The main aim of this paper is to investigate the success behind the companies which who succeed in entrepreneurship by new innovation and creation. This paper has two parts, first part explains about entrepreneurship by quoting some famous definition. Second part illustrates a short discussion about the examples that I choose to define the entrepreneurship the best. The examples that I select for doing this research is Nike and Apple the famous American multinational companies. The second part explains about the principles of entrepreneurship in relation to these companies. Last part illustrates the recommendation and conclusion that I reached at the end of this research.
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As a dynamic force for change, entrepreneurship is increasingly expected to contribute to this goal. < Business Venturing, vol.25. pg.510 >.
According to the Austrian economist Joseph Schumpeter’s point of view, entrepreneurship placed an emphasis on innovation such as: new products, new products methods, new markets, and new forms of organization. Wealth is created when such innovation results in new demand. From this point of view, one can define the function of the entrepreneur as one of 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 creation of wealth.
In the discussion section I am going to introduce my two successful American multinational companies to explain the term entrepreneurship.
* NIKE – the famous American multinational company, it is the world’s leading supplier of athletic shoes and apparel and a major manufacturer of sports equipment. The company Nike initially operated as a distributor for Japanese shoe maker Onitsuka Tiger (now ASICS), making most sales at track meets out of Knight’s automobile. Together, Nike and Wieden +Kennedy have created many print and television advertisements, and Wieden + Kennedy remains Nike’s primary ad agency. Throughout the 1980s, Nike expanded its product line to encompass many sports and regions throughout the world. Nike produces a wide range of sports equipment. Their first products were track running shoes
* APPLE - Famous American multinational company founded on April 1976 by Steve Jobs that designs, develops, and sells consumer electronics, computer software, and personal computers. The word "Computer" was removed from its name because of the new innovation and ideas in the company. It helps to reflect its shifted focus towards consumer electronics after the introduction of the iPhone. Its best-known hardware products are the Macline of computers, the iPod, the iPhone and the iPad. Apple is the world's third-largest mobile phone maker after Samsung and Nokia.
In this section I am going to discuss some research points that I found in relation with entrepreneurship.
The most well-known American companies – such Coca-Cola, Nike, Apple and McDonald’s – all have significant overseas footprints. It is very important that where you start and run your business has a proven impact on the potential for your success. Very simply, it is a repositioning of where the business stands. For example: repositioning itself from being for nerds to being cool made Apple the best company ever.
PRINCIPLES OF ENTREPRENEURSHIP
The best example which helps to explain the principles of entrepreneurship is entrepreneur Steve Jobs, who co-founded Apple in 1976, and the subsequent revolution in desktop computers.
The most competitive ingredient that any business has is its people. It follows that the...