...now considered as a growing economy which is trying to diversify its exports, mainly based on oil and natural gas, by framing and revising its legal and regulatory environment in order to foster entrepreneurship activities and the private sector interest. It leads to growing concern about the role of women in the economic environment, with legal and ethical consideration of the women’s role in the existing socio-cultural make-up of the country. The way in which countries like Saudi Arabia, have developed a domestic organized economy that is based on entrepreneurship is a hypothesis that has been widely tested and cited within the existing body of Literature. Although many academic experts believe that Middle East countries still retain a promising potential for growth (Shachmurove, 2004), major obstacles in terms of detrimental factors such as corruption, unclear regulations and reliance on oil have also recognized. Women are therefore believed to play a primary role in the entrepreneurial future of the region. In order to leverage on the untapped potential of economic growth of this country by utilizing and capitalizing on the potential contribution of the female entrepreneurs towards success of economic projects that are being carried out in Saudi Arabia, in compliance with the ethical dimensions that are deemed critical in the middle east region. Although, plethora of...
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...Introduction During this essay the concept of how enterprise ‘push and pull’ are useful in explaining why people start up a business will be explained. Furthermore this information will be backed real entrepreneurship examples from case studies. Finally there will be an overall conclusion on the findings of how these concepts make ordinary individuals go into business. Main body Business start-ups can be explained straightforwardly by push or pull factors (Gibb & Ritchie, 1982).Moreover according to (Storey, 1994) the determinants of entrepreneurship a dissimilarity is often made between push and pull. Difference between these two is that an individual can either be pushed into self-employment because he or she didn’t really have any choice or they can be pulled into starting a business whereby they can pursue business opportunities. The push factors consist of redundancy or other employment misfortunes ((Cooper, 1973) However (Andreas Freytag et all 2010) states that the push factor takes into account the persons current state and one’s preferred state. On the other hand pull factors are normally associated with the entrepreneur’s insight and also business acumen. These entrepreneurs are lured into starting a business when opportunities are presented. Pull motivated entrepreneurs are lured by their business idea and how successful it could be in the future (G,G,Cunningham et all 1995). Pull factors Independence concept is useful on the basis that both males and...
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...of entrepreneur An entrepreneur is an enterprising individual who builds capital through risk and/or initiative. The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to help launch a new venture or enterprise and accept full responsibility for the outcome. Over time, scholars have defined the term in different ways. Here are some of their definitions. a. 1725: Richard Cantillon: An entrepreneur is a person who pays a certain price for a product to resell it at an uncertain price, thereby making decisions about obtaining and using the resources while consequently admitting the risk of enterprise. b. 1803: J.B. Say: An entrepreneur is an economic agent who unites all means of production- land of one, the labour of another and the capital of yet another and thus produces a product. By selling the product in the market he pays rent of land, wages to labour, interest on capital and what remains is his profit. He shifts economic resources out of an area of lower and into an area of higher productivity and greater yield. c. 1934: Schumpeter: Entrepreneurs are innovators who use a process of shattering the status quo of the existing products and services, to set up new products, new services. d. 1949: C.H. Danhoff: Entrepreneurship is an activity or function and not a specific individual or occupation . . . the specific personal entrepreneur is an...
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...“Entrepreneurs are born not made.” Critically analyse this statement with reference to the literature and to your experience of entrepreneurship. This essay aims to evaluate the various traits identified with entrepreneurs, and then establish whether entrepreneurs are born with these traits, or whether, they are shaped and developed through their life experiences. Put simply the purpose of this essay is to establish whether entrepreneurs are ‘born or made’. This essay focuses on two distinct schools of researchers in the field of entrepreneurship: The more traditional group of researchers has focused on the personality characteristics of the individual, the internal factors, whilst a second group of researchers have taken a social cognitive approach. They look at the relationship between an individual and his or her environment. The external factors include culture, role models, work experience, education, and environment. This essay looks at the early definitions of an entrepreneur, evaluates the literature which supports the theory that entrepreneurs are ‘born’, and also evaluates the proposal that there is a relationship between the individual entrepreneur and their social environment, that is, entrepreneurs are ‘made’. Cantillon (1756) defined the entrepreneur as engaging in business without an assurance of profits; thus the bearing of risk being the distinguishing feature of an entrepreneur. Jean Baptiste Say expanded on this by making the entrepreneur the pivot of the...
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...Despite the vital role entrepreneurship plays in the economy, there are numerous challenges facing entrepreneurship development. The Micro and Small enterprises bear the brunt of it all (Pike 2007). It is estimated that as many as 75% of small enterprises started in Kenya fail within three years of their birth. Indeed an enterprise that is more than three years old is regarded as having achieved some measure of success. Therefore, there is the need to strengthen entrepreneurship to nurture nascent entrepreneurs and achieve the goal of enterprise development. The following are methods of strengthening entrepreneurship in Kenya: Strengthening financial systems The biggest challenge to entrepreneurial ventures is lack of capital to realize entrepreneurial dreams. A lack of resilient financial systems has been a hindrance to development of MSEs and hence entrepreneurship. A sound financial system therefore improves the entrepreneurial ecosystem. Private equity and venture capital are an important source of seed money. Overall, access to credit is some of the financial challenges of entrepreneurship in Kenya. Development of capital markets is the key to encouraging graduation of SMEs from ordinary small companies to public listed entities. Is the same vein, a healthy banking sector improves access to capital for startups. Government support through policy perceived as friendly by entrepreneurs The...
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...English 209. Prof. Fitzgerald Final Draft Essay#2 10/30/2014 Essay#2 If human history were a long river, the changing of the modern society would be one of the most striking sprays in the history. In today’s world, people are changing their attitudes about sex and marriage. Many norms and standards have changed dramatically. Yesterday, the world was still a man-dominant society, but today, more and more women hold many senior jobs and show that they are as capable as males. Yesterday, young men were still struggling with how to make their girlfriends happy, but today, causal sex especially “hookups” are becoming more acceptable and popular among young people. Yesterday, the main goal for everyone was still to marry an ideal partner and built a family, but today, there are more and more singles saying “no” to marriage. It is really difficult to judge these changes because they are not just simply a positive or negative issue but also a reflection of human development. In my point of view, we should hold a positive view of the phenomenon that women have more economic power because it is a symbol of the improvement of female statues. However, when people are trying to break the bonds of convention and live freely, it is very easy for them to fall into a wrong path. I believe many people have lost themselves when they are pursuing causal sex and the status of being single. The increasing economic power of women not only shows women have the same capability as men do but...
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...Title: The Inspiring Legacy of Madame CJ Walker. Madame CJ Walker, born Sarah Breedlove, was a trailblazing entrepreneur, philanthropist, and activist who left an indelible mark on American history. Her remarkable journey from poverty to becoming the first female self-made millionaire in the United States is a testament to her resilience, innovation, and commitment to empowering others. This essay will delve into the life, achievements, and enduring impact of Madame CJ Walker, highlighting her contributions to the beauty industry, advocacy for African American rights, and her lasting legacy as a pioneer of economic empowerment. Madame CJ Walker's entrepreneurial spirit and determination were evident from an early age. Born in 1867 to formerly enslaved parents, she faced numerous challenges and hardships. However, her unwavering resolve led her to establish a successful line of hair care products specifically designed for African American women. Recognizing the need for specialized hair care solutions within her community, she developed and marketed her own products, including the renowned "Madam Walker's Wonderful Hair Grower." Through her innovative approach and business acumen, she not only transformed her own life but also uplifted countless others by providing employment opportunities and promoting self-confidence among African American women....
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...he theorises that the value of the product or service will exceed the cost of input factors thus generating superior returns that result in the creation of wealth. In line with this he says that destruction of old ways of doing things through innovation is key to entrepreneurial activities and GDP growth. This is supported by Kirzner’s (1973) theory of entrepreneurship of “alertness to hitherto undiscovered opportunities” and the action in the market economy of arbitrage and the value this can create. Who becomes and entrepreneur and why? According to Gartner (1985), “the entrepreneur is not a fixed state of existence; rather entrepreneurship is a role that individuals undertake to create organisations”. In this way one can understand how complex the matter of answering the question of who becomes and entrepreneur and why. Gartner believes that using a behavioural approach scholars are able to separate the act of entrepreneurship from the individual entrepreneur and so methodologies and techniques can be developed to discover correlations between the two factors. When looking at the individual, studying the he individual domains which include personality, motivation, and prior experience are helpful. The psychological characteristics such as risk-taking propensity and entrepreneurial self-efficacy along with developed skills and abilities influence entrepreneurial intentions (Zhao, Seibert, and Hills 2005). Contextual variables such as social context, markets, and economics...
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... The last several decades have seen record numbers of entrepreneurs launching business. In 1969, entrepreneurs created 274,400 new corporations; today, the numbers of new incorporation exceeds 600,000 in a typical year! Another indicator of the popularity of the entrepreneurship is the keen interest expressed by students in creating their own businesses. Increasing number of young people are choosing entrepreneurship as a career rather than joining the ranks of the pinstriped masses in major corporations. In short, the probability that you will become an entrepreneur at some point in your life has never been higher! Research suggested that entrepreneurial activity remains vibrant not only in the United States but across the globe as well. According to the Global Entrepreneurship Monitor (GEM), a study of entrepreneurial activity across the globe, 10% of the U.S population aged 18 to 64 is engaged in entrepreneurial activity. The study also found out that 9.5% of people in the 42 GEM countries analyzed are involved in starting a new business. Even countries that traditionally are not know as hotbeds of entrepreneurial activity are home to promising start-up companies. 2. WHAT IS AN ENTREPRENEUR (Page 5 to Page 8) At any given time, an estimated 10.1 million adults in the United States are engaged in launching a business, traveling down the path of entrepreneurship. An entrepreneur is one who creates a new business in the face of risk and uncertainty...
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...The Employment Outlook for Youth: Building Entrepreneurial Ecosystems as a Way Forward ---- An Essay --- Peter Vogel College of Management of Technology, École Polytechnique Fédérale de Lausanne, Odyssea 4.15 Station 5, CH-1015 Lausanne, Switzerland, peter.vogel@epfl.ch Since the outbreak of the recent financial crisis we have experienced some of the highest rates of youth unemployment in history. If we want to avoid branding the young people as a “Lost Generation”, we need to act quickly. One important active labor market strategy to solve the youth unemployment crisis is entrepreneurship, helping them turn into job creators rather than job seekers. Entrepreneurship has received significant attention over the past decade with a rapid and often uncoordinated increase in entrepreneurship support programs. These constitute a major part of entrepreneurial ecosystems. In order to build effective entrepreneurial ecosystems, we need to understand the components and assessment indices of such ecosystems. This essay proposes a new conceptual framework describing entrepreneurial ecosystems. The proposed framework is expected to support policymakers and practitioners in setting up new entrepreneurial ecosystems and serve as a basis for future research. Keywords: Entrepreneurial Ecosystems, Youth Unemployment, Next Generation Introduction An economic and labor market crisis has plagued the world since 2008. The labor market slowdown is dramatic with a current deficit of...
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...A Study On Role of Small and Medium Enterprises in U.A.E Submitted By: Vishal Bobal MBA (2015-2017) AUD4325 TABLE OF CONTENT 1. INTRODUCTION 2.1 DEFINATITION 2.2 SMEs IN DUBAI 2. SERVICES PROVIDED BY UAE GOVERNMENT TO SMEs 3. GOVERNMENT INITIATIVES TO PROMOTE SMEs 4. IMPORTANCE OF SMALL AND MEDIUM ENTERPRISES 5. SMEs ROLE IN THE ECONOMY 6. PROBLEMS TO SMEs 7. BARRIERS TO SMEs 8. CONCLUSION 9. REFERENSING INTRODUCTION 1.1 DEFINATION The small and medium sized enterprises (SMEs) have got very few resources, opportunities or turnover which is upto a certain extent. The definations of SMEs are flexible. This is variable from person to person. There are many people who use the word SME for those firms who have less than 500 employees, whereas some use this word for those businesses that have more than 500 workforces. However, some use the word “Big Businesses” for the organizations that have more than 500 employees. If we look at the middle east, it can be easy to see that there are numerous differences in which a regional can be taken into an account. It is also widely understood that the SMEs are the very important...
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...Society: Through the View of Many People African-Americans, Whites, Asians, Indians, Chinese, Japanese, and etc…They are all classified as ethnicities, that are judged every day in some shape or form. From day one to now I’ve learned more through the class of “Black World Studies” taught by Professor Coates. Coates gave me the intelligent insight on how Africans-Americans were able to succeed through the tough times of learning even when they could die from learning how to read. It was a sacrifice the slaves had to do that the time. When I read more articles and watched more movies, it showed determination, courage, heart, and attitude. When reading, it switched to a period of slavery to a period of the Civil War. After that I came to an author named Jared Diamond that gave his view on the world of slavery. In the article “How Africa Became Black” by Jared Diamond he argues that diversity resulted from the geography of Africa. Africa is home to five major human groups, blacks, whites, African Pygmies, Khoisan, and Asians. Thirty percent of the world’s language is in Africa. But as the years goes on were losing about 2 per week. Soon as the world gets older there wouldn’t be any languages in Africa. As race continues to grow in Africa there will be different types of languages being made and the previous groups (ethnic groups of language) wouldn’t exist anymore. As said in paragraph 8 of “How Africa Became Black” races are stereotyping, from Black to White, to putting the Zulu...
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...Chapter 1 Introduction to Management and Organizations True/False Questions A MANAGER’S DILEMMA 1. Today’s managers are just as likely to be women as they are men. (True; moderate; p. 4) 2. Management affects employee morale but not a company’s financial performance. (False; easy; p. 4) WHO ARE MANAGERS? 3. In order to be considered a manager, an individual must coordinate the work of others. (True; moderate; p. 5) 4. Supervisors and foremen may both be considered first-line managers. (True; moderate; p. 6) WHAT IS MANAGEMENT? 5. Effectiveness refers to the relationship between inputs and outputs. (False; moderate; p. 8) 6. Effectiveness is concerned with the means of getting things done, while efficiency is concerned with the attainment of organizational goals. (False; moderate; p. 8) 7. A goal of efficiency is to minimize resource costs. (True; moderate; p. 8) 8. Efficiency is often referred to as “doing things right.” (True; moderate; p. 8) 9. Managers who are effective at meeting organizational goals always act efficiently. (False; difficult; p. 8) WHAT DO MANAGERS DO? 10. The four contemporary functions of management are planning, organizing, leading, and controlling. (True; easy; p. 9) 11. Determining who reports to whom is part of the controlling function of management. (False; easy; p. 9) 12. Directing and motivating are part of the controlling function of management. (False; moderate; p. 9) 13. Fayol’s...
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...world by which people can get their useful products & services. Leadership and entrepreneurship is the two most important term for creating, managing and controlling the organization. Entrepreneurship refers to the process by which some new service or product is being created with taking risks. And the person who maintains the process and takes the risks is called entrepreneur. According to Cantillon R. (circa 1730), entrepreneurship can be defined as a self-employment in which entrepreneur purchase at a certain price and sale at a uncertain price which means an entrepreneur takes risks of uncertainty. Another author Schumpeter (1934) defined entrepreneurship as, “An entrepreneur is a person who is willing and able to convert a new idea or innovation into a successful innovation.” For example, a person wants to manufacture soft drinks which test is different from other brands. So, this is one kinds of entrepreneurship. Generally both entrepreneurship and leadership play important role for the organizations and entrepreneurship is not otherwise than a special case of leadership is mainly described in this essay. In the first part some concept of leadership is described by animal as well as with in human context and also theories. And in another part history of entrepreneurship definition and also some types are described. And in last this statement is analyzed by comparing...
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...Finance Name Institution Course Date This essay breakdown gender heights of international finance that underlie the engagement of the female’s movement with monetary markets and monetary rules. These gender heights happen at all stages: the micro stage (as well as the intra-family stage); the meso stage (manufacturing, banking, state organizations, taxation); and the macro stage (countrywide including internationally). The micro, meso, and macro stages of money have turned to be further inter-associated with internationalization. For instance, credits to growing nations from the International Monetary Fund (IMF) and the World Bank increase to the home supply of finance, causing high government spending and venture and/ or lowered foreign exchange deficits. Bilateral growth co-operation and World Bank lending always promote home credit organizations and schedules in growing nations. Through this manner, the 8-10 million families that take credit from micro-credit schedules are not directly reliant on international sources of money. Remittances from migrant employees create a considerable basis of foreign exchange in nations such as Philippines and Bangladesh. Accepting this appreciating of international fund like a firmly woven mesh of macro, meso, and micro stipulations, this essay studies the way international fund affects, and is affected through the distinguished economic ranks of women and men (The World Bank Group, 2013). In this essay, four sex biases of international fund...
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