Bill Gates’ Entrepreneurial Journey

Discuss about the ICT Enterpreneurship for Information Systems in Developing Countries.

Bill Gates was born in the year 1955 in a family consisting of rich political, business and community service background. Bill gates believed in achieving the factor of success by means of hard work. He also believed that if there is a goal and a person believes in himself and trust himself he can easily reach their own target and goal of life. These characteristics can be stated as one of the most important aspect relating to a good entrepreneur. Bill Gates along with his close friend formed an organisation of their own named Traf-O-Data. The main functionality of the company was to measure flow of traffic. The revenue which was earned from the project was around $20,000 (Cunningham, Cunningham & Ekenberg, 2016). The company was in role till gates was in university and later on when he left the university he formed Microsoft. 

There are different factors which play a vital role to become a successful entrepreneur one of the crucial factors are the self-discipline sector. This factor can directly lead to success in business as well as in life. The main difference between a successful entrepreneur and a failure is that an entrepreneur who is successful will make a habit of doing things which helps them to excel in their field of expertise.

The sense of direction and the field of expertise which a person wants to indulge into can be considered to be very much important due to the factor that if a person does not have aim, then it could directly lead to a problem (Brzozowski, Cucculelli & Surdej, 2017). One of the aspects which should be taken into consideration is that due to the rapid change and turbulence in the field of marketplace most of the owner of the business has been reduced to activity relating to daily life almost like a firefighter. Most of the time should be engaged in achieving the goal which is set rather than planning and thinking about the gaol.Scenario 2

The suggestion which is provided from the end of a family end to distance first from the atmosphere of collage is justified due to the factor that developing a company would be requiring an ample amount of engagement and dedication. As suggested by (Corno, Lal & Colombo, 2015) company formation can be considered as a job in hand and not an easy job at hand. It can be stated that to successfully exhibit the characteristics of business

Entrepreneurial Characteristics for Success

To write an effective business plan, there are three rules which have to be followed which would be providing a justified output of the plan.

• One of the basic steps in the sector of business writing is keeping the plan short. The plan has to be readable. If the plan is a long one about 100 pages, no one would be trying to read to indulge into the plan. Secondly, the plan should be a tool which would be used to grow and run the business. The plan would be something which would be used and modified based on the primary plan.
• This step mainly involves knowing the audience of the plan. If the business plan is an information technology oriented something then the person who would be indulging in making the plan should be an engineer. The plan should consist of proper utilization of the resources to make it a successful plan.
• Learning as you should be one of the most important plans in this sector. The person who is planning to initiate a business plan should not be intimidated. Writing a business plan may seem to be very much complex, but it can be stated that is not such a difficult job at hand to perform.

Business plan should have a proper language which would be can be accessible by any person who is in concern of the project. In most of the cases it is seen complexity of the plan makes the final approach of the project complex and it finally reaches a stage were the project cannot be undertaken(Corno, Lal & Colombo, 2015). Primarily it should be taken into consideration that the plan is very much basic so that after its successful implementation advanced features can be added into the project.

 Two local IT business owners who are taken into consideration are stated below:

• Hello Roaming
• AisKosong

The new start-up was launched to provide travellers with a plan ahead to SIM card purchasing for five major Asian countries. The organization majorly include into globalization market due to the factor that they would be indulging with more customer base and would be predominantly indulging in more activity (Yunis, El-Kassar & Tarhini, 2017). The organization aim at providing service worldwide so that they can directly expand their network and provide standard service to everyone.

The organization in recent times majorly indulge in providing a discount to students relating to apparel and food items (Bramann, 2017). In recent times it can be stated that the organization is based locally providing service to the students. They majorly indulge in domestic business as they opt for carrying out business for the localities and carrying a more customer based is locally based.

It can be stated here that internet has directly helped most of the small firms due to the factor that it has helped themselves to indulge more in the international standard of business (O’Flaherty et al., 2017). They can directly get hold of the situation which is present in the global sector of business and gets some sort of idea about the international standard of business. It can be helpful also in the sector of implementing policies and doing future planning of the business.

Some of the challenges which are faced by a small business when they go global are stated below as well as their mitigation strategy.

The business body can be unfamiliar with the culture of the country in which they are trying to expand into.

Proper planning should be incorporated into the working so that they can have a clear plan of what should be the planning in this sector.

Best Practices for Writing an Effective Business Plan

Communication can be a barrier in this sector. If there is a lack of communication, it could directly hamper the functionality of the business.

ommunication should be given utmost priority as this would eventually affect the internal as well as the external working of the organization.

Workforce requirement for conducting the operation can be very much important. Additional hire of personal can directly affect the budget of the organization and would be requiring more additional investment.

Planning of the workforce requirement should be done in the initial phases of movement (Cunningham, 2015). This would directly reduce the risk-oriented factors which can be indulged into the internal working of the organization. 

References

Asongu, S. A., & Nwachukwu, J. C. (2018). Openness, ICT and entrepreneurship in sub-Saharan Africa. Information Technology & People, 31(1), 278-303.

Berrio, S. E. C., & Redondo, R. P. (2018). Impact of ICT in the Generation of New Services Companies.

Bramann, J. U. (2017). Building ICT Entrepreneurship Ecosystems in Resource-Scarce Contexts: Learnings from Kenya’s “Silicon Savannah”. In Digital Kenya (pp. 227-264). Palgrave Macmillan, London.

Brzozowski, J., Cucculelli, M., & Surdej, A. (2017). The determinants of transnational entrepreneurship and transnational ties’ dynamics among immigrant entrepreneurs in ICT sector in Italy. International Migration, 55(3), 105-125.

Corno, F., Lal, R., & Colombo, S. (2015). Entrepreneurship and new venture creation in Italy: Key issues and policy directions. In Entrepreneurship in BRICS (pp. 125-140). Springer, Cham.

Cunningham, P. (2015, November). Insights into open innovation and ICT entrepreneurship in Africa. In Technology and Society (ISTAS), 2015 IEEE International Symposium on(pp. 1-8). IEEE.

Cunningham, P. M., Cunningham, M., & Ekenberg, L. (2016). Factors impacting on the current level of open innovation and ICT entrepreneurship in Africa. The Electronic Journal of Information Systems in Developing Countries, 73(1), 1-23.

Ezeano, V. N., Ezeano, N., Peter, A., & Ezeano, C. I. (2016). Deploying ICT with Entrepreneurship Culture can Fight Cyber-Crime Menace in developing countries. West African Journal of Industrial and Academic Research, 16(1), 58-67.

 Jansen, S., van de Zande, T., Brinkkemper, S., Stam, E., & Varma, V. (2015). How education, stimulation, and incubation encourage student entrepreneurship: Observations from MIT, IIIT, and Utrecht University. The International Journal of ManagementEducation, 13(2), 170-181.

Margarita, I.Å., 2014. ICT and entrepreneurship: social network marketing. Entrepreneurship and Sustainability Issues, 2(1), pp.19-29.

O’Flaherty, B., Organ, D., Alonso, D., Pramatari, K., & Trachana, T. (2017). TOWARDS BORN EUROPEAN ICT ENTERPRISES-THE CHAL-LENGES OF EUROPEAN ICT ENTREPRENEURSHIP.

Yunis, M., El-Kassar, A. N., & Tarhini, A. (2017). Impact of ICT-based innovations on organizational performance: The role of corporate entrepreneurship. Journal of Enterprise Information Management, 30(1), 122-141.

Zhang, F., & Li, D. (2018). Regional ICT access and entrepreneurship: Evidence from China. Information & Management, 55(2), 188-198.

A business plan can be considered to be more of a learning and discovery process. This is stated due to the factor that no one can be a professional in the field of business at the starting. Everyone has to learn as the process is started (Zhang & Li, 2018). The aspect of discovering can be considered to be very much important due to the fact the if a business does not indulge the aspect of discovering it cannot be discriminated from the other business bodies.