Entrepreneurship and venture creation Essay Example | Topics and Well Written Essays - 4250 words

Entrepreneurship and venture creation - Essay Example In the current scenario, concept of entrepreneurship has expanded, in terms of including social and political activity. Entrepreneurs are often regarded as leaders who are even denoted as risk takers. These leaders undertake risks so as to accomplish set goals and explore market opportunities. Entrepreneurs are even inclined towards planning, employing and organizing resources. There are two forms of entrepreneurial skills – to improve upon existing product line or design a completely new product. Changing mind set is also observed within entrepreneurs and this leads to formation of social entrepreneur, knowledge entrepreneur, political entrepreneur, etc. Successful entrepreneurs basically possess two important attributes such as team building skills and management skills (Audretsch and Lehman, 2005). A new business idea is also generated by Marvin Hill as per the case study. Marvin Hill in present scenario is a multi-millionaire. He has been able to deliver creative ideas and develop solutions for market based problems. Marvin Hill had worked for Ford Motor Company since six years and then he decided to shift towards building his new business. He was determined to design computer aided software for providing assistance to engineering projects. This CAD software was a relief for many large scale organizations that undertake engineering projects. MarvCAD Inc., had been able to acquire desirable profit margins within few years of its incorporation. The company was more inclined towards addressing critical issues related to engineering products. Software quality designed by Marvin Hill was much higher and it was user friendly. Users could easily work with CAD in terms of facilitating search capabilities, visual, proprietary and website content, audio, etc. The different pieces of this software were highly customized and modularized. It enabled users to attach add-ins as and when required.

DE 8032 Essay Example | Topics and Well Written Essays - 1250 words

DE 8032 - Essay Example This is usually run by organizations for profit and contributions paid by people. Additionally, social insurance is also used where employees and employers make compulsory contributions in form of premiums to cater for non-employed individuals (Pauly, McGuire & Barros, 2011). The financing structure, as well as, payer mix is different in these different funding modes. This is especially so in the in the general taxation. General taxation is very efficient because of its containment aspect. Additionally, it’s financing strategy forces prioritization of cash limited healthcare budgets set by the government allowing tradeoffs with other public health priorities like reduction of poverty and education. There is a low administrative cost in this mode of funding and can assist individuals during difficult times. This is because of the fact that it draws revenue from a wide base in minimizing distortions in economic sectors. One of the organizations that has really benefited from this funding methodology is the National Cancer Institute. Additionally, national institute of health is another institution that is funded using the general tax. Organizations are usually dynamic structures that are managed like other systems and they usually function excellently when their components are designed to operate together efficiently and smoothly. Therefore, alignment of healthcare organizational mission, vision and values with the department, division as well as individual performance should be enhanced. Leaders can achieve this by building an efficient leadership system that integrates individual performance with the organization’s mission and vision. This can also be achieved obtaining and maintaining long-term support by the governing executives. This can also be achieved by allowing people to generate ideas which will enhance their performance and as well as cohesion. Leaders can embark on setting appropriate strategies that will enhance individual