ENTREPRENEURSHIP IN THE PUBLIC AND PRIVATE SECTORS Essay

ENTREPRENEURSHIP IN THE PUBLIC AND PRIVATE SECTORS - Essay Example They are therefore coming up with new models and innovations to solve health issues, social problems, conflicts, and environmental concerns such as global warming with principles which may not or may directly involve setting up an enterprise for trading. I will therefore highlight the main concepts and approaches that may be used in the development of entrepreneurship within non-profit and in profit making organisations. I will also outline the challenges, risks and opportunities that the healthcare sector (voluntary and profit-making organisations) in the UK experience when adopting these entrepreneurship skills citing an example of the Royal College of Nursing. Its goals and objectives as it strive to enable students to gather enough knowledge on entrepreneurship (RCN Entrepreneurship team report, March 2007). Finally, I will discuss in detail how entrepreneurship concepts can be applied in day to day running and development of business globally. In a layman's language, entrepreneurship is the starting in of a new business either existing or a totally new innovation (Berger, 1991). The history of entrepreneurship dates back to 1950 when a lecturer at the Austrian school of Economics Joseph Schumpeter developed the idea and defined an entrepreneur as a person who turns an invented idea into a meaningful business by pioneering change through actions. The common definition of entrepreneurship is the practice of developing new businesses in response to an identified opportunity within a specific sector. Entrepreneurship is a difficult adventure that is usually characterised by massive investments, employment of skills, research and capital. Schumpeter also argues that entrepreneurship entails any principle that advocates for risks undertaking for the sake of gaining a profitable advantage. This means that opportunities are discovered, exploited and practiced with a view to engage in a business venture that is more likely to gain a market share from the existing types (Bhide, 2000). It can also be viewed as the development of new products, production methods, entering new markets or forming new organisations. Characteristics of an entrepreneur (Berger, 1991) He has to have a driving force for the business. He is very enthusiastic in nature and vision-wise. A quick decision maker and a positive thinker. Translates his vision into a success. A strong persuader who seeks to have other people on board. Has very high aptitude. It is not usually easy to develop an enterprise and as quoted by Dr. Stacy of the Harvard School of business economics, it takes a lot more analysis and considerations from the undertaker of entrepreneurship process (Reinhardt, 2000). She also suggests that, the main stages that are commonly applied in the profit-making and non-profit organisations would be classified according to the ability of the business to quickly catch up with the current business momentum most importantly form the inventor himself. The first stage of development is the inception stage which first starts as an imagination from the entrepreneur in that opportunities are identified, studied and defined. The concept of the business idea responds directly to the defined purpose and need. At this stage, issues of capital, partners and viability of the business are looked into. The entrepreneur at this stage is keen on getting policies,

Cis 331 discussion wwek 2 Essay Example | Topics and Well Written Essays - 250 words

Cis 331 discussion wwek 2 - Essay Example This week I would like you to choose a problem (make it simple) and discuss how you would go through the problem solving process to solve this problem. Be sure to discuss whether you would use convergent or divergent thinking. In the IT world we come up against the outsourcing problem on a regular basis.   For me it happened when we had some network security hardware that was coming to the end of its life and we had to decide whether to replace the existing hardware or to outsource the function that the security hardware was performing.   For us, this was more of a convergent discussion than a divergent discussion.   We could have brainstormed different ways to accomplish the security function that the hardware was providing but we didnt have the resources to implement any of the ideas that would have been discussed.   With that out of the way, we decided to work towards finding a solution. After discussing the problem,  we thought it would really come down to a financial decision of whether or not outsourcing the function was more cost effective than purchasing new hardware.   The first step in the process was to gather the facts.   We got quotes for the new hardware and defined what the resource costs were to implement and maintain that hardware.   Then we obtained a list of vendors that provided outsourcing solutions.   We documented everything that we use the current solution for and identified a list of requirements that would be used to evaluate each vendor.   For those vendors that met the list of requirements, we obtained quotes for what it would cost to outsource the security function. Once we had the tangible costs identified  someone suggested that we then make a list of the intangible costs related to both keeping the security function in house vs. outsourcing.   That is one area that I think sometimes gets overlooked in these types of problem solving initiatives.   Because so much focus is put on hard and fast

Lg Group Developing Tomorrows Global Leaders Management Essay

Lg Group Developing Tomorrows Global Leaders Management Essay Based on the basic management philosophy of: Competition from a global perspective Pursuit of best value for customer, employees and shareholders Become the worlds best business group through management by principle And contribute to social development as a good corporate citizen, Bon Moo Koo as a chairman of the LG Group, one of the three largest Korean chaebols, announced LEAP 2005 as vision of the future. It has a goal of increasing revenue to US$380 billion by 2005 with 50% coming from international sales. Leap 2005 centered on employees and this new vision would lead LG to develop the most rewarding workplace for employees. Mr. Y.K. Kim as the head of the LG Human Resource (HR) team was charged with the task of identifying and developing high potential individual and the global leaders that LG would need in the future. He worked closely with Dr. Michael Lee, Managing director of LG Academy (LGA). They estimated that LG would need approximately 1,400 new global leaders by 2005 with about half would be Korean and the rest would be non-Korean. By 1987, LG had businesses and industries in chemicals, communications, energy, electronics, finance, insurance, machinery, metals, sports and trade. Even though LG was strong in Korea, it was not an international technology or quality leader in any of its business segments, especially relative to world-class foreign competitors. A new corporate identity program was launched in 1995, Lucky-Goldstar Group officially changed its name to the LG Group. The logo was designed to symbolize five key concepts: The world, The Future, Youth, Humans and Technology. Top management and HR team needed to create global working environments that include both Korean and non-Korean leaders in order to achieve the objectives of Leap 2005. Strategic analysis using 7s framework Strategy: Low cost strategy (1947 1987) Focused on competing through low cost manufacturing but also strongly emphasized high production volumes Under pricing competitors with products of acceptable, although not superior, quality It established Lucky-Goldstar brand as a low cost and acceptable quality products manufacturer Value strategy (1987 1995) Korean consumers were increasingly aware of and demanding higher quality products because of the standard of living increased the ability to afford higher quality products and services Korean government began to relax trade barriers that made it easier for foreign companies to compete with LG in Korea The cost competitiveness of Korean began to slip Strategic orientation of LEAP 2005 Focused on strategic markets that expected with economic growth and size, also the extent of business opportunity in that market Technological revolution through innovation to be produced faster or more cost efficiently Investment for the greatest possible return Customer satisfaction as a key measure of success Structure: Centralized decision making and a top-down management process In 1987, LGs various affiliated companies were divided into 21Cultural Units consists of multiple Strategic Business Unit (SBUs) Systems: Departments were separated and sequentially handing off projects from product research to product design to engineering to manufacturing to marketing to sales Managers had to develop a new perspective on time based competition thus speed had to be a central value that permeated the groups culture Shared Values: Focused on valuing employees and contributing to social development through good corporate citizenship In 1987, focused on creating customer value Valuable components from old culture: stability, harmony and respect Established and reinforce four new cultural elements: challenge, speed, simplicity and boundarylessness Style: In 1980s, the new management approach management by self-control for greater decision making autonomy Cultural value of respect, translated into a top down management style and emphasis on hierarchy Leap 2005 required LG to change course to a global setting, leadership development emerged as one of the biggest challenges Staff: Managers focused on producing high volumes and getting per unit as low as possible rather than finding out what customer wanted, developing high quality products or expanding marketing capabilities. SBU heads were given full profit and loss responsibility for their units Within SBUs, middle managers were charged with reviewing and reengineering business processes to ensure efficiency and effectiveness Cultural Unit presidents focused on integration and coordination across SBUs Need more global leaders because LG had a domestic orientation in the past included both Korean and non-Korean People from different disciplines and geographies increasingly needed to work together to analyze problems and figure out solutions Skills: Many managers were lack experience with decision autonomy Need hundred of world class managers to achieve its target with more sophisticated knowledge in finance Recommendations: Characteristics of the human organization that would help LG achieve Chairman Koos LEAP2005 vision of the future First, HR should be held responsible for defining an organizational structure. It should identify the model of the companys way of doing business. The well known 7s framework distinguishes seven components in a companys architecture. LG Human resources Team should also used a change model to guide a transformation process at the company began by asking Who, Why, What and How. This model helps an organization identify the key success factors for change and assess the organizations strengths and weaknesses regarding each factor. As change agent, HR professionals do not themselves execute change, but they make sure that it is carried out. The hardest and most important challenge facing LG in that era was changing their culture. In helping to bring about a new culture, HR must follow a four steps process: It must define and clarify the concept of culture change It must articulate why culture change is central to business success It must define a process for assessing the current culture and the desired new culture, as well as for measuring the gap between the two It must identify alternative approaches to creating culture change HR strategies, policies, programs or practices translating the Chairmans vision into reality Key needed capabilities of LGs future global leaders Managers had to change their mindset from flawlessly executing orders to determining strategic direction Managers are required to have a clear idea of what customer needs, values and preferences World class managers that have capabilities for success and growth strategies LG needed a cadre of managers with more sophisticated knowledge of finance To challenge and think differently and to come up with breakthrough innovations Globalization: they must be more literate in the ways of international customers, commerce, and competition than ever before therefore LG should increase their ability to learn and collaborate and to manage diversity, complexity and ambiguity. Profitability through growth: they must also become more focus, more in touch with the fast changing and disparate needs of their customers. Technology: the challenge for managers is to make sense and good use of what technology offers. They will need to figure out how to make technology a viable, productive part of the work setting. Intellectual Capital: The challenge for organizations is making sure they have the capability to find, assimilate, develop, compensate and retain such talented individuals. Change, change and more change: LG must be able to learn rapidly and continuosly, innovate ceaselessly, and take on new strategic imperatives faster and more comfortably How to identify, attract, select and hire, train and develop, motivate, appraise and reward to perform at peak level, and retain the global leaders with the needed competencies and capabilities? The establishment of a development strategy is an important first step in the recruiting process. The second is achieving a fit between it and the rewards that an organization offers. A good fit must exist in in order to attract and motivate effective performance. The issue that needs to be considered when recruiting individuals relates to their motivation to perform. Attracting and recruiting the right talent is a critical part of managing human capital and an integral element of the designing process in organizations. Companies are starting to evaluate their employees not only by objectives but also by the competencies they develop. One possible procedure is what is known as the balanced scorecard. Under this procedure indices of competencies are added to indices of results, and a weighted average is calculated to obtain a final index, which tends to be tied to variable pay. Every company must decide what competencies it needs to develop in its managers in order to achieve its specific goals. The competency profile it chooses is a clear and precise expression of the culture it wants to promote, and can therefore be used as a tool for cultural change. Core competence of the corporation Collective learning in the organization, especially how to coordinate diverse production skills and integrate multiple streams of technologies Harmonizing streams of technology, organizing work, and delivering value Complex harmonization of individual technologies and production skills Could the team take the same approach with the Korean and non-Korean managers? Yes, as long as managers have some strategic competency as follows: business vision, problem solving, resources management, customer orientation, effective networking and negotiation. And also leadership capacity with following basic competencies: communication, organization, empathy, delegation, coaching and teamwork. Questions: What do you consider as the desired characteristics of the human organization that would help LG achieve Chairman Koos LEAP2005 vision of the future? If you were a member of Mr. Y.K Kims LG Human Resources Team, what HR strategies, policies, programs or practices would you recommend to translate the Chairmans vision into reality? What were the key needed capabilities of LGs future global leaders? How would you identify, attract, select and hire, train and develop, motivate, appraise and reward to perform at peak level, and retain the global leaders with the needed competencies and capabilities? Could the team take the same approach with the Korean and non-Korean managers?

The Great Gatsby :: essays research papers

In today society, many people like to follow the current. They want to catch the wave. Which mean, it does not matter if things were good or bad, right or wrong, they just follow and do them without any thinking. Therefore, there are not too many people would like to be a normal, thoughtful nor neutral person. However, in the novel, The Great Gatsby, by Scott Fitzgerald, one of the character name is Nike Carroway, he was the good and neutral narrator. It was because, in the novel, he analyzed all of the things with regard to accuracy of observation. In The Great Gatsby, when Mr.Gatsby told Vick he wantedto return the past over again with his lover- Daisy, Nike Carroway warned him to give it up, because it was impossible. Unforturately, Mr.Gatsby was not believe it. So at the end, Mr.Gatsby's dream still had not came true because Daisy did not break up with Tom and go with him. It can be seen in the last chapter on the novel, when Gatsby was murder, Daisy went to somewhere else with her husband, and did not go to Gatsby's funeray. I called up Daisy half an hour after we found him, called her instinctively and without hersitation. But she and Tom had gone away early that afternoon, and taken baggage with them. Therefore, Nike Carroway's analysis was right by these clear observation. However, Nike Carroway is a good narrator, he sees everything happen and does not trust everybody easily. So during the people discuss about something at a time, he does not believe it is true. After he proves it, he will accept the truth. Moreover, when Nike went to Gatsby's party, there is a drunk lady telling everyone Gatsby killed a man before. Somebody told me they thought he killed a man once. Also, there is one more lady said that Gatsby was a German spy: It is more that he was a German spy during the war. Nike heard it, but when Nike had a chance to have a lunch with Gatsby, he told Nike, he was an Oxford man and show him that fought in World War One. Then Nike knew Gatsby was not a German Spy nor a murderer. Furthermore, at the end of the novel, when Daisy drove Gatsby's car and killed Mrs.Wilson in a car accident, Nike's first though Gatsby killed Mrs.Wilson. But after Gatsby told him all of the things at that moment, then Nike was thinking and discuss between Gatsby and Tom's speaking, and make his own conclusion.

Globalization and Youth Essay

Globalization and Culture mean different things to different people and the emerging generation will shape the future of both. There has been cultural implications are central to understanding human side of globalization in youth culture as a whole. Youth are important but the society does not realize this because they are paying attention to more the cultural side of the problem. No longer is it a question of whether globalization is having an impact on all aspects of human life; the more pressing question being asked today is what that impact entails. The core goal is to explore the situated effects of the era in which we are living now on the global and local cultures of young people† according to Jacqueline Kennelly. The youth have come to represent both the moral decline of eroding social fabric and the hope for a new and creative response to challenging times in which global youth cultures have responded to that incorporates the limits and possibilities of the contemporary era. There have been many laws that have made children and the youth enter into the market in ways they should not. The implications of this situation is that young people are now required to turn inward- to themselves and in some cases their families in order to respond to enormous uncertainties and risk associated with modern life. Youth studies appear to have increased on how we need to represent local youth identities and social practices within international, transnational or global contexts. This challenge is repeated across many different types of study and worked through in a variety ways. There is a common thread that will help young people’s identities and lives today must or should be understood with reference to global phenomena and frameworks and in terms of how they can negotiate and are formed in the intersection of local and global contexts. People are beginning to question about youth identities today, one of the key problems is that young people do not realize the gains and losses these youth are facing in the local and global comparison. Many of these studies have realized that youth research examines the impact of globalization on the youth experience and identity and in various ways engages with the local and global dualism as conceptual frameworks that have been studied throughout the years. These studies show more of strengths than weaknesses due to the global levels in focus with the local, national and global levels. The youth have been studied for many years which mean there is a lot to more research about how globalization will affect the many concerns today. Contemporary youth research is conducted in the era of cultural globalization and this means that it can cause more trouble to what is being studied. Globalization in youth is something hard to explain but it is easy to explain when talking about the world as a whole. It shows that youth do have a big impact on the world because they are learning to set an example for when they grow up to show that they can make changes as their role models have. Academic youth and culture have been long understood as inseparable and closely related to one another since education is important if they want to have good paying careers. Most of this information is based on the ethnic culture since we have different types it is hard to know which ones will be successful and who will be the troublemakers. The context of globalization processes understanding and the preservation of ethnic self-identity has become important value for that reason our youth needs to understand that the lifestyle is different from what it was a few years ago because youth are using more technology and seem to know more about situations before the adults tend to know. As Sam George states â€Å" Young people have a symbiotic relationship with globalization that accelerates its influence in their lives†, and studies have shown that people have been denied the existence of globalization of culture. As explained it is widely agreed that there is no such thing as global culture, but it has not been figured out and it hard to explain since youth and globalization have different aspects. It is difficult to discern between global and local influences between the spatial effects of globalization in our everyday lives. This is a special issue that needs to be addressed to the point that the youth cultural spaces that have been immune to social inequalities. As explained in many of these articles we see that youth have created new social and cultural spaces in the global and local communities that experience problems with race, class and gender all over the world. I think youth need to have more focus because everyday in the news something is going on with children getting into trouble or dying for unknown reasons. Such as getting shot for wearing a hoodie or taking unknown drugs that affect them by hanging around bad influences this is an example of how youth culture By mapping and troubling how these frameworks operate in recent research about youth and globalization, Kennelly â€Å"asks how researchers interpret that represent apparent transformations in their lives. † Education also plays an important role in the youth culture because the education systems are organized nationally and there has been suspicion that globalization has been on the rise in these communities according to Julie McLeod. Global or transnational changes do not simply happen in global either and can manifest in particular places and times. As Kenneth Hultqvist (2003) argues while there â€Å" is nothing global or general per se,† globalizing trends and ideas are made â€Å"global by being inserted and translated and put to work on various local (national) contexts†. There have been many studies that can be used and be understood about many ideas and truths about young people in today’s society. It also involves looking at local translations and not only of global discourses in the economic processed and how it impacts the experience of young people. The word â€Å"Globalization† has been widely used in the last ten years of the last century especially after the collapse of the Soviet Union. Globalization appeared clearly in a period a little more than ten years and was based in the USA after the collapse of the socialist bloc . Thus globalization moved in rapid leaps skipping time phases especially after the Information and communication revolution, the arm race, the unipolar hegemony over third-world countries and countries of the previous socialist bloc . Globalization was introduced at the beginning as a modernizing aspect that brings about changes in the scientific block. Globalization was introduced at the beginning as a modernizing aspect that brings about changes in the scientific, just like cultural and political fields that aims at linking economic and technological advancement associating things to establish a new global civilization that is in the interests of the global centre that produces technology and leads the phenomena of the flow of commodities, services, construction and other things prevailing in western countries, especially America , to other countries and third world countries in particular. And we believe that globalization especially cultural globalization has different impacts because at first glance, the concept of globalization calls for the unification of ideas, values and ways of thinking among different peoples of the world as a means providing a broad area of mutual understanding and bringing people closer and securing world peace and these are all goals worth respect and appreciation . This triggered more inquiries about globalization; its nature, facts, illusions, advantages, disadvantages and how to deal with it. According to Nadine Dolby and Fazal Rizvi (2008), â€Å"consider the different forms and intensification of youth mobility- physical, imagined,virtual,desired,enforced- across both local and global spaces. † People in different regions are caught up in the continual circulation of global culture, through all types of media, movies and the internet; this is has recently changed since the circumstances that young people inhabit are different from the past. Young people are affected by the local and global dynamic is represented as a part of how they become modern and it not really understood in social or political shapes the young peoples daily lives. There is a fact that globalization represents the local as acted upon, as powerless in the face of global forces and it is argued that power is not confined to the global. As explained by Jacqueline Kennelly not resolving potential debates and argues that an important and fruitful direction for youth studies can be found in more historically enriched approaches to researching â€Å"young people today†. As discussed in many of these articles about youth culture has given me a better perspective of how that are existent throughout the world. The notion is that the late modern condition of globalization is influenced by such forces that are being met by powerfully globalizing forces. Multiple research has been done throughout the world with economic, academic and other resources has been essential because there has been global, political and social forces causing all the young people from being privileged like other countries. Young people are at the very heart of this unfolding global economic and cultural order. Also to acknowledge the effects of national location with all the local and global relations with the contemporary youth has caused many problems and needs to be changed right away without it becoming a major problem. Many discussions have been done about youth culture in different countries because some people may want to know what is going on with youth especially in global communities since we cannot be close to them.

Argumentative Essay about College Experience

Hey Ben! I was talking with Sean yesterday when he told me the news, you're planning to delay college. This came as a shock to me when I heard it. By not attending college, you may get a year's rest and a chance to think your decisions through, but if you ever do decide to attend college, you will miss out on a lot of opportunities as well. I think you should consider going to college rather than driving the open road after High The information you've learned in High School will be more fresh in your mind now than 1 year from now. You have passed 12 years of schooling, yet now you believe it is time to rest and see other places and people for a year or more before attempting college. College adds 4 more years of intense work, yet knowledge learned within High School can make learning new material easier for you. Other people often find themselves getting sidetracked once they put off the option to attend college, that can only hinder your ability to eventually become a college graduate. College can be a fun experience if shared with friends and people of similar age. By aiting an extra year or two, you will find it more uncomfortable within your classes. The entire college experience involves parties, football games, and drinking beer with your buddies as well as an education. As you get into the entire experience and enjoy college, you will understand and appreciate what a college offers. The ideal time for college is now more than ever as you also have scholarships and your parents to help with the expensive money arrangement which is needed. Parents can be a great help in paying for your college, and may be willing to pay much more mmediately after graduation from High School, than paying 2 years afterwards. Scholarships are always helpful to students, paying for a little bit of an expensive college. Although, to use the scholarship, you must go immediately to college. A College education right now is a lot more beneficial to you and your future than you may realize. It can lead to earlier jobs with increased salaries, better college experience, and scholarships to help pay for it all. I hope the arguments I mentioned above help you to see the other side of this situation and choose appropriately. Argumentative Essay about College Experience Hey Ben! I was talking with Sean yesterday when he told me the news, you're planning to delay college. This came as a shock to me when I heard it. By not attending college, you may get a year's rest and a chance to think your decisions through, but if you ever do decide to attend college, you will miss out on a lot of opportunities as well. I think you should consider going to college rather than driving the open road after High The information you've learned in High School will be more fresh in your mind now than 1 year from now. You have passed 12 years of schooling, yet now you believe it is time to rest and see other places and people for a year or more before attempting college. College adds 4 more years of intense work, yet knowledge learned within High School can make learning new material easier for you. Other people often find themselves getting sidetracked once they put off the option to attend college, that can only hinder your ability to eventually become a college graduate. College can be a fun experience if shared with friends and people of similar age. By aiting an extra year or two, you will find it more uncomfortable within your classes. The entire college experience involves parties, football games, and drinking beer with your buddies as well as an education. As you get into the entire experience and enjoy college, you will understand and appreciate what a college offers. The ideal time for college is now more than ever as you also have scholarships and your parents to help with the expensive money arrangement which is needed. Parents can be a great help in paying for your college, and may be willing to pay much more mmediately after graduation from High School, than paying 2 years afterwards. Scholarships are always helpful to students, paying for a little bit of an expensive college. Although, to use the scholarship, you must go immediately to college. A College education right now is a lot more beneficial to you and your future than you may realize. It can lead to earlier jobs with increased salaries, better college experience, and scholarships to help pay for it all. I hope the arguments I mentioned above help you to see the other side of this situation and choose appropriately.