A Way Of Thinking By Entrepreneurs Business Essay

A Way Of Thinking By Entrepreneurs Business Essay Successful companies are driven by visionary people in an effective and efficient way, those people are called entrepreneurs. The Oxford Dictionary provides the entrepreneur concept as â€Å"a person who undertakes an enterprise or business with probability of gain or loss, a contractor who acts as an intermediary, a person who assumes effective control of a business venture. It comes from the French word Entreprende or undertake†. Glancey and Mc Quaid (2000) define them as the protagonists of the process of entrepreneurship The entrepreneur is a leader, who sees opportunities where others see nothing, or only see difficulties. The entrepreneur makes a commitment that leads him to develop an unknown practice to solve a variance in small or large scale, A Entrepreneur will achieve recognition by pleading responsible to solve the problem and meet people who have similar interests. One aspect that should be present in an entrepreneur is: Believe in their own abilities, knowledge and skills, evaluate them, and be consistent with them at all times, these aspects provide confidence in themselves and in what the entrepreneur exposes as business idea These definitions are pointing to the entrepreneur as a person who seeks a reward assuming some risk (potential loss). Basically, the entrepreneur senses a need and then meets of the manpower, materials and capital needed to meet that need. In essence, an entrepreneur creates an organization as a means to offer something new to customers, employees or other stakeholders. Some entrepreneurs use information available to everyone, to produce something new. According to Timmons (1970) the creation and success of a company is not only necessary to administer and manage. The current business generation needs to be led, so organizations need to rethink their culture and practices. Direct them to seek dynamic processes, aimed at the opportunity, where there is the presence of a leader and business team: creative, careful a nd moderate resources, integrative and holistic vision, in order to establish a balance between all the driving forces The entrepreneur is the main engine of capitalist economic development. According to Schumpeter the benefit of the employer is justified by being an innovative ability to create wealth. If the economic system is in equilibrium, all factors of production are paid according to their marginal productivity (Schumpeter,  1934) Characteristics of an Entrepreneur à ¢Ã¢â€š ¬Ã‚ ¢Entrepreneurship. à ¢Ã¢â€š ¬Ã‚ ¢Vision and imagination creative and innovative. à ¢Ã¢â€š ¬Ã‚ ¢Need for achievement. à ¢Ã¢â€š ¬Ã‚ ¢Perseverance and dedication. à ¢Ã¢â€š ¬Ã‚ ¢Teamwork. à ¢Ã¢â€š ¬Ã‚ ¢Comprehensive view of market needs. à ¢Ã¢â€š ¬Ã‚ ¢leadership For example we can mention a current entrepreneur who gained a great market space: Andrew Mason, 29 years, is the creator of Groupon, the web coupons, which became successful with a simple innovative idea .One of the fastest growing compa nies in history, according to Forbes. After saying no to Google, which offered U.S. $6,000millions, they now have a value of U.S. $950 million.Its creator explains why the success of the company very simply: â€Å"We won a commission, customers pay less for the product and associated companies get a return on a large scale for their products and services.†(gruopon.com) Effectuation – Tool of Entrepreneurs

Starbucks Essay Example | Topics and Well Written Essays - 2000 words

Starbucks - Essay Example The next portion of the essay will describe theoretical background of marketing concepts. Marketing Concepts Research scholars such as Burrow (2011), Sandhusen (2000), and Mercer (1996) have stated that organizations need to decide marketing strategy in terms of marketing mix, segmentation and target market, in order to become successful in competitive business environment. Kotler et al (2009) have pointed out that organizations need to change marketing mix such as product, price, place and promotion in accordance with the situational perspective, in order to achieve competitive advantage. Kotler et al (2009) have tried to establish link between implanting right marketing strategy and competitive advantage model proposed by Michael Porter (1980, 1985, and 1991). Elements of marketing mix can be explained in the following manner: Product Companies manufacture new products in order to match steps with the ever-changing nature of consumer demand. Organizations develop products through m ultiple stages like generating idea about new products by using primary and secondary research; selecting the potential idea through idea screening, testing the concept of product development with the help of feedback of customers, analyzing the business aspect of the product development such as market volume, price estimation, market size calculation etc., launching the product in small market segment in order to test acceptance of the product, manufacturing the product on commercial basis after achieving success in test marketing phase and finally commercializing the product. Ansoff matrix can be used in order to understand the significance of product concept in marketing. (Source: Stone, 2001, p. 51) According to Ansoff matrix, companies develop product strategy due to four reasons, 1- increasing market penetration by existing products in existing markets with an intention to decrease risk factors associated with entering new market, 2- developing new products for the existing ma rket in order to achieve competitive advantage over competitors, 3- launching an existing product in new markets in order achieve business growth in foreign shore without investing huge amounts of capital in new product development, and 4- launching new products in new markets in order to create brand awareness among customers. Mintzberg et al (2003) have stated that companies need to decide the product portfolio in accordance with the demographic and societal trends of a particular country. Price Companies decide the price of products in accordance with macro environmental characteristics of market and in some cases organizations decide the price of products in order to enhance brand image. For example, Apple use premier pricing policy or assigning high price on products in order to show class and aristocracy, while Wal-Mart uses cost orientation strategy in order to offer everyday merchandises at everyday low price (EDLP) to customers. Adopting EDLP model has helped Wal-Mart to ac hieve price competitiveness over their competitors. Place Companies decide distribution strategy in order to distribute products to customers. Organizations design distribution channel backed by retailers, wholesalers, online sales channel, c&f agents, company sales executives etc., in order to

Art History (Michelangelo) Essay Example | Topics and Well Written Essays - 250 words

Art History (Michelangelo) - Essay Example The placing of David outside of the Florentine government created a symbol for freedom and protection for the residents of the city. Instead of portraying King David from the Scriptures after defeating Goliath, Michelangelo decided to show David before the great battle with Goliath. The slingshot hanging casually over his back show David’s fearlessness fulfilling Catholicism theory that David had God on his side. The muscle toned young man Michelangelo depicted was another portrayal of the heroic nude. The heroic nude of David could be considered as the strength of God through a human in this instance. Although a famous sculpture, David does have a flaw. The most noticeable flaw is the fact that David is uncircumcised. Michelangelo learned to draw nudes from the morgue of Florence, but probably never seen an unclothed Jewish man. Even if he did see an circumcised male, the questions of placing a circumcised male in view of the public would have been too controversial. David fulfilled a prideful purpose for the city of Florence. A strong looking Italian David stood guard over the government. The calmness in the statue’s face shows no fear in the face of an enemy. David reassured the Florentines no matter the other