What is the relevance of entrepreneurship and entrepreneurs in economic development and society. Explain it in 400 words with the terms below. You may explain it by giving a scenario or an example. Improves the quality of life Brings social benefits to the people
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What is the relevance of entrepreneurship and entrepreneurs in economic
development and society. Explain it in 400 words with the terms below. You may explain it by giving a scenario or an example.
Improves the quality of life
Brings social benefits to the people
this is not a writing assignment
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Solved in 2 steps
- What options would you want to improve your economic lot, be an employee, be a professional, or a small business operator? Why, explain further.( What is meant by “the consumer’s right to be safe”? Why is entrepreneurship an important component of economic development? Define innovation, and why is it important in entrepreneurship activity especially during pandemic?Explain how current economic indicators, such as inflation and unemployment, affect you personally. How do you think the Covid 19 Pandemic has affected businesses? How has the Covid 19 Pandemic changed inflation or unemployment factors – explain how. Explain how they may affect you as a manager with employees and a business to operate.Explain how companies can respond to the environment? Also discuss that how changes in the economic environment effect management decisions? Suppose that you're going to start a new business, for this analyze your environment with the help of Porter's five force model?
- What is the difference between standard of living and quality of life? What is risk, and how is it related to profit? What do the terms stakeholders, outsourcing, and insourcing mean? What are some of the advantages of working for others? What benefits do you lose by being an entrepreneur, and what do you gain? What are the five factors of production? Which ones seem to be the most important for creating wealth? What are four ways the government can foster entrepreneurship? What is the difference between effectiveness, efficiency, and productivity? What is empowerment? What are some of the major issues affecting the economy today? What major factor caused people to move from farming to manufacturing and from manufacturing to the service sector? What does the future look like for tomorrow’s college graduates? What is the difference between macroeconomics and microeconomics? What is better for an economy than teaching a man to fish? What does Adam Smith’s term invisible hand mean? How…1. Define ethics, and why is it business ethics is very important? 2. Why is entrepreneurship an important component of economic development? 3. Define innovation, and why is it important in entrepreneurship activity especially during pandemic? 4. Why is corruption an unwanted activity in a country like the Philippines? 5. What options would you want to improve your economic lot, be an employee, be a professional, or a small business operator? Why, explain further. 6. What is meant by “the consumer’s right to be safe”?Why entrepreneurship is important (in your own perspective)? What is the impact of engaging in entrepreneurship on the national economy? Give cases or examples to support your views. Please don't give shorter answers, thank you! PLEASE ANSWER WITHIN 2-3 HOURS.
- Suppose the return and cost of entrepreneurship curves are described by the following equations (with numbers measured in the thousands): R=650−25N C=250, where R=returns to entrepreneurship, C=cost of entrepreneurship, and N=number of entrepreneurs. The equilibrium number of entrepreneurs is N=....... thousand. (Round your response to two decimal places.) The equilibrium cost of entrepreneurship is C=$..... thousand. (Round your response to two decimal places.) Suppose the country's government begins providing a court system to provide legal backup of contracts, increasing the return to entrepreneurship by $100 thousand for each entrepreneur. The equilibrium number of entrepreneurs is N=...... thousand. (Round your response to two decimal places.) The equilibrium returns to entrepreneurship is R=$....... thousand. (Round your response to two decimal places.)Entrepreneurial activities may be harmful to economic growth in economies that are passing through theearly to middle stage of development, as many people would be moving from self-employment to wagedemployment. Critically discuss this statement on the nexus between entrepreneurship and economic growthas per the literature.Micheal Porter, the famous business theorist that we have been following, has stated that the fundamental responsibility of business is to make a profit. Is that true, or should business in society give back in some way?
- What does your business do poorly, What problems could be avoided?College financial aid, how will you help a friend with their plan to prevent the circumstances that led to the unsatisfactory academic progress?What are the problems discuss in this article? How does it relate to business? Give some of the main points discuss. Small businesses are referred to as the backbone of the economy for a reason. They employ 46% of American workers and make up nearly half of GDP, and they boomed during the pandemic as new business applications set records. But things have turned the other direction in the last year, first because of soaring inflation and then major regional bank failures—headlined by the second and third-largest collapses ever, at Silicon Valley Bank and Signature Bank. The specter of banking consolidation is rising, and with it an even more challenging economic environment for small business, raising the questions: What becomes of the entrepreneur if their local bank goes away? Is the banking system stable? And is a credit crunch on the horizon? Underscoring the open nature of this debate, expert opinion is splitTreasury Secretary Janet Yellen has said that the banking situation is…
