...Full and Part-time Entrepreneurship and the supply of entrepreneurial effort: evidence from Mexican microenterprises (Alejandro Mungaray and Martin Ramirez-Urquidy) Definitions and explanations: * Full-time entrepreneurship: more than 75% of total income * Part-time entrepreneurship: max. 75% of total income * Less frequent in developed countries due to higher wages, thus making jobs more rewarding at any level of human capital * More frequent in developing nations due to low education level, scarce job opportunities, high informality, limited social welfare * Micro-Enterprises: max. 10 employees, including the owner, mostly just 5 employees * According to Liedhom (2002) 17 – 27% of labor force in developing countries work in this type of ventures * Perrry et al. (2007) suggest that considering only informal jobs it’s about 75% of labor force * Latin America: poverty rate of people engaged in micro-enterprises levels around 25% vs. 12% for people not working in these kinds of ventures Aspects influencing entrepreneurship: Pecuniary: human capital, social capital, labor market experience, family background in business Non-pecuniary: also determine wage, thus influence the probability of starting a business: * Sex: females face lower wages * Flexibility: to take care for family and children women prefer a flexible schedule * Marriage: support from spouse at lower costs and higher marginal profits; more children...
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...Entrepreneurs are born and not made An entrepreneur is ‘a person who has possession of a new enterprise, venture or idea and assumes significant accountability for the inherent risks and the outcome.’ So are entrepreneurs born? Or made? There have been many debates from businessmen to academics alike on whether entrepreneurs are born or made, but is it as straight forward as that? In this essay I will evaluate arguments both for and against this statement and conclude it with my own personal observation. The argument for this statement that entrepreneurs are born is a scientific one, with the questions being are there specific entrepreneurial genes and/or chromosomes. Some of the characteristics credited to entrepreneurs include extroversion, risk taker, persistence, independent, innovative, opportunistic and the need for achievement. These skills are the reason many believe they are from nature as they go above and beyond those of an ordinary office manager. Many believe that these are skills are innate in a person, that they are born with them and they are skills and characteristics that cannot be taught. (Scott Shane, wall street journal) ‘40 percent of the variation in the tendency to be an entrepreneur is inherited.’ Some people say that not anyone can become an entrepreneur; they have to have the right innate qualities from birth alongside the external influences for their talents to be recognized in business. “If the environment is not conducive then entrepreneurial talent...
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...Selected Thesis Topics for BScBA students Bachelor´s Thesis 2013-2014 Please use this list of the fields of International Business for thesis work and potential thesis topics when choosing and informing us the field of your thesis + the thesis topic in the form Indication of Interest Area for Thesis 2013-2014. Part 1. Thesis topics for companies and other organizations We have first listed the thesis projects that are available to do for companies and organizations. If you are interested in these projects, please mark the topic to the Indication of Interest Area form the same way than any other topic. It should be noted that the students selected to do the thesis from these topics must be motivated and committed for the work. Please do not contact these organizations yourself before the selection process has been completed for all students. More information on topics can be asked from Mari Syväoja or Tomi Heimonen. Organization: Thesis Biofenno projects for (www.biofenno.fi) companies and organizations Selected Thesis Topics for companies and organizations Internationalization plan Plan how to take and promote product Tuovi Tuotevirtakirjanpito to EU markets. Tuovi Tuotevirtakirjanpito is a stock and feed recording program for organic farmers. It produces necessary stock and feed reports for annual inspection. Also stock balance reporting benefits farm managements. Because Tuovi Tuotevirtakirjanpito complies with all the regulations EU has set for organic farmers, it has...
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...“Entrepreneurs are born not made.” Critically analyse this statement with reference to the literature and to your experience of entrepreneurship. This essay aims to evaluate the various traits identified with entrepreneurs, and then establish whether entrepreneurs are born with these traits, or whether, they are shaped and developed through their life experiences. Put simply the purpose of this essay is to establish whether entrepreneurs are ‘born or made’. This essay focuses on two distinct schools of researchers in the field of entrepreneurship: The more traditional group of researchers has focused on the personality characteristics of the individual, the internal factors, whilst a second group of researchers have taken a social cognitive approach. They look at the relationship between an individual and his or her environment. The external factors include culture, role models, work experience, education, and environment. This essay looks at the early definitions of an entrepreneur, evaluates the literature which supports the theory that entrepreneurs are ‘born’, and also evaluates the proposal that there is a relationship between the individual entrepreneur and their social environment, that is, entrepreneurs are ‘made’. Cantillon (1756) defined the entrepreneur as engaging in business without an assurance of profits; thus the bearing of risk being the distinguishing feature of an entrepreneur. Jean Baptiste Say expanded on this by making the entrepreneur the pivot of the...
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... * Having the tenacity to push an idea through to reality Creativity and innovation General management skills, business know-how, and networks Low High High INVENTOR ENTREPRENEUER PROMOTER MANAGER, ADMINISTRATOR Classical Econ. Vs. Entrepreneurship * Entrepreneurship deals with “disrupting” the existing equilibrium, by creating a new firm/product/service... * Differs from the classical economics viewpoint : In an ideal economy… -Firms cannot influence prices -Products are homogeneous -No entry barriers -No transaction costs -Profits tend to zero “0”… Becoming an entrepreneur Essential ingredients to become an entrepreneur: * The vision to recognize opportunity where others see chaos, contradiction, and confusion. * The fundamental skills of building a solid business plan. * The ability to formulate an effective venture team; the creative skill to marshal needed resources. * The willingness to take calculated risks—in terms of time, equity, or career. Entrepreneurs and Age What is the relationship? * Studies show that successful entrepreneurs are likely to be older than unsuccessful entrepreneurs, and have at least 8 to 10 years of experience in the field in which they venture. Age Distribution for Starting Company Ability Age ...
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...320 EXAM REVIEW Difference between managers and entrepreneurs? |Characteristic |Entrepreneur | | | | |Manager | |Behavior |Desire for control |Delegation of Authority | |Management Style |One-man show |Management Team | |Driving Force |Creativity & Innovation |Organize and maintain what exists | |Organizational Growth |Rapid Reaction to opportunities |Medium/Long term Strategic Planning | |Organizational Structure |Informal and flexible to adapt to changes |Organized, formal, rigid org. structure | |Decision-making |Based on their intuition and gut feeling |Collect info& seek advice from inside and outside | |Description of Company |In terms of “vision, dream and mission” |In terms of market segments & profitability | |Attitude to Money ...
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...Entrepreneurship PBSB 821 Bezuidenhout, P.J. 1224 6093 Botha, Desere 2250 2556 Buys, Johan 2049 8705 Kleynhans, Wessel 1251 7755 Schoeman, Willie 1032 6065 Van Wieringen, Anton 1231 8388 Wohlfahrt, Andre 2255 3533 Chicken Run Class Group Assignment Lecturer: Prof. S. van der Merwe Due Date: 30 July 2011 Entrepreneurship PBSB 821 Bezuidenhout, P.J. 1224 6093 Botha, Desere 2250 2556 Buys, Johan 2049 8705 Kleynhans, Wessel 1251 7755 Schoeman, Willie 1032 6065 Van Wieringen, Anton 1231 8388 Wohlfahrt, Andre 2255 3533 Chicken Run Class Group Assignment Lecturer: Prof. S. van der Merwe Due Date: 30 July 2011 Roxanne Quimby & “Burt’s Bees” Roxanne Quimby & “Burt’s Bees” By Bezuidenhout, P.J. 1224 6093 Botha, Desere 2250 2556 Buys, Johan 2049 8705 Kleynhans, Wessel 1251 7755 Schoeman, Willie 1032 6065 Van Wieringen, Anton 1231 8388 Wohlfahrt, Andre 2255 3533 Module: Entrepreneurship Module Code: PBSB 821 Group: Chicken Run Assignment due date: 30 July 2011 Module: Entrepreneurship Module Code: PBSB 821 Group: Chicken Run Assignment due date: 30 July 2011 Element: | Mark: | Question 1 | | Question 2 | | Question 3 | | Question 4 | | Question 5 | | | | | | | | TOTAL | | Contents Question 1 ~ Who can be an entrepreneur? 3 Question 2 ~ Risks, rewards and trade-offs of a lifestyle...
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...1 LESSON- 1 ENTREPRENEUR AND ENTREPRENEURSHIP Dr. Jyotsna Sethi STRUCTURE 1.0 Introduction 1.1 Objectives 1.2 Entrepreneurship as a Career Option 1.3 Concepts and Definitions 1.3.1 Entrepreneur 1.3.2 Entrepreneurship 1.3.3 Enterprise 1.3.4 Difference between Entrepreneur and Entrepreneurship 1.4 Role of Entrepreneurship in Economic Development 1.4.1 Entrepreneurship and Economic Development 1.4.2Entrepreneurship and Education 1.5 Functions of an Entrepreneur 1.6 Innovation 1.7 Risk and Uncertainty Bearing 1.8 Organization 1.9 Functions Performed by an Imitator Entrepreneur 1.10Entrepreneur vs. Manager Relationship 1.11 Summary 1.12 Glossary 1.13 Self-Assessment Questions 1.14 Further Readings 1.0 INTRODUCTION Do you know that there are millions of unemployed youth in the country and by the time you graduate, this number would have increased substantially? Do you want to be part of that group which keeps knocking from pillar to post, checking with employment exchanges, relatives, friends, and neighbours and still not able to get a job to their liking and then settle for a second or third rate job? You can also choose to be like Mr. Patel of Nirma who was a chemist’s assistance and has a Rs. 2500 crore company today. Did you know that the original Mr. Bata was a cobbler? And now has stores in more than 30 countries all over the world. Or...
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...Formal Research vs Business Proposal Latasha Jenkins MGT 600-1102A-06 Dr. Hal Graff May 1, 2011 Abstract In this paper, I will compare formal research and business proposals and maintain that formal research is academic in nature while a business proposal has a more practical orientation to it. I will also discuss the most important difference between formal research and business proposals is that formal research has no financial implications while financial implications are the most important characteristics of business proposals. I will also point out that the main objective of a business proposal is to identify a need which must be addressed in order to generate either financial savings or greater revenue, while such financial implications are not relevant in formal research. Formal research is not concerned with generating findings that are practicable. I have concluded that formal research generates a wide variety of findings that may be made applicable in a wide variety of contexts. Further, I also noted that the advantage of business proposals is that they contextualize the findings from formal research in an existing organizational structure. Business Proposal vs Formal Research 1. Introduction Formal research basically is a systematic and organized effort to investigate a specific problem or test a hypothesis. The goal here is to find answers to the issues that concern managers at work which is done in a controlled environment...
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...EXECUTIVE SUMMARY In the 21st century, entrepreneurship becomes a new trend. Many universities and colleges offer entrepreneurship as a major. Due to government’s incentives, self-employment rate among the Malaysian undergraduates has gradually increased over the years. This study intends to examine the entrepreneurial intention among Malaysian undergraduates. Based on previous study, 99.9 percent of all businesses in the United States are small businesses, with three‐fourths representing the self‐employed, self-employed has become leading components of our economy (2006). Entrepreneurs would also be considered as job creators since they need to hire employees working for their businesses. Young undergraduate could choose self-employment as their occupation due to financially affluent background. By using the advantage of lax security and tax system for self-employed, undergraduate could decide to open their own illegitimate business or to earn more profit by avoiding tax charge. In this research, we study the scope of undergraduate students who run their own business. The main aspects that will be examined is how they run their business, what motivates them to do so, how they cope with balance of studies and business through interviewing. This study draws its concepts and findings primarily from interviews with 7 purposive respondents who are currently self-employed full time students. Based on the results of the study, the family background is quite influential...
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... 1.0 INTRODUCTION No extensive empirical study on the sources of entrepreneurial opportunities included the individual, the environment and the individual’s start-up activities in a post-socialist periphery. However, such layered approaches have been encouraged in theoretical studies of entrepreneurship. Bouchikhi (1993) claims that each approach taken separately has crucial weaknesses and neither the personality of the entrepreneur nor the structural characteristics of the environment illuminate the process. Thus, multi-leveled studies have been encouraged in research programs (Low & MacMillan, 1988). In my previous paper, I attempted to examine the different forms of entrepreneurship by using the interplay between individual personality traits and capabilities and the institutional environment. The goal of this paper is to examine the sources of entrepreneurial opportunities from the perspective of individual and environmental factors. Since opportunities define how the entrepreneur behaves and what kinds of entrepreneurship are manifested, entrepreneurial opportunity discovery and exploitation are two integral parts of the entrepreneurial process.[1] The field of entrepreneurship has two general perspectives on entrepreneurial types and the sources of entrepreneurial opportunities: the Schumpeterian and the Kirznerian perspectives. Schumpeter saw the entrepreneurial opportunity anchored in the alpha individuals of society who are responsible through their superior capabilities...
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... 1.0 INTRODUCTION No extensive empirical study on the sources of entrepreneurial opportunities included the individual, the environment and the individual’s start-up activities in a post-socialist periphery. However, such layered approaches have been encouraged in theoretical studies of entrepreneurship. Bouchikhi (1993) claims that each approach taken separately has crucial weaknesses and neither the personality of the entrepreneur nor the structural characteristics of the environment illuminate the process. Thus, multi-leveled studies have been encouraged in research programs (Low & MacMillan, 1988). In my previous paper, I attempted to examine the different forms of entrepreneurship by using the interplay between individual personality traits and capabilities and the institutional environment. The goal of this paper is to examine the sources of entrepreneurial opportunities from the perspective of individual and environmental factors. Since opportunities define how the entrepreneur behaves and what kinds of entrepreneurship are manifested, entrepreneurial opportunity discovery and exploitation are two integral parts of the entrepreneurial process.[1] The field of entrepreneurship has two general perspectives on entrepreneurial types and the sources of entrepreneurial opportunities: the Schumpeterian and the Kirznerian perspectives. Schumpeter saw the entrepreneurial opportunity anchored in the alpha individuals of society who are responsible through their superior capabilities...
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...post-socialist periphery. However, such layered approaches have been encouraged in theoretical studies of entrepreneurship. Bouchikhi (1993) claims that each approach taken separately has crucial weaknesses and neither the personality of the entrepreneur nor the structural characteristics of the environment illuminate the process. Thus, multi-leveled studies have been encouraged in research programs (Low & MacMillan, 1988). In my previous paper, I attempted to examine the different forms of entrepreneurship by using the interplay between individual personality traits and capabilities and the institutional environment. The goal of this paper is to examine the sources of entrepreneurial opportunities from the perspective of individual and environmental factors. Since opportunities define how the entrepreneur behaves and what kinds of entrepreneurship are manifested, entrepreneurial opportunity discovery and exploitation are two integral parts of the entrepreneurial process.[1] The field of entrepreneurship has two general perspectives on entrepreneurial types and the sources of entrepreneurial opportunities: the Schumpeterian and the Kirznerian perspectives. Schumpeter saw the entrepreneurial opportunity anchored in the alpha individuals of society who are responsible through their superior capabilities of engendering innovative forms of entrepreneurship. This form of entrepreneurship has...
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...TRIMESTER III S.No. | Code No. | Title of the Course | 1. | HMPRBA 301 | Strategic Management | 2. | HMPRBA 302 | Entrepreneurship Development | 3. | HMPRBA 303 | Corporate Governance | 4. | HMPRBA 304 | Management of Public & Private Participation | 5. | HMPRBA 305 | Marketing Research | 6. | HMPRBA 306 | Financial Management | 7. | HMPRBA 307 | Operations & Supply Chain Management | 8. | HMPRBA 308 | Innovation Management | 9. | HMPRBA 309 | Current Business Affairs & Soft Skills | 10. | HMPRBA 310 | Minor Project (8 weeks) & Viva - Voce | HMPRBA-301: Strategic Management The objective of this course is to acquaint students with the concepts, methods and tools of strategic management and their application in industry. UNIT I: Strategic Management-Basic process of strategic management; Benefits and limitations of strategic management; Goals and objectives, Business Vision, Mission and Objectives. UNIT II: Environment and Resources Analysis: Environmental Analysis, Industry and Competitive Analysis, the External Factor Evaluation (EFE) Matrix, Competitive Profile Matrix (CPM), Internal Analysis; Internal Factor Evaluation (IFE) Matrix, Porter’s Five Forces Model, SWOT Analysis and VRIO framework. UNIT III: Strategy Formulation: Porters Value chain - Generic competitive strategies - Portfolio Analysis and its limitation - BCG matrix and GE matrix - Building competitive - advantage for a firm - Strategy versus tactics...
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...A GEM of a Study Abstract: The Global Entrepreneurship Monitor Entrepreneurial Assessment, a joint project of The Kauffman Center for Entrepreneurial Leadership at Babson College (now Arthur M. Blank Center for Entrepreneurship) and The London Business School, has undertaken a long-term, large-scale project to prove the causal links between a government's economic policies and initiatives, the resulting entrepreneurial activity and subsequent economic growth. This case describes multiple-stage research, including thousands of interviews in several countries by established research firms. URLs: www.london.edu www3.babson.edu/eship/aboutblank/ How/When to Use This case deals with the concept of causal studies vs. descriptive studies and what needs to be included in the research design of each study type. It also deals with what constitutes control in research design; in this context it is best used with chapters 6-9. This is also a great case to use to discuss constructs vs. concepts (Chapter 3), as Exhibit C-GEM-1.1 clearly has struggled with defining numerous constructs and multiple-measurement variables and, therefore, could be used to further explore text Exhibit 3-1. The case also mentions the use of standardized data; in this context you could use the case to explore how "standardized" data from different countries really is and where the student seeks such country-specific data. Discussion Questions: 1. What are the independent and dependent variables in this...
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