Best Management Summary 2022

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Management

Executive summary
In the recent time, it is found that entrepreneur is required to go through several phase in
order to grow effectively and build its name in the market. Bill Gates is proved to be the most
significant entrepreneur whose story is inspiring. Bill Gates has given the biggest example in
the history of success and innovation by its work. In the literature review, discussion has been
carried on the Bill Gates by explaining the different aspects of innovation and
entrepreneurship. Discussion has started with explaining the background of Bill Gates. In its
background part, Bill Gates as well as his family description has been given. Afterwards, the
success story of Bill Gates Company as well as its early childhood days has been discussed.
The innovative capabilities of Bill Gates has been discussed in order to get the better
understanding regarding innovation capabilities required in a success entrepreneur. A depth
review has been done on the key mind set, capabilities and actions of Bill Gates has been
done to know the innovation. The successful initiative of Bill Gates has been known by the
effective discussion. It is true that different motivators are responsible for bringing the
innovation in different aspects. At the starting of any business, entrepreneur has to come
across different challenges that present in the environment. Besides Bill Gates, several other
success entrepreneurs has also been discussed whose ideas has brought them success.

Contents
Bill Gates: chosen entrepreneur............................................................................................................1
Executive summary...............................................................................................................................1
Bill Gates: chosen entrepreneur............................................................................................................3
Successful innovation and entrepreneurship journey of bill Gates.......................................................5
Conclusion.............................................................................................................................................8
References...........................................................................................................................................10

Bill Gates: chosen entrepreneur
Introduction
Entrepreneurship is the biggest form of identifying the gap presented in the market and bring
some innovative idea in order to bring something productive and improve the life of people
thereby. Several authors have identified that an entrepreneur is required to think out of the
box in order to do something productivity in the world. as compare to this, Parker (2018) has
stated entrepreneurship is also said to be the action of an entrepreneur who always tried its
best to search some new opportunities by accepting the uncertainty and risk. It has also said
entrepreneurship as the economic activity that involves the operation and creation of the
enterprise in order to create value by ensuring the proper utilisation of resources. Bennett
(2012) has come up with the certain features of entrepreneurship. It identified that the
entrepreneurship is the regular search of the new and innovative ideas. It has led out the
importance of innovation in entrepreneurship so that more effective and efficient system can
be adopted. Entrepreneurs in this way are said to be the persons who firstly able to recognise
the opportunities when others are in confusion. They therefore said to be the innovator by
bring some innovative change in the marketplace. A person can be entrepreneur when it has
the ability to bring out the deep research regarding any uncertain thing.
Bill Gates was born on 24 October in the upper middle class family. Bill Gates was more
focused on the present time. Therefore, its plan was proved to be realistic when he invented
Microsoft. This is one reason Bill Gates has earned the high amount of profit and proved to
be one of the rich man of the World. Bill Gates father William H. Gates is Seattle lawyer and
mother named Mary Gates was the school teacher in the university of Washington region. At
the young age of 13, Bill Gates started his career in the programming personal computer.
Besides this, it was also given emphasis on his vision that made him market leader in the
software industry (Wallace and Erickson, 2012).
The vision of the Bill Gates was that every household as well as business, must have
computer. As per the vision, he was able to tackle the world in similar way. as compare to
this, the vision of Steve Jobs was to bring the top most and personal computing experience
for all the users across the world. Moreover, Bill Gates made the operative system that was
sole to IMB. This vision was proved to be quite helpful for the Bill Gates. Bill Gates is an

American programmer, entrepreneur, philanthropist and investor. Bill Gates and Paul Allen
have founded the Microsoft that is the first and foremost software company in the world. Bill
Gates is the second richest person on the earth. Bill Gates was born in Seattle Washington in
the year 1955, 28 October. Bill Gates built the first computer program.
Jackson (2015) have stated the certain significant entrepreneurship capabilities. The first
quality founded by the author is moving fast and ensuring continuous innovation. Bill Gates
also keep itself focus on the regular innovation that made him successful in today’s
competitive environment. an entrepreneur is also required to think ahead of the competition. a
successful entrepreneur always think for the future. Bill Gates has also ensured the same by
looking upon the futuristic vision. Bill Gates has always taught the young entrepreneur to
value the time that they have. The tagline of Bill Gates also states the same that “No matter
how much time you have, you cant’s buy more time.” Westhead and Wright (2013 also come
across several other capabilities that is required for a success entrepreneur. It has stated to
learn from the mistakes. Bill Gates has also suggested the same a person should accept the
failure and learn from the mistakes done by him or her. According to Bill Gates, failure is as
much important as much the success is. The major capability in an entrepreneur is to take risk
and never giving up. An entrepreneur should not shy to think out of the box. This similar
capability has led the Bill Gates to take the risk by making Microsoft where no one knew too
much about computer. In spite of the tough circumstances, it is quality of an effective
entrepreneur is to never give up. Bill Gates has also learned several things from the failure
but always moved further in order to launch Microsoft.
Innovation is the biggest part of any entrepreneur to achieve success. Bill Gates is the biggest
example that led the innovation capabilities. Tidd and Bessant (2018) has highlighted that the
time when no one was thinking even about the computer system, Bill Gates come across by
thinking out of the box. In addition to its business interest, Bill Gates was inspired by the
software application and its potential to improve the livelihood across each category of
business. Author has also taken the assistance of Schumpeter theory of innovation. This is the
well theory of innovation related to entrepreneurship. Bill Gates innovation has also ensured
the rapid development in the economy. Similarly, Bill Gates has also said to be innovator
who has ordinary managerial skills. The time when Bill Gates come up with the idea of
Microsoft directly depicts that the imagination of person is beyond the expectations. At that
time, people even can’t think of this level of innovation that Bill Gates has brought. Due to

this, it is clear that Bill Gates was having the perception of better future (Gordon, Harvey,
Shaw and Maclean, 2016).
Successful innovation and entrepreneurship journey of bill Gates
In the book of Bird (2019) it has stated that innovation is the significant part in
entrepreneurship. In the recent competitive world, innovative ideas are significant part to
bring growth. It has also stated building a strong connection with customers. For the long
term relationship with the customers, it is significant for the entrepreneur to bring innovation
in several ways. As per Schumpeter theory of innovation, it is found that the innovation is
said to such policy that an entrepreneur adopts for reducing the cost of production. The
innovation theory of profit said that the entrepreneur gain huge amount of profit if innovation
that is carried on tends to reduce the overall cost of production. In this regard, Read,
Sarasvathy Dew and Wiltbank (2016) has also highlighted that an entrepreneur can earn huge
profit if law allow them to patent their innovation.
The first exposure related to computer brought by Bill Gates when he attended the
“Prestigious Lakeside School in Seattle.” Bill Gates has been given the offer by a local
company, through the Teletype Link. Bill Gates always ditches the class with its fellow
student Paul Allen in order to work in the computer room. Both these tends then given the
offer of around $20,000 for the program rate was developed for measuring the traffic flow in
the area of Seattle.
The interest of Bill Gates for computer programming has motivated it to pursue its career.
Bill Gates pursued it passion from the college only. with the help of keen business strategy,
technological innovation, and business tactics, it is able built the world’s biggest software
business named Microsoft.
In June 1975, Bill Gates was able to create the software development by naming it as
Microsoft. In the starting company has however faced some of the difficulties. In the year
1976, Microsoft has become independent and started to develop the programming language
software for its several systems. In the starting days of the Microsoft, every employee was
having the responsibility of its business. In 1980, when IBM have asked Microsoft to come
up with the significant software. Due to this, Microsoft has purchased the operating system
from other company and then renamed it as the MS-DOS. The selling of MS-DOS has made
Microsoft a biggest player in the industry. the company restructuring was seen by Bill Gates

on June 25 in the year 1981. Between the year 1979 and 1981, the staff members of
Microsoft has been increased from 25 to 128. After the several years, Windows started to
dominating the personal computer by acquiring the 90 per cent of the market share. Apple has
also helped the Microsoft to get full access of their technologies. Bill Gates has also given the
advice to Apple for license their system but Apple has ignored. After this, Gates has taken the
benefit of this situation by creating the new software format (Cusomano, 2016).
It is true when any entrepreneur start its journey several factors affect them. the major factor
that affect an entrepreneur is the economy of that country. It is required by the entrepreneur
to work in a prosperous economy in order to gain the positive insights. Capital is the most
significant factor that tends to affect the establishment of any enterprise. Without significant
capital, it is not possible for the entrepreneur to initiative its journey and bring success.
Skilled and competent labour is also required to ensure the growth of entrepreneurship. In
spite of this, a significant partner is also required that can assist the person in best manner to
grow effectively. The role of market is quite significant for the growth of any entrepreneur
for survive in this competitive world. Bill Gates has also effectively ensured the research and
development in order to find out the opportunities that are available in America. After finding
out the lack of technological innovation, it has taken the initiative to bring the concept of
computer in order to improve the lives of people. When Bill Gates with one of its collage
colleague has converted the basic, that is popular mainframe in the programming language.
After the next few years, they also worked on the several other programming languages. It is
seen that the Bill Gates has created the similar software format to Mcintosh. Due to this,
Apple also threatened it that further led Microsoft to delay the shipment of it. Due to this, it is
clear that the legal laws can affect the entrepreneur when it does not aware of the rules. Under
the social or cultural factor, education is the most significant factor. In order to improve the
level of education, Bill Gates has decided to bring innovation with the help of computer
system (Sanchez and Sivaram, 2017).
Bill Gates motivated by several factors. Intrinsic motivation has forced the Bill Gates to bring
some innovative ideas. It has seen the poor education system of America has motivated it to
do something. Bill Gates has stated that the funding in the innovative ideas can help in
removing these kind of barriers. It has always stated that it better to walk on the road that is
not taken. the innovative mind set helps the person on achieving success. This belief theory
of Bill Gates has brought him the success related to the personal computing. Bill Gates has
also stated that he had high dreams. Besides this, Bill Gates has believed in learning new

things at the time of school only. due to this reason only, he dropped from the Harvard to start
a company. In spite of the less technological advancement, Bill Gates thinks bog to ensure
the success (Kuratko, 2016).
Money was the biggest motivator for Bill Gates. It has stated that money is the most
significant thing. By ensuring the use of money in effective manner, it has said that he can
share his significant wealth with the people who are in need. Bill Gates significantly knows
how to do business. Besides the several biggest software companies, it was the Bill Gates
who was able to ensure innovation. Bill Gates was able to make Microsoft as the lasting
empire. Bill Gates always has the dream to do something good. It is the biggest motivator in
the mind of Bill Gates. In the words of Smith and Boje (2017) a good motivation is required
for a person to bring something good for the people.
Chou (2018) has founded that Bill Gates had several qualities that brought the innovation.
Bill Gates always focused on the one thing that is best known by him named software. Due to
this, it has always worked hardly making it the top priority. Bill Gates has always taken the
practical approach at the time of setting goal. Bill has always undertaken the step based
approach in order to make great progress regards to its vision. With this leadership style, Bill
has stated that a person take one step at a time in spite of directly jumping to the top. In the
perception of Bill Gates, it is beneficial to take the small steps. In spite of straying in the
comfort zone, Gates has always encouraged itself in order to embrace the creativity. The
leadership style of Bill Gates has always worked hard to empower people due to the ability of
Gates to bring some new opportunity. Several people have followed Bill Gates because of the
charisma he had. These initiating qualities of Bill Gates have made him the successful
entrepreneur. Instead of staying in the comfort zone, Bill Gates has always encouraged itself
(Bedi, 2018).
It is true that consumers and communities have impacted the ideas of different entrepreneurs.
Consumers were continuously demand some technological advancements. This ahs led the
Apple to come up with first ever user friendly as well as innovative means of accessing
music. Apple has also come up with the iTune program that has gave the easy access to
consumers for purchasing several songs in one device. Job, a successful entrepreneur also
comes up with the Apple iPhone. Due to the demand of several features in one phone, it has
given the emphasis on Steve to cope up with technological advancement and include different
features in one phone. Apple is not only considered to be innovative but also considered to be

environmental friendly. It has also taken care of the community by promoting the use of
environmental friendly products and using recycle paper and plastics in its products for
conserving the global resources (Storey, 2016). In the recent time, several changes has been
occurred in terms of environmental and customer factor. Customers are also demanding
several changes due to the increasing technological innovation. Companies are also required
to undertake their proper research regarding the environmental trends. Any company want to
enter in the market, it is firstly beneficial to know the demand of customers as well as
environmental sustainability measures that it has to take as per the government laws of that
country.
Another success entrepreneur is Bill Gates, around 20 years ago, Microsoft has changed the
world by bringing the Windows 95 to the world. Consumer has always demanded the
technological advancement due to this Microsoft has shaped the technology for around two
decades. The introduction of start menu feature has become so much popular. Microsoft has
become the face of revolution by becoming the biggest company of the world in 1998.
Microsoft was the only company who have huge number of innovative and brilliant ideas.
Mark Zukerberg is another successful entrepreneur that has proved to be successful by
ensuring innovation and suing consumer led approach. Mark Zukerberg has always tried it
best to find out the best for the world. Due to the shift in the demand of consumers, Mark had
come up with Facebook to become a social hub for the people. This social hub has helped the
people to connect across the world at any time. when Facebook was not launched, Mark has
identified that people can find information but they could not connect with the people that
care about. This customer led approach has forced the Mark to come up with some good
business idea (Duchek, 2018).
Conclusion
In the limelight of above discussion, it can be concluded that entrepreneur is required to
possess several skills in order to ensure the innovative capability in the market. Bill Gates has
proved to be the significant entrepreneur by using its innovative mind set. The major quality
that is found from the Bill Gates is the passion and value for time. Passion is something that
motivates a person to come up with some innovative idea. At the time of school only, Bill
Gates was able to generate its interest in computer programming. This was the major reason it
tends to find out the significant interest in this era. Bill Gates has always dreamed for doing
something better for the people of society. This customer led approach of Bill Gates has

ensured the successful running of the Bill gates dreams. From the analysis, it is also found
that the dedication and passion are two most important element for the Bill Gates to come up
with the innovative idea. In this way, it can be stated that Bill Gates has inspire so many
people from its character and life traits. It has taught the people to do hard work until their
goal is not achieved. The resilience and drive has led the Bill Gates to achieve so many
achievements. In the recent time, Bill Gates is seen as the most successful entrepreneur of all
the time. due to its innovative thinking and passion, it left the remarkable name in the mind
of entrepreneur who wish to bring some innovation in the recent time.

References
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theory. American Economic Review, 105(5), pp.94-99.
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