Managing The Development of Small Businesses in Terms of Inflation - Free Essay Example

Sample details Pages: 10 Words: 2878 Downloads: 5 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Level High school Did you like this example? Managing the development of small business ventures Nowadays, businesses are growing day by day. But inflation is becoming challenges in front of small and large types of businesses like there are many countries which are facing this problem. There are lots of countries which are increasing the price of their products day by day because of inflation. Inflation: There are negative and positive effects of inflation on small and large type of businesses. Some of businesses want to earn more money that is why they grow the prices of their products and it is also a part of inflation like in New Zealand the burger king (BK) raised the price of a double cheeseburger from $1 to $1.19 and they removed one slice of cheese from double cheeseburger on its dollar menu (they now call it the BK dollar double) due to the inflation dilemma that business ventures are dealing within the current economic environment. Sometimes some restaurant changes their prices on bases on national pay rate of labour like last year the pay rate of labour or minimum pay rate was $13.75. But now government has changed it from $13.75 to $14.25 and that is why BKà ¢Ã¢â€š ¬Ã¢â€ž ¢S costs are going up on the producer level because of higher commodity prices. Burger king (BK) cut the quantity and raise the price and they launched this burger with new name because they want to at tract more and more customers and also want to earn more money by giving it new name like double cheeseburger to BK dollar burger. On the other hand, BK also have another reason to raise the price like in a healthy economy, BK would have simply raised the price of the burger. However with demand weak, BK is forced to cut its offering by giving its customers only 1 instead of 2 slices of cheese if they order from the dollar menu. Interest rate: An interest rate is the rate at which interest is paid by a borrower (debtor) for the use of money that they borrow from lender (creditor) like banks. Specifically, the interest rate is a percentage of principal paid a certain no. of times per period for example a company borrow a big/small amount of money/capital from bank to buy new assets for their businesses. There are some conditions are apply on loan like if any company borrow small amount of capital then they have to pay high interest rate on that money and there are less chanc es to expand the business as well. The chances of profit will goes down like Sak Strand bag Company. This company is a highly successful wholesaler of handbags since 1989. The companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s forte is fabricating high-quality handbags from distinctive, richly textured textiles. In 1999, after 10 very successful years in the handbags business, SS decided it was time to expand their products line. They expanded their products lines such as footwear, belts and jewellery. Mr. Falucci, CEO of this company played spin the wheel of growth and considered getting additional loan from the ANZID bank, the same bank who provided them the company its capital during its first year of operation. After getting loan they have to burden the interest rate of 10% of the amount loaned per month. Unemployment: Unemployment occurs when people are without work. There are positive and negative effects of unemployment like if people are unemployed then there are lot of negative effects . The profits will goes down because of unemployment in a business and the sales become less. Unemployment has negative effects on tax system like the tax will goes to high because of unemployment. On the other hand, due to unemployment there cheaper labour will be available and we can find more and more people who has good qualification or not for work. Maxx started the big business around of 85 restaurants in Sweden, compared to 40 jut five years earlier. From 2005 to 2010, max expanded extensively to the western parts of Sweden. Plans have been announced to expand to New Zealand in 2013/14. In their research of New Zealand employment market, the following information was gathered.in January 2011 OECD figured reported youth unemployment in New Zealand at 19.4% the highest since the early 1990s and above the OCED average. The youth unemployment rate reported in September 2010 by the household labour force survey (HLFZ) was 16.2%, two and half times higher than the rate for al l people. Young men and women have been disproportionately affected by the recession. Indeed youth unemployment has increased significantly since 2008 and is two and a half times more than adult rate. After getting this report, the New Zealand government provided the job assistance to the unemployed people and also organised the many programs by which they could start their own businesses means the government provided the knowledge to the people about the small and large type of business and how they can start these businesses. Investment spending: Money spent on capital goods used in production of capital, goods or services. Investment spending may include purchase such as machinery, land, production input or infrastructure. Investment spending should not be confused with investment means we have to have whole knowledge about that thing where we are going to spend our investment or money. In this condition we have to spend our money on right place or on right time. If we spen d money on right place but the time is not perfect to spend money on business like high labour cost, high interest rate, high transport cost and so on at that time. In these conditions our company will goes to in loss before staring a whole business. Like a 31-year-old Chinese started a restaurant in Auckland, a business born of true opportunity. In, 2004 the team cobbled together $100000 in investment money and additional $500000 for investment spending and started a new company, Salvadorà ¢Ã¢â€š ¬Ã¢â€ž ¢s kiwi food and beverage Ltd. This allowed them to open a coffee house in central Auckland. After several hard times, the business started. After few years from start-up the business has been wonderfully successful. They invested their money at right time or at right place thatà ¢Ã¢â€š ¬Ã¢â€ž ¢s why they got success and they also did hard work as team. Business confidence: In this, any person can start his own new business with fully confident. It means he has whole informa tion about his business what he wants to do. Sometimes people feel very uncomfortable to start a new business with confidence because of lack of knowledge and confidence. Experience about business is important factor for business confidence like Boos and Goud used their experience at right time on a magazine prototype with $50000 capital from family and friends. They called the magazine Pink, to suggest that women can be both powerful and feminine. An ad recession time for under way and working women magazine had gone out of business in 2001, after 25 year run. When they launched the Pink magazine, there were not too much magazines because of recession. It was positive point for their business. They also used their experience like they started the meeting with big companies for their marketing and promotions and so on like coco-cola and Home Depot. With 300000 coaxed from advertisers over a one- year period, the first 98- page issue was produced in mid-2005. They earn $5 million in income from ads, conference, and syndication, they claim margin of 16%. They earn this large amount of money because they used their previous experience, time and they were fully confident. Share market: The share market is always depending on fluctuations of market prices or rates. When the company needs more money, they produce their shares in market. Sometimes the prices goes to high sometimes it goes to down because of fluctuation but when the prices of shares goes to very low then people (who bought the shares) complaint to the CEO of company about this. We have an example of share market fluctuation like JRV Company and it is NZà ¢Ã¢â€š ¬Ã¢â€ž ¢s fastest growing company, the company has sustained a remarkable growth rate through a superior product, a very effective sales system and intensive marketing. The business selling construction supplies like cement, ceramic, tiles metal and structural beam and etc. these are coming from different companies in Europe. This franch ise is still in its early stages in terms of market penetration, so the potential to grow revenues is enormous. Since the business is imported based, they monitor the flow of the share market. 1.5) (a) Increase in business: business confidence increase will increase the investment which will help to increase in the business. (b) Increase in jobs: due to the increase in business Pink will need more people which will increase the jobs in market. 1.6) sudden changes either up or down on the share market can affect the value of the New Zealand dollar on the international money market. If dollar will falls, import cost move which means importers have to cut margins or increase prices. 1.7) 1.7.1) Credit availability: lack of capital history may affect applications for capital investment expansions however a strong presentation highlighting the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s rapid growth and success to date should go some way to offsetting that negative factor. 1.7.2) gross domestic product: wing zones target make is the highly mobile student sectors that traditionally service on fast food and have little consideration for long term financial matters and are not likely to be affected by GDP. All people have to eat even hard time so GDP factors may not have a major affection on wing zone. 1.7.3) national income: decreasing business profit and wages and salaries may cause reduced consumer spending in non- essential market sectors but generally food supplies and sales will maintained. 1.7.4 Money supply: reserve bank restriction on May supply may restrict or slow down the availability of funds for business expansion. 1.7.5 International trade: McDonald and burger king but they have an international business. They have their franchise almost in all country. Fast internet connection will develop their business and social media network that is best way to develop the business. 1.7.6 International Market Fluctuation International market fluctua tion effect the stock market. They also affect a small business. 1.7.7Currency Fluctuation Fluctuation risk on the foreign Exchange their price will low and high they most effect on the small business. 1.7.8Balance of Payment Balance of payments accounts are an accounting record of all monetary transactions between a country and the rest of the world. These transactions include payments for the countrys exports and imports of goods, services, financial capital, and financial transfers Task 2 2.1 Disposable Income: -Disposable income is total personal income minus personal current taxes. In national accounts definitions, personal income, minus personal current taxes equals disposable personal income. They started a small business it is very hard to save amount because they need a best employers to work and best product goes to market and they also need a promotion like advertisement on TV, Newspaper, Magazines, Etc. 2.2 Population Trends: In population Tre nd How many people drink beers and how many people drink a wine in their life. Youth Generation not drink a wine 18-24 aged represent only 6% of wine consumed. But there is different choice in the market to buy a wine and beers choice available. 2.3 Building Permits: Building permit is a permit required in most jurisdictions for new construction, or adding on to pre-existing structures, and in some cases for major renovations. Generally, the new construction must be inspected during construction and after completion to ensure compliance with national, regional, and local building codes. Failure to obtain a permit can result in significant fines and penalties, and even demolition of unauthorized construction if it cannot be made to meet code. 1.7.6 International Market Fluctuation International market fluctuation effect the stock market. They also affect a small business. 1.7.7Currency Fluctuation Fluctuation risk on the foreign Exchange their price will low and hi gh they most effect on the small business. 1.7.8Balance of Payment Balance of payments accounts are an accounting record of all monetary transactions between a country and the rest of the world. These transactions include payments for the countrys exports and imports of goods, services, financial capital, and financial transfers Task 2 2.1 Disposable Income: -Disposable income is total personal income minus personal current taxes. In national accounts definitions, personal income, minus personal current taxes equals disposable personal income. They started a small business it is very hard to save amount because they need a best employers to work and best product goes to market and they also need a promotion like advertisement on TV, Newspaper, Magazines, Etc. 2.2 Population Trends: In population Trend How many people drink beers and how many people drink a wine in their life. Youth Generation not drink a wine 18-24 aged represent only 6% of wine consumed. But t here is different choice in the market to buy a wine and beers choice available. 2.3 Building Permits: Building permit is a permit required in most jurisdictions for new construction, or adding on to pre-existing structures, and in some cases for major renovations. Generally, the new construction must be inspected during construction and after completion to ensure compliance with national, regional, and local building codes. Failure to obtain a permit can result in significant fines and penalties, and even demolition of unauthorized construction if it cannot be made to meet code. Don’t waste time! Our writers will create an original "Managing The Development of Small Businesses in Terms of Inflation" essay for you Create order Maturity Operation smoothly with minimal supervision Review the plans and watch out for new ideas to expand the business At this stage we consider completion and achieving our goals which we set up in start-up stage. Decline Sales are falling, losing market share and fewer employees leaving the company. See ways to revive the business, seeking for help. We try to recover our weakness and try to stay in the business and make others goals. Task 5 5.1 Internal Evaluation: Can have the meeting with the staff to find out the reason of the problem, give them the instructions to follow and perform the work in the correct way. External Evaluation: Have to identify the reason of sales which are going down at that stage and need to look for on the market position, Can take a professional assistance to find the reason of the problem and can take advice from professional finance advisor to find out the reason. 5.2 Decision making technique helps alot to choose the option to solve problem because while doing decision many factors come to be naked and we will get many option to solve a particular and we can also select most suitable solution for the problem. 5.2.1 Breakeven: The break-even is the point at which cost or expenses and revenue are equal: there is no net loss or gain, and one has broken even. A profit or a loss has not been made, although opportunity costs have been paid, and capital has received the risk-adjusted, expected return. 5.2.2 Decision tree: A decision tree is a decision support tool that uses a tree-like graph or model of decisions and their possible consequences, including chance event outcomes, resource costs, and utility. It is one way to display an algorithm. 5.2.3 Payoffs approach: In this technique we use cash flow scenarios to model the future. We can use that data which is already available in the company. 5.2.4 Professional assistance: In this we ask help for a professional who is not a member of our business he is expert assistance. 5.2.5 Group decision making: Conduct a meeting with all member of organization. Solve the problem on this meeting. Every member names and priority issues and ranks ità ¢Ã¢â€š ¬Ã¢â€ž ¢s according to the work. 5.2.6 Cultural consensus methods: Cultural knowledge is shared and systematically distributed. A good decision is one which has taken into the different culture of all the member of the group. 5. 3 5.3.1 Maori- owned and operated business Cultural consensus method: In this method we can share their knowledge. A good decision is one which has taken into the different culture of all the member of the group. Group decision making: They conduct a meeting with all member of organization. Solve the problem on this meeting. Every member names and priority issues and ranks ità ¢Ã¢â€š ¬Ã¢â€ž ¢s according to the work. 5.4.1 Owners who cannot get out of their own way. They may be stubborn, risk adverse, conflict adverse meaning they need to be liked by everyone (even employees and vendors who cant do their jobs). They may be perfectionist, greedy, self-righteous, paranoid, indignant, or insecure. You know the problems but continue to make the same mistakes over and over. 5.4.2 Out-of-control growth. A successful business is ruined by over-expansion. This would include moving into markets that are not as profitable, experiencing growing pains that damage the business, or borrowing too much money in an attempt to keep growth at a particular rate. 5.4.3 Operational inefficiencies. Paying too much rent, labour, and materials. Not having the tenacity or stomach to negotiate terms that are reflective of todays economy may leave a company uncompetitive. 5.4.4 Dysfunctional management. Lack of focus, vision, planning, standards and everything are that goes in good management. Throw fighting partners or unhappy relatives into the mix, and the business is a disaster. 5.4.5 A declining market. The annual industry revenues are steadily declining because of the saturation of the market, the decrease in the market size, or the due to the introduction of a service, product or a technology from huge companies with more buying power and advertising dollars.

E--Commerce Law in the Philippines - 7184 Words

Republic of the Philippines | Congress of the Philippines | ELEVENTH CONGRESS | Second Regular Session | | REPUBLIC ACT NO. 8792 | AN ACT PROVIDING FOR THE RECOGNITION AND USE OF ELECTRONIC COMMERCIAL AND NON-COMMERCIAL TRANSACTIONS, PENALTIES FOR UNLAWFUL USE THEREOF, AND OTHER PURPOSES | | Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled | | PART 1. SHORT TITLE AND DECLARATION OF POLICY SECTION 1. Short Title. - This Act shall be known and cited as the Electronic Commerce Act. SEC. 2. Declaration of Policy. - The State recognizes the vital role of information and communications technology (ICT) in nation-building; the need to create an information-friendly environment†¦show more content†¦(f) Electronic document refers to information or the representation of information, data, figures, symbols or other modes of written expression, described or however represented, by which a right is established or an obligation extinguished, or by which a fact may be proved and affirmed, which is received, recorded, transmitted, stored, processed, retrieved or produced electronically. (g) Electronic key refers to a secret code which secures and defends sensitive information that crosses over public channels into a form decipherable only with a matching electronic key. (h) Intermediary refers to a person who in behalf of another person and with respect to a particular electronic data message or electronic document sends, receives and/or stores or provides other services in respect of that electronic data message or electronic document. (i) Originator refers to a person by whom, or on whose behalf, the electronic data message or electronic document purports to have been created, generated and/or sent. The term does not include a person acting as an intermediary with respect to that electronic data message or electronic document. (j) Service provider refers to a provider of - (i) Online services or network access, or the operator of facilities therefor, includingShow MoreRelatedSwot Analysis : Business Enterprise2101 Words   |  9 Pagesemerging of e-commerce. †¢ The user growth of Social Networking Site. †¢ Increase in usage of technical solutions. †¢ User friendly advancement in digital media. †¢ Internet had become readily available on a larger scale in portable gadgets such as mobile phones, computers and hand-held devices. †¢ Sharing of information is made accessible through the internet. Legal Analysis †¢ Legal factors; Permits required in establishing a business †¢ The Consumer Act of The Philippines †¢ Electronic Commerce Act of 2000Read MoreEssay on LOVE BUG1356 Words   |  6 Pagesfriendly way. They have no idea that they are in for a big surprise as they opened their email. The message inside reads: â€Å"kindly check the attached LOVELETTER coming from me† (Ruppe, May 5,2000). A 22-year-old college dropout was arrested in the Philippines as the author of this virus (anonymous, August 21,2000). nbsp;nbsp;nbsp;nbsp;nbsp; When the attachment contained in the email was opened, the virus rapidly proliferated by automatically sending copies to everyone listed in the user’s emailRead MoreManagement and National Service Training1620 Words   |  7 PagesDance with music | 2 |    |    | Nstp 122 | National service training program ii | 3 |    |    |    | Semester 3 |    |    |    | Eng 213 | Research and technical writing | 3 |    |    | Nat sc 211 | Biological science | 3 |    |    | Soc sc 213 | Philippine history, constitution and government | 3 |    |    | Phys 212 l1 | Collage physics 2 | 4 |    |    | Math 213 | Analytical geometry | 3 |    |    | Cs 215 | Probability and statistics | 3 |    |    | Cs 216 s2 | Computer programming ii | 3 |   Read MoreAirasia Vs Jetstar Fleets : Airlines1185 Words   |  5 PagesBangkok, Phuket, Chiang Mai, Krabi, U-Tapao and Hat Yai. Philippines AirAsia operates domestic and international flights out of Manila, Cebu and Kalibo (gateway to Boracay). It is, by far, the only local carrier that services the most number of international flights from China and South Korea to Kalibo International Airport, with Fly-Thru services via Kuala Lumpur from Manila to various destinations in Asia, Australia and beyond. Philippines AirAsia is part of the AirAsia Group that has been awardedRead MoreNike Swot Analysis1214 Words   |  5 Pagesand minimum weight. It has been copied by competitors but never duplicated. Innovative service Nike recognized early on the power of e-commerce. It established its Nike website to assist its worldwide fan base, allow them to ask questions, design their own shoes, and order shoes directly from the factory (Dworkin, 1999). There was practIcally no e-commerce in 1995, but in 1997 this segment earned businesses $26 billion. By 2002, it explode into a $330 billion industry and $1 trillion by 2005Read MoreNtc Historical Background2237 Words   |  9 Pagesenforcement of radio laws and regulations, particularly the provisions of Act No. 3396, known as the Ship Radio Station Law which was enacted on December 5, 1927. This law provides for the installations of radio obligatory for ships of Philippine register to protect life and property at sea. On November 11, 1931, the Philippine Legislature enacted Act No. 3846, known as the Radio Control Law of the Philippines.Section 8 of the law provides that the Secretary of Commerce and CommunicationsRead MoreSecurity Privacy Confidentiality of Health Information in the Philippines2076 Words   |  9 PagesSECURITY, PRIVACY, AND CONFIDENTIALITY (SPC) OF HEALTH INFORMATION IN THE PHILIPPINES DEFINITION OF TERMS Due to the special nature of health information, the legal and technical aspects of the concepts of security, privacy, and confidentiality (SPC) have a particular meaning in the context of healthcare. Privacy is the right of an individual to limit access to others to some aspect of their person. A more specific type of privacy is informational privacy (which is the notion of privacy we are mostRead MoreMetrobank Strama (Feu-Iabf)7898 Words   |  32 PagesI. Executive Summary METRO BANK The Metropolitan Bank and Trust Company, commonly known as Metrobank, is the largest bank in the Philippines in terms of assets and is also the largest Philippine bank in terms of overseas presence. It has a diverse offering of financial services, from regular banking to insurance. Considering the EFE, Metrobank’s current competitive position or business strength in the industry is above average. Overall, it has been coping up well with the factors whichRead MoreU.s. Foreign Policy Policies Essay1119 Words   |  5 Pagestrust. In the South China sea and East China sea, China has made a claim for certain parts of the sea, which countries like the Philippines, Japan, and Taiwan disputes. Tensions between China and countries around it have risen as China increases their military capabilities. This is a problem because the United States have alliances with Japan, Taiwan, and the Philippines and have an interest in protecting trade routes. Clinton wants to prepare to trust and cooperate with China and the other countriesRead MoreEssay on American Imperialism in the Philippines3614 Words   |  15 PagesAmerica captured the Philippines. This brought about questions of what America should do with the Philippines. Soon, controversy ensued both in the Am erican political arena as well as among its citizens. Throughout its history, America had always been expansionistic, but it had always limited itself to the North American continent. Beginning in the mid-nineteenth century, however, there emerged a drive to expand outside of the continent. When America expanded to the Philippines, the policy it followed

Case Study of Mckinstry Advertising Agency- MyAssignmenthelp.com

Question: Discuss about theCase Study of Mckinstry Advertising Agency. Answer: Introduction The case of McKinstry Advertising is one of a classic example of ethical application of AAA frameworks established in business decision making. The case suggests the dilemma of ethical perspective of a products use over the ethical norms established as per the rule of law. The AAA frame work use for the business is been critically analyzed to recommend the steps needed to be taken while also give an idea about the success or failure of the decisions and dilemma encountered. The competences developed by business by the virtue of introducing client need specific advertising guideline are being questioned by an employee of the advertising firm. The case is discussed on the grounds of ethical prospect of the business in a competitive market. Marilyan as an you associate did not want to work on a project that detected laser from miles away which are used by highway traffic control authorities to check on the vehicle speed. Her explanation was based on ethical grounds tat since speedy car accounts for nearly 75% of all road accidents in many parts of US. Thus this technology would ensure the user to slow down when the laser signal is detected and avoid penalty due to fast driving. The account manager George was furious about this and in feet of rage asked her to quit or work in accordance to the will of the Advertising firm. The case was of a nature that had values of the young executive involved while the necessity of business led George ignore the ethical aspirations of Marilyn. Decision Making The case suggests that the learner is the President of the firm. The job o the president was to come to a solution where the account manager George and the young Marilyn can be satisfied with a good use of judgment. The cause of road accident is one that is not always due to sped but because of the use of intoxicated substances, poor light, mechanical failure. Further when police used radar to detect sped the radar detecting technologies acted in the same manner to alert the driver to reduce speed or face penalty. Further the client commitment and Georges experience were the other pressing issues for the president. The use of such technology would cause accident to reduce is not a valid argument while the use of detection technology to reduce speed is something that is not ethical too. However, such devise existed and had no proof of being a life saver or destroyer if not used or used. The legal application was hazy while in US 75% of the vehicle used it and had no Public or legal op position. Thus accommodating all these issues were to be made. Ethical Dilemma The decision maker had the dilemma of doing the job for the client which they were supposed to do and do it as per the need of the client. However, the ethical point raised by the employee who suggested that road accident avoiding norms is an ethical and social responsibility. However, the responsibility of the advertising agency is not to question ethical aspect of innovation but promote the concept leaving the people to choose. No false information was given neither the advertising was ethically no bound to a suggestion that do not have proven data or is been subjected to public scrutiny in the past. The two alternatives that the decision maker had was either to sack the executive or to follow the line of ethical dilemma as proposed and go against George and the clients interest. Both the points were not feasible for a president to follow being the chief of business. The business would get a bi jolt financially and in terms of manpower or capita asset resignation like George which would be a big loss for the business where the clients appreciation for his job was great and the 20 years of Account managers expertise was something that the business had to have for sustainability. On the other hand asking the executive quit from the job for a ethical and moral standing that was not based out of any personal interest but for a larger social cause would be a step that may be taken as a de-motivating , authoritative and arbitrary in terms of business ethics and policy wise functioning. Thus the two alternatives of opposite nature were unviable in always to be considered for execution. Thus neither the use of pressure tactics of George who threatened to quit would be taken in a way too seriously while the change of the new executives role from one account manager may be done. This would reduce the rage of George as the assistance of George was needed. The ethical perspective of Marilyn was another that was also considered for further deals except the one which the firm already committed upon. Thus the clients delivery delay is an issue while no change of stance of the employees in the aspect if advertising a product with some specification that have perceived links with unethical use were to be considered equally. Thus the decision to be taken was considered by the learner to go with the advertising as the product was not something new in use which was not used for same purpose before. Legally it was not a devise that has harm associated or was considered illegal while there is no evidence that using it or not would have any effect on road accidents. Lastly the fir m would lose the business as the product would be transferred to other agency and thus the ethical stand point was not a good reason to scratch the contract. Hence the ethical dilemma was kept aside as it could not outweigh the reason for greater good and business profits. Utilitarian, Kantian, Rights ad Distributive Justice systems The approaches used by the managers in global arena to execute the three aspects of globalized business administrations. The adaptation, aggregation and arbitrage are the three requirements of business and business managers to be effective in business and take decisions for business those are adhering to the global business ethical standards. The same is discussed with the AAA framework of business. Adaptation: The need for a business to accommodate its operations with the needed global competencies to increase its viability in terms of interracial market share gain. The exploration of local markets and develop economy of scale in profusion is the idea. The adaptability the business in developing its business strengths has to adapt in accordance to the needs of consumers, market taste, and competitive structures. Configuring the market tastes, geography, economy etc are few adaptability issues that the manufacturer needs to consider. The development of manpower suitable for the businesses developed who are to be the capital assets for the business while adapting to new process and skills for the same. The corporate idea is to merge the business objectives so that the corporate image and involvement with locals are important for corporate governance. The vibrancy, sharing attitude, decentralization of decision making the team motivated and make them give best in the local markets thus innovation and idea flow enhanced. The utilitarian aspect too suggests the adaptability aspect to generate the maximum utility. Again the view of such utility balance the decision between George and Marilyn may be used to decide whose utility is more acute for the business and what all utility do the ethical stand pint observed had to be considered in a serious business development note. The Aggregation: The term itself signifies the economic and standard developments at par with intentional standards. The horizontal expression and transmission of globally practiced used ideas for standardizations. The emphasis and scale for economy generation as well as quality aspects are considered here too. However the power centers are generally managed by the Head of departments the fear of having backlash due to homogeneous practices are not equally treated as same by many as due to difference in culture and tastes. The aggregating is the part of business that formulates it internal, legal, manpower that determines the benchmarking for the specific market while develop edge over the competing firms. The arrangement of business operational a profit activity, allocation of tasks,, strategic time bound targets are supervised to see the execution sat par with along with supervision to keep the objective and guidance to the path to business development among clients and stakeholder s, as desired. The distributive justice system is observed as the justice is done with decision making that ensures justice and aspirations of all or the maximum of he people while deciding. The Arbitrage: Businesses like Apple, Microsoft are few to name among many that have acquired a good repute internationally. The ability of the business in gaining the global market share is a issue that suggests thats dependent upon the specialization he business that has made it as it is today. Dismissal of suppliers involved in mal practices, incorporating suppliers with credibility and honor political interventions that may affect the production is also kept in mind. This process generally entails a leader who provides the direction, provide strategic direction. Thus the leaders authority to replace ones intentions in business and show the power and arbitration capacities in the case is the aggregate of the ethical and business instruments at his command. The argument put forth is been directed towards the advantage building. However the leader role in identifying the needed processes and change along the necessities for doing business The other parts of such plans are for major social and national benefits where the commoners hall get the needed fasciitis to help them in need. Nevertheless, the extra complexity in terms of occurrences to be successful needs special look and introspection. The other aspect is the change of position which may bring in new problems in terms of policy stability and aspirations. Kants observations suggest the ethical practice irrespective of objections as a part of rules and duty was observed by the employee Marilyn. However, the consequence on business or the Account Manager was not considered. The rights of one may create barrier to others goodwill or wishes thus the rights of expression was given a scope by the President while the right to terminate was to be decided and may be considered unethical from a Distributive Justice point of View. Recommendations The case is such which needs a two way introspection to give a judgment about the way one looks at the case. The Marilyns point of ethical practice use in the business process is one while the other was Garys expression and the business needs. The use of a laser detector is generally used for cars, indicate the highway patrol cars presence. However, the same technology was used in past when radars were used. The ethical dilemma is outweighed by the products utility if be viewed from other point of view. The case was not new and nor was the use of such technology. Legally and from users point if view it was a natural accessory to 75% of US Vehicles. Thus the employee may be transferred under other account manager than that of George, while George may continue with the project which needed his personalized assistance and expertise. The use of distributive justice system as well as Kants views would be kept in the business practice. Such idea should also flow to ensure that the business do not engage in mal practice or promote unethical lies for its clients. However, the case for using a laser detector is not unethical in strictest sense when the pan American view is considered. Thus the social injustice is not done to deliberately harm people. The business can thus do the project without the fear of ethical stand point rectification as the same would not disrupt the accidents on streets which otherwise have variety if reasons like rash driving, intoxication, mechanical failure etc so the product and ts advertisement is not unethical from the researchers stand.

Entrepreneurship in International Emerging Economies †Free Samples

Question: Discuss about the Entrepreneurship in International Emerging Economies. Answer: Introduction An entrepreneur is an individual who is responsible for starting a business endeavor. At the inception of any business the risk is evaluated to be very high, though it depends upon the industry as well but initial capital acquisition, risk, liabilities are all on the shoulders of an entrepreneur. Efficient and successful entrepreneurs are the growth basis of any economy as it ensures new business. Entrepreneurship is broad and much more complex concept than just about a new business venture, it is an distinguishing attitude of an individual to lead, manage, organize, plan and bear risk without panicking (Kearney Hisrich, 2014). A person who is willing to work passionately for the business he or she has built is an entrepreneur. Jeff Bezos began his business from his garage by selling books online. He founded Amazon in the year 1994, this was the early days of internet and Jeff had seen an opportunity which he grabbed. Today Jeff Bezos has taken the crown off Bill Gates of being the wealthiest man in the world (Jeff Bezos: the 'obsessive' Amazon founder and world's next richest man, 2017). Analyzing the interview of Jeff Bezos Jeff Bezos has repeatedly mentioned in his interviews that there are three topics or point of focus for his growth and development in the business. Firstly, he says that he always look at the larger picture, thinks on a long run basis. Secondly, the focus is not on sales, not on the profit margins of the company but on the customer satisfaction. Thirdly, he believes in innovations and development of new and improved ways and means to grow in the market and in the industry. As an entrepreneur of a benchmark company and pioneering in the e-commerce field of business, Jeff is a rather humble person. To help develop a new business idea, one must be far sighted, and should adapt to change. Change is constant and will continue to happen within the organization or externally. The company should be ready to face the challenge at any point of time and it is dependent on the attitude and riskmanagement capabilities of an entrepreneur. When Jeff was asked about the risks and challenges or unforeseen situations suddenly hit the market how does he keep his clam and deal with situation. He replied saying that it goes back to being farsighted and thinking about the long term. A farsighted entrepreneur should be able to deal with and be ready to tackle any circumstance (Ucbasaran et al. 2013) Jeff also believes in advertising the truth about his service to his customers. As Amazon is known for its customer centric behavior and service, the founder of the company also believes that the center of success is the consumers and hence they should be able to see clearly what they are being offered. He doesnt believe in promoting something and providing something else to his customers. Amazon has two types of business one form the seller end and the other is the buyer end. The seller end of the business is the people who can use the platform to sell their products. It is seen that Amazon does not only have big selling giants in the portal. They also have a good place for any new business or startup as well. It is important for Amazon to encourage and motivate new business because Jeff as an entrepreneur understand the value of starting small and what capabilities small industries have. As worlds richest man he has a responsibility to help develop and grow new business ideas (Aldrich Yang, 2014). In his interview Jeff says that he does not believe in shortcuts and there are step after step which are to be taken in order to reach a milestone. These milestones or goals in the long run help achieve the object of the company. There should be passion and love for the work and that is the only way to success. He talks about understanding of an opportunity, initially there was a just books that was available in Amazon which he sold form his garage in Seattle. And now Amazon is a multinational company with thousands of employees worldwide. Bezos says that, his passion for Information technology and his love for reading is what drove him to begin in the first place and rest fell in place because his knowledge about the internet and his understanding of its reach has made him who he is today. He says that passion is what has driven him from the beginning and it is what is still driving him to innovate and invent use new ideas to face new challenges of the changing world (Jeff Bezos - Thinking for the Long Term, 2017). Available at: https://www.youtube.com/watch?v=_lAizH_Ycxc Personality Attributes of an Entrepreneur From the above interview we can infer some of the following personality attributes of an entrepreneur and what drives an individual in creating and developing new business ideas: Passion: Any successful business is an outcome of the passion of its entrepreneur. It is passion that motivates and continuously inspires an individual to develop and innovate. A successful business is the hard work of a passionate entrepreneur. Nothing should be left on chance it is knowledge and understanding that helps create opportunities. Be it a small scale or a large scale business it is important for the entrepreneur to be passionate about what he or she is offering and should strive for betterment (Cassar, 2014). Understanding opportunities: It is important for an entrepreneur to understand and develop on existing opportunities and should also have policies which will may way for more opportunities in the future (Baum, Frese Baron, 2014). Farsightedness: thinking long term is the basis of any successful endeavor. A company has to lay down policies and develop in accordance with the external and internal business environment and this requires the entrepreneur to be farsighted (Almeida, Ahmetoglu Chamorro-Premuzic, 2014). Leadership: A leader is a person who can motivate and inspire others to follow a definite path or ideology. A successful entrepreneur should be a good leader so as to make others work and share his passion for the development of the company. Customer centric: An entrepreneur should focus and form his policies keeping in mind first the quality of the product or service that is being offered to the customer. It is important for a new business build a customer base people who are loyal to the brand that the new business is trying to create. This will only happen if the company focuses on the development of customer service and cultivate the product or service they have to offer keeping in mind the end consumer (Caliendo, Fossen Kritikos, 2014). Innovation and hindrances For any new business to develop and expand in the market it is important to keep innovating and upgrading according to the changes in the environment. One of the major difficulties that new businesses face is the capital generation for innovation. It is a hard fact to accept that a new business will get any profit in the first few years. Hence the availability of rotational funds is comparatively less. But this is where the passion of the entrepreneur is at test (Leutner et al. 2014). Sometimes strict rules for the resources also can behave as a barrier towards innovation. Open thinking and opportunity to test is one of the key elements of innovating new and improved business (Kuratko, 2016). It is imperative for new business to have an open mind and liberal through process so that the resource at disposal has the opportunity to innovate on their own. There is also a lack of control and improper disposal of power in a new business, which can work as a barrier in innovation. People also confuse creativity to innovation. They are different and have a different approach and requirement. On need to be creative in order to invent and think with an open mind (Drucker, 2014). Conclusion The above interview of Jeff Bezos is very insightful for any aspiring entrepreneur as it gives us idea about the do and dont. The point that Bezos is talking about in the interview has practical relevance and is a proof why he is now the richest man on earth. His view on being obsessive consumer centric is something all industries should follow and incorporate in their policies. He is also spot-on about being passionate if one wants to start a business he or she should love what he is doing. A new business is not like a 9-5 job the entrepreneur has to live in the dream that he or she is about to build. There are no holidays for an entrepreneur as there are no short cuts to success. References Aldrich, H. E., Yang, T. (2014). How do entrepreneurs know what to do? Learning and organizing in new ventures.Journal of Evolutionary Economics,24(1), 59-82. Almeida, P. I., Ahmetoglu, G., Chamorro-Premuzic, T. (2014). Who wants to be an entrepreneur? The relationship between vocational interests and individual differences in entrepreneurship.Journal of Career Assessment,22(1), 102-112. Baum, J. R., Frese, M., Baron, R. A. (Eds.). (2014).The psychology of entrepreneurship. Psychology Press. Caliendo, M., Fossen, F., Kritikos, A. S. (2014). Personality characteristics and the decisions to become and stay self-employed.Small Business Economics,42(4), 787-814. Cassar, G. (2014). Industry and startup experience on entrepreneur forecast performance in new firms.Journal of Business Venturing,29(1), 137-151. Drucker, P. (2014).Innovation and entrepreneurship. Routledge. Jeff Bezos - Thinking For The Long Term. (2017).youtube.com. Retrieved 12 August 2017, from https://www.youtube.com/watch?v=_lAizH_Ycxc Jeff Bezos: the 'obsessive' Amazon founder and world's next richest man. (2017).theguardian.com. Retrieved 12 August 2017, from https://www.theguardian.com/technology/2017/jun/02/jeff-bezos-amazon-founder-worlds-richest-man-bill-gates Kearney, C., Hisrich, R. D. (2014). 6. Entrepreneurship in developing economies: transformation, barriers and infrastructure.Necessity Entrepreneurs: Microenterprise Education and Economic Development, 103. Kuratko, D. F. (2016).Entrepreneurship: Theory, process, and practice. Cengage Learning. Leutner, F., Ahmetoglu, G., Akhtar, R., Chamorro-Premuzic, T. (2014). The relationship between the entrepreneurial personality and the Big Five personality traits.Personality and individual differences,63, 58-63. Ucbasaran, D., Shepherd, D. A., Lockett, A., Lyon, S. J. (2013). Life after business failure: The process and consequences of business failure for entrepreneurs.Journal of Management,39(1), 163-202.