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Entrepreneurship, Second Edition by Andrew Zacharakis, William Bygrave

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Chapter 1. THE POWER OF ENTREPRENEURSHIP

(left photo) Bill Gates (bottom left) and Paul Allen (bottom right) with the Microsoft team in December 1978. The company, then almost 4 years old, had annual revenue of $1.4 million. For the fiscal year ended June 30, 2009, Microsoft's annual revenue was $58.4 billion and it had 95,736 employees.

Warren Buffett speaks to the media with Bill and Melinda Gates June 26, 2006 at a news conference where Buffett spoke about his financial gift to the Bill and Melinda Gates Foundation in New York City. Buffett, ranked as the second-richest man in the world-just behind Bill Gates, said his $31 billion of Class B shares of Berkshire Hathaway stock, will go to the foundation where it will be put to use in work with health and education programs in underprivileged countries. (Source: (left photo): Courtesy Microsoft; (right photo) Spencer Platt/Getty Images, Inc.)

This is the entrepreneurial age. More than 500 million persons worldwide either were actively involved in trying to start a new venture or were owner-managers of a new business in 2010. []

[] This chapter is written by William D. Bygrave.

More than fifteen hundred new businesses are born every hour of every working day in the United States. Entrepreneurs are driving a revolution that is transforming and renewing economies worldwide. Entrepreneurship is the essence of free enterprise because ...

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