Locate an organization (it can be any company, charity, or government office etc

Question

Locate an organization (it can be any company, charity, or government office etc.) reported in the news recently (within 2 years or so) in connection with some aspect of entrepreneurship or small business management that has positively or negatively affected it.

Prepare and provide a report, including the following;

• Provide a summary of the event and background information as needed.

• Identify the entrepreneurship or small business management factors that are involved.

• Report the actions or reactions from the organization or relevant parties following the event.

• Analyze the event, and provide your own conclusions and recommendations to the organization.

• Provide the link(s) to the selected news event(s).

Explanation / Answer

Provide a summary of the event and background information as needed.

Business and entrepreneurship skills and experience affect the propensity of individuals to become entrepreneurs and the likelihood of their success. There is some evidence pointing to the importance of these skills for innovative entrepreneurship. The issue of business and entrepreneurship skills and competencies is closely related to broader questions related to skilled labour, migration and attitudes toward entrepreneurship). Suitable education programmes to help develop entrepreneurial mindsets and company training in entrepreneurship skills are considered critical.

Skills refer to the abilities and capacities of people who perform tasks demanded of them in a work environment. Skills can either be generic, referring to general transferable skills, or specific to certain work functions, such as managing people, computing, dealing with risk and uncertainty, or developing a new product or service (Tether et al., 2005)

Skilled labour (see Skilled labour). Business and entrepreneurship skills and competencies allow innovative entrepreneurs to better identify and pursue business opportunities. They have specific skills critical to the success of innovative entrepreneurship, as they improve the ability of innovative entrepreneurs to manage risk and best utilize their resources.

• Identify the entrepreneurship or small business management factors that are involved.

. The factors identified were divided into the following:

• Factors listed in published articles and books that list skill factors from other studies.

• Factors listed in published articles that show strong evidence linking the skill factor to entrepreneurial success.

• Factors listed in published articles that link training and the said skill factors.

• Factors that are cited by professionals in entrepreneurship models, theories and theorems.

The external/exogenous factors Simpson defines the macro-environment as containing factors external to the company that present situational variables which may facilitate or inhibit entrepreneurship at start-up and during the SME lifecycle. This is supported by Dahlqvist et al, who expounds that these external factors present opportunities, threats and information affecting all entrepreneurs within that environment, regardless of their background, education or business concept. Guzman & Santos lists external factors to include socio-demographics, markets (local, international, emerging and established markets, cultural, economic, political, institutional, legal, productive, technological, infrastructure and other physical factors of that particular environment. Mazzarol, Volery, Doss & Thein and Viviers et al point out that these macro environmental factors are not controllable and the success of the SME often depends on management’s ability to deal with them.

Economic factors

Enterprise density is defined as the number of firms in a given population at a given time and refers to the percentage of existing and possible entrepreneurs

has an effect on entrepreneurship South Africa’s inflation figure of 11% in mid 2008 means that value of wealth decreases, consumers tighten their belts and thus there are fewer opportunities for entrepreneurs

• Report the actions or reactions from the organization or relevant parties following the event.

• Analyze the event, and provide your own conclusions and recommendations to the organization.

• Provide the link(s) to the selected news event(s).

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