The free entreprise system helped Steve Jobs, a famous entrepreneur to start his own technology company, Apple Inc. and to make it become an influencial, popular company that still prospers these days.
A free enterprise system provides individuals the opportunity to make their own economic decisions without restriction from the government. It allows the supply and demand of consumers to determine the success or failure of an economic endeavor. Free enterprise gives the opportunity to anyone, regardless of whealth, status, or background to have a chance to rise as high as the talent and hard work can take someone. In a free enterprise system, one is free to choose his own path. No one picks one's proffesion and or limits what he or she can do. Also, free enterprise excels in developing solutions. It encourages, embraces and rewards innovation.
Steve Jobs was a very influencial, successful entrepreneur. He was the adopted son of a Mountain View, Calif., machinist. He showed early interest in electronics and gadgetry. Steve Jobs didn't finish the college, taking a part-time job in order to finance a trip to India to study Eastern culture. When he returned to the U.S., he convinced a friend, Wozniak, to go into business with him. They set up shops in Jobs' parents' garage, and began working on pototype of Apple I. To generate the $1350 in capital they used to start Apple, Steve Jobs sold his Volkswagen microbus, and Steve Wozniak sold his Hewlett-Packard calculator. Although the Apple I sold mainly to hobbyists, it generated enough cash to enable Jobs and Wozniak to improve and refine their design. That is the way the business grew. Increasing competition caused the company to lose nearly half its market to IMB. Faced with declining sales, Jobs introduced the Apple Macintoch and the Mac as a home computer, but it was too expensive for the consumer market. Apple faced a period of decline and Jobs resigned in 1985. After more than a decade, he came back to...
Please join StudyMode to read the full document