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Most Respected Entrepreneurs Globally
By siliconindia
Andrew Grove
A Hungarian-born American businessman, engineer, author and a pioneer in the semiconductor industry, Andrew Grove was the so-founder and CEO of Intel Corporation. Initially Intel manufactured dynamic memory chips. But due to certain unavoidable circumstances, Grove had to take the decision to shut down the production of the memory chips and instead focus on manufacturing microprocessors. He played a key role in negotiating with IBM to use only Intel microprocessors in all their new personal computers.
Under his leadership, the company's revenue increased from $2,672 in its first year to $20.8 billion in 1997 and Intel's stock-market value increased twenty-fold. Grove is credited with having transformed Intel from a manufacturer of memory chips into one of the world's dominant producers of microprocessors powering the brain of more than 80 percent of all PCs. During his tenure, the company oversaw a 4,500 percent increase in its market capitalization from $4 billion to $197 billion making it world's seventh largest company.
He created a culture within Intel that allowed innovation to flourish. He wanted his managers to always encourage experimentation and prepare for changes, making a case for the value of obsession in business.
