Development, Problem, Prospects and Progress of Entrepreneurship Development in Narayanganj Sadar Upazilla: a Short Case Study

In: Business and Management

Submitted By Nayem251
Words 4916
Pages 20
Development, Problem, Prospects and Progress of Entrepreneurship development in Narayanganj Sadar Upazilla: A Short Case study

Entrepreneurship - the process of starting a business; typically a startup company offering an innovative product, process or service is termed as entrepreneurship. The entrepreneur perceives an opportunity and often exhibits biases in taking the decision to exploit the opportunity.
Entrepreneurship can be defined by describing what entrepreneurs do. For example: “Entrepreneurs use personal initiative, and engage in calculated risk-taking, to create new business ventures by raising resources to apply innovative new ideas solve problems, meet challenges, or satisfy the needs of a clearly defined market.” It refers to activities related to undertaking the efforts to set up an industry or business establishment. He who takes to establish business is the entrepreneur. Entrepreneurship is an entity of people with the ability to see an opportunity where necessary capital, labor & other inputs operating together & successfully along with know-how skill and have willingness to take the personal risk of success or failure.
According to Jean Baptist Say, ‘Entrepreneur is an economic agent to unite all the means of production.’ An entrepreneur is an individual who takes moderate risks and brings innovation. Entrepreneurs are often contrasted with managers and administrators who are said to be more methodical and less prone to risk-taking. According to S.S. Khanka-”Entrepreneurship is a process involving various actions to be undertaken to establish an enterprise”
Entrepreneurship and economic development are intimately related. So, that entrepreneurial process is a major factor in economic development and the entrepreneur is the key to economic growth. Whatever be the form of economic and political set-up of the country, entrepreneurship is…...

Similar Documents

International Business and Entrepreneurship Development

...3 4 5 6 711 8 J. International Business and Entrepreneurship Development, Vol. 3, No. 1/2, 2006 Sustaining competitive advantage in the global petrochemical industry: a Saudi Arabian perspective Salem M. Al-Ghamdi Department of Management and Marketing, King Fahd University of Petroleum and Minerals, P.O. Box 667, Dhahran 31261, Saudi Arabia E-mail: sghamdi@kfupm.edu.sa M. Sadiq Sohail* Department of Management and Marketing, King Fahd University of Petroleum and Minerals, PO Box 210, Dhahran 31261, Saudi Arabia E-mail: ssohail@kfupm.edu.sa E-mail: sadiqsohail@hotmail.com *Corresponding author Abstract: This paper analyses the competitive advantages of Saudi Arabia in the global petrochemical industry. Porter’s model is used for this purpose. Saudi Arabia, a leading producer of oil, is also the largest worldwide producer of a number of petrochemical products. Competitiveness in the global market demands an examination of comparative advantages and is the reason why Saudi Arabia is yet to succeed in the global market. This paper is an attempt to analyse the industry and to provide strategic alternatives. Keywords: petrochemical; Porter; Saudi Arabia; strategy. Reference to this paper should be made as follows: Al-Ghamdi, S.M. and Sadiq Sohail, M. (2006) ‘Sustaining competitive advantage in the global petrochemical industry: a Saudi Arabian perspective’, Journal for International Business and Entrepreneurship Development, Vol. 3, No. 1/2, pp.4–17. Biographical......

Words: 7001 - Pages: 29

Consultancy Development Organization Case Study

...CONSULTANCY DEVELOPMENT ORGANIZATION The decision-maker in the case, Rohit Sharma, the director of Consultancy Development Organization (CDO), a not-for-profit organization that helps develop the consultancy profession in India, needs to respond to CDO’s poor morale and specifically to the January 4th incident with Mukesh Kumar, the deputy director of projects. Sharma’s encounter with Kumar was the latest in a series of frustrating experiences that Sharma has faced since joining CDO in October 2007. Sharma needs to decide his next steps: whether to resign from CDO or to continue trying to improve the situation at CDO. The issue is what Sharma should do; the challenge is how to achieve it. ASSIGNMENT QUESTIONS 1. Analyze what has happened to date at CDO. Has Sharma missed opportunities to manage the situation? Consultancy Development Organization had been poorly managed prior to Sharma. The employees were not motivated to work or put effort into their duties. No motivation leads CDO to poor quality of performance. Sharma attempted to go a conference to improve, or get ideas from other consulting companies. He attempted but wasn’t able to get the government approval. Since the company isn’t performing properly he should micromanage to make sure everything gets done. When employees are aware of his management style they will get their work done. He has missed opportunities to manage the situation by just walking out the door without saying a word he is not being a......

Words: 628 - Pages: 3

Group Development Case Study

...“A team is a group of people holding themselves collectively accountable for using complementary skills to achieve a common purpose”. Group development: Stages of team development: 1. Forming stage: “The forming focuses around the initial entry of members of a team”. In this stage team members ask questions to each other. In this stage team members are in the process of getting familiar with each other. During the forming stage of Christine’s team, Diane, Janet, Steve and mike came across each other for the first time. Diane is the one who is quiet but has very good ideas in the mind if when asked. Mike is a funny and relaxed guy. Steve is a business minded person, he is always makes sure that the meeting was productive. Janet is the matured one, she always puts in more efforts. Christine is the one who is organized and tried to give her best. 2. Storming stage: “The storming stage is one of high emotionality and tension among team members”. In this stage team members experience many changes. Individuals may have clashes between each other. They try to impose their opinions on the group. Everyone tries to attain a special position for themselves in the group. The team members feel very pressurized due to the expectations. Conflicts may rise at this stage. I think Christine’s team is that storming stage. Because she has not developed a comfortable relation with Mike. Mike always avoids attending the meeting and he hardly works on his assignment. Here Christine should......

Words: 866 - Pages: 4

The Role of Entrepreneurship in Economic Development of Nigeria

...8, 2012 www.iiste.org The Role of Entrepreneurship in Economic Development: The Nigerian Perspective Dr. Mrs Ann Ogbo AGU CHIDIEBERE NWACHUKWU Dept. Of management, University of Nigeria, Enugu Campus. PMB 011 *E mail of the correspondence author: annogbo@yahoo.com brightchidi@yahoo.com Abstract The aim of the paper is to develop and analyse the contributions of entrepreneurship in the economic development through SME development in Nigeria. A total of 100 SMEs were randomly selected from a cross section of a population of all SMEs spread around some states of Nigeria and covering virtually all forms of enterprise. Participants were selected through a simple random sampling. The responses to the questionnaires were complemented with personal interviews of some SMEs operators. The responses of the participants were analyzed using the statistical package for social sciences (SPSS), which generated the frequency distributions, means, standard deviations, chi-square statistics, analyses of variance, etc of the responses. The hypotheses of this research which were tested at 0.05 level of significance using chi-square statistics hinged on identifying the greatest problem which SMEs face in Nigeria, the identification and ranking of the top ten problems or challenges of SMEs in Nigeria and the relationship between the form and nature of the business enterprise and its sources of funding for its operations. The major findings of this study include the following: SMEs have......

Words: 7375 - Pages: 30

Global Sourcing Development at Ikea – a Case Study

...preview Global Sourcing Development at IKEA – a Case Study Paper prepared for the 25th IMP conference Jens Hultman1, Susanne Hertz1, Rhona Johnsen2, Thomas Johnsen2 1: Jönköping International Business School, P.O Box 1026, SE-551 11 SWEDEN E-mail: jens.hultman@ihh.hj.se, susanne.hertz@ihh.hj.se Tel: +46 0(36) 10 10 00 2: Audencia Nantes School of Management, 8 Route de la Joneliere, BP 31222 – 44312 Nantes Cedex 3, France. E-mail: tjohnsen@audencia.com; rjohnsen@audencia.com Tel: + 33 (0)240 37 46 25 Abstract This study explores the dynamic process of global sourcing development through a case study of the Swedish home furnishing giant IKEA and its supply network concerning the PAX wardrobe system. The paper provides a synthesis of the existing global sourcing literature by dividing this growing body of research into three major themes: globalization processes and stages, motives/drivers, and organizational design and management. Moreover, the paper integrates the global sourcing literature with the established literature on the internationalization process of firms. Comparing the existing research on global sourcing and internationalization, we propose two research questions focused on: (1) the ways in which the IKEA global sourcing and supply chain development process resembles a linear stages process, and (2) the principal drivers of the development of global sourcing within IKEA. Relating the findings of the global sourcing process in the case of IKEA, the paper......

Words: 11008 - Pages: 45

Role of Entrepreneurship in Economic Development

...Role of Entrepreneurship in Economic Development Entrepreneurship: Entrepreneurship is the attempt to create value through recognition of business opportunity, the management of risk taking appropriate to the opportunity and through the communicative and management skills to mobilize human financial and material resources necessary to bring a project to fruition. According to A. H. Cole, "Entrepreneurship is activity of an individual, undertaken to initiate, maintain or aggrandize profit by production or distribution of economic goods and services." According to Schumpeter, "Entrepreneurship is based on purposeful and systemic innovation. It included not only the independent businessman but also company directors and managers who actually carry out innovative functions". Need For Entrepreneurship Development: Economic development essentially means a process of upward change whereby the real per capita income of a country increases over a period of time. Entrepreneurship has an important role to play in the development of a country. It is one of the most important inputs in economic development. The economic history of the presently advanced countries like USA, Russia and Japan supports the fact that economic development is the outcome for which entrepreneurship is an inevitable cause. The crucial and significant role played by the entrepreneurs in the economic development of advanced countries has made the people of developing and under developed countries......

Words: 1047 - Pages: 5

Case Study Dharavi Development

...Modernizing Dharavi: If you build, will they come? Looking outside from his office at West Bandra overlooking the Arabian Sea, Mr. Mukesh Mehta sighed; he recalled when he first had the dream of creating a modern Dharavi – free of slums, where the poor, hardworking people will finally be able to enjoy a better quality of life and be integrated with the mainstream citizens. Throughout the history of the world, migrants have moved to the urban areas in search of a job so as to provide for their families. In most cases, they can find work, but not a place to live. Hence, without help from either developers or the government, they are forced to become squatters, building for themselves on undesirable and illegal properties. Dharavi, at the heart Mumbai, with 600,000 residents, is one such place and one of Asia’s largest slums. Mr. Mehta’s goal is to provide a decent standard of living to the people of Dharavi. He established himself as a celebrated realtor by building expensive custom homes for the rich in Long Island, New York, and now longed to build homes for the poor in the slums. He shared this dream with his family too. His son, Shyam, was very enthusiastic and regarded him as a “versatile” person who is capable of serving both the rich and the poor, while his wife considered him a “confused” person. He is, however, dedicated to pursue his dream of seeing that his heroes are living a far better life in a revamped Dharavi, free of slum. Mr. Mehta has been the management......

Words: 4704 - Pages: 19

Entrepreneurship Training and Development

...Chapter 1. Introduction ENTREPRENEURSHIP DEVELOPMENT Unit -1: Entrepreneurship concept- Entrepreneurship as a Career- Entrepreneur-Personality Characteristics of Successful. Entrepreneur- Knowledge and Skills required for an Entrepreneur. What Is Entrepreneurship? Entrepreneurship can be defined by describing what entrepreneurs do. For example: "Entrepreneurs use personal initiative, and engage in calculated risk-taking, to create new business ventures by raising resources to apply innovative new ideas that solve problems, meet challenges, or satisfy the needs of a clearly defined market." But as the following definitions state, entrepreneurship is not restricted to business and profit: "Entrepreneurship involves bringing about change to achieve some benefit. This benefit may be financial but it also involves the satisfaction of knowing you have changed something for the better. "Entrepreneurship is essentially the act of creation requiring the ability to recognize an opportunity, shape a goal, and take advantage of a situation. Entrepreneurs plan, persuade, raise resources, and give birth to new ventures." Who Are Entrepreneurs? The word Entrepreneur has been taken from the French word. It means Between Takers. Entrepreneur is another name of Risk Taker. An entrepreneur is an individual who takes moderate risks and brings innovation. Entrepreneur is a person who organises/ manages the risks in his/her enterprise. “Entrepreneur is a individual who takes...

Words: 23074 - Pages: 93

Problems and Prospects of Small Business Development in Bangladesh

...Problems and Prospects of Small Business Development in Bangladesh Section One: Definition & Characteristics of Small Business  Our essay is divided into five sections. Section one will discuss about the definition, nature and scope of Small Business. In section two we will get the opinion of some entrepreneurs according to our questionnaire. Section three will deal about some common problems that our Small Business firms face, according to the answers of previous section, which will be followed by some suggestions from our group in section four.  And our discussion will come to an end with some concluding remarks in the last section. Section One: Small Business DEFINATION: * According to Small Business act 1934,” A business which is independently owned and operated and not dominant in its field” is a Small Business. * Bolton Report on the commission of the inquiry on Small Business firms, 1977,”Small firm is one that has a relatively small share profits market.” * Stoner, Freeman, & Gilbert, 1995, “Small Business refers to business locally owned and managed, often with very few employees working at a single location”. * US Government, “A Small Business is one with fewer than 500 employees.” According to executive committee for national economic development,”A Small Business one of which process at least two of the following characteristics: * -Managers are the owners, * -Capital supplier and the owner is individual or a small group, ...

Words: 1773 - Pages: 8

Reson: Making Development Teams Accountable for Short Project Cycles: Case Study

...Term Paper RESON: MAKING DEVELOPMENT TEAMS ACCOUNTABLE FOR SHORT PROJECT CYCLES: Case Study by XXXXX XXXXXX Professor XXXXXX XXXXXX University January 30, 2015 Content Company Background 2 Company’s Structure and Strategies 3 Specific Problems 3 RESON’s shared philosophy 4 Reson: All focus on time 5 Reson: project in 1998 5 Grounded 5 Recommendation 6 Conclusion 8 References 9 RESON: MAKING DEVELOPMENT TEAMS ACCOUNTABLE FOR SHORT PROJECT CYCLES Company Background Reson Company was found in Denmark in 1976. The company...

Words: 3019 - Pages: 13

Adolescent Development Case Study

...Adolescent Development Case Study Tanya Johnson Psychology 600 7/6/2015 Tera Duncan Abstract Adolescence refers to teenage years leading up to the individual makes the conversion to early adulthood. In this stage of development, many changes occur, physically, mentally and emotionally. They do not always understand why they are faced with these modifications. In this time, individuals experience many situations which appear confusing, as well as they discover a lot of things. Some adolescence adapts well and accepts the changes. Other adolescence, tend to rebel and not desire to accept responsibility. In this stage, adolescence is faced with experiences such as peer pressure, and other social issues, which challenge their self-identity and independence. These issues can be very trying to youth. These individuals are presented with tough issues are drugs, alcohol, sexuality, etc., which they have to make complex choices about. In a lot of cases exposure to these issues are much unexpected to youth. Matters of romantic relationships, peer interactions and the exterior appearance are items which become important during the voyage from teen to early adulthood. Adolescent Development Case Study During adolescent development, youth cultivate to demonstrate the capability to: comprehend intellectual thinking. In school they advance to higher learning. The develop morals and apply it to their daily lives. They receive responsibilities and begin to understand......

Words: 1402 - Pages: 6

The Need for the Development of Entrepreneurship in Adepressed Economy

...THE NEED FOR THE DEVELOPMENT OF ENTREPRENEURSHIP IN A DEPRESSED ECONOMY TABLE OF CONTENTS Title page Dedication Approval page Abstract Acknowledgment Table of contents -------------------------------------------------------------- Chapter one of “the need for the development of entrepreneurship in a depressed economy” starts here -------------------------------------------------------------- CHAPTER ONE 1.0 INTRODUCTION 1.1 Background of the study 1.2 History background of the case study 1.3 Statement of the problem 1.4 Objective of the study 1.5 Significance of the study 1.6 Formulation of hypothesis 1.7 The scope of the study 1.8 Limitations of the study 1.9 Definition of terms -------------------------------------------------------------- Chapter one of “the need for the development of entrepreneurship in a depressed economy” Ends here and chapter two starts here -------------------------------------------------------------- CHAPTER TWO 2.1 Meaning and history of entrepreneurship development in Nigeria 2.2 History of entrepreneurship development in Nigeria 2.3 Meaning and functions of an entrepreneur 2.4 Functions of an entrepreneur 2.5 Activities of the Nigeria Association of Small-scale Industrialists (NASSI) in the development of entrepreneurship 2.6 Problem of NASSI in the discharge of entrepreneurship development in Enugu 2.7 Comments 2.8 Reference -------------------------------------------------------------- Chapter......

Words: 337 - Pages: 2

Shenzhen Development Bank Case Study

...paper aims to study the case in depth from an objectiveview.Commercial banks use in the introduction of foreign strategic investors will really enhance the company's value, and provides a high yield of financial investment opportunities for foreign strategic investors.The proposed investment in Shenzhen Development Bank (SDB) by Newbridge in 2002 and evaluate the 1.6 times book value that Newbridge agrees to pay for its 18% stake in SDB is appropriate. 2. Introduction As China continues to open up financial policies, purchasingshares of China's commercial banks has gradually become an important mean of foreign banks to enter the Chinese financialmarket.In May 29, 2004 ,by way of non-tradable stock officially, the Newbridge Capital became the largest shareholder of SDB. SDB as China's first listed bank to introduce foreign strategic investors cases in the history of China's banking industry led to the stock market are a landmark development. What is more, this case provides an excellent opportunity to other commercial banks which want to introduce foreign strategic investors affect the value of the commercial banks.Newbridge acquisition of Shenzhen Development is China's commercial banks to introduce foreign strategic investors, the most interesting acquisitions boom event, while the smooth completion of the acquisition and operation of the acquisition of Newbridge really enhance the company's value has been one of SDB the focus of attention. In this case, the report......

Words: 1203 - Pages: 5

Case Study: Shenzhen Development Bank

...inappropriate and exorbitant due to the overall overvaluation of limited listed companies in China’s banking sector. The China’s stock market full of unsophisticated retail investors was highly immature and speculative, compared to the mature markets in developed countries. Supply of tradable shares fell short of demand, leading to higher market capitalization of public companies. Based on these concerns, we could not use the multiplier of 5.5 times to calculate the final consideration of this deal. In such a case, we should refer to other price-to-book multiples of similar deals over that period. According to the data given in the case (as shown in Figure 1), these China banks had also received foreign investment and their deals had multipliers of 1.2-1.5 times. Given their similarity, the multiplier of 1.6 times is appropriate for the SDB deal. Figure 1 Date | Foreign Investor | China Bank | % Stake invested | Purchase P/B | Sep-99 | International Finance Corporation | Bank of Shanghai | 5% | 1.5x | Nov-01 | International Finance Corporation | Nanjing City Commercial Bank | 15% | 1.2x | Dec-01 | HSBC | Bank of Shanghai | 8% | 1.2x | Dec-02 | Citibank | Pudong Development Bank | 5% | 1.4-1.5x | However, we can see from Exhibit 13 that CMB, Mingsheng and SPDB, the similar players in the market, held multiplier of 2.3, 2.2 and 4.9 times respectively. All of those banks were preforming better than SDB at that point. Financially speaking, given in Exhibit......

Words: 622 - Pages: 3

Case Study of Human Development

...Case Study of Human Development Development throughout life differs from individual to individual. Each person has their own agenda for cultural identity, growth, health, socioeconomic status, education, gender, ethnicity, sexual orientation, and all inspire each person’s life story. Adulthood is frequently observed as when an individual is considered officially and developmentally prepared to hold responsibilities such as driving, voting, getting married, and entering the military. The course of becoming mature does not finish with adolescence but remains throughout adulthood as psychological, security and self-actualization requirements are met (Ehow, 1999-2011). Adulthood is separated into three categories, which are young adulthood, middle age and old age. In Erik Erikson's stages of human development, a young adult is an individual between the ages of 19 and 39. The early adulthood period in human development leads the middle adulthood phase. An individual in the middle adulthood stage is between 40 and 60 years old. An individual in their 60’s is considered late adulthood. During early adulthood the young adult phase includes the personal necessity for sex and intimacy. Isolation happens when an individual fails to achieve intimacy. The young adult finds out that love and compassion may help them to obtain what they desire. And when we don't find it easy to create satisfying relationships, our world can begin to shrink as, in defense, we can......

Words: 1388 - Pages: 6