Successful entrepreneurs develop innovative concepts and strategies to achieve their potential. More often than not, small businesses fail to implement appropriate initiatives to deliver positive results. They tend to ignore critical attributes such as targeting, segmentation, positioning, and effective marketing mix. This paper gives a detailed description of a small...
Introduction Before starting any business, it is paramount for entrepreneurs to formulate a business plan. A business plan entails a detailed account that outlines how a certain business idea will be implemented within a particular time frame. According to Abrams, and Kleiner(2003, p.33), a business plan acts as a guide...
Introduction The following research is focused on women and entrepreneurship in Saudi Arabia and is investigating whether women’s entrepreneurial micro businesses can grow in Saudi Arabia. It discusses the women entrepreneurs who have excelled in Saudi Arabia thereby setting pace for other entrepreneurs to emulate. It looks into the characteristics...
Introduction The economic performance of any given country is boosted by growth of industries in the country. In any industry, there are large and small scale business enterprises. All these enterprises play a major role in boosting the economy of a country leading to economic development. Some countries focus on...
Introduction With the rapid growth of today’s entrepreneurial environment, the competitive nature of this area is likewise dramatically increasing. Such changes directly lead to the constant need for new ideas conceived and developed by entrepreneurs. As a result, there is a demand for an innovative approach that is closely intertwined...
How Small Businesses Can Overcome Challenges in the Market Small businesses play a critical role in the Saudi Arabian economy. According to Burton (2014), thousands of young adults in the country are employed directly or indirectly in small businesses. They pay taxes and provide for their families. As such, it...
Today innovation plays a significant role in organizational development and growth. The introduction of innovation influences the work of every employee, affects an employer’s level of satisfaction and evaluation of an employee’s abilities, and determines the success and survival of the company as a whole (Votteler and Zatrochová 556). Many...
Nothing Unique to Offer How lack of uniqueness could hurt George’s Business The uniqueness of a business idea defines the absolute success of any given venture. This claim confirms the truth behind the comments of George’s potential investor who upholds the role of uniqueness when it comes to attaining business...
Abstract The idea of women’s entrepreneurship is a growing aspect in the developed as well as in the developing countries of the world. However, there is a lot of literature concerning the participation of women in entrepreneurship in the developed world as opposed to the literature available on the same...
Introduction Creativity and innovation are becoming the pillar of entrepreneurship in the 21st century, entrepreneurs are on the lookout for opportunities that arise in the environment and therefore they develop mechanisms which they can use to harness the power of animation and turn ideas into business (Carsrud & Brännback 2007,...
Introduction The business environment in the modern world is becoming more turbulent and less predictable. The future performance of the business is becoming hard to be predicted because of the ever-changing business environment. Excellent entrepreneurial skills are vital for business survival in a dynamic business environment. Additionally, business innovation and...
Meaning of economic development and small business Economic development is best defined as putting in efforts to grow the country’s Economic wealth by exploring possible options towards improving the well-being and quality of life of a society and a state at large, which can be achieved through job creation and...
Abstract This paper describes a few types of innovation that can provide a competitive edge for a company. Also, it covers successful examples of innovative companies and discusses the use of Six Sigma as a tool to implement innovative techniques into the business process. Innovation has always been one of...
Introduction The UAE has extensively maintained policies that encourage business startups. Further, the federal government has set up policies that attract foreign investments. It is imperative to note that the UAE economy is among the fastest growing economies globally. Traditionally, the economy has been heavily dependent on oil producing sector....
Abstract This research paper investigates Enterprise Resource Planning (ERP) system. It reviews the literature on the subject and provides information on the use and vendor of the software. ERP system incorporates different business functions in an organization with a central software application. The system allows sharing of information, increase efficiency,...
Introduction A business plan is a vital component in the operation of a firm. According to Rhoda Abrams a financial advice expert and Eugene Kleiner, a venture capital specialist (2003, p. 1), a business plan should be well conceived to ensure that the firm succeeds in the long term. In...
Business Plan Introduction A business plan is a formal plan of a set of business objectives, the factors that make the objectives attainable, and the plan for realizing those objectives. It may include background information about the firm or staff attempting to realize those objectives. Business plans may also aim...
Introduction According to Sir Paul Judge, the Chairman of the Advisory Board of Judge Institute of Management Studies, University of Cambridge, any firm exists within the changing environment; thus, it has to detect and predict the external changes and react to them, as well as to implement the inner changes...
Business Planning Process Introduction Before engaging on any business, an entrepreneur or business first has to identify a viable idea. In this case, an idea is feasible if it has the potential of bringing in profits, or meeting other set objectives. Objectives of the company or individual primarily set course...
Business Planning Process Introduction It is of upmost importance for any entrepreneur to develop a well defined business plan before starting on a potentially viable project. A business plan is simply a detailed account of a proposed idea, and could be used by both businesses and individuals (Gartner & Bellamy...
