...In the business world, there are a number of interlinking factors to achieve certain goals such as the most important goal, attaining industry success which directly relate to the economic development of a country as well as the global economy. In such a relationship, entrepreneurship with innovation is the major driving force behind the sustainable economic development and thus, entrepreneurs play the key role in manipulating the factors of production that include land, labour, capital and also the natural resources (Econlowdown, n.d.) to cause economic growth. In short, entrepreneurship contributes to the economic performances by introducing innovations, effectively allocating resources and creating changes. Hence, the aim of this essay is to discuss the nexus of entrepreneurship, innovation and economic development as well as the role that creativity and problem solving play in this relationship. From the business point of view, entrepreneurship is referred to the capacity and willingness to develop, organise and manage a business venture along with any of its risks in order to make profit by using the factors of production (BusinessDictionary.com, n.d.). Clearly, entrepreneurs are the people with particular characteristics and traits of behaviours whereas entrepreneurship is the result of what entrepreneurs do and refers to events and their economic impact (Lumsdaine and Binks, 2006). Innovation on the other hand is one of the key tools that could assist entrepreneurs...
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...In this essay, it would be found out that the relationship between entrepreneurship, innovation and economic development is a multidirectional cycle, which means that they affect each other in two directions. From one direction, when there is a problem entrepreneurs would use innovation which comes from creativity to solve it by entrepreneurship. Innovation deliveries new industries or get exist industries developed and both of those actions will lead economic to develop. The births of new industries encourage people with entrepreneurship to organize new economics. From the other direction, the development of economic absorbs new investments. Those investments include not only labour, land and capital, but also innovation which can improve the new good or service. The development in new industry can also offer money or other capital to encourage people with creativity to innovate. Innovation can be protected by entrepreneurship because it relies on innovation. As Thomson Edison* said, his inventions were from seeing a worthwhile need to be met and trailed after it until it came. So it can be seen as innovations are from solving problem and creativity. As an entrepreneur, spotting a problem and turn it into opportunity by creativity is called entrepreneurship. Entrepreneurship sets innovation to processing first and then gets profits from economic development. As Bolton and Thompson (2000) has recognized, entrepreneurship is about change and innovation. So every entrepreneurs...
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...TITLE OF MODULE: Entrepreneurship and Business (N11440 MY) Title of Work: Discuss the relationship between entrepreneurship, innovation and economic development. What role if any do creativity and problem solving play in this relationship? Refer to both theory and examples from the business world to support your discussion COPY 1 TITLE OF MODULE: Entrepreneurship and Business (N11440 MY) Title of Work: Discuss the relationship between entrepreneurship, innovation and economic development. What role if any do creativity and problem solving play in this relationship? Refer to both theory and examples from the business world to support your discussion COPY 2 Austrian writer, professor, management consultant and self-described “social ecologist,” Peter F. Drucker once said “Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth.” (BrainyQuote, 2014) This essay aims to show how innovation, entrepreneurship and economic development are all linked together as shown in the statement above. Even though many a time the spotlight has been shined on entrepreneurship as the propellant towards success, there are still many factors that have to be taken into account such as creativity and problem solving skills. These all shall be the foundation of this particular essay. Entrepreneurs...
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...Chapter 1 THE PROBLEM AND ITS SETTING Introduction This research deals on the common factors that affect the study of BEED-2ND year students and their academic performance. These factors are the problem of the 2nd year BEED students in their studies. It has been an interplay of so many factors on gender, IQ, study habits, age, year level, parents educational attainment, social status, numbers of sibling and etc. This research focuses on the factors that affect the studies of BEED-2nd year students and their academic performance. These factors can help students on how to face these problems in their studies. This study also can help the parents and the teachers understand the problem of their students. Furthermore, this research helps us as a future teacher because if we know the problem of our students we can understand them clearly especially on financial aspect. Theoretical Framework One of the problems that besets our educational system is poor study habits several studies found this problem challenging and therefore, efforts have to be exerted in order to determine the root cause. According to Lass and Wilson(1965), students fails not because they do not have intelligence to understand why they are studying, not because their lesson are too difficult for them but because they do not know how to study or understand what study means. Students failure in his academic subject may not be to lack of intellectual capacity, but perhaps it may be due to negative attitude...
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...of the extremely poor relationship amongst the employees. Not only was the division visible within the organization but the lack of leadership and direction played a role within the dysfunctional organization. Although many company’s can operate within dysfunctional environments but harassment has a different effect on an organization. Basically, Johnson’s behavior towards employees within the environment were unbearable. It seem like it created a hostile work environment for employees, which proved to be detrimental to the organization. The micro issues were those stated to include the loss of members, the difficulties within the chain or command, and poor staff morale. Heavens was unable to talk to his superior and the non-interest in problems within the company. All of the micro and macro level problems were potientially caused by no recognition or follow through for the staff and/or on the behave of staff. Employee’s passed over for promotion and relationships between staff negatively effecting goals of the organization and the morale of the staff. Not only were there several distractions within the environment, but retirement of an employee contributed to the problems. I recommend before Bob retire the organization attempts to pull it together and establish a meeting in order to put all the issues out on the table. Along with establish courses of action to fix the problem. If that does not work, the organization should wait and explain the problem to the new director....
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...doing so well in her responsibilities that the CEO himself was interested of having her in the company. He even proposed her to lead a new and special project in the marketing department. Later on, she got another job offer in a different and bigger company, the Potomac Waters. From that time, her main challenge was to choose between these tow companies. Both have their advantages and inconveniences, which we will be talking about more in detail later in our study. Finally, she decided to work for Potomac Waters as the assistant product manager. However, as she stated working, things aren’t going as she expected, and problems got bigger and bigger as time passed by. After few months working there, she started doubting about her decision of working there. Did she take the right decision? This study will help us answer this question throughout the study. The problem started from the beginning when she was still making the decision of choosing either to work for Deep Dive Pizza, where she had her internship or at Potomac Waters, a way bigger company with more potential in the market. Before she decided to work for Potomac Waters, she went to get information from the company, by visiting the industry itself and meeting the employees from different departments. She was so in love with the way the employees work and welcomed her that she would hesitate to work there anymore. Her vision of the company and the way they work was yet still broad. Like all decisions made, there are always...
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...I will be stating the various problems that are possibly facing human services clients and how the specific helping skills can be used with clients. There are a variety of issues a human service professional faces with their clients. Client problems are rarely limited to just one, single issue. One problem alone can lead to other problems and the human service helper should always keep this in mind so that specific helping skills cam be implemented to serve the clients' needs. These issues can range from substance abuse, mental and physical illness, grief, disabilities, caring for children and families, domestic violence, and many other issues. All these issues are multi- faceted and can be very difficult to help with.( R. Woodside & T. McClam,2011) Assisting with client's problems requires gaining the trust of the client. This is important for gathering information so the helper can give the best and most effective help they can.(R. Woodside & T. McClam, 2011) to do this, a human service professional uses helping skills to assist their clients. Basic skills are verbal and non-verbal communication, and listening and responding. Correctly using these skills they can help form an easy flow of helpful information and an effective helping relationship with the client. These are the foundations to the human service professional and client relationship. Problems No one person has just one problem, and there are plenty of clients to go around ( Bureau of Labor Statistics, 2011)...
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...Analysis of the case Lisa Benton As this case portrays the problems faced by Lisa Benton in her company Houseworld it somehow also accented on certain characteristics of human behavior like possessiveness, fear of losing position, future concerns regarding progression & obstacles associated with that progression. Lisa Benton was frustrated and dissatisfied about her job in Houseworld where she started by a lack of responsibility, and poor relationships with her boss, Linton, a colleague Scoville and recently with the reveal of her negative performance review. Since she is not accepted by her team she felt that while having not enough responsibility and room for her execution she didn’t prosper in this company. She also not went through the marketing training which most attracted her to this company at the beginning. Benton was concern of her career in Houseworld and was thinking of calling her former supervisor Kingston, of Right-Away Stores, whom she had previously turned down an appealing offer. There are three major relationships, with Linton, Scoville and Vernon, that shaped up Benton’s current circumstances. If Benton had deal with them with different ways, it may lead to some different result. Because of policy of the Home Care Division, the recruiting practice emphasized recruiting MBAs from top-notch schools for entry-level marketing positions. This decision makes it difficult for Linton, also Scoville to be promoted as they thought that they were not having...
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...Item #1 Problems: * Emergency meeting at 3:30 * Has to find a way to finish work for the day and catch a flight at 11:30(most important) * Has no secretary The most important problem would be catching the flight for the meeting in Chicago since it’s an emergency and work related. Solutions: Getting work done for the day on the air plane on the way to the meeting. Call the secretary to find out at least some of the info for the meeting. Item#2 Problems: * Internal politicking in the company * Finding someone to replace F.T. Dickenson * Dealing with eliminating his overtime hours The two most important problems would the politicking, because someone else may feel the same way and decide to leave the company too. Also, finding someone to replace him and do his unfinished work in such a short period of time. Solution: Search for a new employee ASAP. Item#3 Problems: * Workers threatening to walk out over a co-worker * 10 votes to dismiss Foreman Edward George The workers are the most important asset to the company, so their interest should be first. Second, you have to figure out what to do about the votes to dismiss Ed George. Solutions: Talk to Ed George about his problems with his co-workers. Hold a meeting and get even more workers involved in the voting process, the take another vote. Item#4 Problems: * Overloading which can result in interruption of electrical power. * Not being reachable for Southern Power Solution: Contact...
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...and site visit. Foster’s management was so smooth--they indicated they could meet all our requirements. I feel like we’ve been mislead by this supplier. Susan: Didn’t you look at their processes and quality systems? Bill: Sure we did. Everything checked out fine. But now every other shipment has some problem and the delays are hurting our ability to get our product to our customers. What really struck us about this supplier was how innovative they were. Foster’s biggest drawback was their size--they lacked some depth at key manufacturing engineering positions. Maybe that’s why they are having problems. It could be that someone has left the company. Susan: We are going to have to address these problems quickly. Bill: I’ll tell you what I am going to recommend. We should begin immediately to look for another supplier. I never was a fan of these single source contracts. They leave us open to too much risk. Susan: But won’t that take a long time? Bill: Sure. We’ll have to perform another supplier search with team visits. New tooling could really cost, too. This could take months. Susan: Has anyone talked with the supplier about these problems? Bill: Kevin went over personally today and talked with the production manager. He didn’t have much time to explain, but he...
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...pressed to send a message to someone else in the company – electronic (possibly generates an email) * Digital display – visual * Management telling call centre staff that it is their problem – face to face or email 2. How can bad communication (9 in total) a. Damage the relationship between customers (3) * Customers’ upset as they are being chased for bills already paid * When they ring they are upset and staff do not have the answers for them * Workers then get upset at how angry the customers are and find it hard to deal with them * Customers may cancel take their business to another company * This could lead to a decrease in sales and therefore profit * The company reputation would suffer if customer service did not improve b. Demotivate workers (3) * Workers are upset by dealing with angry customers * The customers are angry because the systems and processes are not in place * When a message is sent “it is fairly random whether something is done about it” * Workers feel that managers are blaming them for waiting times being too long and that they are spending too much time with each customer * Workers feel that there are not enough staff to deal with the calls * Workers demotivate each other by discussing the problems at lunch time c. Create inefficiency in the workplace (3) * Processes are not in place so letters are sent in error (costing...
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...Self-rating I always deal with problems derived from either customer or colleague. Even I think I am dealing with the problems, I realise that I did not dealt with the thing correctly and if I do, why is the problem there? So, in recognizing problems, I will try to remember where a thing I did wrongly started to emerge. When I get the root of the problem, I will try to use different kind of alternative solution for the problem that might occur in the future rather than the same solution I use that is causing me problem. Also, I will consult those who have bigger experience in dealing with that same field of problem and ask them the tips and method to tackle the problem. That is how I will improve my problem in recognizing and defining problems. Talking about using my verbal skills, I noticed that I managed to deliver my intended message clearly and precisely to my target receiver as the objective are to give maximum understanding to the listener. My orders, requests or speeches are short, quick and precise. The problem is that sometimes, I forgot to observe the norms and ethics in speaking and so I abandoned the value and relationship between parties when dealing. To overcome that, I will need to slow down and think precisely about the pros and cons of what I am speaking and try to get used to it. I will also think as if I am in their shoes as the receiving parties. “Practise makes perfect”. This quote will motivate me that, by slowing down and think about the possible...
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...assignments , the Global HR Development devised a training program . Unfortunately , the training program appeared to be informal and ineffective in addressing the implications of managing human resources internationally such as cross-national differences in terms of culture and institutionalism . Undeniably , this problem exists in the organization as stated in the case of Fred Banks , an engineer who was assigned in Mexico and India consecutively . He and his team had encountered employee-relationship problems brought about by cultural differences . Government licenses and accreditations for the company were delayed because of this thereby resulting to longer expatriate assignments and higher costs . Cultural clashes cause employee-to-employee and employer-to employee relationship problems which result to decline in efficiency and productivity . Moreover , Juanita Roberto , the Vice President for Human Resources Department , is proposing a cut in the training programs expense and shorter expatriate assignments . A cost-cutting scheme is being pushed by the VP which makes it more difficult to address the current problem . To address this problem , a thorough training program should be formulated to prepare an employee in his international assignment . A comprehensive study on the country 's culture , history , business practices and language should be integrated in the pre-departure training...
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...may appear in the Performing stage because the other team members were handling their part of the paper, the professor advised the team that they must deal with the problems within the group first. Christine skipped the Forming stage and based her opinion of her team mates on what she observed about them. Had she got to know them by meeting with them together or one on one, she could have gotten to see if her observation were accurate. It would have also given the team am insight on any outside issues that may affect the team. There was also no relationship with the entire team. Problem Identification The team was aware there was a problem with Mike’s participation (already identified as a clown based on Christine’s observation), but he was approached about his behavior and lack of contribution to the team. Christine may have been an organized hard working student, but she seems to lack skills in dealing with conflict. It became a big deal to Mike when he assumed that the team was meeting without him. Even after explaining the impromptu get together Mike still believed what his eyes saw and distanced himself again. Any of the team members could have reached out to Mike to get him to understand. There was clearly hostility within the team and it was coming from one source. This made it apparent that the problems were getting worse and the team’s project was at stake if nothing was to change about Mike’s behavior. Retrospective Evaluation The disconnection between the...
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...are generally considered to be a positive letter. The recipient will receive the information in a positive fashion. A letter of complaint is usually considered to be a negative letter. The recipient might receive the information in a negative fashion. Therefore, it is important that you choose positive language to help buffer the impact. Here are some suggestions for writing a complaint. 1.- explain the problem in the first sentences. 2.- remember that you are unhappy with the company, not the reader. 3.- keep the tone professional, not informal. Do not use a lot of emotional words (e.g. terrible, the worst). 4.- you may want to include a positive sentence about the company or your previous experience with the product. 5. Be specific about what action you are requesting. 6.- if this is a very serious complaint, explain what additional action you will take if the company does not take care of the problem. The language of complaints. It is not possible to predict specific complaints, but here are some expressions generally used to describe problems with products or services. Adjectives. One part was missing/broken/damaged. It is defective. Our order was incomplete This is unacceptable/unsatisfactory. We are disappointed with this quality I was very disappointed that this happened The unit is too large/small for our needs The quality...
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