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Short note on entrepreneurship as a career
Essay on entrepreneurship and its importance in today's educational system
Essay on entrepreneurship and its importance in today's educational system
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Introduction With escalating population and job scarcity, schools in India are considering alternate skills that would be beneficial to children when they grow up. One such aspect under consideration is entrepreneurship. Considering the number of successful entrepreneurs in India and the subsidized schemes that are provided by the government to set up a business; it is only fitting that a large number of students would be self employed in the future. So, teaching entrepreneurship would seem to be a logical solution to get the children interested and ready for the future. However, can entrepreneurship really be taught to anyone? If so, is it best to be introduced at the school level? Entrepreneurship is more of an attribute than a skill that …show more content…
The morals and values that are taught at a young age last forever. It is important to imbibe in them the values of honesty and integrity. A lot of people forget these values when they are exposed to monetary benefits. There is an entire branch that studies the dark side of entrepreneurship – when people make money at the essence of other people’s lives. Even treating an employee with dignity and respect goes a long way in creating a successful business. Advantages of teaching entrepreneurial skills at school 1. More time to learn – When children are introduced to entrepreneurship at a young age, they have more time to experiment and learn about the various aspects, than would a person going through mid life crisis. Even the little mistakes they make today could help them a long way when they start something new in the future. 2. Maintain Enthusiasm – Children are always enthusiastic in their activities. It is highly rare for a child to say no to doing something. This ‘can do’ attitude can help them achieve more. Also, the amount of investment required for a child to start a new venture is typically way less than the capital that would be required for a proper start up. Children should be encouraged to start new ventures or do-it-yourself projects. This would enable them to be
As we enter the 21st century, the world is full of opportunities for entrepreneurs. The opportunity is what many entrepreneurs chase after. Just the idea of starting a business excited them. Entrepreneurs are people who have characteristics of a high need for achievement, a willingness to take moderate risk, strong self-confidence, and a passion for the business. We all question what is the best age for getting started. There is really no simple answer to that question. Most businesses require some background knowledge. A certain amount of time is usually required to gain the education, experience, and financial resources of starting a business. According to the textbook “Small Business Management” by Longenecker, Moore, and Petty, research conducted by Paul Reynolds reveals that the highest percentage of startups is in age group of 25 to 35 years old; Truett Cathy was a natural entrepreneur at the age of 8.
In the book, If Aristotle Ran General Motors, Tom Morris argues that the teachings of the ancients can and should be applied to today's corporation. His message is that the four virtues - truth, beauty, goodness, and unity - form the foundation of human excellence. Putting them into practice leads not only to self-fulfillment, but ultimately to an open, nurturing, and ethical workplace that is more productive and successful in the long-term. The purpose of this essay is to examine how Morris treats the system of ethics in relation to these four virtues.
Effective organizations are able to clearly define their ethical expectations by setting high moral standards, writing codes of conduct, and utilizing mentoring programs. “Masters provide your servants with what is right and fair, because you know that you also have a Master in heaven” (Col. 4:1). When organizations clearly define their ethical expectations to their subordinates, they are much more likely to treat their customers fairly. Customers who are treated fairly are much more likely to be loyal consumers of the products or services that the company provides. This helps to establish a loyal customer base that a business can depend upon, thus providing a predictable source of annual revenue. If an employer treats their employees with respect, honesty, and with candor they’ll give the customer 110% (Rion, 2001).
“Ethics 101”by John C. Maxwell, is a book to help determine your standard of ethics once you enter the professional arena. The book uses a variety of situations and primarily discusses what Maxwell calls, “The Golden Rule”. This is essentially a motto to live by when making ethical decisions. The main concept of this rule is to do unto others as you would want them to do to you. This is essential to be a respectable person in the business world, but something that is often forgotten once money & power comes as the benefits of breaking your ethics.
It also involves opportunity recognition and being able to define the scope of the opportunity. Entrepreneurship requires a distinctive business notion that takes the form of a product, process or service. Entrepreneurship entails a window of opportunity within which the concept can be successfully capitalized on. The concept is very vulnerable in the formative stage, and that require adaptation over time. In entrepreneurship, the entrepreneur takes the risk involved in his decisions. The entrepreneur cannot make errors that could mean instant failure. Last but not least is that the entrepreneur owns the concept and business. The concept of entrepreneurship will give me knowledge and the technical know-how of operating on the entrepreneurship level. Entrepreneurship concepts do not primarily hold my career right now. However, in the near future if I make up my mind to set up my health care center, I already have the knowledge of how the system works. This knowledge can be acquired through my service to the companies in which I will be
Ethics in business is a highly important concept, as it can affect a company’s profits, salaries paid to employees and CEOs, and public opinion, among many other aspects of a business. Ethics can be enforced by company policies and guidelines, set a precedent when a company is faced with an important decision, and are also evolving thanks to new technology and situations that arise due to technology usage. Businesses have a duty to maintain their ethical responsibilities and also to help their employees enforce these responsibilities in and out of the workplace. However, ethics and the foundation for them are not always black and white. There are many different ethical theories, however Utilitarianism, Kant’s Deontological ethics, and Virtue ethics are three of the most well known theories in existence. Each theory is distinct in that it has a different quality used to determine ethicality and allows for a person to choose which system of ethics works best with both the situation and his or her personal ethical preferences.
Seawell, Buie 2010, ‘The Content and Practice of Business Ethics’, Good Business, pp. 2-18, viewed 22 October 2013, .
Treviño, L. K., & Nelson, K. A. (2007). Managing business ethics: Straight talk about how to do it right Fourth ed., Retrieved on July 30, 2010 from www.ecampus.phoenix.edu
Kids have a big imagination so to put those of them who are brave enough to the test will help reach more goals. For instance, Steve Jobs Commencement address states, “Woz and I started Apple in my parents' garage when I was 20, we worked hard, in 10 years Apple had grown from just the two of us in a garage into a $2 billion company with over 4,000 employees.” At a young age Steve put his creativity to the test and before his eyes, he saw those small ideas turn out big when you take the time and effort to turn it into a reality. These are the things we should encourage kids to do. Steve Jobs himself also said, “I returned Coke bottles for the 5 cent deposits to buy food with, and I would walk the 7 miles across town every Sunday night to get one good meal a week at the Hare Krishna temple, I loved it.”
Ethics and values are important in a business as they help the business function and create a standard for employees and help the environment and the community which in turn allows them to do support businesses.
Lastly, what is expected of the child will help an entrepreneur improve their business because it will make their business run more smoothly and successfully. Having your child go to college, meet special qualifications or just do other things to learn more about the business will benefit the business, I think in a great deal.
For a business to be effective and running, ethics and values are important factors. Both of these factors work in correlation with one another and they are central to any organization. We then define ethics as moral principles that govern a person’s behaviour. This can be identified on how stakeholders (consumers, customers and shareholders) behave in the organisational environment. Edward Westermarck (Lee and John 1986 37-38) agrees in saying that ‘ethics are concerned with doing good or the right thing in a given human situation’. In the business context, ethics has to do with the extent to which a person's behaviour measures up to such standards as the law, organizational policies, professional and trade association codes, popular expectations regarding fairness and what is right, plus one's own take on moral standards (Sauser, 2005: internet).
The success of a business is greatly dependent on its entrepreneur. An entrepreneur is someone who takes the financial risk of starting and managing a new business venture. In order to be a successful entrepreneur, one must be ready to take a risk and invest one’s own savings into a business. The job requires that the individual be ambitious and committed to working hard in order to achieve the set targets. A successful entrepreneur is able to multi-task and communicates effectively with people, possessing leadership qualities such as confidence and motivation. The individual must play the role of constant motivator and inspire employees to improve their work performance, whilst ensuring a comfortable environment for the employees to work in. According to Schumpeter (1982), an entrepreneur is more of a ‘heroic’ than an ‘economic’ figure; his motivation should not solely be monetary, rather stemming more from inspiration and ambition.
Entrepreneurships can be two ways whether it is by individual intention or entrepreneur taking by family firm. Based on Kuratko (2005) asserted that an entrepreneurship intention can be developed in ad individual since it is related to the individual characteristics of seeking opportunity, taking risk, and giving tendency to push an idea through. Entrepreneurial that become because of their family have a talent across generation, intelligence to success in business and has a dedication (Poutziouris, 2001). Business that from family has a benefit to the owner because there should ...
Entrepreneurship is an important aspect of social, economic and community life. It can be viewed as a critical factor to economic growth as well as a way of addressing unemployment (Nolan, 2003).Entrepreneurs are people who are persistently focused on identifying opportunities, they seek to create something worthwhile while taking into account foreseeable risk and rewards associated with the efforts (Nolan, 2003). Furthermore, entrepreneurs are frequently understood to be individuals who discover market needs and establish new business to meet those identified opportunities. The following assignment will firstly discuss the types of entrepreneurship, secondly it will discuss the reasons people become entrepreneurs, and thirdly it will discuss the importance of entrepreneurship.