A Case Study Of Steve Jobs

a) Make a list of Traits of an Entrepreneur and show as to how many traits were present in
Steve Jobs.

Answer:
An entrepreneur may be called successful only if he is able to accomplish the targeted
objectives.
Successful entrepreneurs may be characterized by unusual alertness; a propensity of risk-taking
and a strong desire for achievement.
Some of the qualities of a successful entrepreneur are:-
1. Commitment, Determination and Perseverance
2. Disciplined and Determined to Achieve
3. Self-Confidence and Optimism
4. Tolerance for Failure
5. Opportunity Orientation
6. Initiative and Responsibility
7. Persistent Problem Solving
8. High Energy Levels and Intensity of Purpose
9. Strong Interpersonal Skills and Team-Building Abilities
10. Creativity and Innovation
11. Capacity to Assume Risk
12. Ability to Learn from Experience
13. Ability to Marshal Resources
14. Ability to Organize and Administer
15. Control
16. Technical Knowledge and Adaptive Nature
17. Assertiveness
18. Take Fear Out of Failure
19. Have a Worthy Goal
20. Never Give Up
21. Be Ready for Work-Life Imbalance and a Few Others.
Most entrepreneurs I believe have inherent in themselves the same traits as Steve Jobs and it is
those traits that many times lead to their successes. Along with these traits, there were many
personality traits that helped Steve Jobs become the most successful entrepreneur of our time.
We can all learn a lot from him. In addition, whether or not you've already reached success,
Steve Jobs provides a fantastic blueprint to follow.

b) Identify the limitations of Steve Jobs.

Answer:
Although Steve Jobs was a great visionary, he is also cited to be a bully. He had an uncanny
capacity to know exactly what your weak point is, know what will make you feel small, to make
you cringe.

2. He reportedly took credit for ideas that were not his. " when told of a new idea, he will
immediately attack it" and if it was a good one, "he will soon be telling people about it as
though it was his own".

3. He wasn't a very good team player and is also said to have very destructive behavior.
4. His legendary impatience, relentless quest for perfection, domineering presence, and
obsessive need to control fostered as much as fear within the Apple culture. Steve Jobs is also
often described as smug, willful, brazen, demeaning, volatile, and manipulative.

5. He was not a model boss or human being, tidily packaged for emulation. Driven by demon,
he could drive those around him to fury and despair. The environment under Jobs was not
good. There are multiple accounts of his temper flaring and causing him to fire random
employees for minor reasons, terminate important business relationships, and cause executives
to resign after altercations that include personal attacks.

6. It is reported that the Apple iPod Nano may have a faulty screen. The company has
commented that a batch of its product has screens that break under impact, and the company
is replacing all faulty items. This is in addition to problems with early iPods that had faulty
batteries, whereby the company offered customers free battery cases.

7. There is pressure on Apple to increase the price of its music download file, from the music
industry itself. Many of these companies make more money from iTunes (i.e. downloadable
music files) than from their original CD sales. Apple has sold about 22 million iPod digital music
players and more than 500 million songs though its iTunes music store. It accounts for 82% of
all legally downloaded music in the US. The company is resolute, but if it gives in to the music
producers, it may be perceived as a commercial weakness.

8. Early in 2005 Apple announced that it was to end its long-standing relationship with IBM as a
chip supplier, and that it was about to switch to Intel. Some industry specialists commented
that the swap could confuse Apple's consumers.

c) What are the lessons that you have learned from Steve Jobs?

Answer:
In his lifetime, Steve Jobs accomplished more than most people ever complete.
With his experience, knowledge, and innovation, he left a legacy that is serving as a benchmark
for many entrepreneurs, myself included. Here are some of the profound lessons from the
Apple founder about a business that I've learned & can apply it to life:
Learn from Others
In high school, Jobs attended lectures at a small computer technology company called Hewlett-
Packard. Before turning 21, Steve had worked for both HP and Atari. He saw what these
companies were doing and learned what he wanted to do differently with Apple.

Start Early
Because Steve was still a sponge-brained teenager when he started working with computers, he
learned quickly.
It also helps that he started Apple in his early 20’s: when he was still full of energy, fresh ideas,
and not yet restrained by a family or career.

Travel the World

The year before he founded Apple, Jobs journeyed to India. Travel has a way of broadening a
person’s perspective and expanding their sense of what’s possible – good traits in an
entrepreneur.

Surround Yourself with Good People

Steve Jobs wasn’t a great computer engineer. Apple would have had no chance if Jobs was the
only one building the computers. That’s why he recruited Steve Wozniak.
Through the years, Jobs’ companies have blossomed thanks to the brilliant people he’s brought
on board – like Apple CEO Tim Cook and Pixar CCO (Chief Creative Officer) John Lasseter.

Obstacles are meant to be overcome

Jobs and Wozniak ran out of money while developing the first Apple computer. Instead of
giving in, Jobs sold his van and Wozniak sold his graphing calculator. When there’s a will, there’s
a way.
Value People
Jobs hired passionate people and cultivated exceptional company cultures at both Apple and
Pixar – and their work speaks for itself.
Take Risks
Jobs was willing to cannibalize his company’s products in the name of progress. Many CEOs
would have been hesitant to develop the iPhone, knowing full well that it would help to make
the iPod obsolete – but Jobs did it anyway (and took a big bite out of the lucrative mobile
market).

d) Do you rate Steve Jobs as a successful Entrepreneur? Justify your answer.

Answer:
After reading to this case study, yes I highly rate Steve Jobs as a successful Entrepreneur. So
with that said, here are the things he would do that made Steve Jobs a successful entrepreneur.

Anticipate the future

Back in 2007, Steve Jobs said, “There’s an old Wayne Gretzky quote that I love. ‘I skate to where
the puck is going to be, not where it has been.’ And we’ve always tried to do that at Apple.
Since the very, very beginning. And we always will.” Apple has been on the cutting edge, and
making products better than anyone else for years. The reason they've become such a large
company, is that Steve was anticipating what peoples needs would be in the future, not what
they are right now. If you listen to what people want now, by the time it's developed, it will
already be obsolete. You have to identify where the market is heading, not where it is right
now.
Always pursue perfection
Steve's adoptive father, Paul, was a mechanic and a carpenter. He instilled in him at a young
age, that if you're going to do something, do it RIGHT all the way. Every detail, not matter how
big or how small, mattered. It is because of this that he always had incredibly complex products
like music players, phones, and computers, designed so that they were incredibly easy to use
and elegant to look at. Powerful, simplistic, and no detail left out was the secret to his success
in business at Apple, and his other business dealings.
Learn any way you can
Steve Jobs was a college dropout, but he was far from a dummy. Whether he was learning
mechanics from his father, learning about life and expanding his perspective during his global
travels, or tinkering with gadgets with groups of like-minded computer "geeks," Steve was
always learning. There is a great Jim Rohn quote, "Formal education can make you a living, but
self education can make you a fortune." Steve Jobs embodied this in every way.
Always move forward
Steve was often able to snatch success from the jaws of defeat. Any time he was put to the test
or suffered a major setback, career or otherwise, he came back better than ever. He and Steve
Wozniak ran out of money while developing the first Apple computer. Instead of giving in, he
sold his van and Wozniak sold his graphing calculator to come up with the funds. When he was
fired from Apple, the company he co-founded and poured his blood, sweat, and tears into, he
didn't rest. He would go on to head Next and Pixar only a short time after. Then, when he would
return to Apple in the late 90's, he used his past knowledge and business experience to bring
them back from the brink of bankruptcy. Use failure as a learning experience and a chance to
grow both personally and professionally.
Surround yourself with bright people
Steve was not a technical guy, he was a leader and marketer. He always had great vision and
ideas, but it was because he always surrounded himself with great people that he was able to
accomplish so much.
Take risks
Big risk, big reward. If you're going to be successful in business, there are going to be times you
need to take calculated risks. Whether it has to do with personnel, products, competitors... it's
inevitable. Steve Jobs even showed he was willing to cannibalize his own company’s products in
the name of progress. Many CEOs would have been hesitant to develop the iPhone, knowing
full well that it would help to make the iPod obsolete – but Jobs did it anyway. That is one part
of what has made the iPhone one of the most successful products in history.
The time to do something is always now
“Remembering that I’ll be dead soon is the most important tool I’ve ever encountered to help
me make the big choices in life. Because almost everything — all external expectations, all
pride, all fear of embarrassment or failure – these things just fall away in the face of death,
leaving only what is truly important.” - Steve Jobs If you really want to do something in life, the
time is always now. Don't give up on something you really want, ignore the doubters, pursue
your passions, and always make sure you're ready to seize opportunity when it presents itself.
We only get so much time on this planet. Make it count.