Giving Credit Where Credit Is Due

In: Business and Management

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Giving Credit Where Credit is Due

Foundations for Doctoral Study in Business

(BTM7107-8)

Ransford Addo

Northcentral University

Dr. Francis Maffei lll

Introduction

This research identifies two business professionals, Michael Dell and Andy Grove; their main contributions to their fields; the resistance that each encountered in presenting and furthering their programs; the similarities and differences in their stories; and finally, the factors that may have impacted their success.

Michael Dell

Michael Dell is founder and CEO of Dell Corporation, a fortune 500 company which was the number one stock of the 1990s, soaring almost 90,000 percent (Krames, 2003, p. 58-59). Dell discovered his entrepreneurial abilities early in life when at 12 years, he issued his first product catalog, the Dell Stamps (Krames, 2003, p. 58). Dell has contributed positively to the technological industry by not only building computers, but also showcasing his outstanding entrepreneurial abilities. Through mass customization, Dell revolutionized the industry. According to Draft (2013), “mass customization refers to using mass-production technology to quickly and cost-effectively assemble goods that are uniquely designed to fit the demands of individual customers” (p. 31). Mass customization enabled Dell to achieve significant savings by eliminating intermediaries. Through customer segmentation, Dell was able to determine the needs and specifications of customers, while forecasting the demand. What is unique about this strategy is that, Dell was able to prove that, companies can be successful with mass customization only when the customer is placed at the epicenter of every activity of the organization.

Dell’s success did not come without some major resistance. For instance, “Dell experimented with an indirect model…...

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