September 21, 2021

Coin Tastic

Business Managements for you

5 Rules For Entrepreneurship

Social entrepreneurship is becoming more popular these days. Life as a woman entrepreneur is not...

Social entrepreneurship is becoming more popular these days. Life as a woman entrepreneur is not an easy option. There are myriad factors and areas which need to be addressed when entering into entrepreneurship, beginning from conceiving the idea of business, establishing it and then finally operating it successfully. There could be many reasons of attracting women to entrepreneurship. Some have the urge to be independent. They want to switch over to roles where the discretion of decision making vests with them. Power and authority are strong drives to attract women into this role. Many look forward to switching to this option as this gives them the flexibility of work when compared to their existing employment. This in turn allows them to balance their lives. Some may like this option as this gives them a direct recognition. When compared to contributions in service sectors where individual recognition is practically not possible, and entrepreneurship gives them a chance to enjoy the limelight.

It also made me reflect on all those lovely people from my youth – from my era – who have also lost their lives since those days in the eighties when we used to go clubbing together and had the best times growing up in the local post-punk and indie scene. Kreativitas tidak selalu dihasilkan dari sesuatu yang tidak ada sering sekali merupakan perbaikan dari sesuatu yang telah ada. Sering juga gagasan baru timbul secara kebetulan yang penting untuk dipahami mengapa kreativitas serta inovasi tersebut merupakan cirri-ciri yang melekat kepada Entrepreneur. Let’s take a look at what real entrepreneurs have to say about the meaning of business management, and what it means to them on a personal level. Tahap ini adalah di mana entrepreneur berdasarkan hasil yang telah dicapai melakukan analisis perkembangan dan inovasi untuk ditindaklanjuti sesuai dengan kondisi yang dihadapi. Dalam perkembangannya bisa dengan memperbanyak relasi, memperbarui metode dan sistem, memperbarui produk yang dihasilkan, memperbesar dan memperluas usaha, menambah kualitas, menambah pelayanan, menambah tenaga kerja.

From Walmart’s case, it is apparent that the company employed an equity entry model when establishing its presence in German market. This is because apart from retaining its name, it also invested its resources in its own physical stores, employees, branding among others. However, direct investment worked against the company since its operations did not match the local culture while also exposing it to high risks in the face of failure (Durand, and Wrigley, 2009). Ietto-Gillies, (2012) admit that foreign direct investment is a risky strategy for multinationals. This is because it requires a complete comprehension of business environment, culture and customers in the foreign country. Similarly, Walmart’s entry strategy did not allow it to understand the local culture, business environment, consumer needs and behavior. This may work to explain why its marketing strategy did not tally with the local culture, consumer behavior and customer tastes (Durant and Wrigley, 2009).

The third characteristic of the successful entrepreneur is tenacity despite failure. Let’s face it, many entrepreneurs are usually trying something new and the failure rates can be high. For many people, the process of fine tuning their business to see what works and what doesn’t work means that there will also be small failures along the way. The litmus test for entrepreneurs is their ability to fight through the setbacks and failures and keep chugging along with the experimentation it takes sometimes to find the success they are looking for. It is important because it shows the degree of commitment required to succeed. The old saying quitters never win” is very true and should be a warning to the entrepreneur if they don’t have the desire to stick it out and keep trying.