Contents
1.0
Entrepreneur..........................................................................................................................3
1.2 Definitions of Entrepreneur.......................................................................................................3
1.3 traits of successful entrepreneurs: ............................................................................................3
Planning......................................................................................................................................3
Empathy .....................................................................................................................................3
A sense of fairness.......................................................................................................................4
1.4 Conclution ................................................................................................................................4
2.0 Entrepreneurship..........................................................................................................................4
2.1 Definition of Entrepreneurship ...................................................................................................4
2.2 Characteristics of Entrepreneurship:...........................................................................................5
2.5 TYPES OF entrepreneurship .......................................................................................................5
Corporate entrepreneurship ........................................................................................................5
2.6 Conclusion ................................................................................................................................5
3.0
WHO IS Steve Jobs...................................................................................................................6
4.0 Case Study: Steve Jobs of Apple Inc. ...........................................................................................6
Steve Jobs ......................................................................................................................................8
5.0 Apple and Its Business CONCEPT ...................................................................................................9
5.1 About Apple ..............................................................................................................................9
5.2 Apple Motherboards to iPhone and Beyond................................................................................9
. ...................................................................................................................................................10
5.3 Apple iMac and iPod ...............................................................................................................10
5.4 The iPhone .............................................................................................................................10
6.0 Market research .........................................................................................................................10
6.1 Apple Target Audience..........................................................................................................11
Particulars ................................................................................................................................11
Apple Target Audience ..............................................................................................................11
6.2 Understanding customers: ......................................................................................................12
6.3 Apple understanding Customers: ............................................................................................12
6.5 Understanding competitors: ...................................................................................................13
6.6 Apple understanding their competitors: ..................................................................................13
6.7 Understanding market environment: ......................................................................................13
7.0 SWOT analysis stands for: .....................................................................................................13
7.1 Apple SWOT analysis: .............................................................................................................14
Apple’s Strengths–. ...............................................................................................................14
Apple’s Weakness–................................................................................................................14
Apple’s Opportunities– ........................................................................................................14
Apple’s Threats– ....................................................................................................................15
Qualitative Research:................................................................................................................15
Quantitative Research: .............................................................................................................15
8.0 Financial projection of apple ................................................................................................16
9.0 conclution....................................................................................................................................18
10.0 REFERENCES..........................................................................................................................19
1.0 Entrepreneur
An entrepreneur identifies a need that no existing business addresses and determines a
solution for that need. Entrepreneurial activity includes developing and starting a new
business and implementing a business marketing plan, often with the end goal of selling
the company to turn a profit.
The term entrepreneur not only refers to the creator, owner and manager of a business,
but also to the project leader of a business.
An entrepreneur who regularly launches new businesses, sells them and then starts new
companies is a serial entrepreneur. Whether a business owner should be considered an
entrepreneur often depends on whether they created the business, and other legalities.
That said, any founder of a successful household-name business began as an
entrepreneur.
1.2 Definitions of Entrepreneur
An entrepreneur can be described as “one who creates a new business in the face of risk
and uncertainty for the purpose of achieving profit and growth by identifying significant
opportunities and assembling the necessary resources to capitalize on them” (Zimmerer
& Scarborough, 2008, p. 5).
1.3 traits of successful entrepreneurs:
Planning
There’s a lot of talk about “P” words: passion, perseverance, and persistence. I mistrust
all three.
A lot of unsuccessful entrepreneurs have these traits as well. You have to have some
variation on them, but you can have all three and still fail. You and I both know people
who never made it—and never stopped trying, either.
My favorite “P” word in entrepreneurship is “planning,” but that’s just me. Stubbornness
is good too (even though it doesn’t start with a “P”).
Empathy
As in, understanding how other people think and feel about things.
Empathy leads to understanding what the people you sell to want, what they need, how
they think, and how to best reach them. It’s hard to imagine somebody building a
company without being able to put themselves in the buyer’s state of mind.
A sense of fairness
For dealing with vendors, customers, and employees. A successful entrepreneur needs
to be able to be fair with those they do business with.
1.4 Conclution
Autonomy: Entrepreneurs are people who want to be their own bosses, set their own
goals, control their own progress and run their businesses how they see fit.
Purpose: Many entrepreneurs have a clear vision of what they want to accomplish and
will work tirelessly to make that happen.
Financial success: Most entrepreneurs realize they aren’t going to be overnight
billionaires, but that doesn’t mean they aren’t interested in the potential to make a ton
of money from a hugely successful business over which they have full control.
Legacy: Entrepreneurs are often guided by a desire to create something that outlasts
them. Others want to develop a brand that has longevity and becomes an institution.
2.0 Entrepreneurship
Entrepreneurship is the immense strength and human spirit of which made possible the
great geographical discoveries of the world. Entrepreneurship is a vital activity to bring
about changes in the economy and society not only in a country but also of those in the
world.
It causes the initiation of all types of human activities in the society.
Entrepreneurship is the immense strength and spirit of humanity which made possible
the great geographical discoveries of the world.
It is the astounding forces of man that indebted our civilization with varieties of
products, among technologies, and breakthrough thoughts.
It is a basic strength of business organizations too. The provocation of change toward
future business prosperity is the result of the entrepreneurial zeal of the people.
Therefore entrepreneurship is a basic discipline to learn for the student of business.
2.1 Definition of Entrepreneurship
What is entrepreneurship?
Entrepreneurship is the act of creating a business or businesses while bearing all the
risks with the hope of making a profit.
“Entrepreneurship entails bearing the risk of buying at a certain price and selling at
uncertain prices.”- Ricardo Cantillon.
2.2 Characteristics of Entrepreneurship:
Ability to take a risk- Starting any new venture involves a considerable amount of failure
risk. Therefore, an entrepreneur needs to be courageous and able to evaluate and take
risks, which is an essential part of being an entrepreneur.
Innovation- It should be highly innovative to generate new ideas, start a company and
earn profits out of it.
Visionary and Leadership quality- To be successful, the entrepreneur should have a clear
vision of his new venture. However, to turn the idea into reality, a lo t of resources and
employees are required.
Open-Minded- In a business, every circumstance can be an opportunity and used for
the benefit of a company.
Know your Product-A company owner should know the product offerings and also be
aware of the latest trend in the market. It is essential to know if the available product or
service meets the demands of the current market, or whether it is time to tweak it a
little. Being able to be accountable and then alter as needed is a vital part of
entrepreneurship.
2.5 TYPES OF entrepreneurship
Corporate entrepreneurship
is a more general term referring to entrepreneurial actions taking place within an
existing organization whereas Intrapreneurship refers to individual activities and
behaviors. Intrapreneurship is the act of behaving like an entrepreneur while working
within a large organization. Intrapreneurship is known as the practice of a corporate
management style that integrates risk-taking and innovation approaches.
Intrapreneurship is derived from the knowledge of using entrepreneurial skills,
innovation, and start-up business practices within an organization. As we will see from
the case study of Apple Inc., Late Mr. Steve Jobs belonged to this category.
2.6 Conclusion
To be successful in sustainable business practices often requires entrepreneurship and
innovation.
Being an entrepreneur requires taking on significant responsibility and comes with
significant challenges and potential rewards.
Entrepreneurship is a mind-set, an attitude; it is taking a particular approach to doing
things.
The motivations for becoming an entrepreneur are diverse and can include the potential
for financial reward, the pursuit of personal values and interests, and the interest in
social change.
For innovation to be relevant for sustainable businesses, it has to be meaningful and
affect a large number of stakeholders.
Successful entrepreneurship often requires creativity and innovation in addressing a new
opportunity or concern in a new way.
3.0
WHO IS Steve Jobs
Born in San Francisco, Calif., and raised in Los Altos, the Apple Computer Company
visionary was adopted by his father Paul Jobs, and mother, Clara Jobs. As the son of a
Coast Guard mechanic, Steve Jobs showed an early interest in electronics and gadgetry.
While in high school, he boldly called Hewlett-Packard co-founder and president
William Hewlett to ask for parts for a school project. Impressed by Jobs, Hewlett not
only gave him the parts but also offered him a summer internship at Hewlett-Packard. It
was there that Jobs met and befriended Steve Wozniak, a young engineer five years his
senior with a penchant for tinkering. Together, they designed and sold the "blue box,"
which manipulated telephone networks for free long-distance calls.
When Jobs returned to the United States, he renewed his friendship with Wozniak, who
had been trying to build a small computer. To Wozniak, it was just a hobby, but the
visionary Jobs grasped the marketing potential of such a device and convinced Wozniak
to go into business with him. In 1975, the 20-year-old Jobs and Wozniak set up shop in
Jobs' parents' garage, dubbed the venture Apple, and began working on the prototype
of the Apple I. They attended meetings of the Homebrew Computer Club, which helped
them develop and market their Apple product.
4.0
Case Study: Steve Jobs of Apple Inc.
Steve Jobs was an entrepreneur who turned into an intrapreneur due to
demands of the environment he worked in. The concept of corporate entrepreneur,
initially called ‘Intrapreneuring’ is essentially start-up entrepreneurship turned
inward. Apple was established on April 1st, 1976 by Steve Jobs, Steve Wozniak and
Ronald Wayne to sell the Apple I personal computer kit. The kits were hand-built by
Wozniak. Steve Jobs was booted in 1985 and returned as CEO in 1997. By the time of
his death in 2012 at the age of 56, he had transformed a company that was in such
weak financial shape that it accepted a $150 million investment from Microsoft, into
the most profitable technology company in the world. A consummate showman,
Jobs was adept at explaining his vision to a mass audience and he built Apple into
one of the world’s most powerful brands. The company’s annual revenues climbed to
$108 billion (CNN most admired company 2012). Jobs and Woznick, both had a
steady job but their entrepreneurial needs were unsatisfied and hence this gave rise
to Apple Inc.
But by 1980, increased competition pooled with poor sales of the Apple III and its
follow-up, the LISA, resulted in loss of its market share to IBM. Faced with bad sales,
Steve Jobs introduced the Apple Macintosh in 1984. The first personal computer to
feature a graphical-user interface controlled by a mouse, the Macintosh was a true
breakthrough in terms of ease-of-use. This move by Apple demonstrated
innovativeness and risk taking at the time of adverse conditions. This was partially
because of Steve Jobs entrepreneur skills and partially of the entrepreneurial
corporate strategies in place, this resulted in CE. Steve Jobs and his handpicked
group of twenty Apple Computer engineers detached themselves from the other
Apple employees to innovatively and intrapreneurially create the Mac. The MAC
group, under Steve Jobs’ personal leadership, operated totally autonomously and
without meddling from anyone at Apple. This is an example of how Steve Jobs
exercised autonomy and disengaged from the organizational boundaries to lead a
new business creation inside the same Apple. This action links up with the points of
“Autonomous” and “Innovativeness” of the framework. It also fits in well with the
definition of CE in question, since it created a new innovative business venture inside
the organization.
However due to creative difference between Steve Jobs and the board, Jobs quit
Apple in 1985. Here we see that Steve Jobs need for autonomy and power got in the
way and eventually resulted in his leaving his beloved Apple Inc. Entrepreneur need
to be autonomous and locus of power can sometimes result in unfavorable results.
This marked a turbulent time for the company. It can be said that Apple lost it’s in
the words of Schumpeter, J. A. (1952) “Creative destruction” entrepreneur and hence
entrepreneur orientation was lost and so was CE culture. However as entrepreneurs
are “wild spirits” and always looking for new challenges, later that year, using a share
of the money from the stock sale, Steve launched NeXT Computer Co. with the
objective of developing an innovative computer that would revolutionize higher
education. Here we see the “never say die” spirit of the entrepreneur that Steve Jobs
was. He despite all odds and failures stood back on his feet and created a new
business venture. He portrayed attributes of innovativeness and proactiveness. He
took a big risk with his savings and it could be argued that it was a calculated risk
but others see it as a move to show his doubters that he can create “anything from
nothing”.
Introduced in 1988, the NeXT computer boasted a host of innovations, But at $9,950,
the it was too expensive to create enough sales to keep the company afloat.
Undeterred, Jobs switched the company’s focus from hardware to software. He also
began paying more attention to his other business, Pixar Animation Studios, which
he had purchased from George Lucas in 1986. Here we see that Steve created
branched out from the primary product and created an alternative business inside a
business by utilizing his entrepreneurial skill of learning from failures. Steve Jobs
could be said was a serial entrepreneur. He created a new organization and when the
organization business was not enough for his appetite of entrepreneur orientation,
he created a created a new business inside a business to satisfy the hunger of
“creative destruction”. Following on the success, soon Apple bought NeXT for $400
million and re-appointed Jobs to Apple’s board of directors as an advisor to Apple
chairman and CEO Gilbert F. Amelio. It was an act of desperation on Apple’s part. The
physician of ancient Greece, Hippocrates in his aphorisms stated “For extreme
diseases, extreme methods of cure, as to restriction, are most suitable.” Because they
had failed to develop a next-generation Macintosh operating system and incurred
heavy financial loss, the firm’s share of the PC market had dropped to just 5.3% , and
they hoped that Jobs could help turn the company around . One could argue that
the move to buy NeXT and bring back Steve Jobs was risky and innovative in some
sense and that was Apple’s entrepreneur orientation as its best for many years. On
the other hand one could say that emotional embedded reasons were behind Steve
Jobs accepting the offer to work for Apple Inc.
Steve Jobs
Co-founder
Founded: 1976
of
Apple
Computer
Inc.
"We started out to get a computer in the hands of everyday people, and we succeeded
beyond our wildest dreams."-Steve Jobs
5.0 Apple and Its Business CONCEPT
With a market capitalisation of over a trillion dollar at the time of this writing, Apple
is among, if not the most valuable brand in the world. In recent years, it has become
increasingly rare to not use an Apple product at some point in your day. In fact, as of
this month there are over one billion Apple products being used across the world.
The little apple with a bite out of it has become synonymous with technology, music,
and growth.
Apple Inc. is an American multinational technology company headquartered in
Cupertino, California, that designs, develops, and sells consumer electronics,
computer software, and online services. It is considered one of the Big Four
technology companies, along with Amazon, Google, and Facebook.
The company's hardware products include the iPhone smartphone, the iPad tablet
computer, the Mac PC, the iPod portable media player, the Apple Watch smartwatch,
the Apple TV digital media player, and the AirPods wireless earbuds. Apple's
software includes the macOS, iOS the iTunes media player, the Safari web browser
and the iLife and iWork creativity and productivity suites. Its online services include
the iTunes Store, the iOS App Store, Mac App Store, Apple Music, iMessage, and
iCloud.
5.1 About Apple
The history of everyone’s favourite start-up is a tech fairytale with one garage, three
friends - Steve Jobs, Steve Wozniak, Ronald Wayne and their wild passion to do
something big. The two Steves attended the Homebrew Computer Club together; a
computer hobbyist group that gathered in California's Menlo Park from 1975. Woz
produced the first computer with a typewriter-like keyboard and the ability to connect
to a regular TV as a screen. Later christened the Apple I, it was the archetype of every
modern computer hand-built entirely by Wozniak.
It was sold as a motherboard (with CPU, RAM, and basic textual-video chips)—a base kit
concept. The approach was to make something simpler for the rest of us. A philosophy
even reflected today in Apple’s products. The Apple I went on sale in July 1976 and was
market-priced at $666.66 ($2,995 in 2019 dollars, adjusted for inflation).
5.2 Apple Motherboards to iPhone and Beyond
Steve Jobs was convinced that all future computers would have GUI. The first home
computer with a GUI, or graphical user interface — an interface that allows users to
interact with visual icons — was the Apple Lisa. Jobs adapted the technology of The
Xerox Alto(the first computer to feature GUI) into a computer small enough to fit on a
desktop. Despite a fantastic breakthrough it was a commercial failure due to its high
price and limited software titles.
On December 12, 1980, Apple (ticker symbol "AAPL") went public selling 4.6 million
shares at $22 per share , generating over $100 million, which was more capital than any
IPO since Ford Motor Company in 1956. By the end of the day, the stock rose to $29 per
share and 300 millionaires were created. Apple's market cap was $1.778 billion at the
end of its first day of trading.
5.3 Apple iMac and iPod
In 1997, Jobs returned to Apple as the interim CEO, and a year later the company
introduced a new personal computer, the iMac. The iMac was a strong seller, and Apple
quickly went to work developing a suite of digital tools for its users, including the music
player iTunes, the video editor iMovie, and the photo editor iPhoto. These were made
available as a software bundle known as iLife.
In 2001, Apple released its first version of the iPod, a portable music player that allowed
users to store "1000 songs in your pocket". By 2015, Apple had sold 390 million units.
5.4 The iPhone
During his keynote speech at the Macworld Expo on January 9, 2007, Jobs announced
that Apple Computer, Inc. would thereafter be known as "Apple Inc.", because the
company had shifted its emphasis from computers to consumer electronics. The event
also saw the announcement of the iPhone and the Apple TV. The company sold 270,000
iPhone units during the first 30 hours of sales, and the device was called "a game
changer for the industry". Apple achieved widespread success with its iPhone, by
October 2008, Apple was the third-largest mobile handset supplier in the world.
6.0 Market research
Apple uses the process of marketing research to learn about the needs of its customers
and get their feedback on the products. This helps in maintaining a good relationship
between the customer and the company. For a smooth running of the organization, it is
important to understand the needs of the customers, understanding the competitors and
the market environment. Apple gets feedback from its customers to serve them better by
releasing a new product or by updating the ios. The company could have suffered if they
did not take into consideration the feedback of the customers. Getting regular feedback
from the customers is an important part of marketing research and can save the
company from enduring heavy losses. It is important to understand the competitors as
Apple competes with big brands like Samsung. Both these companies closely keep an
eye at each other, from analyzing the sales to the products launched. They try to
compete with each other to such an extent that they both release the same type of
products at almost the same price range. Let us take the example of the smartwatches
released by both the companies.
Understanding the environment of the market helps the company during market research. It
can be carried out by SWOT analysis, which is a method to identify threats, strengths, and
weaknesses of a certain organization. SWOT analysis is undertaken by organizations to detect
their internal strengths and weaknesses and also identify external opportunities and threats.
Apple also uses this analysis as a part of its marketing strategy.
6.1 Apple Target Audience
To understand its key strategies for marketing Apple products, let's first understand
what Apple's target audience is like. Apple's target audience consists of middle-class
and upper-class users who can pay higher for products that provide them with an
incredible user experience. This means that these users have a higher disposable
income and are willing to.
Particulars
Apple Target Audience
Areas
Urban
Gender
All
Age
20-45
Life phase
Bachelors to Married both
Earnings
High
Jobs
Working
professionals,
managers & executive level
workers
Besides this primary classification, Apple also explicitly targets professionals working
in specialized software like music, video, photography and all kinds of design careers.
These working professionals prefer Adobe’s Final Cut, Photoshop and related editing
software which work well with Macbooks and IPads than other operating systems.
Even better, business professionals prefer Apple products such as iPods and
Macbooks for their day-to-day work. Products like iPads and Macbooks are lighter
and portable, so they are often selected by students (upper-class), educational
institutions and teaching.
6.2 Understanding customers:
Understanding customers is important for a business, this is because they are the
people who are buying the products from a brand and they are the reason behind
why a business becomes successful.
6.3 Apple understanding Customers:
Apple understands their customers by getting customer feedback and by getting
customer feedback they get the opportunity to improve their products by releasing a
new product or by updating their IOS. So by making changes on their products
Apple understands their customers’ needs as they adapt to their needs and wants
which attracts more new customers into their store. If Apple did not listen to the
feedback and suggestions from the customers then the customers would not
purchase their products which would create a big loss for the business as they
wouldn’t be making any money if customers didn’t purchase their products. This is
why it is important to understand the research from the market research so they
would be making much more money as a company.
6.5 Understanding competitors:
Understanding competitors is also important for the business. This is so they can
compete with their competitor’s price wise and software wise to make sure that they
are the best company within the category which in this case is Apple.
6.6 Apple understanding their competitors:
Apple competes with brands like Samsung. Apple and Samsung both look at each
other’s sales and the products that they launch. They both try to compete each other
by having similar price ranges and getting out similar products. For example Apple
and Samsung both have a smart watch. The Apple one is known as the ‘Apple Watch’
and the Samsung one is known as the ‘Samsung Gear S3’
6.7 Understanding market environment:
Understanding the market environment is also important as it would help businesses
during the market research. During market research businesses have to analyse its
external environments. A useful way to do this is by using a SWOT Analysis. This
analysis observes the relationship between a business and as well as its marketing
environment.
7.0 SWOT analysis stands for:
Strength: This refers to the advantages of the business and also the internal features
of the business/organisation. This could be the location of the business or how well a
business advertises their products.
Weakness: This refers to the disadvantages of the business and also the internal
aspects of the business/organisation. This could be the amount of sales a business is
making or the poor quality of products and services that a business have launched or
produced.
Opportunities: This focuses on the developments of an organisation. This could
include the business moving into a new market segments or new territories for a
service or product.
Threats: This refers to the competitors which may be affecting a certain business as
they may not be doing well with selling their products as their competitors are taking
away their customers as they may have good price ranges and good offers available
for customers. Threats refers to the damage in a business or organisation. This could
include taxation which may be introduced on a product or service or a competitor
has a new product or service.
7.1 Apple SWOT analysis:
Apple’s Strengths– Apple has launched many different products such as IPhone,
IPad, IPod, MacBook and even an Apple watch ‘IWatch’ they have given many
opportunities for their customers as there are a variety of different products for the
customers to purchase. The have come up with everything a person may want and
desire.
Apple is one of the most valued brand in the world. Their brand value in 2016 was
$228.46 billion whereas now in 2017 the brand value is $234.67 billion. This shows
that their brand value has increased by 6.21 % within one year.
Whenever Apple always designs its products they focus on their consumers. By
getting feedback from them they are always relating back to their consumers and
how they’d prefer their new products. This is why Apple has become successful as
they are always thinking about their customers and are always caring about their
happiness. Customers like to be satisfied with products which Apple certainly does
do as they get a lot of customers purchasing from them.
Apple has also branded and advertised their company well. Apple is one of the most
well-known brand world-wide which shows that they have caught everyone’s
attention and have advertised their brand very well. If Apple didn’t advertise
themselves properly then they wouldn’t be as successful and popular as they are
currently.
Apple’s Weakness– One of Apples weakness is that their prices for their phones are
much more expensive than their competitor Samsung. Apples latest IPhone 8 64GB
is £699.00 and the IPhone 8 Plus 64GB is £799.00. Whereas the Samsung’s latest
phone which is the Samsung S8 64GB is £669.00 and Samsung S8+ 64 GB is £779.00.
This shows that the Samsung’s phone price ranges are cheaper and much more
affordable than Apple, this is a weakness for Apple as not everyone likes to spend a
lot of money which makes them step back when it comes to purchasing an IPhone.
Apple’s Opportunities– since Apple has become very popular and successful over
the years the company now want to expand even more by launching their own car
line. They think that they are almost ready to start something completely new which
will get new customers into their company. This will attract people who are
interested in cars and who are also looking into buying a new car. Apple now is
hooked on ‘Apple Car’ which is supposed to be launching in 2020. Just how Apple
are doing well by selling Iphones, IPad, IPod and MacBook’s Apple also thinks that
they will do well or are hoping to do well when launching their own car line.
Apple’s Threats– Apples laptop MacBook has competition between Dell, Sony and
Lenovo. This is because they are all very successful and popular laptop companies
which are used and purchased by many different consumers. Apple does try their
best to keep ahead of the game by launching different MacBook’s to get more
customers as it is a popular laptop in terms of Apple but so does Dell, Sony and
Lenovo. They all also get out new versions of their laptops just as Apple does with
their MacBook’s. This is a threat for Apple because sometimes when they try to be
ahead of the game other brands such as Dell, Sony and Lenovo end up being on the
same level as Apple which makes it difficult for Apple to compete with them and be
ahead.
This also goes for their IPhones as IPhones are the only phones which are from Apple
whereas Samsung, HTC and Sony are from Android. Apple tries their best to stay
unique and beat Android by coming out with new software’s but when Android see
that Apple has come out with a new Software they also end up creating a similar and
try to create a better software than Apple. This again is another threat to Apple as
they want to compete with Android.
Qualitative Research:
Qualitative research is subjective and is often open-ended. This type of research
involves surveys, interviews and questionnaires. Qualitative research focuses on
behaviour, opinions and intentions.
Apple uses this type of research by producing online questionnaires and surveys for
their consumers to take part in. They look at the responses to see the thoughts and
opinions of different people and put them in use when launching something new.
Quantitative Research:
Quantitative research focuses on figures and statistics. It often relates to number and
figures related to sales data, market value but it can include responses from
customers. This type of data can be used to measure products on a weekly basis and
it can also be used to track prices across different brands. This type of research can
also estimate market shares of competing brands and can estimate market share
segments.
Apple uses this research as they look at figures of different sales made by different
companies and brands. They look at how much profit and customers their
competitors are getting and how they can beat them and make more sales and
profits than them (e.g. Samsung).
8.0 Financial projection of apple
Apple today announced financial results for its fiscal 2016 fourth quarter ended September
24, 2016. The Company posted quarterly revenue of $46.9 billion and quarterly net income of
$9 billion, or $1.67 per diluted share. These results compare to revenue of $51.5 billion and
net income of $11.1 billion, or $1.96 per diluted share, in the year-ago quarter. Gross margin
was 38 percent compared to 39.9 percent in the year-ago quarter. International sales
accounted for 62 percent of the quarter’s revenue.
“Our strong September quarter results cap a very successful fiscal 2016 for Apple,” said Tim
Cook, Apple’s CEO. “We’re thrilled with the customer response to iPhone 7, iPhone 7 Plus and
Apple Watch Series 2, as well as the incredible momentum of our Services business, where
revenue grew 24 percent to set another all-time record.”
“We are pleased to have generated $16.1 billion in operating cash flow, a new record for the
September quarter,” said Luca Maestri, Apple’s CFO. “We also returned $9.3 billion to
investors through dividends and share repurchases during the quarter and have now
completed over $186 billion of our capital return program.”
Apple is providing the following guidance for its fiscal 2017 first quarter:

revenue between $76 billion and $78 billion

gross margin between 38 percent and 38.5 percent

operating expenses between $6.9 billion and $7 billion

other income/(expense) of $400 million

tax rate of 26 percent
Apple’s board of directors has declared a cash dividend of $0.57 per share of the Company’s
common stock. The dividend is payable on November 10, 2016 to shareholders of record as
of the close of business on November 7, 2016
9.0 conclution
All entrepreneurship students should be able to take away real business experiences from
their education. I graduated without having to file for a business license or making a sale of
any kind. Even if students are assisted in starting a very basic business that lacks real potential
of becoming an empire, it gives them the physical experience of starting a business.
These experiences should help each student decide if entrepreneurship is for them, learn how
difficult it is and experience the basic aspects of owning and operating a business.
Here are the other top responses to what students should take away from their experience in
entrepreneurship education.
Steve Jobs ' vision of a "computer for the rest of us" sparked the PC revolution and made
Apple co an icon of American business. But somewhere along the way, Jobs' vision got
clouded - some say by his ego - and he was ousted from the company he helped found. Few
will disagree that Jobs did indeed impede Apple's growth, yet without him, the company lost
its sense of direction and pioneering spirit. After nearly 10 years of plummeting sales, Apple
turned to its visionary founder for help, and a little older and wiser Jobs engineered one of
the most amazing turnarounds of the 20th century.
10.0 REFERENCES
https://www.b usinessnewsdaily.com/7275-entrepreneurship-defined.html
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