Chapter Objectives 1. 2. 3. 4. 5. 6. 7. Explain entrepreneurship and discuss its importance; Discuss three main reasons people decide to become entrepreneurs; Identify four main characteristics of successful entrepreneurs. Explain five common myths regarding entrepreneurship. Explain how entrepreneurs differ from businessperson. Discuss the impact of entrepreneurial firms on economies and societies. Explain the entrepreneurial process. Minicase: KLYMIT • Who? • What? • Why? • Where
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Challenges of the Entrepreneurs Starting A common denominator for all entrepreneurs is the challenge of starting a business‚ be it through inventing something‚ looking for a new idea within a business‚ finding the right opportunity to break into a business‚ or buying into a franchise. And all of these takes planning — organizing all the aspects so that you reach your goal. Capital/Funds This is by far the greatest of all challenges facing entrepreneurs. Most entrepreneurs go into business with
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BUSINESS MANAGEMENT ( FMG0044 ) ASSIGNMENT 1 : “ THE SUCCESSFUL ENTREPRENEURS ” Lecturer : Sir Azizi Name : 1) Ahmad Zul Iqmal B. Zulkifli (012012051643) 2) Khoo Chee Hong (012012050692) CONTENT 1) Introduction 2) Profile / Background of the entrepreneur 3) The success characteristics / traits of the entrepreneur 4) How should I imply his / her success attitude to improve my personal development / my life ? 5) Conclusion INTRODUCTION Entrepreneurship
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“FACt.” Case: Vizio‚ Inc Frame: VIZIO is founded in 2002 by William Wang‚ with a startup capital of $600‚000. The company produces high-quality flat-panel televisions at affordable prices. From 2002 to 2007‚ it realizes continuous growth and expansion. VIZIOR earns razor-thin margins‚ at a time when other famous brands such as Sony and Samsung still focus on high-end customers and charge a very high price for flat-panel television. By the end of 2007‚ VIZIO reached $1.9 billion in revenue and
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A research paper is a piece of work relying heavily on other information sources. It should state your argument or perspective using other authors’ work or ideas to support your own. The compositions of a research paper is basing on your synthesizing and analyzing skills. A synthesis is a written discussion basing upon the minimum of two sources or more (Behrens‚ Rosen 71). An analysis‚ on the other hand‚ is an argument draws from a brief research on a certain topic (141). It is seemingly obvious
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Scenario 1 Energy Inc. has a present obligation (IAS 37-17) and probable liability (ASC 450-20-25-2) on December 31‚ 2011 as a result of a past event‚ the contamination of the land‚ because it is virtually certain that a draft law requiring cleaning up will be enacted. It is probable (more likely than not) that Energy Inc. will be required to transfer economic benefits in settlement which is an outflow of resources embodying economic benefits in settlement (IAS 37-23). The amount of the obligation
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WOMEN ENTREPRENEURS: Women entrepreneurs may be defined as a woman or a group of women who initiate‚ organize and run a business enterprise. In terms of Schumpeterian concept of innovative entrepreneurs‚ women who innovate‚ initiate or adopt a business activity are called business entrepreneur. It is the group of women or single women running an enterprise or company in order to earn profit. Now days because of women empowerment women are stepping-stone into the industries and are taking the
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list of all the expenses and allowing you to choose which expenses to cut that may be less important. e.g the cost varience report may have electricity bill‚ goods and office refreshments. The list may help you decide which cost should be cut‚ in this case it would most likely be the office refreshments. 1.2 (1) the company is currently running at a loss R3000.00 loss. (2) Cash paid for operations costs (3) The business runs a lot on operations so it needs a lot of financing on that department.
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stage for how one persons should act vs how the people did act in the religious society. With the Puritan religion and the government intertwined as deeply as they were one of them had to be dominant‚ in this case it was the religion which is what changed people to do what they did. In Source A Proctor doesn’t want to “blacken all of them [his friends] when this is nailed
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Primary Source Analysis In order to determine the validity of a source‚ to prove it is a primary source and not a secondary source‚ one must look at several things. There are many aspects about it that show its validity. These include; when the event the source is talking about took place compared to when the author wrote the piece and when they were alive‚ whether or not it was an eye-witness account‚ and the reason the author wrote about it. Also in the evaluation process of the source‚ one
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