...capitalist structures. Here, I give a critical analysis on my study and provide some suggestions for further studies. Hegemonic Narratives The way we talk about certain things affects the way we think about that particular thing. In this case, capitalism is often framed with negative narratives. Reproducing this narrative makes it difficult to change capitalist structure. At the Impact Day conference in Amsterdam, many ecopreneurs showed their indignation about the concept of “social entrepreneurship.” According to them, using this term implies that...
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...entrepreneurial behavior: need for achievement, internal locus of control and risk taking predisposition. The need for achievement was linked by McClelland to a country’s economic success in one of the first studies trying to define entrepreneurial culture. McClelland’s thesis states that countries characterized by high levels of N achievements have higher levels of economic development but was contested by more than e few economists. In other word countries that have high scores on entrepreneurial culture should have high rates of entrepreneurship which will lead to economic success. The main flaw is related to the methods of measurement (by analysis of widespread folk tales and contemporary children schoolbooks) of the N achievement for a country and the stretching of the data; basically there are no empirical results to prove the McClelland’s thesis. Furthermore, economists like Wennekers and Thurik take issue with the individual level of entrepreneurship and the aggregate level characterizing a nation. Findings related to specific traits and motivations of individuals who undertake actions as entrepreneurs cannot...
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...Innovation, Ethics, and Entrepreneurship Morgan P. Miles Linda S. Munilla Jeffrey G. Covin ABSTRACT. This paper is a response to Ray’s (2004) recent proposal that the intellectual property rights (IPR) attached to potentially life saving/life sustaining innovations should become public goods in cases where markets are either unable or unwilling to pay for the creation of the intellectual property. Using a free market approach to innovation based on Western moral philosophy, we suggest that treating intellectually protected life saving/life sustaining innovations as public goods will likely reduce social welfare over the long term. KEY WORDS: entrepreneurship, ethics, innovation, intellectual property rights, policy ‘‘For the Scripture says, ‘Do not muzzle the ox while it is treading out the grain,’ and ‘The worker deserves his wages’ ’’ 1 Timothy 5:18. Ray (2004), in a recent critique of Miles et al. (2002), proposes that the intellectual property rights (IPR) generated from any life saving/life sustaining entrepreneurial initiatives should be transferred to the public domain whenever potential users of these innovations are unable or unwilling to enter into mutually beneficial exchange relationships with the creators of the IPR. This reply offers a perspective on why Ray’s (2004) imperative does not maximize social welfare and, in fact, will tend to diminish social welfare over the long-term as a result of lower economic incentives for innovation. Introduction ‘‘Few...
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...The world system today - Modern stratification: Growth of middle class, social mobility leading to a more complex social stratification. Capitalism: The components * Private ownership of means of production * Market competition * Wage labor * Pursuit of profit There are a variety ways to run a capitalist economy; Even in ‘hyper-capitalist’ USA- we have government regulation…. The debate: Capitalism Like: innovation; entrepreneurship; efficiency; growth; hard work--reward; independence/personal freedom Dislike: inequality; concentration of money and power; narrow definitions of success; economic value privileged over social value; power of corporations. Socialism: the components * Public ownership of means of production * Government runs the means of production * Central planning * Needs of people decided by a central committee * Distribution of good without profit motive * Goods produced and distributed for general welfare (Global) Neoliberal Capitalism Capitalism: private ownership of means of production; market compe…. Neo-liberalism Goals: * Macro-economic stability * Increased FDI * Integration into global economy * Modern development * Debt servicing Privatization:私有化 Market liberalization:市场自由化 Fiscal austerity:财政紧缩 Hegemony: * A word used to describe how the status quo can be preserved through consent as well as coercion. * One way to gain consent for the status...
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...the research thus conducted. In order to answer and address this issue, it is first necessary to examine different aspects of entrepreneurship, as well as, current market conditions, which make this alternative an attractive choice for so many business professionals. I have often thought about the vest means of achieving success. Success can be measured in many different fashions. There is career success, success in academics, competition, and self-actualization. For the scope of this research paper, I will limit the definition of success as being measured by financial freedom and independence. As both a student and working professional, I have a strong belief and desire to perform to my highest potential, both in the classroom and in the office. Ultimately, like many others, the purpose of my efforts is to achieve this financial freedom and independence from an employer. The traditional means of achieving success, I have followed and been an active participant. These means include joining the military at a young age, graduating from college, and pursuing a professional career. Although I am pleased by the results of my efforts and endeavors, my journey is not complete. I am in pursuit of a Master’s Degree at Stratford University to enhance my knowledge, and expand my potential. Education is both important and essential to one’s own personal development. Not ever to be dismissed as an exercise in futility, academic pursuits can add to a student’s experience, develop...
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...Capitalism: Capitalism is an economic system based on the private ownership of capital goods and the means of production, with the creation of goods and services for profit. Characteristics of Capitalism: • Ownership belongs to “YOU” • Freedom of own economic growth • Suitable environment for business • Profit in your “Pocket” • Reward based system • Creative and innovative environment Advantages and Disadvantages of Capitalism: Advantages of Capitalism: 1. Cost of production is reduced due to efficient control. 2. Production process is efficiently controlled. 3. Improved quality of goods. 4. Different varieties of product. 5. Consumer’s choice given full priority. Disadvantages of Capitalism: 1. Inequality in the distribution of national wealth. 2. Talent wastes 3. Level of employment fluctuations 4. Class conflicts 5. Heavy expenses on publicity result into increase in cost and price of the commodity. Communism: Communism refers to a political system that stresses the primacy of collective goals over individual goals. Characteristics of Communism: • Needs of the society are viewed as a whole than individual freedom. • State-owned enterprises are managed to benefit society as a whole, rather than individual capitalists. For Example Cuba, Vietnam, China (market based economic reforms). • In communism personal belongings, like shoe, watches and clothes are allowed to be owned by individuals and houses are owned by the states. Advantages and Disadvantages...
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...Branches of Economics Branches of Economics Economics has two branches: microeconomics and macroeconomics. Microeconomics is the branch of economics that deals with the personal decisions of consumers and entrepreneurs. Its primary concern is to help consumers and investors make their lives better by increasing their earnings and satisfying their needs despite limited resources. Also included in its study are the consumers' decisions on what products to buy and how the cost of commodities is determined. Macroeconomics deals with the larger aspects of a nation's economy, such as the sectors of agriculture, industry, and service. It aims to (a) speed up the economy's growth rate and increase total production; (b) increase the rate of employment; (c) keep the prices of commodities stable so that they remain affordable; and (d) have sufficient reserves for foreign exchange for importing goods and paying off loans. Economists help in solving problems like unfair wages, rapid population growth, people migration to city centers, high crime incidence, and loss of human resources due to overseas migration. http://hotbabefatchicks.hubpages.com/hub/Branches-of-Economics The first process is MICROECONOMICS:- this is considering the small scale working of economic laws. Here we see a man faced with choice of ways to spend his limited money, or an individual business deciding its pricing policy. It is a branch of economics that studies how the individual parts of the economy, the household...
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...American International Journal of Contemporary Research Vol. 2 No. 1; January 2012 ENTREPRENEURSHIP TRAINING AND EDUCATION AS STRATEGIC TOOLS FOR POVERTY ALLEVIATION IN NIGERIA Dr. O. J. K. Ogundele Department of Business Administration & Management Technology Lagos State University, Ojo; Lagos Nigeria. Waidi Adeniyi Akingbade Department of Business Administration & Management Technology Lagos State University Ojo; Lagos, Nigeria. Hammed Babatunde Akinlabi Associate Lecturer Lagos State University External System Ojo, Lagos, Nigeria. Abstract The main objective of the study is to investigate the intensity of entrepreneurship training and education as strategic tools for poverty alleviation in Nigeria. Using a stratified random sampling technique, 250 entrepreneurs and apprenticeships from five recognized local government areas in Lagos state, South Western Nigeria were selected as our respondents. Data were gathered through a self-monitored questionnaire survey. Simple regression analysis was used to test the relationship between the entrepreneurship training and education and poverty alleviation. Two hypotheses were postulated to determine the relationship between technical skill and youth empowerment and between personal entrepreneurial skill and social welfare services. This study confirmed that entrepreneurship training and education are significantly related to the youth empowerment and social welfare services. Findings revealed that youth empowerment are influenced by...
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...Context of Business Economic Environment Factors of production: Resources used to produce goods and services 1) Land (natural resources) 2) Labor (workers) 3) Capital (buildings, equipment) 4) Entrepreneurship 5) Knowledge/Information World Economic Systems 1) Communism: All factors owned by all people * Big government * No competition * Karl Marx 2) Socialism: Some factors owned by all people * More equal allocation of resources * Government/central planning for basic goods/services * Most basic industries owned by the government 3) Capitalism: Factors are privately held and used to make profit * Promotes competition and freedom. * Driven by self-interest, rewards innovation * Adam Smith: father of free trade and capitalism Market Economy A) Supply and Demand B) Levels of Competition * Pure: Indistinguishable products, infinite sellers, i.e. Retail gas * Monopolistic: Similar products, many sellers, i.e. Candy, Athletic Shoes, Apparel * Oligopolies: Market is dominated by a few sellers, i.e. Soft drinks, Airplanes * Monopolies: One firm owns majority of market, i.e. Electricity, Gas, Water Economic Indicators (indicate health and trend of an economy) 1) GDP: Measures the sum of all goods and services produced in a country in a year 2) Unemployment rate: Measures percentage of population 16 and over looking for work but cannot find it. Three types of unemployment * Frictional:...
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...Social Entrepreneurship and the work that a social entrepreneur does. The Report is a guide to learn Social Entrepreneurship through Handson experience. The Report covers my experience in starting a Social Enterprise, difficulties I encountered during the time and how to make a Social Enterprise a Viable option. This report covers everything from rise of this term Social Entrepreneur, to work done by Social Entrepreneurs, to the Entrepreneurial theories and approaches they follow or must follow. This report also describes several Social Ventures and the people behind those ventures who have brought about a positive social change. Social Entrepreneurship is a relatively new phenomenon and the excitement it has created throughout the world because of the impact it has had is tremendous. This report thus describes what learning social entrepreneurship through hands-on experience is. The Report also lists the various people I contacted for Sponsorship and the manner in which they supported the project. 5 TABLE OF CONTENTS ACKNOWLEDGEMENTS 03 ABSTRACT 04 1. SKILL DEVELOPMENT AND SOCIAL ENTREPRENEURSHIP 06 1.1 INTRODUCTION 1.2 OBJECTIVES 1.3 METHODOLOGY 1.4 DATA COLLECTION 1.5 CHAPTER SCHEME 2. LITERATURE REVIEW 11 3. HISTORY 17 4. MODERN SOCIAL ENTREPRENEURSHIP 22 5. SOME OUTSTANDING EXAMPLES 27 6. THEORIES OF ENTREPRENEURSHIP 33 7. CONCLUSION 38 8. BIBILIOGRAPHY 39 6 CHAPTER-1 SOCIAL ENTREPRENEURSHIP 1.1 INTRODUCTION: Social entrepreneurship is the...
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...Journal of Business Ethics (2007) 74:303–314 DOI 10.1007/s10551-007-9517-y Ó Springer 2007 Stakeholder Capitalism R. Edward Freeman Kirsten Martin Bidhan Parmar ABSTRACT. In this article, we will outline the principles of stakeholder capitalism and describe how this view rejects problematic assumptions in the current narratives of capitalism. Traditional narratives of capitalism rely upon the assumptions of competition, limited resources, and a winner-take-all mentality as fundamental to business and economic activity. These approaches leave little room for ethical analysis, have a simplistic view of human beings, and focus on value-capture rather than valuecreation. We argue these assumptions about capitalism are inadequate and leave four problems in their wake. We wish to reframe the narrative of capitalism around the reinforcing concepts of stakeholders coupled with value creation and trade. If we think about how a society can sustain a system of voluntary value creation and trade, then capitalism can once more become a useful concept. KEY WORDS: capitalism, stakeholder, ethics, economics, free market Introduction1 We live in the age of markets. While markets have been around for thousands of years, we are just beginning to understand their power for organizing society and creating value. In the last 200 years markets have unleashed a tremendous amount of innovation and progress in the West. The industrial revolution, the rise of consumerism, and the dawn...
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...Entrepreneurship Entrepreneurship is the act and art of being an entrepreneur or "one who undertakes innovations, finance and business acumen in an effort to transform innovations into economic goods". This may result in new organizations or may be part of revitalizing mature organizations in response to a perceived opportunity. The most obvious form of entrepreneurship is that of starting new businesses (referred as Startup Company); however, in recent years, the term has been extended to include social and political forms of entrepreneurial activity. When entrepreneurship is describing activities within a firm or large organization it is referred to as intra-preneurship and may include corporate venturing, when large entities spin-off organizations.[1] According to Paul Reynolds, entrepreneurship scholar and creator of the Global Entrepreneurship Monitor, "by the time they reach their retirement years, half of all working men in the United States probably have a period of self-employment of one or more years; one in four may have engaged in self-employment for six or more years. Participating in a new business creation is a common activity among U.S. workers over the course of their careers." [2] And in recent years has been documented by scholars such as David Audretsch to be a major driver of economic growth in both the United States and Western Europe. "As well, entrepreneurship may be defined as the pursuit of opportunity without regard to resources currently controlled...
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...Briefing Paper “The Impact Investing: a tool to mobilize Italian capitals in order to pursue a positive social impact” #2430 Social Entrepreneurship Individual Assignment Table of Contents Introduction ................................................................................. 3 1. The Problem ........................................................................... 3 1.1. Who Would Benefit And How? ............................................................. 4 1.2. The Threats .......................................................................................... 4 1.3. The Solution ......................................................................................... 5 1.4. Social Responsibility to Offset Lower Financial Returns......................... 5 2. The Topic: the Impact Investing ............................................... 6 3. Benchmarking ......................................................................... 6 4. Conclusions ............................................................................ 7 Sources ......................................................................................... 8 2 Social Entrepreneurship Individual Assignment Introduction The social offer is largely garrisoned by the State and, it involves sanitary sector, education, and services to the person and in general the...
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...ECONOMIC GEOGRAPHY Y U K O A O YA M A J A M E S T. M U R P H Y SUSAN HANSON KEY CONCEPTS IN key concepts in economic geography The Key Concepts in Human Geography series is intended to provide a set of companion texts for the core fields of the discipline. To date, students and academics have been relatively poorly served with regards to detailed discussions of the key concepts that geographers use to think about and understand the world. Dictionary entries are usually terse and restricted in their depth of explanation. Student textbooks tend to provide broad overviews of particular topics or the philosophy of Human Geography, but rarely provide a detailed overview of particular concepts, their premises, development over time and empirical use. Research monographs most often focus on particular issues and a limited number of concepts at a very advanced level, so do not offer an expansive and accessible overview of the variety of concepts in use within a subdiscipline. The Key Concepts in Human Geography series seeks to fill this gap, providing detailed description and discussion of the concepts that are at the heart of theoretical and empirical research in contemporary Human Geography. Each book consists of an introductory chapter that outlines the major conceptual developments over time along with approximately twenty-five entries on the core concepts that constitute the theoretical toolkit of geographers working within a specific subdiscipline. Each entry provides...
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...definition of entrepreneurship and the entrepreneurial process that spans lifestyle to high potential ventures. 2. Examined the practical issues you will address and explore throughout the book. 3. Learned how entrepreneurs and their financial backers get the odds for success in their favor, defYing the pattern of disappointment and failure experienced by many. 4. Examined the Timmons Model of the entrepreneurial process, how it can be applied to your entrepreneurial career aspirations and ideas for businesses, and how recent research confirms its validity. Demystifying Entrepreneurship Entrepreneurship is a way of thinking, reasoning, and acting that is opportunity obsessed, holistic in approach, and leadership balanced. 1 Entrepreneurship results in the creation, enhancement, realization, and renewal of value, not just for owners, but for all participants and stakeholders. At the heart of the process is the creation and/or recognition of opportunities, 2 followed by the will and initiative to seize these opportunities. It requires a willingness to take risksboth personal and financial-out in a very calculated fashion in order to constantly shift the odds of success, balancing the risk with the potential reward. Typically, entrepreneurs devise ingenious strategies to marshall their limited resources. 1 Today, entrepreneurship has evolved beyond the classic startup notion to include companies and organizations of all types, in all stages. Thus, entrepreneurship can occur-and...
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