The Indian economy was previously highly depended on agriculture; however, the current development in the industrial and service sectors requires entrepreneurship to also parallely progress, so, entrepreneurship in India requires ample motivation. Many aspects play a role in developing entrepreneurship: Educational institutions help develop requisite qualities like leadership and team spirit, help in the development of business plans, and the gaining of financial support, besides setting up TBIs and EDCs. Established businesses can help with internship, apprenticeship, and collaborations. Small scale industrial associations can also act as facilitators in prototype labs, and expositions. It is the view of a number of first generation entrepreneurs that entering into entrepreneurship demands a lot of drive and passion. Not only is the entrepreneur expected to be inspired by the idea behind the business, but business man must also have ample leadership potential in order to be able to take the responsibility in caseContinue reading
Business Articles
How Different Generations Adapt And React To New Technologies
The new information and communication technologies (ICTs) represent all the tools available to us in terms of telecommunications, computing, audiovisual, Internet, multimedia etc. These new technologies have allowed the emergence of new practices in our daily lives. Both professionally and privately. In general, these new tools bring performance and productivity to users, but these new technologies can have several disadvantages. Who is Interested in New Technologies? And What are Their Expectations? Millennials, the generation Y is the generation which is the most interested in new technologies. They are already aware of new trends and they want new things, they want to live new experiences. Millennials are young people born between 1980 and 2000 and they represent 25% of the total population all around the world. Their expectations are totally different from the other generation such as baby boomers or generation X. This is the generation who born with the internet and thenContinue reading
Functions of Organizational Culture
Organizational culture is the sum of reflects that gradually formed in the production and management practices, agreed and complied with all staff, with the characteristics of the Organization’s mission, vision, purpose, spirit, values and business philosophy, and the ideas in the production and management practices, management system, the behavior of employees with the external image. In essence, organizational culture is a cultural phenomenon among the enterprises, its appearance is inseparable from the development of the theory and practice of modern enterprise, from the management perspective, organizational culture are the application management tools to achieve management objectives, therefore, organizational culture are not only a cultural phenomenon, but also has a connotation as a management tool. First, the organizational culture is led by a sense of enterprise management, the cultural patterns of pursuit and realization in a certain corporate purposes, from a certain sense, the organizational culture is a culture of enterpriseContinue reading
Entrepreneur – Definition, Functions and Characteristics
Entrepreneur is an individual who, operate, takes risks of a business. Which means the process of running a business by their own. Due to economic crisis through out the world these days, most of the countries are encouraging people to be and entrepreneurial which leads to increase in the jobs for the people and increase the economy of the country. People become entrepreneurs by them-self to start a business when they are controlled by many factors around them. Some people want to leave their jobs and start own business and few people want to earn money sitting at home. May be some people look for the needs for a market and to meet those needs they start their own business by supplying products for the market. If they succeed in this process this makes them successful entrepreneur. Entrepreneur is an individual or group of individuals who identify the business opportunityContinue reading
Why Businesses Fail to Manage Ethics in the Workplace?
The majority of the company including international and local organizations starts to alert and concentrate on the importance of business ethics between managements and employees. One of the major challenges in business ethics is creating a safe environment where all employees or workers can raise their concerns about possible misconduct and wrongdoing. Business ethics has been an essential but difficult subject to handle. Many business organizations recognize the importance of business ethics but do not give it due attention. One the contrary, some organizations have simply provided the fundamental business ethic course which involves learning what is right or wrong and doing the right thing. In the reality, some of the organizations have failed to manage the business ethics in the workplace. The major elements which affect the business failure mainly identified and divided into six different types of categories including gender diversity, sexual harassment, lack of communication, age discrimination,Continue reading
Cultural Sensitivity is Crucial Factor in Company’s International Business Success
Due to progress in communication, transformation and technologies which have performed in development of world’s economy, people from different nations, cultures, languages and backgrounds are now communicating, meeting and doing business with each other more than ever. As there is increase in business activities between people from different nations, cultures, languages and backgrounds, companies who are operating internationally or which are going to be a global they have to concentrate on many factors to be a successful in international market. One of the significant factors among them is a culture. For the success of any business in variety of countries or regions it requires to have understanding of how cultural differences across and within nations can affect the way business is practiced. The main determinants of culture are religion, political philosophy, economical philosophy, education, language, social structure etc. Businesses have to understand and match with all this cultural determinants, asContinue reading