As history has shown us before one day we will all look back on these harder financial times and think “that’s when smart people did xyz.” In this case xyz is start their own business. Hey, are you a winner in life? Do you want to know some characteristics of the winners? Then read this simple article and understand their ways of working and thinking in just less than 5 minutes. While both have benefits, an agency can be a benefit if you don’t already have a network of trusted service providers including printers, promotional products companies, tradeshow planners etc. who are familiar with your business. Often times, an agency can get things done for a client faster, more efficiantly and with better quality for the same or lower price. Plus, as a business owner you have to factor in the time you may spend shopping for the best price and reading reviews to make sure that the best price doesn’t give you the worst services. How about the workers developing their skills instead? No one seems to call on the workers to do anything. No they’d rather have business owners make stupid decisions and drive the whole company out of business, and along with them the jobs of employees who have done something to get education and improve. Many of these studies identified entrepreneurship competences like communication competence, financial competence, marketing competence, business ethics competence, social responsibility competence, decision-making competence and leadership competence as catalysts to entrepreneurship success and national development. We shall be duelling on our discussion more on these entrepreneurial competences to see how they individually contribute to successful entrepreneurship, business success and national development. Poland’s Solidarity Movement; Pope John Paul II; and the American president reviled by Socialists, Ronald Reagan, brought down the Iron Curtain erected by Socialists to enslave hundreds of millions of human beings. It should be obvious that a defining feature of Socialist governments is walls to keep people in—as opposed to the usual purpose of walls: to keep people out. Say what? There is no finite amount of wealth. Bill Gates did not accrue his wealth by stealing it from the poor. There is no “transfer”. Anyone has the opportunity to create something, start a business, imagine an idea and market it. When they do so, and enhance their financial position, it is not a “tit for tat” thing. That does not mean that for every rich person, a poor person, or a group of poor people are doomed because someone already made their share of the money. Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium, and can be thought of as a guaranteed small loss to prevent a large, possibly devastating loss. An insurer is a company selling the insurance; an insured or policyholder is the person or entity buying the insurance. The insurance rate is a factor used to determine the amount to be charged for a certain amount of insurance coverage, called the premium. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice.
My final post relates to the relationship of leadership and entrepreneurship. To me, they are deeply linked at the hip. Great entrepreneurs have to be great leaders – in fact, there are very good scholarly assessments supporting this. There are some aspects and skills of entrepreneurship that go beyond the typical leadership training. In the lead article for the current issue of NEJM Catalyst Innovations in Care Delivery, Elliott Fisher, MD, MPH, professor of medicine and health policy at Dartmouth, and one of the policy leaders who developed the concept of Accountable Care Organizations, lays out a path to reform that would provide universal coverage, real-time data and performance measures, and more robust payment models that would enable the market to improve care for all through informed choice of population health organizations (PHOs), providers, and treatments. If the partnership is wound-up, the fair market value received by the estate becomes the proceeds for the partnership interest. If the partnership is sold, the sale price becomes the proceeds of disposition. The first quarter of 2009 posted the lowest growth in GDP (.4%). For the rest of the year, some entities have predicted zero growth for the country while others have predicted negative growth. As of the moment, the country has not yet met the technical description of a recession. But some people believe that it is just a matter of time before the country itself will hit this phase. The United States leads all other industrialized countries in the share of national health care expenditures devoted to administration. The cost of administering the U.S. health care system totaled nearly $156 billion in 2007, and that figure is expected to double—reaching $315 billion—by 2018. In addition, costs incurred by physicians in their transactions with health plans are estimated to be as high as $31 billion a year. When you expand into new markets you’ll enjoy a larger consumer base and increased brand awareness as consumers in the new market become aware of your products and services. Expanding into the global marketplace can also enhance your company’s reputation, by virtue of its ubiquity alone. As a global concern, you’ll enjoy a competitive advantage over local companies because customers will assume that you’re selling a better product or providing a better service than companies that provide basically the same products or services on a local level. Consumers get more excited about widely-available products and the ability of consumers around the globe to track and report on your company’s progress will only inflate your reputation the more.
A plan has three fundamental uses as an essential business tool: it is a communication, management, and planning tool all at the same time. If you start your auto tow truck business with one truck you won’t get in over your head too soon. With one truck you can manage your costs and determine if your actually net income matches your projected income based on your business plan. This also gives you an opportunity to examine weaknesses in your business if any. It also allows you to determine your strengths. This self-assessment is important because if you are aware of your strengths and weaknesses, you can make adjustments where necessary. Although it was the Republicans that set the stage for the current economic debacle, the Democrats aren’t blameless. They saw this as just as much of an opportunity to push their social engineering agenda as Big Money did for its profits. After the bill was sent to a conference committee to work out the differences between the Senate and House versions, Democrats agreed to support the bill if Republicans agreed to strengthen provisions of the Community Reinvestment Act. Which contained the legislation that pushed mortgage lenders to relax mortgage loan requirements so more low-income applicants could qualify. Things like allowing Food Stamps to be counted as income toward qualifying for the loans. Entrepreneurial leadership involves organizing and motivating a group of people to achieve a common objective through innovation, risk optimization, taking advantage of opportunities, and managing the dynamic organizational environment. IFRS has been adopted by more than 12,000 companies in over 100 nations and is becoming the global standard for the preparation of financial statements of public companies throughout the world. However, in the U.S., GAAP (General Accepted Accounting Principles) is applied. Recently, the G20 leaders have called for significant progress towards moving to one set of high-quality global accounting standards. President Obama also called for one set of standards and substantial progress to be made in 2009. Now SEC is working on an updated “roadmap” that will layout a schedule and major milestones for moving U.S. towards its adoption by all U.S. public companies. There are advantages and disadvantages of converting to IFRS, and various arguments have made for and against its adoption. It was later on introduced in Europe at the 17th Century when King Louis XIV WAS the head governor. Within that very century, the English men got a glimpse of it and decided to try using it for the purpose of business. At that time, there were no news papers and media services were non existent. The people at that time referred to it as a trade card and not a business card.
