Interview with entrepreneur Essay Example | Topics and Well Written Essays - 1250 words

Interview with entrepreneur - Essay Example The reason why these individuals will propose to be their own bosses is because of the various merits that are associated with entrepreneurship. Some of the benefits are becoming their own bosses as well as the ability to enjoy freedom on the areas of businesses (Erik, 2011). The creativity and innovative nature of an individual molds the entrepreneurship skills in them. Since the 1700s many creative and innovative young professionals have become entrepreneurs and the driving force behind their entry into entrepreneurship world are the various benefits that are associated with entrepreneurship (Erik, 2011). Good practice of entrepreneurship requires application of qualities like dedication, flexibility, determination, and creativity. CHAPTER ONE Introduction The process of entrepreneurship starts with introduction of new things in areas where those introduced things are missing. Once the new things have been discovered these things are combined with the already existing resources (Er ik, 2011). The process of combination of these things with the already existing resources entails creativity. ... The generation of their energy takes place internally because of their focused minds and the urge to achieve success in all that they do. Possession of naivety and smartness at the same time These people tend to have high level of intelligence as well naivety in venturing into new areas (Brown, 1989). The naivety originates from divergent thinking since this thinking is associated with separation of good ideas from bad ones. Ability to combine both discipline and playfulness Creative people are always capable of combining both irresponsibility and responsibility quality and they are able to work late at night unlike uncreative individuals (Brown, 1989). Ability to navigate between imagination and fantasy Creative people always have a sense of reality and this reality emerges from imagination that these people obtain from art and science. Possessions of introversion and extraversion These possessions are able to differentiate the personality traits in individuals and measurement of th ese differences is possible. Studies have shown that these qualities can be both found in creative people. Stephen Murtagh seems to have much of the above qualities and this is because through his efforts AW Bell Machinery manufacturing firm was able to emerge as a medium company for the year (Casey, 2013). The company was not able to export its products in previous years and through his effort they were able to reverse this culture and the company could now export most of its products as well as to come up with innovative and creative products. CHAPTER TWO-Literature review According to Teresa Amabile (1988), some of the factors that enhance individual creativity are self motivation, cognitive

Inventory Essay Example | Topics and Well Written Essays - 500 words - 1

Inventory - Essay Example After a long time use of the time series forecasting method, the company should now adopt a new strategic plan, which should enable it to penetrate its market deeper. It is not safe for the company to rely on its historical data alone in the prediction of its future needs when considering demand. Therefore, the qualitative forecasting method is the best method applicable by the company. This will ensure that the company knows the likely direction to be taken by its customers in the consumption of its goods; and adjust appropriately to cater for the views of the consumers. Besides the techniques already listed in the abstract, there are other forecasting techniques available and already in operation. They are each used in line with the future need that a company requires. Therefore, before using any of these methods, consider the time of preparation, cost, and accuracy of the technique. These techniques make different assumptions in their operation (Makridakis, Wheelwright, & Hyndman, 1998). In addition to the already mentioned methods are Regression methods, which involve the extension of linear regression that is a variable, linearly relates to some other independent variables. The other method of forecasting used is the multiple equation methods, which involve some variables that are dependent interacting with each other in a number of equations. This method receives proper application in the economic models of forecasting. These techniques have their basis on human judgment in the forecasting of the planned future of a given company. Therefore, these methods are said to be subjective based on the judgments and opinions given by the experts and the consumers. These techniques apply to the decisions that are intermediate and long range. They can be used in the creation of forecasts that are short term and can supplement projections,