Faculty.buffalostate.edu



Bus. 365: EntrepreneurshipDr. Ahiarah HW #1 (5 points) Due in class on: September 13, 2017NOTE VERY WELL: DO NOT COPY SOMEBODY ELSE’S WORK ON THIS ASSIGNMENT AND TURN IT IN AS YOURS. IF IT IS SHOWN THAT YOU DID, YOUR SCORE WILL BE ZERO !!!Importance of (1) Enterprisers or Entrepreneurs, (2) Entrepreneurship and (3) Enterprise(s), to the US Economy. 1. List and briefly elaborate, at least, two ways that demonstrate/illustrate the importance of enterprisers to the U.S. economy or society. (1 point)1) The enterprisers/entrepreneurs originate the decisions, actions and undertakings that refine and translate ideas into new enterprises—they create new ventures or transform old ones, all of which are important to the US economy—the business entrepreneur is the “Persona Causa” of the business enterprise.2) 3) 4) 2. Identify and list, at least, three “high-impact” accomplished-entrepreneurs, and briefly discuss their philanthropic contribution(s) that improve human living standards, or alleviate human suffering for the less fortunate. (1.50 points) 2-1) Bill Gates: A high-impact accomplished-entrepreneur. He co-founded Microsoft Corporation with Mr. Allen. Microsoft is, today, a multi-billion dollar, multi-national business entity. Bill Gates has created immense wealth and is a multi-billionnaire frequently topping or coming in second in surveys (by Fords Magazine, for example) as the richest person on earth. Bill Gates has formed the “Melinda and Bill Gates” philanthropic organization that funds several social causes aimed at eradicating diseases that include polio, malaria… In addition, he has recruited several fellow billionaires (including Warren Buffett) to sign a pledge to donate the bulk of their wealth to charity.2-2)2-3)2-4)3. List and briefly elaborate, at least, three reasons why entrepreneurship is important in the U.S. society. (1 point) Entrepreneurship is “at the heart of national advantage” (Porter, 1990, p. 125). Porter, M. E., 1990, The Competitive Advantage of Nations, New York: Free Press.. Entrepreneurship is important also because:3-1) Business enterprises, which are vehicles for carrying out economic activities that meet human needs. are created, or come into being, by means of entrepreneurship3-2) 3-3) 3-4) 3-5) 4. List and briefly elaborate, at least, three reasons why the enterprise is important in the U.S. society. (1 point)4-1)“ Small business serves not only as the source of companies that grow into large businesses, but also as a major employment and economic productivity sector in its own right" (Vesper, Karl "Commentary," in D.E. Schendel and C.W. Hofer, (eds.), Strategic Management: A New View of Business Policy and. Planning, (Boston., Mass.: Little, Brown & Co., 1979), p. 338.) 4-2) Enterprises pay all kinds of taxes (property, licensing, sales…, and incorporated ‘C-Corps.’ also pay earned income taxes) which help fund public infrastructure, defense, education, and subsidies that governments provide. 4-3) 4-4) 4-5)5. Critique the popular belief (or myth?) that entrepreneurs and their business enterprises set out to create jobs in the country.Much is made by politicians about job creating significance of entrepreneurs and entrepreneurship. The National Federation of Independent Business (NFIB), the premier national association of entrepreneurs, also emphasizes the “job generation” significance of small business in the US and around the world. To be identified or ascribed with the all important job creating role also confers voice amplification in public policy towards enterprise. Indeed the entrepreneurial process, in the aggregate, contributes to sustain a variety of jobs (other than the entrepreneurs’)—for attorneys, accountants, investment bankers, engineers, designers/artists—involved in various phases of the process. “However, any discussion or analysis of the subject needs to take place with a clear understanding that businesses do not exist for the purpose of creating jobs. Indeed, jobs are a necessary byproduct of business creation and/or growth, [but] the most financially successful businesses are typically those that can achieve the highest level of economic activity with the fewest number of jobs! Moreover, as companies become more successful and grow, the more capable they become of taking advantage of the productivity enhancing tools of computer systems and economies of scale to increase the level and volume of their economic activities without a corresponding increase in employment. Therefore, new job creation is becoming even more dependent on new venture creation and the growth process of early-stage businesses.” Peter Drucker, also made this point: “The entrepreneur is also not an employer, but can be, and often is, an employee—or someone who works alone and entirely by himself or herself.” There appears to be an inherent tension between enterprises’ true pursuit which is profit/wealth generation and the nemesis to that in the form of costs necessitated by jobs created. As job generation becomes more politicized, demands will grow for breaks provided entrepreneurs to be commensurate with clear, specific job generation targets and commitments.Write below, what you would like add to this #5, above, critique: (0.5 points) ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download