Assignment Cover Sheet

Faculty of Science, Engineering and Built

Environment

NAME: Muzaffer Ali Khan________________________________________________

STUDENT ID: 214438025_________________________________________________

UNIT CODE: SEB725 ______________________________________________________

Plagiarism and collusion

Plagiarism occurs when a student passes off as the student’s own work, or copies without acknowledgment as to its authorship, the work of any other person.

Collusion occurs when a student obtains the agreement of another person for a fraudulent purpose with the intent of obtaining an advantage in submitting an assignment or other work

Declaration

I certify that the attached work is entirely my own (or where submitted to meet the requirements of an approved group assignment is the work of the group), except where work quoted or paraphrased is acknowledged in the text. I also certify that it has not been submitted for assessment in any other unit or course.

I agree that Deakin University may make and retain copies of this work for the purposes of marking and review, and may submit this work to an external plagiarism-detection service who may retain a copy for future plagiarism detection but will not release it or use it for any other purpose.

DATE: 24-08-2015________________________________________________________

An assignment will not be accepted for assessment if the declaration appearing above has not been duly completed by the author.

ABSTRACT:

This paper consists of the analysis made on the works and business model of two

entrepreneurs Steve Jobs and Dick Smith. Steve Jobs the founder of apple and Dick Smith the

founder of Dick Smith Electronics. Both entrepreneurs had a lot of belief and conviction in

their business model and their technical skills. Jobs and Smith made a brand name within

shorter period of time. Though both of them dealt with technology, Jobs invented or created

the technology and Smith made business selling the technology in his own way. The paper

focuses on the traits of Jobs and Smith and relates those to general characteristics that an

entrepreneur is composed and contained with.

INTRODUCTION:

Entrepreneurs is defined as a Person who introduce new business ideas and take a risk to set

up business. The major role of an entrepreneur is through its innovation to be successful in

market. Moreover, entrepreneurs need not need to have and design or production plan.

Entrepreneurs only acts as an agent that brings change in business organisation through its

new ideas. Entrepreneurs are proactive, risk taking and innovative they consider financial

goal and they follow their own ideas. Entrepreneurs are very passionate towards their

business they belief their innovations will influence their lives. They lead and motivate their

employee and put together them a new groups. Entrepreneurs take a medium risk in area of

investing. Entrepreneurs bring new ideas, product in market and excite the market with their

new products. Entrepreneurs with their new ideas they always try to defeat their competitors.

Some entrepreneurial firms encourage innovative ideas and new inventions are the firms

different from other firms. Entrepreneurial firms have a great impact society with the help of

this firms new inventions create moral issues and this invention force society to accept the

new invention if this innovation is in terms of technology it will help the firms to track

behaviour of consumers.

BACKGROUND:

Dick Smith (Entrepreneur):-

Richard Harold Dick Smith was born in the year 1944 on March 10 th he is an Australian

Entrepreneur. He had very less amount of education at public and technical school. But his

new inventions and entrepreneur skills made him one of successful entrepreneur and business

man of Australia. At the same time he was a filmmaker, explorer. In 1968, in his early age he

opened a business of car radio installation and moreover he was an electronic technician and

he started his business career in a small car parking cellar in Sydney with only $610. With his

excellent customer service he began to gain publicity. During this time his business started

gaining profits as result he has move from that small car park and he moved in large place till

1980 he opened more than 20 stores in Australia. All the stores in Australia was under his

name tag “Dick Smith” with black and yellow branding. In the year 1982, he sold his

business to Woolworths for $20 million but business is runs in smith’s name, by the time he

sold his business he was already market leader and every household items like from

calculator to computer was sold in the name of Smith. In 1978, he opened a store Hong

Kong’s shopping centre and later he opened a number of stores in United States in California

and los Angles but there were closed by in 1980s. Dick Smith electronics have more than

2000 employs and Dick Smith is co-sponsor of Richmond Tigers a footy team since 2008.

The company is on high rise since 2009 and its business is growing at impressive rate and

company has started replacing electronics in name of talk to experts, companywide re-brand.

In November, 2012 Anchorage Capital Partners bought entire business of dick smith from

Woolworths. In 1983, he began a new career and he invented a helicopter flight around the

world and first flight flew to North Pole in the year 1987. In the years 1990-1992 and 1997-

1999 he was head of the Civil Aviation Authority. He was a very generous man he donated

$1 million to smith family. Everyone was amazed Smith’s enthusiasm towards his work and

in 1987 he bought The Australian Encyclopaedia. In 1986 he founded magazine Australian

Geographic with his enthusiasm he shaped U.S publication National Geographic and later on

in 1993 October he announced Australian Geographic will be printed in Australia rather than

overseas. Smith advised Kerry Packer and Rupert Murdoch to print in Australia so Australian

dollar in foreign revenue can be saved. In 1999, smith entered in Australian products and he

founded Dick Smith foods. Dick Smith sold food products that were produced in Australia

and by Australian owners of the firm.. In 1993 he became very famous as he was flying

Sikorsky S76A helicopter and he was flying his helicopter under Sydney Harbour Bridge but

there was some exploit as a result he decided to curator to solve this type of issues for civil

aviation and moreover he could concentrate on issues like air-traffic system and help to find

crashed aircrafts. In 1999, he started supporting charitable trust. Smith and his wife donated

$1million to Scout’s Australia, so that money can used to encourage “responsible risk-taking

in young people. Hence, it’s a new time for Dick Smith and new opportunities has been given

to brand so that in future there will be more business growth and great Tec advise.

ACHIEVEMENTS:

Dick Smith was named Australian of the Year in 1986, he was only person who Flued solo in

a helicopter around the world in 1983. He was appointed as brand ambassador of Council for

Aboriginal Reconciliation in 1998. In the year 1966 he was awarded with Baden-Powell

award. He was also awarded with Lindbergh’s award. Dick Smith was considered as Hall of

Fame of Australian Aviation.

CRITICAL ANALYSIS OF ENTREPRENEUR:

Dick Smith was an electronics technician he was master in his field he made his interest as

his profession and he was very dedicated towards his work he was a great entrepreneur he

invented new ideas and with his customer service skills he began to gain popularity and he

also made helicopter that even made him more famous in Australia and worldwide. As his

business

Started flourishing he expanded his business in other parts of world. He was also a great

philanthropist he donated $1million to Scout’s Australia. He was a man with leadership skills

and he was very dedicated towards his work. Therefore, Dick Smith is a great entrepreneur

because he always had a positive attitude and he believed in talent and made his talent as his

business profession and changed the electronics world with his new inventions.

BACKGROUND:

Steve jobs (Entrepreneur):

Steve jobs was born in 1955 on February 24 th in San Francisco. He was adopted but raised at

San Francisco Bay. Two university students of Wisconsin gave their child for adoption to

Abdulfattah Jandali and his mother name was Joanne Schieble she was speech therapist and

father was a political science professor. When Steve was infant Clara and Paul Jobs adopted

him they used live in Mountain Valley of California Steve used to work on electronics with

his father his father used to show Steve how to re built electronics from childhood it started to

gain interest in electronic gadgets. Jobs was intelligent and at the same time was very

notorious his fourth grade teacher have bribe him to make him study. Jobs was an excellent

student he scored high grades so administration of the school wanted to do high school but

his rejected that offer. In 1971, Jobs took admission in Homestead High School there he met

Steve Wozniak. Jobs and Steve Wozniak were very good friends both had same interest in

electronics they used link digital chips. In 1974, with Atari he started to design game he

became a game designer. In 1976, Steve Jobs and Steve Wozniak both started Apple

computers for starting Apple computers Jobs sold his car and Steve Wozniak sold his

scientific calculator and from they started their entrepreneurial project. Jobs and Wozniak

played a major role in making machines cheaper, smaller and faster. They sold their Apple

computers at $666.66 each Apple 1 earned around $774,000. After three years Apple-2 was

launched its sale climbed by 700 percent, by 1980s Apple Computer became very popular

world-wide and its market value grossed up to $1.2 billion. But after some time Apple

suffered loss mean while IBM surpassed Apple. In 1984, Apple launched Macintosh it had

good positive sale but it could not compete with IBM’s Pc’s because of this Jobs left Apple in

1985. After leaving Apple he joined Next, Inc he bought an animation company and invested

$50 million and later Next, Inc was renamed as Pixar studios and it produced famous films

like Toy Story and Finding Nemo and they combine with Walt Disney in 2006 and this made

Steve Jobs largest shareholder. In 1996, Apple bought Next Inc for $429 million and the

same year Steve Jobs regained his post as CEO of Apple. In 1990 with his new team Job he

altered the stocks and he got Apple back on track with his new gadgets like iMac and with

advertising and branding campaigns. Apple gadgets got attention with its design and its logo

caught attention of consumer and it became a style statement. Later, Apple invented more

products like Macbook Air, iPods and iPhone after every launch of new product of Apples

competitors used to launch almost same product like Apple with same features but they

couldn’t match up with Apple standard. In 2007, Apple’s stock were $199.99 a share which is

record breaking number and Apple gained profit of $1.58 billion with $18 billion excess in

bank with zero debt. Apple has been ranked no 1 in Fortune Magazine’s list of America

reason behind is with 6 billion songs downloaded and over 200million iPods sold. In 2008,

Apple became the second biggest retailer in music industry moreover, half of Apples revenue

is earned from iPods and iTunes sale. In 2003, Steve Jobs was detected with neuroendocrine

tumour it’s a rare kind of cancer it’s a pancreatic cancer because of his ill health executives

were fearing that market share holders would pull if CEO was ill. He had a successful surgery

in 2004 but Jobs kept it a secret about his health and did not disclosed it about his health. In

2011 on October 5 CEO of Apple Steve Jobs passed away after fighting with cancer for over

a period of time he died at age of 56 years and died at Palo Alto.

ACHIEVEMENTS: Steve Jobs awarded with National Medal of Technology and Innovation

in1985. In 1998, he released iMac which became the fastest selling product in history. In

2011 he was awarded with Bravo Otto- Internet star and in 2012 he was bestowed with

Grammy Trustees award.

CRITICAL ANALYSIS OF ENTREPRENEUR:

Steve Jobs was very creative person with his new inventions he solely changed six industries

like computers, mobile phones, music, tablets, animated films and digital publishing. In other

words, Steve Jobs was a very creative entrepreneur. He had a very good quality of analysing

situations he was always focussed and dedicated towards his work. He always said that

people with passion can change the whole world. He had unbelievable imagination he

imagined to change the world with Apple’s product. He always focused on design of product

and he always wanted to have perfect design he believed that with his design he could change

thinking of people. He never looked back he always gave a push to his team he took

calculated amount of risk for growing Apple’s sale and he made people to understand why

they have an Apple gadget in other words he was a salesperson. Therefore, Steve Jobs

showed us how to carry business although it is not necessary that everyone will have same

journey like him but with following his principle’s one could set his business and make a

change.

CONCLUSION:

To sum up, to be a good entrepreneur one should possess positive attitude, he should believe

in his ideas, should possess leadership skills and managerial skills in order to take business to

a new level. Entrepreneur should always come up with new ideas and innovation in order to

compete in market and keep customers engage with their new products, design and features.

Entrepreneur should have positive attitude if there is any loss to company he should not panic

and believe in his employees and his products.

REFERENCES:

Bio. 2015 [ONLINE] Available at: http://www.biography.com/people/steve-jobs-

9354805. [Accessed 24 August 2015].

Dick Smith, 2015, ‘Our history’, [ONLINE] Available at:

http://www.dicksmith.com.au/help/about-dick-smith/our-history. [Accessed 23

August 2015].

Encyclopaedia Britannica 2015, ‘Australia aviator and Businessman.’ [ONLINE]

Available at: http://www.britannica.com/biography/Dick-Smith-Australian-aviator-

and-businessman. [Accessed 23 August 2015]

Entrepreneur 2015, ‘Steve Jobs: An Extraordinary Career’. [ONLINE] Available at:

http://www.entrepreneur.com/article/197538. [Accessed 23 August 2015]

Non-Commercial, Share Alike License, ‘Creative Commons Attribution’, 2011,

Entrepreneurial Behavior: Transforming an Innovative Idea into an Entrepreneurial

Product. 1st ed. NC-CA: Textbook, Equity Inc.