...ENTREPRENEURSHIP DEVELOPMENT BBM 210/05 TMA 2 STUDENT NAME : SIEW SEE HOW STUDENT ID : 051140021 H/P NUMBER : 016-5455959 EMAIL : webbiesiew@gmail.com CLASS CODE : 5ENT1 TUTOR NAME : MR. PUVANABALAN VEERASAMY Question 1 a) Discuss the ways an entrepreneur can improve communication and hold effective meetings. In general, communication is a process which means of connecting people. Communication happens anywhere for various reasons such as exchange information, ideas, express feelings and emotions. As for entrepreneurs, communication is important to them to communicate with their stakeholders or employee as well as their customers so a good communication skill is important for them. Thus, entrepreneurs need to improve their communication skill in order to communicate effectively with others. One of the many ways to improve communication skill is by having confidence when communicate with others. Confidence comes from feelings of well-being, skills and experience as well as from a positive mind. It’s a key component of being an effective communicator. For instance, John had just invented a new vacuum cleaner technology and he is looking for investor to invest to mass produce his creation. In order to gain his potential investor confidence over his product, John needs to prepare himself well with all possible questions from them. A good preparation will help John increase his confidence level when communicating with them. Beside self-confidence...
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...| Entrepreneurship | SBMG 6006 | | Discussion on an importance of risk taking and innovation in entrepreneurship. | | 7/14/2011 | | Executive summary: - This academic work explores that how risk taking and innovation play an important role in entrepreneurship process. This report provides critical view about these given topics by examined different models, theories and opinions of different authors etc. This report also puts light on differences between term entrepreneurship and entrepreneur. Methodology: - Introduction: - Entrepreneurship is a dynamic process of vision, change and innovation. It requires an application of energy and passion toward the creation and implementation of new ideas and creative solutions. Entrepreneurship has been categorized in different skills such as inner control, planning and goal setting, risk taking, innovation, reality perception, use of feedback, decision making and human relation etc. Miller (1983) defines entrepreneurship as a multidimensional concept encompassing a company’s action relating to innovation and risk taking and proactive measures.Innovation and risk-taking has an important place in entrepreneurship. Schumpeter (1994) described role of entrepreneurship as tendency of company to engage in and support new ideas, novelty, and experimentation that may result in new products, services. Risk taking describes the nature of entrepreneur. A.H. Cole has explained entrepreneurship as, “the...
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...Entrepreneurship and Small Business Management Unit Code: MAR 602-6 Small Business and Entrepreneurship Mr. Pradeep Kashyap MART consultancy Submitted by: Jayesh Kannan – 1221961 Abin Jacob - 1133828 1|Page Entrepreneurship and Small Business Management Unit Code: MAR 602-6 About Pradeep Kashyap Pradeep kashyap, the CEO and the founder of MART, is known as the father of rural marketing in India. He is currently the marketing consultant of the Ministry of Rural Development and has worked with the Prime Minister’s Office and Chief Minister Committees on rural development. He has also worked as a consultant in the World Bank and United Nations and was the Chairman of Khadi Commission National Marketing Committee and a member of the National Bank for Agriculture and Rural Development (NABARD) and Small Industries Development Bank of India (SIDBI) national advisory committees. Pradeep Kashyap has 20 years of history, working with multinational companies like EXIDE, BOSCH & DENSO, and another 20 years as the guide for the rural development and marketing committees. Mr. Kashyap is a regular speaker at various CEO forums both within the county and outside India. He is very well known as a leader and an entrepreneur. In 2008 at Cannes Lions in France, he was the only speaker from India among the 50 global speakers all around the world who addressed 24 seminars. Mr. Kashyap is often invited by top business schools in India as a guest speaker. Pradeep Kashyap also...
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...STI COLLEGE BALAYAN PED PLAZA, ERMITA, BALAYAN, BATANGAS ENTREPRENEURSHIP ACCOUNTING2 By: Ma. Recel De Leon March 20, 2013 Lecturer: Mr. Ronaldo S. Casiserano Entrepreneurship Table of Contents Introduction Have you ever asked yourself why you have to go to school to study? Or why you have to read so many textbooks, masters so much information, learn so many skills, or display attitudes and habits taught by your teacher? Every activity that you undertake in or out of school prepares you to become a productive individual in the future. A productive individual is one who is able to make a living for himself out of his own efforts, that is, without depending on others for his food, clothing, or shelter. Upon finishing school, you will want to join the ranks of productive citizens of the Philippines. You will be earning your own money to meet your personal needs. You can buy your own personal property. However, you must be prepared to face the fact that it will not be easy to go out there and get a job. So many others are out of work. Developing yourself for entrepreneurship will be one of your greatest projects in life. Your personality and character will help you immensely on the road to success, regardless of where you may be. A good thing about entrepreneurship is that it can cover a whole range of careers. For examples, different persons engaged in different occupations...
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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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...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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...the relationship between Innovation, Entrepreneurship and Economical development. Well, in my view the relationship between these terms can only be explained thru a virtue circle. All of these 3 terms rely on each other if for example you reduce tax rate the government will get more tax going in because more companies would want to move to that country with a low tax rate => increase in infrastructure which will stimulate even more companies to move over, which will stimulate the economical development to increase this all was proven by Ronald Reagan. How do you stimulate innovation? Well, there are many ways to stimulate innovation: 1. Education: thru education you can stimulate young minds to innovate create new creative ideas. 2. Subsidies/funds: For example Israel grants a huge sum of money to whoever wants to start their own business, when the company is doing well the Israeli government sells their shares with profit. 3. Infrastructure: This is probably one of the most important factors, these are for example railways, airports, ports,... All these are required for innovation and entrepreneurship. For example, China has been investing allot into its high speed trains this will stimulate Entrepreneurship and innovation. 1....
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...Drucker extended views on entrepreneurship as a meta-economic event to encompass wider on his views of entrepreneurial strategies. He had four specifically entrepreneurial strategies which were being fustiest with the most, hitting them where they are not, finding and occupying a specialized ecological niche, and changing the economic characteristics of a product, a market, or an industry. Drucker also had a time span for short and long range strategies for management. The short time span is Attention focus shift, foundational decision thinking, first action, and earliest possible moment of results. The long range is abandonment. “The time during which the initial decision must remain reasonably valid as to markets, process technology, plant location to have been the right decision originally. The twenty years it takes before, at the earliest, the individual get back with compound interest the money invested.” (Embry, 2007) . In today’s market the new meaning of entrepreneurial leadership” is one of an enterprising, transformational leader who operates in a dynamic market that offers lucrative opportunities. Identifying today’s transformational leader consist of one whom has clarity, communication, and consistency. Also one who is caring, and constantly creates opportunities, and is always self-confident! This leader has the abilities to pin point opportunities in today’s dynamic market, and takes the necessary risk to compete on a higher scale with bigger companies...
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...Guidelines for Entrepreneur Interview Paper The Entrepreneur Interview is intended to serve two basic purposes: 1) help you gather information that may be relevant in the preparation of your business plan. 2) further your understanding of the requirements of being a successful entrepreneur. Each student in the class is responsible for finding an entrepreneur that is currently or has previously been involved in a venture that is related to, or at least relevant to, the idea you plan to develop in your business plan for this class. To help prepare for your interview, see the link on the web page for possible interview questions and format suggestions. Once you have you conducted the interview, I want you to distill your thoughts into a short (6-8 double-spaced typed pages) written paper that consists of two sections. Please start by briefly introducing the entrepreneur and explaining the connection between the entrepreneur and your business idea. After the introduction, the first major section should identify and discuss the extent to which the entrepreneur you interviewed is consistent with our class discussion of an entrepreneur. Does this entrepreneur exhibit the traits/behaviors we identified in class? If yes, what are the three most prominent traits/behaviors of the interviewed entrepreneur that are consistent with the traits/behaviors we have discussed (in class and those which are discussed in the text)? You can refer to the six themes or to individual...
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...Comparison and Contrast of the Professional Stories of Michael Dell and Andy Grove Melissa A. Honea Northcentral University ABSTRACT Michael Dell and Andy Grove were both successful businessmen who use different approaches to their businesses. Both men had success and failures that shaped their business into the successful company’s they are today. Michael Dell tried a new approach to his business that he quickly saw was a failure. He realized that the approach he currently uses is the most successful for his company. Andy Grove made his company successful twice. While in the memory business he had 100 percent of the market share. He learned a hard lesson when his company was pushed out of its market share by competitors. The company had to quickly find a new niche. After three years, the company was successful again. Comparison and Contrast of the Professional Stories of Michael Dell and Andy Grove Michael Dell Michael Dell became an entrepreneur at the age of 12 when he advertised his business “Dell Stamps” in a local trade journal. While in college, Dell turned his dorm room into a personal computer laboratory and started selling them. In 1984, Dell started Dell Computer Corporation. In 1988, the company went public raising $30 million at its initial public offering (Krames, 2003a). Dell’s philosophy is to put the customer at the center of his business. All computers are custom ordered by the customer. The production process does...
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...corporate management style that integrates risk-taking and innovation approaches, as well as the reward and motivational techniques, that are more traditionally thought of as being the province of entrepreneurship. Ultrapreneurship like also an intrapreneur in such a way that they are part of an existing org. large or small. Ultrapreneur is an enterprising or entrepreneurial fellow but his innovation commences within the organization itself and whose impacts may extend beyond the organization to which he or she is directly a part. eg. realizing new opportunities such as forming a subsidiary organization.. Significance of Entrepreneurship in economic growth This study confirms that the level of entrepreneurship in a given country has a significant positive effect on the level of economic growth in that country. Contrary to some established theories, this study has found evidence that the level of entrepreneurship in a given country is not explained by the levels of the traditional causes of economic growth in that country (specifically the amounts of labor, capital, and knowledge that a country possesses as well as the presence or absence of market friendly government policies). Instead, entrepreneurship acts as an independent factor. Factors that affect growth of Entrepreneurship Economic environment Social environment Compelling factor Cultural factor Facilitating factor Psychological factor Attitude of government Education and technical knowhow Financial assistance...
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...What Makes a Good Entrepreneurial Leader? Ask Middle Managers: Knowledge@Wharton ( http://knowledge.wharton.upenn.edu/article.cfm?articleid=347) What Makes a Good Entrepreneurial Leader? Ask Middle Managers Published : April 25, 2001 in Knowledge@Wharton According to a recent Industry Standard article, the highly successful entrepreneur John Peters, now CEO of broadband service provider Sigma Networks, characterizes himself as a "serial entrepreneur" who tends to spend about four years on each of his startups. "I just thrive on the uncertainty, the challenge and the creativity of starting a company. I like the blank piece of paper." It’s no surprise that Peters, and other entrepreneurs like him, crave new beginnings, risk and change. Indeed, those characteristics almost define the breed. But according to a paper by Vipin Gupta, management professor at Fordham, and Ian C. MacMillan, director of Wharton’s Sol C. Snider Entrepreneurial Center, entrepreneurs aren’t the only ones who should be able to embrace the challenge of that "blank piece of paper." In their analysis, Entrepreneurial Leadership: Developing a Cross-Cultural Construct, Gupta and MacMillan use a term coined by MacMillan - "entrepreneurial leader" - to encapsulate the style they believe today’s managers must cultivate. They outline the qualities of an entrepreneurial leader and back up their assertions using a 60-society survey of middle managers around the globe. The survey suggests that a majority of businesspeople...
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...Academics today question the classical definition and conceptualization of culture. In the past, different definitions have been made as to what culture is. Today it has become clear that culture cannot be simply defined. Critique of the prior definitions of culture lead us to conclude that culture should be understood as being derivative of the individual’s experience. Culture is no longer a singular concept, but rather contains multiple influences and is experienced differently by different individuals of the same group. Previous definitions of culture included some very limiting Most would agree that entrepreneurs are people who take risks, invest capital, or think up new concepts for products. These different aspects may not all take place in the same situation. An entrepreneur does not necessarily have to do all of these things to be considered an entrepreneur. He or she may invest in an existing business and not change anything about it but still be called an entrepreneur due to the risk taken in running the business. People think of good ideas all the time, but an entrepreneur is someone who can successfully implement one. The entrepreneur has been identified as someone with unique characteristics that allow them to succeed at what they do. For example, they are described as having confidence, self-determination, creativity and the ability to “see the big picture” among other such qualities (Lambing & Kuehl 2007). I think Kevin Avruch cite more anecdotal evidence...
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..."I think I am/am not an entrepreneur. I am a ... entrepreneur because...” 15/9/201 Introduction In this assignment, I will explain as to why I think I am a lifestyle entrepreneur and the reasons as to why I think I am classified as this type of entrepreneur. I will discuss what a lifestyle entrepreneur is as well as the major motivations that form an integral part of the lifestyle entrepreneur’s choice to follow the specified path. The following motivations of autonomy, family and leisure time, passion and intrinsic reward and satisfaction as well as life quality will be discussed at different stages of my assignment. I will also show how some of these motivations integrate together to form a basis for the lifestyle entrepreneur. What is a lifestyle entrepreneur? As noted by Henderson (2002:49), to support a desired lifestyle or provide a family income is reasons as to why a lifestyle entrepreneur will start a new venture. These entrepreneurs also seek independence and control over their own schedule. Whilst Mottiar (2007:67) argues that a lifestyle entrepreneur is concerned with maintaining income at a level sufficient enough to provide them and their family with adequate funds to allow them to enjoy their chosen lifestyle. As can been seen in the above, lifestyle entrepreneurs aim to make as much money as they require to live and maintain the lifestyle of their choice (Janssen-Selvadurai, 2010:187). Important components to the lifestyle entrepreneur that act as motivating...
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...COLEGIO DE SAN JOSE Member: St. Louise de Marillac Educational System of the Daughters of Charity E. Lopez Street, Jaro, Iloilo City HIGHER EDUCATION DEPARTMENT TIANGGE NI SAN VICENTE KAG STA. LUISA Business Plan In Entrepreneurial Management 403 Submitted by: Kenneth Rey A. Marbebe BSBA-IV Submitted to: Mrs. Lucyl L. Gulmatico Teacher BUSINESS PLAN (Draft) October 2012 I. EXECUTIVE SUMMARY: THE BUSINESS: The Tiyangge of San Vicente kag Sta. Luisa will be the training ground for the BSBA students. It will provide learning’s and earnings to the volunteers with its products consigned and some services. MARKETING STRATEGY: Tiyangge ni San Vicente kag ni Sta. Luisa has wide range of target market as it is inside the school. The use of advertisement, promos and the beautification of the area will attract that large population to buy and avail the products and services offered. OPERATIONS: The tiyangge Ni San Vicente Kag ni Sta. Luisa will open 8:30 a.m. to 4:00 p.m. on school days. The area is located beside the school canteen. Volunteers of tiyangge have its own time to volunteer in the store, keeping the store operates 8 hours during school days. MANAGEMENT TEAM: BSBA 4 taking up the subject of Entrepreneurial Management in cooperating with the BMAP and BRC will manage the tiyangge in its daily operations and projecting plans. Volunteers will be responsible in their given time at the tiyangge, for efficient service...
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