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S. That said, the country's long history of immigrant entrepreneurialism, however tenuous the notion might be today, has left a cultural legacy as evidenced by the relatively high entrepreneurship index score given to the U.S.
There are other structural factors as well. In Europe in general, there are a myriad of impediments to entrepreneurialism, including legal barriers, a consumer sector that is unventuresome about new products, stronger unions and higher levels of state intervention in the marketplace (Phelps, 2007). Phelps also outlines several cultural factors as well, such as the desire amongst workers for responsibility, interesting work or the chance to take initiative. The United States scores much higher in these metrics than does Germany. He frames these as differences in economic dynamism.
There is a correlation between the level of entrepreneurship and the level of economic growth (Aernoudt, 2007). Aernoudt's findings imply that European SMEs do not have an…
No author. 2006. Entrepreneurship in Germany. [Online] Available at http://www.internationalentrepreneurship.com/european%2Bentrepreneurship/germany_entrepreneur.asp?countryid=21&contid=4
Grieco, Elizabeth. 2006. Defining Foreign-Born and Foreigner in International Migration Statistics. Migration Policy Institute. [Online] Available at http://www.migrationinformation.org/Feature/display.cfm?ID=34
Camarota, Steven a. 2000. Reconsidering Immigrant Entrepreneurship. Center for Immigrant Studies. [Online] Available at http://www.cis.org/articles/1999/self-employment/index.html
Phelps, Edmund S. 2007. Entrepreneurial Culture: Why European Economies Lag Behind the U.S. Wall Street Journal. [Online] Available at http://www.opinionjournal.com/editorial/feature.html?id=110009657
Entrepreneurship: Business Growth
Business Growth: Entrepreneurship
Growth is crucial for any business venture. An organization that does not prepare effectively for growth risks falling behind its competitors. In order to execute growth effectively, an organization needs to put in place a growth plan. This text examines the importance of a growth plan, its core components, and the specific strategies that an organization could use to realize growth.
Entrepreneurship: Business Growth
hat is a growth plan?
Every entrepreneur with a successful venture will often take time to sit down and speculate about the future of their business. A growth plan is a roadmap detailing the specific strategies that an entrepreneur plans to use to take their business to the next level in a smart and disciplined way. It is meant to guide entrepreneurs and reduce their risk as they grow their business. A growth plan basically includes three core components: i)…
Biederman, Rob. "7 Key Steps to a Growth Strategy that Works Immediately." The Entrepreneur Magazine, 2015. Web. Accessed at http://www.entrepreneur.com/article/240853
Gwin, Catherine. Sharing Knowledge: Innovations and Remaining Challenges. Washington, D.C: World Bank Publications, 2003. Print.
Schill, Nancy. Coach-in-Box Goal-setting Workbook: Target and Achieve your Goal at Work. Austin, TX: ExecIntel Solutions, 2014. Print.
Smith, Janet, Smith Lester, Smith Richard, and Bliss Richard. Entrepreneurial Finance: Strategy, Valuation and Deal Structure. Stanford, CA: Stanford University Press, 2011. Print.
This is critical, because a magazine is like any venture, it requires sufficient amounts of due diligence prior to opening. You must then, be sure that you have the right audience identified. Otherwise, you could be facing a situation, where you could be taking to general or to narrow of a focus (causing you not see a profitable return). Regardless of the type of magazine that is being published, this is the standard that is necessary to ensure long-term survival of the publication. This is significant because, understanding this weakness about any possible risks will ensure that nothing is overlooked. As a result, once the magazine is published it will be focused and capable of generating a unique following.
Clearly, the publishing of an AIDS/HIV magazine can be effective at promoting those issues that are most important to this group of the population. However, like all business ventures, magazine publishing…
Magazine Publishing. (2010). Retrieved March 11, 2010 from NAICS website:
What can also be seen from this analysis is that the value chain of the heavy equipment industry in general and construction, farm machinery and heavy truck manufacturing specifically rely on distribution channels to sell to contractors (Byrne, Lubowe, Blitz, 2007).
Distribution Channel ecommendations
The sales cycles in our region are particularly long and often require several different sources of financing for any contractor or agency to acquire heavy equipment for projects. As a result the role of distribution channels has become especially significant given the need for shared risk in the financing of the equipment and shared ownership as well in the form of lease-back arrangements. To create a more differentiated distribution strategy it is crticvally important to give empowerment in the form of advanced credit terms of heavy equipment to distributors and dealers. This approach of the manufacturer in effect becoming the financing partner with the reseller to…
Brown, James R, Lusch, Robert F, Nicholson, Carolyn Y. (1995). Power and relationship commitment: Their impact on marketing channel member performance. Journal of Retailing, 71(4), 363
Data Monitor (2009) Construction & Farm Machinery & Heavy Trucks Industry Profile: Global. (2009, March). Construction & Farm Machinery & Heavy Trucks Industry Profile: Global DataMonitor, London, UK.
Shah, R.K.D. (1989). Strategic Planning for Power Equipment Manufacture. Long-Range Planning, 22(5), 98
David Walters, Mark Rainbird. (2007). Cooperative innovation: a value chain approach. Journal of Enterprise Information Management, 20(5), 595-607.
In general, it has seen significant changes to the infrastructure of entrepreneurship because there is now no longer a need for strong physical organizational structures or spaces. Albert Lin, of the American Technology Research Institute explains that in 2007, over 300,000 entrepreneurs will use Skype as the primary means of business communication. The freedom of mobility therefore, is one of the biggest advantages for entrepreneurial competency within the past decade.
The second area of communication change has been the increased speed, efficiency and cost effectiveness of data transfer. The telecommunication industry has spent as much as 580 billion dollars within the past decade in connecting the world via fiber optic technology. As a result, the entire world is now digitized and can send and receive information at a much faster pace than in past generations. The implication for entrepreneurs is the greater freedom provided through data transfers, this new medium…
Drucker, P. Innovation and Entrepreneurship. Butterworth Heinemann, 1994.
Reinhardt, Forest. Down to Earth. Harvard Business School Press, 2000.
Timmons, Jeffrey a. New Venture Creation. 6th edition. McGraw Hill, 2003.
Not only is it a niche product but as there is a stigma associated with the disease, asking people to buy the magazine at a grocery store or newsstand may result in people who want the magazine not wishing to do so in such a public setting. With a mail order business model, marketing would need to be aggressive. Publishing costs would be around $5 per issue (at least $2 for writing/editing alone); mailing costs $1 and the allocated fixed costs to each issue around $0.50. This requires the company to earn a minimum of $6.50 per issue at 15,000 just to break even. A cost of over $7 would be difficult to manage, as that is a point where price sensitivity increases for magazines. Revenue from sales under this scenario would be $105,000. Ad rates for 15,000 targeted consumers could be potentially decent -- around $25,000 per issue --…
entrepreneurship ? How badly owner business? Why? Why ? Why time?
Is entrepreneurship for me? How badly do you want to be an owner of your own business?
Why? Why not? Why not at this time?
An entrepreneur gets to create his or her own enterprise from the ground up. He or she gets to set the rules and policies of the company, rather than has to follow them like a company employee. If the business succeeds or fails, it is largely on the founder's shoulders. The entrepreneur gets to select a business model he or she feels passionately about, rather than simply 'punch a clock' to get a paycheck. While there is the unfortunate potential for great losses if the business fails (and many do) there is also the potential for great rewards, if the business is a success.
An entrepreneur must be creative -- first to frame the…
trait theories of entrepreneurship, we can gain a better understanding of the differences between entrepreneurship and other economic forms. Key to this understanding is examining the traits of serial entrepreneurs to see how they approach the issue of risk.
When human civilization first development, most goods were produced at a subsistence level, and this was the sum total economic activity -- there was no money and no profit. Over time, advances in production techniques, especially in agriculture gave rise to surpluses, which could then be traded. The barter of agricultural surplus in ancient communities can be said to be the first entrepreneurism (Allis, 2014). More formal entrepreneurism of the type that we would recognize today, featuring the investment of capital in a small enterprise designed specifically to earn profit, would have emerged as people collected into village and towns, allowing for specialization into trades. These trades would have produced above…
Allis, R. (2014). The history of entrepreneurship. The Startup Guide. Retrieved April 26, 2014 from http://startupguide.com/world/the-history-of-entrepreneurship/
Fairlie, R. & Holleran, W. (2012). Entrepreneurship training, risk aversion and other personality traits: Evidence from a random experiment. Journal of Economic Psychology. Vol. 33 (2) 366-378.
Wright, M., Robbie, K. & Ennew, C. (1997). Serial entrepreneurs. British Journal of Management. Vol. 8 (1997) 251-268.
Wright, M., Robbie, K. & Ennew, C. (1997, 2) Venture capitalists and serial entrepreneurs. Journal of Business Venturing. Vol. 12 (3) 227-249.
Gartner, on the other hand, appears to focus on his own personal and wide-spread generalizations about the personalities of people from different countries.
Worst of all, some of Gartner's beliefs are easily proved wrong. For instance, consider his rhyme:
And isn't it an irony,
That entrepreneur is "French" in its entirety?
To talk about entrepreneurship will always be,
An inherently French idea as the field's reality."
One would think that the French embody entrepreneurship after reading Gartner.
The reality is just the opposite. From an international perspective the 8.5% rate of entrepreneurship in France is very low: the business ownership rates in Italy, the United Kingdom, the Netherlands and the United States are substantially higher: 10.9, 10.3, 10.4 and 18.2%, respectively (EIM, 2000).
For whatever reasons, Gartner aims his criticism at Americans when the United States is one of the world's leaders in entrepreneurship. To say that Americans lack soul…
Gartner, W.B. (2008, March) Entrepreneurship-Hop. Baylor University.
EIM, 2000, COMParative entrepreneurship data for international analysis (COMPENDIA 2000.1), Zoetermeer: EIM Business and Policy Research.
Zahra, S.A. (2002, June 22). Entrepreneurship: Theory and practice. Retrieved at http://www.allbusiness.com/management/278966-1.html
The harvest / exit strategy would be to: increase the overall profits as much as possible. Then, once the various products / services have increased in value you would sell these assets. The lifetime of such a venture would normally last for 10 to 20 years.
Magazine Publishing Exploiting HIV / AIDS
As far as a magazine is concerned, the opportunity costs would be a chance to reach and educate the public about the issue. The concept is: to effectively target these ideas towards anyone who is suffering from the virus and their family members. These groups would more than likely be interested in hearing the various ideas presented in the magazine. As far as the different resources are concerned, it is imperative that you identify: key advertisers, how distribution will take place, a publication schedule and various writers / editors that could be utilized. Implementation / growth will depend…
Thomas, K. (2008, January 25). Start Up Magazine Publishing Costs. Retrieved March 12, 2010 from: Suit 101
Introduction to the Entrepreneurial Opportunity
My entrepreneurial idea combines two major trends in business today – inbound marketing and artificial intelligence. This section will highlight literature to support these themes as providing opportunity for entrepreneurial activity. First, inbound marketing in its current form evolved roughly with Google's Panda update, as this changed how the search giant's bots evaluated website. Prior to this update, search rewarded sites for activities like keyword stuffing, excessive internal links, and the change placed emphasis on information architecture, and creating quality content. This change heralded a new era of inbound marketing (Wainwright, 2011). Companies could no longer fake their way to the top of Google's listings; now they were rewarded for the richness of their content. This unleashed a wave of trends in marketing, including now every company needs to have blogs that contain not only material about the company and its products, but company sites…
Bernazzani, S. (2017). AI in marketing: 10 early use cases. Hubspot. Retrieved March 7, 2016 from https://blog.hubspot.com/marketing/ai-marketing-use-cases
Law, R. (2017). 21 inbound marketing tools you\\'ll fall in love with. CoBloom. Retrieved March 7, 2018 from https://www.cobloom.com/blog/inbound-marketing-tools#
Mak, S. (2014). How does Google Panda help marketing? iSmart. Retrieved March 7, 2018 from https://www.ismartcom.com/blog/how-does-google-panda-help-inbound-marketing
Wainwright, C. (2011). Everything marketers need to know about Google\\'s Panda updates. Hubspot. Retrieved March 7, 2018 from https://blog.hubspot.com/blog/tabid/6307/bid/28763/everything-marketers-need-to-know-about-google-s-panda-updates.aspx
Velli, E. (2017) How AI is disrupting the inbound marketing space. New Breed. Retrieved March 7, 2018 from https://www.newbreedmarketing.com/blog/how-ai-is-disrupting-the-inbound-marketing-space
The Effectiveness of the Current Entrepreneurship Training Programs in the Gulf Cooperation Council Educational Institutions
Today, the six member-states of the Gulf Cooperation Council (GCC), Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain, and Oman, are all faced with the need to improve the effectiveness of their respective entrepreneurship training programs (ETPs) in order to help young practitioners create new businesses, diversify and grow their economies. This need is especially pronounced at present given the alarming estimates concerning the looming peak oil milestone and the harsh reality that even enormous fossil fuel reserves will eventually be exhausted. Furthermore, the international marketplace is changing in fundamental ways, and countries that are able to field a generational cohort of talented and trained entrepreneurs will invariable gain and sustain a competitive advantage over those that do not. Therefore, against this backdrop, studies such as this one can help identify opportunities for…
Bauer, K (2011, January 1). ‘Training Women for Success: An Evaluation of Entrepreneurship Training Programs in Vermont, USA.’ Journal of Entrepreneurship Education, Vol. 14, pp. 1-4.
Carlile, L (2017, May). ‘CTE and Entrepreneurship.’ Techniques, Vol. 92, No. 5, p. 6.
‘CIA World Factbook.’ (20187). U.S. Central Intelligence Agency. [online] available: ‘https://www.cia.gov/library/publications/the-world-factbook/geos/mu.html
Daniel, TA and Kent, CA (2009, Spring). ‘An Assessment of Youth Entrepreneurship Programs in the United States.’ Journal of Private Enterprise, Vol. 20, No. 2, pp. 125-130.
DiMaria, F (2014, March 24). ‘Entrepreneurship Education Helps Community College Students Create Their Own Jobs.’ The Hispanic Outlook in Higher Education, Vol. 24, No. 12, pp. 22-25.
Ekpe, I and Razak, C (2016, July 1). ‘Entrepreneurial Skill Acquisition, Psycho-Social Factors and Youth\\'s Self-Employment in Malaysia.’ Journal of Entrepreneurship Education, Vol. 19, No. 2, pp. 78-82.
‘Gulf Cooperation Council’ (2018). The World Bank. [online] available: http://www.worldbank. org/en/country/gcc.
Laud, R and Betts, S (2015, July 1). ‘The Business Concept Competition as a Business Plan Alternative for New and Growing Entrepreneurship Programs: What\\'s the Big Idea?’ Journal of Entrepreneurship Education, Vol. 18, No. 2, pp. 53-57.
Finding ways to delegate authority is an important thing for entrepreneurs when they grow. hen a company is in the beginning or high growth stage of the business cycle, there comes a point when the founder must let go some control so that the business can be more professionally run.
The current business model is somewhat aimless, but oriented towards high end positioning. An alternate direction is that the business can focus on becoming a volume supplier. The designer is capable of having a mainstream touch, and Turkey is a great place to follow a high-volume, low-margin business model for export. This would leverage the low cost of production and the effort that the government puts into creating export opportunities. At this point, as an unknown brand, he still has the capability to go in that direction.
CIA orld Factbook. (2013). Turkey. Central Intelligence Agency. Retrieved April 29,…
CIA World Factbook. (2013). Turkey. Central Intelligence Agency. Retrieved April 29, 2013 from https://www.cia.gov/library/publications/the-world-factbook/geos/tu.html
ITKIB. (2010). Turkish textile industry. stanbul Tekstil ve Konfeksiyon "hracatc" Birlikleri Retrieved April 29, 2013 from http://www.itkib.org.tr/english/about/sectors/textile/textile_info.pdf
Saba, G. (2013). Global marketing -- Turkish textile industry and its competition power. Ege University. Retrieved April 29, 2013 from http://www.slideshare.net/GamzeSaba/global-marketing-turkish-textile-industry-and-its-competition-power
The project is a website that compiles videos, tips, articles and other content. The site is aimed at an audience interested in a healthier lifestyle. The way of monetizing the site will be to sell advertising to health clubs, fitness professionals and others that cater to the same target market. This report will analyze this idea to test for feasibility and identify key challenges that could be present. There will be recommendations as well with respect to the future of this website.
There are several challenges that this website can be expected to face. The first is with respect to the idea of being a content aggregator. This is not 1997. Content is not free. Thus, the first hurdle that we will face with this idea is acquiring content. Most high-traffic content sites have established brands and they also have identified means of acquiring content. If we are…
Perner, L. (2008). Internet marketing. Consumer Psychologist. Retrieved May 24, 2013 from http://www.consumerpsychologist.com/intro_Internet_Marketing.html
O'Reilly, T. (2005). What is web 2.0. Oreilly.com. Retrieved May 24, 2013 from http://oreilly.com/web2/archive/what-is-web-20.html
Entrepreneur-Why investor would give me capital to start a decorating den?
With the spiraling demand for housing, the demand for interior decoration market is also rising in tandem. Concern regarding making the home interiors beautiful and plush is high on the wish list of many home-buyers. Modern and aware customers who view popular channels on TV dedicated to interiors and subscribe to the magazines flooding the market are valuing the quality of interior decorating in an increasing manner than ever before. ising on this demand for interiors among the people is a great opportunity to take up the Franchise offer of Decorating Den. It is an investment in the future compared to other franchise offered in the market and a completely new way of life. (Opportunities in a New Economy - Message from the President)
Convincing the Venture Capitalist for guaranteed profitability:
By taking up the franchise, owners of Interiors…
"A Beautiful Business" Retrieved from http://www.decoratingden.com/Bbusiness.shtml Accessed on 17 February, 2005
"Interior Views: Sample Plan" Retrieved from http://www.paloalto.com/sampleplans/MPP6/enu/Live/InteriorViews-mpp_Live.pdf
Accessed on 17 February, 2005
"Is the Business for you" Retrieved from http://www.decoratingden.com/foryou.shtml Accessed on 17 February 2005
Trends in globalism, stakeholder knowledge and technology -- all part of the 21st century environment, have changed marketing from a more monolithic approach to the market to a model that has actually been in place for centuries yet has now found a way to move from the small business environment to the larger organizational model simply because its strengths are just what is needed to perform in a new environment. This concept, entrepreneurship, has its origins in the French verb entreprendre, meaning "to undertake" (Hultman, C., et al., 2011). In a sense, every organizational idea starts with a core idea and thus has some entrepreneurial tendencies. These ideas have a core relationship in that they require innovation and risk in order to come to fruition (economic gain). More than anything else, the idea of entrepreneurship is a mind-set, a mode of operating as opposed to a strict method; a…
Audretsch, D. (2007). The Entrepreneurial Society. New York: Oxford University Press.
Foreman-Peck, J., & Zhou, P. (2010, August). The Strength and Persistence of Entrepreneurial Cultures. Retrieved from Cardiff Business School: http://business.cardiff.ac.uk/research/academic-sections/economics/working-papers
Frazier, L., & Madjidi, F. (2011). ICT and Social Entrepreneurship. Research in Information Technology, 8(2), 3-10.
How to Start a Cigar Lounge. (2012). EHow.com. Retrieved from:
The Kirznerian Entrepreneur vs. The Schumpeterian Entrepreneur
The following brief essay will discuss two kinds of entrepreneurs, as evidenced in the title above. These two kinds of entrepreneurs, Kirznerian and Schumpeterian, will be theoretically and practically espoused, in order to see which of the two is more common in business life. The essay will also speak as to which type of entrepreneur is more important in today's business world, thereby linking theory and practicality prior to concluding.
First, it is important to define each entrepreneurial theory. The Kirznerian Entrepreneur, for instance, derives from economist Israel Kirzner's theory. Kirzner utilizes an analogy between what he names "the entrepreneurial element in individual decision -- making" and "entrepreneurship in the market interaction." (Kirzner, 1967) According to the economist, a first step in establishing the roots of the theory is to discuss an individual's 'action.' Kirzner thus isolates the first step of the…
Kirzner, Israel.(1967) "Methodological Individualism, Market Equilibrium, and Market Process."
Il Politico. 32: 787-799.
Schumpeter, Joseph A. The Theory of Economic Development. 1911. Cambridge: Harvard University Press, 1934. Information about Schumpeter and his works can be found online at: http://cepa.newschool.edu/het/profiles/schump.htm.
I think this type of financial management plan must depend on very long-term investment solutions and options, and that it is not something to enter lightly or without the proper capital and time. With the downturn in housing, many of these homes will be difficult if not impossible to sell right now, because the average middle-America family who are the market for these homes cannot afford them without the sub-prime lenders who have already done so much damage to the housing market. That means these homes will have to continue to be rentals, and that eats up more administrative and repair costs. Thus, from a financial management standpoint, this seems like a good program, but only if the company is capitalized enough to weather the lending storm that is hitting right now, and is poised to make their investments last over time, rather than pay…
Recently, entrepreneurship has been seen to be one of the key driving forces for economic development and growth since it is able to provide literally millions of opportunities for jobs. It also helps to offer a large variety of goods and services to consumers and in general helps to increase the prosperity and competitiveness in a nation (Stanworth, lythe, Granger, & Stanworth, 1989). However, there is also a lot of debate on the technical knowledge transfer that takes place from universities to industries and on how these universities can continue to support the economic and technological development of countries.
It is very important to look at how significant this spinoff issue actually is to those in the United States and in Europe (Roberts, 1991). This is necessary because spinoffs seem to be growing at a rapid rate and entrepreneurship is getting extremely lucrative in many areas of the country (Roberts,…
Bird Schoonhoven, C., Eisenhardt, K.M., & Lyman, K. (1990). Speeding product to market: waiting time to first product introductions in new firms. ASQ, 35, 177-207.
Chrisman, J.J., Hynes, T., & Fraser, S. (1995). Faculty entrepreneurship and economic development: the case of the University of Calgary. Journal of Business Venturing, 10(4): 267-281.
Clarysse, B., Degroof, J.J., & Heirman, a. (2001). Analysis of the typical growth path of technology-based companies in life sciences and information technology, and the role of different sources of innovation financing. Brussels: European Commission, Entreprise Directorate-General.
Collinson, S. & Gregson, G. (2003). Knowledge networks for new technology-based firms: an international comparison of local entrepreneurship promotion. R & D. Management, 33(2): 189-208.
Through exceptional focus, entrepreneurs are able to transform concepts into companies, yet it takes effort on their part to relinquish control to professional managements.
Cons of being an Entrepreneur
The greatest draw-back of being an entrepreneur are the personal and professional risks to financial stability and reputation if the new venture does not succeed, and the lost time invested in the venture if it fails. These are all lost opportunity costs that an entrepreneur could have invested in other, potentially more profitable and successful ventures. Even successful entrepreneurs struggle with staying focused despite the intense pressure to succeed and long hours needed to get a business into a financially viable condition to run smoothly. There are more sacrifices required of entrepreneurs today than ever before as globalization is forcing many of them to travel across multiple continents every given month to get their companies up and running. These trips include…
Katrin Burmeister, Christian Schade. "Are entrepreneurs' decisions more biased? An experimental investigation of the susceptibility to status quo bias. " Journal of Business Venturing 22.3 (2007): 340. ABI/INFORM Global. ProQuest. 21 Apr. 2008
Jim Olsztynski. "The pros & cons of going into business for yourself-part 1. " National Driller 1 May 2003: 18. ABI/INFORM Trade & Industry. ProQuest. 20 Apr. 2008
Rose Trevelyan. "Optimal optimism. " Business Strategy Review 18.3 (2007): 18-22. ABI/INFORM Global. ProQuest. 22 Apr. 2008
Noam Wasserman. "The founder's DILEMMA. " Harvard Business Review 86.2 (2008): 102-19. ABI/INFORM Global. ProQuest 22 Apr. 2008.
Even poor De Beers seems flummoxed. (Twitchell, 2002, p. xv)
Some consider this trend, of luxury for the every day buyer a negative trend as non-luxury brands claim luxury status and luxury brands like Prada are pressured to provide their products for a lower scale market, yet the trend is essential to international and national creative industries development.
In fact one trend in international creative industries is a system nicknamed "grey marketing" where goods and services are sold outside the traditional contracts and supply systems but are not sold illegally, such as is the caser of black marketed items. In other words industries, such as the fashion industry are populated by organizations that are willing to make alternative contractual agreements with companies that might sell their "labels" for lesser prices, such as in the case of overstock or in some cases even exclusive sales of products that might require less…
Bennett, D. (2007). Creative Artists or Cultural Practitioners? Holistic Practice in Australia's Cultural Industries. Journal of Australian Studies, (90), 133+. Retrieved March 23, 2009, from Questia database: http://www.questia.com/PM.qst?a=o&d=5023042807 www.questiaschool.com/PM.qst?a=o&d=5011610188
Britain Urged to Power on to Lead in Creative Industries. (2005, December 2). Western Mail (Cardiff, Wales), p. 35. Retrieved March 23, 2009, from Questia database: http://www.questia.com/PM.qst?a=o&d=5011610188 www.questiaschool.com/PM.qst?a=o&d=5024995608
Brown, C.M., Carbon, H.B., Brown, T., Donaldson, S.A., Holmes, T.E., Hughes, a., et al. (2007, December). Hotlist 07: These Bold Innovators-All under the Age of 40-Are Shaping Our World. Black Enterprise, 38, 120+. Retrieved March 23, 2009, from Questia database: http://www.questia.com/PM.qst?a=o&d=5024995608 www.questiaschool.com/PM.qst?a=o&d=5021427294
Chance, J. (2007, July). On Target: As the Latest Designer to Join the Big-Box Store Fold, Fashion Designer Patrick Robinson Is Serving Up Hot Looks for Summer at Real Cool Prices. Ebony, 62, 192+. Retrieved March 23, 2009, from Questia database: http://www.questia.com/PM.qst?a=o&d=5021427294 www.questiaschool.com/PM.qst?a=o&d=112841714
Schramm cites clothing as an example, but there are thousands of good examples. As companies had the ability to reach larger markets, they could invest more into their businesses. The result of those investments was a dramatic increase in the variety of goods available to the public, many of which contribute to better lives, if not longer. Advances in scale, Schramm notes, have resulted in the real cost of staple products being significantly lower today. He cites the Federal Reserve Bank of Dallas: "In 1919, an American had to work 10 hours to afford a basket of 12 food items. By 1997, the work time required to purchase their food basket had fallen to two hours."
Schramm mentions at this point that there have been other contributions, in both science and in the development of public service to protect things like water supply, that have also contributed to increased health…
Schramm, C. (2010). All entrepreneurship is social. Stanford Social Innovation Review. Retrieved May 3, 2013 from http://www.ssireview.org/articles/entry/1571
Perfect manager for all stages of growth is difficult to find in just one person, but there are examples. During the initial stages, the manager needs to be visionary. This is often the entrepreneurial stage, where an idea is just being articulated, and the manager needs to first coalesce the business plan for the product/service idea, and then get a team of people to buy into the idea on top of that. Entrepreneurial leaders are often visionaries, and this is their key strength (Lewis, 2014). They are often risk-takers as well. But the key to the success of an entrepreneur is to have a great idea, get the buy-in from others, and then begin to professionalize the operation.
The next stage of a business is the growth cycle. At this point, the operation is probably focused on building markets and on scaling up the business. Flamholtz and andle (2007) note…
Flamholtz, E. & Randle, Y. (2007). Growing pains: Transitioning from an entrepreneurship to a professionally managed firm. John Wiley & Sons.
Lewis, J. (2014). Traits of an entrepreneur vs. manager. Houston Chronicle. Retrieved May 31, 2014 from http://smallbusiness.chron.com/traits-entrepreneur-vs.-manager-38558.html
Magenta, G. (2014). The secret to becoming a better manager. Entrepreneur Magazine. Retrieved May 31, 2014 from http://www.entrepreneur.com/article/231798
oday, the Gold Coast is a thriving tourist city located in an advantageous geographic position that can be reasonably expected to contribute to its future growth. herefore, identifying opportunities to provide value-added services to existing successful businesses in this region represents a valuable and timely enterprise for entrepreneurs seeking a niche in this multicultural market. his study examines the feasibility of forging a long-term partnership with a Middle Eastern-themed restaurant by providing belly dancer, karaoke, and home delivery services for this and other similarly situated restaurants in the future based on this business model. he principals have extensive experience in the provision or the coordination of the provision of these services as well as a comprehensive knowledge of the targeted geographic market. Salient factors that should be taken into account, primary research in the form of a structured interview with the restaurant…
The results of a 1996 marketing survey for Robina Shopping Town in Surfers Paradise found that on a given day, there is an average of 83,000 tourists on the Gold Coast (approximately one quarter of the population of 340,000 residents); in 1996 tourists spent $A1.37 billion on the Gold Coast, whereas residents spent $A1.86 billion (Holmes, 2001, p. 189).
There is widespread agreement among patrons of Middle East-themed establishments that belly dancers and hookahs enhance the venue (Peterson, 2008).
Although the major source of international tourists to the Gold Coast remains Japan, a growing number of tourists from the Middle East are visiting the region as well (Jafari, 2000).In fact, the Gold Coast is the third-most popular destination in Australia, following only the major cities of Sydney and Melbourne (Jafari, 2000).
The company selected is Dar Almanthour for Fragrance. The company was established in the year 2000 by the owner, Mr. Therar AlTararwa. The key products retailed by the company comprise of Bakhour, perfumes, scents, perfume oil and designed boxes for formal events. It started off with his friend at work wanting to sell his own made up fragrance and offered Mr. Therar AlTararwa to sell these fragrances to his family and when he did Mr. Al Tararwa saw an opportunity that selling these fragrances made money and so he wanted to get in the game he bought dozens of fragrances from his friend and made a guy sell them and he had his percentage of the sales. So then and there, Mr. Al Tararwa saw an opportunity and offered his friend money to sell him the mixture ingredients of the fragrance so he can open up a fragrance…
Entrepreneurship: Nurse-Owned Clinics and Beyond Mobile FNP (Family Nurse Practitioners)
There are over 125,000 NPs (nurse practitioners) in the U.S., as per estimates of the AANP (American Academy of NPs). Compared to physician assistants, NPs enjoy greater autonomy and responsibility, and have been increasingly assuming roles in administrative leadership, aside from their conventional patient-care duties at clinics and hospitals. However, owing to the thorough knowledge required to succeed within private practice settings, NPs often establish independent practices after many years of experience at healthcare centers such as hospitals, in the role of salaried NPs (Furlow, 2011).
According to the Chief Executive of the NNCC (National Nursing Centers Consortium), Tine Hansen-Turton, a substantial growth has been observed in nurse-run health clinics, before as well as subsequent to the implementation of the ACA (Affordable Care Act). She claims the number of nurse-run clinics across the nation has now grown to five-hundred; this…
Aiken, L.H. & Sage, W.M. (1992). Staffing national health care reform: a role for advanced practice nurses. Akron Law Review, 26. Retrieved from https://www.uakron.edu/dotAsset/3ed241d2-f4fa-4afe-aca6-deacf419abcb.pdf
Fraino, J.A. (2015). Mobile nurse practitioner: A pilot program to address service gaps experienced by homeless individuals. Journal of Psychosocial Nursing, 53. Retrieved from http://repository.usfca.edu/cgi/viewcontent.cgi?article=1000&context=health_stu
Furlow, B. (2011, May 30). Business advice for nurse practitioners considering private practice. Clinical Advisor. Retrieved from http://www.clinicaladvisor.com/your-career/business - advice-for-nurse-practitioners-considering-private-practice/article/203953/
Helseth, C. (2010, May 7). Advanced practice nurses fill health care gaps in rural areas. Rural Health Information Hub. Retrieved from https://www.ruralhealthinfo.org/rural- monitor/advanced-practice-nurses-fill-gaps/
Entrepreneurship is a risky business and requires a certain type of personality to really succeed at this lifestyle. Every and any business or idea will certainly end when the time is right and it is important for those wishing to exploit profits when to get out of the business. The purpose of this essay is to explore the options that entrepreneurs and investors have to recoup their investments and continue on to the next stage in life. This essay will explore exit strategy options and the considerations that must be taken into account before performing these actions. Ultimately this essay will describe how exiting a business venture is just as important as any other component of the process.
Why Get Out?
There are many reasons why anyone would want to change something up in their lives, but when it comes to venture capitalism it is important to understand…
Anonymous. (2006, July 24). For Small-Biz Owners, It's Tough To Let Go. Business Week, 3994. Retrieved from http://www.businessweek.com/magazine/content/06_30/b3994407.htm .
Burrows, P. (2010, February 15). Hot tech companies like Yelp are bypassing IPOs. Business Week Online, 4166, 23. Retrieved from http://www.businessweek.com/magazine/content/10_07/b4166023271880.htm?chan=ma gazine+channel_new+business.
Faust, D. (2008, May 26). The perils of going public. Business Week, 085. Retrieved from http://www.businessweek.com/magazine/content/08_21/b4085064750402.htm .
MacMillan, D. & Burrows, P. (2009, November 2). The app economy. Business Week, 4153. Retrieved from http://www.businessweek.com/magazine/content/09_44/b4153044881892.htm .
Defining What Entrepreneurship Is
Entrepreneurship is the ability of an individual or team to plan and produce differentiated, valuable products and services that customers are willing to buy. The study of entrepreneurism concentrates on the highly collaborative nature of starting a new firm, where founders will often create extended, virtual teams of experts to help them take a concept into initial prototype and then production. Studies of entrepreneurs show them to have an above-average level of risk tolerance while at the same time being able to manage diverse tasks necessary to make a new venture successful (Liu, 2006).
Analysis of Entrepreneurship
The most effective entrepreneurs are able to see market opportunities from an entirely different vantage point, seeing the potential for growth and differentiated products and services while other business leaders see only price competition (Mitra, 2003). This is especially the case with Steve Jobs and other leading…
Liu, Z. (2006). Competitive advantage: An analytical framework based on entrepreneurship. Frontiers of Economics in China, 1(2), 182-195.
Mitra, J. (2003). The entrepreneurship dynamic: Origins of entrepreneurship and the evolution of industries. Journal of Small Business and Enterprise Development, 10(2), 210.
The more knowledge of a market an entrepreneur has the better. This includes the litigious side of the market. When an entrepreneur sets up a business, even employing the proper employee dynamics, financial decisions and logistical moves, legal issues can doom the entire operation. Entrepreneurs can avoid much of this type of risk by fully understanding their business, and by having prior experience with the product or industry. It is important to understand as well that overseas markets are not the same as domestic ones, and many issues are likely to arise out of unique and different legal environments, exclusive to overseas markets and products. Entrepreneurship is a veritable minefield when it comes to risks. These risks are inherent, and without them there would not be the same kinds of satisfaction and payoff that occurs with them intact. When entrepreneurs are made fully aware of these risks and how to…
Entrepreneurs Should Know bout Federal Taxes for Corporations
ll corporations are subject to the corporate income tax on their net income. Taxable income is the gross income of the corporation, less the deductions allowed. Major sources of corporate income include: gross profits from sales; dividends received; interest; rents; royalties; and gains and losses. Still, there can be other factors that must also be considered in determining the corporation's income. There include: receipts that are actually contributions to capital; property distributions received by the corporation; rentals paid to shareholders of a leasing corporation; and income from a sinking fund.
Each business's tax liability is based on a graduated tax rate scale. Depending on individual factors, a corporation may also be subject to penalty taxes in addition to their regular income tax. The form of business that is operated determines what taxes must be paid. The four general kinds of business taxes…
Adam Smith believed that there should be limitations on what corporations should and shouldn't be allowed to get away with. He pinpointed a solution to the complex nature of taxes -- a simple and fair system that minimizes compliance and administrative costs. The U.S. tax code has one of the most complex tax codes in the world, which has become a burden on its economy. Smith's ideas should be used by the U.S. To design a tax code that would ease the collection burden and force interest groups to look for money elsewhere.
Appendix A Corporate Income Tax Rates -- 2002
Taxable income over Not over Tax rate
Timmons (1994) in his study presents a three-dimensional model of practical application of a good idea:
Comprehensive evaluation of the opportunity;
Comprehensive evaluation of one's own expertise and inclination; and Comprehensive evaluation of the resources gathering process to maintain the launch of business venture.
Long and McMullan (1984) propose that application of a good idea depends on two processes; namely, elaboration and evaluation. Singh (1998) found that those entrepreneurs who spend more time studying the pros and cons of an idea before embarking on its application tend to set up fewer businesses than those who spend less time in the elaboration and evaluation phase. However, Singh (1998) points out that higher majority of successful entrepreneurs are those who spend more time in elaboration and evaluation.
1.4 Traits of entrepreneurs
Wright et al. (1997a) studied motivational drivers of entrepreneurs and found that entrepreneurs are primarily driven by either one or both…
Adler, P. & Kwon, S. (2000). Social capital: The good, the bad and the ugly. In E. Lesser (Ed.), Knowledge and social capital: Foundations and applications (pp. 80-115). Boston: Butterworth-Heineman.
Aldrich, H. & Zimmer, C. (1986). Entrepreneurship through social networks. In D. Sexton and R. Smilor (Eds), the art and science of entrepreneurship (pp. 3-23). Cambridge, MA: Ballinger.
Aldrich, H., Rosen, B., and Woodward, W. (1987) "The impact of social networks on business foundings and profit: a longitudinal study," in Churchill, N.C., Hornaday, J.A., Kirchoff, B.A. et al. (eds) Frontiers of Entrepreneurship Research, Welles-ley, MA: Babson College.
Amabile, T.M. (1988) "A model of creativity and innovation in organizations," in Staw, B. And Cummings, L.L. (eds) Research in Organizational Behavior, Greenwich, CT: JAI Press.
The article is an exciting approach to capitalist development in that it finds conditions under which sustainable entrepreneurship and sustainability innovation emerge spontaneously and can practically work. As the study points out, one of the classical things that capitalism does is to "creatively destroy." It is this ability to destroy what is old and does not work and build and impose what is new and does is the primary benefit of capitalism. What sustainable entrepreneurship has done is to apply this as a positive force in realizing the field's lofty goals where public government initiatives have failed to achieve them. The article conducts an extensive literature review to accomplish just this task (ibid. pp. 223-225).
However, until now, there has not been one universally recognized definition of what sustainable development is. Such research and definitions have implications for theory and practitioners in that it clarifies which firms are most likely…
Schaltegger, S. And Wagner, M.. (2011). Sustainable Entrepreneurship and Sustainability Innovation:
Categories and Interactions. Business Strategy and the Environment. 5 (1), 222 -- 237.
Charity, selflessness, altruism and entrepreneurship are, therefore, not contradictory. It is well-known that the well-paid traditional nurse is likely to be a better worker better able to devote more attention to her patient (Hardin & . Kaplow, 2001). Deductively, therefore, the independent nurse who is motivated to work well in order to be successfully self-employed would likely (although not necessarily) be a better nurse in terms of the intrinsic nursing characteristics than those employed by institutions.
Ironically, entrepreneur nursing can potentially make one into a better nurse, for aside from being motivated to perform excellently, the entrepreneur nurse can adopt her own style and afford to conduct thorough research into nursing theories and models that culminate in enhanced nursing.
The institutional nurse is classically overworked and, therefore, has little time for arbitrary activities; the entrepreneur nurse, on the other hand, can adequately fulfill the expectations of evidence-based nursing where she…
Hanink, E. (n.d.). Nurse Entrepreneurs. Working Nurse.
Hardin, D. & R. Kaplow (Eds.) (2001), Synergy for clinical excellence: The AACN Synergy Model for Patient Care. Sudbury, MA: Jones and Bartlett Publishers.
Johnson, P. (1977). Enemies of society. NY. Etheneum
Microfinance and Rural Entrepreneurship
The objective of this study is to conduct an analysis of the field of entrepreneurial finance and to describe important issues or current dilemmas in the field. Toward this end, this study will conduct an extensive review of literature in this area of inquiry.
The difference between rural and urban entrepreneurship is reported in the work of Ahirrao and Chaugule (2010) to be "only a matter of degree rather than the content." (p.1) Ahirrao and Chaugule state that "It is essential to have a balanced regional development of the country and to avoid the concentration of industry in one place. Rural areas must try for better utilization of human resources to improve the rural economy." (2010, p.1) The industrial unit in rural areas or rural industries include such as "handlooms, handicrafts, sericulture, agro-based units, service industries, rural workshops, metal-based industries, dairy and related activities" as well…
Ahirrao, J. And Chaugule, S. (2010) Entrepreneurship Development & Rural Industrialization. Commerce Nov. 2010. Retrieved from: http://www.ssmrae.com/admin/images/1524778c17f085e7ec7252d53da84c32.pdf
Kiiru, JM (nd) Microfinance, Entrepreneurship and Rural Development: Empirical Evidence from Makueni District, Kenya. Bonn University, Bonn Germany. Retrieved from: http://www.csae.ox.ac.uk/conferences/2007-EDiA-LaWBiDC/papers/138-Kiiru.pdf
Mahieux, T; Zafar, O; and Kherallah, M (2011) Financing Smallholder Farmers and Rural Entrepreneurs in the Near East and North Africa. Conference on New Directions for Smallholder Agriculture 24-25 Jan 2011. Rome, IFAD HQ. Retrieved from: http://www.ifad.org/events/agriculture/doc/papers/kherallah.pdf
Phan, PH (2010) Entrepreneurship and Microfinance A Review and Research Agenda. Retrieved from: https://jscholarship.library.jhu.edu/bitstream/handle/1774.2/33619/microfinance%20PHAN.pdf
Schaltegger, S. & Wagner, M. (2010). Sustainable entrepreneurship and sustainability innovation: categories and interactions. Business Strategy and the Environment 20: 222-237.
Schaltegger & Wagner (2010) create a usable framework for sustainable entrepreneurship, sustainable innovation, and sustainable business development in "Sustainable entrepreneurship and sustainability innovation: categories and interactions." he article first addresses the purpose for the research. Companies have been traditionally culprits in creating both environmental and social justice problems, necessitating regulations imposed externally. Driven solely by profit, a company will not be likely to pursue innovation or sustainability entrepreneurship unless it was profitable to do so. he authors point out that while this may be true with some organizations in some sectors, that otherwise the business environment is changing. A new framework based on current business trends is proposed by Schaltegger & Wagner (2010). his new framework is based on the fact that many companies -- and their managers --…
The Schaltegger & Wagner (2010) research is helpful in providing the promised framework for relating sustainable entrepreneurship with sustainability innovation. However, the strength of the research is in the matrix revealing the different types of sustainable entrepreneurship models. Start-ups and veteran enterprises alike can study such a matrix for cues and clues as to how to effectively launch a sustainability enterprise based on innovation. The research can be applied to progressive regulatory environments, seeking to balance the needs for greater corporate accountability with the need for economic progress. Although the Schaltegger & Wagner (2010) research seems convoluted and overly complicated at times, it does have some practical value in highlighting the points of convergence between business, social justice, and ecological ethics
It is possible that sustainable innovation refers more to the method by which stalwart companies like Deutsche Bahn embark on sustainable entrepreneurship: applying traditional business models to meeting new goals. The Schaltegger & Wagner (2010) research also shows that fresh entrepreneurs may not contend with as many obstacles as was once believed. The seemingly mutually exclusive goals of profitability and sustainability can go hand in hand. Schaltegger & Wagner (2010) might be better off injecting more than cold fact into their research, which seems oddly devoid of any ethical framework. The authors treat issues like social benefit as if it were as quantifiable as sales figures. Moreover, the current research is exploratory and theoretical in nature. An experimental research design might be helpful in future research in this specific area if it is to be of any use to policy makers.
Ultimately, the goals of the research were fulfilled and the authors make a good point about the changing marketplace. The authors present a helpful framework outlining the types of sustainable entrepreneurship. Businesses can draw from this research a mission statement for a proposed sustainability innovation program. Entrepreneurs can use this research to present business models that are grounded in both fiscal and environmental responsibility. Schaltegger & Wagner (2010) also show which conditions tend to give rise to sustainable entrepreneurship, and posit relationships with measurable market impacts. It helps to know that innovation can be presented as a definite solution to environmental and social problems. Finally, there is no one model for sustainable entrepreneurship; the diversity of the economy and of the environment requires a multifaceted and heterogeneous business enterprise.
When employees are managed for their potential in addition to their contribution, their willingness to openly share and contribute information significantly increases. esistance to change and fear are minimized and employees perceive their role as contributor and knowledge expert over time, not as an employee who is being automated out of a job for example. The critical factors that lead to a learning organization are put into motion by transformational leaders who seek to define a culture inside their organizations of professional growth for subordinates. The focus on autonomy, mastery and purpose is critically important for organizations to grow entrepreneurs (El Tarabishy, 2006) while at the same time overcoming resistance to change as employees don't see the need to hoard information but to add rapidly to it to master their field and be an acknowledged expert or guru in their fields. The difference in behaviors is mastery over one's position…
Li Yueh Chen, & F. Barry Barnes. (2006). Leadership Behaviors and Knowledge Sharing in Professional Service Firms Engaged in Strategic Alliances. Journal of Applied Management and Entrepreneurship, 11(2), 51-69.
Karina Skovvang Christensen. (2005). Enabling intrapreneurship: the case of a knowledge-intensive industrial company. European Journal of Innovation Management, 8(3), 305-322.
El Tarabishy, Ayman (2006). An exploratory study investigating the relationship between the CEO's leadership and the organization's entrepreneurial orientation. Ed.D. dissertation, The George Washington University, United States -- District of Columbia.
Ling, Y., Simsek, Z., Lubatkin, M., & Veiga, J.. (2008). Transformational leadership's role in promoting corporate entrepreneurship: Examining the CEO and Top Management Team Interface. Academy of Management Journal, 51(3), 557.
Saudi women entrepreneurship
Saudi women of the 21st century have progressed in marked ways compared to women of a decade ago. Nonetheless, female entrepreneurs are saddled with quite a few difficulties that prevent them from progressing and impede their social and personal life as well as making their vocational progress extremely challenging. The research will investigate Saudi women entrepreneurs social role in developing Saudi economy and challenges facing them.
Women are faced with tremendous difficulties. Barriers include lack of market studies, lack of governmental support, lack of coordination among government departments, lack of support from the community, society restrictions and oligopolistic attitude of the investors (Asad Sadi, & Al-Ghazali, 2010). To overcome all of this and proceed with one's dreams, one must be remarkably stubborn and the women must be extremely resilient to overcome these difficulties. That they are motived by self-actualization is one matter. But entrepreneurs in this position…
Asad Sadi, M. & Al-Ghazali, BM (2010). Doing business with impudence: A focus on women
entrepreneurship in Saudi Arabia, African Journal of Business Management 4(1), 001-011,
Cohoon, J. et al. (2010) Are Successful Women Entrepreneurs Different From Men? Kaufman
For IBM, it took Louis Gerstner getting angry about unfulfilled opportunities for new businesses to create the EBO structure. For Nokia, the similarities with IBM are at a very high structural level, yet Nokia relies on a completely different set of processes for fostering innovation and corporate entrepreneurship. The rapidly changing world of laptop computers needed a corporate nonconformist to accomplish what carefully defined processes in Toshiba could not. In the case of Trilogy the need for creating a steady stream of significant new innovation forced the creation of a proving ground where PhDs in software and mathematics could quickly define entirely new product and business concepts.
Abetti, P (2004) - Informal corporate entrepreneurship: implications from the failure of the Concorde alloy foundry and the success of the Toshiba laptop;. J. Entrepreneurship and Innovation Management, Vol. 4, No. 6, 2004, pp. 529-545
Arthur D. Little (2002) - Developments in…
Abetti, P (2004) - Informal corporate entrepreneurship: implications from the failure of the Concorde alloy foundry and the success of the Toshiba laptop;. J. Entrepreneurship and Innovation Management, Vol. 4, No. 6, 2004, pp. 529-545
Arthur D. Little (2002) - Developments in the area of Corporate Venturing based on a global Arthur D. Little Study. December, 2002. Page 11 quoted with the Nokia graphic. Accessed from the Internet on March 30, 2007: http://www.adlittle.com/insights/studies/pdf/corporate_venturing_study_report.pdf
Garvin, D.A., & Levesque, L.C. (2006). Meeting the Challenge of Corporate Entrepreneurship Harvard Business Review, Business School Publishing. Pages 102-112.
Nunes, S. (2004). IBM research: Ultimate source for new business. Research Technology Management, 47(2), pages 20-23.
Access to credit is a significant barrier to entry for many entrepreneurs, especially in the developing world. Often, people cannot afford to start or expand a business because they have no access to capital. With microcredit, this gap is bridged and entrepreneurs in the developing world can have access to capital. This helps to encourage such individuals to open business, or to expand their business.
Beyond the financial aspects, the psychological aspects of microcredit also are important in fostering entrepreneurial activity in the developing world. Entrepreneurs, who previously knew little support, are likely to respond positively knowing that there are people who believe in their abilities, their integrity and their business model. Sometimes just knowing that people have faith in you can help your motivation to work harder and build the business. Knowing that further capital can be acquired down the road if need be is also critical, because it…
interview: Mr. X
When I interviewed Mr. X, the owner of high end-restaurants and a luxury boutique hotel, my first question was: "why did you decide to 'create your own job' in the hospitality industry, rather than work for someone else?" Mr. X stressed that hospitality was his passion from a young age. "I truly believe that the hospitality industry must be in 'your blood' to succeed. It is a difficult and competitive industry, and just about everyone I know who is ambitious and involved within it wants to work for him or herself. I wanted to put my own stamp on things. When I was working for other people I often felt frustrated when I knew that I could do something better, or had better ideas than my managers."
Opportunities do not create themselves; the entrepreneur has to love what he does enough to work 24-7 and to take…
These include: formulating a hypothesis, assembling resources and designing / running experiments. The combination of these elements will provide a way of accurately assessing the underlying amounts of risk. Moreover, it will help to identify procedures that will allow entrepreneurs to continually innovate. (Sull, 2004, pp. 71 -- 77)
According to Soto, this is in line with his basic function of an entrepreneur. Evidence of this can be seen with him saying, "This idea fits perfectly with the activity that exercises the employer to decide what will be their actions and to estimate the effect of the same in the future. Being alert, although it is also acceptable as a note of entrepreneurship by involving the idea of attention or vigilance, I believe it is something less appropriate than the adjective 'insightful' or 'perspicacious', perhaps because it implies or involve an attitude clearly more static. On the other hand, we…
Soto, J. (n.d.). Business Function and Perspicacity
Sull, D. (2004). Disciplined Entrepreneurship. MIT Sloan Review, 71 -- 77.
invention changed lives entrepreneurs . People vision determination helped shape world. My Canadian envention snowmobile. I present information interesting creative rest class. Things answer: hen invention snowbile created? ho invented ? here invented? hat impact invention society? How long invention ' '? Have improvements made invention? hat future invention? The emphasis presention entrepreneur enhanced consumer satifaction entrepreneur agent change.
Joseph-Armand Bombardier's snowmobile
As technology came to influence virtually every domain at the start of the twentieth century, people came across the difficulty of traveling through the countryside during winter. In spite of the fact that a series of devices were invented at the start of the century, none of them seemed capable of completing this task. As a result, people designed an all-terrain vehicle meant to transport individuals and freight over lands where other vehicles remained stuck. Some people felt that it was essential for them to get actively engaged…
Capps, Randall and Clermont, Paul Entrepreneurship and Innovation in Quebec: How the Province Became a World-Class Player (Westport, CT: Praeger, 2004)
Dana, Leo-Paul "Entrepreneurship in a Remote Sub-Arctic Community," Entrepreneurship: Theory and Practice 20.1 (1995)
Golomb, Claire ed., The Development of Artistically Gifted Children: Selected Case Studies (Hillsdale, NJ: Lawrence Erlbaum Associates, 1995)
Mergen, Bernard "Leisure Vehicles, Pleasure Boats, and Aircraft," Handbook of American Popular Culture, ed. M. Thomas Inge, 2nd ed., vol. 2 (New York: Greenwood Press, 1989)
funding for entrepreneurs seeking seed capital to actualize their business ideas. The said funding sources in this case include but they are not limited to angel investors, bank loans, venture capitalist, friends and family, etc. In this text, I discuss angel investing. In so doing, I will largely concern myself with the pros and cons of the same.
A few years ago, James Barnham turned down an offer from a group of angel investors to fund the launch of a device he had invented. At the time, Branham was seeking a total of £150, 000 from investors in a reality TV program, Dragon's Den. Barnham according to Singh (2009) terms his rejection of the offer the best decision in his life. The investors (dragons) had sought a significant stake in the venture in exchange for the seed capital. The term Dragon (in relation to the TV program) according to ees-Mogg…
Cobb, W.R. & Johnson, M.L. (2012). Business Alchemy: Turning Ideas into Gold. Bloomington, IN: AuthorHouse.
Kaplan, J.M. & Warren, A.C. (2009). Patterns of Entrepreneurship Management (3rd ed.). Hoboken, NJ: John Wiley & Sons.
NovaFlo. (2007, Nov 6). Dragon's Den Nova-Flo Pitch [Video file]. Retrieved from http://www.youtube.com/watch?v=xu0QifxOGvs
Rees-Mogg, M. (2008). Dragons or Angels? An Unofficial Guide to Dragon's Den and Business Investment. Richmond: Crimson Publishing.
On the other hand, a new business plan should not be so unrealistic as to fail to take note of existing market conditions and real economic pressures. The balance of personalities of team members, between the more practical and introverted, to the more feeling and extroverted individuals gave our team an excellent personality blend of boldness and caution. There was methodological weight behind the market research we conducted, yet there was also innovative thinking in terms of how the product was structured.
Another great strength of our team was the balance of people who enjoyed beginning new projects, and people who enjoyed bringing tasks to completion. One problem with creative idea-generating techniques such as laddering and SWOT is that so many ideas and potential innovations and obstacles can be generated that idea sessions spiral out of control and there is no grounding in reality and no sense of refining the…
Allen, K.R. (2010). New venture creation (International Edition). 5th ed. South-Western
Bolton, B. & J. Thompson. (2004). Entrepreneurs: Talent, temperament, technique. 2nd ed.
Competitor products and their equivalent prizes, this is so that after establishing our break-even analysis it can act as a guiding line to set the best price. (Tao 2008)
The survey should enable one establish the best marketing strategies and anticipate any future contingencies.
Entrepreneurship development services
This service will target individuals who wish to start business on their own or in a group it will mainly involve
Training on how to originate business ideas. It is said that if you feed a man you have only feed him a day, a long-term problem in a short-term way. If you show the man how to fish then you have feed him and his family for life and I add that if you show the man how to run a fish business you will have feed the society too. In his book ich Dad Poor Dad, Kiyosaki explains that the most…
Adaman F., Keyder C., Mudderrisoglu S., Yukseker D. (2009) Poverty and Social Exclusion in the Slum Areas of Large Cities in Turkey. European Commission on Employment, SocialAffairs and Equal Opportunities Development Goal. European Union, Luxenbourg, Europe.
Agbola T., Agunbiade E. (2009) Urbanization, Slum Development and Security of Tenure: The Challenges of Meeting Millennium Development Goal 7 in Metropolitan Lagos, Nigeria. Department of Urban and Regional Planning, University of Ibadan, Nigeria.
Camur E. (2003) What are the Social, Physical and Economic Problems of Slums and their Expectations from the Urban City? Sage books.New York.
Dumashie a. (2004) Informal Housing in East Africa: Lessons Learned From Cross Country Borders (Part II). Journal, FIG Working Week, May 22-27, United Kingdom.
The company reports that it expects more than 2 million Jiffy Lube customers to receive a direct mail postcard featuring a mail-in offer for two free movie tickets with the purchase of a Jiffy Lube Signature Service oil change using Pennzoil or Quaker State® SUV/minivan, high mileage vehicle or synthetic motor oil; the company also notes the direct mail postcard will also include a $5 off instant coupon and will be honored at participating Jiffy Lube service centers through mid-August 2005. According to the press release, the company's director of marketing stated: "Jiffy Lube is targeting customers that our internal research has identified as the most likely candidates for a specialty oil change. The movie offer is perfectly timed because the summer is synonymous with road trips and blockbuster movies" (Jiffy Lube Rolls Out Red Carpet for Summer Promotions 2).
Management Team Composition.
According to Sims (2002), the hierarchy of…
About Us. (2005). Jiffy Lube. Retrieved February 9, 2005 at http://www.jiffylube.com/Company/cpy_AboutUs.aspx .
Avatech Solutions. (2005). Avatech Solutions - Board of Directors. Retrieved February 9, 2005 at http://www.avatechsolutions.com/aboutus/corporate/board.aspx.
Baucus, David a., Melissa S. Baucus and Sherrie E. Human. (1993). Choosing a Franchise: How Base Fees and Royalties Relate to the Value of the Franchise. Journal of Small Business Management, 31(2):91.
Brown, Paul B. (April 1989). Looking Out for Number One. Inc.com. Retrieved February 9, 2005 at http://www.inc.com/magazine/19890401/5615.html .
egardless, he has no idea what others are talking about but is willing to admit it (Cohn, 2011).
Hawk views everything as amazing in regards to how his life turned out. He wonders how he got there with moments like this at times. Tony learned of self-confidence along the way, which helped him to use skateboarding as his life. Furthermore, he is able to incorporate diversity and tolerance into his business. Deep down, he knew that people were wanting more than what they were seeing. Hawk loves his job, and considers this his job description.
After the 1999 X games, Tony decided to retire from competing with others. Despite him no longer having a part in getting this games going when he was in high school, he does manage to put on demonstrations as well as exhibitions around the world (Hawk, 2011). For example, Hawk does a "Boom HuckJam Tour…
Cohn, G. (2011). Tony Hawk carves a new niche. Retrieved June 21, 2011, from Enterpreneur: http://www.entrepreneur.com/magazine/entrepreneur/2009/october/203408.html .
Entmoney. (2009). The business of sports: Tony Hawk. Retrieved June 21, 2011, from Entmoney: http://www.entmoney.com/tag/tony-hawk/ .
Hawk, T. (2011). Bio. Retrieved June 21, 2011, from Tony Hawk: http://www.tonyhawk.com/bio.html.
McCurdy, L. (2010). Athletes turned entrepreneurs. Retrieved June 21, 2011, from CNBC: http://www.cnbc.com/id/38359640/15_Pro_Athletes_Turned_Entrepreneurs.
esearch leading entrepreneurs determine entrepreneurial approaches -- categories: (1) profit oriented, (2) social responsibility oriented 1.Analyze describe founding leader(s), leadership style, major business principles a profit-oriented entrepreneurial approach primary goal provide a product service consumers make a profit.
Two leading entrepreneurs: Socially-oriented and profit-minded
Socially-oriented leadership: Larry Page
Although its motto is 'don't be evil,' Google is a for-profit company. However, it manages to leverage its idealism in a fashion that is well-suited to the image and success of its product. It is an Internet company that is dependent above all upon the dissemination of knowledge. Google co-founder Larry Page places a strong emphasis on innovation at his company. Google's engineers are allowed to spend part of their time on personal projects, as a way of encouraging the company's top talent to generate the ideas of the future. Google trusts in the intelligence of its employees, and encourages them…
Allen, Frederick. (2011). Steve Jobs broke every leadership rule: Don't try that yourself. Forbes.
Elmer, Vickie. (2011). What would Larry Page do? Fortune. Retrieved:
In recognition that these t-shirts might be found to be objectionable to many young women, who are among our best customers, we contacted Heather Arnet, Executive Director of the omen & Girls Foundation, and offered to discuss the issue with them. e recognize that the shirts in question, while meant to be humorous, might be troubling to some." Despite, or perhaps, one could argue, because of, the controversy generated by the sexually explicit t-shirts, on November 15, 2005, CEO Mike Jeffries stated that the company had enjoyed record third quarter profits. "These strong results reflect the broad momentum and successful differentiation of our brands, confirming our entire organization's dedication to building dominant iconic brands. e are uniquely positioned as the top of mind premium provider of sportswear with brands that appeal to a broad spectrum of customers in the pre-teen through post-collegiate demographic. This is a position we have worked…
Abercrombie & Fitch Issues Joint Statement with Women & Girls Foundation of Southwest Pennsylvania." Press Release. Abercrombie & Fitch. 4 Nov 2005.
27 Mar 2008. http://www.abercrombie.com/anf/lifestyles/html/investorrelations.html
Abercrombie & Fitch Reports Third Quarter Results."(4 Nov 2005). Press Release.
Abercrombie & Fitch. 15 Nov 2005. 27 Mar 2008 at http://www.abercrombie.com/anf/lifestyles/html/investorrelations.html
women's entrepreneurs: Evidence from an East African Economy (Ethiopia)
It is an established fact that the Micro and Small Enterprise (MSE) sectors can help large parts of the populace in underdeveloped economies like Ethiopia as the means for livelihood. African women are beleaguered with societal and cultural challenges and overall entrepreneurial attributes, and that is reflected in the lack of their entrepreneurship development. This study hence takes up the issues ascribed to entrepreneurship orientation in African women and the factors affecting their business orientation. Entrepreneurial Orientation (EO) levels of the African women were found to lie in the lower and mid levels assessed against businesswomen elsewhere. The EO of women is found to be positively related to multiple and often diversified business interests and ownerships amongst different socio-economic strata (Gelan & Wedajo 2013). This study is comprised of 203 entrepreneurs involved in 5 categories employing random, stratified sampling method. The…
Cools, E. And Van den Broeck. H, 2007. Development and Validation of the Cognitive style indicator. The Journal of Psychology 3(14): 10-15
OECD, 2002. The Keys for Successful Women Entrepreneurs. The OECD Bologna Process, December 2002.
Wube M.C, 2010. Factors affecting the performance of women entrepreneurs in micro and small enterprises (the case of Dessie town)
Altinay. L., 2006. Determinants of Ethnic minority entrepreneurial growth in the catering sector. The service Industries Journal. 26(2): 203-222
First of all, they are aimed to remove any barriers from the path to formation of an entrepreneur. This could easily refer to an increased and easier access to education or the removal of discriminatory practices. The second set of initiatives is oriented towards the specialization of the entrepreneurs and could refer to specialized courses, training or the sharpening of the senses and the skills it takes to become a good entrepreneur.
E: Example: the list of examples in the field of entrepreneurs' initiatives is rather broad, moreover since the contemporary business and scholarly communities are increasingly focused on the role and responsibilities of the entrepreneur. The Ewing Marion Kauffman Foundation has set the basis for numerous such initiatives, the most relevant examples in this sense being offered by the Advancing Innovation Initiative, the Initiative for Closing the Gap for omen and Minority Entrepreneurs or the Urban Entrepreneur Partnership Initiative.…
Schaper, M., Volery, T., 2004, Entrepreneurship and Small Business: A Pacific Rim Perspective, Wiley
2008, Grants and Initiatives - Entrepreneurship, Ewing Marion Kauffman Foundation, http://www.kauffman.org/initiatives.cfm?topic=entrepreneurshiplast accessed on June 4, 2008
2008, Fragments of Donald Trump's Speech, Retrieved from You Tube, http://youtube.com/watch?v=HXYURZOwbtg&feature=related , June 4, 2008
2008, Michael Dell's Advice to Entrepreneurs, Retrieved from You Tube, http://youtube.com/watch?v=bBsCZpomy24&feature=related , June 4, 2008
The business plan is therefore dependent upon these abilities and constraints. The abilities and constraints that the environment provides are furthermore tempered by the inherent abilities of the business person him- or herself. The third dimension of pragmatism is the constraints and abilities provided by the surrounding society. Hence, entrepreneurship is dependent upon the external physical and social environment, as well as internal factors such as inherent abilities and resources.
When applying this to entrepreneurship policy, the three factors need to be integrated to provide the best possible opportunities for entrepreneurs. According to the OECD (2011), one of the first important focal points should be the local community, where an entrepreneurship development strategy should be implemented. To ensure that all pragmatic factors are integrated, key partners should mutually agree on a clear strategy for entrepreneurship aims. These should focus specifically upon the needs and capabilities of the community of focus.…
Kraaijenbrink, J. (2008, May 22-23). The Nature of the Entrepreneurial Process: Causation, Effectuation, and Pragmatism. Dutch Institute for Knowledge Intensive Entrepreneurship (NIKOS). Retrieved from: http://doc.utwente.nl/73744/1/Kraaijenbrink.pdf
OECD (2011). Entrepreneurship Policy Delivery. Retreived from: http://www.oecd.org/document/21/0,3746,en_21571361_38013663_38040823_1_1_1_1,00.html
Scott Griffith, the brains behind Zipcar. Zipcar is a company that is engaged, basically, in the automobile rental business. The premise is that people join Zipcar, giving it membership-based revenue, and then they pay when they want to use the car. Zipcars are located in neighborhoods, so that people can walk to the nearest car after they have booked it, and just take it. The target market for Zipcar is mainly urbanites who generally do not need to maintain a full-time automobile but who might need one for temporary purposes -- a run to Costco, or a short trip -- where a Zipcar will be cheaper and more convenient than a conventional rental car option.
Griffith was educated in mechanical engineering, not running a car-sharing business. Griffith has stated on many occasions that his engineering background was critical to developing the traits needed to succeed as an entrepreneur…
Gara, T. (2013). The exit letter: Zipcar CEO Scott Griffith. Wall Street Journal. Retrieved May 18, 2014 from http://blogs.wsj.com/corporate-intelligence/2013/03/15/the-exit-letter-Zipcar-ceo-scott-griffith/
Gates, S. (2007). Seattle's Flexcar merges with rival Zipcar. Seattle Times. Retrieved May 18, 2014 from http://community.seattletimes.nwsource.com/archive/?date=20071030&slug=flexcar31
Kilcrease, A. (2011). A conversation with Zipcar's CEO Scott Griffith. Gigaom.com. Retrieved May 18, 2014 from http://gigaom.com/2011/12/05/a-conversation-with-Zipcars-ceo-scott-griffith/
Levitt, R. (2014). A creative problem solver takes the car-sharing concept to a new level. Experience.com. Retrieved May 18, 2014 from https://www.experience.com/alumnus/channel-channel_id=entrepreneurship_guide&page_id=scott_griffith
I definitely have the personality, skills and goals to be an entrepreneur. The entrepreneur requires both functional and managerial skills. Since the entrepreneur is responsible for all aspects of the operations, he/she must have a strong working knowledge of each different business function. In addition, the entrepreneur must have a distinctive competency in the business venture that is being launched.
The personality of an entrepreneur emphasizes hard work and determination. Entrepreneurs must be prepared to forgo sleep and comfort while they build their business. In many cases, owners are unable to withdraw money from their company for the first year or two. There are going to be numerous roadblocks as well, from government regulation to competitor response. I have the perseverance of an entrepreneur and the drive to push through the difficulties, the roadblocks and the naysayers.
B. The business idea I have selected is a third wave…
Morkides, Alisa. (2008). Coffee's Third Wave. Delaware Out & About. Retrieved April 17, 2009 from http://www.out-and-about.com/Default.aspx?DN=68f5b8b5-bc8f-4a8f-b81c-a3a4f69856d6
Weihrich, Heinz. (no date). The TOWS Matrix -- A Tool for Situational Analysis. University of San Francisco. Retrieved April 17, 2009 from http://www.usfca.edu/fac_staff/weihrichh/docs/tows.pdf
No author (2009). Frequently Asked Questions about Opening a Coffee Shop. Bellisimo. Retrieved April 17, 2009 from http://espresso101.com/coffee_faq.html
No author. (2009). Choose Your Location Based on Value, not Price. Cafemakers. Retrieved April 17, 2009 from http://www.cafemakers.com/coffee-business/choosing-location.html
finance and financial entrepreneurship. The basis of the article is on a discussion that was held on this subject among four leading lights of financial entrepreneurship in the United States - Michael Milken, Lewis Ranieri, Richard Sandor and Myron Scholes. These people are famous in their own right and have had a sizeable role in financial entrepreneurship in the U.S. over the last 20 years. We have first discussed their achievements to get a clear idea about their personal achievements. This would certainly give a clear idea of what is possible in the U.S. today. They are of course interesting characters and one has to remember that the ideal entrepreneur of the 21st century cannot be thought of as an updated version of Henry Ford. After the discussion of the people, the meeting and the discussions held there are summarized. ased on the total information collected, we have come to…
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Atkinson, T.R. Trends in Corporate Bond Quality. Hardingson, 1967.
Goodfriend, Marvin; Parthemos; James, Summers, Bruce J. Recent financial innovations: courses, consequences for the payments system, and implications for monetary control, Economic Review, March 14-27, 1980
Schneider, S.H. Laboratory Earth: The Planetary Gamble We Can't Afford to Lose. Basic Books New York, NY. 1997.
Similarly, their cash flow Excel spreadsheet template offers flexible and powerful features that help entrepreneurs save time and trouble during the valuable planning stages.
Another helpful product offered by Planware.org is their business plan writing software. These aids take newcomers step-by-step through the process of writing effective business plans for any size firm. The guide is divided into sections to help the user address each aspect of their intended business separately. Each section is linked to features like charts and spreadsheets too. Planware.org offers two editions of the business plan writer: Plan Write and Plan Write Expert. The business planning software can be a stand-alone product or used in conjunction with other Planware tools.
Planware also offers specialized marketing analysis tools also under the Plan Write brand. The marketing aids help budding entrepreneurs conduct fairly sophisticated analyses of their target markets Links to intent sites enable the savvy user to…
Business Plan Freeware." Planware.org. Retrieved Mar 22, 2007 at http://www.planware.org/businessplanfreeware.htm
Marketing and Sales Plan Software." Planware.org. Retrieved Mar 22, 2007 at http://www.planware.org/marketingplansoftware.htm
countries trading and acting as entrepreneurs in the global marketplace and the roles international institutions must now play in world trade regulation. It is important to note that globalization and entrepreneurship on a world scale should be considered a positive development. Countries using the entrepreneurial line of reasoning are generally more creative and have a tendency to offer more individual freedoms for their people. Open competition on the current global scale has controlled world pricing and has created new opportunities for all types of new innovations and services while at the same time increased the entrepreneurial and marketing talents in countries once dominated by restrictive state governments. Basically, entrepreneurship, whether on an individual or an entire country scale, is better for creating wealth. But, there are negatives. There are always those scenarios where these entrepreneurial methods are being used by countries under the control of corrupt or incompetent governments. Therefore,…
The Bombardier's innovative designs, for example V220 and V300T engines are far superior in durability, quality and reliability as their features result in the elimination of shock, and allow smoother operation, as well as offering easier maintenance than current aviation piston power plants (Dyck, Buckland, Harder, & Wiensee, 2000). Their MoGas capability, use of propeller speed reduction units, and mufflers also ensure that the Bombardier V220 and V300T can meet the future competitive challenges of the business.
In capitalizing on know how, the company is increasingly pursuing a strategy of acquiring other companies in the industry. For example, portfolio of its acquisition includes companies such as Canadair, de Havilland, and Learjet and even Shorts, Europe's oldest aircraft manufacturer. Moreover, the company's entry into markets can be seen as an innovative company that prides itself in taking the risks. ecently, the company acquired two new sources of growth with the Adtranz…
Dyck, B., Buckland, J., Harder, H. & Wiens, D. (2000). "Community Development as Organizational Learning: The Importance of Agent-participant Reciprocity," Canadian Journal of Development Studies, 21, 605-620.
Prahalad CK and G. Hamel (1990) "The Core Competence of the Corporation," Harvard Business Review, 68, pp 79-91
Values of Being an Entrepreneur
Intrepreneurship is important for so many different reasons. Some of these are decidedly practical, such as the reduction of job opportunities during economic times that are less than desirable (which is currently the case). Others are perceived as more personal in nature, such as the fact that some people are not partial to working for others and would rather do so for themselves. Still, it is worth mentioning that intrepreneurship has plenty of difficulties that accompany situations in which individuals choose to expand their businesses. They have to deal with competition, increasing attention from governmental and regulatory agencies, and market trends that can impact whatever industry in which they are involved. Still, when one stops to considers both the positive and negative aspects of intrepreneurship, it becomes perfectly clear that intrepreneurship is vital to a capitalist system because it enables market forces to continually evolve…
Harper, J. (2014). Monetizing the industrial internet of things. www.dataversity.net Retrieved from http://www.dataversity.net/monetizing-industrial-internet-things/
Hill, C.W., Jones, G.R. (2014). Strategic Management Cases: An Integrated Approach. New York: Cengage Learning.
Thompson, A.A. Starbucks in 2012: Evolving into a dynamic global organization.
opportunities, including education, employment, and entrepreneurship that immigrants have in America.
America provides opportunities for all races:
America guarantees that one will not be discriminated on the basis on of his race,
National origin, gender, age etc.
All citizens in America have the right to an equal education, which includes a bilingual education.
Teaching immigrants the English language on an academic level allows them to communicate on a level equivalent to other professionals in the work place.
Immigrants who learn the English Language on a communicable level gives him or her the same equal legal rights as natural born Americans, for example-no hidden surprises in legal contracts.
Foundations help immigrants start up their own businesses in America.
Immigrants, upon receiving citizenship, have the same rights to own businesses in America as Native Americans.
Immigrants of other countries are allowed to contribute their uniqueness to this country when they open…
Frost, Martin, (01/22/1999)
Where-Freedom Seekers Yearn to be Free; Halting Immigrants Deprives America of Fresh Talent that Keeps in on Top
Knight-Ridder News Service
Kelley, S., (9/18/2002)