Minor in Entrepreneurship Assignment Example | Topics and Well Written Essays - 750 words

Minor in Entrepreneurship - Assignment Example Here are some of the issues you need to understand when launching and building a new business: 1. Industry Characteristics 2. Competitive Rivalry 3. Influence of Suppliers 4. Substitute Products Most successful entrepreneurs develop an intimate knowledge of these factors by working in the industry in which they start their business. If they haven’t held a job in the industry they are serious and frequent product consumers. Personal experience in the industry provides excellent exposure to the products, services, suppliers, important contacts, competitors, strength and weaknesses of competitors, key customers, channels of distribution, and marketing strategies. In nearly every success story we have collected, extensive experience in the industry revealed the missing piece that led to the business opportunity. Successful entrepreneurs continue to experience their industry first hand after they launch their new venture. All organizations exist in geographical space; the center is the furthest away from customers; the boundary is the place where customers, products, and competitors all interface. Thriving business builders spend a great deal of time in the boundary of their organization rather than inside an office: they interact with customers, work with front-line employees, and study their competitors’ products and services. Living in the boundary provides personal and up-to-date information about new innovations, reactions from consumers, tactics of competitors, changing conditions, and new business opportunities. Abraham Lincoln, one of our greatest American presidents, is a superb example of â€Å"living in the boundary† in the political arena. According to Lincoln, the best way to assess an opportunity was to gather data personally. During his first few years in office, Lincoln spent more days out of the White House than he did in it. He inspected every state regiment that passed through Washington, D.C., he met with his generals in the field, he spent time with the troops in their encampments, he visited the wounded in hospitals, he spent many days in the telegraph office at the War Department to obtain real-time information, he studied new weaponry, and even took charge of several battles, coming under fire on more than one occasion. This approach gave Lincoln first-hand information for quick decisions and effective strategies without having to rely on second- or third-hand information from others (Donald Phillips, Lincoln on Leadership, New York: Warner Books, 1992). In like manner, successful entrepreneurs spend a considerable amount of time on the edge of their organization, rather than in the center. This gives them a broad and deep understanding of their industry and provides valuable information for decision making and strategic planning. By contrast, company founders who fail often create ideas in a vacuum, and then try to push them into unfamiliar territory. In this scenario, the learning curve is long an d steep, and the fragile venture quickly burns through the capital, passion, goodwill, and team members.

A long Way Traveled Research Paper Example | Topics and Well Written Essays - 1500 words

A long Way Traveled - Research Paper Example As the saying goes ‘you won’t know where you are going until you know where you are coming from’. However, when we understand history- in this case; Native American History it would mean that we understand and accept each other. Native Americans in general are known to be earthy people who are one with mother earth and they believe that every living thing on earth should be respected. Their history depicts, a vibrant culture and history and is also responsible for the early development of the Americas. The Navajo Nation Reviewed literature declares the Navajo tribe one of the largest reservation in America with an area covering an estimated 27 000 square miles. The area covers portions of Arizona and New Mexico, and a small part of southeastern Utah. Presently the capital of the Navajo nation is found at Window Rock in Arizona. The Navajos populous is said to be over 200 000 people, landing them the title of the largest Native American tribe in the United States. Furthermore, they are noted to be bilingual as they speak both their challenging and native Navajo language and also English. This noble Indian tribe lived in the South Western part of the United States. This definitive set of people refers to themselves as ‘Dineh’ which means â€Å"the people†. ... gnition as warriors from the Spanish and other surrounding Indian tribes because the Navajos raided the Spanish settlers often to get their horses for hunting and fighting. The Navajos grew corn, beans and squash in fields that the Spanish term as ‘Nabaju’, which when translated means â€Å"great planted fields†. According to the said source; by the year 1750, the Navajos were living in valleys and mountains around the canyon de chelly in north eastern Arizona.1 They adopted a new life style being sheep herders and gave up hunting. Today Navajo tribes can be found in scattered locations in Arizona and New Mexico in houses called Hogans which are very easy to assemble. Before, their Hogans were made with supporting poles that were covered with mush and brush. Then they transformed to more stable Hogans made from logs chinked in mud in a circular shape.2 Culture of the Navajo Nation The culture of the Navajo people is quite exciting. They hold fascinating beliefs an d engage in colorful ceremonies. They believe that the spiritual and the physical world blend together as one. The ‘Yei’ (holy ones) as they are known live in the four sacred mountains in each of the four directions that marks the boundaries of the Navajo land. The navajopeople.org website argues that the Navajos are highly ceremonial second to some of the Pueblo groups. Almost every act of their life; example, building a Hogan, planting crops and so on is ceremonial in nature, each being carried out with songs and prayers. The said source also declared that â€Å"the Navajo dead are buried by others than immediate relatives in unmarked graves. No ceremonies are held, for the dead are considered evil and are feared. The hogan in which death occurs is forever abandoned, often burned. Sometimes a hogan is