...manufacture, trading and profit generation. However, it also appears that the term entrepreneurship is not easy to understand although this subject seems similar to the term of entrepreneur. Based on this background, this essay will first fully analyze the principal subject of entrepreneurship reflecting various economists’ perspectives, and secondly illustrate the relationship between entrepreneurship and innovation, before suggesting that in general, entrepreneurship is closely linked with innovation and they are both significant elements in the development of economy. Furthermore, this essay will also illustrate that creativity and problem solving are effective capabilities in entrepreneurial processes of business planning and decision making in the realization of innovation. To understand the relationship between entrepreneurship, innovation and economic development, it is crucial and necessary to analyze the keywords in this statement. First of all, what is entrepreneurship? In fact, despite the potential that every individual may take a mutual view directly on the term of entrepreneurship, there is no fixed definition of this term. As is noted by Baumol (1968: 64), the concept of entrepreneurship is in fact obscure and it is not often the case that, this term can be defined explicitly in the theoretical scope. Traced back to the early history in economic context, the subject of entrepreneurship was first put forward by the economist, Richard Cantillon, in his essay named Essai...
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...University of Nottingham Ningbo China (Business School) Finance, Accounting and Management Academic Year 2012/11 Module Title: Entrepreneurship and Business p11440 Module convenor: Maris Farquharson Essay title: Discuss the relationship between entrepreneurship, innovation and economic development. What role do creativity and problem solving play in this relationship? Refer to both theory and examples from the business world to support your discussion. Word Count: 1959 Submitted: 27/11/2012 Student: Pan Yanhao Student ID: 6508745 Recent years the popularity of entrepreneurship education is growing worldwide (Gormon & Hanlon & King, 1997). In the United Kingdom more students are being taught in classes to accumulate entrepreneurial skills in their own field to make considerable achievement (Department for Culture, Media and Sport (DCMS), 2006). In addition, the government in some countries also give emphasises on the entrepreneurship and build specific plans about the improvement of entrepreneurial skills (Lumsdaine and Binks, 2007). The reason why entrepreneurship becomes more prevalent is that entrepreneurship and its vital part which is innovation are regarded as crucial components in the process of economic development (Baumol, 1968). This essay will demonstrate the relationship between entrepreneurship, innovation and economic development and illustrate the role of creativity and problem solving in this complex relationship. Section one will describe...
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...Entrepreneurship is usually thought to be of the simple action of starting your own business and running it. However, the true meaning of being an entrepreneur is much deeper than that. The must justifiable definition of entrepreneurship is a process through which individuals identify opportunities, allocate resources, and create value. This creation of value is often through the identification of unmet needs or through the identification of opportunities for change. Entrepreneurs see “problems” as “opportunities” then take action to identify the solutions to those problems and the customers who will pay to have those problems solved. One can judge entrepreneurial success of an entrepreneur as his ability to see opportunities in the marketplace, initiate change or take advantage of change and create value through solutions. “Innovation” as a word is often as a word under the context of simply a “new” product; however the true meaning of the word innovation is way more complex than just coming up with a new product. A business or an entrepreneur is not REALLY innovative if a random idea is turned into a reality. Innovation truly occurs when “change” is what the new product brings. In essence, there was a certain way people used to do things and with this “innovative” product, there is a new, different, probably easier way in which they do same things. Product offering, service, business model or operations: These areas widen the scope of innovation beyond the popular culture sense...
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...Mills Swimwear 1. Malia Mills product was top quality, made locally, and sized to fit every shaped woman- not just the small, medium, and large. She keeps her product fresh with European fabrics of all colors and patterns. 2. Malia Mills not only offers an amazing product for her customers, but she offers an experience when shopping for one of her swimsuits. She has a comfy lounge, fitting areas with privacy so that you can try stuff on without the rest of the world seeing you, and complimentary bottled water so that the customer feels relaxed. 3. I would look at where the majority of the customers have heard about the company. Maybe just by asking when they check out “How did you hear about us?” If the advertising got enough business to offset the advertising cost then I would say that it is cost effective . 4. Malia Mills is trying to create the most comfortable atmosphere possible. She wants her customers to have a pleasant experience with no feelings of discomfort. 5. She could try trade shows, events that involve swimwear or swimming type events, maybe boat shows. Maybe combining with another popular brand of some type of clothing that would compliment her bathing suits, to draw in another following of established clients. 6. The Polaroid project was successful because ordinary women saw other ordinary women in the bathing suits rather than some super model who probably looks good in anything. This caught peoples eye and sparked their curiosity as...
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...Entrepreneurship and Small Business By: Miguel Serodio 12/11/2011 Index Introduction......................................................................................................................page 3 Core...................................................................................................................................page 4 References........................................................................................................................page 8 Bibliography.....................................................................................................................page 9 Introduction In 1985 an the Companies Act was brought up to define better the size of small business in order to make it more clear than before, the Bolton Committee. The new act defined the business by setting maximum criterions of annual turnover, annual balance sheet total and the number of employees. This act helped to define in a practical way than before, for the reason that the Bolton Committee used to have a large number of definitions such as under 200 employees for manufacturing firms to £50 000 turnover for retailing, and up to five vehicles or less for road transport. With so many different criterions it was unpractical to define what, so the Companies Act defined that there was two groups of small and medium firms. Small business would have a maximum annual turnover of £2.8 million with an annual balance sheet total of £1.4...
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...ASIA E UNIVERSITY EXECUTIVE BACHELORS IN MANAGEMENT (HRM) ASSIGNMENT INDUSTRIAL RELATIONS Q2. What is the role of the Ministry of Human Resources in the industrial relations system? Who are the parties involved in the industrial relations system? The scope of Ministry of Human Resources in the industrial relations system encompass employee and workers state of safety, health and welfare and human resource matters such as training, employment, labour rights and industrial relations. It includes the PERKESO (Pertubuhan Keselamatan Sosial), PSMB (Pembangunan Sumber Manusia Berhad), JTM (Jabatan Tenaga Malaysia), JKKP (Jabatan Keselamatan dan Kesihatan Pekerja). The role of the Human Resources Ministry is to encourage harmonious relationships between employers and employees in the interest of the nation’s productivity. The objective of Human Resource Ministry in the industrial relations is: • To protect the welfare of the employees-safety, and rights • To promote good employer-employee relationship through a stable and peaceful Industrial Relations system • To equip the unemployed with basic industrial skills and to improve the skill level of the workforce • To assist in maximizing country’s manpower resources through manpower planning • Department of Labour, Peninsular Malaysia, Sabah and Sarawak-enforces Employment Act 1955, Workmen’s Compensation Act 1952, Wages Council Act 1947, Young Persons Act 1966, Employment Restriction Act 1968...
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...“Entrepreneurship and Starting a Small Business” Brian Thompson Everest College Phoenix Online MAN 1030 Introduction to Business Professor Mary Ritter 12/08/2012 Abstract In this paper I will be discussing what contributes it takes to become a successful business owner. I will be going over the characteristics of being a small business owner. I will also be discussing how to go about creating a business plan. In discussing the business plan, I will be giving the purpose of each component. “Entrepreneurship and Starting a Small Business” Eric has already created two successful businesses and is looking to start another. He already has the characteristics of a successful entrepreneur. He is self-directed, committed and willing to work hard. He already has experience in owning a small business and knows what it takes to make a small business successful. Eric seems to have beaten the odds already. What do you think Eric would tell you about success (or failure) and how to learn to be a successful small business owner? There are several characteristics to become an entrepreneur and start a small business and the one is being self-directed. You have to be comfortable being your own boss because you alone will be responsible for its success. Second, you have to believe in yourself when nobody else does, which is being self-nurturing. You also have to be committed and highly energetic by being able to emotionally, mentally and physically work hard, but mostly long...
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...7 8 9 40 1 2 3 4 5 6 711 8 J. International Business and Entrepreneurship Development, Vol. 3, No. 1/2, 2006 Sustaining competitive advantage in the global petrochemical industry: a Saudi Arabian perspective Salem M. Al-Ghamdi Department of Management and Marketing, King Fahd University of Petroleum and Minerals, P.O. Box 667, Dhahran 31261, Saudi Arabia E-mail: sghamdi@kfupm.edu.sa M. Sadiq Sohail* Department of Management and Marketing, King Fahd University of Petroleum and Minerals, PO Box 210, Dhahran 31261, Saudi Arabia E-mail: ssohail@kfupm.edu.sa E-mail: sadiqsohail@hotmail.com *Corresponding author Abstract: This paper analyses the competitive advantages of Saudi Arabia in the global petrochemical industry. Porter’s model is used for this purpose. Saudi Arabia, a leading producer of oil, is also the largest worldwide producer of a number of petrochemical products. Competitiveness in the global market demands an examination of comparative advantages and is the reason why Saudi Arabia is yet to succeed in the global market. This paper is an attempt to analyse the industry and to provide strategic alternatives. Keywords: petrochemical; Porter; Saudi Arabia; strategy. Reference to this paper should be made as follows: Al-Ghamdi, S.M. and Sadiq Sohail, M. (2006) ‘Sustaining competitive advantage in the global petrochemical industry: a Saudi Arabian perspective’, Journal for International Business and Entrepreneurship Development, Vol. 3, No. 1/2, pp.4–17. Biographical...
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...ENTREPRENEURSHIP AND SMALL BUSINESS A CASE OF A DEVELOPING COUNTRY Abstract This study revolve around the socio-economic structure of entrepreneurship, factors affecting the growth and development of enterprises and problems faced by them. For the purpose of data collection a sample of fifty small scale units was taken and a common schedule of structure questionnaire containing questions of various aspect of entrepreneurship was administered personally to the owner/managing director of each of the units as the case may be. This study is partially exploratory but basically descriptive in nature. From the interpretation and analysis of data collected the result shows that age is not a static phenomenon for entrepreneurship. Those who have less education but have more practical experience and training, enter into the industry early. However, in such cases less education restricts the growth and development of the enterprise. The paper also finds reasons for enterpreneurship, the three was to earn high profits and prosperity. The variables which decide the area of activity or the product line are based on assured market, parental business, experience and revival of the sick unit etc. There are certain irritants that also serve as impediments for the growth of enterprises. For instance competition from small scale units, (28%) financial constraints, high intent ratio and others. Introductionn The prosperity and progress of a nation depends on the quality of its people....
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...TERMPAPER ON ENTREPRENEURSHIP & SMALL BUSINESS MANAGEMENT BINIMOY.COM SUBMITTED BY EYAL ROY ROLL: 12133013 BATCH: HRM 2nd Batch COURSE NAME: Entrepreneurship & Small Business Management Course Code: 202 J.K.K.N.I.U DATE OF SUBMISSION: Executive Summary Binimoy.com creates specialized customer communication products, its strength being specialized generic cards. These cards are for business-to-business communication, as well as business-to-client communication. The core product is a card a business might send to its customers to, for example, thanks them for their patronage, or to remind a patient of a checkup. The focus of this business plan is to put forth objectives to solve the present cash-flow squeeze, and to increase profits from the present break-even level to net profits of tk.54,650 by the end of the first year. We intend to accomplish this by focusing on modifying our website, repackaging our more popular products for the large retail chains, and to concentrate on our designated target markets. TABLE OF CONTENTS Serial Number | Subject | Page No | | | | | | | | | | | | | | | | | | | | | | | | | | | | INTRODUCTION This Internet business plan gives details of the proposed venture, along with expected needs and results taking into account the unique nature of electronic commerce...
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...To start with I would like to emphasise that Aron seems to be in the good position with gaining the trust of the family. However, he understands well that nowadays the business structure and way of doing business are changing very fast and dramatically. As a result, Harilela family have to correspond to this trends to continue its success in the modern world. Personally I would not say that I agree with all the changes Aron would like to implement, but it seems that he is on the right track of it in general. As far as I am concerned, the main problem appear when relatively young person, like Aron, comes to the board in a role of a chairman and starts performing “reforms” which are not in the parallel with others- more older and mature members. This could ruin Harilela family harmony, which was created and well treated during a number of years. From the other hand, in case Aron just join a board as a chairman and starts follow its old way of doing business, it could have a negative affect on the last one as will not be efficient in the nowadays environment. Obviously there is not sense to follow that path as it does not bring a success to anybody. The challenge is to become a leader for the old Harilela generation and create a synergy by proving that Aron can bring success to the entire family and the business. In my view, he already proved that he can add value to the group by successful accusation of some real estate in the past. This was done with no control from Hari and...
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...Manag Gov DOI 10.1007/s10997-010-9154-1 Internationalization, innovation and entrepreneurship: business models for new technology-based firms Alberto Onetti • Antonella Zucchella • Marian V. Jones • Patricia P. McDougall-Covin Ó Springer Science+Business Media, LLC. 2010 Abstract New technology-based firms, particularly those that develop their business around a new technological platform, are likely to be impacted by globalization, in terms of both pace of innovation and pressure of competition. For these firms, strategic decisions and growth processes are characterized by a deep interrelationship amongst the processes of internationalization, innovation and entrepreneurship; processes which have tended to be examined independently in distinct bodies of literature. In practice strategic decisions concern each of these processes and address issues such as organizational boundaries, location of the operational activities, what activities to focus on and selection of value partners. The business model by which firms operate needs also to accommodate the spatial dimensions indicated by globalization; and the emergence of global technology markets. Little is known to date about the extent to which business models accommodate or are adapted to internationalization, innovation and entrepreneurship. This paper presents a review of the business model literature from which a generic business model framework is derived, identifying and introducing the main elements of these ...
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...Effective Term: 201310 NOVA SOUTHEASTERN UNIVERSITY H. Wayne Huizenga School of Business and Entrepreneurship Masters Programs FIN 5535 - Futures and Options (Weekend) I. INSTRUCTOR * Francisco J De Cossio (fdecossi@nova.edu) | II. COURSE DESCRIPTION Futures and Options: This course examines the structure and functions of the futures and options markets. The course covers the structure of options and futures markets with an emphasis on American markets such as the CME and CBOE. Additional topics include arbitrage restrictions, option pricing, hedging with futures, options on futures, exotics, trading strategies, and an introduction to corporate securities as options on the underlying cash flows. Prerequisites: FIN 5620 and FIN 5530. | III. PREREQUISITES ( GMP 5620 OR FIN 5620 ) AND ( FIN 5530 OR GMP 5530 ) | IV. LEARNING OUTCOMES A. ENTRANCE COMPETENCIES: Students must have prerequisite course work in the areas of basic accounting, basic economics, basic mathematics and statistics, managerial accounting, managerial economics, managerial finance, and quantitative methods. Additional coursework in financial markets and investments is required. All students entering this course should be computer literate, familiar with Microsoft Office 97 Professional Edition or 2000 Professional Edition Software, have unrestricted access to a personal computer, and have the ability to communicate effectively in writing. B. EXIT COMPETENCIES: By the end of...
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...NOVA SOUTHEASTERN UNIVERSITY H. Wayne Huizenga School of Business and Entrepreneurship Research Paper Proposal Course Name: Total Compensation Course Number: HRM 5375 Student Name: Christina Burton Please answer the following questions: 1. What is the research topic you are interested in writing about? I am interested in writing about the relationship between compensation and employee engagement. 2. Why are you interested in this particular topic? Is there a connection to your field of work or are you looking to broaden your knowledge base on the subject? I am interested in this topic because I would like to broaden my knowledge base on the subject. I have always been interested in employee engagement, but since I have enrolled in this course I would like to know compensation’s role in the matter. 3. Have you done a preliminary literature search on the topic? If so, how many recent journal articles (5 years or less) did you find? Would you be able to source at least 10 to 15 journal articles? Would you be able to write a 10 to 15 page, double-spaced paper on this topic? I have done a preliminary literature search on the topic and I have found 11 recent journal articles that I would be able to source. I would be able to write a 10-15 page, double-spaced paper on this topic. 4. What title would you give your paper? I would title my paper “Unlocking Employee Potential: The Link between Compensation...
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...Nova Southeastern University H. Wayne Huizenga School of Business & Entrepreneurship Assignment for Course: | ISM 5014 | Submitted to: | Dr. Cynthia Ruppel | Submitted by: | Rui Xie | | | | | Date of Submission: 02/25/2014 Title of Assignment: Case Study 2 Reflection CERTIFICATION OF AUTHORSHIP: I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledged and disclosed in the paper. I have also cited any sources from which I used data, ideas or words, either quoted directly or paraphrased. I also certify that this paper was prepared by me specifically for this course. Student's Signature: _______________Rui Xie_______________ ***************************************************************** Instructor's Grade on Assignment: Instructor's Comments: Reflection Paper I am in the Group 4, they all very kind and gave me a great many of help. This is the second time we get together to do the case. And I found that it is easier than the last time. We just meet after class and allocated the work as last time, it is easier for each person to do the same part what they did before and know how to improve it. We know each other by the first teamwork and this time we don’t need waste time on build a communication line, know each other, or rebuild the trust. It makes the teamwork more effective. What I learn from this group work is that a team needs some...
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