... a widely addressed topic in the 20th century and many renowned economists have studied the subject. Schumpeter, who might be the most famous, links entrepreneurship to innovation and emphasizes on the importance of the entrepreneur in the economic development. Like Schumpeter, Clark (1899), Higgins (1959) or Leibenstein (1978) have studied the role of the entrepreneur in the society and see it as someone who identifies business opportunities and creates companies more than somebody taking risks. In 1921, Knight showed that the entrepreneur is effectively endorsing risk because...
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...strategy for the Hydrate business post acquisition | ABL is a listed company focus is on creating shareholder value and it intends to extend products in the food industry. However hydrate is likely to maintain its strong private background and focus on domestic non-alcoholic market, maintained by private ownership.ABLs key requirement was improved financial performance and use of Hydrate as a basis for expansion into the bottled water industry. | It should have been communicated to all levels of business through cascading communication. This would have ensured all ABL employee understood the future direction of the business and the changes that would be needed.An explanation to existing company employees is required to make sure they fully understand the strategy changes. | StructureDecentralized organization structure in ABL Vs relatively centralized structure in HydrateSystemStrict financial processes are seen by the existing Hydrate mgmt. as cumbersome and inflexibleMgmt and staff are not happy with the new performance management and reward policies that have been implemented and there is a real problem with motivation towards the achievement of goalsDifferent functional system would be applied.StyleStaff | ABL is the second largest company in non-alcoholic beverage industry. The size has required a decentralized structure in the organization. However, Hydrate water is a private owned company.ABL governance requirements have forced strict financial controls to be put in place...
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...related to the relationship between BTI and Randy Burnham & Co. The operational issues that can be highlighted are the issue of working with potentially biased audit firm, lack of internal control and lack of corporate governance. The chief financial officer (CFO) of BTI, Willie Carson was once an employee of the Randy Burnham & Co., an accounting firm that is currently acting as the auditor for BTI. The relationship between Carson and the auditors from Randy Burnham & Co. may cause a conflict of interest. A conflict of interest is a situation in which private interests or personal considerations could affect or to perceived to affect both Carson and the auditors from Randy Burnham & Co. judgements to act in the best interests of BTI. The relationship of Carson and the auditors may influence the judgement and the decision relevancy that creates many of the conflict of interest problems in the business. For instance, Carson may ask the auditors favour to conceal the material misstatement found in the financial statement from the venture capital firm’s knowledge. Objectivity and integrity are essential qualities for employees of any organization. The affected result is not only the unqualified opinions rendered for the audited financial statements for previous years are arguable but also the...
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...China's market reforms and accession to the WTO has led to its economy growing rapidly, to the point where it is now the fourth largest on earth, and is expected to be in the top two within the next decade (Business Monitor International, 2006). As a result, China's SMEs are now facing an economy flooded with foreign capital, and with a more open economic climate than in previous years, but also a much more competitive economy, where many of their previous practices are no longer relevant. This piece aims to examine the effect of these changes on the strategies of Chinese SMEs by first examining the role of the SME in the economy, then analysing the strengths and weaknesses of the Chinese SMEs, and the opportunities and threats that have arisen from China's WTO membership. The piece will then examine Chinese SMEs from a strategic perspective, and the impact the the WTO membership has had on said strategies. Finally, the piece will give strategic recommendations for Chinese SMEs that wish to take advantage of the opportunities that WTO membership offers, and also for those SMEs that wish to avoid the challenges it poses. The Role of SMEs in both the International Perspective and the Chinese Perspective Academics have long realised that small and medium enterprises grow to become the major corporations and businesses of the future (Davis et al., 1985). As a result of this view, greater attention has been given to the role of small and medium sized enterprises (SMEs) in contributing...
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...Completion Date | Submitted on | 11/9/2015 | 28/9/2015 | 28/9/2015 | Qualification | Unit | BTEC LEVEL 3: EXTENDED DIPLOMA IN USINESS | Unit 1: The Business Environment | Assignment Title | A magazine to promote local businesses in Nairobi County | In this assessment you will have opportunities to provide evidence against the following criteria. Indicate the page numbers where the evidence can be found. | Criteria Reference | To achieve the criteria the evidence must show that the learner is able to: | Task no: | Page numbers | P1 | Describe the type of business, purpose and ownership of two contrasting businesses | 1 | 1 to 7 | P3 | Describe how two businesses are organized | 2 | 8 to 10 | P4 | explain how their style of organization helps them to fulfil their purposes | 2 | 8 to 10 | Learner Declaration | I certify that the work submitted for this assignment is my own and research sources are fully acknowledged.Learner Signature: Bayan Kaid Date: 28/9/2015 | YOUNG INVESTORS MAGAZINE UNIT 1: Business Environment By: Bayan Kaid | 9/19/15 | Teacher: Fred Nzuku | Contents | Page number | Task one (P1) * Introduction of business & magazine………………… | (1,3) | * Private sector Business: Safaricom………………….. * Introduction to Safaricom……………………………. * Safaricom Competitors & no of employees………….. * Safaricom type of ownership…………………………...
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...flows for the year then ended. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audit. The major audit issue involved will be determining that the client has properly categorized costs between research and development (those costs involved in establishing technological feasibility) and those costs that should be capitalized. The auditors will have to determine at what point the software product reached the point of technological feasibility. We conducted our audit in accordance with auditing standards generally accepted in (the country where the report is issued). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. Furthermore, our ratio analysis showed no major changes. However, our audit did reveal that a number of the ratios show significant changes which seem due primarily to the increased level of profitability. In our opinion, the financial statements referred to above present...
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...• Certified Financial Planner, Investors Diversified Services, Minneapolis, MN. • 30 years of experience selling software and services to banks and credit unions. • Fair Credit Reporting Act (FCRA) Certification 2002. • Successfully completed Business Ethics, Macroeconomics, Microeconomics, Money and Banking, Statistics, Organizational Behavior, Globalization: Business & Society in the Information Age. BASIC ACCOUNTING CONCEPTS AND BUSINESS STRUCTURE Generally accepted accounting principles (GAAP) are a set of principles, procedures, and authoritative standards set by policy boards and simply the commonly accepted way of recording and reporting financial information. The purpose of accounting is to provide the information that is needed for sound economic decision making. The main purpose of financial accounting is to prepare financial reports that provide information about a firm's performance to external parties such as investors, creditors, and tax authorities. Managerial accounting contrasts with financial accounting in that managerial accounting is for internal decision making and does not have to follow any rules issued by standard-setting bodies. Financial accounting, on the other hand, is performed according to Generally Accepted Accounting Principles (GAAP) guidelines. The Financial Accounting Standards Board (FASB) has been the designated organization in the private sector for establishing standards and interpretations of financial accounting and...
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...GCC Pharmaceutical Industry March 31, 2013 Alpen Capital was awarded the “Best Research House” at the Banker Middle East Industry Awards 2011 GCC Pharmaceutical Sector | March 31, 2013 Page | 2 Table of Contents 1. 1.1. 1.2. 1.3. 1.4. EXECUTIVE SUMMARY............................................................................ 6 Scope of the Report .................................................................................. 6 Key Growth Drivers .................................................................................. 6 Key Challenges ........................................................................................ 6 Trends .................................................................................................... 7 2. 2.1 2.2 2.3 2.4 2.5 2.6 2.7 GCC PHARMACEUTICAL INDUSTRY OVERVIEW ...................................... 8 GCC Pharmaceutical Market Overview ............................................................. 8 The UAE Pharmaceutical Market .................................................................... 11 The Saudi Arabian Pharmaceutical Market ...................................................... 13 The Kuwaiti Pharmaceutical Market ............................................................... 15 The Qatari Pharmaceutical Market ................................................................. 16 The Bahraini Pharmaceutical Market .............................................................. 17 The...
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...Define the type of organisation and the industry in which it operates. • Established by a group of enterprising pharmacists in 1937 • listed in ASX in year 1996 • industry, product segments / markets? ◦ Second largest competitors in non-alcoholic beverages ◦ product for non-alcoholic including SCD soft drinks, fruit juices, snack food markets ◦ to various distribution channel e.g. supermarket, convenience stores, hospitality • current life cycles was growth, ◦ demonstrated by the consistently increasing growth in revenue of revenue in the industry shown in Table 4 and increasing growth in bottled water consumption shown in Table 3. 2. PEST external environment |Factor |Issue |Nature of impact |Assessment of impact| | | |(positive or |on future industry | | | |negative) |growth (low, medium,| | | | |high) | |Political |Threat of imports due to the high volume and low unit value of water. |Positive |Low | | |Import tariff 5 %...
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...21 IntCorp ch6-2.qxd 27/01/2009 11:59 Page 167 6.2 Corporate Governance in China Neng Liang and Michael Useem Corporate governance in China has undergone significant change during the past three decades as the Chinese economy has liberalized and developed. Prior to the historic reforms initiated in 1978 the economy had been structured as a state-owned, centrally planned economy; practically all enterprises were government or commune owned. Today, many companies are partially or wholly privately owned, and that historic change has brought a sea change in Chinese corporate governance, with securities policies well in place and governing boards well established. The first significant changes in company ownership came in the 1980s as small state-owned enterprises and collectively owned enterprises in rural areas began issuing shares to the public. As the reforms spread to larger enterprises, the rapid increase in companyissued securities led the Chinese government to swiftly create a capital market from scratch. In 1990 it authorized the cities of Shanghai and Shenzhen to establish national stock exchanges. The stock exchanges were tiny at the start: just 14 companies were listed at the outset, and in the early years state agencies and the listing companies kept some two-thirds of the shares out of the market. Company listing and trading volume rapidly increased in 21 IntCorp ch6-2.qxd 27/01/2009 11:59 Page 168 168 ᔡ PROFILES OF...
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...The Meaning of Privatization Copyright 1988 by Paul Starr. Seite 1 Readers may redistribute this article to other individuals for noncommercial use, provided that the text and this notice remain intact. This article may not be resold, reprinted, or redistributed for compensation of any kind without prior written permission from the author. If you have any questions about permissions, please contact the author at (609) 258-4533 or by e-mail at starr@princeton.edu. Preferred Citation: Paul Starr, "The Meaning of Privatization," Yale Law and Policy Review 6 (1988): 6-41. This article also appears in Alfred Kahn and Sheila Kamerman, eds., Privatization and the Welfare State (Princeton University Press, 1989). The Meaning of Privatization Paul Starr Privatization is a fuzzy concept that evokes sharp political reactions. It covers a great range of ideas and policies, varying from the eminently reasonable to the wildly impractical. Yet however varied and at times unclear in its meaning, privatization has unambiguous political origins and objectives. It emerges from the countermovement against the growth of government in the West and represents the most serious conservative effort of our time to formulate a positive alternative. Privatization proposals do not aim merely to return services to their original location in the private sphere. Some proposals seek to create new kinds of market relations and promise results comparable or superior to conventional public programs. Hence...
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...1 Entrepreneurship, Innovation, and Economic Development: An Overview Adam Szirmai, Wim Naudé, and Micheline Goedhuys 1.1 Purpose of the book Economic development requires sustainable and shared increases in per capita income accompanied by changes in the structural composition of an economy towards higher value added goods and more efficient production methods. Entrepreneurs can contribute to economic development by facilitating the reallocation of resources from less to more productive uses (Acs and Storey 2004), by performing ‘cost-discovery’, ‘gap-filling’, and ‘input-completing’ functions in the economy (Leibenstein 1968; Hausmann and Rodrik 2003) and by supporting structural change (Lewis 1954; Gries and Naudé 2010). These roles have recently been the subject of a growing literature (see e.g. Minniti and Naudé 2010; Naudé 2010a, 2010b, 2010c). A neglected function in this literature is the potential role of entrepreneurs as innovators in developing countries. Joseph Schumpeter pointed out a century ago that entrepreneurs are often innovators, bringing new goods and technologies to markets, opening up new markets, processes, and ideas, and commercializing new knowledge. But, it is often mistakenly suggested that innovation by entrepreneurs is less important for growth in low-income developing countries than in more advanced economies.1 A substantial literature has been devoted to understanding the conditions under which entrepreneurs innovate, and the nature and evolution...
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...Introduction: EGO Fashion is a privately owned clothing company located in Orlando, Fl. EGO Fashion provides unique high-end fashion for a more reasonable price that satisfies any ego big or small. I have been in business for 5 years started out as an internet company first, after two years of building cliental and reputation I opened my first store September of 2008 in the downtown Orlando area. My annual revenue is $150,000 after paying all the bills. I currently have 50 employees working for me in six different departments: Marketing Management Sales/ fashion Guru Research and Development Accounting and payroll Distribution Definition of Management: The definition of management is the way managers are able to motivate and lead employees to the pursuit of company’s goals effectively and efficiently. To be a successful company you must have a very organized and happy management team, because managers set the tone and mood for employees. In my company managers had to be able to follow before they can lead, as well as be people oriented, honest, outgoing, and disciplined. My company perceives management as both an art and science. The art side is the creative and stylish ways my company caters to your EGO we rely on our customers to provide feedback and there business. And the science behind EGO Fashion is the ability to use the scientific method to figure out if the company financially is going in the right direction, ways to improve the business, as well as solving management...
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...Promotion and Microfinance of Kanchan™ Arsenic Filter in Rural Terai Region of Nepal Water is the most precious of all the elements, Just as gold is the most valuable of all goods, And just as the sun shines brighter than any star. (Greek poet Pindar) Final Report July 2005 Majka Serafini Abbreviations and Acronyms ADBN Agricultural Development Bank of Nepal CMF Centre for Microfinance CRM Cause Related Marketing GBB Grameen Bikas Bank GBR Grameen Bank Replicator GNP Gross National Product H/H Household INGO International non governmental organization KAF™ Kanchan Arsenic Filter NRCS Nepal Red Cross Society NDM 2005 Nepal Development Marketplace 2005 NGO Non-government Organization RMDC Rural Microfinance Development Centre Ltd. RDB Rural Development Bank SACCO Savings and Credit Cooperative Society SFCL Small Farmer Cooperative Ltd. SFDP Small Farmer Development Program SOS Share Our Strength organization SROI Social Return on Investment TP Total Population TW Tube Well UC User Committee VDC Village Development Committee Country Profile Economic and Social Context Average GNP per capita Population Population density Literacy Rate % Approx. $240 25.3 million (est.) 172 inhab/km2 (est.) 53.74 (est.) Inflation 2004 2005 4.0% 5.5% 2 TABLE OF CONTENTS A. INTRODUCTION .......................................................................................................................5 POVERTY IN NEPAL ................................................
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...ACC 557 Financial Accounting May 16, 2014 Strayer University Dr. Greenfield Week 6 Assignment 2 You Are an Entrepreneur For my Entrepreneurship assignment, I have decided to utilize a florist for creating my business. The business plan will be for Passionate Moments Florist. Passionate Moments Florist is a proposed store front floral business that caters to walk-in customers as well as Internet based customers and telecommunication customers. Passionate Moments Florist will be located in the Time Square shopping center in Charlotte, North Carolina, near the new transit train station where the old Kate’s Roller Skating Rink use to be. It will be next door to the Quizo’s submarine restaurant in a small shopping mall. Passionate Moments Florist will service the residential community of Charlotte along with the many visitors that frequently visit the area for shopping as well as servicing the outlying counties; which are Cabarrus, Iredell, Union, Gaston and York counties. Passionate Moments Florist will also service any Internet based traffic as well as orders that will need to utilize the floral wiring systems such as Teleflora or 1-800-flowers. We will be recognized by the fact that we will offer special prices and arrangement on our novelty flower which will be the lavender rose. To give you a brief history of our novelty flower, the lavender rose has always captured my heart, which lead me to the decision of opening the business. Our colors...
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