...When Dr. Bennis listed broad education as a common factor of “future” leaders in his book “On Becoming a Leader” in 1989 I believe he was correct. A prediction twenty-three years ago has become reality. My interpretation of broad education does not just mean continued education but a combination of learning the facts and ideas behind the subject one is studying. With each generation, education seems to grow in importance and has seemed to even become almost a necessity in succeeding at least in the business world. It was rare in my grandparent’s era to have a college education at least in the heartland of the United States where farming and homemaker were the career paths of most. Now, my generation is seeking graduate degrees and beyond to make it out in the real world. Will this trend continue in the future? Will formal education be the focus or will interpersonal skills dominate? Is education or experience the most important factor in leadership? I believe that experience was, education is presently, and we are leading to a combination of both in the future. Importance of Education in the Past Currently in the market for a new job, I can testify that education is a very important factor currently, but it seems that that was not always the case. My great-grandparents did not even complete high school and they did well as far as money and social status goes. In some of my past jobs, I have noticed that when a position opens up within the company, some form of continued...
Words: 274 - Pages: 2
... CHAPTER 6 1. The person who takes the risk of starting and managing a business to make a profit is called a(n): A. entrepreneur B. venture capitalist C. capitalistic adventurer D. franchiser ------------------------------------------------- E. ultra capitalist 2. Andy Yocom saw prime advertising space on the flags on the golf course. He reasoned that any marketing messages would get prominent attention if they were placed on the flags since golfers focus on them when they take their shots. As a result Yocom used his own initiative and money to start Invision Golf Group Inc. Yocom is an example of a(n): A. entrepreneur B. venture capitalist C. capitalistic adventurer D. franchiser ------------------------------------------------- E. ultra capitalist 3. Jon P. Farmer is the founder of Kolopua Hawaii LLC, a company that markets Pure Hawaiian Air. Bottles of Pure Hawaiian Air contain air that smells like the floral bouquet that greets tourists as they get off the plane in Hawaii. Retailing for about $5 apiece, the bottles are sold at gift shops in Hawaii, as well as to travel agents nationwide who give them to clients. As a(n) _____, Farmer's annual income exceeds $100,000 annually. A. venture capitalist B. franchisee C. franchisor D. entrepreneur ------------------------------------------------- E. financier 4. An entrepreneur is a person who _____ a business. A. finances B. manages C. locates D. owns and operates ------------------------------------------------- ...
Words: 4272 - Pages: 18
...Business intelligence software, the software of the future Abstract This report offers insight on business intelligence software and how it can be used to help a company run more effectively. Specifically the report analyzes 4 questions: how do organizations benefit from Business Intelligence solutions, how can dashboards help the average user, what role does Business Intelligence play in competitive advantage and organizational strategy, and how can “Big Data” and Business Intelligence work together? A comparison of Cognos and Tableau business software is made to help explain how different software works and guide you toward picking the correct software for you. Also included is a summary of case study performed on a company that implemented a BI solution. After reading this report, the audience should have a better understanding of how and why business intelligence software is implemented. Companies everywhere are always looking for solutions to make their business work more efficiently. In the last 10 years, a number of companies have been investing in software that will provide a better understanding of metrics to foretell their future performance. This same software can help companies make the most of their resources by turning stacks of data into stacks of opportunity. Knowing which software is most effective for specific business solutions can help you in choosing the best business intelligence software. The purpose of this report is to compare...
Words: 1458 - Pages: 6
...though women currently are changing the future of business entrepreneurs through history have made a difference during their lifetime. During the 19th century Andrew carnegie was the wealthiest businessman and a owner of a famous steel company. This man was either a nice person that gave away his money to the public or made people suffer by paying his workers less, or even having workers lose a leg to maintain their family. Andrew Carnegie came from an immigrant family that immigrated to the United States when he was a young boy. During his childhood he would worked a series of railroad jobs. However, by 1889 he owned his own steel corporation, that was known as the largest in the world. This exemplifies that even though Andrew Carnegie came from a difficult childhood he still was available to face the challenges of the world later on in life as a successful businessman but affected the way he treated people....
Words: 506 - Pages: 3
...though women currently are changing the future of business entrepreneurs through history have made a difference during their lifetime. During the 19th century Andrew carnegie was the wealthiest businessman and a owner of a famous steel company. This man was either a nice person that gave away his money to the public or made people suffer by paying his workers less, or even having workers lose a leg to maintain their family. Andrew Carnegie came from an immigrant family that immigrated to the United States when he was a young boy. During his childhood he would worked a series of railroad jobs. However, by 1889 he owned his own steel corporation, that was known as the largest in the world. This exemplifies that even though Andrew Carnegie came from a difficult childhood he still was available to face the challenges of the world later on in life as a successful businessman but affected the way he treated people....
Words: 506 - Pages: 3
...MA Assignment Were business schools to blame for the financial crisis? What should business schools do to help prevent similar crises in the future? The financial crisis in 2008 involved banks with the ability to generate a large sum of money in a short space of time, causing house prices to rise and the financial market to fluctuate. The debts created from loans awarded by the banks outweighed the income costs, which backfired upon the bank, causing a financial crisis (Positive Money (BSD), 2015). There were many reasons to blame for the pandemonium within the financial market during this period of time. This paper will examine whether business schools in particular, contributed to the financial crisis and will explore what business schools could do to prevent similar crises in the future. There have been negative spotlights upon graduates entering the banking world. Jonathan Slack, representative of 114 UK business schools stated that students with MBAs achieved higher positions within the corporate world, who are found to instigate high-risk taking (The Guardian, 2009). Graduates were seen to lack acknowledgement for factors such as value and ethics at this level of high risk taking and believe they can complete the work set without consideration of these factors (Podolny, 2009). Although much emphasis is upon graduates to produce profit and developing a business to success after graduating from a business school, corporate social responsibility (CSR) is just...
Words: 1249 - Pages: 5
...2013 ISSN 2250-3153 1 Future of Real Estate Business (Ready-made Flat) in Khulna City Feroz Ahmed *, Md. Reaz Uddin**, S. M. Rasel Ahammad*** ** * Professor, Business Administration Discipline, Khulna University, Khulna 9208, Bangladesh Assistant Professor, Business Administration Discipline, Khulna University, Khulna 9208, Bangladesh *** Territory Officer, Transcom Mobile Ltd. Bangladesh Abstract- Real estate is a fast growing industry in Bangladesh. Earlier this business was concentrated in Dhaka, the capital of Bangladesh. Later on, it spreads in various major cities of the country. The present study has paid efforts to explore the future of real estate business in Khulna, a major divisional city of Bangladesh. A structured questionnaire was used to collect data from Khulna city area. Respondents were selected carefully considering their potentiality to be a flat or house owner in this city. The study has identified income of potential buyers, land price, hassle of buying a flat, developers’ performance and their trustworthiness, and availably of land will determine the future of real estate business in Khulna region. Consumers’ income has been found statistically significant. prospective customers toward real estate business and developers whether they will accept the real estate service or will construct house by own along with the probable reason behind their perception. Khulna City is a prospective city for real estate business for its own charm and industrial...
Words: 2444 - Pages: 10
...Many news outlets are reporting that Ford is set to report good earnings in 2015. The trucking unit in Kentucky, which was seen as weak throughout the recession and after it, is seeing more investments and product introductions. Ford reported this quarter that its capital expenditure will be higher due to the investments needed to scale up production and meet the demands of dealerships prior to launch of new cars and trucks. The financial results that were reported showed a lower profit number as there were more cash related expenses due to greater production numbers needed for product launches; although profits are lower now the cash expenses should translate into greater earnings in the future. Inventory costs, material costs and increased promotions will cause an increase in the operating expenses. Another important effect of introducing products was mentioned by the CFO. As older models are less exciting there will need to be some cutback in production of those units. There will be more expenses in the way to discounts and incentives to cut back on inventory. The ramping up production also places operations pressures on the company, as some models will require more production and capacity requirements mean there will be cutbacks in some areas. The company also emphasizes that the auto industry will not be very predictable, although Ford is making good progress, the industry is not a linear trending one at all times. Often, long term investments when capital is more expensive...
Words: 394 - Pages: 2
... Why Corporate Foresight? B A closer look at Corporate Foresight C Implications for UNIDO D Q & A, Discussion UNIDO 5 December 2007 / Dr. Frank Ruff 2 Why Corporate Foresight? History of Future Studies/Foresight Foresight embedded in enterprises First Think Tanks in enterprises (e.g. Shell, Toyota, Daimler-Benz) Corporate Foresight: Innovation and Technology Analysis Establishment of new (e.g. Daimler-Benz, variants and diffusion Siemens, Philips) of concepts of future studies and analysis Consumer and marketing-oriented trend research Future Consulting (e.g. Z_Punkt) Emergence of systematic resp. scientific future studies Journalists/Entrepreneurs/Expert-Networks/Consulting Warning future studies „Doom-Saying“ (e.g. Club of Rome, Robert Jungk) Economic and political future studies (e.g. Faith Popcorn, (e.g. Alvin Toffler, Trendbüro, John Naisbitt, Dan Coates, PROGNOS) Matthias Horx) „Premodern future view“ Delphic oracle Spiritual and religious foresight Outsider (e.g. Nostredamus) State-run/scientific/supranational institutions Military futurologic research MIT) Technology assessment Economic, political, Science and Technology resource-oriented (e.g. RAND Corporation, Forecasting (e.g. Delphi future research (e.g. UN studies,offices for technology Millenium Project, assessment) OECD, political Think Tanks) Foresight (e.g. EU projects, Regional Foresight FUTUR Dialogue) Modern Age 1940-1960 1970 1990 2000...
Words: 1577 - Pages: 7
...benefits, features, and other aspects of office of the future? Some of the benefits, features, and other aspects of a virtual office that I want to take a look at are: the definition of a virtual office, technology and it’s role, people’s view of the future office, Microsoft’s view, an effective workspace, the flexibility of a virtual office, and what you might find/see in your office of the future. “A virtual office is a combination of off-site live communication and address services that allow users to reduce traditional office costs while maintaining business professionalism.[1] Frequently the term is confused with “office business centers” or “executive suites” which demand a conventional lease whereas a true virtual office does not require that expense” (http://en.wikipedia.org/wiki/Virtual_office). Virtual office is the new office of the future. Although a virtual office has been around for a while, it has not been used by everyone because when the concept was adopted, there was not much technology developed yet to support it. Now, with the increasing amount of technology for home use, now companies can move more jobs to this form of an office. The most common careers using virtual office is customer service representative’s jobs. A plan is put into place when designing what an office should look like in the future. When a company designs a model for a project; there is also a model designed for future offices. Corporate America has designers to create an...
Words: 4873 - Pages: 20
...treatment of risk and uncertainty. Traditional economic theory assumes a risk-free world of certainty; but the real world business is full of all sorts of risk and uncertainty. A manager cannot, therefore, afford to ignore risk and uncertainty. The element of risk is associated with future which is indefinite and uncertain. To cope with future risk and uncertainty, the manager needs to predict the future event. The likely future event has to be given form and content in terms of projected course of variables, i.e. forecasting. Thus, business forecasting is an essential ingredient of corporate planning. Such forecasting enables the manager to minimize the element of risk and uncertainty. Demand forecasting is a specific type of business forecasting. Concepts of Forecasting: The manager can conceptualize the future in definite terms. If he is concerned with future event- its order, intensity and duration, he can predict the future. If he is concerned with the course of future variables- like demand, price or profit, he can project the future. Thus prediction and projection-both have reference to future; in fact, one supplements the other. Suppose, it is predicted that there will be inflation (event). To establish the nature of this event, one needs to consider the projected course of general price index (variable). Exactly in the same way, the predicted event of business recession has to be established with reference to the projected course of variables like sales, inventory etc. Projection...
Words: 823 - Pages: 4
...forty different states and even in four Canadian Provinces (Weise, 2011). An extensive network of a business and its operations is strength in accordance to what their competitors present. They offer a wide variety of foods and drinks in regard of their competitors. Moreover, funny enough, the company offers free peanuts while clients wait for their orders. They have the president’s stamp of approval. The information they provide on the type of foods they produce is equally strength for the company. Five Guys’ Weaknesses All businesses have their strengths and weaknesses. In order to survive and be successful, business should try as much as hard to ensure that their strengths are more than their weaknesses. This increases the chances of succeeding. In the context of Five Guys, the company seems to concentrate more on the production of fries and burgers maximally in disrespect to other kinds of food services (Weise, 2011). For instance, fries are considered to be a health hazard given the amount of fats it increases to the body. Hence, the company should also increase the provision of other types of foods in line with the burgers and fries. Opportunities for Five Guys While engaging in business activities, one should be able to discover the opportunities in the macro and micro environment that need to be exploited. This in one way or another improves on the chances of the business prospering and prospering as no opportunity is left to chance. Five Guys have ready markets which...
Words: 1264 - Pages: 6
...paraphrased. Kyle and Chad If you have made the decision to start your own business, one of the first things that you need to do is to work on a business plan. A business plan is so important because it actually serves as a compass for the direction your business will take in the future. Having a plan will also help you achieve the things you want to achieve and will help your business to find success as well. With putting your business plan together the right way you will hopefully be able to see your vision a lot clearly. A great reasons why I think that doing a business plan is important is that it will help you to believe the details of your business and its' future growth. As you are working on your plan, you will probably find that there are many aspects of your new business that you have not considered. Getting started with a business plan will help you to save money and time since you will be able to deal with issues before they become a problem. Another great reason for having a business plan is that it can help you if you are trying to get outside funds for your business. Most lenders and investors want to see that you have a clear business plan before they take a risk on your business. Having a plan already drawn up shows them that you are serious about being successful at your business. If you are going to show your business plan to potential lenders...
Words: 856 - Pages: 4
...continuing my education important for my future?” The future refers to what will happen or come in time. In so many speeches, we hear people tell us how we control our own futures and how what we do affects what our future will be. Without knowledge and education, we cannot hope to control our futures. Firstly, being educated will help me gain understanding and appreciation because I will be able to step out of my comfort zone and understand different subjects and try new paths. For instance, I may decide to study law and not be interested in studying law again because I feel like I might not be able to take on the challenge, but I still have different choices in business, acting, singing etc. because then I would be open to explore new paths and still enjoy the different knowledge that I encounter. Secondly, I would have more control and better choices when making important decisions in my life because if I were not educated, I would be illiterate and be regarded upon as stupid and ignorant and I would not have a positive future. In addition, I would be able to make better choices that will help me be successful in whatever path I choose to take. Furthermore, when I get educated, I would have more control over my life. For instance, I would be regarded as an important and educated person in society. Finally, education will affect my future because I will be able to go to college so that I can have a meaningful and fruitful career in business. I will have different opportunities...
Words: 371 - Pages: 2
...budgetary expectations and reasons for possible variances will be presented. Benchmarking techniques that may improve budget accuracy in future forecasts will also be concentrated on within the body of information presented Managing a Budget within the Forecasts According to Finkler, Kovner, and Jones, (2007), organizations exercise control over operations through the use of a management control system. The determination of whether a business is able to appropriately budget for future expenses, economic downturns, and risks is critical in today’s economic crisis. The methods by which a budget is created are specific and take into consideration several factors that provide target, actual, and variance results. The strategies used to create a budget vary among industry, organization, department, and/or manager just to name a few. Budget variances, strategies, and benchmarking techniques are critical to the final budget formulated for a business. A budget is a way to assist managers to follow a set strategic plan to ensure resources are used to efficiently to achieve the goals and follow the mission of the organization. A budget provides estimates of revenue, expenditures and financial performance of an organization for a designated time period. A budget may have projections that are monthly, quarterly, semi-annually, or annually. Estimates of future financial conditions can be obtained through a number of benchmarking techniques. A budget can assist an organization to assess...
Words: 1281 - Pages: 6
