Thursday, 30 November 2017
file:///C:/Users/lenovo/AppData/Local/Packages/Microsoft.MicrosoftEdge_8wekyb3d8bbwe/TempState/Downloads/TechVentures4thEd-Chapter_01.pdf
THE ROLE AND PROMISE OF ENTREPRENEURSHIP
Entrepreneurship is the process through which individuals and teams bring together the necessary resources to exploit opportunities and, in doing so, create wealth, social benefits, and prosperity.They identify opportunities, mobilize resources, and relentlessly execute on their visions.They are peoples who identify and pursue solutions among problems, possibilities among needs, and opportunities among challenges.Entrepreneurship is more than the creation of a business and the wealth associated with it. It is focused on the creation of a new enterprise that serves society and makes a positive change.An opportunity is a favorable juncture of circumstances with a good chance for success or progress. Attractive opportunities combine good timing with realistic solutions that address important problems in favorable contexts. It is the job of the entrepreneur to locate new ideas, to determine whether they are actual opportunities, and, if so, to put them into action.In the economy,there are four factors of production that is land,labor,capital and entrepreneurs.The entrepreneurs are responsible to execute and utilize those economical resources and transform it into useful elements for the use of the society.There are three inputs utilized by entrepreneurs that is natural capital,financial capital and intellectual capital.These inputs will then be utilized by entrepreneurs in the economy and produce either two outputs that is beneficial outcome or udesired waste outputs. The first input is natural capital and it refers to those features of nature, such as minerals, fuels, energy, biological yield, or pollution absorption capacity, that are directly or indirectly utilized or are potentially utilizable in human social and economic systems. Because of the nature of ecologies, natural capital may be subject to irreversible change at certain thresholds of use or impact. For example, global climate change poses a serious threat to sources of natural capital.Next, financial capital refers to financial assets, such as money, bonds, securities, and land, which allow entrepreneurs to purchase what they need to produce goods and services.This input is one of the most valuable capitals where entrepreneurs should utilize them wisely so that the sustainability of the business would be secured for a long term run.Lastly, the intellectual capital of an organization includes the talents, knowledge and creativity of its people, the efficacy of its management systems, and the effectiveness of its customer and supplier relations. Intellectual capital can be thought of as the sum of the knowledge assets of an organization. This knowledge is embodied in the talent, know-how, and skills of the members of an organization. Thus, a firm needs to attract and retain the best people for its requirements in the same way that it seeks the best technologies or physical assets. Knowledge is one of the few assets that grows when shared. By organizing itself around its intellectual capital, a new firm can leverage its benefits through collaboration, development, and sharing. Good entrepreneurs seek to be flexible so they can adapt to changing conditions and reduce the risks of the venture. They are resilient in the face of setbacks, able to multitask, and exercise well-developed problem-solving skills to overcome challenges. create an overarching vision of the venture and use it to motivate employees, allies, and financiers. Perhaps the most important qualities or characteristics of an entrepreneur are the abilities to accomplish the necessary tasks, meet goals, and inspire others to help with these tasks. Thus, natural capital, financial capital and intellectual capital are important input elements to be utilized by entrepreneurs as they act as agents of progress to produce valuable outputs and improve the economical status of certain countries and it's citizens towards a much more prosperous life.
Entrepreneurship is the process through which individuals and teams bring together the necessary resources to exploit opportunities and, in doing so, create wealth, social benefits, and prosperity.They identify opportunities, mobilize resources, and relentlessly execute on their visions.They are peoples who identify and pursue solutions among problems, possibilities among needs, and opportunities among challenges.Entrepreneurship is more than the creation of a business and the wealth associated with it. It is focused on the creation of a new enterprise that serves society and makes a positive change.An opportunity is a favorable juncture of circumstances with a good chance for success or progress. Attractive opportunities combine good timing with realistic solutions that address important problems in favorable contexts. It is the job of the entrepreneur to locate new ideas, to determine whether they are actual opportunities, and, if so, to put them into action.In the economy,there are four factors of production that is land,labor,capital and entrepreneurs.The entrepreneurs are responsible to execute and utilize those economical resources and transform it into useful elements for the use of the society.There are three inputs utilized by entrepreneurs that is natural capital,financial capital and intellectual capital.These inputs will then be utilized by entrepreneurs in the economy and produce either two outputs that is beneficial outcome or udesired waste outputs. The first input is natural capital and it refers to those features of nature, such as minerals, fuels, energy, biological yield, or pollution absorption capacity, that are directly or indirectly utilized or are potentially utilizable in human social and economic systems. Because of the nature of ecologies, natural capital may be subject to irreversible change at certain thresholds of use or impact. For example, global climate change poses a serious threat to sources of natural capital.Next, financial capital refers to financial assets, such as money, bonds, securities, and land, which allow entrepreneurs to purchase what they need to produce goods and services.This input is one of the most valuable capitals where entrepreneurs should utilize them wisely so that the sustainability of the business would be secured for a long term run.Lastly, the intellectual capital of an organization includes the talents, knowledge and creativity of its people, the efficacy of its management systems, and the effectiveness of its customer and supplier relations. Intellectual capital can be thought of as the sum of the knowledge assets of an organization. This knowledge is embodied in the talent, know-how, and skills of the members of an organization. Thus, a firm needs to attract and retain the best people for its requirements in the same way that it seeks the best technologies or physical assets. Knowledge is one of the few assets that grows when shared. By organizing itself around its intellectual capital, a new firm can leverage its benefits through collaboration, development, and sharing. Good entrepreneurs seek to be flexible so they can adapt to changing conditions and reduce the risks of the venture. They are resilient in the face of setbacks, able to multitask, and exercise well-developed problem-solving skills to overcome challenges. create an overarching vision of the venture and use it to motivate employees, allies, and financiers. Perhaps the most important qualities or characteristics of an entrepreneur are the abilities to accomplish the necessary tasks, meet goals, and inspire others to help with these tasks. Thus, natural capital, financial capital and intellectual capital are important input elements to be utilized by entrepreneurs as they act as agents of progress to produce valuable outputs and improve the economical status of certain countries and it's citizens towards a much more prosperous life.
Monday, 13 November 2017
https://ijms.ut.ac.ir/article_61961_98ab29d74a2aeb406709f68fe013a655.pdf
FACTORS INFLUENCING YOUNG ENTREPRENEURIAL ASPIRATIONS'S INSIGHT TOWARDS SUSTAINABLE ENTREPRENEURSHIP
A sustainable entrepreneurship is a combination of business practices and sustainable development to transform the business sectors.They combine the environmental, economic and social component of sustainability in a more holistic manner and have a different approach than the conventional entrepreneurs.There are four variables that were identified that contributes to sustainable entrepreneurship that is eco-friendly people(efp),green marketing factors(GMF),changing consumers behavior(CCB),and favorable market conditions(FMC).sustainable entrepreneurs are mainly influenced by their social values, environmental awareness,personal motivation, and interest towards the environmental activities.More people and the society are more aware of the importance to preserve the environment.They are more interested in environmental activities and they use natural resources carefully which are limited to the earth.They are motivated by environmental values, and they do green business by keeping these values in the theme of their activities.Next,green marketing factors are mostly influenced by the technological and industrial evolution from time to time that led to ecological concern among people.Green marketing practice is an umbrella term that incorporates various green business activities such as green design, green packaging, ecolabeling,green pricing and green advertisement. These characteristics of green marketing also match with the theme of sustainable entrepreneurship as social and ecological drivers are the core concepts of the sustainable entrepreneurship.On top of that,changing consumers behavior involves changes that take place time to time such as a change in technology, which further leads to changes in product design and features.The awareness shown by most people contributes to green products and services as they have less negative impact on the environment.Lastly,favorable market conditions involves the market opportunity caused by market failure and government intervention in promoting sustainable entrepreneurship. The role of government is very significant in promoting the entrepreneurs, and it is true that entrepreneurship is the engine of economic growth, employment,innovation, and political openness worldwide.Plus,market conditions are crucial for the sustainable entrepreneurs because institutional, structural, social, and economic factors can play a significant role in entrepreneurial investment in new business ventures related to natural resources.In conclusion,the four factors EFP,GMF,CCB and FMC are important factors which contribute to sustainable entrepreneurship and can give significant role in making the business world much more eco friendly.
A sustainable entrepreneurship is a combination of business practices and sustainable development to transform the business sectors.They combine the environmental, economic and social component of sustainability in a more holistic manner and have a different approach than the conventional entrepreneurs.There are four variables that were identified that contributes to sustainable entrepreneurship that is eco-friendly people(efp),green marketing factors(GMF),changing consumers behavior(CCB),and favorable market conditions(FMC).sustainable entrepreneurs are mainly influenced by their social values, environmental awareness,personal motivation, and interest towards the environmental activities.More people and the society are more aware of the importance to preserve the environment.They are more interested in environmental activities and they use natural resources carefully which are limited to the earth.They are motivated by environmental values, and they do green business by keeping these values in the theme of their activities.Next,green marketing factors are mostly influenced by the technological and industrial evolution from time to time that led to ecological concern among people.Green marketing practice is an umbrella term that incorporates various green business activities such as green design, green packaging, ecolabeling,green pricing and green advertisement. These characteristics of green marketing also match with the theme of sustainable entrepreneurship as social and ecological drivers are the core concepts of the sustainable entrepreneurship.On top of that,changing consumers behavior involves changes that take place time to time such as a change in technology, which further leads to changes in product design and features.The awareness shown by most people contributes to green products and services as they have less negative impact on the environment.Lastly,favorable market conditions involves the market opportunity caused by market failure and government intervention in promoting sustainable entrepreneurship. The role of government is very significant in promoting the entrepreneurs, and it is true that entrepreneurship is the engine of economic growth, employment,innovation, and political openness worldwide.Plus,market conditions are crucial for the sustainable entrepreneurs because institutional, structural, social, and economic factors can play a significant role in entrepreneurial investment in new business ventures related to natural resources.In conclusion,the four factors EFP,GMF,CCB and FMC are important factors which contribute to sustainable entrepreneurship and can give significant role in making the business world much more eco friendly.
Owners of the blog/admins
Name : Saiful Suhail bin Saiful Lizan
ID : 62212117365
Age : 19 years old
Hobby : Playing football
Course : BBA (Management and entrepreneurship)
ID : 62214117215
Age : 19 years old
Hobby : Playing futsal
Course : BBA (Marketing)
Name : Muhammad Hafiz bin Jin Azman
ID : 62212117092
Age : 22 years old
Hobby : Editing picture
Course : BBA (Management and entrepreneurship)
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