ASSIGNMENT ON

THE CASE STUDY OF BILL GATES

Prepared for: Dr A. K. M. Saiful Majid Professor E !re"re eurs#i" $%&'()

Prepared by: Safa Tas ee* $+,-(.) BBA (/!# Ba!0#1 Se0!io A

Institute of Business Administration University of Dhaka

Da!e of Su2*issio 3 Se"!e*2er 41 4'(4

The required attributes of a successful entrepreneur

Do !hat you en"oy: T#e "erso al sa!isfa0!io 1 fi a 0ial 5ai 1 s!a2ili!6 a d e jo6*e ! re5ardi 5 o e7s 2usi ess de"e d o !#e i "u! i !o !#e 2usi ess. He 0e if a e !re"re eur e jo6s 8#a! #e is doi 51 !#e i "u! i !o !#e 2usi ess 8ould 2e #i5#1 !#ere26 *a9i 5 su00ess *ore li9el6 !o 0o*e.

$eali%e and utili%e opportunities: A e !re"re eur *us! reali:e a 6 o""or!u i!6 !o 0rea!e a d !o do e8 !#i 5s a d u!ili:e i! i**edia!el6.

&

Be ready for challen'es: A e !re"re eur *us! 2e read6 !o !a9e a 0#alle 5e1 usuall6 !#a! #as *odera!e le;el of ris9.

)ocus on stren'ths and create a competitive advanta'e: T#e su00ess of a 2usi ess de"e ds o i!s o8 s!re 5!#s a d 8ea9 esses. A e !re"re eur *us! ide !if6 !#e 2usi ess7s s!re 5!#s a d 0o 0e !ra!e o !#e*. Har essi 5 !#e s!re 5!# "oi !s *a6 lead !o a 0o*"e!i!i;e ad;a !a5e for !#e 2usi ess

)ocus on continuous improvement: A e !re"re eur *us! 8or9 off e er56 !o 9ee" !#e 2usi ess i a 5ood 0o di!io a d s!ri;e !o i*"ro;e !#e 2usi ess o;er !i*e.

Plan everythin': T#e a0! of 2usi ess "la

i 5 is ;er6 i*"or!a ! 2e0ause i! re<uires !#e

e !re"re eur !o a al6:e ea0# 2usi ess si!ua!io 1 resear0# a d 0o*"ile da!a1 a d *a9e 0o 0lusio s 2ased *ai l6 o !#e fa0!s as re;ealed !#rou5# !#e resear0#. Busi ess "la i 5 also ser;es a se0o d fu 0!io 1 8#i0# is #a;i 5 !#e 5oals a d #o8 !#e6 8ill 2e a0#ie;ed1 o "a"er. , Build a top-notch business team: =o o e "erso 0a 2uild a su00essful 2usi ess alo e. I!>s a !as9 !#a! re<uires a !ea* !#a! is as 0o**i!!ed as 6ou !o !#e 2usi ess a d i!s su00ess. . /ana'e money !isely: E !re"re eurs *us! 2e0o*e 8ise *o e6 *a a5ers !o e sure !#a! !#e 0as# 9ee"s flo8i 5 a d !#e 2ills 5e! "aid. T#ere are !8o as"e0!s !o 8ise *o e6 *a a5e*e !3 i 0o*e a d e?"e ses. 0 1earn ho! to sell: A e !re"re eur *us! 9 o8 #o8 !o sell #is@#er "rodu0!3 i !#e e d of !#e da61 a 2usi ess is all a2ou! i!s 0us!o*ers. As su0#1 a e !re"re eur s#ould fo0us o !#e "ro*o!io al a0!i;i!ies a d "roje0! a "osi!i;e 2usi ess i*a5e. 12 3et to kno! your customers: Ma a5i 5 0us!o*er rela!io s#i"s e.5. 26 "ro;idi 5 !#e 0us!o*ers "erso ali:ed a!!e !io is !#e 9e6 !o 5ai i 5 e8 a d re!ai i 5 old 0us!o*ers.

11 /aster chan'e: A e !re"re eur *us! *a9e sure s@#e is 9ee"i 5 u" 8i!# !#e 0#a 5i 5 #i5#-!e0# 8orld as i! sui!s !#e 2usi ess eeds. 1# Invest in yourself: To" e !re"re eurs i ;es! i !#e*sel;es 9 o8i 5 !#a! resour0es su0# as 2oo9s1 "u2li0a!io s1 se*i ars1 8or9s#o"s 8ill i*"ro;e !#eir u ders!a di 5 of 2usi ess a d *ar9e!i 5 fu 0!io s a d s9ills. 1& Be accessible: A e !re"re eur *us! *a9e i! eas6 for "eo"le !o do 2usi ess 8i!# #i*@#er *ea s !#a! s@#e *us! 2e a00essi2le a d 9 o8led5ea2le a2ou! #is@#er "rodu0!s a d ser;i0es. 1( /aster the art of ne'otiations: T#e a2ili!6 !o e5o!ia!e effe0!i;el6 is u <ues!io a2l6 a s9ill !#a! e;er6 #o*e 2usi ess o8 er *us! *a9e e;er6 effor! !o *as!er. 1* 4ever 'ive up: A e !re"re eur s#ould e;er 0o sider !#e 0#a 0es of failure a d rele !lessl6 8or9 !#rou5# a 6 "ro2le*1 see9i 5 ad;i0e fro* a e?"er! if eeded. S@#e *us! 2e a0#ie;e*e ! orie !ed a d s!ri;e !o rea0# #is@#er o8 2usi ess 5oals. 1+ 3ive back to the society: A e !re"re eur s#ould 5e! i ;ol;ed i 0#ari!6 8or9 !o fulfill !#e "ur"ose of i!s 2usi ess !o 2e efi! *a 9i d a d also 2uild a 5ood 2usi ess re"u!a!io . The key factors that made Bill 3ates a successful entrepreneur (. Pursuin' one5s interest: Si*"l6 "u!1 if a 6!#i 5 is 8or!# doi 51 i! is 8or!# doi 5 8ell. E<uall6 i*"or!a ! is !#e eed !o 0o s!a !l6 i o;a!e. Bill Ga!es reali:ed #is "assio !o8ards 0o*"u!ers a! a ;er6 earl6 a5e a d 8e ! o !o follo8 i!1 e;e dro""i 5 ou! of Har;ard 8i!# !#e 0o se ! of #is "are !s i order !o !ra sfor* #is drea*s i !o reali!6. 4. $eali%in' and utili%in' opportunities: Bill Ga!es Used !#e o""or!u i!6 !o lear "ro5ra**i 5 alo 5 8i!# #is si*ilarl6 i !eres!ed frie ds usi 5 !#e s0#ool7s e<ui"*e ! +eali:ed a d used !#e o""or!u i!6 !o s!ar! #is o8 0o*"u!er sof!8are 0o*"a 6 !#rou5# !#e release of !#e MITS Al!air //'' 2ased o !#e I !el /'/' CPU 3. )ocus3 Bill Ga!es #as de*o s!ra!ed o;er earl6 !#ir!6 6ears !#e i*"or!a 0e of 0lari!6 of !#ou5#! a d e?e0u!io . U li9e *a 6 of #is 0o !e*"oraries1 #e did o! *o;e a8a6 fro*

!#e do*ai #e u ders!ood 2e!!er !#a a 6!#i 5 else - sof!8are. He #as "ursued !#e o2je0!i;e of do*i a 0e i sof!8are i 5e eral a d o"era!i 5 s6s!e*s i "ar!i0ular !#a! #as fe8 "arallels. Ae !uri 5 i !o u fa*iliar !erri!or6 *a6 2e fas#io a2le 2u! 0arries a #i5# de5ree of ris9. Fo0us also *ea s !#e a2ili!6 !o "ursue o e>s 5oals 8#a!e;er !#e o2s!a0les *a6 2e. Su0# a de5ree of "erse;era 0e is #ard !o 0o*e 26. 4. Thinkin' bi'3 Alo 5 8i!# fo0us1 !#e a2ili!6 !o drea* 2i5 a d "ursue !#a! 8i!# si 5le*i ded de!er*i a!io se!s Ga!es a"ar! fro* o!#er e !re"re eurs. Des"i!e o! #a;i 5 a s!ud6 "la a d lea;i 5 u i;ersi!61 #e #ad full 0o fide 0e i #is o8 !ale ! a d 8as de!er*i ed !o "ro;e !#a! !#e rou!e #e #ad !a9e 26 dedi0a!i 5 #is life !o 8or9 for #is "assio 8as 8or!# i!. B. 6hallen'e-acceptin' nature: A! a s"ee0# i MIT1 #e as9ed !#e s!ude !s !o !a9e o !#e #ard "ro2le*s of !#e 8orld i !#eir fu!ures1 so*e!#i 5 !#a! #e #as do e all #is life 8#i0# !oo9 #i* !o !#e "i a0le of su00ess as a e !re"re eur.

C. 7ision: Bill Ga!es 8as a ;isio ar6- #e *ade sou d 2usi ess deals e.5. !#ose 8i!# IBM a d SCP a d *ade #is 0o*"a 6 !a9e a lea" for8ard. Ga!es did o! offer !o !ra sfer !#e 0o"6ri5#! o !#e o"era!i 5 s6s!e*1 2e0ause #e 2elie;ed !#a! o!#er #ard8are ;e dors 8ould 0lo e IBM>s s6s!e*. 7. 1earnin' as a life-lon' process3 T#ou5# dro""i 5 ou! of 0olle5e !o #is drea*s1 Bill Ga!es #as "ro2a2l6 read a d 8ri!!e *ore !#a *os! of us e;er 8ill. I !#e "ro0ess1 #e #as s#o8 !#e li*i!s of for*al edu0a!io . I*"or!a ! as for*al edu0a!io is1 "er#a"s i! is *ore i*"or!a ! !o reali:e !#a! lear i 5 is a life-lo 5 "ro0ess. /. 1ove to!ards one5s business: Duri 5 Mi0rosof!>s earl6 6ears1 all e*"lo6ees #ad 2road res"o si2ili!6 for !#e 0o*"a 6>s 2usi ess. Ga!es o;ersa8 !#e 2usi ess de!ails1 2u! 0o !i ued !o 8ri!e 0ode as 8ell. I !#e firs! fi;e 6ears1 Ga!es "erso all6 re;ie8ed e;er6 li e of 0ode !#e 0o*"a 6 s#i""ed1 a d of!e re8ro!e "ar!s of i! as #e sa8 fi!. He a55ressi;el6 2roade ed !#e 0o*"a 6>s ra 5e of "rodu0!s1 a d 8#ere;er Mi0rosof! a0#ie;ed a do*i a ! "osi!io #e ;i5orousl6 defe ded i!. D. 8trictness in mana'ement: He 8as also s!ri0! i #is *a a5e*e ! s!6le1 e;e 2ei 5 ;er2all6 0o*2a!i;e.

('. Philanthropy: Bill Ga!es #as s#o8 a re*ar9a2le de5ree of 0o sis!e 06 2o!# i #is 2usi ess 5oals a d i #is 5oals i "#ila !#ro"6 - #e is a 5lo2al 0i!i:e . T#e Bill a d Meli da Ga!es Fou da!io #as "ro;ided a e8 di*e sio !o "#ila !#ro"6 26 addressi 5 issues !#a! are 5lo2al i a!ure - *alaria1 0a 0er1 AIDS. He "la s !o e;e !uall6 do a!e DBE of #is 8eal!# !o 0#ari!6.

The entrepreneurial process in 'eneral 1 Idea 3eneration3 E;er6 e8 ;e !ure 2e5i s 8i!# a idea. A idea is 0o sidered !o 2e a des0ri"!io of a eed or "ro2le* of so*e 0o s!i!ue 06 0ou"led 8i!# a 0o 0e"! of a "ossi2le solu!io . # 9pportunity :valuation3 A e !re"re eur *us! reali:e 8#e!#er !#ere is a o""or!u i!6 8or!# i ;es!i 5 i . I ;es!*e ! is "ri 0i"all6 0a"i!al1 8#e!#er fro* i di;iduals i !#e 0o*"a 6 or fro* ou!side i ;es!ors1 a d !#e !i*e a d e er56 of a se! of "eo"le. Bu! !#e e !re"re eur s#ould also 0o sider o!#er asse!s su0# as i !elle0!ual "ro"er!61 "erso al rela!io s#i"s1 "#6si0al "ro"er!61 e!0. & Plannin'3 O 0e a o""or!u i!6 #as 2ee reali:ed1 !#e e !re"re eur eeds !o a "la #o8 !o 0a"i!ali:e o !#a! o""or!u i!6. A "la 2e5i s as a fairl6 si*"le se! of ideas1 a d !#e 2e0o*es *ore 0o*"le? as !#e 2usi ess !a9es s#a"e. I !#e "la 0rea!e !8o !#i 5s3 strate'y a d operatin' plan. ( 6ompany formation;launch3 O 0e !#ere is a suffi0ie !l6 0o*"elli 5 o""or!u i!6 a d a "la 1 !#e e !re"re eurial !ea* s#ould 5o !#rou5# !#e "ro0ess of 0#oosi 5 !#e ri5#! for* of 0or"ora!e e !i!6 a d a0!uall6 0rea!i 5 !#e ;e !ure as a le5al e !i!6. * 3ro!th3 Af!er lau 0#1 !#e 0o*"a 6 8or9s !o8ards 0rea!i 5 i!s "rodu0! or ser;i0e1 5e era!i 5 re;e ue a d *o;i 5 !o8ards sus!ai a2le "erfor*a 0e. T#e e*"#asis s#if!s fro* "la 0arr6i 5 ou! !#e "la s. i 5 !o e?e0u!io . A! !#is "oi !1 !#e e !re"re eur 0o !i ues !o as9 <ues!io s 2u! s"e ds *ore !i*e i i 5 "#ase !#e e !re"re eur re<uires !o

The entrepreneurial process for Bill 3ates (. Idea 3eneration: Bill Ga!es 8as *ai l6 dri;e 26 #is "assio !o8ards 0o*"u!er sof!8are. He 8a !ed !o de;o!e #i*self !o de;elo"i 5 0o*"u!er "ro5ra*s a d de0ided !o e?"loi! !#e idea 0o**er0iall6 26 o"e i 5 a 0o*"a 6. 4. 9pportunity :valuation: Bill Ga!es reali:ed !#e i**e se 2usi ess "o!e !ial of 0o*"u!er sof!8are a d #e 0e 2e0a*e !#e "io eer of !#e "erso al 0o*"u!er re;olu!io . For e?a*"le1 #e 0o !i ued !o de;elo" 0o*"u!er "ro5ra*s !#rou5#ou! #is s!ud6 life 8i!# a drea* !o !ra sfor* i! i !o a 2usi ess o e da6. He #ad o 0e *ade a re*ar9 !o o e of #is "rofessors a! Har;ard !#a! #e 8ould 2e0o*e a *illio aire 26 !#e a5e of &'. &. Plannin': Al!#ou5# Ga!es did o! #a;e a 0o 0re!e 2usi ess "la for Mi0rosof!1 #e "ro0eeded s!e" 26 s!e" 26 de;elo"i 5 a d de*o s!ra!i 5 e8 sof!8are a d *a9i 5 2usi ess deals 8i!# ;arious or5a i:a!io s 8#ile #e 8as a s!ude ! i Har;ard. Fi all61 8i!# !#e e?"erie 0e 5ai ed i #is earl6 ;e !ures1 #e de0ided !o o"e #is o8 0o*"a 6 Mi0rosof! 8i!# #is 0#ild#ood frie d Paul Alle . F. 6ompany formation;launch: Mi0rosof! 8as es!a2lis#ed !o de;elo" a d sell BASIC i !er"re!ers for !#e Al!air //''. I! rose !o do*i a!e !#e "erso al 0o*"u!er o"era!i 5 s6s!e* *ar9e! 8i!# MS-DOS i !#e *id-(D/'s1 follo8ed 26 !#e Mi0rosof! %i do8s li e of o"era!i 5 s6s!e*s. B. 3ro!th: Mi0rosof! 5re8 u" !o 2e !#e 8orld7s lar5es! sof!8are *a9i 5 0o*"a 6 26 re;e ues a d *ade Bill Ga!es !#e ri0#es! "erso i !#e 8orld fro* (DDB-4''D.

1essons from the case study Bill Ga!es follo8ed #is "assio !o8ards 0o*"u!er sof!8are a d !ra sfor*ed i! i !o a su00essful 2usi ess ;e !ure 8#i0# "ro;es !#a! i order !o su00eed1 a e !re"re eur *us! u der!a9e so*e!#i 5 !#a! s@#e 8ould lo;e !o do. His rele !less lear i 51 s!ro 5 fo0us1 a2ili!6 !o drea* 2i51 ;isio ar6 a!!i!ude a d #is a2ili!6 !o reali:e a d *a9e full use of o""or!u i!ies *ade #i* o e of !#e *os! su00essful e !re"re eurs i !#e #is!or6 of *a 9i d. Also1 #is "#ila !#ro"i0 a!ure is a""re0ia!ed 8orld8ide. =eedless !o *e !io !#a! #e did fa0e ;arious dra82a09s i #is jour e6 as a 2usi ess*a su0# *ajor le5al issues i 8#i0# #e s#ould #a;e !a9e a *ore ri5id s!a 0e ra!#er !#a 5i;i 5 ;a5ue a s8ers !o 0our! i <uiries a d !ar is#i 5 !#e i*a5e of Mi0rosof!.