first official business meeting and embarking on developing HP’s first product, an audio oscillator. Between 1939-1940 Hewlett and Packard formalize their partnershi...

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