MD4044 Entrepreneurship Theory & Practice Report: Management Analysis

This report critically discusses the concept of entrepreneurship, focusing on the roles, ideologies, and behaviors of successful entrepreneurs. It explores the strengths and weaknesses of entrepreneurs, including the potential for difficult behaviors and shady business dealings, while also highlighting the importance of ambition, decision-making, creativity, and innovation. The report provides detailed case studies of Steve Jobs and Larry Page, analyzing their approaches to management and business development, and demonstrating how they embody key entrepreneurial principles. The analysis contrasts their leadership styles and explores the impact of their ideologies on their respective companies, Apple and Google, offering valuable insights into the dynamics of entrepreneurship and management practices.

Running head: MANAGEMENT
Management
Name of the Student
Name of the University
Author’s Note

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Table of Contents
Critical discussion......................................................................................................................2
Entrepreneur...............................................................................................................................4
Entrepreneur 1........................................................................................................................4
Entrepreneur 2........................................................................................................................6
Reference....................................................................................................................................9

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Critical discussion
Entrepreneurship means the ability of an individual to include the concept that
provides a willingness to undertake risks, ownership and organisation of business. According
to Kuratko (2016), the concept helps in addressing the personal as well as social benefits that
can be derived from setting up a business. As observed by Bhachu (2017) the term can be
used to describe the existence of new business entities so that an understanding of the
ideologies of each of the entrepreneurs can be understood. As stated by Kirzner (2015) the
spirit of entrepreneurship is characterised by innovation and ability to take risks in situations
that demand critical analysis. This can be considered as an important factor for the
development and increase of competitiveness in the global market.
One of the strengths of a successful and capable entrepreneur is to be able to identify
the capabilities as well as the limitations of every employee (Cooper 2017). This provides the
entrepreneurs with an opportunity to create a new and successful business. As pointed out by
Burns (2016) the celebration is done by business communities and is encouraged by the
politicians as it helps in the growth of the economy and reduces the social costs related to
unemployment. At the same time, Storey (2016) stated that the limitation that an entrepreneur
possesses might be unnoticed and it is evident that this weakness can be related to the fury
shown in trying to create a proper business.
However, Burns and Dewhurst (2016) pointed out that the difficult behaviour and
shady business dealings can be considered as a downfall for the creation of a successful
business. The success and wealth that an entrepreneur possesses may be due to the hard work
and effort put in for ensuring that a business created can have a positive impact on the society
(Cooper and Folta 2017). Thus, the difficult behaviour is required for ensuring that each of
the employees are loyal to the entrepreneur and provides the best effort for making the

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business a success. Some of the difficult behaviours that are displayed by entrepreneurs
include:
 Being strict with the employees about the performances that is behaving in a
professional manner without providing any room for personal relationships or
attachment
 Make rapid changes so that organisational productivity can improve
 Make decisions without proper consent from the employees may often lead to lack of
employee motivation
 Remain objective of the purpose of the organisation so that the overall target can be
achieved
These behaviours may often lead to lack of motivation among the employees and thus
can jeopardise the growth and success of a business. On the other hand, as stated by Vries
and Manfred (1985) the difficult behaviours can result in the employees to remain disciplined
in an organisation and thus abide by the rules and regulations that are set. In this regard, Read
et al. (2016) stated that the shady dealings undertaken by the entrepreneurs could act as a de-
motivation factor in business.
As observed by Kirzner (2015) dealings such as taking bribe or entering into a
business contract with suppliers can result in suspicious activities within a business. These
dealings are termed as shady mainly because the employees and other stakeholders are kept
in the dark. As observe by Barringer (2015) such dealings can have a negative impact on
business as extra financial services may be required to be provided that may not meet the
budget of an organisation. At the same time, any leak of information about these dealings can
result in the loss of reputation of an organisation and loss of employees. However, Cooper

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(2017) provided a counter argument on the fact that such dealings may sometimes result in
the development of an organisation, particularly at its initial stage.
According to Barringer (2015) the reason for success from these dealings can be
attributed to the fact that financial or resource stability can be gained initially. Hence,
Scarborough (2016) stated that it is necessary to indulge in shady dealings in a limited
manner so that stability of an organisation can be made in terms of the wealth earned and the
success gained. However, Lipset (2018) is of the ideological nature of entrepreneurs needs to
be taken into account so that an effective development of an organisation takes place.
The ideologies of an entrepreneur can be characterised by identifying the spirit that is
followed by the entrepreneurs. Some of the ideologies that are followed by entrepreneurs
include:
 Ambition
 Decision-making
 Creativity
 Innovation
The awareness of these ideologies needs to be such that every employee understands
the concepts that are associated with the development of an organisation (Bhachu 2017).
Such awareness can prevent the entrepreneurs in indulging the shady business dealings as
well as taking decisions that may be deemed as difficult behaviours (Meyer et al. 2017). The
awareness of the ideologies also helps in understanding the characteristics of the employees
and in this regard develops the behaviour that is to be expected from the entrepreneurs.

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Entrepreneur
Entrepreneur 1
According to Schaper (2016), in order to understand the roles and ideologies of an
entrepreneur it is necessary to consider some examples that can help in understanding the
nature of development as well as the manner in which entrepreneurs can motivate an
organisation. In this regard, examples of two such entrepreneurs can be sought as examples
mainly because these entrepreneurs have been highly successful in business and have done so
without being involved in any form of shady dealing that may have a negative impact on the
organisation. The examples of the entrepreneurs are an inspiration for the young people
seeking to pursue being an entrepreneur in the future (Burns 2016).
The first example of an entrepreneur that can be taken into account is of the founder
of Apple, Steve Jobs. The reason for analysing the career of Steve Jobs is the fact that he had
managed to build an organisation that is technically well advanced and even after his
untimely death, the company is one of the leading manufacturers of high tech materials that
are used in the modern world. As pointed out by Terjesen, Hessels and Li (2016) the
development of the company from scraps in a time during less developed technology can be
considered as an inspiration for young people trying to be successful in the entrepreneurship
business.
It has been seen that Steve Jobs needed to build the company from its foundation with
its co-founder Steve Wozniak. As observed by Kirzner (2015) in its early days, Apple was
struggling and any form of shady dealings could have resulted in negative consequences for
the organisation. The skills shown by Jobs can be considered as unique and remains true to
the ideologies of an entrepreneur. In this regard, as stated by Kuratko (2016) it can be said
that the ambition of Steve Jobs was to build a company that can maintain his legacy and

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ensure that future generations can benefit from the development. In doing so, Steve Jobs had
managed to provide one of the most reputed companies in the modern world (Burns and
Dewhurst 2016).
However, as pointed out by Burns (2016) one of the activities that were undertaken by
Steve Jobs in developing the company was the fact that he needed to be strict with the
employees. It has been reported that the infamous rage of Steve Jobs provided the main and
required course of action that helped in building a perfect company. The growth of the
company can be attributed to the nature of business undertaken by Steve Jobs by keeping in
mind the advantages that customers may get in the future. Hence, as pointed out by Storey
(2016) Steve Jobs managing the employees while remaining strict was simple mainly because
the ideas developed by him were usually collaborated with the employees.
As discussed earlier, entrepreneurs need to maintain certain ideologies that can help in
the development of an organisation. Burns and Dewhurst (2016) defined that these ideologies
are important as the characteristics of the entrepreneurs are determined. In the case of Steve
Jobs, creativity and innovation were the two ideologies that can define the person. As seen by
Cooper and Folta (2017) the innovation and creativity displayed by Apple ensures that the
satisfaction of the customers is retained. The analysis of this particular entrepreneur also
provides evidence about the fact that Steve Jobs had not been involved with any form of
shady business during the development of the company. This can be considered as a counter
argument made earlier that while setting up a business initially shady business development
need to take place.
Entrepreneur 2
After analysing the first entrepreneur, an idea about the ideologies, roles and the
behaviour that needs to be undertaken by an entrepreneur can be gained. However, as pointed

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out by Read et al. (2016) one example cannot be considered as full evidence about these
characteristics of an entrepreneur. Hence, a second example needs to be provided and
analysed so that the concept can be cleared and a proper idea about an entrepreneur can be
maintained. This particular example provided can be considered as an opposition to the
example of an entrepreneur provided earlier.
The second entrepreneur that is considered for analysis is Larry Page, a computer
scientist and internet entrepreneur. He is credited of being the co-founder of Google, one of
the biggest and most popular search engines in the world (Terjesen, Hessels and Li 2016).
The reason for selecting Larry Page is that he inspired in creating a search engine that is not
only popular but have provided many people with an opportunity to enhance their career
growth. Barringer (2015) stated that apart from the website, Larry Page is also credited to
have founded applications that can be associated with Google such as Google+, Google
Book, Google maps and so on.
In the words of Scarborough (2016) the ideology followed by Larry Page for the
development of Google as a search engine was to provide the people with knowledge that can
be derived from any form or format. In the modern world, Google is used by people all
around the world in order to gain information about various things and places. As stated by
Cooper (2017) the associated applications with Google can also help people in being more
modern and identify the necessary information required for development. In this regard, it
can be said that Larry Page has formulated one of the most exciting prospects that is used
heavily and in a mobile manner in the modern world. Lipset (2018) observed that the
difference with Apple is that using Google costs only the amount needed to be paid for
gaining internet access.

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At the same time, a comparison can be made between Larry Page and Steve Jobs on
the ground of behaviour made against the people. It is seen from the analysis that Steve Jobs
used to be strict with the people and the rage resulted in the development of the company.
However, as stated by Meyer et al. (2017) in the case of Larry Page it is seen that the
employees are treated in a friendly manner and the work environment provided also
contribute for the motivation of the employees. As observed by Bhachu (2017) this can be
considered as an advantage in terms of motivation of the employees mainly because Larry
Page had the aim for the development of the people before the development of the company.
Another consideration that can be made is the fact that Larry Page had not been
involved in shady activities. As observed by Schaper (2016) this can be considered as a
similarity with Steve Jobs as well as a counter argument of the fact that shady activities may
help start up business. Employee involvement had been the main motivator for the success of
Larry Page and this proves the fact that difficult behaviour and shady dealings does not often
bring about success in a business. Terjesen, Hessels and Li (2016) pointed out the fact that
Google can afford to pay every employee more than a standard rate can point towards the
wealth generated by the company. Therefore, the examples of both the entrepreneurs can be
considered as a source of inspiration.

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Reference
Barringer, B.R., 2015. Entrepreneurship: Successfully launching new ventures. Pearson
Education.
Bhachu, P., 2017. Immigration and entrepreneurship: culture, capital, and ethnic networks.
Routledge.
Burns, P. and Dewhurst, J. eds., 2016. Small business and entrepreneurship. Macmillan
International Higher Education.
Burns, P., 2016. Entrepreneurship and small business. Palgrave Macmillan Limited.
Cooper, A. and Folta, T., 2017. Entrepreneurship and high‐technology
clusters. Entrepreneurship, pp.348-367.
Cooper, A.C., 2017. Networks, alliances, and entrepreneurship. Strategic entrepreneurship:
creating a new mindset, pp.201-222.
Kets de Vries, Manfred F. R 1985. The Dark Side of Entrepreneurship, Harvard Business
Review, Nov/Dec 1985, Vol.63(6), p.160
Kirzner, I.M., 2015. Competition and entrepreneurship. University of Chicago press.
Kuratko, D.F., 2016. Entrepreneurship: Theory, process, and practice. Cengage Learning.
Lipset, S.M., 2018. Values, education, and entrepreneurship. In Promise Of Development (pp.
39-75). Routledge.
Meyer, G.D., Neck, H.M. and Meeks, M.D., 2017. The entrepreneurship‐strategic
management interface. Strategic entrepreneurship: Creating a new mindset, pp.17-44.

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Read, S., Sarasvathy, S., Dew, N. and Wiltbank, R., 2016. Effectual entrepreneurship.
Routledge.
Scarborough, N.M., 2016. Essentials of entrepreneurship and small business management.
Pearson.
Schaper, M. ed., 2016. Making ecopreneurs: Developing sustainable entrepreneurship. CRC
Press.
Storey, D.J., 2016. Entrepreneurship and new firm. Routledge.
Terjesen, S., Hessels, J. and Li, D., 2016. Comparative international entrepreneurship: A
review and research agenda. Journal of Management, 42(1), pp.299-344.