..."As manager’s adviser to a possible new firm, set out the entrepreneurial new business lifecycle to help the business owners develop a strategic plan, also the options and challenges they will face in the growth and development phase ,and later on , when pursuing a “going global’ focus." At the beginning, what is Entrepreneurship? Entrepreneurship is strategic thinking and risk-taking behavior that results in the creation of new opportunities. The Entrepreneurs are either; * A classic entrepreneur is someone willing to pursue opportunities in situations others view as problems or threats. * A serial entrepreneur starts and runs businesses and nonprofits over and over again, moving from one interest and opportunity to the next. * A first-mover advantage comes from being first to exploit a niche or enter a market. What many people think is that entrepreneurial ventures and small businesses are one and the same, but they aren't. Entrepreneurial ventures are organizations that pursue opportunities, are characterized by innovative practice, and have growth and profitability as their main goals. While, Small Businesses are organizations that are independently owned, and financed; has fewer than 100 employees; doesn't necessarily engage in any new or innovative practices; and have relatively little impact on its industry.(p292) Attitude & Personal Interests of Entrepreneurs * Internal locus of control. * High energy level * High...
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...The past thirty years have witnessed the most powerful emergence of entrepreneurial activity in the world. Entrepreneurs are now described as aggressive catalysts for change in the world of business; individuals who recognize opportunities where others see chaos, contradiction, or confusion. They have been compared to Olympic athletes challenging themselves to break new barriers, to longdistance runners dealing with the agony of the miles, to symphony orchestra conductors who balance the different skills and sounds into a cohesive whole, or to top-gun pilots who continually push the envelope of speed and daring. The U.S. economy has been revitalized because of the efforts of entrepreneurs, and the world has turned now to free enterprise as a model for economic development. The passion and drive of entrepreneurs move the world of business forward as they challenge the unknown and continuously create the future (Kuratko, 2002). Several methods have been used to measure the impact of entrepreneurial ventures on the economy—for example, efforts to start a firm (which may not be successful), incorporation of a firm (which may never go into business), changes in net tax returns filed (reflecting new filings minus filings no longer received), and a substantial amount of full-time and part-time self-employment. According to the Small Business Administration, 672,000 new businesses were created in 2005; the largest in US history (even 12% higher than the...
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...Greentech could be the largest economic opportunity of the 21st century. John Doerr Kleiner, Perkins, Caufield, and Byers Results Expected Upon completion of this chapter, you will be able to 1. Discuss the pressures and demands in the marketplace that are driving opportunities for entrepreneurs with an eye toward sustainability. 2. Explain ways that entrepreneurial companies can gain competitive advantage by orienting products and processes that take environmental issues into account. 3. Describe the role that sustainability plays in building dynamic and profitable ventures. 4. Discuss the five facets of looking through a sustainability lens, and describe their impact on opportunity assessment, resources, and the team. 5. Provide insights into and analysis of the Jim Poss case study. Copyright © The McGraw-Hill Companies, Inc. Clean Commerce Is an Opportunity Sea Change As noted by perhaps the most famous modern venture capitalist in the world, John Doerr, the clean commerce and sustainable enterprise movement is 1 one of the most exciting and promising opportunity sea changes of this century. Everyone is going green. Each week brings a new announcement of a company embracing sustainability and environmental issues. Those ahead of the pack have grasped that the environment is a growing source of strategic opportunity for companies. It is now clear that there is a revolution We are extremely appreciative of...
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...determine the success small businesses and how their management practices differ from the large companies. The small business can differ from the lifestyle focused and the growth oriented firms, the lifestyle focused emphasise most on the customer and employee retention through providing them a sense of ownership whereas the growth oriented firms keep working in learning and development. Behind the unique way on how the small firms manage their companies, there is a laxity of business plans in most of the organisations which end up with slower progress or growth. While leadership in small firms are the best aspect compare to other firms since most of people in the organisation play an important role by working independently. Small entrepreneurial businesses without family ties and household or family businesses are strongly concerned with economic security, business survival, maintenance, and growth. For the small businesses, leaders are vision process-oriented, where managers are organizational-oriented. Both leaders and managers focus on people, but managers also focus on systems and structures. Leaders are decision makers along with managers, but managers may take longer to make decisions because they need to be aware of the organizational visions and goals. Where managers deal with conflict, leaders seem to be involved with conflict- meaning a manager accepts the status quo, where the leader challenges it. Table of Contents 1.0 Introduction 1 2.0 Lifestyle firms...
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...n Entrepreneurial Leadership Llami Sloman Dr. Terry Dowdy Contemporary Business 508 July 21, 2011 Common Elements The common elements that were found in the thinking of Case, Kuzes and Drucker were some important factors of the decisions that were made. There are many risk that business along with people can take that will help change the world, as well there are many creative approaches that will help keep things fresh ad the product changing to stay current with the economy. Hiring people to work for the business that have a driven purpose is important, as well getting to know them along with there opinions is a way off being successful, also rewarding the employee when they are doing something successful. Its important to have a good management team that will lead the way for the employees to follow, be passionate about working and the employees will be the same about there work. Theory My “Business Driven” theory would be a business that can manage under the constant change of the economy rather its good change or bad change, this business will still be able to function and meet the needs of the customer and still be successful. The article “understanding entrepreneurial leadership in today’s dynamic markets” means entrepreneurial leadership has the privilege of being able to find different opportunities that are open in the global driven market. Being a business person a person must first know when to change directions in a market that is constantly...
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.............................D61/76940/2012 Betty Amulyoto………………………………………………. Linda Ngenoh………………………………………………… Lawrence Njagi………………………………………………. Nyatichi Kibwage…………………………………………….. Elizabeth Akinyi……………………………………………… Stephen K. Ngui……………………………………………… John W. Oichoe……………………………………………… Rebecca Barasa……………………………………………… Mohamed A. Abbey…………………………………………. To: Dr. Zachary Bolo Awino (Ph.D) July 2013. Table of Contents Page 1. Introduction…………………………………………………………………………1 CASE STUDY: AppDIRECT Introduction This essay strategically analyses the case of AppDirect using SWOT as an analytical tool. It looks at the background of the firm, its core business, strategies employed to win competitive advantage, major achievements and challenges faced. The write up further explores the opportunities and threats that the external environment of AppDirect presents to the firm and how they can be taken advantage of and countered respectively. Lastly recommendations and alternatives solutions to challenges will be suggested. 4 Why SWOT Analysis? SWOT is an acronym that stands for Strengths, Weaknesses, Opportunities and Threats. As an analytical tool, SWOT enables managers and company executives to understand fully all internal factors (strengths and weaknesses) and opportunities and threats posed by the external environment before making any key decision. This in turn facilitates managers to make informed...
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...on taking charge of GE in 1981. Was there a strategy that was the driving force behind the initiatives? Were the initiatives effective in accomplishing what Welch was aiming for? When Welch became the CEO of GE in 1981, the US economy was reeling under recession. The challenge lied before the Welch to set a strategy to remain profitable through the recession and continue to be so. Welch responded by employing a strong strategy supplemented by the necessary structural changes. Welch followed the strategy of “as a unique, high spirited, entrepreneurial enterprise…… the most profitable, highly diversified company on earth with world quality leadership in every one of its product lines.” Clearly, Welch wanted the GE to be entrepreneurial, most profitable, diversified and quality leader this was the driving force behind the initiatives. Welch took the following initiatives, their effectives is tested below: a) Sell of Close – To be most profitable, GE needed to be in the business in which they had leadership and earning profits. And to come out of the businesses which were not profitable. Welch clearly articulated this by guiding to be either #1 of #2 in business of get out of it. As a result, GE sold more than 200 businesses. This initiatives was in perfect line with the strategy. Only by remaining #1 or #2, GE could remain most profitable. b) Diversification – GE made over 370 acquisitions, clearly moving on its strategy of diversification. Acquisitions made were...
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...Faculty of Economics MBA program Organizational Theory Module CREATING Entrepreneurship : Organizational pathways through Transformation Prepared by: Hussam Baravi Content: A. Entrepreneurship, Entrepreneurial Organization: The Concept of Entrepreneurship. Entrepreneurial Organization Factors. B. Into Transformation: The Concept. Slaughters Seven keys to success. 1|P a ge A. Entrepreneurship, Entrepreneurial Organization: In (Metaprofiling, 2013)1 study about the entrepreneurial organizations they differentiated between two concepts, entrepreneurs and entrepreneurial organization. Successful entrepreneurs are opportunists who, through their creativity, drive and vision, create economic or social value. They challenge conventional wisdom by practicing disruptive innovation — innovation that creates new markets through the application of a different set of values. They change the rules of the game by questioning the status quo and upping the stakes. It follows that an entrepreneurial organization can be defined as: An organization that places innovation and opportunism at its heart in order to produce economic or social value. However, for many organizations, this is only a brief moment in their evolution. And according to (Rodrigues et al,2003)2 entrepreneurial organizations, in fact, reflect the basic characteristics of its leadership. Filion shows a set of four indispensable characteristics of an entrepreneur. To have an idea, or a dream (a product) is for...
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...ITRODUCTION Rapid change in economic and political conditions in China, India, and other countries has already begun to affect corporate planning for the engineering workforce in the U.S. To remain competitive in the ever-changing global workforce, American engineers must develop broader perspectives and new teamwork and entrepreneurial competencies to supplement preparation in the traditional technical subjects. Although a semester-long study-abroad experience is a valuable part of an educational program aimed at providing these competencies, this paper discusses the value of supplementing such programs with broader and more comprehensive approaches. In particular, a program with distributed and progressive experiences in teamwork, entrepreneurial thinking, and pervasive design and innovation experiences are described. It’s no secret that the traditional perception of engineering students is a routine of working all day and rarely having any time for play. Let’s face it, for any diligent undergrad, hard work should be the standard, but our friends toiling away in their math and science lectures also need something other than textbooks and laboratory work to mix up their day to day activities. Enrolling in an engineering study abroad program is the perfect way to balance out all of that academic pain with some adventure and fun. There are all types of engineers and all types of engineering programs; so it makes sense that you can study engineering almost anywhere in the world...
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...presents and discusses how an entrepreneur in this ever changing world strives to become an international firm. This case study of an Omani firm Renaissance Services SAOG (hereafter, Services) explains and shows us the growth on international scale of a family owned business. In order to understand the case, several key components were identified, and were analyzed to see its text book validity. Each component is critically analyzed as the case study progresses. 1.1Introduction of the Firm As an entrepreneurial firm in 1996, Services has progressed immensely across the globe. Its chairman and founder Samir Fancy had a crystal clear vision and by disclosing it to every Tom, Dick and Harry of the firm, Services gradually progressed on international level. The firm is primarily an oil and gas industry services company, and is listed on the Muscat Securities Market in Oman. It has an excellent offshore fleet of vessels, and is counted among the world’s top ten in providing global oil and gas industry service. According to its official website (http://www.renaissanceoman.com), Services has over 12,000 employs, operating in over 16 countries. The 2012 revenue of the firm was US$ 0.67 Billion. Apart from this sector, Services also engages in several other services related sectors, such as marine engineering, media communication, and also engages itself in education and training. The firm also engages itself in Corporate Social Responsibility, by improving the standard of living...
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...then proceeds to examine the issue on a meso-level with its relation to the company Boeing. Finally it discusses the various entrepreneurial decisions and their impact on the success and failures of the corporation. The approach has been reading relevant historical books, finding articles on the Internet and interpreting different views and opinions such as the theories of Schumpeter and Fligstein. The research shows that the American capitalism has changed towards a greater use of intervention that differs from the very laissez fare conditions that were dominating in the beginning of American capitalism, though it is still not comparable with the European conditions. The company Boeing is being subsidized by the government, which can be characterized as crony capitalism, since the cooperation between these organizations helped Boeing develop a monopoly in the market of aircraft manufacturing. The entrepreneurial decisions in corporate strategy and structure have led Boeing to both peaks and disappointments. Table of Contents Introduction 3 Phases of American capitalism 3 Characteristics of the American capitalism 4 The Corporation and the State 5 Globalization 6 The 1992 EU-US Agreement 7 The technological development 8 Analysis of the abovementioned development and its reflection on American capitalism 9 Boeing – the largest global aircraft manufacturer 9 The technological development 9 Globalization 11 Crony capitalism 11 Competition between Boeing...
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...Case Study – KFC Japan INTRODUCTION Kentucky Fried Chicken (KFC) was set up by Harland Sanders. In the first decades of the enterprise there were no management systems or strategic controls. However, it worked fine in the beginning, mainly because for launching new franchises an entrepreneurial spark was fundamental. Nevertheless, the company grew and after suffering declines in sales and profits the implementation of strategic planning, which was introduced by Michael Miles in late 1975, seemed to be an adequate measure to solve the problems. By 1979, the various programs of the strategic planning progress were beginning to show results. Anyhow, some foreign subsidiaries resisted and didn’t want to adopt these measurements. PROBLEM STATEMENT One of the main problems KFC was facing, was that foreign subsidiaries were not willing to adapt standards – like strategic planning - imposed by the headquarter. Especially KFC-J has been strongly resisting the implementation of administrative operational controls and systems. Should the headquarters be prepared to accept operational variations? Moreover, it had to be clarified what was an appropriate level of performance expectations for overseas units. Even though it was obvious that KFC had to maintain its drive for aggressive growth, there was incertitude about how to ensure the continuance of such growth. Additionally, there was the issue of how to expand into new markets and countries successfully. KFC had very limited...
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...INDEX 1. INTRODUCTION 1.1. 1.2. BACKGROUND ENVIRONMENT OF ENTREPRENEURIAL 2. THE IMPORTANCE OF SMEs 3. ROLE OF ENTREPRENEUR 4. ENTREPRENEURSHIP. International 5. INTERNATIONALIZATION PROCESSES. Theories. 5.1. 5.2. UPSALA MODEL. HECKSCHER-OHLIN MODEL 6. THE PROCESS OF INTERNATIONALIZATION 7. ENTREPRENEURIAL MARKETING 7.1. 7.2. 7.3. SWOT ANALYSIS MARKET ENTRY STRATEGY COOPERATION STRATEGY 8. TARGET COUNTRY 9. GEM 10. GOVERNMENT SUPPORT 11. CONCLUSION 12. RECOMMENDATIONS 13. REFERENCES 1. INTRODUCTION: For this work I decided to open in France Cocoon clothing company, located in Granada, retailing, I have chosen these two countries because they are within the top 5 countries of the European Union in the textiles sector and are two major countries with major fashion catwalks. I chose this company because it is a small company, and is a women's clothing store that has clothes very hard to find in other stores. I chose the fashion industry especially because according to my previous studies I think it's an everchanging industry in terms of fashion and is an area in which the image is very important in Spain. Cocoon is a shop that sold clothing especially at night but you can also find jeans, skirts, blouses, accessories, handbags and more clothing at prices that will chord with our product quality. Cocoon is a very experienced workers and always try to help the customer find what you want, is a company with more than 16 years of experience in this sector. 1.1...
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...Atheer in Iraq, FastLink in Jordan, MTC Touch in Lebanon, Mobitel in Sudan, and Celtel in Africa. The success of the Celtel brand in Africa, for example, “had bred an almost unique degree of loyalty in its customers.” The fact that all these brands became local icons in their own right motivated the company to push for expansion outside the regional arena and into a global market by uniting the group under a single brand. The company introduced “One network,” which was the world’s first borderless mobile phone network, and this specific service gave an edge to the company against its competitors. MTC’s weakness and biggest challenge is the level of competitiveness the company is faced with as it enters new markets. Having to transition from an almost hegemonic position (when everybody else was afraid to enter the African market and the company had a booming market all for itself), to a position where several big telecoms threatened to become industry leaders in the targeted regions. In order to overcome such challenge the company needs a lot of innovation but it first has to solidify its identity and power as a global brand rather than dividing success among all the different acquisitions operating individually across the different regions. 2) What, if any, are the significant commonalities and differences across the various African markets in which MTC operates? Are there...
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...Lufthansa: Going Global, but How to Manage Complexity Elizabeth Olive Dr. Matthew Ademola Business 499 June 11, 2010 1. Describe the type of international strategy the company has chosen. Lufthansa has chosen a transnational strategy through which the firm looks to achieve both global efficiency and in their home market. The firm has focused on building a shared vision and individual commitment through an integrated network that includes its five business segments, alliances, and partnerships. Lufthansa uses this strategy to continue with their strategic goals regarding its core business activity passenger transportation’s vision to be a top leader at home and across-borders. These networks allow Lufthansa to manage its connections with its customers, suppliers, partners, and alliances at home and globally more efficiently. In addition, it helps to implement value-based and cost saving strategies options in regards to the products and services offered to different markets. Lufthansa’s aim in 2009 was to maintain and expand their position as the leading European quality carrier. In order to succeed the firm has focused on long term growth prospects of securing and building their market position at home then following international expansion. The firm’s position has allowed Lufthansa’s group to choose an international strategy that allows them to act with farsightedness in how to differentiate and customize their services and products to local and global markets by...
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