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Entrepreneurship involves implementation of alternative ideas to develop a business venture which is profitable (Chapman, 2012). An entrepreneur should be able to conceive alternative ideas from time to time. Since opportunities are available for a specific period, entrepreneurs should be able to implement the most profitable alternatives and will vary as situations vary. Therefore, before any investment is undertaken, an entrepreneur should be able to regulate all available alternatives and then select the most viable from the available alternatives.
Innovation results to efficiency in production both in terms of time saving and resource utilization (EMAP Ltd. 2010.) Skilled and creative individuals have different alternatives of producing commodities. They will apply the most effective approach in each situation thereby resulting to effective utilization of resources. For example, utilization of automated teller machine (ATM) in the banking system has resulted to increase in the number of transactions completed in a day. This has resulted to a tremendous growth of the banking industry across the globe.
Quality improvement results from efficient in utilization of resources. To obtain excellent quality, the producers have to utilize current technology (EMAP Ltd, 2010). Excellent quality products have minimal rejects and utilize all available resources effectively. Due to decline in waste as a result of excellent quality product, the producers are able to gain more from their production activities. For example, hospital offering excellent medical services will have minimal legal cases and will also increase their clients hence increase in productivity.
An excellent leader should establish a team through whom they will be working together. A team leader should be someone who can be able to coordinate all the members to achieve desired results (Team Building Leadership,
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According to Lamb (1984), strategic management is a continuous process that controls and evaluates the business undertaken by the organization, evaluates the potential of its competitors of the organization, and it specifies goals and strategies for the organization in order to enable it to face the threats posed by the competitors, and then re-evaluates the efficiency and effectiveness of the strategy on a periodic basis.
Exam 1 is due Tuesday 9 October. Late exams may not be accepted. You are expected to submit your own work. This exam is "open-book". You may use your books, notes, and the conferences to answer the questions - research beyond these sources is not necessary to complete this exam.
Such include the bodily desires and wants such as the sexual and aggressive drives among others. Super ego is the other extreme that represents the personality virtues that arise from social interactions. These features arise from those that an individual interact with the most such as the immediate society constituting the parents and peers.
Along their journey up, a member of the group comes down the mountain and dumps a hurt sadhu(Holyman) at their feet and states that he had done what he could to take care of him and head back to the mountain to continue with his journey. The
Economic and relational theories are employed differently across the globe, leading to the formulation and implementation of policies that best suit a given nation’s setting and the society therein. In this regard, economic and
For instance, an angry mom telling his son to stop watching too many cartoons and instead spend that time on a school subject that he finds difficult. The child would repeatedly tell mom that he hates that subject and does not want to study. Mom would simply get