How entrepreneurs can contribute to the economic development of a country? i) Entrepreneurs can promote capital formation in a country - Entrepreneurs need money to set up and run their firm. To do that‚ they will need to borrow or employ their own resources or money. This will cause money to be channelled to help the country’s economy as an economy will only thrive when there is money circulating in the economy of a country. ii) Entrepreneurs can create employment opportunities to the public
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Week Six Case Analysis: Dell Direct and Not-So-Direct MRKT 5000 Online Course Julia Huelsmann Dell Direct and Not-So-Direct Case Summary: When the Texas-based Dell computer company started in 1984‚ its creator Michael Dell was interested in having a completely different distribution approach from his competitors. In order to keep costs low‚ minimize inventory costs and cater to customer needs‚ Dell sold directly to customers. By 1997‚ Dell’s distribution model was working extremely
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What Is Opportunity Recognition? Opportunity recognition is a process used by entrepreneurs. * Opportunity recognition‚ a theory based on entrepreneurship‚ suggests that people use a specific cognitive process to recognize the potential in a new business opportunity. The idea is based on considering past experiences‚ risks and market trends to recognize the potential in and make a decision about a business venture. There are many different theoretical models of opportunity recognition process
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these activities are called entrepreneurs. An entrepreneur is one who always searches for change‚ responds to it‚ and exploits it as an opportunity. Assessment of Market Opportunity‚ responding to competition‚ gaining command over scarce resources‚ identifying sources of inputs‚ and marketing of products‚ dealing with public‚ bureaucracy‚ management of human resources‚ technological innovation and improvements in production techniques are prime functions of an entrepreneur. According to Schumpeter
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Dell Computer have recently announced changes to their business strategy and supporting supply chain. They will no longer focus on a made to order direct sales model for their personal computers. Nor will they continue to refine their renowned supply chain model that supported their sales model. Instead‚ they will be looking to produce personal computers with fixed configurations at lower prices. This essay looks at why Dell have changed their strategy‚ and then considers the customer value proposition
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Panino Restaurant The entrepreneur that I interviewed was Lydia Patterson. In 1989‚ Lydia and her husband‚ Lou‚ decided to start planning to open up a new Italian restaurant in Virginia. The restaurant industry‚ especially in the Washington DC area is very competitive. It is highly competitive with respect to price‚ value and promotions‚ service‚ location‚ and food quality. There are a substantial number of restaurant operations that compete for customer traffic‚ some of which have significantly
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A Dream of A Social Entrepreneur “I have a dream that in the near future‚ Ecolife Café will become the bridge of knowledge for people in Phu Long and promote Community Ecotourism for the Protection of Mangrove so that tourists and foreigners will know and love the community initiatives to protect the green environment here‚ and then have a chance to experience life with local people in our island.” Lying on the coastal island of Cat Hai‚ Hai Phong City‚ Phu Long commune’s population is consisted
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Michael Kors was born on August 9‚ 1959‚ and was raised on Long Island. He moved to New York City to attend the Fashion Institute of Technology‚ but dropped out after two semesters. Kors launched his women’s collection in 1981 band became a judge on Project Runway in 2004. First Lady Michelle Obama posed in a Michael Kors dress for her first official portrait. Kors lives in New York City. He is half Scandinavian‚ half Jewish. His mother is Joan Krystosek Kors‚ a former model. Designer‚
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Michael Nostradamus I SPECIFIC PURPOSE This speech is to inform the audience about the life and work of Michael Nostradamus‚ and to inform about his clairvoyant abilities that made him one of the most important predictor of future events in human history. II INTRODUCTION Attention-Getter: Has anybody heard about Nostradamus or his Prophecies? Thesis: We all know about Nostradamus accurate predictions and his ability to heal people infected with the plague in the 16th century‚ but today we will
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long which allows Dell to turn inventory into cash in an effective timeframe. Daniel’s thought: Because Dell’s inventory turnover is high and its low inventory of finished goods‚ Dell can move quickly to the new technology with less cost. Therefore‚ Dell can make the new technology available to customers more quickly than its competitors‚ attracting more customers and gaining more market shares at the same time. Secondly‚ because of its cash conversion cycle is relatively low‚ Dell has sufficient cash
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