Different Pathways Essay

Different Pathways Essay Different Pathways Essay Two Entrepreneurs: Two Successes Two Pathways Imani Stephens October 19, 2014 BTM5000-8 Abstract There are many strategies used to have a successful business. Michael Dell is successful because he makes the customer the focus of his company. He also has a good understanding of supply and demand, he steers away from overproduction. Andy Grove has had a few methods of avoiding feeling safe in his business endeavors. Grove’s method of continuous preparation has kept his business successful as well. Both entrepreneurs share the ideas of keeping a plan for future outcomes, striving through obstacles, and providing a product better than their competitors The Entrepreneurs Michael Dell is the founder and CEO of Dell. He has been an entrepreneur since the age of 12. At the age of 19, Dell began experimenting with computer while he was a student in college. In 1984, Dell registered his business as Dell Computer Corporation. â€Å"At age 27, Michael Dell was the youngest CEO of a Fortune 500 company.† (Krames, 2003, p.58) Dell contributes his success to relationships between his company and the customers. Andy Grove is the cofounder and former CEO of Intel. Formerly known as Andras Grof, he migrated to the United States and cofounded Intel in the late 1960’s. Grove’s ability to overcome challenges and constructing management during periods of change has made him successful. Contributions In 1968, Andy Grove, Bob Noyce, and Gordon Moore created a computer chip that could store ever-increasing numbers of transistors. The chips would not only be cost effective but increase the computer’s memory and functionality. Grove and his team predicted the need for their product due to expansion of technology. Michael Dell used a direct model for his company which was â€Å"†¦based on a one-to-one relationship between the company and the costumers-â€Å"(Krames, 2003, p.59) Dell gave the costumer the opportunity to participate in the design of their product and a voice in the company. To assure accuracy and satisfaction, Dell builds the products after the costumer’s order is received. Costumers were given communication resources such as calls, emails, and faxes. Forums were created for costumers to speak with key employees in the company. Resistance In the 1980’s, the Japanese were making computer chips that cost less and were more efficient than the Intel chips. The competition forced Intel to shift production from chips to microprocessors. Another massive change occurred while marketing their new product, â€Å"a minor error† (Krames, 2003, p.140) was discovered in the chip. Grove created a certain amount of fear into his company, which promoted his employees to prepare for unpredictable circumstances. In the 2000’s, when the computer industry declined due