The paper "Jeffry Timmons as an Entrepreneur" is a good example of a business case study. According to a model developed by Jeffry Timmons, a successful business company needs to have critical elements of opportunity, resources and entrepreneur so as to grow and develop. This model is evident in Dell Computer Corporation, a company developed by Michael Dell. Michael Saul Dell is in the list of the youngest entrepreneurs with a net worth of billions of dollars. Dell initialized a corporation called PC’ s Limited during his college years at the University of Texas.
His company promptly grew which saw him drop out of college at the age of 19 years. He later changed the name of the company to Dell Computer Corporation. At the age of 27 years, he was named the youngest CEO on the Fortune 500 list of the largest companies in the United States. Dell has received many awards including the “ Top CEO in American Business” of the Worth Magazines, “ Man of the Year” of the PC Magazines, and “ CEO of the year” of the Industry Week, and “ Chief Executives of the Year” of the Chief Executives (Dell Computer Corporation 2001).
Besides being ranked the forty-first richest person in the world, he was worth 15.9 US billion dollars as of 2012. The growth, development, and challenges of Dell Computer Corporation are through the narrative of Michael Dell, who applied Jeffry Timmons’ element of opportunity, entrepreneur and resources so as to be successful. Entrepreneur background analysis The Timmons’ model (Spinelli, Neck, & Timmons 2007) According to Timmons’ model, entrepreneurship is propelled by opportunity and the market defines the opportunity (Spinelli, Neck, & Timmons 2007).
A good business concept is never a good business opportunity, and the existing market environment defines the significance of the concept. A concept only becomes relevant when it is rooted in the products and services that generate or increase values to customers while constantly being attractive, timely and durable. Michael Saul Dell was born on 23rd February in 1965 to a middle-class Jewish family. His father was an orthodontist while his mother, a stockbroker. Dell’ s school years began at Herod Elementary School, Texas (Dell 1965). He also worked in stocks as a part-time job.
Dell was interested in electronic when he first bought his first calculator at the age of seven, which he programmed after junior high. He bought his first computer at the age of fifteen which he dissembled to understand how it functioned. At age sixteen he received his first job selling newspaper subscription for the Houston Post. While making cold calls, Dell observed that the recently married couples and the one moving into the new houses were likely to buy the newspaper (Dell 1965).
He focused on this demographic group by retrieving the names and address from the mortgage and marriage applicants. His income during that year, 1981, was near $18,000 which exceeded the income of his teachers. He used his earnings from selling newspapers to buy himself a white BMW when he joined the University of Texas, Austin. At that time, he began developing an interest in computers as a new business idea. During his years as a freshman at the University of Texas, Dell began the unofficial business of integrating and upgrading parts of personal computers he is a residential building.
His idea was to advance personal computers in the same means people soup up cars so as to sell their cars for enough cash to buy another car and upgrade its parts (Dell 1965). During these times, IBM’ s personal computers cost nearly $3,000. Computer spare parts would be bought for nearly $700. Besides, employees at the PC stores had little information about PC, and these stores were making a profit of nearly $1,000. Consequently, customers lacked support when buying a PC. In addition to these opportunities, Dell realized that personal computer stores were increasing in all Houston (Dell 1965).
Dell saw an opportunity to apply what he already knew and sought what he needed to learn and how to he could learn about it. Dell expanded his business by applying for vendor license and bidding for contracts provided by the states. Although his business developed and grew, his grades suffered at an alarming rate.
Sexton, D. 2001, Wayne Huizenga: Entrepreneur and wealth creator. The Academy of Management Executive, Vol. 15, No. 1
Dell Computer Corporation, 2001, Company facts. www.dell.com
Dell, M, 1965, Directed from Dell, New York, Harper Collins Publishers, Inc.
Spinelli, S., Neck, H, M, & Timmons, J, A, 2007, The Timmons Model of the Entrepreneurial process, In M. Minniti, A. Zacharakis, & S. Spinelli (Eds.), Entrepreneurship: The engine of growth. Westport, CT: Greenwood Publishing Group.