Starting a Small Enterprise Essay Example For Students

Starting a Small Enterprise Essay StartingaSmallEnterpriseStarting a Small EnterpriseTABLE OF CONTENTSPageIntroduction Why Be an Entrepreneur? Rewards of Entrepreneurship. Risks of Entrepreneurship We will write a custom essay on Starting a Small Enterprise specifically for you for only $16.38 $13.9/page Order now 334Process Flow: Starting a Small Enterprise.. 5Analysis Are You Entrepreneurial?. Additional Factors to Consider.. 67Decision-Making/PlanningDetermining Your Product Line. Types of Business According to Ownership Writing a Business Plan. 889FinancingDetermining Your Financial Requirements.. Seeking Sources of Capital. Rules for Sound Financing.. 121214Setting Up Choosing the Site/Location of Your Business Registering Your Business.. Hiring/Training Personnel. 151522Getting Your Business Started 24References 25Introduction Why Be an Entrepreneur? Entrepreneurship is a way of life.Being entrepreneurial means being able to identify, start, and maintain a viable and profitable business, particularly a small enterprise.People spend most of their lives working for someone else.Some people eventually rise to positions of wealth and power, while the rest languish in unchallenging and low-paying jobs.On the other hand, there are a select few who strike it out on their own; rather than work for others, they put up their own enterprise. You may ask: Why should I risk my resources in an unpredictable business when I could hold a stable job with a permanent tenure and an assurance of a regular monthly income, without any risk?In other words, why be an entrepreneur rather than an employee?Entrepreneurship has its own rewards, as well as its risks.Having your own business has tremendous rewards, but be sure to weigh prospective returns against the potential risks and losses. Rewards of Entrepreneurship Have Unlimited Opportunity to Make Money When you have your own business, you will most certainly have unlimited potential to earn money.How much money you earn depends on the time and effort you put into your enterprise. Successful entrepreneurs have earned their wealth and prestige through hard work and by having the right product for the right market at the right time. Be Your Own Boss As sole proprietor of your business, you make the decisions for your enterprise and take full responsibility for them.The quality of these decisions will translate into either gain or loss for your business. Being your own boss means you are in control of your future.You have a better grasp of what you want to be. Tap Your Creativity A business usually starts out as an idea.You will have the opportunity to harness this creativity and turn your idea into products and processes. Overcome Challenges and Feel Fulfilled Starting a business is by itself an accomplishment.Running a business tests an entrepreneurs capability in securing and managing resources.How well a business turns out depends on the owners ability to face challenges and overcome them. Risks of Entrepreneurship Risk of Failure Small businesses are prone to risks and the possibility of failure a single wrong business decision can bring a business to bankruptcy. Unpredictable Business Conditions A small business is vulnerable to sudden changes in the business environment.In a fast-paced industry, a small firm may not possess the financial capability nor the organizational capacity to respond adequately to new opportunities and their concomitant problems. Long Hours of Work A prospective entrepreneur must be ready to spend most if not all his waking hours immersed in the business.Also, family time and personal affairs may be jeopardized. Unwanted or Unexpected Responsibilities The entrepreneur may eventually find himself saddled with management responsibilities he did not bargain for.Process Flow: Starting A Small EnterpriseSelf-Analysis: Are You Entrepreneurial?Considering Other FactorsDetermining Your Product/ Service Line and Type of BusinessWriting a Business PlanDetermining Your Financial RequirementsSeeking Sources of CapitalChoosing the Site/Location of Your BusinessRegistering Your BusinessHiring/Training PersonnelGetting Your Business StartedAnalysis Are You Entrepreneurial? A successful entrepreneur possesses key characteristics that help his business grow and thrive.Extensive research by the Small Enterprise Research and Development Foundation reveals 10 Personal Entrepreneurial Characteristics (PECs) that lead to success. These are grouped into what are called the Achievement Cluster, the Planning Cluster, and the Power Cluster. Take a look at what

Alzheimer essays

Alzheimer essays Alzheimers is the death of the mind before the body. (1) This definition of Alzheimers is very simple, but very true; it sums up the disease in one simple statement. Scientifically Alzheimers is a progressive, neurological disease, in which plaque and tangles, composed primarily of protein, build up on and in neurons respectively, in the hippocampus and interfere with memory, thinking, language skills and behavior. (2) It is still unclear whether these structures cause the disease, or if they are a byproduct of it. The disease is named after a German physician, Dr. Alois Alzheimer. In 1906 he did a case study on a 51-year-old woman who suffered from a brain disorder, and her brain autopsy showed the same plaques and tangles that are used to diagnose Alzheimers today. The cause of Alzheimers is still unknown. (2). However current research is finding that there can be several contributing factors such as genetics, head injuries, age, neuron damage from free radicals, brain inflammation, and environmental factors. Age being the most important risk factor. There are also two types of the disease: sporadic and familial. Familial Alzheimers follows an obvious inheritance pattern, however less than ten percent of Alzheimers cases are familial. If this were the more prevalent form of the disease it would be much easier to predict and therefore one could start preparing far in advance, because this type can strike as early as 30. Scientists have made great advancements on the genetic front of the disease. They have zeroed in on three mutations on chromosomes 1, 14, and 21 that cause early-onset Alzheimers disease, which affects people within the ages of 30-60. They have also found information on late-onset Alzheimers, and other genes they believe increase susceptibility to the disease. There are two general categories of Alzheimers symptoms:...

Education Essay Example | Topics and Well Written Essays - 1000 words - 23

Education - Essay Example All this can be attributed to the grade inflation taking place in the countrys education system where students are credited with honours they do not deserve if the standard grading system was to be used. For example, according to a study done in1993, more students received grade A, while fewer students received grade B (Alfie, 2002). This was in comparison to the grading of graduates from the year 1969 and 1976. Does this mean that students graduating in1993 studied harder than those students of 1969 and 1976? This is not the case. This simply shows the diminishing quality of education over the years in the United States of America. This paper will examine the report of the committee on raising standards by establishing the fact that indeed grade inflation is present in the United States Education System It is evident that there is an increase in students grades while there is lacking a corresponding shift on achievement. However, the main issues concerning motivation and grading are being ignored or obscured. One major issue that contributes to grade inflation is the fact that substantiating such claims has been difficult. This is because reports revealing grade inflation are often self-reports, which are rendered unreliable by the government and stakeholders in the education sector. For example, in the study done to study the grades in 1993 and those in 1969 and 1976, the survey did not substantiate the grades that were gotten in 1969 and 1976, thus they cannot be compared to establish the true facts (Alfie 2002). However, other researches done have been used by the government and stakeholders to show the â€Å"accurate† scenario with regard to grade inflation. Clifford Adelman conducted such a study where, he compared over 3000 transcripts (Alfie 2002). According to this research, grades had actually dropped in the past two decades. The main question here is

Should governments use positive discrimination policies to increase Essay

Should governments use positive discrimination policies to increase the representation of women and ethnic minorities - Essay Example There have been arguments that a similar thing, defined as positive discrimination or affirmative action, should also happen for ethnic minorities and should be expanded for women (Anderson, 2014: p22). The prejudice against women and ethnic minorities in representation is undisputed and positive discrimination represents the best way to redress the disparity in the short term. Today, there exists a vicious circle in which ethnic minorities and women prefer not to stand for elections, due to prejudicial attitudes against them (Pincus, 2013: p27). Positive discrimination is the best way to offer them encouragement to run for office and, if one or two generations are given the opportunity to run through positive discrimination, this would push forward the agenda and need not be a permanent measure. There are those who argue that the coming generations need role models, rather than individuals running for election to make up the numbers, especially claiming that ethnic minorities and women are capable of election without help from male colleagues (Cohen et al, 2007: p38). However, given the prevalent institutional racism and sexism in the UK, for example, it would be very difficult for women these groups to make it past the selection committee. Implementing positive discrimination for elective posts would also enable ethnic minorities and women to speak on issues that only they can, such as workplace inequalities and the family (Mosley & Capaldi, 2011: p40). These topics are still seen as being of less importance to the more preferred foreign and economic policies. By using positive discrimination, more ethnic minorities and women will be elected, encouraging social policy debate. Opponents of this strategy contend that even where female politicians are elected to public office, such as Angela Merkel and Margaret Thatcher, they still deal with topics that are traditionally male (Daye, 2011: p42). The same can be said of

International Trade and Finance Law Essay Example | Topics and Well Written Essays - 1750 words

International Trade and Finance Law - Essay Example Not relying on the fact that crisis was caused by retarding market demand and financial mishap rather than ostensible anti-inflammatory guidelines, as has been the crisis case since 1945. Japan is the only nation among stable economies accustomed to this type of recession and this is as a result of the past-bubble downfall of the 1990s. For emerging economies, the case was quite different, as much it may have been associated with a rich economy: emerging economies had a deeper conventional trend that begun by a flow in inflation in 2008, which made many Asian countries to adopt tough anti-inflammatory regulations. Then the effects of such policies were witnessed at world trade level after Lehman and associates went bust in 2008; this saw poorer countries in Latin America and Africa feel the hitch of shortage of raw materials from China and India. Several players are behind the crisis that took the world by storm. One of the major bodies that are keenly looked at is the International Centre for Financial Regulation (ICFR). Based in London, ICFR was formed by U.K government in collaboration with international financial institutions with an aim of monitoring financial activities and coming up with international policies that would guide matters related to finance across the globe1. ICFR has been mandated to form laws that will enhance proper trade and should guide the global economy. Critics have been concerned about how such bodies carry out their activities; this is as a result of constant financial rescissions that have rocked the globe in the recent past. Some argue that such bodies should be abolished so that each country forms its own rules to govern trade. Other critics argue that the institution should consider reviewing its policies so as to avoid such crisis. ICFR members are claiming not to be blamed future expectations are unpredictable and cannot be fixed while coming up with such regulations. Even though the ICFR may defend its reputation, outcry has persisted and several fingers pointed towards the organization. Some of crisis effects such as guarantees and bail-outs have proved the organization to be unstable. Much of consequent regulatory agenda debatably reflects the need to tackle such weaknesses rather than implementing well investigated optimum governing solution. As a result, high leverage that was manageable only under circumstances of growing investor confidence and asset price is considered to be a weakness form the body. Weak governance, remuneration and accountability culture within financial bodies has been a factor as well behind downfall of the organization. Some analysts accuse the organization of hysterical and unorganized creation of liquidity to imbalance and motivate countries to invest in financial assets present in deficit countries. Other organizational weaknesses are pointed out they need attention to avoid plunging the world economy in such financial jeopardy; these include but not limited to: emergenc e of increased and uncontrolled ‘shadow banking’ segment and adoption of complicated financial tools and techniques that made risk disperse all over the global financial division and relevant interdependencies created, as well as missing public information on the extent and distribution of risk occurring in the financial system. Some commentators characterize the emergence of these, at least not wholly, to

A case study on supermarket management system

A case study on supermarket management system INTRODUCTION Problems can be solved by systems. Systems approach is an organized way to deal with problems. In this dynamic world, a wide variety of system development methodologies have evolved over the years, each framework with its own strengths and weaknesses (Paul, James Peter, 2004). This report will focus on waterfall type through analyze the process of EQs supermarket management system development. SYSTEM LIFE CYCLE System lifecycle is a structured process of developing and maintaining systems. It lists all processes and sub-processes required while developing a system. A combination of various activities in system development is referred as system development lifecycle (Kà ¤Ãƒ ¤rià ¤inen and Và ¤limà ¤ki, 2008). 1. PHASES OF SYSTEM DEVELOPMENT LIFE CYCLE 1 .1 SYSTEM STUDY System development life cycle starts from system study. The system study separates in two phases. Firstly, a survey will help the designer to identify the scope of the system. Secondly, a depth investigation will help the designer understand users requirements and problems. Generally, a system proposal will carry out by analyst and offer to user to ensure the content is correct (Steven Glenn, 2005). EQ defined YDL as a small sized supermarket. The owner of YDL wanted to reduce employee (keep two people at most), monthly report can be presented faster and establish a membership system. 1.2 FEASIBILITY STUDY Based on system study, feasibility study takes place. The proposed system should be tested during this phase in four aspects: workability, requirement fitness, effective use of resources and the cost effectiveness (Steven Glenn, 2005). The main objective of this phase is achieving the scope. To achieve the scope, EQ assumed the SMS have six main functions, they are: sales, reporting, goods ordering, membership management, expired offers and inventory management. This proposed system only needs two people, which are cashier and inventory manager. Order goods and generate financial statement can be done by the system automatically. Therefore, a sub-system called membership management was added into this SMS. 1.3 SYSTEM ANALYSIS If a new system is decided to develop, the next phase is system analysis. It is a depth investigation based initial investigation and user requirements. Detailed data flow diagrams (DFDs), data dictionary, logical data structures and miniature specifications should reflect user requirements. Identification of data store, sub-dividing of complex process, and manual processes also should be included in system analysis (Steven Glenn, 2005). EQ established its project schedule, listed all major activities and tasks in WBS (Work Breakdown Structure), and the deliverables and milestones were also announced in the schedule. Task Description Duration Assigned Role Task Input Output Requirements Specify requirements General introduction about the system 1 week Management Team Team liaisons A requirements document, A architecture design document (system design document), A object design document, A test plan, A project plan. System/subsystem, and requirements overview 2 weeks Documentation Team Requirements elicitation General constraints, assumptions and dependencies 2 weeks Functional requirements 2 weeks External interface 1 week Non-functional requirements 1 week Milestones R 5 documents Design Design the architecture of the systeml System organization design 1 week Architecture Team A architecture design document System source code Subsystem design 2 weeks Architecture Team Asystem design document Design the user interface User interface design 2 weeks User Interface Team A object design document Milestones D System source code Development Design the specific objects of the system Database and configure the server 1 week Database Team System source code System User interface Programming 3 weeks User Interface Team Layout design 3 weeks User Interface Team Design the specific objects of the system Connection between subsystems 1 week Control Team Milestones De The system that is available to use Validation Implement the system Test the user interface 1 week User Interface Team System source code A document about the problems that the system still needs to be worked on Test the database 1 week Database Team Evaluate the system List the functions and problems 1 week Documentation Team Milestones V A document about the problems that the system still needs to be worked on Evolution Validate the system Adapt the user interface 1 week User Interface Team A document about the problems that the system still needs to be worked on Final system Adapt the database 1 week Database Team Adapt and improve the system Recheck the whole system 1 week Management Team Documentation Team Final system A document about the functions that the system can provide Milestones E Final system can be provided to client Source: http://www.docin.com/p-41243574.html Source: http://www.docin.com/p-41243574.html 1.4 SYSTEM DESIGN System design is the most crucial phase in system development lifecycle. Generally, the design advances in two stages: general design and detailed design. In general design process, the features of the system will be specified; costs and benefits of these features will be estimated. In detailed design stage, computer oriented work starts at first. Structure design becomes the blue print of system solution to those problems mentioned in system analysis phase. Furthermore, the programming language, the platform, input, output and processing specifications will decided in detail in this stage (Steven Glenn, 2005). Several tools and techniques used for designing are (Steven Glenn, 2005): Flowchart Data flow diagram (DFDs) Data dictionary Structured English Decision table Decision tree Based on the scope of this supermarket and proposed system, EQ used C/S model as development model. The source code were written in JAVA, Server hardware and software environment: â€Å"Hardware: IBM System x3200 M2. The x3200 M2 offers the latest quad-core Intel Xeon processor (up to 3.16 GHz/12MB/1333MHz), 4 GB memory (DDR II 800MHz), expansion slots (2 PCI (32-bit/33 MHz),2 PCI-Express (x8,x1), Remote Supervisor Adapter II), 4.0TB SATA HDDs hard drive. Software: Microsoft Windows Server 2008, MySQL Cluster 7.0, Avast! Anti-virus Server 4.8.1091, JDK 6 Update 16 with NetBeans 6.7.1† (E-Qun, 2009). Source: http://www.docin.com/p-41243717.html Source: http://www.docin.com/p-41243717.html 1.5 CODING TESTING After designing, the whole system should convert into computer understanding language. The programmer uses computer understanding language to write programs to coordinate the data movements and control the entire process in the system (Steven Glenn, 2005). Before implementing the whole system, a test run is done to remove all bugs and measure the stability of the system (CMS, 2009). Firstly, individual units of the system should be tested. Any uncertainty happening must be recorded and debugged. Then, in compliance with test plan, a given set of test data will put into the system. The outputs of the test run should be analyzed. If theres any output did not match the expected output, the errors in the particular program or system should be identified and fixed and further test should be done until the outputs match the expected results (Parkin, 1997). Modular development technique was used in this coding and testing phase. EQ divided the programmers in two team, database team and user interface team. Each team focus on their own area. Source: http://www.equn.net/product_1.asp Source: http://www.equn.net/product_1.asp 1.6 IMPLEMENTATION During implementation phase, the system is loaded onto the users computer. Then, user training starts. Generally four topics will be introduced to users: execution of the package, data input, data processing and reporting. After users are trained, computerized working begins at following two strategies (operational): parallel run or pilot run. Parallel run means in a certain period, both systems (i.e. manual and computerized system) are executed in parallel. Pilot run means the new system installs in parts. Some parts executed first and ran in a defined period. Other parts will be implemented only if the results satisfied the expected results (New York State Office, 2009). After five days training, two employees from YDL had mastered the operational skills. In the later month, manual working and computerized working were running in parallel to avoid the potential failure of system. 1.7 MAINTENANCE Maintenance means error correction and upgrade during the systems working life. Because of there always have some errors found in the system, system review is necessary to note and correct these errors. In addition, from system review, the developer can know the full capabilities of the system, required changes and the additional requirements. If a significant change needs to be executed, a new project has to be set up and proceed through all the life cycle phases (New York State Office, 2009). Currently, EQs supermarket management system is running in YDL. The supermarket had reduced 2 members. Nearly 500 people were registered as members. Moreover, the owner of YDL wants to turn his business to chain-store operations. EQ has started to evaluate this project. DISCUSSION According to Paul Davidson et al. (2003), waterfall model fits the situations where most appropriate that project has clear objects and solutions, the requirements are comprehensive and stable and etc. In this case, the lifecycle of this supermarket management system shows that E-Qun Web-Studio used waterfall method. This framework type is linear: Those deliverables and milestones were measurable. The whole project was divided into phases; emphasized on planning, time management, target dates and system implementation at one time; maintained control of project through using extensive documents such as project plan, test plan, etc. CONCLUSION To sum up, the lifecycle for information system development is mainly make up of eight aspects. They are system study, feasibility study, system analysis, system design, coding, testing, implementation and maintenance. Linear type is the simplest framework to develop the system (Paul et al. 2003). In small information system, if the system is not extremely complex, requirements are stable and can be identified easily, project team is less experienced and project schedule is unambiguous, it is strongly recommended that this project uses waterfall method as the develop methodology (Paul et al., 2004). REFERENCES: Alter, S and Browne, J, 2005, ‘A Broad View of Systems Analysis and Design, Communications of the Association for Information Systems, Volume 15, 2005, pp. 981-999, CMS, 2009, Testing Framework Overview, Centres for Medicare Medicaid Services, Available at: http://www.cms.hhs.gov/SystemLifecycleFramework/Downloads/CMSTestingFrameworkOverview.pdf [Accessed at 23th Dec, 2009] Davidson, P, Hedrich, R, Leavy, T, Sharp, W, Wilson, N, 2003, ‘Information Systems Development Techniques and Their Application to the Hydrologic Database Derivation Application, the Centre for Advanced Decision Support for Water and Environmental Systems, Available at: http://cadswes.colorado.edu/PDF/RiverWare/DavidsonLV2002.pdf [Accessed at 28th Dec, 2009] E-Qun Web-Studio, 2009, About Us, E-Qun Online, Available at: http://www.equn.net/aboutus.asp [Accessed at 29th Dec, 2009] Fisher, P, McDaniel, J Hughes, P, 2004, ‘System Development Life Cycle Models and Methodologies Canadian Society for International Health Certificate Course in Health Information System, Module 3: System Analysis Database Development, Part 3: Life Cycle Models and Methodologies. Available at: http://famed.ufrgs.br/pdf/csih/mod3/Mod_3_3.htm [Accessed at 14th Dec, 2009] J. Kà ¤Ãƒ ¤rià ¤inen and A. Và ¤limà ¤ki, 2008, ‘Impact of Application Lifecycle Management A Case Study, Enterprise Interoperability III, New Challenges and Industrial Approaches, Springer London Press, London New York State Office, 2009,System Implementation, Project Management Guidebook, Release 2, Available at: http://www.oft.state.ny.us/pmmp/guidebook2/SystemImplement.pdf [Accessed at 22th Dec, 2009] Rodney Parkin, 1997,Software Unit Testing, IV V Australia, Available at: http://www.ivvaust.com.au/UnitTesting.pdf [Accessed at 20th Dec, 2009]

Cultural Aspects of Korean Boshintang :: Papers

Does Korean plan to serve Boshintang soup for the visitors to Seoul during the World Cup tournament? This is one question from an American to Korean English newspaper last month, condemning Koreans for eating dog as cruel abuse to animal. Some of the Western media treat Koreans as savages for eating dog meat and put it on the air as a most intriguing piece of news. As well, many international people who know something of Korea or visit to Korea always ask about this dog-eating. And then, how should we react to this issue? Should we scold them back for lacking of understanding others? Or should we really feel embarrassed about this old part of our culture and throw away like old shoes? Boshintang is apparently our traditional food habit, which can be irrational and not easy to understand for foreigners. But whenever Koreans were heard criticism or asked about it, most of them could not defend themselves or answer the question logically. We have to know that it is our responsibility to inform them the right view of thinking. I am here now to give some interesting informations about ou r eating habit to look at it in a new light. What we eat or not is patterned by culture. Some eating habits may seem disgusting to others who don't share the same culture. A sense of cultural superiority is wrong because every culture is a specialized adaptation of environment. Korea is very cold during the winter, so it was difficult to raise cattle a long time ago. Besides, bullocks were the essential farming animals that pull plows and carts. As a result, generally eating beef in Korea was very uncommon to people. So Korean started to raise dogs which grew well even in the cold weather and without special food or care to obtain insufficient nutrition. Many westerners think that dogs have been bred for centuries to be man's best friends or even family, and not to be livestock. But Korean concept of dog is very different. There are distinct differences between human and animal in Korea. Many Koreans even don't like living with any animal under the same roof of the house and get them their own home outside. As well, the family relationship has been very strong in Korea, so they don't treat dogs as pets in the western way. That's why Koreans do not have much affection for dogs, which is usually given to eat leftovers and manure traditionally.