Detailed Character Description Essay Example | Topics and Well Written Essays - 500 words

Detailed Character Description - Essay Example In the attack his wife was murdered and Earl received severe injuries resulting in amnesia. Earl in a story possesses round character as he has many complex traits. As we go further reading the story it can be seen that Earl possesses emotional personality. This trait became part of his personality after the unpleasant event took place in his life. Despite of his illness and unreliable memory he tried to remain focused this shows his consistent behavior. Earl has courageous nature which helped him to escape from mental institution. This also shows his risk taking nature as he did not care about the consequences and escaped from the hospital. Not only was this he was highly determined in pursuit of killing his wife’s murderer that he developed different ways to preserve his memory. As mentioned in the story he uses letters and tattoos to keep track of various information. Since Earl is depicted as the most tragic character of the story but despite of his tragic life he remained much focused and throughout the story he did not allow his illness to overrule his mission (to kill his wife murderers). His attempt to achieve his aim shows his hardworking nature and serious nature. He is portrayed as highly motivated character of the story and due to his motivation he was able to accomplish his mission of reaching to his wife murderers. Faith is an important personality trait of Earl. He had strong faith in himself that helped him to carry on his mission throughout the story. Jonathon Nolan described Earl as a serious character of the story who had not shown signs of silliness despite of his mental illness. There were times when he faced situation of desperation but this desperation was not because of his personality but it was due to his mental illness. Because of his strong character he did not let desperation to rule him instead he administered it wisely. There were many positive characteristics possessed by Earl but it is important to mention

Time and Landscape Essay Example for Free

Time and Landscape Essay A landscape where we live in can influence who we really are as we grow up with it and it allows us to understanding more about ourselves with our constant interaction with the landscape. However it is possible that we are not able to connect with the landscape, because of our incompatibility with it, hence it has no impact or influences upon us. Sometimes we adapt ourselves to a landscape and we learn from it, but due to unforeseeable circumstances, we change to a different environment and we have to evolve our mentality in order to be able to comprehend a new landscape. Through time, we can have a better understanding about ourselves as we bond with the landscape and we tend to eliminate any ambiguity that exists between ourselves and the landscape. A landscape where we grow up in provides us sentimental values and it is these values that provide us with thoughts to reflect on during tough times, due to the significance of the landscape. What we are able to learn and decipher from a certain landscape is different to others because no two man would ever see a same vision from a same angle and any attempt to share thoughts would create an undercurrent of hostility towards each other. It is these landscapes that can provide us memories that are so deep that we are not willing to let go of it and we hold on to it to death. This notion is explored through Rachel Perkins’ film One Night The Moon through the physical dominance of sky and the mountain ranges, where we learn about the landscape and also the mental struggle of its inhabitants. In One Night The Moon , the story explores a theme of loss, whereby the loving child Emily Ryan. It is also possible that we live in a landscape for a long period of time and we start to fight against it. People often abide their traditions as they learnt it from their ancestors which have passed in down from centuries ago. These traditions are contained within a landscape which influences them to have those traditions. The constant evolving of the world have forced a certain groups or individuals to alter their traditions, but they are still who they really are in the sense that their sense of belonging deeper down heir hearts are the same. Aboriginals in Australia may have had their land invaded by white settlers, but they still live in their own little communities. Although they have lost some of their cultures, but the memory of it is still within them because it was their interactions with the Australian landscape in the past that influenced them deeply, thus engraving those memories in their hearts. They may have physically lost the battle trying to keep the landscape they own, but they will never lose the mental battle because memories and imagination allows individuals to convert things that are completely different to something in which they understand. This is similar in One Night The Moon because even though Albert worked for the police he will never be able to forget his landscape from the past because it is in his blood. Xxxxxfinish this paragraph. Our actions portrays who we are, but ultimately it is the landscape in which we live that influences who we are and subsequently transforms us to project our true emotions. Landscapes not only influences us , but it also helps to create memories. However sometimes we do disagree with a particular landscape and we try to repel from it, but what we are unaware of is the firm recollection that they provide to us in our hearts and it makes forgetting a certain landscape something hard to do.

Free Hamlet Essays: Thoughts on Hamlet :: The Tragedy of Hamlet Essays

Final Thoughts on The Tragedy of Hamlet In light of the biographical information that was recently presented in class, The Tragedy of Hamlet, Prince of Denmark has the potential to take on new meaning. Instead of just being a play that takes a closer look at honor, revenge and suicide, Hamlet turns into a canvas that gave Edward DeVere the opportunity to express himself without exposing himself at the same time. Assuming that the role of Hamlet was based on DeVere, the query that plagues my mind is: DeVere or not DeVere? That is the question, indeed. As discussed in class, there are similarities between the character of Hamlet and DeVere, including: loss of a father at an early age, a quick re-marriage by the mother, being interested in the theatre and the pirate attack, just to name a few. Something we did not discuss in class was the ending of the play and how that might correspond with DeVere's current anonymity when it comes to the works of Shakespeare. During the final scene in Hamlet, Prince Hamlet finds himself mortally wounded just after he has finally gotten his revenge on his uncle. As he dies, Hamlet asks Horatio to tell his story (V.ii.338-339). Horatio knows everything that has transpired since the beginning of the play, so he would be able to tell the Danes about how Hamlet figured out the horrible treason that had occurred with the foul death of his father, etc. In essence, Horatio's story would give Hamlet honor and seal his memory in the hearts of the Danish people (and possibly others) forever for his noble works. The rest of Hamlet is so autobiographical that it does not make sense for the final scene to not represent something in DeVere's life. I think that DeVere wrote this scene as a will or instructions on how he wanted his dramatic works to be handled when he died. Once dead, he would have no need to fear persecution by the Tudor family, so his name could finally be associated with all of the plays and sonnets that he had been writing secretly. Essentially, his talent would be praised, and his legend would live on in the hearts of all who saw his dramatic works.

Police Accountability Essay

Police Officer Accountability is policy practice biggest thing. An officer is accountable for the community, the department, and themselves (Peak, 2012). An officer action is an accountability which can bring on more strain and concern that might get in the way of the officer’s split decision making when an officer is involved in a pursuit, the officer must keep in mind the public safety, as well as the safety of the suspect, and when he arrest the suspect he should make sure that he abide by the law and to make sure that the reason for the pursuit is but in the report for court. The ramifications would be making sure his accountability is successful or take responsibility if something tragic happens. An example of a specific situation where officer accountability for his actions that would affect his decision making in enforcing the law would be: An officer is sitting in a store parking lot and he sees a car speeding through the parking lot heading in the direction of people who are going in and out of the store. The car runs over one of the people and keeps going. The officer takes off behind the car and pulls it over. The officer gets of his car and walk to the driver side of the car, as he approach the car and starts to ask the driver for his license and registration he notice that it is one of his fellow officer and he is extremely intoxicated. The off duty officer asks him to let him go with a warning not realizing that the reason he was pulled over was because he just ran someone over. If the officer who is on duty lets him go he would be held accountable because he would taking a risk by letting him continue to drive and risk him harming someone else or himself. The officer arrests his fellow officer so he can be held accountable for his unlawful actions.

Economical and Environmental Cost-Benefit Analysis on Hybrid Cars Essay

A hybrid car is a car propelled by the application of two or more power sources. First attempts to introduce hybrid cars goes back to mid 1660, way before the discovery and introduction of the fuel powered conventional cars but were never commercially manufactured until 21st century when Japanese car manufacturer, Toyota produced the Toyota prius exclusively for its domestic market. In fact, it is estimated that the first attempt to produce a hybrid car was in 1665. The delay in the production of this class of vehicles was because of two main reasons; first, the limited range in the distance the vehicles could cover and secondly the difficulty and costly process of recharging their batteries. Furthermore, it is a basic science concept that the more complex a machine is the more it is prone to failure and thus the idea of commercial production of hybrid vehicles has been a slow process over the centuries. World’s population explosion, demand for fresh air and green cities, dwindling petroleum deposits, over dependency in overseas oil, economic recession and global warming are just some of the environmental and economic factors that have forced world’s leading car manufacturers to provide to the market car models that are not only environmentally friendly but also cost effective. A cost-benefit analysis on this topic will attempt to bring out the cost of getting a hybrid car into the road in comparison to the benefits that the world stands to reap as a result of this venture. This research seeks to bring to the surface three major aspects that are associated with the introduction of hybrid cars into the transportation world. These three issues are: (i) The cost of producing a hybrid car: The successful landing of a hybrid car is in focus under this area. It is not easy to get into the road a car that makes use of a combination of two or more sources of energy. The research involved is estimated to run to millions of dollars thus sky-rocketing the price of a hybrid car. (ii) Environmental factors: Environmental factors simply refer to the concerns that a particular type of car produces substances that injure our surroundings thus making life on earth more dangerous and therefore more complex. These substances include green house gases as well as toxic metal compounds such as the ones that contain lead in their structure. (iii) Economic cost benefit factors: Economic factors have much to do with the living standards of people as far as the generation and investment of money is concerned. The economic make up of the world has gotten pegged heavily on oil and there are concerns from every right thinking citizen of the world that this is a self consuming trend that is likely to create serious economic problems if the oil industry hits a serious problem. This has already been witnessed before whereby a slight rise in oil prices has sent shockwaves in economies in both the developed and the developing world. Literature Review The former Vice President of the United States who later won the Democratic Party nomination and lost the presidency in a controversial manner to George W Bush, Mr. Al Gore, has had the world rethinking its actions as far as the degeneration of the environment is concerned. An inconvenient Truth, a film he worked on captures the problems that are already being experienced in various parts of the world as a result of global warming. This, he says is being fuelled by the use of environmentally unfriendly cars that use oil or gasoline (Gore, 2006, para1-3). It is not surprising that he went a head to win a Nobel Prize for this peace of work. Electric and hybrid cars have always received much appreciation due to the perceived ability to tackle this burning issue of climate change. Their ability to cut the emission of these toxic substances into the atmosphere that lead to negative climatic shift is the major reason for this (Anderson and Anderson, 2004, pp 6-10). In recognition of this serious problem, vital steps have been made in the research that is involved in the development and production of cars that make use of a combination of two or three sources of locomotive energy. Chief among these is the research into electric cars that promise to reduce the overreliance on oil (Westbrook, 2001, pp 34-39). The pioneer nation in the world in the research and possible mass production of hybrid cars is Japan. But the appetite with which the United States of America has picked up the issue points to the significance of this type of car. The driving force is the reduction in pollution, the saving that comes in terms of finances and most importantly national security that is put at risk with too much dependency on foreign oil. The argument is often projected in terms of supplying their dollars to nations that fund terror groups such as al Qaeda (Boschert, 2006 pp 2-7). It is common knowledge that mass production of hybrid cars will not only provide a partial solution to world environmental problems but also be a practical measure to save countries from losses running to millions of dollars due to escalating prices of world crude oil. The cost of producing a hybrid car The production of hybrid cars is not a cheap or a simple venture. Confessions by companies that have dipped their fingers into this hot pot have clearly shown that more than just simple technology is in play in the production of this type of cars. Research that has been on-going for a long time now is very complicated and has consumed millions of dollars. At the end of the day, despite the hyped advantages of shifting from purely oil consuming cars to hybrid cars, the cost that must be borne has to be high (Westbrook,2001,pp 56-61). It is the overall ability of the hybrid car to assist man in solving most of his economic and environmental problems that make the whole exercise worthwhile. Environmental factors While scientists agree that there can never be perfect environmentally friendly hybrid cars and that this depends solely on the design and model of hybrid power system. It is worthy appreciating that the use of this class of vehicles will automatically lead to the reduction of global warming by approximately 0. 3 to 0. 5 percent and that more advanced models and designs in the coming years due to technological advances would reduce this figure even further. The problems of the quality of urban air, reduction of noise due to application of electric motor in fuel power conventional cars, and elimination of smog forming pollutants could be solved in a century if research on mass production of hybrid cars is given a priority. The main source of air pollutants in cities and major towns is transportation. Fuel powered conventional motor vehicles produce much higher levels of carbon dioxide (Co2) carbon monoxide (Co), nitrogen oxides (Nox) and hydrocarbons (Hc) and this from the primary source of these dangerous pollutants. This is mainly because fuel powered conventional cars (FPCC) make short trips that do not give time for electric motor warm ups and cold starts. It is noted that hybrid cars reduced the levels of the carbon monoxide, hydrocarbons and carbon dioxide by 97% in comparison to other sources of these pollutants. Carbon monoxide (C0), when inhaled for long periods interferes with the proper functioning of the brain in that it impairs the flow of oxygen (O2) into the brain. Once the brain stops working in the expected way, the person involved turns into a vegetable. Carbon dioxide and water vapor form the principal components of green house gases that bring about the green house effect. Green house effect is a scenario in which too much heat is trapped within the atmosphere due to the presence of such toxic gases as carbon monoxide and this resultant effect is a highly raised earth temperature. Infact carbon dioxide (C02) is considered one of the major atmospheric pollutants, and is solely responsible for approximately 57% global warming. Negative effects of global warming include the rapidly declining numbers of polar bears and melting of ice in the tropics. It is therefore an open knowledge that releasing carbon dioxide (C02) into the atmosphere is detrimental to the lives of living organisms and the equilibrium of the ecosystem. Sulphur and chlorofluorocarbons (CFCs) are very dangerous air pollutants produced by combustion of sulphur containing fuels. Over the years, scientists have devised means of producing sulphur and lead free fuels but achieving an excellent degree is still a distant mirage. Deposition of these compounds in the air is harmful to plants, man and infrastructure. Exposure to high concentration of sulphur dioxide irritates respiratory tracts making breathing difficult and can easily cause lung problems. Sulfur Oxide contributes to respiratory illness. Patients suffering from heart diseases risk aggravating their conditions if exposed to even mild concentration of sulfur oxides. These components also form secondary pollutants when transported and combined with other elements forming sulphates, nitrate salts, nitrogen dioxides and even nitric acid vapor. This is what is commonly known as acid rain that corrodes buildings, burns vegetations, burns the human skin and destroys infrastructure. Chlorofluorocarbons also form component of green house gases that bring about the effect of global warming. When exposed to gamma rays, these compounds break down to release chlorine atoms. The presence of chlorine atoms in the atmosphere catalyses splitting of Ozone (O3) into oxygen gas (O2), however the negative effects of their presence overweigh their importance. Photochemical air pollution, usually known as smog and is commonly sported in the tropics and subtropics is also caused by incomplete combustion of gasoline emitted by fuel powered conventional vehicles. This process leads to the production of Ozone gas that is responsible for irritation in the eyes, extensive damage to plants and crops and lung complications. The release of carbon dioxide (C02), chlorofluorocarbons (CFC), sulphur oxides, nitrogen oxides (N0x) and other pollutants into the atmosphere contributes to the destruction of plants on the earth’s surface. Photosynthesis, the process through which trees produce oxygen from carbon dioxide is so vital to human life in fact it is said that life cannot exist without trees. Destruction of trees by releasing these pollutants into the air is equal to destruction of both human life and plant life. While particulate matters are the main contributors to lung problems and most cancer cases, hydrocarbons are also a cause of lung problems and other tissue problems. Long exposure to high concentrations of hydrocarbons eventually leads to total organ failures. Furthermore it is a major contributor to birth defects and other complicated illnesses like cancer. With the commercial manufacture and introduction of hybrid cars, extensive damage to the environment is definitely reduced, quality of life enhanced and urban areas become clean to inhabit, the dream of world environmental rights groups. Economic factors Crude oil is the raw material that propels almost all components of world’s economy in many ways. In fact the world is so dependent on crude oil that if its supply would be cut abruptly, major world economies like United States of America, Russia and China would immediately come to a standstill. United States depends on crude oil alone for 40% of its energy supply, triple than other sources. Overdependence on crude oil is not sound enough. First, crude oil is a non-renewable source of energy and analysts predict it will be largely exhausted within half a century. This rings an alarm bell that if measures are not put in place and countries go green by using hybrid cars, then the future is bleak and the word is in danger. Transportation sector depends entirely on oil for energy supply. Trucks, planes, ships cars and buses are propelled by motor engines that use oil. Introducing hybrid cars would reverse this trend, make the world safer from fluctuating oil prices and reduce dependence on this energy source (Paterson, 2007 para. 3-5). Reliance on crude oil for fuel supply is a major contributor to ethnic and tribal wars in Africa. This demonstrates the levels at which scramble for this commodity has reached. In fact notably China is so hungry for crude oil that it is ready to ignore the sufferings of millions of peoples around the world and specifically Sudan, so as to get its industry moving. It therefore points to the fact that lasting peace and safety will be found and armed conflicts reduced drastically when less fuel consuming cars are produced and thirst for oil curtailed. Hybrid cars are pocket friendly as they consume less gasoline in comparison to fuel powered conventional cars. Even though they are slightly expensive to purchase, the reward is achieved in long term due to lower fuel consumption. Further, governments and notably the United States of America give tax incentives to buyers of hybrid cars in to a move aimed at reducing the average prices of these vehicles and thus encouraging more people to purchase them. Dwindling petroleum deposits in a major concern to the world. It is widely acknowledged that only a total of one trillion barrels of recoverable crude oil reserves is available for exploration worldwide with only two percent (2%) of this value in the United States of America. Most of these oil deposits are found in the eastern hemisphere that is made up of countries that are well known for political instability. It is therefore very wise for countries that fall in the Western hemisphere and more so, the United States to adapt the mass production and commercial use of hybrid vehicles. This will not only cushion them from ever fluctuating oil prices but will also prevent the imminent collapse of most sectors of the economies of these countries. Conclusion From the foregoing, it is evident that the world stands to gain immensely from the introduction into the world of transportation hybrid cars. It is true that the cost of producing a hybrid car is not one that sends one smiling all the way to the bank. In fact it is prohibitively high and the faint hearted who will not pay attention to the long term benefits of this hybrid car model will not dare. But the benefits or gains both in terms of saving a planet in peril and a global economy in a shambles are so enticing and crucial that it is actually the way to go. The environmental problems that come as a result of oil utilization in transport and other areas of life will be dealt with once and for all. For instance, the release of dangerous gases such as carbon dioxide and carbon monoxide into the atmosphere that is responsible for global warming and numerous respiratory problems as well as problems in farming thorough such phenomena as acid rain will be solved. The economic woes that emanate from over dependence on oil will also be contained. The availing of financial resources to rogue nations such as Iran that fund terrorist groups, the shaking of the global economy due to shifts in oil prices as well as the escalation of conflicts in most third world countries in the east and Africa as a result of scrambling over oil resources will be eliminated. References: Anderson C. D & Anderson J (2004); Electric and Hybrid Cars: A History. ISBN-10: 0786418729, ISBN -13: 978-0786418725, McFarland & Company. pp 6-10 Boschert, S. , (2006); Plug-Ins: The cars that will recharge America. pp 2-7 ISBN-10: 0865715718, ISBN-13: 978-0865715714, New Society Publishers. Gore, A. (2006): An Inconvenient Truth. Retrieved on 24th March 2009 from: http://www. climatecrisis. net/aboutthefilm/. Para 1-3. Paterson, B. N. , (2007). Economic benefits of hybrid cars. Retrieved on 23rd March 2009 from: http://www. helium. com/items/1026111-economic-benefits-of-hybrid-cars, para 3-5. Westbrook M. H, (2001): The Electric Car: Development and Future of Battery, Hybrid and Fuel-Cell Cars. ISBN-10: 0852960131, ISBN-13: 978-0852960134. The Institution of Engineering and Technology. pp 56-61.

Free Essays on History Of The PC

The History of The Personal Computer The personal computer, better known as the PC, is a tool that has revolutionalized the way business’ and individuals interact, communicate, and live their everyday lives. It allows people to write and hold instant conversations over hundreds of miles of separation. The PC has allowed people to get data, order products, and download files from the comfort of one’s own home with the ease of a single mouse click. However, computers have not always been this way. The PC traces it’s origins back to the mainframes and minicomputers in the 1950’s and 1960’s, but it wasn’t until the 1970’s that there were breakthrough developments in the development of the PC. It was on December 23, 1947, that John Bardee at Bell Laboratories developed the transistor. However, it wasn’t released to the United States market until 1956 and this is the point the revolution took place because it allowed the computer manufacturers to make smaller computers due to the smaller size of the transistor over the size of the bulky vacuum tubes that were previously used. This triggered the release of many new computer systems including the IBM 701, which was the first computer that was small enough to be shipped in several pieces and assembled at the destination. Then in 1964, IBM spent $1 billion dollars in research to release the System/360 series of computers, which was the first computer system to be compatible with each other. These new developments in the computer world left businesses and students buzzing with excitement. Those that were able to get their hands on one and use it were viewed as very privileged. Every time a new computer accomplishment was made, it left people in awe. Still, up till 1972, computers were only available to schools, businesses, and wealthy people who could afford them. It was in 1972 when Intel came out with the 8008 chip and it was able to process 8-bits of dat... Free Essays on History Of The PC Free Essays on History Of The PC The History of The Personal Computer The personal computer, better known as the PC, is a tool that has revolutionalized the way business’ and individuals interact, communicate, and live their everyday lives. It allows people to write and hold instant conversations over hundreds of miles of separation. The PC has allowed people to get data, order products, and download files from the comfort of one’s own home with the ease of a single mouse click. However, computers have not always been this way. The PC traces it’s origins back to the mainframes and minicomputers in the 1950’s and 1960’s, but it wasn’t until the 1970’s that there were breakthrough developments in the development of the PC. It was on December 23, 1947, that John Bardee at Bell Laboratories developed the transistor. However, it wasn’t released to the United States market until 1956 and this is the point the revolution took place because it allowed the computer manufacturers to make smaller computers due to the smaller size of the transistor over the size of the bulky vacuum tubes that were previously used. This triggered the release of many new computer systems including the IBM 701, which was the first computer that was small enough to be shipped in several pieces and assembled at the destination. Then in 1964, IBM spent $1 billion dollars in research to release the System/360 series of computers, which was the first computer system to be compatible with each other. These new developments in the computer world left businesses and students buzzing with excitement. Those that were able to get their hands on one and use it were viewed as very privileged. Every time a new computer accomplishment was made, it left people in awe. Still, up till 1972, computers were only available to schools, businesses, and wealthy people who could afford them. It was in 1972 when Intel came out with the 8008 chip and it was able to process 8-bits of dat...

History of Coca-Cola Essay Example

History of Coca History of Coca-Cola Essay History of Coca-Cola Essay Id like to talk today about the history of Coca-Cola. Ive divided my talk into three main parts: The period before WW the inter-war period and the period from WW2 to our days. Lets start with the period From 1886 to 1914. Pharmacist Dr. John Slyth Pemberton invented thefirst recipe ofCoca-Cola in the spring of 1986 in Atlanta. Dr. Pemberton used African Kola Nut extract and coca leaves, which are both strong stimulants, in his potion. The product was sold as syrup that would help people feel better. One tea spoon had to be diluted in one glass of water. In 1887, Pemberton found out that carbonated water was tastier than plain water. The coca-cola beverage as we know it today was born. Coca-Cola was named by Frank Robinson, one of Pembertons close friends, from the names of its two basic ingredients. He also penned the famous Coca-Cola logo in unique script. During the summer of 1887, Pemberton was forced to sell his license because he was in poor health and covered in debt. Asa Candler, pharmacist and friend of Pemberton, was interested in the product after having used it successfully for his headaches. Candler became the leader of the company in the summer of 1888. In 1891, Candler created ;the Coca-Cola Company;. Five years later, Candler could already announce that Coca-Cola was drunk in all states and territories of the USA. From 1901 to 1910, sales progressed from 4000l. a day to 40 000 l a day in 1910. From the start coca-cola invested a lot in advertising. Because of its success, coca-cola became the target of plenty of imitators. Lawyers of the coca-cola company prosecuted brands as Koke company, Karo-Cola, Curo-Cola, Sola-Cola, Koka-nola and Taka-Cola. From the beginning, the sales of coca-cola increased continuously. But in 1917 production of the syrup had to be decreased because of the restrictions on raw materials as sugar due to the entry of the USA in the wa

Italian Future Indicative Tense

Italian Future Indicative Tense The future shows a simple fact that has yet to occur or come to fruition: Arriverà ² domani.Terminerà ² il lavoro entro una settimana. The future can take value imperative: Farete esattamente come vi ho detto.Imparerai questa poesia a memoria. BRANDIRE GUSTARE RIDURRE VINIFICARE io brandir guster ridurr vinificer tu brandirai gusterai ridurrai vinificerai lui, lei, Lei brandir guster ridurr vinificer noi brandiremo gusteremo ridurremo vinificeremo voi brandirete gusterete ridurrete vinificerete loro, Loro brandiranno gusteranno ridurranno vinificeranno CONJUGATING ITALIAN VERBS IN THE PRETERITE PERFECT INDICATIVE TENSE Word formation in Italian is the linguistic process (think vocabulary building) in which terms can be transformed from base words to suffissati (suffixed words)- orologio  Ã‚ »Ã‚  orologiaio, prefissati (prefixed words)- campionato  Ã‚ »Ã‚  precampionato, and composti (compounds)- fermare carte  Ã‚ »Ã‚  fermacarte. The formation of words enriches the Italian language from within. In fact, it produces new vocabulary- as in orologiaio (watchmaker), precampionato (preseason), fermacarte (paperweight)- starting with vocabulary that already exists- in this case, orologio (watch), campionato (season), fermare (to hold, detain, secure), and carte (paper). The suffisso (suffix) is the particle that appears at the end of the suffixed, for example -aio in orologiaio. The prefisso (prefix) is instead the particle that appears at the beginning of the prefixed, for example pre- in precampionato. Together, the suffixes and prefixes are known as affixes; the suffix -aio in orologiaio and the prefix pre- in precampionato are, therefore, two affixes. Composti (compounds) are formed by the merger into a single word of at least two words; this is the case of fermare and carte in the compound word fermacarte. All Italian speakers can construct, starting from certain basi (bases) and making the necessary modifications, a whole series of new words (the technical term is defined as neoformazione- a compound or derivative recently introduced to the language). So, for example, orologiaio, precampionato, and fermacarte are new words derived from orologio, campionato, fermare, and carte. To go from the base to the new term there are certain rules of transformation. Word Formation Is Not Simple AdditionThe formation of words does not consist in the mere addition of elements: base suffix suffixed; prefix base prefixed; word word compound word. This, in fact, it is only the appearance of the phenomenon. The formation of words instead assumes that the speaker has is fully aware of the meaning of the relationship linking the new word to its base. For example, everyone (or at least native Italian speakers) will recognize in words such as scaffalature and librone a connection to scaffale and libro, but nobody will think that struttura and mattone are linked to strutto and matto. Only in the first case can an equivalence be formulated: insieme di scaffali has the same meaning as scaffalatura (shelf unit)grosso libro has the same meaning as librone (big book, tome) While in the second case: insieme di strutto (lard as a whole) has a different meaning than struttura (structure)grosso matto (big madman) has a different meaning than mattone (brick) As shown, the formation of words in Italian cannot be explained only by taking into consideration the formal relationship that links a base with an affix (-ura, -one, and others); it is also necessary to consider the relationship between the meanings. The formation of words can be divided into three categories: suffissazione (suffixation), prefissazione (prefixation), and composizione (composition).

Race and Human Services Essay Example | Topics and Well Written Essays - 2000 words

Race and Human Services - Essay Example The American society is a clear example of inequality along lines of race that constitute the society. This paper examines how race affected the distribution and access to resources. The study uses the critical race theory to explain reasons for poor social support for these communities and the effect it has had on the communities. Pertinent factors on race The history of race clearly reveals that people became full society members if they grew up within the society or adopted the society’s cultural norms. While for most societies, membership to society was based on tribal or familial affiliation, physical characteristics were also considered. Skin color particularly has greatly influenced membership to a society. These physical characteristics are in turn linked to moral, intellectual and psychological qualities. Societies will always assign to their own the highest qualities while assigning lower qualities to the outsiders. Societies in American are based on races, which has led to racism. Racism is the practice of denying a group of people their rights to resources and representation because of racial differences. Institutionalized racism involves use of social institutions such as education, social services, housing, judicial and the government, which touch all aspects of society (Loury, 2005). America comprises of various ethnic communities, a fact that has greatly led to discrimination of such communities as the Native Americans, African American and the Latina. The Native Americans occupied America before the colonial era. The Europeans in an effort to access the American territory for land and its natural resources resulted to massacres, wars and forced displacement. The natives were also subjected to food rights restrictions, impositions of treaties; their land was snatched from them and many more hardships. The European immigrants justified this treatment to stereotypes such as the natives were â€Å"merciless Indian savages† and the man ifest destiny where the conquerors would receive divine blessing for the new land ownership in the US (Hochschild & Weaver, 2007). The displaced natives were relegated to reservations constituting 4 percent of the US territory. The natives were forced to attend the residential school system that aimed to civilize them by teaching them the settler economy, values and culture. To date, Native Americans are the most affected by racism and remain economically disadvantaged compared to other groups. The Native American race suffers high levels of suicide and alcoholism due to lack of future prospects (Hochschild & Weaver, 2007). The African American is the second groups affected by racism. The European settlers needed labor force to work in their vast plantations. Court ruling in the 18 century allowed slavery towards black Africans. Legal discrimination and institutionalized racism were hardened during the 19th century. Though slavery was abolished through the fourteenth amendment and A frican Americans were able to technically vote, many were subjected to acts of terror, poll taxes and discriminatory laws that kept the African Americans disenfranchised especially in the south (Wilson, 2011). Racism during this period was worse than any other period before or after. European supremacy,

Tha Face Deal Book Research Paper Example | Topics and Well Written Essays - 1250 words

Tha Face Deal Book - Research Paper Example Most of the financing Facebook Inc. was obtained as ventures. The ventures were given with an exchange of obtaining the rights of ownership of the company. Accel Partners invested $12.7 million at a valuation of about $100 million. They also invested in another transaction worth $27.5 million with the Greylock Partners. This investment earned them a valuation of $525 million. The Accel Partners and the Greylock Partners invested in this young company due to its promising market service. The company had grown so that it could serve millions of students around the campuses. The investment opportunity was to allow for its growth in the market. The Microsoft Corporation and the Digital Sky Technology raised their contribution in the form of equities.This financing was aimed at the elevation of the Facebook Inc., which was a young promising company. (Ferrera, 2012). The cumulative investment has seen the listing of Facebook as the most used social network over the years. This led to the e ventual filing for an IPO on February 2012 and started selling stock in May 2012. This tremendous growth can be credited to the investment that has overseen the financial credibility of the company. The investors had an aim of obtaining a valuation in the company through the acquisition of ownership rights of the company. The Microsoft Corporation invested to the company in order to obtain the 1.6% stock and to be allowed to advertise on the site. The Accel Partners requested a post of being a board member of the company thereof being central in running the company (Baloun, 2007). Therefore, the financing of the Facebook Company was a beneficial venture for both the company and the investors. Uses of the finances The Facebook Inc. started as a small company with very few employees. At that time, they only had 10 Employees.The Company had an aim of recruiting new employees to aid in the servicing of its clients. The event that was carried out and it drew about 700 people. The company was also experiencing losses that were spurring the possibility of being sold to Yahoo or other larger media groups. To fight this pressure, there was a need to allow investors to venture into the company financially. This acted as a source of capital for investing in the expansion plans beyond the old environment. The company added high school networks, international school networks and photos to the social networking pages (Sutherland, 2012). In order to obtain a valuation in the economy, the Microsoft Corporation invested $240 million for the 1.6% stake in the company. This enabled Facebook to spread and improve on their applications on the website. The company could get recognition in the corporate market with a high financial basis. Another project was the acquisition of the international headquarters in Dublin (Carver, 2012). The acquisition of other companies such as Connecticut was also another project that required a great deal of funding. This was after the settlement of the suit against Facebook. The funding from Microsoft, Accel, Greylock, and Digital Sky Technologies was instrumental towards the growth of this company to the point of obtaining an IPO. Current valuation The company has provided varied valuation standards in the current period. The increase in the target price of the stock before valuation is a major boost for this company. The company considers their revenue growth, the operating

Amazon Acquisition and Equity Investment Research Paper

Amazon Acquisition and Equity Investment - Research Paper Example 2- SET OF COMPANIES ACQUIRED BY AMAZON IN 2011 In 2011, set of companies were acquired with price of US $771 million by Amazon (Amazon, 2011). None of the companies are defined specifically but all are aimed at market development for Amazon for increasing customer base as well as sales channel increase in portfolio. Two of the companies included Marshall Cavendish US Children’s Books Titles and LoveFilm International Limited Etc (Amazon, 2013). The change in sales and net income from acquisition was as follows: Set Of Companies in 2011 2011 2010 Sales 48,077 34,204 Change In Sales 40.56% Â   Net income 631 1152 Change In NI -45.23% (Amazon, 2011) The above acquisition also impacted sales positively. But rise in sales is increasingly offset by the downside movement of net income. With acquisition of companies Amazon.com has burdened its net income with additional five percent than magnitude of sales rise. Hence, the acquisition cannot be referred as successful strategy. 3- AQC UISITION OF ZAPPOS.COM, INC. The acquisition was conducted on November 2009 with purchase price of US $.1,134 million (Amazon, 2009). The acquisition was aimed at market penetration and expanding Amazon’s presence in categories shoes and apparel. The impact of Zappos.com Inc on the sales and net income has been highly successful as reflected from the given below change in sales and in net income: ZAPPOS.COM, INC IN 2009 2009 2008 Sales 24,509 19,166 Change In Sales 27.88% Â   Net income 902 645 Change In NI 39.84% (Amazon, 2009) Hence, Zappos.com. Inc acquisition can be regarded as successful from results shown above as not only the sales have increased but the profits have increased as well. ANSWER # 2 The assessment of each of the acquisitions mentioned above with respect to its timing of investment is conducted as follows as discussed in annual reports of the company: FOR Kiva IN 2012 Investment Value $678 million SALES Actual Pro Forma Change 2

Business analysis of a restaurant Essay Example | Topics and Well Written Essays - 750 words

Business analysis of a restaurant - Essay Example The foods offered at the Straits Cafe are described in the elegant menus that are split according to meals, which include breakfast, dinner, brunch and dessert. The variety of foods served at the cafe ensure that the needs of all customers are met leading to customer satisfaction and loyalty, which transforms into high profits for the company (Yu 12). Location of the Restaurant The Straits Cafe is located in the heart of downtown. The mall in which the hotel operates is known as the Westfield San Francisco Centre. The Westfield San Francisco Centre is an urban shopping mall located in San Francisco, California (Roy 19). The mall is run by Westfielf Group and jointly owned by Forest City Enterprises. The businesses that surround the mall include Century Theatres, Bristol Farms grocery and San Francisco State Univerity. The Westfield San Francisco Centre operates between 10:00 am to 8:30 p.m. from Monday to Saturday, but closes at 7:00 pm on Sunday; however, the operation time for rest aurants and bars may differ (Roy 22). The Westfield San Francisco Centre attracts and retains major customers who find their way into the restaurant. The mall attracts more than twenty million tourists from across the world during all the four seasons (Roy 10). The mall offers a range of accommodations that meet all travellers’ needs. ... The Straits Cafe management team has witnessed additional visitors seeking accommodation in the restaurant. This has forced the hotel managers to hire an extra hall on the third floor of the mall that presently accommodates thirty-five customers. Competitors Stiff competition is one of the greatest challenges facing the Straits Cafe. There are several restaurants and cafes offering similar services in the Westfield San Francisco Centre (Roy 6). These include Hotel Palomar, Hotel Diva, Union Square Hotel, the Four Seasons San Francisco and Chinatown Hotel. Chinatown Hotel is just next to the Strait Cafe, and it offers almost similar products to Straits Cafe. Chinatown Hotel, however, has limited capacity; this factor gives the Straits Cafe a competitive advantage over Chinatown Hotel. This competition has led to the management introducing semi-private rooms and private rooms that attract customers who intend to hold private parties (Yu 16). Scale and Decoration The Straits Cafe occupi es a floor space of three hundred square meters. The kitchen and the bar alone occupy sixty and twenty square meters respectively. The interior of the restaurant has enough space and capacity to accommodate one hundred and twenty guests. The floor space is large enough to place thirty tables and leave passages between the sitting tables. The sitting arrangement is strategically planned by the management to avoid long waiting lists when customers place orders. The walls of the restaurant are beautifully decorated. The restaurant is equipped with high tech facilities that provide comfortable services to the customers. Adequate kitchen space enables the customers to pass through the cooking place and inspect the sanitation of the kitchen (Yu 22). This

Marketing Plan Research Paper Example | Topics and Well Written Essays - 2000 words - 2

Marketing Plan - Research Paper Example For instance, the provision of primary care to them needs to address their varied needs. N-generation has never experienced the pre-internet world and is already technology focused. This means that the primary care services need to incorporate the technological aspect of it for it to thrive in this market. On the other hand, Baby Boomers and generation X embraces both the physical and technological aspects of the services, although they are not technologically inclined. However, they prefer high quality services since they have preference for value for their money. Therefore, the paper will discuss the marketing plan for a primary care business to be situated in the suburb of Washington DC that mainly consists of Baby Boomers, generation X and N-generation. The research document will further highlight a plan of office requirements for these generations. The community is comprised of Baby Boomers, generation X and N-generation white-collar workers, mostly employed by high-tech and consulting firms, thus the need to come up with an all inclusive office plan that takes care the interests of these generations. According to ONeill (2009), we are living in an era where office design is completely dominated by the Baby Boomer’s worldview. However, currently almost 50 % of the workforce comprises of generation Y. Since generation X is very active, they a need working place that is very engaging. For Baby Boomers and N-white collar professionals, their workstations need to be installed with high-tech equipment since they have really embraced technology. Many departments would be communicating with each other. Therefore, the office needs to be built in way that it offers facility to work in multiple states. This is something that has been embraced by Baby Boomers and N-white collar professionals. Most of them need offices that offer a coustic privacy to their activities. For both generations, having quality-meeting rooms is considered very crucial. Hey also need

The Transferability of HR Management Essay Example | Topics and Well Written Essays - 4000 words

The Transferability of HR Management - Essay Example The management of facilities and HR practices while being the core components to whether corporations are successful, they themselves are reliant on cultural factors. This creates a very complex arena in which global corporations do business, and unsaid laws to which they must adhere. It is a common belief among corporate researchers that cultural, institutional and societal conditions act as barriers or mediate corporate transfer. Along with this belief is the understanding that cultural and institutional conditions can only be understood within the context of their particular regions. In module 4, the author assesses the transferability of educational institutions and policies, as well as the reality of transferring policies to global corporations. This was found to be a very risky venture as some policy of practice were not easily transferable across cultural barriers. In the first section the author discusses one area of work on transfer that has originated within an educational arena. Turbin looks at the research of educationalists who have studied the transfer of educational practices, and sometimes systems, between the developed and less developed countries. (module 4) The focus on education and the transferability of HR management within the educational corporate structure is widely overlooked globally, but in the U.K. UCL is a leader in this position. It is one of the more profitable institutes in the U.K., as well as being one of the most prestigious. Its activity based management relies on the continuous improvement of the curriculum to enhance value of the degree it offers in the eye of the consumer, as well as in the eyes of the potential employers of that consumer. The newly ventured research, more often than not, is funded by grants, and is expected to be of substantial benefit to the community. It also makes the institute more creditable. Any new facility being built (i.e. a cafeteria, Library, stadium), any funding towards and extra curricular program (i.e. athletics, academic clubs, sociological studies,), or anything else that might draw positive attention to the University all classify as add-vale activities. Even once the Universitie s benchmarks have been complete, UCL is recognizable for its continuous growth, largely due to the merger. As of the financial portfolio for 2005, UCL was able to increase its value of endowment asset investments by 3 million. This was an increase to 78 million from the 75 million from the previous year. It borrowed 25 million from the Royal Bank of Scotland. The gross income of the University increased last year by 6.8%, earning them 489.8 million. There Academic fee income increased by 9.8 %, earning the school another 76.5 million. On top of this the University was awarded a 1.3% increase in Research Grants and Contract income which was an estimated 161.9 million. The University consists of 28,000 staff and students. This includes more than 3,800 academic research staff spread over 72 departments. They have the highest number of professors of any University in the country consisting of 600. They also have the highest number of female professors (UCL, 2005.) This focus on educatio nal practices put global transferability of HR and Facility management in a simpler perspective. It also makes a very

Marketing Plan Research Paper Example | Topics and Well Written Essays - 2000 words - 2

Marketing Plan - Research Paper Example For instance, the provision of primary care to them needs to address their varied needs. N-generation has never experienced the pre-internet world and is already technology focused. This means that the primary care services need to incorporate the technological aspect of it for it to thrive in this market. On the other hand, Baby Boomers and generation X embraces both the physical and technological aspects of the services, although they are not technologically inclined. However, they prefer high quality services since they have preference for value for their money. Therefore, the paper will discuss the marketing plan for a primary care business to be situated in the suburb of Washington DC that mainly consists of Baby Boomers, generation X and N-generation. The research document will further highlight a plan of office requirements for these generations. The community is comprised of Baby Boomers, generation X and N-generation white-collar workers, mostly employed by high-tech and consulting firms, thus the need to come up with an all inclusive office plan that takes care the interests of these generations. According to ONeill (2009), we are living in an era where office design is completely dominated by the Baby Boomer’s worldview. However, currently almost 50 % of the workforce comprises of generation Y. Since generation X is very active, they a need working place that is very engaging. For Baby Boomers and N-white collar professionals, their workstations need to be installed with high-tech equipment since they have really embraced technology. Many departments would be communicating with each other. Therefore, the office needs to be built in way that it offers facility to work in multiple states. This is something that has been embraced by Baby Boomers and N-white collar professionals. Most of them need offices that offer a coustic privacy to their activities. For both generations, having quality-meeting rooms is considered very crucial. Hey also need

Concepts of Organisational Structure Essay Example | Topics and Well Written Essays - 2000 words - 22

Concepts of Organisational Structure - Essay Example Change management is also known as alteration. This case study shall explain the change management, leadership style and organizational structure of the pharmaceutical company Pfizer. It is one of the successful pharmaceutical companies of the world operating its business approximately 180 countries of the world. The firm was founded in 1849. Presently it has around 110600 employees. The strong vision of the company helps it to operate its business worldwide. This American multinational company produces medicine for animals and human. The leaders of this company are very effective and they run the organization in an efficient way. They played an important role in the development of the company. The firm hires good and quality staffs that innovate and develop strategies to achieve the goals of the Pfizer. The company experienced many acquisitions, divestitures and mergers. The change management of this firm has improved the organizational structure of the company. Pfizer’s orga nizational management system experienced many changes which helped the company handle many situations which can even lead to break up of the company. The organizational goal of the company is to deliver its commitments to its customers by maintaining transparency in its activities. Efficient operation of the business is based on its organizational structure. The routine of the company is set by its structure. It helps to determine how the firm will make and implement decisions for performing its various tasks and activities. There are many types of organizational structure like functional, flat, geographical, product, matrix and divisional organizational structures. A divisional organizational structure is mainly implemented in big companies which operates a business in a large geographical area. This structure is expensive because of its scope and size. In a functional structure, each part of the company is grouped according to the work. There are many departments where employees work as per there specific functions. Matrix is a high breed organizational structure. It is a mixture of functional and divisional organizational structure.

The Great Smart Phone War; Apple vs. Samsung Essay Example for Free

The Great Smart Phone War; Apple vs. Samsung Essay Apple Inc. is an international software company that globally produces and supplies digitally enabled gadgets. History of the company. The company was started by the late Steve Jobs and Steve Wozniak on April 1, 1976. Jobs and Wozniak schooled together in high school and had been friends. They both dropped out of school and got employed by different companies. Steve Jobs got to work with Atari while Wozniak worked with Hewlett-Packard. Wozniak made the first Apple I design in 1976 but it did not capture the hearts of many. In 1977, they presented the new Apple II phone at a local computer trade show and it captured the attention of many. This led to an increase in demand of the product which led to a huge need of immediate workforce. They hired a lot of employees and during the launch of their Apple III, Apple Company became a real company. Like any company, Apple Inc has had its good and bad days alike. They lost the co-founder Steve Jobs in October 5, 2011 to respiratory arrest and Steve Wozniak retired. Currently, Tim Cook is the company’s CEO. Products and services. Apple Company has successfully launched and sold many products and services worldwide. They create personal computers, mobile phones, portable digital music players and media devices. They also provide the OS X and iOS operating systems and consumer and professional software. They also offer application software, headphones, printers and storage devices. Their most popular products and services include iPhone, iPod, Macintosh (MAC) computers, iPad, Apple TV, iCloud, iTunes Stores, iBooks Store, and Mac App Store. Competition facing the company’s products. IPhone is currently one of the most trending and most sort after mobile phone in the gadget market. Samsung, Sony, and Nokia are some of the multinational corporations that compete gadget-wise with Apple. Apple Inc launched iPhone 6 and iPhone 6 Plus last year. They were released on September 2014. These two iPhone versions have tremendously upgraded from the previous version iPhone 5s. Unfortunately, Apple is not the only the only company with an upgrade in its mobile devices. Samsung came up with its new version, Samsung Note IV which is equally popular and trendy as Apple’s new versions. Nokia continually launches its Nokia Lumia phones the latest being Nokia Lumia 1020. Sony also has quite impressive and outstanding mobile phones. One of their greatest achievements is the launching of its water-proof mobile phones. Sony Xperia Z was one of the firstly launched water-proof phones that captured the hearts of many. All these m obile devices by different corporations battle out in a perfect competitive market with Apple Inc. In order to keep up, Apple should aim at advancing and embracing innovative ideas and continually launch high-end products. Personal computers (PCs) are some of the designs and products that Apple manufacturers. Competition is tense because companies like Dell Inc, Hewlett-Packard Company (HP), Lenovo Group Limited, and Acer Inc. These companies produce personal computers and laptops too. Some of the companies have established a firm reputation in the manufacture of the computers. Companies like Dell and HP are world widely sort after by multiple organizations due to their consultancy services. This makes the competition quite intense for Apple. Apple has come up with Macintosh (MAC) computers and they are quite marketable but regionally and continentally. This is not the same case with Dell and HP products which are sort after globally. IPods are Apple’s digitally enabled pocket-size music players. They made music less burdensome and more enjoyable. One could be able to enjoy music without the burdensome struggle of carrying around a phone or a music player. Apple had been the main and single company that had successfully launched and marketed the digital music player devices. Samsung did not want to disappoint, so they launched their own, Samsung Galaxy Player 4.0 and Samsung Galaxy Player WiFi 5.0. Sony was not left behind; they also launched their own Sony Walkman Z. It was prosperous in the market but not as equally successful as the iPod touch. Apple happens to be a producer of operating services. They offer OS X and iOS operating systems. Their Macintosh computers use the MAC OS X version while their mobile phones use the IOS mobile operating system. Their operating system gets extremely wild competition from Windows and Android operating systems. Windows OS is managed by Microsoft and is used by different gadgets. Many computers have installed the Windows OS. Nokia recently partnered with Microsoft in launching their new phones with enabled Windows OS. Android OS is managed by Google Inc. under the maintenance of Open Handset Alliance. It’s the most common OS used by majority of the mobile devices and companies such as Sony and Samsung. Majority of these operating systems have an upper hand advantage, they offer the developers freedom to come up with more versions of the OS. This is what makes the Android OS more popular than Apple’s OS X and iOS systems. Apple TV was first launched in 2006 and the current one was introduced on March 20012. Many people confuse the Apple TV with actual television but that is not the case. The Apple TV is a compact set that uses application software to wirelessly stream contents from a nearby PC to a high definition (HD) TV. It faces competition from Amazon Fire TV, Roku Streaming Stick, Virgin Media TiVo, Now TV and Freetime. Amazon Fire TV is widely common because it directly streams any media content into your TV. This is way easier because it does not have the pressure of MAC OS X systems. Competitors in the market. Every company experiences competition, in one way or the other. The competition can be from within or from outside. Majority of the competition that most corporations face is from other rival organizations. Apple Inc. like any normal corporation has its own competition in the existing market. Some of the top competitors that compete with Apple Inc. include, Sony Corporation, Samsung Electronics Co., Ltd, Dell Inc, Hewlett-Packard Company (HP), Microsoft Corporations and others. Corporations in competition Sony Corporation (Sony) is a producer of electronic products. The company’s headquarter is in Tokyo, Japan. It designs and sells audio and video products, personal computers, cameras, mobile phones, televisions, batteries, game software, music software and animation works. Sony is considered as competition by Apple Inc due to their unique designs in personal computers and mobile phones. Sony has been successful in launching mobile gadgets that can operate in water which gave many mobile manufacturing companies including Apple Inc. a run for their money. This phone design marked a new margin of innovation and these assisted the Sony Corporation in setting pace for the other organizations. Samsung Electronics Co., Ltd. (Samsung) is a sole manufacturer of televisions, mobile phones, personal computers, LCD panels, and storage and fiber optic devices. Samsung’s headquarters are located in Seoul, Republic of Korea. It offers stiff competition to Apple and other gadget manufacturing companies. They intend to fully respond to the ever growing demand of high-end products. They plan to achieve this by launching successful smart-phone with the purpose of making fiction reality. Some of their recently launched products, such as Samsung Note IV and Samsung Galaxy S IV come highly recommended in the market, competing with Apple’s iPhone 6 and iPhone 6 Plus. The Samsung and Apple Company have been at loggerheads and in constant competition to see whose products and services would yield the most utility. Dell Inc is also one of the leading and top manufacturers of desktop personal computers, software and peripherals. Its main headquarter is in Round Rock, the US. They mainly produce and sell laptops, mobile phones, desktops, printers, and storage devices. They are competitive due to their extensive manufacturing and supplying of laptops and desktops. Majority of their products are globally used by many organizations. Apple and Dell computers both offer excellent services, but majority of the people view Apple’s products as generally expensive. Evaluation of consumer prices and general market prices agree with the hypothesis. Apple products and services are generally more expensive than others, including Dell. Dell is quite popular in a lot of organizations due to its easy to access and easy to use applications. Hewlett-Packard Company (HP), like Dell also produces and manufacturer personal computers, and application software. HP is headquartered at Palo Alto, California, the US. Their main products include laptops, desktops, printers and mobile phones. They compete with Apple Inc mainly in the marketing and selling of personal computers and laptops. Their mobile phone brands and tablets have not swept the market by storm. With their plan to extensively launch new products such as their HP ElitePad 1000 and HP ProPad 600, they might rocket to be the highest technology companies. Currently HP stands at a higher edge in production and trade-offs in personal computers and laptops than the Apple Inc. Case study on the apple INC Apple Inc. has greatly succeeded in shaping the today’s technology. Apple provides services to legal companies, healthcare facilities, government institution and media platforms. These different institutions yield satisfaction from products and services that are offered by Apple Inc. Most of these facilities are equipped with Apple personal computers, printers, and tablets. Tablets are quite useful in the current setting. In the not so distant past, people used to carry around laptops in order to access notes or presentations. This quite both cumbersome to a lot of people. But with introduction of Apple Tablets, iPads, work was lessened and less burdensome. Apple’s CEO, Tim Cook, recently convinced corporations that Apple Inc. is currently moving forward in enhancing a more secure platform for organizations through data-encryption technology. The main aim of this strategy is to convince more businesses to partner in making Apple Inc. their sole software producer. If an organization considers itself as the pinnacle success or exclusivity, it has to portray such an image. For example, if it’s a five-star hotel, for people to rate it as such, it should have elite and prestigious facilities and services. Apple Inc. happens to produce exclusive products such as their fine MAC computers and Apple TV. The Apple TV could be installed in different rooms so that the guests could watch the streamed videos and music. The MAC computers would be used by staff such as at the reception. If the hotel management decides to invest in these products, they may achieve the reputation they desire. These actions would set them apart from the rest of the resorts hence giving them a competitive advantage. In the current global-awareness and internet ruled age, majority of the organizations seek to get customers by luring them with the promise of special gifts and prizes to be won. Some are true while some do not hold up to their end of the bargain. In different websites, companies advertise their products and place an ad in the page claiming that if someone takes certain quizzes or subscribes to a certain subscriptions, they would stand a chance of winning a prize. More often than not these coveted prizes include tablets, mobile phones or laptops. When the iPhone 6 emerged, many ads placed a free offer of an iPhone 6 or iPhone 6 Plus in order to attract people. This is considered as a competitive advantage to the companies. Hence, the products of the technology company are once more useful in enabling businesses to pitch their ideas. References BIBLIOGRAPHY l 1033 Apple. (n.d.). Retrieved March 5, 2015, from Apple: https://www.apple.com/ Eichenwald, K. (2014, June). The Great Smart Phone War; Apple vs. Samsung. Retrieved March 05, 2015, from Vanity Fair. iPhones. (2013, January). Retrieved March 05, 2015, from Apple: https://www.apple.com/iPhones/ iPod. (2011). Retrieved March 05, 2015, from Apple: https://www.apple.com/iPod/ MAC. (2012). Retrieved from Apple: https://www.apple.com/MAC/ Mackie, K. (2011). Analysts:Microsoft Facing Disruptive Competition From Apple and Google. Competion. Source document

Women: Alcohol Addiction Essay -- Alcohol

The alcoholic beverage has remained an established element to society’s social world and has grown into a way of living. As alcohol continues to flourish in its prevalence among citizens of the United States, so does the concept of alcohol addiction. A person becomes addicted to alcohol when they â€Å"drink excessively and develops a dependence that results in noticeable mental disturbance, or an interference with bodily and mental health, their interpersonal relations, and their smooth social and economic functioning† (Calahan, 1970, pp. 3). In 2009, the National Institute on Drug Abuse reported that about 52% of Americans used alcohol at least once within 30 days of their survey. As the percentage of Americans who consume alcohol continues to increase, the number of people who become addicted to alcohol remain at a higher risk for medical complications. Although men have been known to drink more likely than women, the side effects that women are more prone to s uffer not only affect themselves but also the children they bear (Wilkinson, 1970). As a legal drug in the United States, alcohol joins the many chemicals that bring harmful effects upon the body. Alcohol has been known to affect every organ in the body of the person who consumes it and has the potential to damage a developing fetus (National Institute on Drug Abuse, 2009). According to the National Institute on Drug Abuse (2009), occasional alcohol use can impair brain functions and various motor skills whereas on the other hand, heavy use can increase the risk of â€Å"certain cancers, stroke, and liver disease.† With heavy usage of alcohol, a person may develop an addictive craving or continuance for alcohol use despite the harm or injury it can cause to both the us... ...). The American Alcoholic. Charles C. Thomas Publisher: Illinois. McConville, B. (1983). Women Under the Influence. Schocken Books: New York. National Institute on Drug Abuse. (2009). Alcohol. National Institutes of Health. Retrieved from http://www.drugabuse.gov/drugs-abuse/alcohol. National Association for Children of Alcoholics. (2012). Children of Addicted Parents: Important Facts. Retrieved from http://www.nacoa.net/pdfs/addicted.pdf. National Household Survey on Drug Abuse. (2001). Summary of National Findings. Office of Applied Studies: Maryland. DHHS Publication No. SMA 02-3758. Seixas, J. S., & Youcha, G. (1985). Children of Alcoholism. Crown Publishers, Inc.: New York. Sher, K. J. (1991). Children of Alcoholics. The University of Chicago Press: Chicago. Wilkinson, R. (1970). The Prevention of Drinking Problems. Oxford University Press: New York.

the conscience :: essays research papers

She could not take it anymore. She was convinced that she could no longer endure the presence of that hateful vagabond. She was determined to end it, end everything, no matter how bad it might be, rather than bear his tyranny.   Ã‚  Ã‚  Ã‚  Ã‚  It had nearly been fifteen days with that struggle. What she didn't understand was the tolerance that Antonio had with that vagabond. No, truthfully, it was strange.   Ã‚  Ã‚  Ã‚  Ã‚  The vagabond begged for hospitality for one night: the night of Ash Wednesday exactly, when the wind dragged along a blackish dust, whirling, and whipped the glass windows with a dry crackle. Afterwards, the wind ceased, and there befell a strange calm to the earth, and she pondered, while closing and adjusting the window blinds.   Ã‚  Ã‚  Ã‚  Ã‚  --I don't like this calm--   Ã‚  Ã‚  Ã‚  Ã‚  She hadn't even locked the back door when that man arrived. She heard his call ringing from behind the door in the kitchen:   Ã‚  Ã‚  Ã‚  Ã‚  --Kind lady...--   Ã‚  Ã‚  Ã‚  Ã‚  Mariana felt sudden fear. The man, old and raggedy, was there; a hat in one hand, with a begging manner.   Ã‚  Ã‚  Ã‚  Ã‚  --Shall God protect you...--he started to say. But the vagabond's eyes looked upon her in a strange way. A way that robbed her of words.   Ã‚  Ã‚  Ã‚  Ã‚  Many men like him begged for the grace of heaven on winter nights. But something about that man frightened her without motive.   Ã‚  Ã‚  Ã‚  Ã‚  The vagabond began to recite his ballad: For one night, if they would kindly let him sleep in a stable; a piece of bread and a stable; he doesn't ask for more.   Ã‚  Ã‚  Ã‚  Ã‚  The storm announced its coming...   Ã‚  Ã‚  Ã‚  Ã‚  Outside, Mariana heard the drumming of the rain against the door. A deaf rain, thick, a warning of the approaching storm.   Ã‚  Ã‚  Ã‚  Ã‚  I'm alone--she said dryly--. I mean...when my husband is away, I do not want unknown people in my house. Go, and may God protect you.   Ã‚  Ã‚  Ã‚  Ã‚  But the vagabond remained still, looking at her. Slowly, he put his hat on and said: --I'm a poor man, kind lady. I never did any wrong to anyone. I ask very little: a piece of bread...   Ã‚  Ã‚  Ã‚  Ã‚  In that moment, two maids, Marcelina and Salome, came running in. They came from the vegetable garden, with their aprons over their heads, screaming and laughing. Mariana felt a strange relief after seeing them.   Ã‚  Ã‚  Ã‚  Ã‚  Well--she said--. Fine... but only for this night. For tomorrow when I awake, I do not find you here....   Ã‚  Ã‚  Ã‚  Ã‚  The old man knelt, smiling, and said a strange poem of thanks.   Ã‚  Ã‚  Ã‚  Ã‚  Mariana ascended the stairs and went to go to bed.

Enterperneurship and Notes

Entrepreneurship—MGT602 VU Table of Contents Lesson No. Title / Topic 1 Introduction 2 The Nature and Importance of Entrepreneurship 3 Entrepreneurial Process/ Start up 4 The Entrepreneurial and Intrapreneurial Mind 5 The Entrepreneurial and Intrapreneurial Mind (Contd†¦ ) 6 The Entrepreneurial and Intrapreneurial Mind (Contd†¦ ) 7 The Entrepreneurial and Intrapreneurial Mind (Contd†¦ ) 8 The Individual Entrepreneur 9 The Individual Entrepreneur (Contd†¦ ) 10 The Individual Entrepreneur (Contd†¦ 11 International Entrepreneurial Opportunities 12 International Entrepreneurial Opportunities 13 International Entrepreneurial Opportunities (Contd†¦ ) 14 International Entrepreneurial Opportunities (Contd†¦ ) 15 International Entrepreneurial Opportunities (Contd†¦ ) 16 Creativity and Business Idea 17 Creativity and the Business Idea 18 Legal Issues for the Entrepreneur 19 Legal Issues for Entrepreneur (Contd†¦ ) 20 Legal Issues for the Entr epreneur (Contd†¦ ) 21 Creating and Starting the Venture 22 Creating and Starting the Business Venture (Contd†¦ 23 Creating and Starting the Venture (Continued) 24 Creating and Starting the Business Plan Continued) 25 The Marketing Plan 26 The Marketing Mix 27 The Organizational Plan 28 The Organizational Plan (Continued) 29 The Organization Plan (Contd†¦ ) 30 The Financial Plan 31 The Financial Plan (Continued†¦ ) 32 Pro Forma Sources and Uses of Funds 33 Pro forma Sources and Uses of Funds 34 Bank Lending Decision 35 Sources of Capital 36 Sources of Capital (Contd†¦ ) 37 Capital Sources in Pakistan Preparing for the New Venture Launch: Early Management Decisions 38 (Contd†¦ ) Page No. 3 06 08 13 15 18 20 22 24 26 29 33 35 37 39 40 43 46 49 52 54 56 58 60 62 65 68 70 72 75 77 81 83 85 87 89 91 95  © Copyright Virtual University of Pakistan 1 Entrepreneurship—MGT602 VU 39 Preparing for the New Venture Launch: Early Management Decisions (Contdâ € ¦ ) 40 Preparing for the New Venture Launch: Early Management Decisions (Contd†¦ ) 41 Preparing for the New Venture Launch: Early Management Decisions (Contd†¦ ) 96 97 99 42 Preparing for the New Venture Launch: Early Management Decisions (Contd†¦ ) 43 New Venture Expansion Strategies and Issues 44 New Venture Expansion Strategies and Issues (Contd†¦ 45 Entrepreneurship and Pakistan 102 103 105 108  © Copyright Virtual University of Pakistan 2 Entrepreneurship—MGT602 INTRODUCTION Lesson 01 LEARNING OBJECTIVES 1. 2. 3. 4. 5. VU 1. To introduce the concept of entrepreneurship and its historical development. 2. To explain the entrepreneurial decision process. 3. To identify the basic types of start-up ventures. 4. To explain the role of entrepreneurship in economic development. 5. To discuss the ethics and racial responsibility of entrepreneurs. NATURE AND DEVELOPMENT OF ENTREPRENEURSHIP The term entrepreneur comes from the French and translates â€Å" between-taker† or go-between. † Earliest Period In this period the money person (forerunner of the capitalist) entered into a contract with the go-between to sell his goods. While the capitalist was a passive risk bearer, the merchant bore all the physical and emotional risks. Middle Ages In this age the term entrepreneur was used to describe both an actor and a person who managed large production projects. In such large production projects, this person did not take any risks, managing the project with the resources provided. A typical entrepreneur was the cleric who managed architectural projects. 7th Century In the 17th century the entrepreneur was a person who entered into a contract with the government to perform a service Richard Cantillon, a noted economist of the 1700s, developed theories of the entrepreneur and is regarded as the founder of the term. He viewed the entrepreneur as a risk taker who â€Å"buy[s] at certain price and sell[s] at an uncertain price, t herefore operating at a risk. † 18th Century In the 18th century the person with capital was differentiated from the one who needed capital. In other words, entrepreneur was distinguished from the capital provider.Many of the inventions developed during this time as was the case with the inventions of Eli Whitney and Thomas Edison were unable to finance invention themselves. Both were capital users (entrepreneurs), not capital providers (venture capitalists. ) Whitney used expropriated crown property. Edison raised capital from private sources. A venture capitalist is a professional money manager who makes risk investments from a pool of equity capital to obtain a high rate of return on investments. 19th and 20th Centuries In the late 19th and early 20th centuries, entrepreneurs were viewed mostly from an economic perspective.The entrepreneur â€Å"contributes his own initiative, skill and ingenuity in planning, organizing and administering the enterprise, assuming the chance of loss and gain. † Andrew Carnegie is one of the best examples of this definition, building the American steel industry on of the wonders of industrial world, primarily through his competitiveness rather than creativity. In the middle of the 20th century, the notion of an entrepreneur as an innovator was established.  © Copyright Virtual University of Pakistan 3 Entrepreneurship—MGT602Innovation, the act of introducing something new, is one of the most difficult tasks for the entrepreneur. VU Edward Harriman and John Pierpont Morgan are examples of this type of entrepreneur. Edward reorganized the Ontario and southern railroad through the northern pacific trust and john developed his large banking house by reorganizing and financing the nation’s industries. This ability to innovate is an instinct that distinguishes human beings from other creatures and can be observed throughout history. DEFINITION OF ENTREPRENEUR The concept of entrepreneurship from a person al perspective has been explored in this century.This exploration is reflected in the following three definitions of an entrepreneur: In almost all definitions of entrepreneurship, there is agreement that we are talking about a kind of behavior that includes: 1. Initiative taking 2. The organizing and reorganizing or social/economic mechanisms to turn resources and situations to practical account. 3. The acceptance of risk or failure. To an economist, an entrepreneur is one who brings resources, labor, materials, and other assets into combinations that make their value greater than before, and one who introduces changes, innovations, and a new order.To a psychologist, such a person is typically driven by certain forces- the need to obtain something, to experiment, to accomplish or perhaps to escape the authority of others. Entrepreneurship is the dynamic process of creating incremental wealth. Our definition of entrepreneurship involves four aspects: 1. Entrepreneurship involves the creation process. 2. It requires the devotion of the necessary time and effort. 3. It involves assuming the necessary risks. 4. The rewards of being an entrepreneur are independence, personal satisfaction, and monetary reward.For the person who actually starts his or her own business there is a high failure rate due to poor sales, intense competition, lack of capital or lack of managerial ability. THE ENTR EPRENEURIAL DECISION PROCESS (Deciding to become an entrepreneur by leaving present activity ) Many individuals have difficulty bringing their ideas to the market and creating new venture entrepreneurship and the actual entrepreneurial decisions have resulted in several million new businesses being started throughout the world.Although no one knows the exact number in the United States. Indeed, millions of ventures are formed despite recession, inflation, high interest rates, and lack of infrastructure, economic uncertainty and the high probability of failure The entrepreneurial decision process entails a movement from something to something— a movement from a present life style to forming a new enterprise. To leave a present live-style to create something new comes from a negative force–disruption. Many companies are formed by people who have retired, moved, or been fired.Another cause of disruption  © Copyright Virtual University of Pakistan 4 Entrepreneurship—MGT602 is completing an educational degree. The decision to start a new company occurs when an individual perceives that forming a new enterprise is both desirable and possible. VU KEY TERMS Breakthrough innovations A new product with some technological change Business ethics The study of behavior and morals in a business situation Desirability of new venture formation Aspects of a situation that make it desirable to start a new company.Entrepreneur Individual who takes risks and starts something new Entrepreneur as an innovator An individual developing something unique Entrep reneurial decision process Deciding to become an entrepreneur by leaving present activity Entrepreneurship Process of creating something new and assuming the risks and rewards  © Copyright Virtual University of Pakistan 5 Entrepreneurship—MGT602 THE NATURE AND IMPORTANCE OF ENTREPRENEURSHIP Lesson 02 VU LEARNING OBJECTIVES 1. To introduce the concept of entrepreneurship and its historical development. . To explain the entrepreneurial decision process. Desirability of New Venture Formation (Aspects of a situation that make it desirable to start a new company) The perception that starting a new company is desirable results from an individual’s culture, subculture, family, teachers and peers. American culture places a high value on being your own boss, being a success and making money therefore, it is not surprising to find a high rate of company formation in the United States.On the other hand in some countries making money is not as valued and failure may be a disgrac e. The rate of business formation in these countries is not as high. Many subcultures that shape value systems operate within a cultural framework. Studies indicate that a high percentage of founders of companies had fathers and/or mothers who valued independence. Encouragement to form a company is also gained from teachers, who can significantly influence individuals. An area having a strong educational base is also a requirement for entrepreneurial activity.Peers are important, also, as is an area with an entrepreneurial pool and peer-meeting place. Possibility of New Venture Formation (Factors making it possible to create a new venture) Although the desire of new venture formation derived from the individual’s culture, subculture, family, teachers and peers needs to be present before any action is taken, the second feature necessary centers around this question â€Å"What makes it possible to form a new company? † Formal education nd previous business experience giv e a potential entrepreneur the skills needed to form and manage a new enterprise. Although educational systems are important in providing the needed business knowledge, individual will tend to be more successful in forming in fields in which they have worked. The government also contributes by providing the infrastructure to help a new venture. The market must be large enough and the entrepreneur must have the marketing know-how to put together the entire package. Finally, financial resources must be readily available.Although most start-up money comes from personal savings, credit, and friends, but there is often a need for additional capital. Riskcapital availability plays an essential role in the development and growth of entrepreneurial activity.  © Copyright Virtual University of Pakistan 6 Entrepreneurship—MGT602 VU KEY TERMS Foundation companies A type of company formed from research and development that usually does not go public. Gazelles Very high growth ventures. Government as an innovator A government active in commercializing technology High-potential ventures.A venture that has high growth potential and therefore receives great investor interest Entrepreneurship Entrepreneurship within an existing business structure Iterative synthesis The intersection of knowledge and social need that starts the product development process Lifestyle firm A small venture that supports the owners and usually does not grow Ordinary innovation Z new product with little technological change Possibility of new venture formation Factors making it possible to create a new venture Copyright Virtual University of Pakistan 7 Entrepreneurship—MGT602 ENTREPRENEURIAL PROCESS/START UPS Lesson 03 LEARNING OBJECTIVES 1. To identify the basic types of start-up ventures. 2. To explain the role of entrepreneurship in economic development 3. To discuss the ethics and racial responsibility of TYPES OF START-UPS Life-Style Firms A life-style firm exists primarily to su pport the owners and usually has little growth opportunity.This type of firm may grow after several years to 30 or 40 employees. Foundation Companies VU A type of company formed from research and development that usually does not go public. This firm can grow in five to ten years from 40 to 400 employees. High-Potential Venture A venture has high growth potential and therefore receives great investor interest. The company may start out like a foundation company, but its growth is far more rapid. After five to ten years the company could employ around 500 employees.These firms are also called gazelles and are most important for the economic development of an area ROLE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT The role of entrepreneurship in economic development involves initiating change in the structure of business and society. One theory of economic growth depicts innovation as the key, not only in developing new products, but also in stimulating investment interest. The new capi tal created expands the capacity for growth (supply side), and new spending utilizes the new capacity and output (demand side. In spite of the importance of investment and innovation in the economic development of an area, there is still a lack of understanding of few factors which are as follows: †¢ The product-evolution process is the process through which innovation develops and commercializes through entrepreneurial activity, which in turn stimulates economic growth. It begins with knowledge in the base technology and ends with products or services available in the marketplace. †¢ The critical point in the process is the intersection of knowledge and a recognized social need, called the iterative synthesis.This point often fails to evolve into a marketable innovation. Most innovations introduced in the market are ordinary innovations, with little uniqueness. Technological innovations refer to new products with significant technological advancements. †¢ †¢ â⠂¬ ¢ Breakthrough innovations mean the development of new products with some technological change. Regardless of the level of uniqueness or technology, each innovation evolves into and develops towards commercialization through one of three mechanisms: the government, entrepreneurship, or entrepreneurship.Entrepreneurship has assisted in revitalizing areas of the  © Copyright Virtual University of Pakistan 8 Entrepreneurship—MGT602 VU inner city. Individuals in inner-city areas can relate to the concept and see it as a possibility for changing their present situation. GOVERNMENT AS AN INNOVATOR A government active in commercializing technology is known as an innovative government. Commercializing technology is frequently called technology transfer. However, few inventions resulting from government-sponsored research have reached the commercial market.Most of the by-products from scientific research have little application to any social need. The government lacks the busines s skills needed for successful commercialization. Government bureaucracy and red tape also often inhibit the timely formation of the business. Recently, federal labs have been required to commercialize some of their technology each year and some are providing entrepreneurial training Intrapreneurship Intrapreneurship refers to entrepreneurship within an existing organization or business structure. Existing businesses have the financial resources, business skills, and arketing and distribution system to commercialize innovation successfully. Often the bureaucratic structure, emphasis on short-term profits, and structured organization inhibit creativity. Some corporations have tried to establish an Entrepreneurial spirit in their organization, some in the form of strategic business units (SBUs. ) Intrapreneurship can also bridge the gap between science and the marketplace. It is the practice of using entrepreneurial skills without taking on the risks or accountability associated with entrepreneurial activities.It is practiced by employees within an established organization using a systemized business model. Employees, perhaps engaged in a special project within a larger firm are supposed to behave as entrepreneurs, even though they have the resources and capabilities of the larger firm to draw upon. Capturing the dynamic nature of entrepreneurial management (trying things until successful, learning from failures, attempting to conserve resources, etc. ) adds to the potential of otherwise static organizations without exposing those employees or self mployed people to the risks or accountability normally associated with entrepreneurial failure. Employee Intrapreneur An employee Intrapreneur is the person who focuses on innovation and creativity and who transforms a dream or an idea into a profitable venture, by operating within the organizational environment. Thus, Intrapreneurs are inside entrepreneurs who follow the goal of the organization. Employees, perhaps e ngaged in a special project within a larger firm are supposed to behave as entrepreneurs, even though they have the resources, capabilities and security of the larger firm to draw upon.Capturing a little of the dynamic nature of entrepreneurial management (trying things until successful, learning from failures, attempting to conserve resources, etc. ) adds to the potential of an otherwise static organizations without exposing those employees to the risks or accountability normally associated with entrepreneurial failure Entrepreneurship The third method for bridging the gap between the science and the marketplace is via  © Copyright Virtual University of Pakistan 9 Entrepreneurship—MGT602 VU entrepreneurship. Many entrepreneurs have difficult time bridging this gap and creating new ventures.They may often lack managerial skills, marketing capabilities, or financial resources. They frequently do not know how to interface with banks, suppliers, customers, and distributors. Ye t, entrepreneurship is the most effective method for bridging the gap and creating new enterprises, these activities affect an areas economy by building the economic base and providing jobs. ENTREPRENEURIAL CAREERS AND EDUCATION Since 1985 there has been an increased interest in entrepreneurial careers fostered by factors such as increased media coverage of entrepreneurs and employment shifts.A conceptual model for understanding entrepreneurial careers views the career stages as interacting with other stages and events in the individual’s life, the life-cycle approach. This approach conceptualizes entrepreneurial careers in nine categories. 1. Educational environment 2. The individual’s personality 3. Childhood family environment 4. Employment history 5. Adult development history 6. Adult family/non-work history 7. Current work situation 8. The individual’s current perspective 9.The current family situation Although there exist a common perception that entrepren eur are less educated than the general population however studies have found entrepreneurs overall and female entrepreneurs in particular, are far more educated than the general population. However, this education sometimes does not develop the specific skills needed in the venture, especially for women entrepreneurs. Childhood influences have been explored, particularly in terms of values and the individual’s personality . The traits most frequently researched are the need for achievement, locus of control, risk-taking, and gender identity.The research on the childhood family environment of the entrepreneur has had more definite results. Entrepreneurs tend to have self-employed fathers, and many also have entrepreneurial mothers. The family plays an important role in establishing the desirability of entrepreneurship as a career. Employment history also has an impact on entrepreneur careers in both positive and a negative sense. Entrepreneurs tend to have a higher probability of success when the venture created is in their field of experience. Negative displacement (such as dissatisfaction with various aspects of ones job) also encourages entrepreneurship.Although no definite research has been done on the adult development history of entrepreneurs, it appears to also affect entrepreneur’s careers. One’s development history has somewhat more of an impact on women, since they tend to start businesses at a later stage in life. There is a lack of data on adult family/non-work history and the available data adds little understanding towards entrepreneurial career development. Entrepreneurs are known for their strong work values, their long workdays, and their dominant management style. They tend to fall in love with the organization and will sacrifice almost Copyright Virtual University of Pakistan 10 Entrepreneurship—MGT602 VU anything in order for it to survive. While in college, few future entrepreneurs realize that they will pursue e ntrepreneurship as their major life goal. Relatively few individuals will start a business immediately after graduation. Entrepreneurship education is a fast growing area in colleges and universities. While the courses vary by university, there is a great commonality, especially in the initial few courses. The skills required by entrepreneurs can be classified in to three main areas: 1.Technical skills involve such things as writing, listening, oral presentations, coaching, and technical know-how. 2. Business management skills include those areas involved in starting, developing and managing any enterprise. 3. Personal entrepreneurial skills differentiate an entrepreneur from a manager and include inner control (discipline), risk taking, innovativeness, persistence, visionary leadership, and being change oriented. These skills and objectives form the basis of the modular approach to an entrepreneurship curriculum.Today entrepreneurs are recognizing the need to learn some of the scie nce of management in an MBA program in order to grow their businesses effectively in the global environment. ETHICS AND SOCIAL RESPONSIBILITY OF ENTREPRENEURS The entrepreneur must establish a balance between ethical exigencies, economic expediency, and social responsibility. A managers attitudes concerning corporate responsibility tend to be supportive of laws and professional codes of ethics. Entrepreneurs have few reference persons, role models, and developed internal ethics codes.Entrepreneurs are sensitive to peers pressure and social norms in the community as well as pressures from their companies. While ethics refers to the â€Å"study of whatever is right and good for humans,† business ethics concerns itself with the investigation of business practices in light of human values. The word â€Å"ethics† stems from the Greek ethos, meaning custom and usage. Development of Our Ethical Concepts Socrates, Plato, and Aristotle provide the earliest writings dealing with ethical conceptions; earlier writings involving moral codes can be found in both Judaism and Hinduism.American attitudes on ethics result from three principle influences: Judeo-Christian heritage, a belief in individualism and opportunities based on ability rather than social status. Research on business ethics can be broken down into four broad classifications: 1. Pedagogically-oriented inquiry 2. Theory-building without empirical testing 3. Empirical research, measuring the attitudes and ethical beliefs of students and academic faculty 4.Empirical research within business environments THE FUTURE OF ENTREPRENE URSHIP In spite of the differences in definition of entrepreneurship, there are common aspects such as risk taking, creativity, independence, and rewards. Entrepreneurship is currently being embraced by educational institutions, governments, societies, and corporations. Schools are increasing their emphasis on entrepreneurship in terms of courses and academic research. In Eu rope many universities have started programs in entrepreneurship. There has also been an increase in academic research, endowed chairs and centers of Copyright Virtual University of Pakistan 11 Entrepreneurship—MGT602 VU entrepreneurial activity. Governments have also promoted the growth of entrepreneurship. Individuals are encouraged to form new businesses and provided tax incentives, roads, and a communications system to facilitate this creative process. Some state governments are developing strategies for fostering entrepreneurial activity. The venture capital industry has benefited from lowering of capital gains tax rates and more relaxed rules regarding pension fund investment. Society’s support of entrepreneurship is critical in providing motivation and public support.The media has played a powerful role in developing public support. Media coverage uplifts the image of the entrepreneur and growth companies. Articles have appeared in newspapers such as New York Ti mes, The Wall Street Journal, and the Washington Post. Business magazines such as Barrons, Business Week, Forbes, and Fortune have provided coverage. Magazines such as Black Enterprise, Entrepreneur, Inc. , and Venture focus on issues of the entrepreneurial process. Television on both a national and local level has highlighted entrepreneurship. Large companies will continue to have a special interest in Entrepreneurship in the future.The largest 15 companies account for over 20 percent of the total U. S. research and development. Other companies will create more new businesses through Entrepreneurship. KEY TERMS Product-evolution process Process for developing and commercializing an innovation Risk taking Taking calculated chances in creating and running a venture. Technological innovation A new product with significant technological advancement Technology transfer Commercializing the technology in the laboratories into new products  © Copyright Virtual University of Pakistan 12 E ntrepreneurship—MGT602THE ENTREPRENEURIAL AND INTRAPRENEURIAL MIND LEARNING OBJECTIV ES 1. To explain the aspects of the entrepreneurial process. 2. To explain the differences between entrepreneurial and managerial domains. 3. To explain the organizational environment conducive for entrepreneurship. 4. To identify the general characteristics of an Entrepreneur. 5. To explain the process of establishing entrepreneurship in an organization. VU Lesson 04 ENTREPR E NEURIAL PROCESS The entrepreneurial process involves finding, evaluating, and developing an opportunity by overcoming the strong forces that resist the creation of something new.Phase 1: Identifying and Evaluating the Opportunity Most good business opportunities result from an entrepreneur being alert to possibilities. Some sources are often fruitful, including consumers and business associates. Channel members of the distribution system-retailers, wholesalers or manufacturer’s reps-are also helpful. Technically -oriented individuals often identify business opportunities when working on other projects. Each opportunity must be carefully screened and evaluated-this is the most critical element of the entrepreneurial process. . The evaluation process involves looking at b. The creation and length of the opportunity c. Its real and perceived value d. Its risks and return. e. It’s fit with the skills and goals of the entrepreneur f. Its differential advantage in its competitive environment It is important to understand the cause of the opportunity, as the resulting opportunity may have a different market size and time dimension. The market size and the length of the window of opportunity are the primarily bases for determining risks and rewards.The risks reflect the market, competition, technology, and amount of capital involved. The amount of capital forms the basis for the return and rewards. The return and reward of the present opportunity needs to be viewed in light of any possible s ubsequent opportunities as well. The opportunity must fit the personal skills and goals of the entrepreneur. The entrepreneur must be able to put forth the necessary time and effort required for the venture to succeed. One must believe in the opportunity enough to make the necessary sacrifices.Opportunity analysis, or an opportunity assessment plan, should focus on the opportunity and provide the basis to make the decision, including: a. A description of the product or service b. An assessment of the opportunity c. Assessment of the entrepreneur and the team d. Specifications of all the activities and resources needed e. The source of capital to finance the initial venture The most difficult aspect of opportunity analysis is the assessment of the opportunity. Phase 2: Develop a Business Plan A good business plan must be developed in order to exploit the opportunity defined.A good business plan is important in developing the opportunity and in determining the resources required, obta ining those resources and successfully managing the venture.  © Copyright Virtual University of Pakistan 13 Entrepreneurship—MGT602 VU Phase 3: Determine the Resources Required. Assessing the resources needed starts with an appraisal of the entrepreneur’s present resources. Any resources that are critical must be distinguished from those that are just helpful. Care must be taken not to underestimate the amount and variety of resources needed. Acquiring needed resources, while giving up as little control as possible, is difficult.The entrepreneur should try to maintain as large an ownership position as possible, particularly in the start-up stage. As the business develops, more funds will probably be needed, requiring more ownership be relinquished. Alternative resource suppliers should be identified, along with their needs and desires, in order to structure a deal with the lowest cost and loss of control. Phase 4: Manage the Enterprise. The entrepreneur must employ t hese resources through implementation of the business plan. This involves implementing a management structure, as well as identifying a control system.KEY TERMS Administrative domain The ways managers make decisions Business plan The description of the future direction of the business Corporate culture The environment of a particular organization Entrepreneurial domain The ways entrepreneurs make decisions Entrepreneurial process The process through which a new venture is created by an entrepreneur Entrepreneurial culture The environment of an entrepreneurial-oriented organization Entrepreneurship Entrepreneurship within an existing business organization Opportunity identification The process by which an entrepreneur comes up with the opportunity for a new venture Opportunity parameters Barriers to new product creation and development Top management commitment Managers in an organization strongly supporting entrepreneurship Traditional managers Managers in a non-entrepreneurial-orie nted organization Window of opportunity The time period available for creating the new venture  © Copyright Virtual University of Pakistan 14 Entrepreneurship—MGT602 VUTHE ENTREPRENEURIAL AND INTRAPRENEURIAL MIND (continued†¦) Lesson 05 LEARNING OBJECTIVES 1. To explain the aspects of the entrepreneurial process. 2. To explain the differences between entrepreneurial and managerial domains. 3. To explain the organizational environment conducive for entrepreneurship. 4. To identify the general characteristics of an entrepreneur. 5. To explain the process of establishing entrepreneurship in an organization. MANAGERIAL VERSUS ENTREPRENEURIAL DECISION MAKING The difference between the entrepreneurial and managerial styles involves five business dimensions. Strategic Orientation The entrepreneur’s strategic orientation depends on his or her perception of the opportunity.This orientation is most important when other opportunities have diminishing returns accompanied by rapid changes in technology, consumer economies, social values or political rules. When the use of planning systems is the strategic orientation, there is more pressure for the administrative domain to be operant. Commitment to Opportunity The entrepreneurial domainis pressured by the need for action and has a short time span in terms of opportunity commitment. The administrative domain (the ways mangers make decisions) is not only slow to act on an opportunity, but the commitment is usually for a longer time span. Commitment of Resources An entrepreneur is used to having resources committed at periodic intervals, often based on certain tasks or objectives being reached.In acquiring these resources the entrepreneur is forced to achieve significant milestones using very few resources. In the administrative domain, the commitment of resources is for the total amount needed. Administrative-oriented individuals receive personal rewards by effectively administering the resources under t heir control. Control of Resources The administrator is rewarded by effective resource administration and has a drive to own or accumulate as many resources as possible. The entrepreneur, under pressure of limited resources, strives to rent resources on an as-needed basis. Managerial Structure In the administrative domain, the organizational structure is formalized and hierarchical in nature.The entrepreneur employs a flat organizational structure with informal networks. CAUSES FOR RECENT INTEREST IN INTRAPRENEURSHIP  © Copyright Virtual University of Pakistan 15 Entrepreneurship—MGT602 VU Interest in intrapreneurship has resulted from events occurring on social, cultural, and business levels. There is an increasing interest in â€Å"doing your own thing. † Individuals frequently desire to create something of their own. They want responsibility and want more freedom in their organizations. Frustration can develop and result in the employee becoming less productive or leaving the organization. This has recently caused more discontent in structured organizations.When meaning is not provided within the organization, individuals often search for an institution, such as entrepreneurship, that will provide it. Intrapreneurship is one method for stimulating and capitalizing on those who think that something can be done differently and better, such as Xerox Corporation’s commitment to Xerox Technology Ventures. It is important to instill the intrapreneurial spirit in an organization in order to innovate and grow. In a large organization problems occur that thwart creativity and innovation. This growth and diversity that can result are critical, since large corporations are more efficient in a competitive market than are smaller firms.The resistance against flexibility, growth, and diversification can be overcome by developing a spirit of entrepreneurship, called Intrapreneurship, within the existing organization. There are social, cultural, and business pressures for Entrepreneurship. Hyper competition has forced U. S. companies to focus on new product development and increased productivity. Reductions in large corporation’s staff are being absorbed in the workforce, particularly in small businesses. Entrepreneurial endeavors consist of four key elements. 1. New business venturing refers to the creation of new business within an existing organization. 2. Organizational innovativeness refers to product and service innovation with an emphasis on development and innovation in technology. 3.Self-renewal reflects the transformation of organizations through the renewal of the key ideas on which they are built. 4. Proactiveness includes initiative and risk taking, as well as competitive aggressiveness KEY TERMS Administrative domain The ways managers make decisions Business plan The description of the future direction of the business Corporate culture The environment of a particular organization Entrepreneurial domain The ways entrepreneurs make decisions Entrepreneurial process The process through which a new venture is created by an entrepreneur Entrepreneurial culture The environment of an entrepreneurial-oriented organization Entrepreneurship  © Copyright Virtual University of Pakistan 16 Entrepreneurship—MGT602Entrepreneurship within an existing business organization Opportunity identification The process by which an entrepreneur comes up with the opportunity for a new venture Opportunity parameters Barriers to new product creation and development Top management commitment Managers in an organization strongly supporting Entrepreneurship Traditional managers Managers in a non-entrepreneurial-oriented organization Window of opportunity The time period available for creating the new venture VU  © Copyright Virtual University of Pakistan 17 Entrepreneurship—MGT602 VU THE ENTREPRENEURIAL AND INTRAPRENEURIAL MIND (continued†¦) Lesson 06 LEARNING OBJECTIVES 1. 2. 3. 4. 5. To expl ain the aspects of the entrepreneurial process. To explain the differences between entrepreneurial and managerial domains. To explain the organizational environment conducive for entrepreneurship. To identify the general characteristics of an entrepreneur. To explain the process of establishing entrepreneurship in an organization.CORPORATE VERSUS INTRAPRENEURIAL CULTURE Smaller, aggressive, entrepreneurial firms are developing more new products and becoming dominant in certain markets. Many companies are attempting to create the same spirit, culture, and rewards of entrepreneurship in their organizations. The typical corporate culture has a climate and reward system that favors conservative decision making. Emphasis is on gathering large amounts of data as the basis for a rational decision. Risky decisions are often postponed until hard facts are gathered or a consultant is hired. Often there are so many approvals required that no individual feels personally responsible for the proj ect. The guiding principles in a traditional corporate culture are: 1. 2. 3. 4. 5. 6.Follow instructions given Do not make mistakes Do not fail Do not take initiative Stay within your turf and protect your backside This restrictive environment is not conducive to creativity, flexibility, and risk taking The guiding principles of intrapreneurs Aspects of an Entrepreneurial culture are quite different: 1. 2. 3. 4. 5. Develop visions, goals, and action plans Be rewarded for actions taken Suggest, try, and experiment Create and develop Take responsibility and ownership There are differences in the norms of the two cultures. The traditional culture is hierarchical in nature, with established procedures, lines of authority, and control mechanisms. These support the present corporate culture, and do not encourage new venture creation.The culture of an intrapreneurial firm has a flat organizational structure with networking, teamwork, sponsors, and mentors. Close working relationships help establish an atmosphere or trust that facilitates accomplishment of visions. Individuals make suggestions across functional areas, resulting in cross-fertilization of ideas. The two cultures produce different types of individuals and management styles.  © Copyright Virtual University of Pakistan 18 Entrepreneurship—MGT602 VU Motivation Traditional managers are motivated primarily by promotion and typical corporate rewards. Entrepreneurs and intrapreneurs thrive on independence and the ability to create.Intrapreneurs expect their performance to be suitably rewarded. There are also time orientation differences. Managers emphasize the short run, entrepreneurs the long run, and intrapreneurs somewhere in between. Intrapreneurs use a midpoint mode between delegation of managers and direct involvement of entrepreneurs. Entrepreneurs and intrapreneurs are moderate risk takers; managers are much more cautious. Most entrepreneurs fail at least once, and Intrapreneurs learn to concea l risky projects from management until the last possible moment. Traditional managers tend to be most concerned about those at higher levels, entrepreneurs serve self and customers, and intrapreneurs add sponsors.CLIMATE FOR INTRAPRENEURSHIP In establishing an Intrapreneurial environment, certain factors and leadership characteristics need to be present. The first of these is that the organization operates on the frontiers of technology. Since research and development are key sources for new product ideas, the firm must operate on the cutting edge of technology and encourage and supporting new ideas instead of discouraging them. Second is experimentation, or trial and error, is encouraged. Successful new products usually do not appear fully developed; instead they evolve. A company wanting to establish an intrapreneurial spirit has to establish an environment that allows mistakes and failures.Without the opportunity to fail, few corporate intrapreneurial ventures will be developed. Third an organization should make sure that there are no initial opportunity parameters, such as turf protection, inhibiting creativity in new product development. Fourth, the resources of the firm need to be available and easily accessible. Often, insufficient funds are allocated not to creating something new but instead to solving a problem that have an immediate effect on the bottom line. Some companies, such as Xerox, 3M, and AT&T have established separate venture capital areas for funding new internal ventures. Fifth a multidisciplinary team approach needs to be encouraged.One key to Intrapreneurial success is the existence of â€Å"skunkworks† involving key people. Developing the needed team work for a new venture is further complicated by the fact that a team member’s promotion within the corporation is related to performance in the current position, not in the new venture. The corporate environment must establish a long time horizon for evaluating the success o f the overall program. Sixth the spirit of intrapreneurship cannot be forced on individuals; it must be voluntary. Most managers in a corporation are not capable of being successful intrapreneurs. Those who do emerge from this self selection process must be allowed the latitude to carry a project through to completion.An intrapreneur falls in love with the new venture and will do almost anything to ensure its success. The seventh characteristic is a reward system. The intrapreneur needs to be appropriately rewarded for the energy and effort expended on the new venture. An equity position in the new venture is one of the best motivational methods. Eight a corporate environment favorable for intrapreneurship has sponsors and champions throughout the organization that supports the creative activity and resulting failures. Finally the intrapreneurial activity must be whole-heartedly supported by top management.  © Copyright Virtual University of Pakistan 19 Entrepreneurship—MGT 602 VUTHE ENTREPRENEURIAL AND INTRAPRENEURIAL MIND (continued†¦) Lesson 07 LEARNING OBJECTIVES 1. 2. 3. 4. 5. To explain the aspects of the entrepreneurial process. To explain the differences between entrepreneurial and managerial domains. To explain the organizational environment conducive for entrepreneurship. To identify the general characteristics of an Entrepreneur. To explain the process of establishing entrepreneurship in an organization. INTRAPRENEURIAL LEADERSHIP CHARACTERISTICS There are certain individual characteristics needed for a person to be successful Entrepreneurs, including: 1. Understanding the environment 2. Being visionary and flexible 3. Creating management options 4.Encourage teamwork while employing a multi-disciplined approach 5. Encouraging open discussion 6. Building a coalition of supporters, and persisting An Entrepreneur needs to understand all aspects of the environment. Part of this ability is reflected in individual’s level of creativity . Creativity tends to decrease with age and education. The individual must be creative and have a broad understanding of the internal and external environments of the corporation. The intrapreneurial person must be a visionary leader-a person who dreams great dreams. Leadership is the ability to dream great things and communicate them in a way that people say yes to being a part of the dream.To establish a successful new venture, the intrapreneurial leader must have a dream and overcome all obstacles to achieve it. The third necessary characteristic is that the intrapreneur must be flexible and create management options. An intrapreneur is open to and encourages change. By challenging the beliefs and assumptions of the corporation, an intrapreneur can create something new in the organization structure. He or she must possess the ability to encourage teamwork and use a multi-disciplined approach. Every new company formation requires a broad range of business skills. The intrapreneur must be a good diplomat to minimize disruption. Open discussion must be encouraged to develop a good team for creating something new.Many corporate managers have forgotten that frank, open discussion is part of the learning process. A successful venture can be formed only when the team feels the freedom to disagree and to critique an idea. The degree of openness among the team depends on the degree of openness of the intrapreneur. Openness leads to a strong coalition of supporters and encouragers. The intrapreneur must encourage each team member, particularly during hard times. A good intrapreneur makes everyone a hero. Only through persistence will a new venture be created and successful commercialization result. ESTABLISHING INTRAPRENEURSHIP IN THE ORGANIZATION To establish an intrapreneurial environment, the organization must implement a procedure.This can be done internally, but it is easier to use an outsider to facilitate the process. This is particularly true when the environ ment is very traditional. There are some steps involved in it. Step 1: The first step is to secure a commitment to intrapreneurship in the organization by top, upper, and middle management. Without top management commitment, the organization will never be able to make the necessary changes. Once top management has committed to intrapreneurship for a sufficient length of time, the concept is introduced throughout the organization. This is effectively accomplished through seminars. General guidelines need to be  © Copyright Virtual University of Pakistan 20 Entrepreneurship—MGT602 VU stablished for intrapreneurial venture development. Next, intrapreneurial leaders need to be identified, selected, and trained. Step 2: Ideas and general interest areas should be identified, along with the amount of risk money that is available. The overall expectations and target results should be established, specifying time frame, profitability requirements, and impact of the organization. A m entor/sponsor system needs to be established. Step 3: A company needs to use technology to make itself faster and more flexible. Technology has allowed small companies to act like they are big ones. Large companies can use technology to make them responsive and flexible.Step 4: The organization can use a group of managers to train and share their experiences with other members. These sessions should be conducted one day per month for a specified period of time. Information about intrapreneurship and about the company’s specific activities should be well publicized. Step 5: The organization needs to develop ways to get closer to its customers by tapping the data base, hiring from smaller rivals, and helping the retailer. Step 6: An organization must learn to be more productive with fewer resources. With middle management cutbacks, more control has been given to lower levels of the organization. The span of control should be increased. Step 7: The organization needs to establis h a strong support structure.Because they do not immediately affect the bottom line, intrapreneurial activities can be overlooked and receive little funding. These ventures require flexible, innovative behavior, with the intrapreneurs having total authority over expenditures and access to funds. Step 8: The support must involve trying the rewards to the performance of the intrapreneurial unit. This encourages team members to work harder and compete more effectively. The equity portion of the compensation is particularly difficult to handle. Step 9: The organization needs to implement an evaluation system that allows successful units to expand and unsuccessful ones to be eliminated.PROBLEMS AND SUCCESSFUL EFFORTS Intrapreneurship, also called corporate venturing, is not without problems. One study found that new ventures started within a corporation performed worse than those started independently. Independent start-ups tend to outperform corporate start-ups. There are many examples of companies that have successfully implemented intrapreneurship. 3M allows employees to devote 15 percent of their time to independent projects. After failing to recognize the potential of Wozniak’s personal computer, Hewlett-Packard has taken steps to take advantage of future opportunities. Even IBM has developed the independent business unit concept. The problems of ntrapreneurship are not insurmountable, and the concept can lead to new products, growth and the development of an entirely new corporate environment and culture.  © Copyright Virtual University of Pakistan 21 Entrepreneurship—MGT602 THE INDIVIDUAL ENTREPRENEUR Lesson 08 LEARNING OBJECTIV ES 1. To identify some key entrepreneurial feelings and motivations. 2. To identify key elements in an entrepreneur’s background. 3. To discuss the importance of role models and support systems. 4. To identify the similarities and differences between male and female entrepreneurs. 5. To explain the differences between inventors and entrepreneurs. VU ENTREPR E NEURIAL FEELINGS There is no â€Å"true entrepreneurial profile†- entrepreneurs come from many educational backgrounds, family situations, and work experiences.A potential entrepreneur may presently be a nurse, secretary, assembly line worker, sales person, mechanic, home maker, manager or engineer. A potential entrepreneur can be male or female and of any race or nationality. Locus of Control One concern people have when forming is whether they will be able to sustain the drive and energy required to form something new and to manage the new enterprise and make it grow. While research results are inconsistent, internal control seems to be a characteristic of entrepreneurs. Internal beliefs appear to differentiate entrepreneurs from the general public, but not from managers. Managers and entrepreneurs both have an internality tendency. Feelings about Independence and Need for Achievement.The entrepreneur also has the need for i ndependence, to do things in his or her own way and time. Another controversial characteristic is the entrepreneur’s need for achievement. McClelland specified three attributes as characteristics of entrepreneurs: 1. Individual responsibility for solving problems and setting and achieving goals. 2. Moderate risk taking as a function of skill. 3. Knowledge of results of decision/task accomplishment. McClelland concluded that a high need for achievement leads individuals to engage in entrepreneurial behavior, although other studies have been inconsistent. Risk Taking Risk taking seems a part of the entrepreneurial process.However, it has not yet been empirically established whether risk-taking is a distinguishing characteristics of entrepreneurs. ENTREPR E NEURIAL BACKGRO UND AND CHARACT E RIST ICS Only a few background characteristics have differentiated the entrepreneur from the general populace or managers. Childhood Family Environment The impact of birth order and social st atus has had conflicting research results. There is strong evidence that entrepreneurs, both male and female, tend to have self-employed or entrepreneurial fathers. Having a father who is self-employed provides a strong inspiration in the example of independence and flexibility of self-employment.This feeling of independence is often further enforced by an entrepreneurial mother. The overall parental  © Copyright Virtual University of Pakistan 22 Entrepreneurship—MGT602 VU relationship may be the most important aspect of the childhood environment in establishing the desirability of entrepreneurial activity. Parents of entrepreneurs need to be supportive and encourage independence, achievement, and responsibility. This supportive relationship appears to be most important for females. Female entrepreneurs tend to grow up in middle- to upper-class environments, where families are child-centered, and are similar to their fathers in personality.KEY TERMS Departure points The act ivities occurring when the venture is started Inventor An individual who creates something new Locus of control An attribute indicating the sense of control that a person has over life Moral-support network Individuals who give psychological support to an entrepreneur Entrepreneurship – MGT602 VU  © Copyright Virtual University of Pakistan 23 Entrepreneurship—MGT602 VU THE INDIVIDUAL ENTREPRENEUR (continued†¦) Lesson 09 LEARNING OBJECTIVES 1. To identify some key entrepreneurial feelings and motivations. 2. To identify key elements in an entrepreneur’s background. 3. To discuss the importance of role models and support systems. 4. To identify the similarities and differences between male and female entrepreneurs. 5. To explain the differences between inventors and entrepreneurs.ENTREPRENEURIAL BACKGROUND AND CHARACTERISTICS Education Education appears important in the upbringing of the entrepreneur, in the level of education obtained and in playing a majo r role in coping with problems. Although formal education is not necessary for starting a new business, it does provide a good background. In education, female entrepreneurs previously experienced some disadvantage, with few having degrees in engineering, science, or math. The ability to deal with people and communicate clearly in written and spoken work is also important. Personal Values Studies have failed to indicate that entrepreneurs can be differentiated on personal valued from managers, unsuccessful entrepreneurs, or the general public. Leadership, support, aggression, benevolence, conformity, creativity, veracity, and resource seeking may also be important.A successful entrepreneur is frequently characterized as a winner; winning may be a prerequisite for his or her actually becoming one. Age Entrepreneurial age is the age of the entrepreneur reflected in the experience. Entrepreneurial experience is one of the best predictors of success. In chronological age, most entrepren eurs start their careers between ages 22 and 55. Earlier starts in an entrepreneurial career seem to be better than later ones. Generally, male entrepreneurs start their first venture in their early 30s, while women tend to do so in their middle 30s. Work History Dissatisfaction with one’s job often motivates the launching of a new venture. Previous technical and industry experience is also important once the decision to start a business is made.Experience in the following areas is particularly important: financing; product or service development; manufacturing; development of distribution channels; and preparation of a marketing plan. As the venture becomes established, managerial experience and skills become more important. Entrepreneurial experience becomes increasingly important as the complexity of the venture increases. MOTIVATION While motivations may vary, the reason cited most often for becoming an entrepreneur independence-not wants to work for anyone else. Other mo tivating factors differ between male and female entrepreneurs. Money is the second reason for men’s starting a venture. Job satisfaction, achievement, opportunity, and money are the second order reasons for women.  © Copyright Virtual University of Pakistan 24 Entrepreneurship—MGT602 VUKEY TERMS Motivations That causes people to do something Need for achievement An individual’s need to be recognized Need for independence. Being one’s own boss-one of the strongest needs of an entrepreneur Professional-support network Individuals who help the entrepreneur in business activities Role models Individuals influencing an entrepreneur’s career choice and style Social status The level at which an individual in viewed by society Work history The past work experiences of an individual  © Copyright Virtual University of Pakistan 25 Entrepreneurship—MGT602 VU THE INDIVIDUAL ENTREPRENEUR (continued†¦) Lesson 10 LEARNING OBJECTIVES 1. To identify some key entrepreneurial feelings and motivations. 2.To identify key elements in an entrepreneur’s background. 3. To discuss the importance of role models and support systems. 4. To identify the similarities and differences between male and female entrepreneurs. 5. To explain the differences between inventors and entrepreneurs. ROLE MODELS AND SUPPORT SYSTEMS One of the most important factors influencing entrepreneurs in their career choice is role models. Role models can be parents, relatives, or successful entrepreneurs in the community. Role models can also serve in a supportive capacity as mentors during and after the new venture is launched. This support system is most crucial during the start-up phase.It is important that an entrepreneur establish connections to support resources early in the venture formation process. As contacts expand they form a network with density (extensiveness of ties between two individuals) and centrality (the total distance of the entrepreneu r to all other individuals. ) The strength of ties between the entrepreneur and any individual is dependent on the frequency, level, and reciprocity of the relationship. An informal network for moral and professional support benefits the entrepreneur. Moral-Support Network It is important for the entrepreneur to establish a moral support network of family and friends. Most entrepreneurs indicate that their spouses are their biggest supporters.Friends can provide advice that is more honest than that received from others, plus encouragement, understanding, and assistance. Relatives can also be sources of moral support, particularly if they are also entrepreneurs. Professional-Support Network The entrepreneur also needs advice and counsel, which can be obtained from members of a professional support network. A mentor-protege relationship is an excellent way to secure the needed professional advice. The mentor is a coach, sounding board, and advocate. The individual selected needs to be an expert in the field. An entrepreneur can initiate the â€Å"mentor-finding process† by identifying and contacting a number of experts.The mentor should be periodically apprised of the progress of the business so that a relationship can gradually develop. Another source of advice is a network of business associates. Self-employed individuals who have experience in starting a business are good sources. Clients and buyers are also important as they provide word-of-mouth advertising. Suppliers are good components of the professional-support network-they help to establish credibility with creditors and customers, and provide good information on trends in the industry. Trade associations are good network additions, as they keep up with new developments and can provide overall industry data. Affiliations ith individuals developed in hobbies, sporting events, civic involvements and school alumni groups are excellent sources of referrals, advice, and information. Each entrepreneur needs to establish both a moral- and a professional-support network to share problems with and gain overall support. MALE VERSUS FEMALE ENTREPRENEURS Women are now starting new ventures at three times the rate of men. Women form over 70  © Copyright Virtual University of Pakistan 26 Entrepreneurship—MGT602 VU percent of all new businesses. Women now own over 8. 5 million small businesses, an increase of over 45 percent since 1990. In some respects female entrepreneurs possess very different motivations, business skills, and occupational backgrounds.Factors in the start-up process for male and female entrepreneurs are different, especially in such areas as support systems, sources of funds, and problems. Men are motivated by the drive to control their own destinies. Women tend to be more motivated by the need for achievement arising from job frustration. Departure points and reasons for starting the business are similar for both men and women. Both generally have a strong i nterest and experience in the area of their venture. For men, the transition to a new venture is easier when the venture is an outgrowth of a present job. Women often leave a previous occupation with a high level of frustration and enthusiasm for the new venture rather than experience.Start-Up Financing Males often have investors, bank loans, or personal loans in addition to personal funds as sources of startup capital. Women usually rely solely on personal assets or savings. Obtaining financing and lines of credit are major problems for women. Occupations Both groups tend to have experience in the field of their ventures. Men more often have experience in manufacturing, finance, or technical areas. Most women usually have administrative experience, often in service-related fields. Personality Both men and women tend to be energetic, goal-oriented, and independent. Men are often more confident and less flexible and tolerant than women. Backgrounds The backgrounds of male and female entrepreneurs tend to be similar.Women are little older when they embark on their careers. Men often have studied in technical- or business-related areas, while women tend to have liberal arts education. Many women busi