CAUSES AND SYMPTOMS OF SEVERE ACUTE
A Term Paper(Reaction Paper)
In partial Fulfillment of the
Requirements of business finance
In the M.B.A Program
Yao yu long
1ST Semester AY 2012
However, their innovation proved wrong after a decade’s time. It left the entire world stranded. Every country is dependent on its government stimulus packages to power the economic growth. This failure has got several lessons for entrepreneurs to learn. The same might happen for the entrepreneurs if they fail to think about the negative aspects of their ideas.
On the lssue No.2
Requirements for business owners:
The business owners should have prior experience before doing a start up. It is important to work on the floor before becoming a manager. It will help them to understand the practical issues that are involved in running the business. There might have been different organizational culture, governing tips, managerial systems and leadership styles. The entrepreneur must identify the right kind of system and ideas to be implemented in his own business. When the economy is developing and booming, innovative ideas can further propel your growth.
Make sure your innovative ideas make you reach the further stages of business and provide with ample numbers of opportunities. In the down side economy, your ideas might even let you down. Make sure that you have a proper mentor to guide you through the difficult phases of business. This will ensure success in your business.
On the lssue No.3
Innovation plays a key role:
Innovation should not be considered as a part of business ideas rather it should be the foundation pillar of your business. If this can be strong, the entire business can be a great success. Entrepreneurs have to understand some of the important aspects of innovation.
Big companies have to foster the culture of entrepreneurship with their employees. This will help the employees to come up with their new and innovative ideas. There are several nurturing clubs which could fund the ideas. On most cases, this will encourage the employees to come up with their ideas to improve the business of company. It is not always possible for the managers to improvise the business and keep it running successful.
Entrepreneurship is Risky and Rewarding
Entrepreneurship is the order of the day. There are many start ups being done in every corner of the world. People are willing to try their hands in the business areas where they have some expert knowledge. A recent survey states that only 35% of the total start ups successfully carry out their ventures after their third year. Business becomes so pathetic and it takes time to prove your skills most o f the times. However, do not be disheartened with such factors. You should take the pride in yourself for cultivating the spirits of entrepreneurship. Most people will think in the traditional way to study hard and to get a good job to earn handful of money.
oxford Online Handbook of Entrepreneurship