...Table of Contents INTRODUCTION 2 CRITICAL EVALUATION 3 PRE – START UP PLANNING AND PREPARATION 3 ENTREPRENEUR IN AN ORGANISATION 4 ENTREPRENEUR AS AN INDIVIDUAL 5 ENTREPRENEUR WITHIN THE SOCIETY 5 CONCLUSION 6 RECOMMENDATION 6 REFERENCES 7 ANNOTATED BIBILIOGRAPHY 8 APPENDIX 9 INTRODUCTION Various definitions have been given to the word entrepreneur, due to the changes and complexity of the world’s economic structure. Entrepreneurs have been cussed and discussed, declared to be social misfits and bastions of the private enterprise system. “An entrepreneur sees an opportunity which others do not fully recognize, to meet an unsatisfied demand or to radically improve the performance of an existing business. They have unquenchable self-belief that this opportunity can be made real through hard work, commitment and the adaptability to learn the lessons of the market along the way”.(Martin , 2010). Entrepreneurship is an act of being an entrepreneur which involves initiating in a business venture, gathering the necessary resources and assuming the associated risks and rewards. There are common traits associated with an entrepreneur, most entrepreneurs tend to: * Tolerant of ambiguous situations * Resist conformity * Enjoy risk-taking * Self-reliant, dominant and independent * Be interpersonally aloof yet socially adroit * Adapt readily to change The importance of entrepreneurship for economic development has been widely acknowledged...
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...Leadership in the 21st Century A Hybrid Theory/Philosophy of Entrepreneurial Leadership With changes in society’s, economies, and the widespread growth of technology, entrepreneurship and leadership have both grown to take on many different definitions over the past century. Economists and behaviorists have conducted numerous studies and researches over the past fifteen years, and new definitions of entrepreneurial leadership have been formed. They include characteristics such as; innovators, risk takers, transformational, visionaries, problem solvers; and having the ability to operate in dynamic markets. While the aforementioned characteristics of entrepreneurial leaders have been agreed upon by many, I believe that it’s the people that have had the biggest effect within the discipline. Case (2010) and Kouzes (2008) both stated how important people are in an entrepreneurship. Their theories spoke of how important it is to align people around the company’s priorities, empowering employees, setting the example at the top, and showing care and concern for the business and its’ people. Because more people are obtaining higher education than ever before and the use of information technology provides for instant research and quicker patents, I believe that the people will continue to drive the changes in entrepreneurial leadership. We are the most important resource in any organization. Defining Leaders An organization’s development can depend on what levels of leadership...
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...to society - Boost economic performance Who is an entrepreneur? * Being an entrepreneur is more than just creating a new business, it also implies: * Taking risks beyond security * Constantly seek new opportunities * Having the tenacity to push an idea through to reality Creativity and innovation General management skills, business know-how, and networks Low High High INVENTOR ENTREPRENEUER PROMOTER MANAGER, ADMINISTRATOR Classical Econ. Vs. Entrepreneurship * Entrepreneurship deals with “disrupting” the existing equilibrium, by creating a new firm/product/service... * Differs from the classical economics viewpoint : In an ideal economy… -Firms cannot influence prices -Products are homogeneous -No entry barriers -No transaction costs -Profits tend to zero “0”… Becoming an entrepreneur Essential ingredients to become an entrepreneur: * The vision to recognize opportunity where others see chaos, contradiction, and confusion. * The fundamental skills of building a solid business plan. * The ability to formulate an effective venture team; the creative skill to marshal needed resources. * The willingness to take calculated risks—in terms of time, equity, or career. Entrepreneurs and Age What is the relationship? * Studies show that successful entrepreneurs are likely to be older than unsuccessful entrepreneurs, and have at least 8 to 10 years of experience in the...
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...Chapter 1 Overview of the 21st century workplace - Organizations must adapt to rapidly changing society > like in 2003 there was so wireless but now its changing now most of the business rely on wireless communication - Economy is global and driven by innovation and technology > you need new original ideas (innovative) High performing companies gain extraordinary results from people working for them Interdependent, knowledge based > Depend on each other as a part of organization Study question 1 what are the challenges of working in the new economy > intellcutual capital people are the ultimate foundations of orgzanitional performances intellcutual capital is the collective brain power or shared knowledge of a workforce that can be used to create value A knowledge worker adds to Globalization . National boundaries of world business have largely dissappeared . globalizations is the worldwide interdependence of resource flows,product markets and business competition that characterisitv that characterize the new company Technology . Continuing transformation of the modern workplace throughout > the internet (having social network websites to market product) > worldwide web (exchange of stocks) > computers > information technology .Increasing demand for the knowledge workers with the skills to fully utilize technology Diversity: >workforce diversity reflects differences with respect to gender , age, race, ethnicity, religion,sexual orientation...
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... Young graduates are increasingly shouldering the adverse consequences of the lack of economic reforms and the growing inability of the state to create jobs. By initiating, mobilizing and galvanizing their own resources in the quest for improving their standard of living, graduates can avoid the precarious dependence on government for white-collar jobs. The paper highlights how integrating the concept of self reliance into Library and Information Science education can enhance the career opportunities of Library and Information Science graduates. The paper recommends the creation of the Young Entrepreneur Association to empower Library and Information Science students with practical hands-on training in printing, publishing, marketing and event management. INTRODUCTION Education is the systematic process of teaching and learning which deals with the presentation of facts, ideas, skills and techniques in order to guarantee the continued existence of man and his environment. The importance of education has...
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...The Role of Leaders in Innovation Bradley Lewis MBA6006 Capella University Table of Contents Introduction 1 Leadership practices that support innovation in organizations 1 Innovator’s DNA- Discovery skills 3 Innovator’s DNA- Delivery skills 4 Personal strengths and weaknesses in discovery and delivery skills 4 References 5 Introduction This paper will have four sections in which will explain how leadership practices support innovation in organizations, a section that analyzes the role of discovery skills for their support of innovation in organizations, a section that analyzes the role of delivery skills for their support of innovation in organizations, and finally a section that will analyze my own strengths and weaknesses in the discovery and delivery skills, and how they help or hinder your ability to support innovation in organizations. Leadership Practices that Support Innovation in Organizations An innovative leader is an individual that is capable of adapting to and combining different leadership styles in order to influence employees to produce creative ideas, services and products. Companies are in high demand for innovative leaders who can work effectively and responsibly within an organization as well as be capable of presenting new ideas (Lyons, 2011). It is the main goal of an innovative leader which involves the progress and success of a company or organization. According to Dyer, Gregersen and...
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...Integrating entrepreneurship and strategic management activities to gain wealth: CEOs' perspectives. Authors: Hagen, Abdalla Tootoonchi, Ahmad Hassan, Morsheda Pub Date: 01/01/2005 Publication: Name: Advances in Competitiveness Research Publisher: American Society for Competitiveness Audience: Academic; TradeFormat: Magazine/Journal Subject: Business; Business, general; Business, internationalCopyright: COPYRIGHT 2005 American Society for Competitiveness ISSN: 1077-0097 Issue: Date: Annual, 2005 Source Volume: 13 Source Issue: 1 Topic: Event Code: 200 Management dynamics Computer Subject: Company business management Geographic: Geographic Scope: United States Geographic Code: 1USA United States Accession Number: 138408287 Full Text: ABSTRACT This study explored means and ways that can help CEOs achieve wealth for their firms in the era of globalization. Using a sample of CEOs of MNCs, the findings of this study indicated that the majority of the CEOs agreed that many of the activities undertaken by organizations in an attempt to achieve wealth occur within six domains: Innovations, networks, internationalization, organizational learning, top management team and governance, and growth orientation. Critical challenges facing top management and the suggested recommendations were acknowledged by the participating CEOs. INTRODUCTION There is a general agreement regarding positive effects entrepreneurship has on firms' efforts for creating wealth (Lyon,...
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...each chapter. Concepts to cover when studying: 1. What is a Manager? a. Levels of Management b. Managerial Performance c. Upside-down Pyramid 2. What is Intellectual Capital? 3. What is Workforce Diversity and what are its components? 4. What is an Organization and how can it be considered an Open System? d. Public Organizations vs. Not-For-Profit Organizations 5. How do Efficiency and Effectiveness impact the productivity of an organization? 6. What are the organizational trends and transitions that are relevant to your study of management? 7. CREST! 8. Who are Stakeholders and why are they important to managers? 9. What is Competitive Advantage, how can it be achieved and why is it important? 10. What is Environmental Uncertainty and why do managers want to avoid this? 11. Organizational Effectiveness – what is this and what are the ways it can be viewed and analyzed? 12. What are the Four Functions of Management? (Hint: POLC) 13. What are the 10 Managerial Roles? 14. What are the 3 Essential Managerial Skills and why are they important? e. How does a manager develop Managerial Competencies? 15. What is Quantitative Analysis and why do managers need to be able to do this? 16. How can an Organization be considered a System? 17. Why do managers need to be well versed in Contingency Thinking? 18. What is Quality Management and how has this affected management...
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...with one another both within and among organizations. These advances offer powerful new tools for dealing with the pressures of the business environment as well as promising a framework for creating entirely new opportunities for organizing and managing work in firm of future. Few people foresaw the vast changes that would be brought by the invention of the steam engine and the host of other mechanical devices that were the technological driving force behind the Industrial Revolution. Yet these advances completely transformed the nature of work as many of the old ways of organizing and managing business died away and new concepts emerged. The network of crafts and small cottage industries that had dominated the production of goods for centuries gave way to large centralized factories, and the concept of mass production not only opened the door to new opportunities and unprecedented growth, but also reshaped the way we live, work, and play. Just as at the dawn of the Industrial Revolution, our society is at a crossroads. The choices we make in the next decade will play a major role in determining the broad shape of the world in which our...
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...low cost, demand, faster services and they also represent the main factors that had contributed in the success of Globalization. It has a positive side when all rules and regulations are being observed and a negative side when there is exploitation, contraband, low labor, maltreatment, political and cultural differences etc. That said I have been chosen to hire a new manager for the Scandinavian division and also to explain the process. It could be a long process for Management to find that person and know how to retain them at the same. In the following few lines I will demonstrate the most important skills and qualifications that a candidate must possess to be approved for an overseas assignments, the danger of doing business abroad and how to transmit the message to HR manager as well as the senior leadership team. Application of HR in the Global Environment What is Globalization and why is it being done by many companies globally? As describe from Wikipedia “The term Globalization (or globalization) refers to processed of international integration arising from the interchange of world view, product, idea, and other aspect of culture” (Wikipedia, 2006). Consumers are becoming very demanding and competition is not helping either, therefore, a business to quickly to provide her service or product at anytime, anywhere and anything. Because of technology consumers have become very educated and also everyone wants to buy and save as much because of the economy. “Thanks...
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...determination and merit. | The change of management was a release; the new national company was less racist in character, and welcomed the technological changes in the bakery | Welcomed most of all the retirements of the Greeks and the hiring of the polyglot workforce. Responsible for choosing most of the people on the shop floor. | Angry at how blindly the workers work; but the low level of solidarity and skill is not the workers’ fault. | Angry at the company for preferring non-union workers; if they were better paid, they would stay longer. | Angry at the company for using flextime schedules as a lure for low-wage work. | Wants all his people together on the shop floor, at the same time, to deal with problems together as best they can. E.g. the overflowing trash cans | | But the foreman stands alone. The people beneath him do not see themselves in the same clear way. | 1970’s Boston | 1990’s Boston | Owner | First owner: a very poor Jew/ an American entrepreneur without Italian roots | Sold to a medium-sized publicly traded organization/ a giant food conglomerate | Managers | Italian | With Italian surnames, the shop-floor foreman is black. | The Union | | Bakery jobs had passed from their fathers to themselves via the local union (prejudices) | The power of the bakers’ union has eroded | Rigidly structured wages, benefits...
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...Technology and the fast moving international world are making the HRM function in companies and businesses redundant. Is this true, or is HRM actually a key part of future business. Human Resource Management Technology and the fast moving international world are making the HRM function in companies and businesses redundant. Is this true, or is HRM actually a key part of future business. Human Resource Management Contents Introduction 2 PESTEL Analysis 3 The argument 4 Technology 4 Talent management 5 Globalization 6 7’s Model 8 Is Human Resource Management a key part of the future? 10 Conclusions 11 Authors comment 11 Refrences 12 Introduction Human resource management has no future! At least, in the way it has been performing in the past. Human resource management nowadays is not limited with the boarders of their clerical role. Nowadays, human resource management has to deal with such responsibilities as recruitment, training and benefits administration. To make this job easier we use technology to carry these amounts of information and to process them. Furthermore, IT has changed the way we communicate with the employee, how we train them and expanded the possibilities. Nonetheless, it creates a framework for us to deal with them when working with similar issues. In such an easy way, technology has changed the way Human Resource Management is structured. Undoubtable, there are cons as well- it has become harder to keep up with these changes...
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...determination and merit. | The change of management was a release; the new national company was less racist in character, and welcomed the technological changes in the bakery | Welcomed most of all the retirements of the Greeks and the hiring of the polyglot workforce. Responsible for choosing most of the people on the shop floor. | Angry at how blindly the workers work; but the low level of solidarity and skill is not the workers’ fault. | Angry at the company for preferring non-union workers; if they were better paid, they would stay longer. | Angry at the company for using flextime schedules as a lure for low-wage work. | Wants all his people together on the shop floor, at the same time, to deal with problems together as best they can. E.g. the overflowing trash cans | | But the foreman stands alone. The people beneath him do not see themselves in the same clear way. | 1970’s Boston | 1990’s Boston | Owner | First owner: a very poor Jew/ an American entrepreneur without Italian roots | Sold to a medium-sized publicly traded organization/ a giant food conglomerate | Managers | Italian | With Italian surnames, the shop-floor foreman is black. | The Union | | Bakery jobs had passed from their fathers to themselves via the local union (prejudices) | The power of the bakers’ union has eroded | Rigidly structured wages, benefits...
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...WORKING IN THE 21st CENTURY LECTURE 4 Career Theories KRUMBOLTZ’S THEORY • Krumboltz (1984, 1990, 1996) describe social learning theory* of career choice based on the behaviour theory of Bandura (1977) • Krumboltz identifies four factors interact to produce the career path: – Genetic endowment & special abilities; – Environmental conditions & events; – Learning experiences; and – Task approach skills. SEE PGS 53-58 OF TEXT * Described in text pg 55 KAMAL KANT, 2013 2 KAMAL KANT, 2013 3 GENETIC ENDOWMENT refers to innate aspects rather than those that are learnt. These include: •Physical appearance; •Race •Gender; •Intelligence; •Musical ability; •Artistic ability; •Muscular coordination; and •Predisposition to certain illness. LEARNING EXPERIENCES: •Instrumental learning experiences; •Associative learning experiences; TASK APPROACH SKILLS: •Goals setting; •Values clarification; •Generating alternatives; and •Obtaining career information ENVIRONMENTAL CONDITIONS refers to: •The number & nature of job opportunities; •The number & nature of training opportunities; •Social policies and procedures for selecting trainees and employees; •Rate of return for various occupations; •Labour laws and union rules; •Physical events (e.g. hurricanes; earthquakes, etc); •Availability of and demand for natural resources; •Technological development; •Changes in social organisation; •Family training, experiences and resources; •Educational systems; •Neighbourhood and...
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... Abstract This paper analyzes Southwest Airlines Case Study. Southwest Airlines was originally incorporated to serve three cities in Texas as Air Southwest on March 15, 1967, by Rollin King and Herb Kelleher. Leadership at Southwest Airlines plays a paramount role in the success of the company. Before its role is discussed in detail though, a definition of leadership will provide a foundation for the rest of this analysis. The paper explains the Southwest Airlines company history, background of the company, the role of leadership at Southwest Airlines, how culture is displayed at the company, competitive dimensions, leadership practices of CEO, recasting the role of the CEO, and 21st century entrepreneurial leader. Keywords: 21st century entrepreneurial leader, Southwest Airlines, Leadership, CEO Company History Southwest Airlines was originally incorporated to serve three cities in Texas as Air Southwest on March 15, 1967, by Rollin King and Herb Kelleher. According to frequently-cited story, King described the concept to Kelleher over dinner by drawing on a paper napkin a triangle symbolizing the routes (Dallas, Houston, and San Antonio). Some of the incumbent airlines of the time (Braniff, Aloha Airlines, United Airlines, Trans-Texas, and Continental Airlines) initiated legal action, and thus began a three-year legal battle to keep Air Southwest on the ground. Air Southwest eventually...
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