The Challenges for Business Start-ups Essay Example | Topics and Well Written Essays - 2500 words

The Challenges for Business Start-ups - Essay Example The essay includes discussion and analysis on different aspects of the topic such as financial resources, entrepreneur’s time, competition from existing firms, human resource management, establishment of customer base and intellectual property rights. Alone in United Kingdom, there are more than 4.8 million small businesses which employ less than five people. Furthermore, out of these 4.8 million businesses, 3.8 million are sole proprietors. According to a conservative estimate, almost 0.5 million people start their own business every year. Over 60 percent of the total workforce or almost 22.8 million people of the United Kingdom work with small and medium sized business. Surprisingly, 60 percent of the commercial innovations also come from these small businesses. However, there is another side of the picture, which tells that more than 80 percent of these small businesses fail within the first year of their operations. Therefore, the point here is that these new businesses of ten face a great deal of challenges during their initial days. As the old saying goes that â€Å"People don't plan to fail, they fail to plan†. Only those businesses survive, which have the planning, resources, determination, and focus to cope up with those challenges. This paper is also an attempt to present a brief overview of these challenges in light of various examples and theories. In conclusion, the researcher states that business startups without proper planning are similar to a ship, which is moving in circles without any direction.

Islamic banking Essay Example | Topics and Well Written Essays - 750 words

Islamic banking - Essay Example The laws governing Islamic banking aim at protecting the interests of the public (El, Tiby 3). This paper will discuss why Islamic banks are becoming popular to the extent that they can extend their services to most parts of the world. The paper will also discuss how Islamic banking can be the solution to the economic problems that emanate from the financial crisis. Over the past few years, Islamic banking has become a popular form of banking; as a result, Islamic banks have expanded their activities to most parts of the world. A crucial factor that has led to the significant spread of Islamic banking is because the banks do not charge interest. Islamic banks oppose the charging of interests on loans since some investments financed by loans may not perform well. Islamic banking tends to prohibit only the forms of finance where there are interests charged. As a result, the relationship between borrowers and banks is guided by the risks and returns that the two entities share. Islamic banking holds that since profit is not guaranteed, there is no need to charge interests. This notion has led to the spread of the ideals of Islamic banking in most parts of the world (Aziz & Gintzburger 270). It is worth noting that another factor that has contributed to the expansion of Islamic banking is the use of lease-based transactions, commonly referred as Ijarah. This form of transaction in Islamic banking is becoming popular, especially in the United States financial market. Ijarah refers to a form of leasing whereby there is the acquisition of the asset by the bank, after which the bank leases the customer the asset. This means that the customer will finally be the owner of the asset, either through the purchase of the asset at an agreed price or through leasing the asset (Aziz & Gintzburger 271). The spread of Islamic banking also emanates from the Murabaha service offered by the bank. This can be regarded as the most popular form of Islamic financing.

Philosopy on education Assignment Example | Topics and Well Written Essays - 250 words

Philosopy on education - Assignment Example In addition, personal analysis has indicated that due to different technological advancements, there has been a change in the methodology of education, and unfortunately, education and learning now stands in distinction with each other. In other words, societies are focusing primarily on acquisition of education, and not on the significance of learning, as degrees hold higher importance, whereas, individuals having the notion of learning without degrees usually do not acquire any respectable place in the society. In the result, there is now a wave of conflict between the notions of education and learning due to inclusion of huge technological advancements in this field; however, there is an urgent need of standardization on international level that will enable the human race to ensure survival of actual philosophy of education while resisting impact of the technology. In brief, one should accept and appreciate such change in the philosophy of education that is altering with the time, and thus, is in bond with the nature and

Managerial Applications of Technology (Ethical Hacking)2 Assignment

Managerial Applications of Technology (Ethical Hacking)2 - Assignment Example Hiring ethical hackers has some advantages such as one, a hacker will apply all their knowledge in succeeding to bypass the implemented security systems and upon succeeding, and the faults in the systems are discovered and secured. Again, it is safer to have a hacker working for an organization than against it (Saleem, 2006). This is so because in the second scenario, there are more chances of the organization being trespassed. On the contrary, hiring ethical workers may be detrimental in that say in a banking institution, a hacker may discover a fault which they can use to get more money than they earn, and betray the organization by stealing from it. This means that in the event that an ethical worker ignores the ethics, then the organization’s information is placed at risks (Conran, 2014). However, despite all this, it is important that management hires ethical hackers to verify the security of their systems since this protects them from malicious (black) hackers. The ethical hackers should be vetted for their ethical backgrounds, or be acquired from credible

Damned If You Do Essay Example for Free

Damned If You Do Essay In my Chemistry class, there are two students who always ask make remarks or ask questions about the topics discussed: a male and a female. When the male student asks questions, the people in my class sit quietly and listen to the professor’s explanation, but when the female student asks questions, the class—including myself— gets annoyed. They begin to roll their eyes and sneer. Even my professor seems to be annoyed at times. Often I hear my classmates complaining about her during break. They nag about how much she interrupts class with her foolish questions and interpretations, yet no one complains about the male classmate. I thought to myself, â€Å"Maybe he asks better questions than she? † But after a few weeks I began to realize that the intelligence of their questions and comments tends to be the same. So why do my classmates favor the male student’s remarks over the female student’s? Everyone has their own way of saying things, however the way we hear what a women says is often completely different in comparison to how we would hear it if a man had said it instead. When hearing both genders communicating, we unintentionally put males above females. We look at men as more powerful than women. In Deborah Tannen’s book, You Just Don’t Understand, she explains that the reasons for this starts at a very young age. Girls were raised to never boast. Tannen says, â€Å"Girls learn that displaying superiority will not get them what they want—affiliation with peers. For this, they have to appear the same as, not better than, their friends† (218). Females look at boasting as â€Å"showing off† and â€Å"rude†, and feel they will be rejected if they do so. They rarely compare themselves to others. In fact, women try to keep the status between them mutual. The best example is my little sister, Julie. When she plays with her friend Natalie, they always play the same character. They will agree to be â€Å"sister princesses in a big castle. † On the other hand, when I see her play with her friend Jake, he always insists on being superior to her. He says things such as â€Å"I’ll be Batman and you’ll be Robin,† immediately taking the higher status. Boys feel that if they don’t act dominant and take charge people won’t take them seriously. Naturally we expect women not to boast, while with men we don’t seem to care. If a woman told a group of people she was a founder of a huge company worth millions of dollars, they would think she was â€Å"showing off† and the group would automatically leave her out of the conversation. If a man were to say the same thing—because we are so used to them boasting—we would not look at it as â€Å"showing off†. We would think highly of him. This is why men and women are judged differently even when they speak the same way. Tannen says, â€Å"If a linguistic strategy is used by a woman, it is seen as powerless; if it’s done by a man it is seen as powerful† (225). Since females don’t try to be at a higher status, their speech is often ineffective. Along with women not addressing a higher status, they also do not ask for something directly. They are more covert when asking for a favor. When my mom says, â€Å"It would be nice if someone would put the dishes away for me,† most of the time I don’t. Because she is asking indirectly, I don’t see the power in her question. On the other hand, if my dad says â€Å"Hey†¦ put those away for me,† I automatically listen. Although they were both implying the same thing, my mom’s statement was powerless because it was polite and indirect. Females use â€Å"tag questions† (227-28), such as â€Å"That’s a nice dress, isn’t it? † The â€Å"tag question† makes women seem unsure. Women don’t mean to sound hesitant. They say â€Å"Isn’t it? † expecting the other person to say â€Å"yes† or â€Å"no,† and therefore starting a conversation. Tannen says, â€Å"[P]eople expect women to use tags† (228). We expect women to be unsure, and as a result, when they make statements or ask questions, we assume they don’t know that they are talking about. Researcher Patricia Hayes Bradley says, â€Å"When women used tag questions and disclaimers, subjects judged them as less intelligent and knowledgeable than men who also used them† (qtd. in Tannen 228). In other words, because of the different stereotypes of men and women, we have distinctive attitudes towards what they say, and we make men dominant. Looking back at the issue in my Chemistry class, I see why I found the female student aggravating. When comparing her to the male classmate, I unconsciously looked at her as lower than him. Both males and females become accustomed to this power vs. powerless ways. It becomes everyday life. People are less likely to pay attention to an idea that is raised by a woman who doesn’t assert her status, therefore making us unconsciously look at them as below men.

African American vs. Caucasian Americans Essay Example for Free

African American vs. Caucasian Americans Essay At first glance some people might consider this paper to be on the racial side, however it was all written by observations made. There are many differences between African Americans and Caucasians, some people dont see the differences because of ignorance . You must read the paper with an open mind and take none of this to heart. African American and Caucasians function differently in public surroundings. When you see a young African American you usually see them in groups of four of more. However, when one of them gets into a disagreement five to ten more show up in their defense. They are a very close knit group of individuals. I have also noticed that when you see a young African American walking around they are usually singing, talking very loud or running around. Also when they are in groups they are very loud and take over the area that they occupy. On the other hand when you see Caucasians they are rarely in groups of three or more. To top it off when someone in one of their groups gets in trouble the rest of the group is nowhere to be found. Most times when you see young Caucasian people in a group they are for the most part within a normal speaking level. These two groups tend to act differently in the public due to their cultural differences. There are a number of differences between the churches of African Americans and Caucasians. At most typical African American churches there are no true sermons. The African American churches tend to do more entertaining rather than teaching. They also do a great deal of singing and dancing involved in there praising of God. They emphasize fellowship in their churches especially after church when they all gather and close the celebration with a meal together. However at a typical Caucasian church there are a few differences. To start it off when you first walk in you get a program detailing what will be happening through the service. They tend to structure the whole service around a sermon or story. The service every week is very predictable as to what will happen. The Caucasian churches are more there to teach the ways of the lord as they have interpreted it. Although not all the African American and Caucasian churches are along this line a majority of the main stream ones are.

The Competitive Advantages Of Effective Knowledge Management Commerce Essay

The Competitive Advantages Of Effective Knowledge Management Commerce Essay Today, the future and the value of a company depends on provide the new product and service quickly and timely in order to meet the needs that always change in the market. Thus, I believe that knowledge is the more importance factor than land or capitals to create a competitive advantage for enterprises. And now, this essay will discuss more about the value of managing knowledge and some competitive advantages that can be created through knowledge management in the company. Then, I would like to discuss about the In addition, this essay is also talk about the leadership and managerial skills in the organization by implementing successfully KM. DISCUSSION ABOUT THE KNOWLEDGE MANAGEMENT: Data, Information, Knowledge: Nowadays, we are living in an age of information that we can find easy through television, internet, magazines etc. But not all information is reliable. Transforming information into knowledge within the organization is an advantage. However, not all managers have able to do it. Thus, the first thing I want to discuss about the difference between data, information and knowledge in order to transform raw data into meaningful information. Data is the raw material. It can be a set of discrete facts and exist in any form such as number, symbols, imaging etc. Data represents unorganized and unprocessed facts. Data is transformed into information by adding value through context, sorting, calculating, analysis and evaluation. Information can be considered as a processed data. Data and information are everywhere but knowledge is hard to get. You need information in order to get knowledge. However, knowledge is not information. Information is only becomes knowledge when you have able to realize and understand specific purpose of it. Knowledge is usually come from learning, thinking or taking experiences in a particular area. Knowledge has two types: Explicit knowledge and tacit knowledge. Explicit knowledge is the visible knowledge. You can find them easily through book, documents, reports, films, magazines, etc. The explicit knowledge is easily transferable. In contrast, tacit knowledge is the knowledge that put in your mind. Simply, tacit knowledge is the personal experience, skills and hard to transferable. For example: Each pastry cook can made Tiramisu cake with different flavors, although all of them use with the same Tiramisu Cake recipe. Some cake are delicious, some cake are bad. Because skilled pastry cook has not shown own experiences in recipe. May be, they can add some special ingredients to make their cakes with good flavorful. This is the tacit knowledge. They did not share their experiences as well as knowledge for everyone. I think this is the importance aspect in the organization. The managers must look for ways to employees can share tacit knowledge together in a particular sector. Tha ts also the objective of knowledge management. Knowledge management: Knowledge Management (KM) can be defined as the logical process that helps people to use knowledge effectively and efficiently. Knowledge management is the process the company uses to measure the value of the intellectual value of each employee in the company. Moreover, it is the process used to evaluate and track key metrics associated with the organization of intellectual property can be used to create better services, products and value to shareholders of the corporation. There are many different knowledge management life cycles. They are made by Wiig (Wiig Knoeldge management cycle 1993), Zack (Zack Knowledge Management Cycle 1996), Nickols (Nickols Knowledge Management Cycle 1999), McElroy (McElroy Knowledge Management Cycle 1999), Rollet (Rollet Knowledge Management Cycle 2003), Bukowitz Williams (BW Knowledge management cycle 20003). Actually, they have some common steps and meaning. However, each cycle has its own characteristic. Look at the table below for comparison. Nickols (1999) Wigg (1993) McElroy (1999) Rollet (2003) Bukowitz Williams (2003) Zack (1996) Acquisition Creation Individual and group learning Planning Get Acquisition Organization Sourcing Knowledge claim validation Creation Use Refinement Specialization Complication Information acquisition Integrating Learn Distribution Store/ access Transformation Knowledge validation Organizing Contribute Presentation Retrieve Dissemination Knowledge Integration Transferring Assess Distribution Application Maintaining Build/ sustain Conservation Value realization Assessing Divest Source: Adapted from Kimiz Dalkir, Knowledge Management in Theory and Practice (Oxford: Elsevier Butterworth, 2005), pp. 27. Competitive advantages: Although there are many different perspectives on knowledge management, however the general objective of knowledge management is look for ways to employees share and learn knowledge as well as experiences together. Thats not only help employees improve the expertise knowledge, but also the knowledge management can create the competitive advantages and enhance value for enterprises. As you know, human resource is the valuable asset in organization. If the organization can use this resource effectively, organization will become very strong. Knowledge management can give all the employees in organization many opportunities to show ideas and innovation. Therefore, organization can have more opportunities and advantages than competitors. The employees can share expertise knowledge, experiences or passion together. Thats also make all of the employees in organization more closer and understand  each other  better In addition, transforming from tacit knowledge into explicit knowledge is not only help improve expertise knowledge of employees, but also help the organization have enough capable of responding promptly to the change in personnel. And now, I would like to give you a reality example as well as an incident by not applying knowledge management in organization.   It occurred in my familys restaurant in three years ago. When my manager intends to open a restaurant of his own, he has left the restaurant. The important thing, he has taken away all the experience, the trade secret and a lot of good employees and the relationships. Then he became a competitor with my restaurant. During that period, my restaurant encountered a lot of trouble and business performance decreased seriously. Another example, at Tam Viet Group in 2007, a vice president has left the company and he established an own company to direct competitive with the Tam Viet. By applying knowledge management, all these knowle dge such as customer relationships, unfinished projects, etc. were acquired and stored by all other employees. Therefore, Tam Vietnamese were not affected. Additionally, Knowledge management can also give to the enterprise with high adaptability in the rapidly changing marketplace. The competitors are always updates their products and services better to meet the demand of customer. Therefore, most of the successful enterprises are always catch information and transfer them rapidly. By applying the knowledge management, the enterprises can easily compete with other competitors. The organization can launch new products with the higher quality than competitors at the same cost. The employees can save time through making decision or solving the problems quickly and exactly. KNOWLEDGE MANAGEMENT ON SUPPORTING MANAGERIAL PRACTICES: Similar to those competitive advantages that I mentioned above, knowledge management can help manager so much in practices. Firstly, the employees have a freely environment to performance themselves. The employees can share and learn knowledge, experiences, idea together. Therefore, the manager can collects and exploits tacit knowledge or innovation in order to enhance competitor advantage for the organization. Additionally, KM can help manager make decision timely and exactly by capturing,  analyzing  and  conversing  of information logically. In addition, the manager will have enough response to device with changing of the marketplace as well as the human resources. Leadership and managerial skills: A manager needs to have a good leadership to change products, systems and people efficiency. A good leader must have capacity to accelerate the process to decide a matter and to make process work effectively and quickly. It is a difficult problem. A good manager should have more diverse skills in order to have enough capable of handling all of problems in the organization. The first skill is the information technology (IT) skill. I think this is the key For example: in my first internship at ACB bank, I can get information of customer trading history via CIC.org.vn website. You will save more time for get information of customer. Thats progress of technology. Thats also the reason the manager should have a good IT skill to support the management easier and faster. In the high technology age, a good manager should know to take advantage of technology to support for the management and sharing knowledge in the organization. If so, companies will have more competitive advantages than competitors. In addition, a manager should also build a trust and respect relationship with employees. Listening skill is also important. As a manager, you should build an open structure. I mean that you should gap of discrimination between superiors and subordinates. The subordinate can easily meet and express freely their opinions to you. Listening will help you clearly understand about your staffs in order to make decisions fairer and more accurate. Lets change the last skill that I want to discuss is the communication skill. In my opinion, communication is the most difficult and complicates skill of the manager. According to John Quincy Adams If your actions inspire others to dream more, learn more, do more and become more, you are a leader. Its a great statement. A manager has to know create motivation for employees in order to they have enthusiasm and try their best to work. The motivation is not only based on the high salary, but also based on the workplace. A manager can adapts communities of practice (COP) program in the company. COP is considered as a group of people hold together by sharing the knowledge, experiences, ideas or something like that. COP program can provide a place for employees in particular areas or require employees work in team to share methods or tacit knowledge and mutual support. Thus, the employees can improve their knowledge; learn more about the experiences and more closer. Besides that, manager s hould also consider one of the challenges of communication, the different cultures. Especially is the multinational company. this is a new step to the understanding by employing individuals from various backgrounds, cultures and lifestyles. Perceptual, Cultural and language barriers are a challenge to be overcome when a company work in the global orientated environment. It affects team spirit, work efficiency, directly affect the business situation of the company. Moreover, it is the cause of lack of teamwork, morale low. The different culture can affect a company and its success in variety of ways. CONCLUTION: In conclusion, the knowledge management is a new way to develop your company in the future. From the very beginning, the essay discussed some basic concept of the knowledge management for you. As you can see the next part talked about the competitive advantages that the company can take from KM. There are so many, for example: using human resource effectively, transferring from tacit knowledge to deficit knowledge, etc. Moreover, the knowledge management will help the managers in many ways. And, of course, the managers have to learn and develop his/her skills to managing knowledge. There are some basic skills that a manager should have are listening skills, IT skills, etc. In the knowledge economy, knowledge management has more impacts on organizations. Applying knowledge management is considered as a key for success organization. The strong organization always has a good knowledge management. 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