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The word "Business" has been defined as an organization involved in trade of goods and services.There are stupendous numbr of businesses which are existing in almost all the countries in the world,producing various kinds of goods and providing different types of services to make the lives of people better.Most of them are done for profits and only few is carried out for charity
In Sri Lanka,there are vast number of businesses.They are either production based or servisce providing budsinesses.Of them some do their business in large scales(even globally) and some people deals with small scale businesses.Among them there businesses that can be categorized under traditional businesses(or indegeneous businesses).They produce various kinds of traditional goods and various goods that we need in our day today life.Among thetraditional businesses in our country "Spicies Business" takes a prominent place
I selected a spicies business in our village,which falls in to the set of traditional businesses to do this project.I interviewed a person to that busines to discuss about his business,current issues he faces,his future plans and his oppinion abot the support he gets from the related authorities.
Tthus the facts for the guideline documents are discussed below using the information taken from the interviewed person along with my own recomendations about the business and my opinions regarding how to develop production,how to increase the effeciency and how to plan their future.
Introduction
A "spicie" is a dried seed ,fruit,root,bark of a vegetable or a tree.They are primarily used for flavouring,colouring or preseving food.Spicies are specially distinguished from herbs.a spicie may have other uses too like producing cosmetics,perfumes, m...
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...es and by taking a loan.with it they were able to distibute their products to few more shops in the town area.With having more customers they had decided to hier few employees.According to him bringing up the business at the begining was not a easy task.Those days he had had to face many difficulties like difficulties in finding funds and not having experienced employers to work with them.At the begining banks hadn't allow them to have big loans.Also according to him it had been very hard to find new markets.At the begining only few shops have allow them to put their product in to their shops.
But anyhow amidst these throny difficulties he has developed step by step in to a better business with 25 employees,two delivery vans and few machineries with a better working plae(grinding mill).Also now they have extended their productions to few more aspects as well
Brian, a young business executive, started a small software company in his mid twenties. He would invest long hours developing his business, often working late into the nights. When the business became profitable, Brian incorporated and went public through a stock offering. Flood gates open and money poured in the company coffers and Brian grew exceedingly wealthy.
Starting a personal business is a very difficult and time consuming task that is filled with many challenges. Most entrepreneurs face the challenge of being declined for a bank loan or face the disapproval from loved ones. But William Rosenberg faced multiple challenges on his road to success. Some challenges were from his parents immigrating to American to having to drop out of school to help financially support his family. Despite the adversities Rosenberg faced he kept going and never gave up. He used his ingenuity and resourcefulness to go from a simple and humble food truck to a multi-billion enterprise. William Rosenberg was able to overcome extreme adversities and become a very successful businessman, who eventually launched one of the biggest donut enterprises in the United States.
John works in his father’s clothes store. The store has a small number of regular customers but, because of its location, the store struggles to attract new ones. John’s father knows that in order for the enterprise to survive he must constantly attract new people to the store. At school John had studied Enterprise and he had been very successful at attracting potential customers. John’s father thought that with his entrepreneurial skills John would be able to think of ways to attract customers to the store and he asked John to help him.
Redus, it is clear that he has developed a winning strategy that has paid off by way of a successful, longstanding barbering business. Once a decision has been made to become an entrepreneur, a plan must be established. In Mr. Redus’ case, his plan to venture out on his own was altered due to the untimely passing of Mr. Walter. Due to Mr. Walter’s passing, Mr. Redus inherited the barbershop in which he worked, renamed it, and thus Redus Barbershop was born. Upon re-establishing this well-known business as Redus Barbershop, Mr. Redus employed two more up and coming barbers, Mr. Bobby Redus, his brother, and Mr. Ramone Collier. Mr. Redus wanted to start reaching back immediately, and because competition was almost non-existent at this point, it was fairly easy to establish a good reputation and dominate this market in small town Athens. I learned from Mr. Redus that you cannot just become complacent when things are going good because change is inevitable. People usually follow the popular trend, and once it was noticed that Redus Barbershop essentially monopolized the barbering market in Athens, other entrepreneurs followed in his footsteps. Of course, as Mr. Redus stated, you have to roll with the punches. Mr. Redus began to think back to Mr. Walter philosophies, and always made sure he was there when he was supposed to be there. That one rule really stuck out to me. It says I am dependable, and you can count on me. Basically, be a man of your word.
Their financial goal is to sustain the longevity of its operations by distributing profits equally among its stakeholders. The stakeholders of a social enterprise are usually a group of people or a community in the marginalized sector of society. These include the Persons with disabilities (PWDs), ethnic groups, and the urban poor communities. On the other hand, commercial enterprises focus on commercializing social value through innovation. Its financial goal is profit
The problem that was investigated consisted of a question that Milton Friedman posed in one of his articles, which was featured in The New York Times Magazine in 1970. The question was, “What does it mean to say that “business” has responsibilities” (Friedman, 2007, p. 173)? Friedman (1970) elaborated on how businesses cannot have assigned responsibilities. Furthermore, he described how groups or individuals should be the only ones that can hold responsibilities, not businesses. He stated that associating responsibilities with the word business is too ambiguous. I will examine three discussion questions and three compare and contrast questions which Jennings (2009) posed in a case study that is related to Friedman’s (1970) article “The Social Responsibility of Business is to Increase its Profits”.
There are many businesses failing in the world today but there also a lot of business thriving. It is situations like this that leads to potential entrepreneurs to ask the question of why are some businesses successful while others are not. This course has given me some insight as to why some businesses fail. Having that information would make me better prepared for when I decide to start my business.
The word business, trade, exchange of commodities are all synonyms. In the early age of civilization business was carried out on the basis of Bata trade as currency came into existence and there were business set Ups our perception started to change towards business but more so since the last 50 yrs with the advent of the information technology the world has turned around. With the establishment of the Internet business has got globalize Businesses are now able to approach overseas market they are no more confined to their areas of their establishment.
Businesses have been around since the beginning of bartering, an apple for some wheat, a horse for a wife, a daughter for a house. (In no way reflecting what I would trade) The startups of businesses across time have never come easy, from cost, to hassle, to threat of beheading; there have always been obstacles in starting a business.
Consulting interviews can be a difficult task; however, it is often one of the most important methods of data gathering. The best way to start the interview process is by the consultant and the CEO, or a department head, providing the interviewees with a statement that states the purpose of the engagement, the interview topics and its length, a request for cooperation and a promise of confidentiality. In the interview more comprehensive information is usually better gathered from statements rather than questions which can lead to narrow answers.
In past the organizations that have been addressing social, cultural and environmental issues have traditionally been NGO’s and NPO’s who heavily rely on donations from charity or government grants to increase up their activities to resolve the social issue. Social enterprise on the other hand due to its unique hybrid business model replaces donation/grant dependency with its business profits. The most obvious of social enterprise’s potential benefits is the opportunity to gain financial sustainability and independence. Great example social enterprise that has gained financial liberation is Ciudad Saludable (“Healthy City”) who with their unique business model has achieved a sustainable income stream of roughly $18.5 million annually. Another advantage of social enterprise is being table to quickly scale up their activities to serve large community. Where conventional funding model through charity and grants have difficulties in growing in size or scope to serve larger community. The financial independence help social enterprise to invest funds in new services which allows them to invest in growth of the business and social service. With this, social enterprise aids organization to go further. (Smith B, Cronley, & and Barr,
Based on the book Entrepreneurship and Small Business Management of Roberto G. Medina’s (2014) A small business operator keeps long working hours and absorb whatever damages that happen as a result of his faulty decision-making. However, he is afforded some benefits. First, the opportunity to gain control over his own destiny. Second is the opportunity to reach his full potential. Next, the opportunity to reap unlimited profits. Lastly, the opportunity to make a contribution to society and receive recognition for his efforts. (p. 18)
It’s an innovative form of business which combines social change with commercial practice. Currently India is trying to find a solution to the different problems that it is facing such as: poverty, changes of economic gender roles, and environmental problems. India being a young nation provides a huge opportunity for social entrepreneurs. Young people are very enthusiastic, passionate to start
find it difficult to set up a business and make it a success. This is
Furthermore, if you are conducting feasibility study as part of launching a business, you also need to answer the following questions: