...Semester Entrepreneurship and Business Maris Farquharson Discuss the relationship between entrepreneurship, innovation and economic development. Yasong Zhao Student ID: 6511938 Word Count:1994 1. Introduction Over the past decade or so, the term entrepreneurship has become a fashionable way to describing the attempts at large-scale change by individuals and organizations. During this procedure, Innovation as the most important component of entrepreneurship is at a leading place, whereas, the combination of the two is vital to economic growth and sustainability in today’s dynamic and changing business environment. As a result, exploring the synergy relationship (either conceptual or practical) between entrepreneurship, innovation and economic development is gaining significance. They are complementary and related to each other, not at an initial stage of a new venture; rather they are dynamic and holistic processes. This integrative interaction between the three has had a positive and comprehensive impact to the whole society. Therefore, the role of sustainability is highlighted as the guidance to entrepreneurial and innovative decision making in the organisations or by individuals. This paper will first look into the relationship of the three by discussing each two of them, and then focus on the importance of sustainability from ecology, economy and social levels. 2. Relationship between entrepreneurship, innovation and economic development 2.1 Entrepreneurship and innovation...
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...A brief discussion of the relationship between entrepreneurship, innovation and economic development as well as the role of sustainability in the relationship Introduction: The origin and development on theory As early as the 17th century, the French term "entreprendre "appeared in economics, which evolved into "entrepreneur" as commonly used (Dees,1998). The concept of entrepreneur keeps on developing and varies with the development of socio-economics. Richard Cantillon published his in 1775 “Essay on the Nature of Trade in General" (Murphy,1986). Since then, entrepreneurship was given a definition in the perspective of behavior, including decision-making, sound judgment, supervision of production, innovation, and resource reallocation (Herron, 1993). The new definition of the "entrepreneur" credited by French economists was put by Jean Baptiste in the 19th century "the entrepreneur shifts economic resources out of an area of lower and into an area of higher productivity and greater yield". In this time, entrepreneurship was given the meaning of "creating values"(Dees, 1998). In 1911, “entrepreneur as innovator” was put forward by Schumpeter. In his theory, entrepreneurship nearly the same as innovation is thought to be a critical factor in the promotion of economic development. This theory was unceasingly completed by Schumpeter. Through the process of “disruptive innovation” (Schumpeter, 1942), entrepreneurs create economic opportunities and obtain economic benefits by causing...
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...Sustainable entrepreneurship, a field to emerge or not to emerge? Can this contribute to a sustainable future? Introduction Given the current global economic climate and despite its oppressive nature, many scholars have risen and pounced on the consequent opportunities available by taking an interest in the field of sustainable entrepreneurship. Research on sustainable entrepreneurial opportunities is still in its infant topic, which leaves researchers with a lengthy way to explore on this emerging field, but at the same time, it limits the research for this paper. “Sustainable development is a concept that describes the social goal of improving and maintaining human wellbeing over a long-term time horizon within the critical limits of life-sustaining ecosystems”(UN Conference on the Human Environment, 1972). While on the other hand, entrepreneurship is a scholarly field that “seeks to understand how opportunities to bring into existence future goods and services are discovered, created and exploited, by whom and with what consequences. (Venkataraman, 1997). But what if we combine both concepts? Is it possible to combine the profit and social and environmental orientation in one company? (Gawell, 2012) The aim of this paper will be to explore the different definitions form the scholars that have done research this field and also to see how the need of sustainable entrepreneurship has emerged in the last decade as one of the solutions for this unsustainable world. This paper...
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...reduction, innovative aerodynamics and engine efficiency measures, as well as the use of alternative drivetrain solutions and the research of new technologies, to provide sustainable mobility already today. BMW has announced the creation of a sub-brand devoted to "sustainability" and said it had established a unit for mobility services. Sustainability is business reality about making the business more efficient, without compromising the resources for tomorrow. Sustainability has become a very extensive and complex field. However, many approaches to sustainability of the business are fragmented, often disconnected from the business. The industry's largest luxury car producer said on Monday that its "BMW i" marque would launch its first two vehicles - an electric city car and a rechargeable hybrid car - in 2013. One of the weeks’article proposes a model of how incumbents and new entrants engage in sustainable entrepreneurship. They suggest that in the early stages of an industry's sustainability transformation, new entrants (‘Emerging Davids’) are more likely than incumbents to pursue sustainability-related opportunities. Incumbents react to the activities of new entrants by engaging in corporate sustainable entrepreneurship activities, like BMW compare to other car manufacturers within the field. While these ‘Greening Goliaths’ are often less ambitious in their environmental and social goals, they may have a broader reach due to their established market presence. The interplay between...
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...Introduction In order for us to get a clear understanding of the topic “Concept of sustainability in engineering” we should get a clear understanding/definition of the topic, therefore we should understand what engineering and sustainability is, which are the two keywords in this topic and also how both of them are related. First we will look into the definition of engineering. • What is engineering ? According to the oxford dictionary, engineering is defined as follows; Engineering (noun): (1) The branch of science and technology concerned with the design, building, and use of engines, machines, and structures (2) The action of working artfully to bring something about. (Source: https://en.oxforddictionaries.com/definition/engineering)...
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...Management Assignment Analysis Report on Haigh’s Chocolates Management Management Assignment Analysis Report on Haigh’s Chocolates Management April 25, 2016 April 25, 2016 Table of Contents Executive Summary 1 Introduction 2 Background of the Company 3 Research and Analysis of Sustainability Strategies 4 Role of Organisational Behaviour at the Company 4 HR Management Practices at the Company 6 Role of International Business at the Company 7 Role of Technology Management at the Company 8 Analysis of Entrepreneurship and Innovation at the Company 9 Recommendations and Conclusions 10 Reference List 13 Executive Summary This report has been commissioned to examine different spheres of management and the management practices followed by Haigh’s Chocolates. The research draws attention to the fact that main sustainability problem lies with the supply chain. Further reading provides that the company sees sustainability as a concern and follows practices in Australia and abroad like sustainable farming and purchasing raw material from UTZ certified companies only. Further, the paper talks about training provided to the company’s employees towards sustainability. The paper also talks about the role of international business and technological management at the company which states that the company has a one-way international business route and talks about the company’s manufacturing process using high end technology. Further, the paper talks about the...
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...Sustainable Microentrepreneurship: The Roles of Microfinance, Entrepreneurship and Sustainability in Reducing Poverty in Developing Countries GUY VINCENT CONTENTS 1. INTRODUCTION 2. THE RELATIONASHIPS BETWEEN MICROFINANCE, ENTREPRENEURSHIP AND SUSTAINABILITY IN REDUCING POVERTY IN LDCS 2.1. THE ROLE OF MICROFINANCE IN REDUCING POVERTY IN LDCS 2.2. THE ROLE OF ENTREPRENEURSHIP IN REDUCING POVERTY IN LDCS 2.3. THE ROLE OF SUSTAINABILITY IN REDUCING POVERTY IN LDCS 3. SUCCESSFUL CASE STUDIES OF MICROFINANCE, ENTREPRENEURSHIP AND MICROFINANCE IN REDUCING POVERTY IN LDCS 4. EFFECTS OF SUSTAINABLE MICROENTREPRENUERSHIP ON LDCS 5. CONCLUSION 6. REFERENCES 1. INTRODUCTION About 90 percent of the people in developing countries lack access to financial services from institutions, either for credit or savings1, which further fuels the “Vicious Cycle of Poverty” (refer to Fig. 1). If the people of LDCs have a limited capacity to invest in capital, productivity is restricted, incomes are inhibited, domestic savings remain low, and again, any increases in productivity are prevented. A lack of access to financial institutions also hinders the ability for entrepreneurs in LDCs to engage in new business ventures, inhibiting economic growth, and often, the sources and consequences of entrepreneurial activities are neither financially nor environmentally sustainable (existing for continuing future use). Microfinance serves as a means to empower the poor, and provides a...
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...Bmw Sustainability On the website of BMW they refer that their long term goal is to combine efficiency with increased driving pleasure. The continuous optimisation of the vehicles, such as systematic weight reduction, innovative aerodynamics and engine efficiency measures, as well as the use of alternative drivetrain solutions and the research of new technologies, to provide sustainable mobility already today. BMW has announced the creation of a sub-brand devoted to "sustainability" and said it had established a unit for mobility services. Sustainability is business reality about making the business more efficient, without compromising the resources for tomorrow. Sustainability has become a very extensive and complex field. However, many approaches to sustainability of the business are fragmented, often disconnected from the business. The industry's largest luxury car producer said on Monday that its "BMW i" marque would launch its first two vehicles - an electric city car and a rechargeable hybrid car - in 2013. One of the weeks’article proposes a model of how incumbents and new entrants engage in sustainable entrepreneurship. They suggest that in the early stages of an industry's sustainability transformation, new entrants (‘Emerging Davids’) are more likely than incumbents to pursue sustainability-related opportunities. Incumbents react to the activities of new entrants by engaging in corporate sustainable entrepreneurship activities, like BMW compare to other car manufacturers...
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...Linking Enterprise and Sustainability: a briefing paper for the Cafe Forum, 3 March 2009 This paper looks briefly at the relationship between enterprise and sustainability and is based on research undertaken by CSF in 2009-10, including practice in five other HE institutions. Introduction How ‘enterprise’ and ‘sustainability’ are conceptualised by an institution is key to their coherent expression in policy and practice. Seen in relation, a ‘sustainable enterprise culture’ might be defined as: A deep-rooted enterprise mindset valuing and balancing the sustainable development elements of economic viability, environmental responsibility, and social equity. (Wirtenberg, J. et al, 2008) Currently, two major drivers for change and development in the HE sector which invoke both enterprise and sustainability are: • the contribution of HE to economic development (DBIS, 2009) • the expected role of HE in helping achieve a transition towards more sustainable and low carbon society against a background of climate change and related issues (HEFCE, 2010) Before looking at the University’s interpretations and associated manifestations of ‘enterprise’ and ‘sustainability’, it is worth exploring and unpicking the concepts themselves. ‘Enterprise’ is deployed both in adjectival and noun forms, the former connoting a valuative stance, (as in ‘enterprising’). This leads to a certain ambiguousness in meaning and indeed, interchange between use of...
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...ECONOMIC DEVELOPMENT IS CAUSED BY ENTREPRENEURSHIP AND INNOVATION HAS TO BE SUSTAINABLE Economic development is separate to entrepreneurship and innovation as it is usually the result of both products together. It refers to changes in living standards or welfare over time. Entrepreneurship and innovation are interlinked and if one of them is achieved, the other must also be. Entrepreneurship is defined as one who introduces “the carrying out of new combinations,” (Schumpeter, 1934, p.74) whereas, innovation is the introduction of a new good or service into the market and can be split into two types: “the first refers to a gradualistic movement as tastes and populations change and refinements in business are developed. The second refers to spontaneous, discrete or discontinuous, internally generated changes which cannot be progressively associated with other causes,” (Binks & Vale, 1990, p.23) therefore, the first is gradual and is described as incremental innovation and the second is spontaneous which would be regarded as radical innovation. Radical innovation is classed as more significant for economic development. It is the idea of a discrete product that changes living standards more so. For example, for the camera industry in 2004: “Kodak and Fuji were among the first to embrace digital imaging technology and currently dominate the digital camera industry. Polaroid, on the other hand, faltered in the introduction of a digital camera.” (Danneels, 2004, p.252) So, this...
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...Towards a Better Understanding of Social Entrepreneurship Some Important Distinctions Jerr Boschee and Jim McClurg In this short article the authors outline the four key distinctions that differentiate non-profit social entrepreneurial organisations from other types of charitable non-profit organisations who claim to be making use of social entrepreneurial approaches. Towards a Better Understanding of Social Entrepreneurship Some Important Distinctions Jerr Boschee and Jim McClurg Contents: • Introduction • Four Key Distinctions 1. The differences between “entrepreneurship” and “social entrepreneurship” 2. The differences between “sustainability” and “self-sufficiency” 3. The differences between “earned income strategies” and “social purpose business ventures” 4. The differences between “innovators”, “entrepreneurs” and “professional managers” • Some Final Thoughts • Social Enterprise Definition • Further Information Introduction “Social entrepreneurship” is one of the most misunderstood phrases in the non-profit sector today. Everybody, it seems, has a different definition of what it means. This is our attempt to bring some clarity to the discussion. Our perspective has been shaped by 50 years of experience in the field, one as head of a national consulting firm and the other as the chief executive officer of a US$ 15 million social enterprise. Twenty years ago the idea of non-profits acting in an entrepreneurial manner...
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...Business Plan CHE488 ENTREPRENEURSHIP AND BUSINESS FOR ENGINEERS Student: Matheus Borges Piuzana Barbosa - #1001008401 Professor: Joseph Orozco University of Toronto CHE488: Entrepreneurship and Business for Engineers (Winter 2014) Table of Contents 1 Executive Summary ............................................................................................................... 3 2 The Business and its Owner ................................................................................................... 4 2.1 The industry ..................................................................................................................... 4 2.2 Business Location............................................................................................................ 4 2.3 Key people ....................................................................................................................... 4 2.3.1 CEO: Matheus Borges Piuzana Barbosa ...................................................................... 4 2.3.2 Research and Development: Erick Fonseca ................................................................. 4 2.3.3 Sustainability Responsible: Louis Briand .................................................................... 4 2.3.4 Marketing Consultant: Lucas Henrique ....................................................................... 5 2.4 Trademark and patent info ...............................................................................
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...TOPIC ONE The existing tremendous change among American citizens towards health has created a new wave among health care attendants. The American citizenry has become more concerned with their health. The level at which people are concerned with lifestyle diseases such as diabetes and high blood pressure has increased the demand for health care. Most citizens are attending health care sessions to know about their level of sugar and their pressure rates. There has been an increase of attention towards the aging in the society. The aging population has health issues that require constant observation from the health care attendants. Angermeier et.al (2009) indicates that most Americans have become more proactive towards health issues and this could strain the existing manpower within the health sector. This is because the number of physicians that is supposed to attend to a number of patients does not match the existing number of trained physicians. This occupational pressure among physicians has led made the health care sector in America to reconsider some of the old practices that have defined occupational roles within this sector. Auerbach (2012) reveals that the above situation in the American society has led to issues such as the need to offer doctoral level training for nurses, new form of certification that is anchored on physician examinations and the need for retail health centers for nurses. Traditionally, Lowe et.al (2012) indicates that nurses were helpers to physicians...
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...degree in Accounting. Pursuing Masters of Business Administration (MBA) at Arab Academy for Science and Technology, Alexandria's Branch, Human Resources (HR) Major. 2010 – Now: Currant Occupation: - Program Assistant and Trainer for Political Parties at the National Democratic Institute (NDI) for International Affairs, Alexandria, Egypt. Former Follow Up Agent (Customer Service Dept.) at Link Dot Net, Broad Band Alexandria (First internet Service Provider Company in Egypt). - - Former Secretary General of Alexandria International Model United Nations 2010 (AIMUN2010), In partnership with World Bank (WB), Youth Entrepreneurship and Sustainability (YES, Inc.), United Nations (UN), and Suzanne Mubarak Women's International Peace Movement, and the Swedish Institute. Former Board Member of the Youth Entrepreneurship and Sustainability Egypt Network (YES, Inc.) - 1 Experiences: 2006 : IBM Certificate in Introduction of Visual Basic 6. : Training in the Egyptian Stock Exchange Market. : Participated and Organized the 5th Alexandria International Bridge Festival at Alexandria Sporting Club. 2007 : Delegate at the Alexandria International Model of United Nations (AIMUN2007), in partnership with the Public Information Center (PIC) of the World Bank Group, Egypt and the Global Youth Employment Summit (YES) : Elected as the Best Delegate during the conference of the AIMUN2007. : Carrier of the International Computer Driving License (ICDL) :...
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...Nursing: Discussion Board Response Student’s Name Institutional Affiliation TOPIC ONE The existing tremendous change among American citizens towards health has created a new wave among health care attendants. The American citizenry has become more concerned with their health. The level at which people are concerned with lifestyle diseases such as diabetes and high blood pressure has increased the demand for health care. Most citizens are attending health care sessions to know about their level of sugar and their pressure rates. There has been an increase of attention towards the aging in the society. The aging population has health issues that require constant observation from the health care attendants. Angermeier et.al (2009) indicates that most Americans have become more proactive towards health issues and this could strain the existing manpower within the health sector. This is because the number of physicians that is supposed to attend to a number of patients does not match the existing number of trained physicians. This occupational pressure among physicians has led made the health care sector in America to reconsider some of the old practices that have defined occupational roles within this sector. Auerbach (2012) reveals that the above situation in the American society has led to issues such as the need to offer doctoral level training for nurses, new form of certification that is anchored on physician examinations and the need for retail...
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