If you buy a McDonald's franchise and agree to pay a royalty fee of 12.5% annually, how much money will you owe McDonald's at the end of a year in which you sell $98,000 of product?…
Commitment, determination, and perseverance are the only characteristics one needs to become a successful entrepreneur.…
- One who creates a new business in the face of risk and uncertainty for…
Oprah Winfrey was born in the South and though she had a fairly traumatic childhood, rose up to become a prominent talk show host and businesswoman. Through her company, HARPO (Oprah spelled backwards), she has expanded her stable of investments from the Oprah Winfrey Show, to O Magazine and Oxygen Cable Network. She was born in Mississippi in 1954 to…
Strategic management can be defined as the art and science of formulating, implementing and evaluating cross-functional decisions that enable an organization to achieve its objectives. Strategic management is also an integrative management field that combines analysis, formulation, and implementation in the quest for competitive advantage. Strategic management includes of understanding the position of an organization, making strategic choices for the future and managing strategic action. In other word, defined as the process by which managers of the firm analyze the internal and external environments for the purpose of formulating strategies and allocating resources to develop a competitive advantage in an industry that allows for the successful achievement of organizational goals.…
What is an entrepreneurship? Entrepreneurship is the implementation of every people using their own talent such as new idea or new concept to open their own business. Then, what is mean by entrepreneur? Entrepreneur not only just a business man, it also a risk taker and consists of creativity to create new things or bring some new things to this world. Entrepreneur will always cares about their money, because they need money to improve their product to become more creative. In my opinion, an entrepreneur must have a well observation and great interpretation of skill or knowledge to control the risk and financial. An entrepreneur have a spirit of never give up, they will not care the result is success or failure, because they love to enjoy the stress and problem. If every time they failure their business, their will stand up and keep on improve and improve their business and never give up easily. Not only that, every success entrepreneur will always said nothing is impossible, because everything must have it own solution to solve it. Normally, every entrepreneur is start from zero until become a rich man, because of their spirit never give up and nothing is impossible.…
The capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit. The most obvious example of entrepreneurship is the starting of new businesses. In economics, entrepreneurship combined with land, labor, natural resources and capital can produce profit. Entrepreneurial spirit is characterized by innovation and risk-taking, and is an essential part of a nation's ability to succeed in an ever changing and increasingly competitive global marketplace.…
Entrepreneurship as a lot of meaning but for me it divided into two separate fundamental, the first part debate high involve on dichotomy which in a whole set that dividend in two that identify in a entrepreneur joint exhaustive that it only belong in one business to other business but in the other has mutually exhaustive nothing will belong to simulate for both business. The second fundamental an entrepreneurship is a quality or property firm that defined it self. Based on my researching of the theory was given the example for further explain and understand my perception on entrepreneurship like for example the an Entrepreneurial firms are thought of as small (Aldrich & Austen, 1986), organic and network-based rather than mechanistic or bureaucratic (Birley, 1986), fast-growing (Drucker, 1985), it also given by thought that help to keep more flexible and adaptable (Birch, 1987) and innovation (Backman, 1983). This perception gives me a huge way of interesting that how effective the Growth paradox that occurs when the business become successful that it ceases very attributes leading on success. Entrepreneurship is not for a business, or a product you don’t need to have a product to sell this is what the entrepreneur motivation which based on my personal experience in Philippines not only putting capital or invest a money its also making my own creative idea or business plan and proposed it to the company even its not a big company as what I experienced in my university the feasibility of my business plan that create an idea and information for the achieving a goal and it a huge impact for…
Each student will interview an entrepreneur of his/her choice. The goal is to provide you with insights about entrepreneurship that cannot be obtained from classroom experience alone. Chose an entrepreneur in an industry that is personally interesting to you. While you may find it difficult to cold-call an entrepreneur, you will find that most entrepreneurs will be honored to be asked about their experiences and will be willing to meet with you. Entrepreneurs’ schedules are often tight, and your biggest challenge will be to find free time to meet them. Extensions will not be granted due to last minute scheduling. Each student will visit the company to meet the entrepreneur, observe how the venture operates. The company can be in any type of business, must be at least 3 years old, and employ 5 people. Written Assignment Write a 6-page 1.5 spaced paper that discusses what you have learned. Please make use of paragraph headings, sub headings and bullet points. (Total 100 points) • Describes the entrepreneur’s background, motivations for starting the venture, challenges in growing the venture. (~ 3 pages) (25 points) • Evaluates the value proposition (target market, product/service description and unique benefit). (~ 2 pages) (25 points) • Conclusion: what makes the company successful (or not)? What are your recommendations for improvement? (1 page) (25 points) • Discuss how the findings of the interview apply or are meaningful to you. What have you learned about your own potential to be an entrepreneur? (1 page) (25 points) The objective is to drill down into the venture and thoroughly understand the entrepreneur and how he or she does business. It is critical that you do not just deal with superficial questions and answers. The key is to probe, to ask why, to delve beneath the surface. What insights can you offer about the person’s career and your own entrepreneurial capabilities?…
The name of my business will be GREENING KENYA ENTERPRISE. The business will be formed to produce seedlings of variety of trees, fruits and flowers for both individuals and businesses for both domestic and commercial purposes.…
For some people, being the boss, having the freedom to make your own rules and regulations, earning a high salary and working in a field that you really enjoy, would be the greatest thing ever. That’s why many of them have a dream of starting and running their own business during their lifetimes. For many people, creating a product or service that becomes popular for customers will provide a very satisfying sense of accomplishment and self-determination. This feeling cannot be met at a job in which they work for someone else. Not many people end up doing what they really like and make a living out of it, so I can say that those who succeed are privileged and recognized worldwide for his work. But everything related to the world of business is not that easy. The information presented throughout this paper demonstrates this assertion.…
We recommend acceptance of this manuscript in partial fulfillment of this candidate’s requirements for the degree of Master of Software Engineering in Computer Science. The candidate has completed the oral examination requirement of the capstone project for the degree.…
References: Theory of Economic Development (Social Science Classics Series by Joseph A. Schumpeter (31 Dec 1980)…
South Africa’s national development strategy along with numerous other countries strategies, view small business development and enterprise empowerment as an imperative for economic growth.(ACT102, 1996). Worldwide there is an acknowledgement that entrepreneurship is an economic workhorse and catalyst.(GORMAN, 1997) Entrepreneurship is seen as empowering and is a requisite for emerging countries such as South Africa to progress and globally integrate. South Africa acknowledges this and given its extremely high unemployment rate, South Africa has a mandate to foster an entrepreneurial nation.(Malik Fal, 2010)…
Entrepreneurship, retrieved from http://businessdictionary.com, "The capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit." As a business management student, I understand the idea of business itself. In my opinion; risk, capital, innovation, and proper management, are the four key factors that makes up entrepreneurship. Of course, if an entrepreneur lacks, at least, one of those, his business has a high probability of crumbling down into the ground sooner or later. There are a lot of factors that has to be considered first before an entrepreneur sets up a business.…