What do you understand to be the concept of...

What do you understand to be the concept of entrepreneurship and why has it become such an important area of focus? Q2) What do you understand to be the concept of entrepreneurship and why has it become such an important area of focus? The concept of entrepreneurship is often viewed as a function, which involves the exploitation of opportunities, which exist within a market. Such exploitation is most commonly associated with the direction and/or combination of productive inputs. Entrepreneurs usually are considered to bear risk while pursuing opportunities, and often are associated with creative and innovative actions. In addition, entrepreneurs undertake a managerial role in their activities, but routine management of an†¦show more content†¦Entrepreneurship is the dynamic process of creating incremental wealth. Individuals who assume the major risks in terms of equity, time and/or career commitment or provide value for some product or service create the wealth. The product or service may or may not be new or unique, but the entrepreneur must somehow infuse value by receiving and locating the necessary skills and resources. Although each of these definitions views entrepreneurs from a slightly different p erspective, they all contain similar notions, such as newness, organizing, creating, wealth, and risk taking. Yet each definition is somewhat restrictive, since entrepreneurs are found in all professions: education, medicine, research, law, architecture, engineering, social work, distribution and government. Entrepreneurship is the process of creating something new with value by devoting the necessary time and effort, assuming the accompanying financial, psychic, and social risks, and receiving the resulting rewards of monetary and personal satisfaction and independence. Four basic aspects of being an entrepreneur regardless of the field: first, entrepreneurship involves the creation process—creatingShow MoreRelatedCreativity And Innovation As The Driving Power Of Entrepreneurship1610 Words   |  7 PagesBusiness management is a continuous process of problem solving, decision making, strategy development, process improvement, etc. Every organization is constantly subject to a number of pressures that force you to react and respond to new developments in dynamic markets like these, in times of uncertainty and globalization Hence the company is unable to change, modify it to adapt to new circumstances present and future risks stagnate or disappear. To prevent and conversely, grow, it requires the abilityRead MoreEntrepreneurship Is A Good For The Organization, Community, Or Country?1250 Words   |  5 Pages Entrepreneurship is a term that has reentered the public vernacular over the last few years, many times in reference to what is wrong with America but what it means is rarely defined. Furthermore, it is generally agreed that more Entrepreneurship is a desirable trait but how to go about encouraging it is again a point of contention. This paper will address a specific facet of entrepreneurship and attempt to discover what are the key drivers to foster an entrepreneurial spirit from childhood. Read MoreEntrepreneurship : An Organization, Community, Or Country?1253 Words   |  6 PagesLDR 280 Introduction Entrepreneurship is a term that has reentered the public vernacular over the last few years, many times in reference to what is wrong with America but what it means is rarely defined. Furthermore, it is generally agreed that more Entrepreneurship is a desirable trait but how to go about encouraging it is again a point of contention. This paper will address a specific facet of entrepreneurship and attempt to discover what are the key drivers to foster an entrepreneurial spiritRead MoreThe World Is Flat By Thomas Friedman1220 Words   |  5 PagesIndia will be a formidable player in the world’s global market. 4a.The first article, â€Å"The Bollygrach’s magic mix† dissects why family owned firms are encouraged and widely successful in India and why they continue to prosper. The article discussed two things in common that most successful firms have: complexity and conglomerates. Complexity is easy to explain and understand- long standing family rivalries tends to complicate business transactions when a company is upwards of generations old. TheRead MoreAnalysis of Joseph A. Schumpeter’s1505 Words   |  7 Pages1. Identify at least one point in this paper that the author claims is important for understanding what role entrepreneurship plays in society. The main point which Schumpeter emphasizes is that capitalism is an evolutionary process. He describes how it is an always moving concept and it â€Å"not only is but never can be stationary.† Schumpeter goes on to state that the evolutionary process of capitalism is not due to the fact that the â€Å"economic life goes on in a social and natural environment,† meaningRead MoreImportance Of Entrepreneurship During The 21st Century Essay1572 Words   |  7 Pages IMPORTANCE OF ENTREPRENEURSHIP In the last two decades, the citizen sector has discovered what the industry learned long ago: Nothing is as powerful as a new idea in the hands of a first-class businessman. Social entrepreneurs are individuals with innovative solutions to the most pressing social problems of the solutions of the company. They are ambitious and persistent, tackling major social issues and offering new ideas for big changes. Instead the social needs of the governmentRead MoreWhat Entrepreneurship Is And The Advantages Of Being Or Becoming An Entrepreneur2954 Words   |  12 PagesIntroduction This assessment will be concentrating on what entrepreneurship is and the advantages and disadvantages of being or becoming an entrepreneur. Despite having many definitions in literature, the core elements of the entrepreneurship can be underlined as risk and profit. The entrepreneur is an agent who needs to measure and tackle the risks; in return the entrepreneur gets the profit or has to face failure. The success of the entrepreneur depends heavily on the way he plans the businessRead MoreA Research Study On Management1710 Words   |  7 Pagesgrasp some of the key concepts one needs to acquire to become effective in management. I was able to gain the knowledge for these main ideas through the small group projects, the in/online class discussions, and the analyzed paper we ve completed thus far. Overall, BUS 250 has demonstrated the importance of teamwork, leadership, organization/planning, personality traits, social responsibility, decision making, ethics, along with various othe r key concepts I will share with you. To begin with, asRead MoreThe Different Education Exam Systems1266 Words   |  6 Pagesand connections with them, and learn to know the reasons why different countries has different education system. I am going to talk the teaching style and education purpose in three countries, China, America and Japan. As for teaching style, This will determine the interests for students. If a professor could make his or her class more funnier, students would be willing to go to his or her class and listen carefully. But how to do this, from ancient to now, teaching style is always theRead MoreAssignment Writing Guide in the Australian Institute of Business5832 Words   |  24 Pages ©Australian Institute of Business . 1 V8Dec13 Assignment Writing Guide INTRODUCTION While your assignment comprises only 25% of your subject grade, it serves an important function in helping you focus on the concepts and clarify your learning. In this sense, the assignment prepares you for the exam, which is much more heavily weighted at 75%. Scoring well on the assignment can sometimes mean the difference between a pass and a fail for the subject – or a high distinction versus just a

accounting for managerial decisions - 689 Words

Topic 5 Homework Questions – Solution 1. Resources that are used in operations for more than one year with no physical substance are called: a. current assets b. intangible assets c. non-current assets d. property, plant and equipment 2. Able Company purchased land and incurred the following costs: Purchase price $1 000 000 Excavation costs 100 000 Removing old building 25 000 Broker fees 20 000 Cost of a parking lot 50 000 What is the cost of the land? a. $1 100 000 b. $1 195 000 c. $1 145 000 d. $1 125 000 3. Which of the following costs related to the purchase of production equipment incurred by ABC Company during 2013 would be considered an expense (revenue†¦show more content†¦not be amortised, but should be reviewed annually for impairment b. be reported on the statement of retained earnings in the year in which acquired c. be amortised over a reasonable period of time, not to exceed 40 years d. be debited to an expense account entirely in the year in which acquired 6. Information for Everett Evacuators for 2013 and 2012 is presented below. Everett uses the straight-line depreciation method. 2013 2012 Non-current assets $250 000 $190 000 Accumulated depreciation 100 000 85 000 Depreciation expense 62 500 47 500 Total revenues 1 000 000 900 000 Total assets 625 000 475 000 Using the data for 2013, determine the average useful life of Everett s non-current assets rounded to one decimal place. a. 1.6 years b. 2.5 years c. 4.0 years d. 10.0 years 7. On 1 July 2013, XYZ sold a piece of equipment for $30 000 which it had used for several years. The equipment had cost $45 000 and its accumulated depreciation amounted to $20 000 at the time of the sale. What are the net effects on the accounting equation of selling the equipment? a. Assets and equity increase $30 000 b. Assets decrease and equity increases $5 000 c. Assets and equity increase $5 000 d. Assets and equity decrease $5 000 8. Wong purchased equipment at the beginning ofShow MoreRelatedDecision Making With Managerial Accounting1563 Words   |  7 PagesDecision Making with Managerial Accounting Accounting is the process charged with the identification, measurement and the communication of economic information in the aim of allowing the desired users in making the correct decisions and judgments. Accounting has two branches depending on the users. Managerial accounting isuseful to core users unlike financial accounting which is more essential to exterior users. Management accounting is, therefore, the identification, analysis, recordRead MoreDecision Making in Managerial Accounting Essay2639 Words   |  11 PagesManagerial accountants need to use accounting information in seeing to it that they are able to plan, evaluate the company performance, manage risks and control the business operations in a manner that is deemed beneficial to the business as a whole (Caplan, n. d). This can be achieved through: having high standards of ethics in all situations; employing the techniques of management reports, budgetary control, and analysis of fund flows and financial statements; making prudent capital investmentRead MoreDecision Making Techniques in Managerial Accounting876 Words   |  4 PagesManagerial accounting comprises all the financial information needed to help managers make educated decisions and do their job duties efficiently. A typical manager’s responsibilities with managerial accounting include interpreting finance reports and projections and using those to make financial decisions that will affect the company. 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Financial Services FarmersRead MoreEthical Decision Making on Various Managerial Accounting Issues6054 Words   |  25 PagesJAMAR Vol. 2  · Number 2  · 2004 Ethical Decision Making on Various Managerial Accounting Issues Arnold Schneider* Abstract This study examines five managerial accounting issues that have ethical implications. These issues are based on situations described in managerial accounting textbooks. To induce truthful responses, an approach called the randomized response technique is used. With this technique, estimates are obtained for responses to sensitive questions relating to the five issues. ResultsRead MoreManagerial Accounting1152 Words   |  5 PagesManagerial Accounting 12/3/15 Managerial Accounting Accounting is a crucial part in running a business. There are various forms of accounting that can be used, it is very important to know which technique is best to use for what companies. Once you figure out a particular technique to use, it is important to keep an open mind if there are any changes that need to take place in the business. By keeping an open mind helps the business adjust and be able to make the right decisions. Every businessRead MoreManagerial Accounting And The Certified Management1408 Words   |  6 PagesManagerial accounting is used by an organization to ensure informed decisions are made regarding current and future operations. Businessmen and women must have the ability to comprehend financial information provided to properly determine the correct course of action. In the global market of today, an organization’s inability to accurately determine the best course of action can lead to financial ruin for the company. Uninformed decisions by leadersh ip can derail a business’ prospects for successRead MoreRole Of Managerial And Managerial Accounting1029 Words   |  5 Pagesof managerial accounting has played a significant role in the success of businesses dating as far back as the 19th century. Service and production operations during the days of the industrial revolution were not nearly as sophisticated then as they are today. The current initial purpose of managerial accounting is comparable to its purpose throughout history. Managerial accounting has historically been useful in assisting managers with the information they need to make important decisions aboutRead MoreDifference between Financial and Managerial Accounting 637 Words   |  3 PagesThe primary difference between financial and managerial accounting is that financial accounting is used for external members of the company; they do not control or run the businesses’ operations. An example of external members would be customers and shareholders o f the business. On the other hand, managerial accounting is used for internal members in the company such as managers and officers. The internal members use managerial accounting to increase efficiency and effectiveness within their companyRead MoreManagerial Accounting vs Financial Accounting Essay761 Words   |  4 PagesManagerial and Financial Accounting ACCT/300: Principles of Accounting April 9, 2008 Managerial and Financial Accounting This paper will attempt to differentiate between managerial and financial accounting, the users of managerial and financial accounting and what type of business decisions would be made with the information. Managerial Accounting Managerial accounting provides accounting information to managers who are inside an organization and who directs and controls its operations

The Foreshadowing of Tragedy in the First Five Chapters Free Essays

A reader who is skimming through the novel ?The Great Gatsby’ by F. Scott Fitzgerald might consider a happy ending by the end of the fifth chapter, however at a slightly more detailed look there are clear signs that indicate that a tragic and miserable ending is the only possible one. This essay will be looking at how Fitzgerald foreshadows tragedy, and how he presents tragedy in the lives of the novel’s characters. We will write a custom essay sample on The Foreshadowing of Tragedy in the First Five Chapters or any similar topic only for you Order Now One of the indicators for Gatsby failure is the unstableness of the harassers he is depending on. This begins with the woman he loves, Daisy Buchannan. Daisy’s life is a tragedy in its own, because she married the wrong man, who is cheating on her, as she was too weak to follow her conscience and wait for Gatsby to return from the war. Nick, the narrator of the novel and her second cousin once removed, expects her to â€Å"rush out, child in arms† (chapter 1), but she stays in her unhappy marriage. Thus it is clear that Daisy is rather shallow, and without enough confidence to contravene social conventions. Having this in mind, one cannot e sure if she would resolve to go with Gatsby, once it comes to a conflict with her husband Tom. This conflict is easily predictable with the knowledge about Tom Buchannan character. He is an aggressive, â€Å"unrest† (chapter 1) man, bursting with potency and confidence, but already behind his zenith, as his best years were those in college. He would never tolerate a rival, even though he has an affair himself. The way he and his wife are living contains signs of tragedy as well: they both are eternally restless, chasing after pleasure and trying to fulfill themselves with enormous spending of money. Fitzgerald criticizes the high-society vulgar pursuit of material happiness of his time with these characters. He uses zephyr, blowing wind, to symbolism the Buchannan chaotic lifestyle. Already in his first appearance, Jay Gatsby carries indications of a tragic character. In this Nick sees him staring at the water: â€Å"He stretched out his arms toward the dark water in a curious way, as far as I was from him I could have sworn he was trembling. Involuntarily I glanced seaward – and distinguished nothing except a single green light C†¦ † (chapter 1). Later it becomes clear that the green light comes from Daisy Buchannan dock, it is a symbol of Gatsby desire to win her back. His unquestioning love for Daisy made him follow her for five years and buy a huge mansion next to her. It is the contrast between the two that indicates a tragedy: whereas Gatsby would do anything to fulfill his dream, Daisy is more likely to stay in the safe live she is – and it is clear that Gatsby would not be able to live without her. Besides, Nick describes him being â€Å"pale as death† (chapter 5) when he waits for Daisy to arrive. This foreshadows the bad influence Daisy will have on him. In chapter four Nick describes Gatsby party guests. Although he does not say it, it is clear that he sees them as superficial, materialistic and immoral: â€Å"they were never quite the same ones in physical person, been there before†. These people always use the situation for their profit and they gossip about Gatsby history at his own party. None of them can be regarded as a friend who would support Gatsby in case of a conflict. In Fitzgerald view, America’s white high-society is tragic, because it postulates morality, but is false and superficial. Fitzgerald ironically uses a line of the song â€Å"Mint we got fun† to emphasize his criticism: â€Å"One things sure and nothings surer/ The rich get richer and the poor get – children† (chapter 5). In the Greek belief, tragedy is always caused by chaos. Regarding the flighty, erratic lifestyle of most of the characters in the novel, there must appear a conflict, a tragic moment at some point. The catastrophe is foreshadowed by the car breaking a wheel n the ditch after an excessive and chaotic night. And although Gatsby doesn’t want to â€Å"do anything out of the way’ (chapter 5), he is involved in illegal activities (shown by his connection to the known criminal Wolfishly and his calls to Chicago). His lax handling of legality is a form of chaos that is likely to become his undoing. Thus, in conclusion, chaos is an important key to the tragedy in the end because it has been obvious that the more unstable and unreliable the characters and their actions are, the easier an event ends into a catastrophe. How to cite The Foreshadowing of Tragedy in the First Five Chapters, Papers