External and Internal Scenarios in Connecticut´s Entrepreneurship Essays

External and Internal Scenarios in Connecticut´s Entrepreneurship Essays

Length: 658 words (1.9 double-spaced pages)

Rating: Better Essays

Open Document

Essay Preview

In order to fully understand the value chain in our scenario we have to take into the consideration both external and internal forces that drives change and their impact on Connecticut’s entrepreneurship and career opportunities among its residents. The key trends that would shape future opportunities within next 5 – 10 years can be grouped within five areas:
- Economic issues, including reshuffling surrounding states economies, growing gap between high and middle class, as well as a focus on providing competitive advantage to young entrepreneurs among other states.
- Infrastructure issues, including rapid deterioration of state highways and bridges, lack of substitution in transportation
- Change in demographics, such as a shift in Connecticut population, urbanization and cross state migration
- New technologies, such as high speed computing, virtual communication, potential to harvest data, people accessible everywhere in minutes not hours or days
- Regulatory forces, extended legislation on health and wellness, increase in state and municipal taxation
A typical entrepreneur in Connecticut is coming from the middle class with the western like life style. Most likely grow up in Connecticut but it is not common to migrate from other state or eastern countries. Graduated from in state universities and currently pursuing graduate degrees or job required certifications.
While these trends are largely outside the control of the process that will produce young entrepreneurs, local government, large corporations and small businesses must consider the impact of these external forces on Connecticut’s population and determine of how to respond to the changes that most likely are generated by their impact. Meanwhile there may be more tren...

... middle of paper ...

...he work to create trust – trust in young entrepreneurship builds confidence and allow for much better risk taking and challenging existing norms and limits
2) Joint Value creation – sharing of best practices creates values for each other
3) Leadership – although most innovation and individualism is created by the single units, the core values must be imbedded early in development stage
4) Alignment of innovation and free thinking – all parties must align their current decision with common long term vision
5) Incentive and reward system – young entrepreneurs should be stimulated by measurable reward system and be easily applied to the existing line of business
6) Empowerment – for changes to occur, the empowering process should be in place
7) Cultural exchange – the exchange of cultural differences should freely flow through the state lines
Changes to the Value Chain

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Internal and External Violence Essay examples

- Internal and External Violence Specific time periods, such as World War II, and the Post-Civil War era bring to mind images of hate, death, and violence. Not solely external violence or violence that is carried out, such as murders, war, or blatant displays of violence such as those in Ellison’s Battle Royal, but internal violence as well. Internal violence is more about the mind, a violence of emotion, though internal violence is closely linked to external violence. They are linked not only because external violence causes internal violence, but also because of the reverse....   [tags: Violent Violence Internal External Essays]

Better Essays
1473 words (4.2 pages)

External and Internal Factors Essay

- External and Internal Factors There are many external and internal factors that impact the planning functions of management. We must all be mindful of these factors because they could have an enormous impact on organizations productivity. The process of assessing the external and internal factors that an organization will face can be vital to the planning function of management. One must determine a set of issues and constraints and then list the assumptions that will impact the implementation of the plan....   [tags: External Internal Factors Management Essays]

Better Essays
1045 words (3 pages)

Essay on External Auditor Versus Internal Whistleblower

- External Auditor versus Internal Whistleblower: Who is More Effective in Deterring Fraud. Fraud and financial improprieties occur in all businesses: private, public, governmental agencies, and not-for-profit organizations. Fraud leads to a loss of company properties through illegal means that cost companies nearly a billion dollars annually (KPMG Peat Marwick LLP). (#9) The Center for Audit Quality published a report identifying the key players responsible for the mitigation of fraud risk to the investing public and other stakeholders as the board of directors and audit committee, the internal and external auditors, and the company’s management....   [tags: Auditing, Audit, External auditor, Fraud]

Better Essays
1949 words (5.6 pages)

The Quality Of Products And Innovation Essays

- The points above are of great importance and taking them into account when creating a company is very helpful. Creating a company with the idea of making money impedes growth; mismanagement of a company leads the company in a wrong way. Taking into account that the staff at the company is the most important resource is necessary to have sufficient working capital allows solving needs as wages and salaries, suppliers, etc. Thus also a company needs to be positioned at strategic points that are attractive to the public, location allows the customer a better accessibility, the enterprise infrastructure is very important and it must be suitable for different turns of enterprises....   [tags: Management, Business, Entrepreneurship]

Better Essays
1248 words (3.6 pages)

Validity: External, Internal, and Construct Essay

- Validity In research paradigm, validity and reliability are the most basic characteristic issues used in qualitative and quantitative analysis. Validity as a psychometric standard is embedded in a positivist approach, which is relevant in reflecting on the qualitative point of view ascribed to the establishment of the truth. In view of this, definition of positivism ascribe to a theory systematic to validity. Additionally, other empirical conceptions culminating from resided validity include truth, deduction, universal laws, evidence, reason, and actuality among others....   [tags: Business Management ]

Better Essays
2019 words (5.8 pages)

Innovation and Entrepreneurship in Developing Organizations Essay

- “Entrepreneurship is the process of creating or seizing an opportunity and pursuing it regardless of the resources currently controlled “(Bygrave 1989) The purpose of this paper is to identify the effects an intrapreneur might affect the development of an organisation and examine the affects which barriers might affect them in intrapreunship in an organisation. The areas what will be investigated and discussed will be • Corporate venturing • Intrapreneurs • Entrepreneurial management • Innovation Entrepreneurship is considered an individual or organisational level behavioural phenomenon, or a process of emergence (Gartner et al 1992)....   [tags: Entrepreneurship, Developing Organizations, busine]

Better Essays
2047 words (5.8 pages)

Internal And External Audiences After A Situation Essay

- How can the company in this case repair its image to their internal and external audiences after a situation like this. How do they go about regaining their trust. A security breach can have detrimental results on the name, character, reputation, for which a company stands for. The stain of a breached can have a long lasting effects on its ability to serve customers and business partners. Which can lead to lost revenue, fines levy or possible closure. The repair process starts once a company discovers and acknowledge the incident to the public....   [tags: Security, National security, Computer security]

Better Essays
728 words (2.1 pages)

Internal And External Beauty Essay

- Internal and external beauty are both very important in our society. To be beautiful internally means to have a kind heart and be understanding. To be beautiful externally means to be beautiful on the outside such as having a nice figure and an attractive smile. Internal beauty is important because beyond looks, it is your personality that is noticed. External beauty is important because it is your attractive figure that brings notice to someone’s great personality or external beauty. To me, internal and external beauty are represented and influenced by family members, friends, and society as a whole....   [tags: essays research papers]

Better Essays
675 words (1.9 pages)

Entrepreneurship Essay

- Entrepreneurship There have been numerous attempts to define the traits or characteristics possessed by entrepreneurs. However, there is low correlation between trait measures and performance (Chell, 1985). Explain why this may be the case. Peter Drucker (1985) states in his article, "A Prescription for Entrepreneurial Management", "Leadership does not necessarily mean bigger; it means being accepted as the leader, recognized as the standard setter. Above all, it means having the freedom to lead rather than being obliged to follow" ....   [tags: Papers]

Better Essays
2194 words (6.3 pages)

Entrepreneurship Essay

- According to Henry, Hill & Leitch (2003) the word entrepreneur was derived from the French word ‘entreprendre’ which means to undertake, and the first person who introduced and used the word of entrepreneur was Richard Cantillon (1680-1734), an Irish economist. Cantillon defined entrepreneur as a person with the foresight and confidence to work in conditions when costs may be known, but rewards are uncertain (Bridge, O’Neill & Cromie 1998). Therefore, it can be concluded that entrepreneurship demands foresight and willingness to assume risk (Landstrom 1997, cited in Corbetta, Huse & Rovasi 2004)....   [tags: Business Entrepreneur Entrepreneurship Essays]

Better Essays
1726 words (4.9 pages)