The Relationship Between Entrepreneurship

In order to completely understand the relation, it is Important to define what Is meant by each of the terms before Identifying any links between them. Joseph Schumacher defined entrepreneurship as â€Å"whatever the type, everyone is entrepreneur only when he actually carries out a new combination and loses that character as soon as he has built up his business, when he settles to running it as other people run their 1934, p. 78) I agree with most of this definition as this basically means that a person is only an entrepreneur when something new Is created.After this point, they are not considered entrepreneurs as whatever they have created Is no longer new. Schumacher also said that Innovation Is the creation of a new product, new method of production, new markets or new ways of directing resources. It is also important to distinguish between incremental and radical Innovation. Incremental innovation refers to a small change whereas radical change means a revolutionary change, For example, the Invention of the first mobile phone was a radical innovation. The release of Apple's latest phone is an incremental innovation.Firstly, I will examine the correlation between Just entrepreneurship and innovation. In my opinion, it is impossible to be an entrepreneur without being innovative. Summerset's definition supports this belief. The person needs to create something incrementally or radically new in order to be an entrepreneur. A good example of this would be Steve Jobs, one of the founders of Apple. His Innovation towards portable music was radical In the sense that his product was compact. However, since then, he has made more products such as phones and computers.Schumacher also argued that innovation allows firms to generate abnormal profits which are required as they encourage research and development. However, I believe that this research and development often leads to incremental change rather than radical change. This can be seen by looking at Apple as we ll. Apple constantly makes incremental changes to FIFO However, incremental change is essential for economic development. Economic development is defined as the rise in the general standards of living and quality of life. It is measured by the Human Developmental Index (HID).The HID is a â€Å"way of measuring development by combining indicators of life expectancy, educational attainment and income† (UNDO, 2011). Economic development can only be achieved if there is economic growth. Economic growth is the rise in a nation's real gross domestic product (GAP). Considering that â€Å"Development requires the removal of major sources of unfounded: poverty as well as tyranny, poor economic opportunities as well as systematic social deprivation, neglect of public facilities as well as intolerance or overcapacity of oppressive states. (Mammary Seen, 1999, p. 3), I firmly believe that economic growth can lead to economic development. Entrepreneurship and innovation fuels economic gr owth as it makes demand rise. An entrepreneur innovates and creates something to meet a pre-existing yet unfulfilled demand. As a result, people buy that product, allowing the entrepreneur to earn profits. These profits can be invested back into the business. The process then starts again and causes the economy to grow. A growing economy results in increasing expenditure.This means that unemployment falls and incomes rise. This means that consumption of necessity goods increases. The provision and consumption of services such as health care and education can also increase. Governments can also generate more revenue from tax as incomes and expenditure rises. This means the provision of public goods such as clean drinking water, sanitation and law and order increases. A rise in the supply of public goods causes a reduction in inequality gap and improves income distribution.All of these constitute to economic development as the standard of living has now been improved and this can be p roven by calculating the values for the HID indicators. Furthermore, economic growth is also an incentive for more innovation as it signals to the potential entrepreneurs that the economic conditions are suitable for making profits. It is due to all these conditions that I believe that the ‘uninformed' mentioned in Ken's definition are removed and aptly addressed during a period of economic growth, thus, resulting in economic development.An example, from Kenya, of the process above supports my argument. According to an article published by The Guardian, a Kenya telecommunications company, Safari, started providing a mobile banking service called ‘M-Peas' in 2003. This service permitted its users to store money on their phones and pay for items or transfer money via SMS. This provided people with an alternative source of banking that was better than the traditional method because it was portable and did not impose heavy charges for transactions. As a result, demand for mo bile phones went up.A study done by the London Business School showed that for every 10 extra mobile phones per 100 people, GAP in a developing nation went up by 0. 5%. Mobile phones also aided in economic development because they â€Å"can also be used to spread vital information about farming and healthcare to isolated rural areas send symptoms of a disease to a doctor via text and receive a diagnosis. Farmers could find the market price of the crops to ensure that they are not cheated. Mobile banking is not a radical innovation however; incremental change can be more beneficial for less developed countries.This service helps improve the quality of life for people in remote, rural areas that are hard to get to due to poor infrastructure. Although, entrepreneurship and innovation can cause economic growth, it isn't the only way. Economic growth can also be found in situations from which entrepreneurship is completely absent. A prime example of this would be the Russia during the s ass. During this time, Russia was a centrally planned economy. By definition this means that all decisions were made by the state rather than individuals. â€Å"The decade of sass was thus the â€Å"golden period† of Soviet economic Roth.The patterns of Soviet growth of the sass in terms of growth accounting were very similar to the Japanese growth of the sass-ass and to Korean and Taiwanese growth in the 1960-ass – fast increases in labor productivity counterweighted the decline in capital productivity' (Vladimir Pop, 2010) These nations saw an increase in their GAP even during a lack of entrepreneurship due to increased labor productivity. However, the rise in GAP only lasted a decade. As it can be inferred by inspecting the current economic conditions in the former Soviet states, the growth was not sustainable.Sustainability looks at the level of self-sufficiency a product or notion has. It is related to entrepreneurship and innovation in the sense that if a produc t, idea or procedure is not sustainable, the likelihood of its existence is low. It's obvious to me that an entrepreneur is less likely to follow through with an idea that cannot continuously generate profits. Conversely, the concept of sustainable development has to be discussed while trying to understand the relationship between economic development and sustainability.Sustainable development is defined as â€Å"development that meets the needs of the resent without compromising the ability of future generations to meet their own needs. † (NUANCED, 1987)This means that entrepreneurs have to be innovative in a manner that satisfies the current demand but does not harm the future generation's capacity to innovate and satisfy their demands. Sustainable entrepreneurship can help achieve economic development. For example, the invention of the catalytic converter by Eugene Hydro was a radical innovation that was meant to reduce the air pollution created by exhausts from chimneys a nd automobiles.This kind of radical innovation benefits the developed nations more as they have a higher rate of institution and more factories and automobiles that create emissions. In this case, sustainable entrepreneurship increases economic development because impact on health, one of the factors measured by the HID, is reduced. In conclusion, the relationship between entrepreneurship, innovation and economic development is a bilateral one. I think it is impossible to be an entrepreneur without causes economic growth which is required for economic development.However, economic growth does not equate to economic development, as shown by the report on Soviet growth rates. Even though there was economic growth, there was a very insignificant, if any, rise in the standards of living. For me, this highlights the importance of entrepreneurship in achieving economic development. Even though I think radical innovation is a better reflection of entrepreneurship, I think that incremental innovation is of greater importance for the purposes of promoting economic development in less developed countries.The incremental innovations done by entrepreneurs in less developed nations, such as Safari in Kenya, are vital for economic development due to the nature of the infrastructure in these countries. Radical innovations such as the creation of the catalytic converter and whiney scrubbers that reduce emissions are significant for improving the standards of living in developed nations due to the opulence and levels of consumption. Sustainability and sustainable development play a noteworthy role in this relationship.

The four principles that should guide business negotiations Essay

The four principles that should guide business negotiations - Essay Example By applying these policies in business negotiations, one can be capable of satisfying the requirements and needs of consumers more adequately. For example, the first policy demonstrates that by understanding what a consumer needs one should be able to specifically manufacture what is needed by the customer and this eases negotiations between both parties which eventually ensures that the communities’ needs are met (Weiss and Hughes, 2012). The second principle shows that when you as a producer offers a wide range of products or take into account your consumers opinions, you enable the consumers to have the freedom of choice which ensures that they are able to choose wisely and adequately on what suits them best. The third policy explains that one should be able to provide accurate information about the product he is selling to the consumer and these lessens their questioning during negotiation which in the long saves on time and ensures that others are served in the business premises. Lastly, the fourth policy illustrates that when one is able to agree with the consumer on the product chosen they both ensure that a fair agreement has been reached since the consumer’s needs have been met, and these enables more service to the community since you meet their

Amazon Deforestation Essay Example | Topics and Well Written Essays - 1000 words

Amazon Deforestation - Essay Example Global warming is one of the major concerns of the world today. The problem is caused by the increased greenhouse emissions coming from different countries worldwide. However, findings show that about 15% of carbon emissions come from tropical deforestation. This level of emissions is more than the total emissions from all automobiles combined. Therefore, preservation of forests is one of the surest ways of slowing down global warming. This begins by preserving Brazil’s Amazon rainforest, which is at threat of disappearance due to deforestation. Brazil’s Amazon rainforest is one f the world’s largest tropical rainforest. However, the forest has been at threat of deforestation, which began in 1970s. Report indicates that before the deforestation of the forest began, Amazon forest cover was estimated at about 4,100,000 square kilometers. The forest at the time consisted of different types of trees and acted as home for several species of birds, animals, microorganisms, and even human beings.The high forest cover also acted as water catchment area for major rivers in Brazil and neighboring countries.At the same time, the forest received an estimated half of the country’s annual rainfall. However, all these have significantly been lost through deforestation. The World Bank report indicates that an estimated 745,289 square kilometers of Amazon forest has been lost since 1970s to 2011.Despite there being a slight decline in the destruction in the recent times following conservation initiatives put by the Brazilian government, more still needs to be done to preserve the forest. As a result,only about 3,354,711 km2 of the forest cover remained by 2011 down from 4,100,000 km2 of the forest cover in 1970 and earlier.... A number of factors have been noted as the leading causes of destruction of Amazon. Top of the causes according to a study is the clearing the forest for pasture. Report indicates that about 38% of the deforestation that took place from1966 to1975 was due to large-scale ranching. This figure has since increased to about 60%, according to the country’s National Institute for Space Research (INPE) and Agricultural Research Corporation (Embrapa). This is reverberated by the fact that Brazil’s economy depends hugely on beef products exported to different parts of the world. However, much of the ranching expansion has taken place in Amazon, which has more than 80% of heads of cattle. Presently an estimated 214,000 square miles of land have been cleared to give space for pasture. This space is larger than the size of France (Butler par.3). The destruction has also been caused by subsistence agriculture being undertaken by the poor farmers in the forest after the Brazilian gov ernment provided land to the landless poor through the country’s land policy. According to Brazil’s land policy, every citizen has a right to use any government piece of land for a period of at least one year and a day. The squatter has the right to acquire ownership of the land after five years hence the right to sell the land. Report indicates that the Brazilian government granted land ownership in Amazon to about 150,000 families from 1995 to 1998. Poor farmers typically have the tendency of clearing land-using fire. In fact, satellite images taken on the forest show numerous images of fires burning across the Amazon (Campari 21). The deforestation of Amazon has also been increased by the move by the Brazilian government to clear the land for purposes of improving its

Confucianism Essay Example | Topics and Well Written Essays - 500 words

Confucianism - Essay Example Thus politeness being a universal communication phenomenon it reflects particular cultural values that come with or rather which are linked to diverse cultures. Being a relatively vital aspect in cross-cultural communication, politeness enables people from different cultures to establish, consolidate or maintain harmonious interpersonal relations that reduce misunderstandings and conflicts in the society. A snapshot on various aspects of politeness in the two cultures, Chinese and English, depicts that the rules of communication differ as they are influenced by the values and beliefs of individuals from these communities. For instance, the English people always address others according to their genders; Mr., Mrs., Miss and Ms, followed with a surname, depending on age and marital status. On the other hand, the Chinese address people using a surname and the title of the occupation; â€Å"Wang yi sheng† to mean Doctor Wang, â€Å"Lee xiao zhang† to mean Principal Lee and â€Å"shi fu† can be used to address strangers. In addition, the Chinese culture, especially for children, â€Å"shushu† and â€Å"a yi† are always used to address uncle and aunty respectively. Another aspect of politeness in the two cultures is farewell and greetings. Whenever the English people meet, they always use phrases like â€Å"Nice to meet you,† â€Å"Good Morning,† â€Å"Good evening† and â€Å"Good afternoon.† For the Chinese, the phrase â€Å"ni hao† is always used whenever people meet. Moreover, when the China people meet their acquaintances, one can say â€Å"qu na li† to ask where one is going or â€Å"chi le ma?† to ask whether one has eaten or not. Thus, whenever an native speaker of English hear the Chinese phrases, he or she might interpret them as invitation lunch or dinner and any other interference in their personal affair. I met one of my colleagues, an English speaker on my way to a restaurant. I was

Career Planning Essay Example | Topics and Well Written Essays - 1000 words

Career Planning - Essay Example The discourse would hereby address the following concerns, to wit: (1) to present a brief analysis of one’s long-term career plan; (2) to list and describe the six major components of a resume; and (3) to determine what three categories of questions may be asked during a job interview. Brief Analysis of Long-Term Career Plan One’s career goal is to own a little cafe or restaurant that serves healthy food as opposed to greasy fried fast food, generally offered in most proprietary restaurants today. The wealth of experience and academic background in the field of professional cooking and kitchen management has provided the solid foundation to pursue a life-long career as the owner and executive chef of one’s own diner. The genuine interest in this endeavor has been innately ingrained and for more than 20 years, working in the capacities of executive chef and general manager, one’s knowledge, skills and abilities have been extensively honed for this career. A s one still currently committed as a General Manager and Executive Chef of Coho Vineyard & Winery, at Boston, Massachusetts, the perceived long-term plan is proposed to be enforced with the following details as hereby envisioned for the cafe cum restaurant in general overview: Proposed Name: Product Specialties to be Offered: Target Location: Target Market: Projected Number of Personnel: Estimated Start-Up Cost: Estimated Time Frame for Completion And Operation: Projected Monthly Revenue: Projected Monthly Income: The proposed career plan is expected to provide a significant amount of monthly income that would sustain and support the operations of the restaurant for the next five to ten years. Any changes in demand or preferences relayed by customers would be incorporated in the products being offered and adapted to their needs for the longer term status. Six Major Components of a Resume The six major components of a resume are heading, objective, education, work experience, skills/ qualifications, and activities/organizations/honors. As shown in Appendix A, the heading provided the most relevant and crucial information containing the name and contact information. The objective provides the information that one can offer to employers in the capacity and expertise assumed. The educational background contains the name of the university, the degree and relevant details of academic performance. Work experience would incorporate all pertinent information relating to present and past employment including the names and locations of employers. Aside from details of employers, the professional experience should indicate duties and responsibilities, as well as significant accomplishments and contributions to the organizations. The skills and qualifications portion should identify distinctive skills and areas of expertise that would make one stand out from the rest. And finally, the activities, honors and organizations would specify any hobbies and special interests that put to effective use the skills and abilities gained through academic and professional experiences. From one’s resume, presented as Appendix A, all the crucial elements have been incorporated. The details and information for activities, honors and organizations are already integrated in the areas of expertise portion, as well as in the education and qualifications portion. Three Categories of Questions The three categories of questions that could be asked during a job interview are as follows: open

ADHD Facts and Myths Research Paper Example | Topics and Well Written Essays - 750 words

ADHD Facts and Myths - Research Paper Example A larger proportion of the findings categorizes the aspects of ADHP as of inattention category and the remaining claims the presence of hyperactivity-impulsivity in the behavior a child. A number of symptoms are identified from the basic reflective features for the easy identification of the child’s conducts that basically result the inferior learning process and overall behavioral disorder that distinguishes an ADHD affected child from his peer equals. Ever since the researches began, there have been many assumptions and findings about the reasons and consequences of ADHD; however, most of such conflicting opinions have greatly contributed in having the studies a myths-and-facts image. Diagnosis for the ADHD is no easy after the child grows older, because the significance of the preexisting disorders may not be exhibited in its routine activities related to study, work or relationships. Many scientists and psychologists are of the view that the issue that runs through the fam ily which develops in the later stages of brain development. Since it is the most largely identified disorder in child behavior, researchers have explored the causes and risk factors involved in AHDH and assessed that a number of problems like depression, insomnia and learning impairments as part of it. They suggest that an early consultation with a doctor for ADHS suspected children for their rescue from further development of behavioral and health issues that may seriously damage the personality of the child in the future. Some studies say that â€Å"the adolescent and adult populations with ADHD also demonstrate significantly different profiles from those of their normally achieving peers† (Gregg & Deshler, 23).† The symptoms present in the suspected cases are mainly the visible comprehensive disorder, laziness in learning, severe impatience in the classroom, higher level demonstration of energy while playing, constant nature of interrupting the speech etc. Although this problem is easily ignored by the teachers and parents as a stage of growth, many teenagers feel depressed during the period of abstinence from attentiveness of their respective listeners of their ideas. Observers are of the opinion that â€Å"it is very important for adolescent to feel that they have been listened to and understood and that their opinions have been taken seriously, because in the past their ideas may have often been discounted by adults† (Robin, 506). There are several tests for identifying the affected cases. The American Academy of Pediatricians (AAP) has advised that the children below 7 years of age be observed with the indicative symptoms for over six months and for the older children, parent-teacher interviews, IQ and psychological testing and other forms of competitive mental and developmental examinations (â€Å"Attention deficit hyperactivity..) Though this problem can be addressed and managed with medication and behavior therapy by experts in this field. From the parental angle, the child should be guaranteed enough sleep and praise for good behavior. Experts warn that any negligence in treating the ADHD affected children may take them to a more complicated life style in the future such as alcoholism, academic failure, inconsistent job preferences and acute disgust towards the law. Moreover, the height of degree of impulsive behavior may cause them severe damage in the peer relationship. There has been a lot of conflicting information developed from the evaluation of such identified issues of ADHD related problems. The factors contributing to such an intellectual debate

Rotator cuff tear Essay Example | Topics and Well Written Essays - 3750 words

Rotator cuff tear - Essay Example The shoulder (Mercier 28-29) is composed of three bones: the scapula,, the clavicle and the humerus. The scapula is a thin bone that articulates widely and closely with the posterior chest wall. It also articulates with the humerus by way of a small, shallow, glenoid cavity and with the clavicle at the acromion process. The clavicle and scapula are suspended from the cervical and thoracic vertebrae by the trapezius, levator scapula, and rhomboid muscles. Four articulations constitute the shoulder joint: the glenohumeral, scapulothoracic, acromioclavicular, and sternoclavicular joints. The stability of these joints is provided by a series of ligaments and muscles. Motion of the arm results from the coordinated efforts of several muscles. With the irritation of shoulder motion, the scapula is first stabilized. The muscles of the rotator (musculotendinous) cuff then steady the humeral head in the glenoid cavity and cause it to descent. Elevation of the arm results from a combination of scapulothoracic and glenohumeral joint movements. One third of total shoulder abduction is provided by forward and lateral movement of the scapula. The remaining two thirds occurs at the glenohumeral joint through progressively increasing activity of the deltoid and supraspinatus muscles. Thus, even in the complete absence of glenohumeral motion, scapulothoracic movement can still abduct the arm approximately 600 to 700. The muscle of the rotator cuff (supraspinatus, teres minor, infraspinatus, subscapularis) are separated from the overlying "coracoacromial arch" by two bursae, the subdeltoid and the subcoracoid. These bursae frequently communicate and are affected by lesions of the musculotendinous cuff, acromioclavicular joint, and adjacent structures. They are frequently referred to as the subacromial bursa. Primary diseases of this bursa are rare, although secondary involvement is quite common. The shoulder (Matt, July 23, 2002) is made up of three bones: the scapula (shoulder blade), the humerus (upper arm bone), and the clavicle (collar bone). The rotator cuff connects the humerus to the scapula. The rotator cup is formed by the tendons of four muscles: the supraspinatus, infraspinatus, teres minor, and subscapularis. Tendons attach muscle to the bones. Muscles move the bones by pulling on the tendons. The rotator cuff helps raise and rotate the arm. As the arm is raised, the rotator cuff also keeps the humerus tightly in the socket of the scapula. The upper part of the scapula that makes up the roof of the shoulder is called acromion, A bursa is located between the acromion and the rotator cuff tendons. A bursa is a lubricated sac of tissue that cuts down on the friction between two moving parts. Bursae are located all over the body where tissue must rub against each other. In this case, the bursa protects the acromion and the rotator cuff from grinding against each other. The Encyclopedia of Medicine explained the movements of the shoulder joint as follows: "The shoulder joint is a ball-and-socket joint which allows 3600 of movement to give maximum flexibility. In addition to enabling these movements, the muscles of the pectoral girdle add stability. The movements