As more and more people start or consider starting their own business, it is important that they understand the core steps that are required to launch successful ventures. The paper will provide a summary of the definitions of business management provided by scholars in this subject area. The author will also expand on one of the definitions by Joseph Schumpeter to create a better understanding of the definition of the term “entrepreneurship” as applied in today’s business world. Leaders must be visionary so that they provide the organization a vision of what the organization wants to transform itself into in spite of the current situation. Leaders must push the decision making down to the lowest levels and empower employees to perform. Leaders must have integrity and lead by example. Leaders must have a global perspective in understanding that the world is interconnected. International students who successfully complete Centennial’s Global Business Management program may be eligible to apply for a work permit (up to three years) upon graduation.
Another trend in the insurance industry is the creativity in premiums collections. Most insurance agencies know that the survival of their business lies in the regular payment of premiums which is why they have to go all the way to put system and processes in place that will help the collect premiums from the policies holders with ease. The mission of Keen Assurance Brokers is to create a more protected personal and business environment for individuals and businesses by offering property, casualty, and life insurance to intending and existing premium owners, through diversified and pragmatic portfolios, that will be tailored to specific and general needs. In a Delphi study, Gartner (1990) found eight themes expressed by the participants that constitute the nature of entrepreneurship. They were the entrepreneur, innovation, organization creation, creating value, profit or non-profit, growth, uniqueness, and the owner-manager. The themes could be seen as a derivative and expansion of Schumpter’s earlier concept.