Shortage of finance: women entrepreneurs suffer from the problem of inadequate finance and working capital. Banks and other sources dont lend them money easily due to inadequate security and assets as it ia a male dominating society and majority of the assets are in the name of males
Inadequate technology barrier Despite the considerable advancements in technology and communication technology (Huq, 2009), there was a lack of knowledge in this area. Most marketing, communications, and business processes are done through the use of technology. Pan Pacific Interiors faced this issue head on. The strategy involved educating their staff on the use of CRM (customer relationship management) software; this allowed the company to engage their clients in a way they had not been able to
What consequences do street vendors have on restaurants and retail stores operating on the same street block? Los Angeles is one of the cities known for constant innovation where new services and products are created and later sold around the world and locally. However, a number of the commercial activities are transacted in streets and in the shadows because the municipal of the city prohibits the sale of goods or foods on the sidewalks. According to the Bureau of Street Services, street vending
Bricolage is a concept first mentioned by L ́evi-Strauss in 1967. He defined it as “making do with what is at hand”, which arrives when the entrepreneur does not actively search for specific resources, but instead uses those that are easily available (Baker, Miner and Eesley, 2003). Examples of bricolage can be found in every aspect of a firm: customers, financing, suppliers, office space, advice, employees, etc. L ́evi-Strauss (1967) stated that there are three elements that characterize a firm
entrepreneurship is roughly refers to individual who are driven by a sense of social mission to work for social change (Bornstein, 2004, Dees, 2001, Martin & Osberg, 2007). It is the process of bringing about social change on a major scale. Social entrepreneurs function as the agents of change, questioning the status quo, grabbing the new yet overlooked opportunities, and changing the world for the better. Social entrepreneurship is an emerging field that begins to attract attention from many sectors
Background: Introduction to Organization The Coca – Cola Company was incorporated in 1892. It is the world’s leading manufacturer, marketer and distributor of non-alcoholic beverages, with operations in more than 200 countries (Sec.gov, 2014). It is regarded as one of the world’s most recognizable brands with a portfolio of more than 500 brands that offers more than 3,500 beverages. In order to retain its position and maintain its long term growth, Coca-Cola understands that it needs to diversify
protect the environment. However most of the entrepreneurs on nowadays more tend to get greater profits rather than thinking over that their products may be brought harmful effects to the environment and lack awareness of environmental. Harmful effects that might bring businesses to the environment include air pollution, water pollution, land pollution and excesses of plastic bags. Thus, in order to fulfil business ethics and social responsibility, entrepreneurs should advocate some environmental friendly
one million. Once they hit the goal, they will start their business production procedure, as a pay back, people who help an entrepreneur with the fundraising will get a discount to purchase the product or receive the product for free. This way can help an entrepreneur not losing control of the company, because they still own the company, the disadvantage is, the entrepreneur has to take the risk of their ideas may be stolen by competitors, because all the information is in
proven that it is very committed to supporting the growth and development of SME’s as evidenced by a plethora of SME supporting agencies and policies. It is however advised that the various SME bodies and policies be harmonized to ensure that new entrepreneurs have a one stop shop and to ensure better management of the Government’s objective. Government policy makers should equally begin to consider the possibility developing a version of the Grameen Bank type lending model which takes into consideration
The characteristics of the entrepreneurs for achieving success in SMEs include need for achievement, locus of control/ability to control resources, risk taking propensity, pro-activeness and high tolerance for ambiguity, leadership, skepticism and creativity(Chong, 2016). Other personality