...Early in the 20th century, Joseph Schumpeter, a Moravian-born economist, gave the modern definition of an entrepreneur as a person who destroys the existing economic order by introducing new products and services, by introducing new methods of production, by creating new forms of organization, or by exploiting new raw materials (Bygrave and Zacharakis, 2010). It was however, been taken into consideration that just very few organizations can achieve the scale implied by Schumpeter with regards ‘destroying the existing…order’ and ‘…introducing new products and services…’, and thus, a newer and more robust definition has been given for who an entrepreneur is. An Entrepreneur can therefore be described as an individual who discovers a market needs and launches (a) new firm(s) to meet that/those needs. They are risk takers who provide an impetus for change, innovation, and progress in economic life (Longenecker, 2008). It should be noted that this definition of an Entrepreneur is very broad, as it encompasses quite a lot but for the purpose of this report, we would limit the scope of an Entrepreneur to the Small Business owner/manager. The definition can extend as far as second-generation business owners who inherited a business, or saw the potential in an existing business and decided to acquire it. It could also extend as far as top-level managers in larger corporations, who go sourcing for business opportunities for the companies remunerating them. They, after all, identify...
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...Salle University March 27, 2014 Abstract Entrepreneurs have been around 1723 since then, they have been innovating, making new enterprises, and creating new job opportunities. The profession of entrepreneurs focuses more on the mainstream management approach, which revolves around materialism. On the other hand, a different kind of entrepreneurship started around 1960s and it is social entrepreneurship. Social entrepreneurship does not focus on the mainstream management approach, but focuses on the multi-stream management theory and practice. The research paper aims to find out the preference of De La Salle University (DLSU) Entrepreneurship students towards entrepreneurship or social entrepreneurship. The gathered information was conducted through a quantitative surveying of forty-two (42) DLSU Entrepreneurship students. Results showed that DLSU Entrepreneurship students are leaning more into the profession of entrepreneurship as mainly this profession has more profit and is much more viable compared to social entrepreneurship and that social entrepreneurship requires more knowledge. Keywords: entrepreneurship, social entrepreneurship, mainstream management, multi-stream management theory and practice, profession, profit Entrepreneurship and social entrepreneurship are two different professions. However, most people think that the difference ends with their social aspects but it is more than that. First, entrepreneurs are not just business managers, which they are often...
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...Idea in American Business If you're an entrepreneur, almost everything about "leadership" as we know it is bad for you. But there's another way to lead. Here are the rules. Maybe you've noticed: Never in the history of management science has leadership been more studied, worried over, theorized about, and debated than right now -- not least because for two years the world has supplied leaders-in-training with a (mostly unhappy) curriculum. The stock bubble collapsed. The economy soured. September 11 came and begat whole new anxieties that prompted unprecedented questioning about vocational life and leadership in communities of every kind. Corporate scandals and greed brought CEO reputations low and raised ethics concerns high. And nowIraq. Throughout the contentious diplomatic run-up and then during the conflict itself, leaders were dissected everywhere. You'll recall the stories. Bush the autocratic unilateralist vs. Blair the participative consensualist. Rumsfeld vs. the generals. Churchill circa 1942 vs. all of the above (an op-ed smackdown that somehow Winny always wins). By the time this is published, there will have been more stories: How to lead. How we're being led. How we want to be led. The world's curriculum, like it or not, is rich with object lessons. The problem is that, for entrepreneurs, those lessons are all wrong. Not because they're necessarily bad in themselves, but because they're all to do with the wrong kind of leadership. Almost the entire fevered...
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...What do you think motivates individuals to become entrepreneurs? | University Of Strathclyde | Glasgow | | | Andreas Achilleos | 2/5/2016 | | Owning a business requires a lot. There are more necessities to beginning and keeping up a business today. The initial step is planning. You cannot build a business overnight. Bill Gates on the other hand made it big overnight in 1979, when he created Windows; an interactive desktop interface. Unfortunately though, not every entrepreneur is as fortunate as Bill Gates. An entrepreneur is a man who composes and deals with a business undertaking and sharing a danger for the sake of profit. The main choice an entrepreneur must make is what kind of business he or she needs to begin. The entrepreneur needs to consider his or her knowledge and expertise that they have in the field. The most evident case of enterprise is the beginning of new organizations. The Entrepreneur and teacher Jon Burgstone and writer Bill Murphy, Jr. Of Stevenson’s definition, Burgstone says, “people often need to say it out loud 50 or 100 times before they really understand what it means.” Here it is: Entrepreneurship is the pursuit of opportunity without regard to resources currently controlled. No two entrepreneurs are the same, and if you ask a few what made them invest on an idea they had, chances are that you will get a lot of different answers. Most entrepreneurs believe that the thing that intrigues them to be more successful, is the feeling...
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...informational, so I chose “think entrepreneurship” podcast. It is well design and managed with problems sound clarity and some technical problem, some improvement can be done to make them even better. Maybe I found it interesting because of me being a business major, or because I like to hear stories of different people how they became success, and what kind of hardships they have to go through to achieve their goals. Think entrepreneurship episode 4 The podcast was 20 minutes long and audience were any one who is interested in entrepreneurship. It served the audience pretty good because interviewer was an entrepreneur and sharing his story of success, which could be very help to people who wants to be an entrepreneur. The content of all of the podcast is to interview different entrepreneurs, so it started well with the interviewer introduction and with some intro music and advertisement. He introduces the entrepreneur who was about to be interviewed. The one problem I noticed was there was a lot of background noise, kids speaking, typing, mouse clicking, and breathing sound. Moreover I think microphone was placed kind of far from the interviewee, because the sound was not that clear as it should be. I can also hear when they move the microphone. There was a lot of reverb in the podcast. It ended with outro music, but kids noises and speaking in background was almost in whole program. To improve the podcast they could have done is to do it in a quite place, or edit it...
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...Literary Analysis of Death of a Salesman By definition, an entrepreneur is a person who organizes and manages any enterprise usually with considerable initiative and risk. Although different entrepreneurs have different accomplishments, they all have some personality traits in common. In The Death of a Salesman by Arthur Miller, Biff and Happy do not have the integrity, willingness to learn, and commitment to a venture required for entrepreneurs. Alexander Becker, a distinguished business journalist, wrote in his article that “Your business depends on your integrity while your integrity depends on delivering what you promise.” It is important that Integrity is embedded within the entrepreneur and his business that customers can easily distinguish it and are easily drawn to it. However, this essential trait of an entrepreneur is not seen in either of the Loman brother. Happy has great capacity for self-delusion; being only an assistant to the assistant buyer, he constantly brags to his family that he is the assistant buyer at his store. When Biff tries to free him from this self-delusion by saying that “you’re one of the two assistants to the assistant, aren’t you?”(Miller 131), the statement “Well, I’m practically…” (Miller 131) indicates that he is still attempt to cover up the exposed truth. In another occasion, he tries to lie to Linda that Wille had a great dinner with them by saying that “Boy, what a night you gave me!”(Miller 124) Even though he is aware that Linda...
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...Globalization Seminar, Spring, 2015 Starting a Business in Taiwan (April 17, 2015) Speaker: Elias Ek (CEO and Founder@Enspyre) Epilogue I think this seminar is really good for our international classmates who want to start their business in Taiwan. I feel Elias shared what would be the potential obstacles you might face when international students would like to open their own business and other hand, he also encourage us to do it whatever you like it. I like this kind of attitude: if you are doing something you really likes, you shall not give up easily until you try everything you could. In this seminar, Elias shares his past entrepreneur experience and I could feel his passion about helping young entrepreneur from what he did in past years. (Consecutively invite government officers to exchange idea to let both sides know how to make entrepreneur resource better and better in Taiwan. I could strongly feel what a real entrepreneur it is from what Elias said, he thinks we should work 24 hours a day, or it really wastes of his time. I fully agree this and like this argument because if you are doing something you really enjoy, you will not think you are working even though it is not working hour. Instead, you will fully of energy to support you finish what you want to do. From the feedback Elias answers our questions, I could feel Elias must put lots of resource and time to figure out what is the best business operation model for Enspyre through lots of failure...
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...Limited. This publication is not endorsed or approved by AQA. Tutor2u Limited Boston House 214 High Street Boston Spa LS23 6AD Please contact jimriley@tutor2u.net with details of any errors, omissions or suggestions for future editions. © Tutor2u Limited All Rights Reserved www.tutor2u.net AQA AS Business Studies Unit 1 (BUSS1) Course Companion Contents Introduction to AQA AS Business Unit 1 .....................................................................6 Section 1: Starting a Business ......................................................................................7 Enterprise and Entrepreneurs .......................................................................................8 Introduction ......................................................................................................................................... 8 Entrepreneurs ..................................................................................................................................... 9 Motives for starting a business ........................................................................................................... 9 Downsides of starting a business ..................................................................................................... 10 Risk and reward ................................................................................................................................ 10 Opportunity cost...
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...The SME products and functions of Prime Bank Limited [pic] Bangladesh University of business and technology (BUBT) The SME products and functions of Prime Bank Limited Prepared for: Md. zakir Hossain Lecturer Department of finance Bangladesh University of business and technology (BUBT) Prepared by: The extreme’z |SL No. | Name |Roll no. | |01. |Md. Safiul hasan |10113101056 | |02. |Ayesha siddika |10113101057 | |03. |Md. imadul haque khan |10113101075 | |04. |Fatema-tuz-zohora Tama |10113101077 | |05. |Farzana Anower |10113101090 | Intake: 25th section: 02 program: B.B.A Date of submission: 10th September, 2011 Date: 10th September, 2011 MD. zakir hossain Lecturer Department of finance Bangladesh University Of business and technology Dear Sir, It is our pleasure to submit the report on “The SME products and functions of Prime Bank Limited” as requirement of BUS-101...
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...business entrepreneur and social entrepreneur may want to play an important role in order to develop what it is best for the nation. In this essay, I will discuss the terms of business and social entrepreneur, and discuss the relevant topics consecutively. An entrepreneur is a person who has creative thinking and able to sacrifice in order to gain the profit (Baumol et al., 2009). These are the goals of the individuals who want to start up their own enterprise either becoming business entrepreneur or social entrepreneur. So what are the differences between these two terms? A business entrepreneur, according to Ian A Davis - a senior lecturer in marketing, focuses on profit motive. They tend to venture and take risk as the business changes. Also gaining benefit is their utmost goal of this business. On the other hand, a social entrepreneur emphasizes on social motive. These individuals are willing to contribute themselves to make the “social transformation”. But can an entrepreneur combine both economic system and social factors together? There are lots of questions and criticizes whether business entrepreneur or social entrepreneur can give satisfying results in solving the business crisis. Some people believe that it’s business entrepreneur, while others insist that it’s social entrepreneur. However, there are some groups of people say that both business and social entrepreneur can increasingly raise the economic in a better way. In my perspective, an entrepreneur should...
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...Joseph Alois Schumpeter (Triesch, Moravia, February 8, 1883 - Salisbury, Connecticut, January 8, 1950 (age 66)) is an Austrian economist mid twentieth century, known for his theories of economic fluctuations, creative destruction and innovation . He is the author of a History of Economic Analysis, published in 1954 and still refers. Neither Keynesian nor neoclassical, is often close to the Austrian School of Economics. It is considered economist excitement and it is called heterodox economist for his theories on the evolution of capitalism in democracy, he believes doomed to disappear for social and political reasons. Schumpeter leaves hardly classify an economic school. Whether it was Austrian , he has never been part of the Austrian School with which he was familiar with the teachings of Eugen von Böhm- Bawerk at the University of Vienna. The economist he admired most was undoubtedly Leon Walras , but his analysis goes beyond the neoclassical framework . He was also heavily influenced by the writings of the German sociologist Max Weber. And if he shared some conclusions with Karl Marx, his analysis was very far from Marxist economic designs. Is actually the founder of general economic evolutionism . It is therefore listed in the circle called "heterodox" economists. He believes that the foundation and spring dynamics of the economy are innovation and technical progress. The history of capitalism is a permanent moult. Technology evolves, turns pushing swathes of...
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...- Burton W Folsom JR, professor of History and Management at Hillsdale College in Michigan, describe in his book “The Myth of the Robber Barons” the role of key entrepreneurs in the economic growth of the United States between 1850 and 1910. Portraying large businessmen behind America’s greatness. - In the Chapter 4 is told the life of Charles Schwab, grandson of immigrants in a modest family and who could not fail. It is from Loretto Pennsylvania that the story debuts and take a turn as Charles Schwab decide to leave his hometown, at the age of 17, to Carnegie’s mill. This is where he will quickly advance in the organization to become “Carnegie’s problem solver” and in 1897, at his 35 years old, becoming President of Carnegie steel and manage...
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...Indian Institute of Management Calcutta (IIMC) “It’s time to care; it’s time to take responsibility; it’s time to lead; it’s time for a change." ― Steve Maraboli Stefania Lanfranchi stefania.lanfranchi@student.unisg.ch CEMS MIM BLOCK SEMINAR on SOCIAL ENTREPRENEURSHIP Prof. Devi Vijay Number of pages: 10 Kolkata, September 23rd 2013 CEMS MIM BLOCK SEMINAR Prof. Devi Vijay Indian Institute of Management Calcutta Stefania Lanfranchi Introduction This paper constitutes a reflection on my learning gains as a consequence of attending the CEMS MIM BLOCK SEMINAR 2013 at the Indian Institute of Management Calcutta. In the fol-‐ lowing, I identified five topics, which to me, have contributed greatest to my intellectual and personal development. Notwithstanding, I will neglect certain...
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...What factors each entrepreneur needs to take into account to ensure business success? As an entrepreneur, there are many factors that need to be taken into consideration in order to ensure business success. First, an entrepreneur has to take into account the location. A location is a vital element in starting a business. It might be a country, region, or a locality. However, the location has to be strategic enough to accommodate the business and be economically viable. The second factor in my perspective is the population. Every business needs a viable population to thrive. For instance, if an entrepreneur conducts a business in a country densely populated, all the entrepreneur need is a niche of that population to succeed in that business. Another factor each entrepreneur should consider in order to ensure success is the issue of a construction permit. Construction is a necessity for a company. It helps the government to ensure that a company is constructing a structure that will not pose any risk for internal and...
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...journey in 2001 and in just 12 years proved to country’s fastest growing bank. The Bank operates under a "double bottom line" agenda where profit and social responsibility goes hand in hand as it strives towards a poverty-free, enlightened Bangladesh. BRAC Bank Limited is a scheduled commercial bank in Bangladesh. It established under the Banking Companies Act, 1991 and its operation started on July 4, 2001 with a vision to be the market leader through to providing all sorts support to people in term of promoting corporate and small entrepreneurs and individuals all over the Bangladesh. Just as BRAC Bank has a corporate identity, they have a social identity too. As a Bank they are socially responsible. Fifty percent (50%) of BRAC Bank’s loan portfolio is diverted to Small and Medium enterprise Banking, and as a financial intermediary they channel funds from the surplus end to the needy. Country-wide network of SME Units centre to the end of small entrepreneurs to help them build their asset base. BRAC Bank is market leader in SME, striving for socio-economic upheaval in Bangladesh. The bottom line is, BRAC Bank do not support any finances that are detrimental to our environment. Some Important Features: * A portion of BRAC Banks revenue is channeled to support BRAC schools, where children study for free. 70% of these children are female. * Fastest growing Bank in the country for the last three years; * Leader in SME financing through 460 offices; * Biggest suit of personal...
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