stages and tools carried out when evaluating a new business idea Entrepreneurship is a business concept that is defined as the process of launching, designing and running a new business. The individuals who are referred to as entrepreneurs are the ones who exploit and get new business ideas and implement them for growth. In the view of economic development, entrepreneurship has played a significant role in the economic growth of the countries in the world. Entrepreneurship has contributed to the creation of employment for the young generation, an increase in the income per capita, improved standard of living and improvement of government revenue (Morrison et al., 2000). These are factors of entrepreneurship that have contributed to the economic growth of the world. The report will, therefore, discuss the concept of entrepreneurship, intrapreneurship and enterprise. Also, the report will discuss the skills, behaviours and attributes that are needed for entrepreneurs to become successful. The paper will also mention the stages and tools carried out when evaluating a new business idea. Recommendations will also be provided that are needed by the entrepreneurs.…
Change Management Methodologies Change management methodologies are useful tools that help organizations to adjust to the continually changing business environments. An organization would only maintain its competitive position in the market if it successfully adopts the latest strategies that are crucial to its growth. Effective change management suffices as the only sure way of implementing these strategies. There are several change management methodologies that organizations use to adopt new business strategies in their sectors. Of primary interest to this paper are three methods: Kotter’s Eight-Step process of change, the PROSCI or ADKAR Model, and the Accelerating Implementation Methodology (AIM) Model of change. Though all these models are applied in change management, they are suited for specific scenarios and projects, as seen in this paper. Kotter’s Eight-Step Model, for instance, is well suited for significant transformational changes, that primarily depend on the input of the leadership team, rather than the considerable support of other stakeholders. Depicting change management as a linear process, as stated in the methodology, could become challenging when applied in a real-life business case. Therefore, there is a…
What is Traxxa’s stability management? The Traxxas Stability Management (TSM) permits you to experience the power and speed of your Traxxas model by making it controllable on slippery surfaces such as on smooth concrete, ice and snow, and on the loose dirt. Punching all it gets off the line and TSM senses the direction to which the vehicle is moving, making the steering correction to provide acceleration without fishtailing, spinning out, and loss of control. Traxxas Stability Management also works while cornering, thus making corrections to keep on your line, and allowing you to hammer the throttle earlier while turning in much faster exit speed. Braking is drastically improved as TSM works to keep you straight till you come to complete and stop. Traxxas TSM supplies electronic stability without intruding on your driving fun or introducing unexpected side effects that could be found on other systems like drastically reduced turning radius, overall disconnected driving feel, throttle restriction, and braking assistance that times out. The Traxxas engineers developed the tuning algorithms that run on high speed to create a system that…
Chanel Microenvironment Microenvironments are those forces or factors that affect the organization internally hence making it difficult for the organization to serve the customers. Chanel is affected by some of the microenvironments, which makes it difficult for it to deliver to some of the customers (Kotler, Burton, Deans, Brown & Armstrong, 2013). Some of the factors include: Competitors Chanel is affected by the fact that it has some of the competitors who come with the same product. Chanel perfumes and handbags are mostly sold all over the world. But the company faces threats from some of the companies such as Versace, Dior perfume and Guerlain. In this case, the company ought to come up with some of the strategies that will help it compete with the rest of the competitors (Kotler, Burton, Deans, Brown & Armstrong, 2013). The first thing that needs to be cosnidr4d by the company is to ensure that they come up with products that satisfy the customers. Once they come with products that are of quality, unlike those offered by their competitors, then it will be…
The Freedom of Expression and its Impact on Media in the US It is worth noting that freedom of expression gives exclusive rights as well as duties to the media. In the United States, the media plays a tremendous role in informing society, especially on matters of public interest and also generates a significant platform for public debate, scrutiny as well as reflection (Gwinn Wilkins, 2000). As such, independent media and what is described as quality journalism are seen as the ‘watchdog’ of a democratic society in America. The freedom of expression in the country has been identified as a foundation for plurality in information. It is proper to note that for a couple of years, it has been said that the concentration of media ownership happens to be one of the biggest threats when it comes to pluralism, including the diversity of information. In this case, it becomes significant to realize that the freedom of expression in the United States is closely related to what can best be identified as the problem of concentration of ownership. As far as…
Discussion Post: Features of Excel that makes the software such an important and popular tool for business professionals are Work Scheduling: This feature is essential in the performance of operations with the excel software. They are automatically updated in case of changes in the tasks schedule. They are color-coded, which makes it easy for the user to identify any update made. The other feature that makes excel relevant for accounting tasks is the presence of financial elements. These features include: Basic Financial Accounting Tracking Product Sales: This is a program that makes it easy for business people to easily follow and track the sale of commodities in a venture. This, therefore, helps entrepreneurs to efficiently make plans which are capable of enhancing sales within the market. Through complete product track maintenance, business people get an idea of the achievement as well as necessary improvement for the attainment of the target goals by the venture through analysis of low and highs trends in sales. The use of regression analysis can help the accounting officer to establish a tread line and predict…
signs and symptom and the characteristics of the inheritance of hemoglobin disorders A body function of a human being is affected by many factors. One of the factors is the hemoglobin disorders. The hemoglobin is a protein that helps the blood to transport oxygen to various body parts within the body. The hemoglobin disorders will affect the ability of the red blood cells to carry oxygen in the body. Such a situation is caused if the hemoglobin does not form correctly or if one’s body is unable to develop enough hemoglobin. Such condition is also majorly associated with the families’ history. This means the disorder can be passed from the parent to the newborn via the genetic factor. In this paper, I will discuss the signs and symptom and the characteristics of the inheritance of this disease. Genes are critical in one’s body as it keeps the instructions in the way in which one’s body grows and works. Nowadays, many countries have been carrying test for newborn babies to establish the presence of certain inheritance disorders. Though the statistics have…
Discussion: Effects of Political, Economic and Legal Systems on Economic Growth Several factors influence economic development in a given nation as well as in the world. For growth in the economy to be achieved, all these factors must interact together within the society. It is worth noting that every element has an impact on the rate and level of economic growth. This discussion will thus restrict itself in three major factors that affect development in a society which include political, legal and financial system itself. First, business is only possible in a peaceful environment. Politics existing within a given state or among trading nation affect how commercial activities are done (Autio & Fu, 2015). A peaceful society attracts investors while chaos sends away them. This is because of the apparent reasons for safety. The legal system is another major issue affecting how business and hence economic development. It affects economic growth in the following ways; corruption protection, property rights policies, setting obligations to be met, as well as control of the government on investors (Autio & Fu, 2015). These legal…
Conflicts Conflict is mostly assumed to be negative. Astoundingly, conflict can have a positive influence on an organization (Eilerman, 2006). It is important to understand the types of conflict and how to address it. Functional conflict denotes healthy, productive disagreement between individuals or a group. For example, a business person may disagree with the community about a project, but they work through an understanding that leaves everyone satisfied (Pfajfar et al., 2019, p. 8). In contrast, dysfunctional conflict occurs when unhealthy disagreements arise between individuals or groups. For instance, a director of a company may use threats or deception to force a community to agree to the construction of a power plant in the area (Pfajfar et al., 2019, p. 10). People often avoid conflict because they assume it will have negative consequences. For example, individuals are afraid of negative emotions such as hurting another person or being hurt, fear of rejection, and also not having confidence in one’s opinions. Conflict avoidance does not resolve the problem but rather escalates it. When an issue is not addressed, it eventually reoccurs,…
News Media Analysis News media plays an integral role in dispatching information about the current affairs of a country or the world in general. News media shapes public opinion on what is true or not. However, it is critical to realize that the flow of new information is relatively bulky, which makes it hard to counterproof and check validity. Furthermore, some stories are philosophical, meaning they do not meet practical ways of affirming, whether it is true or not. With this in mind, I will analyze Aljazeera and explain how it has changed the perception of my own life and politics. News media affects the perspective of the public by shaping their opinion over what is true or not in current affairs (Kepplinger, 2012). Most people are either ignorant or just plain lazy to counter check facts about matters that they see in the news. There is a general assumption that whatever the media provides has been validated as truth. However, this assumption is false because there are some news media that are biased or misinformed. Furthermore, others are used…