Entrepreneurs in IT sector

By Mark Wilson

In times of technological development and progressive globalization, new economic branches are emerging but some traditional one disappeared. In this article you will read about entrepreneurs in IT sector. Entrepreneurs play a key role in the market economy. They have a significant impact on economic growth and the creation of new jobs.

Entrepreneurs in IT sector

One of the economic fields that have been born in the last few decades is the IT industry. According to John Daintith, IT is “the application of computers to store, study, retrieve, transmit, and manipulate data”

Entrepreneurs in IT sector

Precise analysis of IT is not the purpose of this essay, but it’s worth paying attention to the words” the application of computers. “As you know, computer components are hardware and software. You cannot use computer hardware without proper software.

So when the first computers came to producing, there was a huge demand for software (operating systems and for applications) with them. To be in the emerging market, it was necessary to have specialized knowledge which was not as widespread as it is today.

One of the people with the “secret knowledge” was the young American computer scientist Bill Gates. However, this article will not focus on the company created by him, or on hundreds of different products that “Microsoft” has successfully launched into the market. The subject matter of the study will be the characteristics and personality traits that led Bill Gates to where he is today.

Definition of Entrepreneurship

In the specialist literature, we can find many definitions of entrepreneurship or entrepreneur. On the one hand, entrepreneurship is defined as a process, an act of building something new, using their skills and opportunities.

A good example of the treatment of entrepreneurship as a process is described by Robert D. Hisrich and Michael P. Peters. In their opinion entrepreneurship is 

“…the process of creating something new with value by devoting the necessary time and effort, assuming the accompanying financial, psychic and social risks, and receiving the resulting rewards of monetary and personal satisfaction and independence.”

Another point of view of entrepreneurship focuses on a set of characteristics that describe a particular method of doing things. We can identify activity, risk-taking, or adaptability to changing conditions here. Such an approach to business is presented by British economist Mark Casson. In his publication “The Entrepreneur – an Economic Theory”.

Entrepreneurs in IT sector, summary

According to the author, entrepreneurship is the ability to make decisions and to coordinate the resources available. The above sentence could be properly used as a definition of the entrepreneurs in IT sector. An entrepreneur is a person with specific personality traits.

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