...relationship between entrepreneurship, innovation and economic development is a multidirectional cycle, which means that they affect each other in two directions. From one direction, when there is a problem entrepreneurs would use innovation which comes from creativity to solve it by entrepreneurship. Innovation deliveries new industries or get exist industries developed and both of those actions will lead economic to develop. The births of new industries encourage people with entrepreneurship to organize new economics. From the other direction, the development of economic absorbs new investments. Those investments include not only labour, land and capital, but also innovation which can improve the new good or service. The development in new industry can also offer money or other capital to encourage people with creativity to innovate. Innovation can be protected by entrepreneurship because it relies on innovation. As Thomson Edison* said, his inventions were from seeing a worthwhile need to be met and trailed after it until it came. So it can be seen as innovations are from solving problem and creativity. As an entrepreneur, spotting a problem and turn it into opportunity by creativity is called entrepreneurship. Entrepreneurship sets innovation to processing first and then gets profits from economic development. As Bolton and Thompson (2000) has recognized, entrepreneurship is about change and innovation. So every entrepreneurs needs to understand how to apply or utilize innovation...
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...Women Entrepreneurs in SMEs: Bangladesh Perspective Sponsored by: SME Foundation Conducted by: MIDAS November 2009 Table of Contents Acronyms List of Tables and Figures Executive Summary Chapter 1.0 1.1 1.2 1.3 1.4 1.5 1.6 Chapter 2.0 2.1 2.1.1 2.1.2 2.1.3 2.1.4 2.1.5 2.1.6 2.2 2.3 2.4 2.5 2.5.1 2.5.2 2.6 3.0 4.0 4..1 4..2 5.0 5.1 5.2 5.3 5.4 6.0 6.1 6.2 6.3 6.4 6.4.1 6.5 6.6 6.7 6.7.1 6.7.2 7.0 7.1 Introduction Statement of the problem Significance of the study Objective of the study Theoretical perspective of the study Scope of the study Limitations of the study Study Methodology Primary Research Location of the survey Sample Size Support Service Providers Methods of Data Collection Techniques of Data Collection Techniques of Data Analysis Secondary Research Focus Group Discussion (FGD) Key Informant Meeting (KIM) and Preparation of Case Studies Planning Workshops (PW) Planning Workshop Dialogues in the 6 Divisional HQs Discussions at Planning Workshops National Dissemination Seminar (NDS) Literature Review Entrepreneurship Concept of Entrepreneurship: A theoretical discussion Entrepreneurship in Bangladesh Women Entrepreneurship in Bangladesh History of Women Entrepreneurship Development in Bangladesh Women Entrepreneurs of Bangladesh Women Entrepreneurship in Urban Areas Women Entrepreneurship in Rural Areas Small & Medium Enterprises (SMEs) Definition of SME Theories of SME SMEs in Bangladesh Promotion of SMEs for Sustainable Development Access to Finance...
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...INTRODUCTION Mentoring is defined in an organizational context as a professional development tool, which takes the form of transfer of knowledge from an experienced person – termed as mentor – to a comparatively less senior person in the organization. Through mentoring professional knowledge and experience is transferred to a less experienced person (Hirschfeld, Thomas and Lankau, 2006). The goal of mentoring is to assist the mentee in personal and professional development. Learning and development in organizational contexts is closely associated with the concept of mentoring. Mentoring brings the values and practices focusing on continuing education and links integrated transmission of knowledge through a special link between two persons. Mentoring is an interpersonal relationship providing support, exchange and learning, in which an experienced person invests its ability and expertise to promote the development of another person to enable him to acquire skills and achieve career goals (Holmes, 2008). The mentor is an experienced person who has the confidence and wisdom to promote the transfer of its assets to others less experienced. A mentor is motivated and willing to offer their skills, knowledge and vision of life to a younger member of the organization to support attainment of personal and professional development goals (Gentry, Weber and Sadri, 2008). The mentee is a person in search of personal and professional fulfillment. The mentoring relationship is characterized...
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...Entrepreneurship Development Code: 209 Credits: 3 Unit I Meaning of Entrepreneurship, types of entrepreneurship, concept of intrapreneur, importance, developing entrepreneurship through training and motivation. Unit II Idea Generation, Identifying and Evaluating business Opportunities, idea generation and evaluation, Lifecycle and growth plans and the role of the entrepreneur in each stage, Exit options, Preparation and Presentation of Business Plans. Unit III Post-entry entrepreneurial issues: Implementing Business plans, Forms of business ownership, Professionalization and Management Succession, Reinventing and turn around. Support systems for entrepreneurs: Institutional support: Training Institutions, Financial Institutions, Research and Technology, Marketing and Legal aspects, Taxation benefits, Global aspects of Entrepreneurship SUGGESTED READINGS: 1. Anjan Raichaudhuri (2010) Managing New Ventures- Concepts and cases on Entrepreneurship, PHI Learning Pvt. Ltd., New Delhi. 2. Hisrich, R.D, Peter, M. P and Shepherd, D.A (2006) Entrepreneurship, New Delhi: Tata Mcgraw Hill, sixth edition. 3. Dollinger, Mark J (2004) Entrepreneurship: strategies and resources, Delhi: Pearson Education (Singapore) 4. Sharma, Sudhir, Singh, Balraj and Singhal, Sandeep (2005) Entrepreneurship development, New- Delhi: Wisdom Publications 5. Saini, J S and Rathore, B S (2001), Entrepreneurship: theory and practice....
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...Introduction A woman entrepreneur is defined as a woman who has alone or with one or more partners started or inherited a business, and is eager to take financial, administrative, and social risks and responsibilities, and participate in the day-to-day management activities (UNDP, 2004). Women in Asian countries like India, Myanmar and Bangladesh have played and also are playing a good role in politics. So, Bangladeshi women are enjoying freedom to join politics as well as business. But compared with the Unites States and the European countries, the number is still poor. In fact, women entrepreneurship development is a challenging phenomenon in Bangladesh as women are lagged behind (economically and socially) compared to men. Generally, women are more victimized as because of their illiteracy, unawareness, unorganized, powerless or less political representation, deprivation, rigid social customs, religious constrains and injustice by their counter partners particularly in rural area. Women constitute about a half of the total population in Bangladesh. So for proper representation of women in the arena of entrepreneurship development, "women should constitute 50 per cent of the country's total entrepreneurs." But the ground reality is totally different. "The ratio is not even 10 per cent. The actual ratio is much lower than that. We do not know the exact number of women entrepreneurs in the country,” There is no real information on how many women entrepreneurs exist in the country...
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...Development, Problem, Prospects and Progress of Entrepreneurship development in Narayanganj Sadar Upazilla: A Short Case study Entrepreneurship - the process of starting a business; typically a startup company offering an innovative product, process or service is termed as entrepreneurship. The entrepreneur perceives an opportunity and often exhibits biases in taking the decision to exploit the opportunity. Entrepreneurship can be defined by describing what entrepreneurs do. For example: “Entrepreneurs use personal initiative, and engage in calculated risk-taking, to create new business ventures by raising resources to apply innovative new ideas solve problems, meet challenges, or satisfy the needs of a clearly defined market.” It refers to activities related to undertaking the efforts to set up an industry or business establishment. He who takes to establish business is the entrepreneur. Entrepreneurship is an entity of people with the ability to see an opportunity where necessary capital, labor & other inputs operating together & successfully along with know-how skill and have willingness to take the personal risk of success or failure. According to Jean Baptist Say, ‘Entrepreneur is an economic agent to unite all the means of production.’ An entrepreneur is an individual who takes moderate risks and brings innovation. Entrepreneurs are often contrasted with managers and administrators who are said to be more methodical and less prone to risk-taking. According to...
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...ENTREPRENEUR Our economy has developed many views about an entrepreneur. It can be referred to as one of the factors of production or someone who has opened a new venture in an existing industry. Commonly, an entrepreneur is regarded as the owner of a big company or firm. However, such views portray a narrow and restricted activity of an entrepreneur. In the real world, an entrepreneur does much more than just setting up a firm. It plays a vital role in the flourishing of a country. Joseph Schumpeter believed that “everyone is an entrepreneur only when he actually carries out the new combinations and loses that character as soon as he has built up his business.” (The Theory of Development, 1934). His belief holds true to a large extent and modifies the way we commonly think of an entrepreneur. He describes entrepreneurship to be process or activity that is carried out by a person. Thus the quality of this entrepreneurial spirit is possessed for only a certain period of time and doesn’t last forever. It’s the ability of an entrepreneur to identify what the market is devoid of, reacting creatively to the opportunity with new ideas and acting upon these ideas through a process of innovation to produce new goods, creating demand for it and giving it market value. Such a process leads to correction of market failures and deficiencies (Leibenstein, 1995, Schumpeter 1942). It causes changes in the market by creating disequilibrium of market forces. These changes act as sources...
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... Mobile No. 09765759262 Email- prabhakarharkal@gmail.com Email- gdchaudhari@gmail.com Abstract: Entrepreneurs play a key role in the economic development of a country. Economic development of a country...
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...Entrepreneur: Entrepreneurs built and create the future and that they are to be found in every walk of life and in every group of people.”A person who habitually creates and innovation built something of recognised value around perceived opportunities”. In this definition there is some key word s to define. ‘A person’ can be a group of a people, a organization. ‘Habitually’ is an important characteristic of entrepreneurs. The true entrepreneurs just cannot stop being an entrepreneur habitually. ‘Creates’ is used to describe that an entrepreneurs are start from the scratch and develop new thing. Entrepreneurs are creator first and builders second. ‘Innovate’ means to build something new. For entrepreneurs every problem is aa new opportunities. ‘To build something’ describe the outcome. ‘Perceived opportunities’ is important to provide direction and focus. (Bill Bolton and Jhon Thompson) Characteristics of an entrepreneur: According to the Bill Bolton and Jhon Thompson entrepreneurs has some key Characteristics. Ability to take the calculated risk Need to achieve Initiative and taking responsibility Orientation to clear goals Creativity Honesty and integrity Independency Entrepreneurial attributes: Attributes are being considered as the best predictors of an intention to a particular behavioral act. The model is based on psychologists Fishbein & Ajzen (1980) to explain human action is a part of behavior. 1) Clarity of vision and...
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...Entrepreneurship and Government Support Name: Evans Gwaro Institution: Kisii University Entrepreneurship and Government Support Introduction Economic development requires people who are willing to risk their resources to start and operate profit-oriented enterprises in a country. This is the sole responsibility of entrepreneurs. Some scholars argue that entrepreneurship can be given definitions from different viewpoints such as theoretical or operational perspectives. Ogbo and Nwachuku (2012) argue that theoretical dimension covers many activities relating to uncertainties in a business while operational definitions relate to simpler or single activity. Regardless of the point at which an individual stands to define entrepreneurial practices, the bottom line is the concept that is concerned with taking great risks to bring changes in business by organizing, planning, and initiating processes that yield desired outcomes. In most cases, entrepreneurship is evident to dominate in small scale enterprises even though they constitute a large percentage of economic drivers. Despite the little capital that is pumped to run these enterprises, revenue generation is increasingly becoming significant in many economies. The role of Entrepreneurship in Economic Growth It is important to analyze the role played by entrepreneurs in the growth of economy in many countries. They are often referred to as ‘engines of economic growth’ because they propel economies (Ogbo & Nwachuku, 2012)...
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...organizations, to perceive and create new economic opportunities (new products, new production methods, new organizational schemes and new product-market combinations) and to introduce their ideas in the market, in the face of uncertainty and other obstacles, by making decisions on location, form and the use of resources and institutions. Unlike Timmons (ibid), Wennekers and Thurik believe that entrepreneurship is not limited to creating or seizing a business opportunity, there has to be willingness and ability to perceive new economic opportunities(new products, new production methods, new organizational schemes and new product-market combinations). Entrepreneurship can thus be seen as the activity of an entrepreneur. Entrepreneur Hisrich and Peters (1998) ,see an entrepreneur as someone creating something new with value by devoting time and effort, assuming the accompanying financial, physical and social risks, and receiving the resulting rewards of monetary and personal satisfaction and independence....
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...used in one market to create a new market or it could be creating a new technological product for an existing market or creating a new product for a new market. 1. Because opportunities exist in high uncertainty, entrepreneurs must use their judgment about whether or not to act. 2. The individual’s prior knowledge can decrease the amount of uncertainty. C. The McMullen-Shepherd model explains how knowledge and motivation influence two stages of entrepreneurial action. 1. Signals of changes in the environment that represent possible opportunities will be noticed by some individuals but not others. 2. Individuals with knowledge of markets and technology are more capable of detecting changes in the external environment, and if motivated will allocate further attention to processing this information. 3. The result of Stage 1 is an individual’s realization that an opportunity exists for someone. 4. The result of Stage 2 is the individual then needs to determine whether it represents an opportunity for him or her. D. To be an entrepreneur is to act on the possibility that one has identified an opportunity worth pursuing and it involves entrepreneurial thinking. II. HOW ENTREPRENEURS THINK A. Entrepreneurs think differently than nonentrepreneurs. B. Sometimes they have to make decisions in highly uncertain environments, with high stakes and immense time pressures. C. Given the nature of an entrepreneur’s...
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...LETTRR OF TRANSMITTAL 17TH DECEMBER, 2012. TO Dr.A.K.M.Helal ul zaman Director of MBA program Faculty of Business ASA University Bangladesh. Subject: Women Entrepreneurship A study on some selected Boutique Business in Chittagong. Dear Sir, This is a great honor for us to hand you the report about Women Entrepreneurship: A study of some selected Boutique business in Chittagong, completed on different boutique house belongs to women’s. However, we have tried to attain practical knowledge of entrepreneurship. We have learned the practical experience of entrepreneurs and achieved some theoretical knowledge about it. We also find out the present situation of the women entrepreneurs and recommend the future steps that must be taken by Govt. for the improvement of women entrepreneurs. We appreciate having worked under you and to complete the report under your course teacher. Sincerely Yours, Name | Signature | Masudur Rahman | | Raihanul Islam | | Md.Hediatul Islam | | Md.Habibuzzaman | | Md.Tanvir Reza | Bachelor of Business Administration (B.B.A) Batch: 10th (A) ACKNOWLEDGEMENT Preparing a report requires a number of people’s contribution. The group members of “Proactive” do their part efficiently. We would like to recognize just a few people who contributed to this report. We would like to express our gratitude to all those who gave us the possibility to complete the report. We are highly obliged...
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...Case Questions: 1. Answer: Summary of the Case: Kaniz Almas Khan, the pioneer who established Persona as a brand in the beauty industry, is the name of a successful entrepreneur not only among the women entrepreneur but also among all the entrepreneur of Bangladesh. With a deep passion on beautification of human being and a great wish to do something different and big, she started her journey in the beauty industry. In her journey to become a successful woman entrepreneur in the beauty industry of Bangladesh, she got all types of necessary supports from her mother, in laws, husband and peer groups. With the aim to provide the clients with the best quality skin and hair care services, and also bridal makeover, Kaniz opened beauty salon Glamour at her residence in Kalabagan in 1990, with nine workers and an initial investment of Tk 2 lakh which she borrowed from Micro Industries Development Assistance and Services (MIDAS). After being successful to win the love of the clients , she got countrywide recognition as an expert in hair care and inspired many small entrepreneurs to get involved in this business by becoming the 'brand ambassador' for Sunsilk in 1991. As the result of the successful journey, Glamour was turned into Persona Hair and Beauty Ltd. In 1998.Now she is thee successful entrepreneur of two companies: Persona Hair and Beauty Ltd and Persona Beauty Care Ltd. Persona Hair and Beauty Ltd also runs an independent studio and monthly publication 'Canvas'. The company...
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...Introduction a. b. The Continuing and Evolving Research on Entrepreneurs The Importance of Successful Entrepreneurship Today and Tomorrow 3 4 4 5 2. Literature Review a. Introduction i. Definition of Entrepreneurs Previous Areas of Entrepreneurship Research i. Personality Traits • Motivation • Risk Propensity and Uncertainty ii. Cognition • Intention and Opportunity Seeking • Innovation iii. Population Ecology c. Topic for this Study/Theoretical Framework i. The Broad Research Problem 5 5 7 9 9 10 10 10 11 12 13 13 13 14 14 15 16 16 16 16 18 18 19 22 24 27 27 29 30 b. 3. Hypothesis for Research a. Hypothesis Statements 4. Methodology 5. Analysis of Survey Data a. b. Data Compilation Analysis & Findings i. Background Data of Respondents ii. Findings 1. 2. 3. 4. 5. Cognition in Basic Business Areas Do Emotions Figure? Preferences for Source of Funds Preferences in Knowledge Acquisition More Specific Business Aspects i. Holding Company Together ii. Growth Factors iii. Continual Growth . HELP University College, 28 October 2009 Page 1 of 43 Entrepreneurship Research, April 2008 KC Lim 6. Limitations 7. Recommendations 8. Conclusion 9. Appendix 10. References 32 32 33 35 36 . HELP University College, 28 October 2009 Page 2 of 43 Entrepreneurship Research, April 2008 KC Lim Abstract This paper presents the findings of a general opinion survey on successful small entrepreneurs in Malaysia and some of the factors (both psychological and...
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