The process of discovering new venture with creativity and innovation is called entrepreneurship. Entrepreneurship requires assumption of risk and reaping of awards. It brings resources together and provides option for self-employment to an individual. Entrepreneurship also creates employment opportunity for others.
Entrepreneurship is a mind set of creativity and risk taking. It is a process of identifying opportunities and bringing together factors of production to exploit these opportunities. Entrepreneurship results in creation of new venture by planning, organizing, operating and assuming the risk. It always aims for innovation, profitability and growth.
The entrepreneurial spirit has appeared as the engine of economic development.… Read the rest
Management Articles
Comparison of Japanese and Western Management Styles
The key difference between Japanese and Western management style is not one of method but of attitude and philosophy. The Japanese have studied the Western style of management, concentrating mainly on American management styles for the past 30 years and have adapted what they believed to be useful methods to their own work environment. It now appears that Western companies are studying some of the Japanese management styles, attitudes, and philosophy and have adopted areas of work ethic, which they believe to be valuable to their companies. It is necessary that Western companies study and deploy various Japanese management styles because the most important reason behind successful Japanese outcome in productivity and quality is the quality of their work force.… Read the rest
Characteristics of Successful Ecommerce Businesses
Ecommerce had brought much change in way business. It is enabled businesses to connect with each other in new way of thinking in every area on commerce. The turnover from usual business to e-commerce has anticipated exceeding far then expected by spectator. Many companies nowadays using Ecommerce had been successfully gained more profit in their business. These companies have their own features that show them as the highly rated successful companies. Most of these companies also have good strategies in planning their business that enables them to success.
Amazon is one of the most famous e-commerce companies and founded by Jeff Bezos.… Read the rest
Four Typologies of Organizational Culture
In organizational culture there are many kind of categorization and typologies have been explained by different scholars of culture. Theses typologies give and over view about the different cultures which exist in organizations. Handy (1985) was the person who discussed how different cultures have their existence in different organizations and within the same organization many diverse cultures can coexist. There are very few organizations exist who have a single culture exists in them. Every individual have its own culture within him and have his own specific personality and culture along with organizational culture. Organizational culture and structure of any organization are connected with each other.… Read the rest
Max Weber and Postmodernism Theory Concepts
It is not difficult to argue that Max Weber has outlived all his competitors in the classical tradition. His ideas have inspired scores of sociologists in a host of areas for more than sixty years. The contemporary vitality of these ideas is in no small measure due to the fact that he is the most prominent advocate of modernism and that he has both resisted and justified some of postmodernism’s most convincing criticisms of modern social science and society. When analysing the statement that “the fate of our times is characterized by rationalization, intellectualization and about all by the disenchantment of the world” one must look into all aspects of the 3 ways of thinking that Weber has described; rationalism, intellectualization and disenchantment.… Read the rest
Forecasting for Strategic Planning
Forecasting is a collection of mostly statistical and/or judgmental procedures which aim at predicting the future based on the available information and/or data (These processes may include activities such as data collection, data pre-processing and preliminary data analysis, forecasting method selection, which also involves model selection, model fitting, and diagnostic checking, and control in a forecasting system in use). In such processes, forecasting has lots of potentials for strategic level managers including revealing system dynamics, problem determination, predicting, monitoring, and control.
Forecasting techniques are used by managers to plan future capacity to meet market demand and to procure the needed inputs to produce this demand at optimum costs.… Read the rest