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Inside Intel: Success Factors of a Company that Inspired an Industry

Article Overview: Today, Intel is ranked 49th on Fortune 500’s list of the top revenue grossing companies. Noyce and Moore may no longer be in charge of the daily running of the business they first founded in 1968; however, their impact on not only the company, but also the entire industry can still be felt. The maker of motherboard chipsets, network cards, flash memory drives, graphic chips, embedded processors and more, Intel is an innovator and a leader in the world of electronics and computing. How did two scientists who knew nothing about business become two of the most successful examples of entrepreneurship in history?

Inside Intel: Success Factors of a Company that Inspired an Industry

Today, Intel is ranked 49th on Fortune 500’s list of the top revenue grossing companies. Noyce and Moore may no longer be in charge of the daily running of the business they first founded in 1968; however, their impact on not only the company, but also the entire industry can still be felt. The maker of motherboard chipsets, network cards, flash memory drives, graphic chips, embedded processors and more, Intel is an innovator and a leader in the world of electronics and computing. How did two scientists who knew nothing about business become two of the most successful examples of entrepreneurship in history?

Management: “There is no better chance to train managers than in a start-up, where they have the opportunity to see the entire company as it grows,” says Moore. From the very birth of Intel, Moore and Noyce were determined not to repeat the same mistakes as Shockley – the very mistakes that had made them want to leave in the first place. By placing top priority on their people, and encouraging openness, equality, and responsibility, Intel was able to take full advantage of its workers.

Mistakes: In looking back at his experience at Fairchild, Moore claims it was “excellent on-the-job training.” As entrepreneurs, they were allowed to make all the mistakes they needed to. Fortunately, they found that the quality of their products made up for their shortcomings. This attitude of failing your way to success was imbedded in the culture at Intel. The very best and the brightest were brought on board and given the space to make the mistakes they need to find their way forward.

Hard Work: Moore and Noyce are the first to admit that they knew nothing about business when they first started up their own. However, in admitting their limitations, they were then able to seek out the help of others more qualified than themselves. They also went to work learning all that they could about entrepreneurship. By refusing to shy away from their inexperience and being willing to do what work they needed, Moore and Noyce proved that entrepreneurship could come in all various forms.

Competition: There may have been many missed opportunities along the way, but the lesson Moore and Noyce took away from those experiences was a valuable one. They learned that the key to entrepreneurial success was a healthy dose of paranoia. By being in a constant state of awareness and fear of your competitors, entrepreneurs can become proactive instead of reactive, seizing new opportunities as they present themselves instead of letting them pass them by.

Exclusivity: There is a reason why 75 percent of all new personal computers are produced with an Intel chip inside; the company has established its reputation as the best of the best at what it does. By specializing and focusing on a niche market, Intel was able to not only stand out from the crowd, but grow so large that it was in fact untouchable. From its comfortable perch atop the industry, Intel now watches many of its competitors flounder from one market to the next with no clear vision.

For two lab-coat clad men who had grown up knowing nothing about business, Noyce and Moore have created with Intel one of the greatest success stories of entrepreneurship. Pioneers of their time, Moore and Noyce have left behind a legacy that continues to live on both within the walls of Intel and beyond.

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Article Tags: attitude, better chance, entire company, equality, fairchild, fortune 500s, graphic chips, history management, innovator, intel, job, memory, network cards, noyce, openness, processors, scientists, shortcomings, success factors, top priority



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