Entepreneuship

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KENYATTA UNIVERSITY: UCU 104 TAKE AWAY ASSIGNMENT Q.1 It is better to be self-employed than to work for a salary. Discuss. Q2. Explain what you understand by the term intellectual Property. Give a clear meaning of the following terms: patent, registered trade mark and copy right. Discuss the advantages and disadvantages of the above.

IT IS BETTER TO BE SELF-EMPLOYED THAN TO WORK FOR A SALARY
Indeed it is better to be self-employed than to work for a salary.This is because being self-enployed is more advantageous than working for a salary as the following discussion explain; Whether one is running his or her own business or working as an independent contractor, he or she willsoon realize that working for oneself isn't just another job, it's a way of life. As someone who likes a nine-to-five routine and collecting a regular paycheck? When self-employed, he must be willing to make sacrifices for the sake of the job. He is going to work long hours, which means that he won't have as much time as he or she used t for family or leisure activities. And if the cash flow becomes a trickle, he is going to be the last one to get paid. Can one get along well with all types of people? Being self-employed is all about managing relationships--with ones clients or customers, ones suppliers, perhaps with his employees, certainly with his family, and probably with his banker, lawyer, and accountant, too. If he is the type who wants to be alone to do the few things that he good at, then he or she should do that--for someone else. Are you a disciplined self-starter? Being self-employed means that you're your own boss. There may be days when you'll have to make yourself sit at your desk instead of going for a long lunch, or (especially if you work out of your home) place those business calls instead of reading the newspaper. If one enjoy wearing many hats? Depending on his line of work, he may be involed in handling marketing and sales duties, financial planning and accounting responsibilitiesadministrative and personnel management chores--or all of the above .Besides he will feel great to get paid to do what he or love to do anyway. If one work for himselfself, chances are he will be doing work that he enjoy; to pick who to work for or with, and in most cases he will work with his customers or clients directly--no go-betweens muddying the waters. As a result, he may have days when it hardly feels as if not to work at all. Such attracted him to self-employment in the first place. Being your own boss means that you'll be in control of all of the decisions affecting your working life. You'll decide on your business plan, your quality assurance procedures, your pricing and marketing strategies--everything. You'll have job security; you can't be fired for doing things your way. As you perform a variety of tasks related to your work, you'll learn new skills and broaden your abilities. You'll even have the flexibility to decide your own hours of operation, working conditions, and business location. If you're working out of your home, your start-up costs may be reduced. You'll also experience lower operating costs; after all, you'll be paying for the rent and utilities anyway. If the location of your work isn't important (perhaps you're a freelance writer or a consultant), you can live wherever you want. At any rate, if you work at home, you'll greatly reduce your daily commuting time and expense. If all goes well and you're making money, chances are you can make more than you did working for someone else. And since you're working for yourself, you may not have to share the proceeds with anyone else. The fruits of your labor will be all yours, because you own the vineyard. On the contrary if you're self-employed, particularly if you're starting your own business, you may have to take on a substantial financial risk. If you need to raise additional money to get started, you may need a cosigner or...
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