Module Title- International Entrepreneurship

Module Code- BMG 936

Module Co-ordinator-  Hajra Omer
A Case Study of Bill Gates
Assignment 1 - Part A
 1. Introduction
The contributions of entrepreneurs to a country's GDP are crucial to the economy's growth
because they facilitate innovative ideas and growth, raise the quality of life for the general
populace, push for positive social change, enrich the lives of business owners, and inspire new
ideas and technologies. The word "entrepreneur" comes from the French word for "one who
undertakes," and it is used to describe someone who establishes a new initiative or enterprise
with the goal of making a profit or accumulating riches for themselves, despite the fact that
doing so involves taking investment risk. Therefore, entrepreneurial endeavors not only
generate money for the individual but also notably contribute to the GDP, engage in community
development, satisfy consumer demand through the introduction of novel products, and
encourage scientific inquiry (Eurofound, 2012).
2. Discussion
As a youngster, Bill Gates was already interested in computer programming, which sparked his
interest in starting his own business. Bill Gates is a brilliant businessman who built Microsoft
with his partner Paul Allen and who has shown remarkable foresight and initiative in his life. The
rapid expansion of Microsoft under Bill Gates's stewardship may be attributed to the company's
cutting-edge technology, competitive corporate strategy, forward-thinking management, and the
ability to learn from past failures.
2.1 The Motivation that Encouraged Bill Gates to be Entrepreneur
Various pull and push elements (such as family and friends' encouragement, formal training,
relevant expertise, the entrepreneur's own desire for independence, and the availability of a
lucrative market) encourage or discourage the entrepreneur from launching their business. But
some people are just born to be business owners; for example, Bill Gates was inspired to start
Microsoft by his lifelong love of both computer programming and engineering, which led him to
team up with his childhood buddy Paul Allen to launch a series of successful start-ups.
Successful entrepreneurs, like Bill Gates, have specific attributes, such as enthusiasm,
determination, self-confidence, courageous, tenacity, inventiveness, or personal belief, which
helped him become one of the successful entrepreneurs in today's dynamic business
environment, as stated by Carter and Jones-Evans (2012).
2.2 Tech Entrepreneur
Entrepreneur and tech expert Bill Gates got his first computer job when he was just 13 years
old. The secret to being a successful company entrepreneur, according to Bill Gates, is to be
innovative and to have an aggressive tactical business plan because business is a money game
with distinct risks. Given Bill Gates's foresight into the future of technology and its impact on
business, it's no surprise that he founded a company centered on technological advancements
like Microsoft. Since its inception, Microsoft has revolutionized the computer software industry
with the release of Windows and other ground-breaking operating systems and applications. Bill
Gates is widely regarded as one of the world's most successful business people because, under
his guidance, Microsoft grew rapidly, gained a solid reputation in the marketplace, and
developed significant advantages over its competitors (Baumol, Schilling and Wolff, 2009).
2.3 Entrepreneurs Born or Made
Many academics have debated over the past few decades whether or not entrepreneurs are
born or made. However, great entrepreneurs are motivated by goals and have characteristics
that contribute to their success. For example, Bill Gates recognized that technological
innovation will revolutionize the commercial world, so he led Microsoft into uncharted territory to
generate new possibilities. These are some of the characteristics shared by successful
entrepreneurs:
Vision
Self-motivated
Passion
Risk taker
Creativity
● Bill Gates knows exactly why his company exists, what it hopes to achieve, and how it
plans to get there in the future.
● As a person who cares deeply about the projects he pursues, Bill Gates is driven by his
love for those projects, making this quality an essential one.
● The ability to think outside the box is a hallmark of great business leaders like Bill Gates,
whose ingenuity has propelled Microsoft to the forefront of the technological industry.
● Entrepreneurs who fail and learn from their mistakes are the ones who go on to create
new, better solutions.
● Bill Gates was a self-motivated entrepreneur, and this gave him the strength to
persevere through setbacks and pursue his goal despite the many problems he faced
along the way.
Successful entrepreneurs are made, not born, since they pursue their initial motivation out of
passion and adapt their goals as they go (Burns, 2014). Successful entrepreneurs are not born
that way; rather, they develop the traits and skills necessary to succeed through their own
unique combination of passion, experience, interest, and training. Also, Bill Gates was great
because he was curious, open to new ideas, focused on getting things done, and optimistic, all
of which contributed to his own success and, in turn, helped Microsoft expand into new markets.
2.4 Effectuation Theories
Effectuation, a theory developed by Saras Sarasvathy in 2001, describes a method of decision-
making and action-taking in entrepreneurial processes, in which individuals determine the next,
best step by evaluating their resources in light of their goals, and maintain a constant balancing
act between their goals, resources, and actions. In causal logic, an end result is established,
and the means by which it will be attained are determined by considering the available
resources and developing an appropriate plan. According to Sarasvathy, the causal reasoning is
inappropriate for entrepreneurial operations due to the inherent uncertainties and dangers
involved. There are four pillars of effectuation:
● Crazy Quilt: By forming new alliances, the initiative can gain access to fresh funding
and potentially explore new avenues.
● Affordable loss: To avoid going bankrupt, startups should only risk money the founders
can afford to lose.
 ● Bird in Hand: One must find answers in the here and now using whatever means are at
hand.
● Lemonade Principle: this states that failure and unexpected events can be exploited to
their advantage by spurring the discovery of fresh chances.
The Pilot-in-the-plane worldview, central to effectuation, holds that each person has the power
to shape their own future by their own actions; in other words, people are responsible for
creating the possibilities that present themselves in their lives. Utilizing this worldview and these
four principles, entrepreneurs may determine the optimal course of action for their projects and
make necessary course corrections as they go.
3. Conclusion
Bill Gates's early exposure to computer programming sparked a curiosity that would later lead
him to pursue business opportunities. Bill Gates is a smart, visionary, and self-made man who,
along with Paul Allen, founded the Microsoft companies. Microsoft evolved fast under Bill Gates'
innovative leadership as a result of technological advancements, aggressive commercial
strategies, foresight, and the acceptance and application of lessons learned from past failures.
There is no such thing as a "born entrepreneur," because even those who achieve great
success in business often begin with a narrow focus due to a strong passion, only to broaden
their focus as they gain experience and success. Successful entrepreneurs are not born that
way; rather, they develop the traits and skills necessary to succeed through their own unique
combination of passion, experience, interest, and training. Furthermore, Bill Gates was
successful because he was always curious, willing to try new things, confident in his own ideas,
focused on getting things done, and optimistic about the future of Microsoft (McDougall, and
Oviatt, 2000).
Part B
1. Introduction
Eric (2011) explains that the phrase "Technology Entrepreneurs" refers to those that finance
technological ventures like Microsoft, Samsung, etc. Technology entrepreneurship, as defined
by Thomas, Robert, and Michael, (2009), is the process by which an entrepreneur creates a
new business or businesses based on technological innovation over which the entrepreneur
exercises complete authority. Business enterprises, whether small or large in scale, create jobs,
raise living standards, foster community growth, and make major economic contributions to their
host countries.
2. Technology Entrepreneurship Features
Businesses that deal with technology can be broken down into two distinct types: those that
create new technologies and those that employ existing ones. Entrepreneurial technology
developers create new technologies for the benefit of others, while technology adopters
recognize and assess the ways in which these tools might be put to work to meet the demands
of the marketplace. Innovating and being creative are two of the most crucial characteristics of
successful entrepreneurs in the technology development space. To truly meet the demands of
the market, however, the value that a product or service brings is just as crucial as the product
or service itself. As an added bonus, the services provided by businesses whose founders are
heavy tech users tend to be very efficient due to the utilization of cutting-edge technologies.
Entrepreneurs in the technology sector play a crucial role in promoting innovation because they
are the ones responsible for bringing new products and services to consumers. Technology is
critical in the present digital age because it helps people and businesses in countless ways.
These include cutting expenses and saving time, improving efficiency and giving people faster
access to important data and interpersonal connections. Bill Gates founded Microsoft on the
belief that technological advancements would have a profound impact on the future of business.
Since the company's inception, Microsoft has revolutionized the computer industry with the
introduction of groundbreaking products like Microsoft Windows and Microsoft Dos. Bill Gates is
widely regarded as one of the world's most successful business people because, under his
direction, Microsoft grew rapidly, gained a solid reputation in the marketplace, and developed
significant advantages over its competitors. Bill Gates' early interest in computer programming
and technology led him to found Microsoft with his childhood friend Paul Allen.
2.1 Social Entrepreneurs using Tech-based solution
Jack Sim, a social entrepreneur, says that digital technology may be utilized to generate
possibilities for the poorest populations, but only if stakeholders work together. All by itself, no
organization can lift the world's impoverished out of poverty. The market potential for this
endeavor is enormous, making it possible for all interested parties to keep busy. As a result of
advancements in digital technology, capitalizing on such openings is simpler than ever. Through
the widespread availability of low-cost smartphones, e-payment, and e-commerce technologies
are helping businesses connect with customers directly, cutting out the intermediary and so
lowering transaction costs and improving autonomy. As a result of the information revolution
and the rise of digital technologies, social entrepreneurs are increasingly able to operate on a
global scale, increasing their impact and allowing them to extend their microcredits to a wider
audience. This, in turn, has spawned new types of business ecosystems and networks, which in
turn, generate economic value (Eric, 2011).
3. Conclusion
Because technology is now a necessary part of everyone's daily life or perhaps just survival, it
has altered the commercial landscape. As a result, there is a growing number of tech startups
as a direct response to consumer demand. Investing in an entrepreneur who founded a
technology-based firm like Microsoft, Apple, etc., are both examples of "Technology
Entrepreneurs," as defined by Eric, (2011). Bill Gates is widely regarded as one of the world's
most successful business people because, under his direction, Microsoft grew rapidly, gained a
solid reputation in the marketplace, and developed significant advantages over its competitors.
Bill Gates' early interest in computers and programming led him and his childhood friend Paul
Allen to launch successful businesses in those fields.
References
Eurofound (2012); born global: the potential of job creation in new international businesses,
publications office of the European union, Luxembourg

Mcdougall, p. p., & Oviatt, b. m. (2000); international entrepreneurship: the intersection of two
research
paths. academy of management journal, 43, 902–908

Baumol, w. j. schilling, m. a. and Wolff, e. n. (2009); the superstar inventors and entrepreneurs:
how were they educated? journal of economics and management strategy

Read, s. (2011); effectual entrepreneurship, Routledge, London

Thomas, d. Robert, h. and Michael, l. (2009); technology entrepreneurship, 1st edition;

academic press

Eric, r. (2011); the lean start-up: how today's entrepreneurs use continuous innovation to create
radically successful businesses, random audio publisher

The secret of success from the story of Bill Gates available from www.medium.com
(Accessed on 21st November 2022)

Mcdougall, p. p., Oviatt, b. m., & Shrader, r. c. (2003); a comparison of international and
domestic new ventures, journal of international entrepreneurship, 1, 59–82

Carter, s., & jones-Evans, d. (2012); enterprise and small business: principles, practice & policy,
3rd ed, prentice-hall; London

Dew, n., read, s., sarasvathy, s.d. and Wiltbank, r. (2009); “effectual versus predictive logics in
entrepreneurial decision-making: differences between experts and novices”, journal of
business venturing, vol. 24 no. 4, pp. 287- 309

Loane, s., bell, j., & Cunningham, I (2013); “entrepreneurial founding team exits in rapidly
Internationalising SMES: a double edged sword, international business review, vol. 23,
(2), pp. 468- 477

Burns, p., (2014); new venture creation: a framework for entrepreneurial start-ups, Palgrave
Macmillan, Basingstoke
 Coursework 2
Psychology of the (international)
entrepreneur
Introduction
Many entrepreneurs aren't magicians. Entrepreneurs are prepared. Young entrepreneurs lack
manufacturing and sales abilities. Entrepreneurs need education (J. W. Carland, F. Hoy and J.
A. C. Carland, 1988). Otherwise, they'll get exploited. New technologies, economic policy, and
societal change create opportunity (Lundvall and Johnson, 1994). Unseasoned entrepreneurs
make bad mistakes (M. Macovei, 2015). After creating new businesses, they may be lost.
They'll supply the right goods and greatest services at the lowest possible price with
development. Training boosts entrepreneurs' risk-taking. All entrepreneurial growth mechanisms
must be modified. Training requires goals. Preparedness is key for young business owners from
similar backgrounds, localities, and cultures. Only eager entrepreneurs will receive training. 
A driven entrepreneur can spot fresh opportunities and anticipate market trends. Since firms are
running out of money, they must find underutilized resources.  Increasing brand recognition
allows new business owners to categorize their demands and estimate market demand before
agreeing on a firm's position (J. J. Wang, X. Zhao and J. J. Li, 2013). Inspired enterprises must
learn about worldwide trade, corporate relationships, and exporting high-quality items in today's
market (J. W. Webb, G. D. Bruton, L. Tihanyi and R. D. Ireland, 2013). New technology pushes
innovators to determine which countries will gain most from their ideas. Scholars have
traditionally assumed that increased manufacturing productivity drives economic growth, but this
has changed (J. Foster and J. S. Metcalfe, 2012).
Literature Review
Creativity comes from curiosity, inventiveness, difficulty, and opportunity. Chinese researchers
argue that humans have a positive psychological propensity towards creativity and innovation
(Duman, 2018). Some researchers say arts teachers need to be innovative with language and
ideas to reach their students. Innovative, constructive, and beneficial action is a good cognitive
state. Creativity is often thought of as an emotional condition (Woodside, A. G., Bernal, P. M.,
and Coduras, A. 2016). Globalized entrepreneurs can predict future challenges. Any good
entrepreneur predicts accurately. Entrepreneurship produces creative marketing techniques.
Willpower drives entrepreneurs. A startup's founding team must understand and evaluate risks.
People are more open than ever about communicating threats to others. A successful business
concept attracts and drives aspiring entrepreneurs. Global entrepreneurs can help presenters
understand how their presentations are received by the business community. Rural company
owners do better than corporate ones, research finds. No matter how intelligent or experienced,
business owners won't succeed without skilled workers. Success stories show how
entrepreneurs conceptualized and started their businesses. It highlights caution and the
prospective firms' practical limitations. Entrepreneurs put themselves in the shoes of huge
organizations to imitate their growth tactics. To help potential competitors break into new
markets, it's crucial to showcase entrepreneurial accomplishments in a variety of newspapers
and settings. It may be wise to praise such employees and give them training and career
possibilities.
Innovation and Entrepreneurship
In order to capitalize on prospects for new businesses and products, entrepreneurs employ their
ingenuity (B. Johannisson, 1988). A person can learn to innovate and put that knowledge into
practice. An entrepreneur is someone who starts a business that serves the public good and
exhibits creativity. To grow a market, entrepreneurs must use their initiative and ingenuity to turn
a good idea into a sustainable business. Making something completely fresh is the most
important part of being creative. This new product can make use of existing infrastructure or it
can introduce ground-breaking, previously unreleased technologies. Great new product
development is possible, or perhaps just a reimagining of an existing product. While there are
many ways to create a cutting-edge plan of action, technological advancement is the path that
will help us succeed as business owners. As a result of technological advancements, we will
swiftly assume a more significant position in the global economy and in all spheres of society. If
the company regularly releases innovative products, it will never have to worry about losing
business to the competition. 
Characteristics of Entrepreneurship
Before discussing the characteristics of entrepreneurs, it is necessary to define one. In
business, an entrepreneur is someone who takes on substantial risk in order to create
something new. As such, an entrepreneur needs to have the following qualities and traits:
One of the traits that an entrepreneur can have is passion. He needs to be motivated by the
goal of turning his business idea into a successful one through strategic marketing. If the idea is
successful, he or she will be able to penetrate the mental picture of businesses who desperately
require his or her concept. The idea he comes up with may be the solution to a problem or it
may be completely novel. A business owner, on the other hand, needs to have a positive and
ambitious outlook when it comes to creating a market for their idea.
Being "self-motivated" is essential for an entrepreneur, as he or she is risking their own money
to launch a business and must persevere through many challenges. It is imperative that he or
she be sufficiently inspired to meet those problems so that morale is not diminished. An
entrepreneur needs the fortitude of mind to overcome any obstacle on the path to success.
The ability to overcome a setback after another without losing hope is a hallmark of success.
Entrepreneurs need to have a remarkable ability to pick themselves up and try again. An
innovator who doesn't give up will learn from their blunders.
A business owner that possesses "versatility" will be successful. In order to evaluate the current
market position, he or she will need to shift their perspective. There will be ups and downs in the
market, or they may simply need help from other people; in either case, he or she must be
competent enough to handle the situation while making a good impression on the other parties
and earning their cooperation. The manager's job is to create a setting where employees feel
safe making decisions and producing quality work.
A person's "exceptional managerial talents" are essential for a business owner. When risking
their own funds to launch a firm, entrepreneurs need to have a positive outlook on their industry
or their venture will inevitably fail. The ability to effectively manage a group can help prevent
catastrophes like this.
Programs to Foster Entrepreneurial Thinking
Existing methods for entrepreneurial development should be rethought so that they can
accommodate the unique circumstances of each type of entrepreneur. Questions from
entrepreneurs crop up at all stages of the supply chain, necessitating preparation at variable
rates. Training helps and inspires would-be business owners. Some considerations are
necessary while training an entrepreneur:
Cultural Development
To some extent, business owners are stymied in their efforts to pioneer innovative practices
because of the survival of outdated social conventions and beliefs. Developing nations have a
substantially higher incidence of this problem. In today's world of industrialized nations,
everyone is encouraged to expand their horizons and try their hand at entrepreneurship. Even
while cultural rigidity is a hindrance, easing restrictions on expression in all areas of life would
spark new business creation.
Economic Environment
Positive economic forecasts have inspired a renaissance of entrepreneurial spirit. As part of its
economic liberalization plan, the government now welcomes NRI stakeholders and actively
encourages them to construct utilities gathered from the enterprise, such as energy production,
communication networks, and so on. Free trade between countries encourages business
owners to search for customers all over the world.
Risk Management
The willingness and ability to take risks and the ability to accurately assess those risks are two
key psychological components of entrepreneurial motivation. A successful businessman will
only accept a "measured" challenge. Problems today are shared. A good example is the ability
of business owners to offload their debts onto the stock market by raising capital through means
that are both sustainable and productive.
Conclusion
There will always be people interested in starting their own businesses. Entrepreneurs live in
such a varied universe that they are able to foresee potential problems and detect them before
they ever materialize. The goal of any excellent entrepreneur is to make accurate predictions.
The existing market structure influences the health of entrepreneurship. Such an industrialized
economy is largely responsible for the rise of entrepreneurship. Increased rates of
entrepreneurship are a boon to the efficient workings of the global economy. A change in
behavior is possible for those who have a strong enough desire to make it so.
References
Duman, B. (2018). The relationship between the entrepreneurship characteristics and
metacognitive awareness levels of pre-service teachers. J. Educ. Training Stud. 6, 152–
159

Woodside, A. G., Bernal, P. M., and Coduras, A. (2016). The general theory of culture,
entrepreneurship, innovation, and quality-of-life: comparing nurturing versus the warting
enterprise start-ups in BRIC, Denmark, Germany, and the United States. Ind. Mark.
Manag. 53, 136–159. doi: 10.1016/j.indmarman.2015. 11.003

B. Johannisson, 1988 “Business formation—a network approach,” Scandinavian Journal of

Management, vol. 4, no. 3-4, pp. 83-99.

J. W. Carland, F. Hoy and J. A. C. Carland, 1988; “Who is an Entrepreneur? Is a Question

Worth Asking,” American Journal of Small Business, vol. 12, no. 4, pp. 33- 39.

B. Ä. Lundvall and B. Johnson, 1994; “The Learning Economy,” Journal of Industry Studies, vol.
1, no. 2, pp. 23-42.

M. Macovei, 2015; “The Austrian Business Cycle Theory: A Defense of Its General Validity,”
Quarterly Journal of Austrian Economics, vol. 18, no. 4, pp. 409-435.

J. J. Wang, X. Zhao and J. J. Li, 2013; “Group Buying: A Strategic Form of Consumer
Collective,” Journal of Retailing, vol. 89, no. 3, pp. 338-351.

J. W. Webb, G. D. Bruton, L. Tihanyi and R. D. Ireland, 2013; “Research on Entrepreneurship in

the Informal Eeconomy: Framing a Research Agenda,” Journal of Business Venturing,
vol. 28, no. 5, pp. 598-614.

J. Foster and J. S. Metcalfe, 2012; “Economic Emergence: An Evolutionary Economic

Perspective,” Journal of Economic Behavior & Organization, vol. 82, no. 2, pp. 420-432.