Entrepreneur: Michael Dell
Company: Dell Computer Corporation
Founders: Michael Dell
Year Started: 1984
Description of Business:
Dell Computer Corporation provides products and services for information-technology and Internet infrastructures. The company’s revenue for the past four quarters totaled $31.2 billion. Dell features one distinct and innovative business practice: its products are not manufactured until after they’ve been ordered. With Dell, customers design a personal computer based on their own specifications. After their order is submitted, the computer is assembled.
Biography of Michael Dell: Dell was born in 1965 in Houston, Texas, and attended the University of Texas in Austin. Dell has earned the title of "Entrepreneur of the Year" from Inc magazine, was named "Man of the Year" by PC Magazine, "Top CEO in American Business" by Worth Magazine, "CEO of the Year" by Financial World and Industry Week magazines, and was on Business Week’s list of "Top 25 Managers of the Year" from 1997-1999. In 1992, Dell became the youngest CEO to earn a spot on the Fortune 500. He also sits on the U.S. President’s Advisory Council on Science and Technology.
How the Business Started: Michael Dell went to college intending to become a doctor. Meanwhile, his hobby was working with computers. His hobby won out. Dell began selling computers out of his dorm room. And as his new venture progressed, he developed an innovative approach to conducting business: his idea was to sell computers directly to the consumer without going through retailers, and in the process design and deliver a computer based upon the customer’s own specifications. Thus, in 1984, Dell founded the Dell Computer Corporation with $1,000. In 18 years, Dell has grown into a $31.2 billion company. Today, Dell's average earnings are $40 million per day, and it is the largest online commercial computer seller in the world.
Outstanding Contributions:
Entrepreneurs make unique contributions to the American economy: Dell currently has offices in 34 countries with nearly 36,000 employees. Recognizing the extra and unnecessary costs of retail distribution, Dell’s innovative direct service industry has created a PC that is inexpensive and designed to meet the needs of the individual customer. Michael Dell currently is the longest-serving CEO in the PC industry.
Entrepreneurs create innovations that improve our quality of life: Michael Dell has established a number of foundations within his organization committed to philanthropic and community services. These foundations work to advance educational, environmental, business, economic, and social issues.
Entrepreneurs create new jobs: In just 18 years, Dell has grown from a one-person operation to a company of 36,000 employees. In 1988, when Michael Dell took his company public, Dell employed 650 people and posted sales of $159 million.
Entrepreneurs improve our position in global economic competition: Dell’s corporate headquarters are in Austin, Texas, where the company was founded. Texas also is home to Dell Americas, the regional business unit for the United States, Canada and Latin America. Dell has regional headquarters in England, for Europe, Middle East and Africa; in Singapore to serve Asia-Pacific; and in Kawasaki, Japan, for the Japanese market. The company manufactures its computers in six locations: Texas, Tennessee, Brazil, Ireland, Malaysia, and China.
Michael Dell was born in 1965 in Houston, Texas, and attended the University of Texas in Austin. Dell has earned the title of Entrepreneur of the Year from Inc magazine, was named Man of the Year by PC Magazine, Top CEO in American Business by Worth Magazine, CEO of the Year by Financial World and Industry Week magazines, and was on Business Week�s list of Top 25 Managers of the Year from 1997-1999. In 1992, Dell became the youngest CEO to earn a spot on the Fortune 500. He also sits on the U.S. President�s Advisory Council on Science and Technology. Provided by: National Commission on Entrepreneurship. Article on michael, dell by National Commission on Entrepreneurship
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