conclusion of entrepreneurship essay

The Entrepreneur by Sophie Boutillier, Dimitri Uzunidis

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Since the beginning of the 1980s, business creation has been an extremely important economic and social issue (job creation, constant innovation, organization of territory, social change). However, business creation is not always the compensation for a revolutionary technological project. It is also very often an individual’s final hope of finding employment.

The term entrepreneur not only refers to the creator, owner and manager of a business, but also to the project leader of a business. To define the entrepreneur, two problems relating to the behavior of economic agents must be combined: methodological individualism, according to which economic agents are calculators, and the theory of resource potential, according to which the rationality of economic agents is embedded in a network of social relationships. In other words, the entrepreneur is an economic agent whose ultimate goal is to create a business from a well-defined project. To realize his project, he mobilizes a number of resources (knowledge-based, financial and relationship-based), from which he produces other resources (employment, innovation, etc.), interacting with his environment. In this sense, the entrepreneur is rational, because he maximizes his resources in order to achieve a goal, which is to create his own job. In this sense, his behavior is opportunistic, because he seeks to take advantage of all the opportunities presented to him (a social relationship, a grant, a requirement, etc.). In these ...

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Essay Samples on Entrepreneurship

What is entrepreneurship in your own words.

What is entrepreneurship in your own words? To me, entrepreneurship is the art of turning imagination into reality, the courage to chart unexplored territories, and the commitment to leave a lasting mark on the world. It's a journey of boundless creativity, relentless innovation, and unwavering...

Entrepreneurship

What is Entrepreneurship: Unveiling the Essence

What is entrepreneurship? This seemingly straightforward question encapsulates a world of innovation, risk-taking, and enterprise. Entrepreneurship is not merely a business concept; it's a mindset, a journey, and a force that drives economic growth and societal progress. In this essay, we delve into the multifaceted...

Social Entrepreneurship: Harnessing Innovation

Social entrepreneurship is a transformative approach that merges business principles with social consciousness to address pressing societal challenges. This unique form of entrepreneurship goes beyond profit-seeking and focuses on generating innovative solutions that create positive change in communities. In this essay, we explore the concept...

Evolution of Entrepreneurship: Economic Progress

Evolution of entrepreneurship is a fascinating journey that mirrors the changes in society, economy, and technology throughout history. From humble beginnings as small-scale trade to the modern era of startups, innovation hubs, and global business networks, entrepreneurship has continuously adapted to the dynamic landscape. This...

Importance of Entrepreneurship: Economic Growth and Societal Transformation

Importance of entrepreneurship transcends its role as a mere business activity; it stands as a driving force behind innovation, economic growth, and societal transformation. Entrepreneurship fosters the creation of new products, services, and industries, while also generating employment opportunities and catalyzing economic development. This essay...

Economic Growth

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Entrepreneurship as a Career: Navigating the Path of Innovation

Entrepreneurship as a career is a compelling journey that offers individuals the opportunity to create their own path, shape their destiny, and contribute to the economy through innovation. While the road to entrepreneurship is laden with challenges and uncertainties, it is also marked by the...

Corporate Entrepreneurship: Fostering Innovation

Corporate entrepreneurship represents a strategic approach that empowers established organizations to embrace innovation, take calculated risks, and explore new opportunities. In an ever-evolving business landscape, the concept of corporate entrepreneurship has gained prominence as companies seek to maintain their competitive edge and adapt to changing...

Challenges Faced by Entrepreneurs: Innovation and Success

Challenges faced by entrepreneurs are a testament to the intricate journey of turning visionary ideas into tangible realities. While entrepreneurship is often associated with innovation and opportunity, it's also characterized by a multitude of hurdles and obstacles that test an entrepreneur's resilience and determination. In...

300 Words About Entrepreneurship: Navigating Innovation and Opportunity

About entrepreneurship is a dynamic journey that involves the pursuit of innovation, creation, and the realization of opportunities. It is the process of identifying gaps in the market, envisioning solutions, and taking calculated risks to bring new products, services, or ventures to life. Entrepreneurs are...

Best topics on Entrepreneurship

1. What is Entrepreneurship in Your Own Words

2. What is Entrepreneurship: Unveiling the Essence

3. Social Entrepreneurship: Harnessing Innovation

4. Evolution of Entrepreneurship: Economic Progress

5. Importance of Entrepreneurship: Economic Growth and Societal Transformation

6. Entrepreneurship as a Career: Navigating the Path of Innovation

7. Corporate Entrepreneurship: Fostering Innovation

8. Challenges Faced by Entrepreneurs: Innovation and Success

9. 300 Words About Entrepreneurship: Navigating Innovation and Opportunity

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So You Want to Be an Entrepreneur?

Emily Heyward

One founder’s advice on what you should know before you quit your day job.

Starting a business is not easy, and scaling it is even harder. You may think you’re sitting on a completely original idea, but chances are the same cultural forces that led you to your business plan are also influencing someone else. That doesn’t mean you should give up, or that you should rush to market before you’re ready. It’s not about who’s first, it’s about who does it best, and best these days is the business that delivers the most value to the consumer. Consumers have more power and choice than ever before, and they’re going to choose and stick with the companies who are clearly on their side. How will you make their lives easier, more pleasant, more meaningful? How will you go out of your way for them at every turn? When considering your competitive advantage, start with the needs of the people you’re ultimately there to serve. If you have a genuine connection to your idea, and you’re solving a real problem in a way that adds more value to people’s lives, you’re well on your way.

When I graduated from college in 2001, I didn’t have a single friend whose plan was to start his or her own business. Med school, law school, finance, consulting: these were the coveted jobs, the clear paths laid out before us. I took a job in advertising, which was seen as much more rebellious than the reality. I worked in advertising for a few years, and learned an incredible amount about how brands get built and communicated. But I grew restless and bored, tasked with coming up with new campaigns for old and broken products that lacked relevance, unable to influence the products themselves. During that time, I was lucky to have an amazing boss who explained a simple principle that fundamentally altered my path. What she told me was that stress is not about how much you have on your plate; it’s about how much control you have over the outcomes. Suddenly I realized why every Sunday night I was overcome with a feeling of dread. It wasn’t because I had too much going on at work. It was because I had too little power to effect change.

EH Emily Heyward is the author of Obsessed: Building a Brand People Love from Day One (Portfolio; June 9, 2020). She is the co-founder and chief brand officer at Red Antler, a full-service brand company based in Brooklyn. Emily was named among the Most Important Entrepreneurs of the Decade by Inc. magazine, and has also been recognized as a Top Female Founder by Inc. and one of Entrepreneur’s Most Powerful Women of 2019.

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To be successful in sustainable business practices often requires entrepreneurship and innovation. This chapter provides an overview of entrepreneurship and innovation as it relates to sustainable business. The discussion is most relevant to sustainable businesses focused on offering new products and services in response to societal concerns. The importance of entrepreneurship and innovation also applies to companies that change how they produce products and services. The latter companies can use innovative practices and entrepreneurship to establish their brand name and to be market leaders in doing things that create shared value for society and their companies and also, over time, contribute to changes in practices in their industry.

KEY TAKEAWAYS

To be successful in sustainable business practices often requires entrepreneurship and innovation.
Entrepreneurship and innovation are relevant in for-profit and nonprofit ventures.
Entrepreneurship can be viewed as recognizing change, pursuing opportunity, taking on risk and responsibility, innovating, making better use of resources, creating new value that is meaningful to customers, and doing it all over again and again.
Being an entrepreneur requires taking on significant responsibility and comes with significant challenges and potential rewards.
Entrepreneurship is a mind-set, an attitude; it is taking a particular approach to doing things.
The motivations for becoming an entrepreneur are diverse and can include the potential for financial reward, the pursuit of personal values and interests, and the interest in social change.
For innovation to be relevant for sustainable businesses, it has to be meaningful and affect a large number of stakeholders.
Successful entrepreneurship often requires creativity and innovation in addressing a new opportunity or concern in a new way.

Exercise $\PageIndex{1}$

Interview an entrepreneur in your city or town. Identify why the individual started their business and what has been most important to their success. Then investigate why Mark Zuckerberg became an entrepreneur and founded Facebook. What motivated him to start a new venture? What keeps him motivated to grow Facebook? What do you attribute his success to? Has he been an agent for social change?

Exercise $\PageIndex{2}$

Assess your likelihood of becoming an entrepreneur. Were your parents entrepreneurs? Are they presently entrepreneurs? Do you have the mind-set, attitude, and way of thinking of an entrepreneur? If not, could you change to pursue a business interest? What passions or interests do you have that could translate to an entrepreneurial pursuit? Do you readily take on new challenges? Are you a risk taker? Are you interested in making a lot of money? Are you interested in social change?

Exercise $\PageIndex{3}$

Identify the role model entrepreneur for you. Is there any entrepreneur that you are familiar with who you think of as a role model or as a model that other entrepreneurs should emulate? Describe the entrepreneur and why you think of them as a role model.

Exercise $\PageIndex{4}$

Using the business media, identify a for-profit enterprise that has a strong social mission. Then using a nonprofit media source, identify a nonprofit organization that has strong similarities to a for-profit entrepreneurial venture.

Exercise $\PageIndex{5}$

Think of three new types of innovations that are needed to help address ecological and social concerns. Have any ventures been started to commercialize these types of innovations?

Exercise $\PageIndex{6}$

Investigate public polices in your state or city (using government websites) that work to promote sustainable business entrepreneurship. And identify new policies that could be established to help support sustainable businesses.

Home — Essay Samples — Business — Technology in Business — Entrepreneurship and Innovation

Entrepreneurship and Innovation: Startup Hubs

Categories: Starting a Business Technology in Business

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Published: Apr 11, 2019

Words: 2055 | Pages: 4 | 11 min read

Innovation and entrepreneurship (essay)

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5.4 Conclusion

Key Takeaways

To be successful in sustainable business practices often requires entrepreneurship and innovation.
Entrepreneurship and innovation are relevant in for-profit and nonprofit ventures.
Entrepreneurship can be viewed as recognizing change, pursuing opportunity, taking on risk and responsibility, innovating, making better use of resources, creating new value that is meaningful to customers, and doing it all over again and again.
Being an entrepreneur requires taking on significant responsibility and comes with significant challenges and potential rewards.
Entrepreneurship is a mind-set, an attitude; it is taking a particular approach to doing things.
The motivations for becoming an entrepreneur are diverse and can include the potential for financial reward, the pursuit of personal values and interests, and the interest in social change.
For innovation to be relevant for sustainable businesses, it has to be meaningful and affect a large number of stakeholders.
Successful entrepreneurship often requires creativity and innovation in addressing a new opportunity or concern in a new way.
Interview an entrepreneur in your city or town. Identify why the individual started their business and what has been most important to their success. Then investigate why Mark Zuckerberg became an entrepreneur and founded Facebook. What motivated him to start a new venture? What keeps him motivated to grow Facebook? What do you attribute his success to? Has he been an agent for social change?
Assess your likelihood of becoming an entrepreneur. Were your parents entrepreneurs? Are they presently entrepreneurs? Do you have the mind-set, attitude, and way of thinking of an entrepreneur? If not, could you change to pursue a business interest? What passions or interests do you have that could translate to an entrepreneurial pursuit? Do you readily take on new challenges? Are you a risk taker? Are you interested in making a lot of money? Are you interested in social change?
Identify the role model entrepreneur for you. Is there any entrepreneur that you are familiar with who you think of as a role model or as a model that other entrepreneurs should emulate? Describe the entrepreneur and why you think of them as a role model.
Using the business media, identify a for-profit enterprise that has a strong social mission. Then using a nonprofit media source, identify a nonprofit organization that has strong similarities to a for-profit entrepreneurial venture.
Think of three new types of innovations that are needed to help address ecological and social concerns. Have any ventures been started to commercialize these types of innovations?
Investigate public polices in your state or city (using government websites) that work to promote sustainable business entrepreneurship. And identify new policies that could be established to help support sustainable businesses.

Essay on Entrepreneurship

Introduction

Entrepreneurship is a term that is widely applicable in the world of business. There are different definitions of the term entrepreneurship. The first definition identifies entrepreneurship as the process of creating a new business, with a view of making profits while bearing in mind all the risks that are involved. Different scholars have had their opinions about the description of the term entrepreneurship, including Stevenson, a renown expert in the topic. He defined entrepreneurship as the pursuit of opportunity beyond resources controlled. His definition is still widely applied by many in the world of business (Venkataraman, 2019). The second definition is linked to one Frank Knight, who defined it as the bearing of uncertainty and responsibility for risks within the financial market. Joseph Schumpeter also contributed significantly by defining entrepreneurship as the creation of new things in search of profits. Schumpeter also asserts that the role of creating new things is not only left to companies and other businesses but also individuals who make efforts in the area. The researcher introduced the concept of creative destruction to mean creation and invention of a new idea in the market that calls for the demise of the existing competitor. For instance, the emergence of Smartphones killed use traditional means of communication, such as telephone boots and regular use of letters. As such, Joseph Schumpeter contributed significantly as the term creative destruction is universal in the marketing. Marketing is a lucrative field that requires creativity for one to make an impact in the market. Fourth is Israel Kirzner who defined entrepreneurship as the process that led to discovery. It is important to note that most of the definitions by various scholars share a familiar concept, risk-taking and opportunity exploration.

A venture is considered as a small business that is started by one individual or groups with a view of gaining financially. The profits from the investment benefit all the backers of that particular project or business. There are many different ventures that an individual can offer to invest in. An enterprise should aim to make a financial gain to the individual or group that invested. The risk-taking tendency by entrepreneurs and the idea of profit making coincides with the typology of entrepreneurship. Examples of entrepreneurship ventures that many can get into include gazelle, microenterprise, small/lifestyle and medium enterprises.

A gazelle enterprise is a business venture that experiences rapid growth annually for period of over four years. Revenues of such an enterprise increase yearly by over 20% and must have a base capital of at least $100,000. Such companies experience high sales growth rates regardless of their size. However, most of such business ventures operate on the lower end of the scale. Company growth can be measured by the turnover or the number of employees working for the enterprise.

The second entrepreneurial venture is a microenterprise that employs a small number of people, usually less than 10. Microenterprises are started by small amounts of capital and they specialize in providing goods and services within its locality. All microenterprises venture into simple product lines and operate on small scale. Microenterprises contribute largely to the economy as they create employment. Business owners in such ventures enjoy small profits, which they use to improve their standards of living. As such, microenterprises agree to the typology of entrepreneurship by making profits for those who invest.

Small or lifestyle enterprises are business ventures started with aim of sustaining or maintaining a certain level of income. Such enterprises aim at sustaining a certain level of lifestyle for the entrepreneur. They employ a small number of people and maintain certain level of assets for owners. Lifestyle enterprises play a key role in employing people at the same time maintains a particular lifestyle for the owner, thereby, complying with the typology of entrepreneurship.

Medium size enterprises employ between 50 and 500 employees depending on the legislation in that specific nation. Such enterprises have a specified value of assets and in the UK, they have less than 250 employees. In the year 2013, there were over 5.2 million medium sized businesses, which comprised of over 99% of enterprises in the country. The aim of medium business enterprises is to make profit like any other entrepreneurial venture. As such, medium sized business enterprises agree to the typology of entrepreneurship.

According to Wennekers and Thurik (1999), a Schumpeterian entrepreneur is one who aims at capitalizing on the existing entrepreneurial abilities to make profits. In other words, a Schumpeterian entrepreneur will assess the current businesses that are operating and think of better services to people. The Schumpeter concept is Austrian. Existing product and service lines in the market require improvements for better service delivery (Wennekers & Thurik, 1999). A Schumpeter entrepreneur is an individual who capitalizes on such opportunities with a view of providing better services while making profits. An intrepreneur is a person who works for a particular organization and identifies better ways to improve quality and service delivery to customers. Innovative product development and marketing is the role of a manager working for that specific organization. As such, the manager is referred to as an entrepreneur. Managerial business owner is an individual who invests in a venture and entirely owns the business. Administrative business owners are not responsible for innovation and creative destruction in the market as these remains the work of managerial entrepreneurs. The main difference between the three terms described is that an administrative business owner is responsible for financing the venture while the rest work for the owner to ensure innovation and product development. A similarity known among the three types of entrepreneurs is the fact that they all aim to make profits for the owner of the business.

Miles & Snow (2009) classified organizations into four types, including prospector, defender, analytical and follower businesses. A prospector implies an organization that has difficulties in locating and exploiting a new product in the market. Such ventures require constant examination of the continually changing business world to succeed. The element of unpredictability makes a continuous check-up of the market a necessity to establish strategic production. According to the two researchers, prospector organizations have comprehensive product and service lines. Production in such cases prefers to promote creativity to efficiency. Defender organizations are defined as those entities that cannot survive in unstable environments (Miles, Miles, Snow, Blomqvist & Rocha, 2009). Their worry is how to maintain their current market share hence the need for them to operate in a relatively stable business environment. Cost leadership and specialization in a specific product line can well help solve the problem. Analyzer organizations refer to those that have both prospector and defender organization characteristics. They face a challenge of establishing in new markets and at the same have a problem of maintaining their current market share. Follower organizations refer to organizations that do not make long-term plans for business but instead ensure that managers study the dynamic world fast enough to cope with the changes.

Steve Blank in 2010 asserts that there are four types of entrepreneurs, namely small business owners, scalable, large business owners and large entrepreneurs. Small business owners face known risks in the market as they venture into product lines and services that are already known. A scalable business idea digs into the existing opportunity and turns it into a larger business through the expansion of its business activities. The aim of setting up such business entities is to take over the existing market and turn it out to make huge profits. On the other hand, a large business is an entity that has over 5000 employees or has a high financial turnover of over 1.5 billion Euros in a year (Blank, 2010). Any venture that does not feature any of the two characteristics or both of them cannot be termed as a large business. Social entrepreneurship involves start-up companies raising funds to solve cultural, social and environmental problems.

The data presented is indicative of the importance of having small businesses and startups within the economy. The data is extracted from the office of national statistics in the United Kingdom. Moreover, the data presented include information regarding micro-businesses and small businesses contribution to the economy of the region that they operate. For instance, from the year 2010 to 2017, the country has been registering an increasing trend indicating that such businesses play a crucial role. On employment, micro-business ventures employed over 4,618,315 people in 2010, and by 2017 (“Employment – ONS”, 2019), the number of those depending on such businesses rose to 5,491,009. On the other hand, small businesses employed over 3,785, 801 people in the year 2010 to a whopping 4,450, 716 by 2017. As such, micro and small businesses within the economy play a key role in ensuring increased employment opportunities as indicated by statistics from the national office in the UK.

Another vital aspect presented in the data provided is the turnover involved annually in the event of operating such businesses. Like the data on employment, the turnover for both micro and small businesses has been fluctuating from the year 2010. It is also critical to note from the data that in some years, the turnover reduced instead of increasing. For instance, in 2010 the turnover for both micro and small businesses was 589,871,148 and 549,139,326 billions of Euros, respectively. In the following year 2011, the turnover reduced to 552,345,550 and 508,579,840, respectively. However, the figures have increased as of 2017 to 791,771,342 and 616,807,735 respectively. The growth in the turnover of micro and small businesses is a clear indication that they contribute positively to the growth of the economy in the United Kingdom.

In terms of inventory and general count, micro and other small businesses have significantly contributed and have seen an expansion. This is indicated by the data provided as the numbers have changed from 2010 to 2017. In the year 2010, micro-businesses had a count of 1,861,590, which increased to 2,386, 740 by 2017. Additionally, small businesses increased their count from 196, 520 in the year 2010 to a whopping 231, 715 in the year 2017. The graphs provided indicates the trend that has been experienced in the economy in regards to micro and other small businesses. Such ventures are contributing positively to the economy of the United Kingdom.

Small businesses and start-ups play a crucial role in the growth of the social economy. Social economy comprises a diversity of enterprises and organizations sharing common values and features. Such may include cooperatives, mutuals, associations, foundations, paritarian institutions and social enterprises who value social objectives over capital. The first and most important role that the businesses play is the creation of employment (Burns, 2016). For instance, in the United States in the year 2015, small businesses and startups created over 1.9 million jobs. There are over 30.2 million small businesses in the United States who employ approximately 58 million people. As such, small businesses contribute primarily to the growth of the economy by creating jobs.

Second, small scale businesses and start-ups contribute by ensuring that the GDP of the country grows. Social economy contributes to the overall GDP sum and its growth projects more taxes to be paid. A small business thriving locally will have more to give as taxes to the local government and hence a contribution to the GDP. Such money can be used locally to develop infrastructure within the community. As such, small businesses play a vital role in ensuring that the well-being of the community improves in the long run.

Small businesses quickly adjust to changes in the economic environment and act as a cushion to the local economy in cases where large businesses have failed. This is because in cases of unpredictability in the market, small business owners are customer-oriented and can flex quickly to suit the needs of the market. Large businesses have few options in case of a similar predicament and may not help the local economy as anticipated. As such, all small businesses around the world contribute positively to the growth of the social economy as their interest is not capital-driven.

Blank, S. (2010). What’s A Startup? First Principles. Steve Blank .

Burns, P. (2016). Entrepreneurship and small business . Palgrave Macmillan Limited.

Employment – ONS. (2019). Retrieved 23 July 2019, from https://webarchive.nationalarchives.gov.uk/20160105164129/http://www.ons.gov.uk/ons/taxonomy/index.html?nscl=Employment

Miles, R. E., Miles, G., Snow, C. C., Blomqvist, K., & Rocha, H. (2009). The I-form organization. California Management Review , 51 (4), 61-76.

Venkataraman, S. (2019). The distinctive domain of entrepreneurship research. In Seminal Ideas for the Next Twenty-Five Years of Advances (pp. 5-20). Emerald Publishing Limited.

Wennekers, S., & Thurik, R. (1999). Linking entrepreneurship and economic growth. Small business economics , 13 (1), 27-56.

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Essay on Entrepreneurship: Top 9 Essays | Business Management

Here is a compilation of essays on ‘Entrepreneurship’ for class 11 and 12. Find paragraphs, long and short essays on ‘Entrepreneurship’ especially written for school and college students.

Essay on Entrepreneurship

Essay Contents:

Essay on the Benefits of Entrepreneurship

Essay # 1. Introduction to Entrepreneurship:

Entrepreneurship is the name given to the factor of production which performs the functions of Enterprise. In economics, Land, Labour, Capital, Organisation and Enterprise are the five factors which are thought to be the basis of all the production activities.

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Entrepreneurship in a broader sense can be considered as a process of action undertaken by an entrepreneur (Person) to establish his enterprise. It is a creative and innovative response to the environment.

Entrepreneurship can be described as a creative and innovative response to the environment. Such responses may take place in any field of social endeavour may be business, agriculture, social work and education etc.

For the entrepreneur it is important to have knowledge about the economic and political environment, more particularly about the economic policies of the government and the financial as well as commercial institutions.

Thus a simple definition of entrepreneurship is doing new things or doing things which are already being done in a new way.

According to Dr. J.E. Stepenek, “Entrepreneurship” is the capacity to take risk; ability to organise and desire to diversify and make innovations in the enterprise.

According to Higgins, Entrepreneurship is meant for the function of seeing investment and production opportunity, organising in enterprise to undertake a new production process, raising capital, hiring labour, arranging the supply of raw materials, finding site, introducing new techniques and commodities, discovering new sources of raw materials and selecting top managers for day to day operation of the enterprise.

It may be concluded that entrepreneurship is a composite skill, the resultant of many qualities and traits. These include, imagination ready to take risk, ability to bring together and utilize other factors of production such as capital, land and labour along with intangible factors such as capability to mobilise scientific and technological developments.

Entrepreneurship thus involves taking risk and making essential investments under conditions of uncertainty. At the same time it is connected with innovation, planning and taking decisions so as to increase productivity in industry, business and agriculture etc. It thus plays a key role in the process of economic development.

Essay # 2. Definition of Entrepreneurship:

Entrepreneurship is a process of action an entrepreneur undertakes to establish his enterprise. Entrepreneurship is a resultant mix of many qualities and traits of an entrepreneur.

Entrepreneurship can be defined as a process undertaken by entrepreneur to augment his business interests. It is an exercise involving innovation and creativity that will go towards establishing his/her enterprise.

Entrepreneurship is the inclination of mind to take calculated risks with confidence to achieve a predetermined business or industrial objectives.

Essay # 3. Growth and Success of Entrepreneurship :

Entrepreneurship has opened avenues of great scope in the Indian economy. Our national economy is most suited to the growth of small business enterprise. Small business units offer a more convenient means of nurturing and developing entrepreneurship by providing the means of entry into business for new entrepreneurship talents. Small-scale industries are labour-intensive and can play an important role in solving the problem of unemployment.

Success of Entrepreneurship :

Following aspects are necessary for the successful entrepreneurship:

1. Regular inflow of information related to buyers, consumers, distributors, dealers, retailers, transporters etc., about raw material, quality aspects, government organisations, employees and competitors.

2. Satisfying the needs of customers.

3. Generation of adequate cash flow.

4. Regular objective assessment of the enterprise.

5. Improving productivity.

6. Maintenance of quality.

7. Use of technology of the time.

8. Be innovative.

9. Keep employees motivated.

10. Scrap or waste material be utilised properly.

11. Time management.

Essay # 4. Entrepreneurial v/s Managerial Styles :

An entrepreneur is a person who is motivated to satisfy a high need for achievement in innovative and creative activities. This creative behaviour and innovative spirit forms a process of an endless chain and is termed as entrepreneurship. An entrepreneur is also required to manage his business. He has to perform both entrepreneurial and managerial functions. After the start of the business he becomes more as manager.

Manager is one who specialises in the work of planning, organising, leading and controlling the efforts of others. He does it through systematic use of his classified knowledge and principles. He should have an insight of job requirement, which he should continuously update.

An entrepreneur must adopt the style of professional management. He must organise managerial functions by setting long term objectives, formulating strategic policies, developing management information system, monitoring and evaluation systems. He is required to possess management knowledge related to technical, economical, financial, human and administrative aspects.

There is a vast difference between owner-manager and professional-manager. The owner- manager is identified with individuality, flair, strong motivation to achieve success and prosper, while the professional-manager is concerned with the planning, organising, motivating and controlling. Owner-manager builds the organisation, assumes all business risks, and also loses his reputation and prestige in the event of failure of business, whereas professional-manager is not exposed to such risks.

Thus entrepreneurship is a process of combining resources to produce new goods or services and reappears to initiate another change. Entrepreneurs are also required to play other roles, especially those of capitalist and manager. Managerial function of an entrepreneur is a continuous process of combining the factors related to production.

Essay # 5. Entrepreneurial Development :

For the economic development, entrepreneurial development is necessary. For the purpose of entrepreneurial development, rapid growth of small scale sector is necessary. Entrepreneurial development programmes are designed to help a person in strengthening his entrepreneurial motive and in acquiring skills and capabilities necessary for playing his role effectively.

Main objective of the entrepreneurial development programme is to motivate and assist prospective and potential entrepreneurs to set up small scale units of their own and thus become self-employed and contribute significantly to production and employment in the country.

Entrepreneurial development programme must be designed properly and should incorporate the following:

(i) Developing, achievement, motivation and sharpening entrepreneurial traits and behaviour.

(ii) Project planning and development, and guidance on industrial opportunities, incentives and facilities, rules and regulations.

(iii) Developing managerial and operational capabilities.

Keeping the target group and target area in view various strategies and approaches are adopted. The process of entrepreneurial development is designed very carefully and starts from identifying the potential and right candidates, linking suitable project with each one, and then training and developing the managerial and entrepreneurial capabilities, counseling and motivating them, and then providing the required follow-up support to help them in establishing their venture.

Objectives :

Objectives of entrepreneurial development programme are to help to:

(i) Develop and strengthen their entrepreneurial quality.

(ii) Analyse environment related to small business and small industry.

(iii) Select product and its project.

(iv) Formulate projects.

(v) Understand the procedure for setting up of small enterprise.

(vi) Support needed for launching the enterprise.

(vii) Acquire basic management skills.

(viii) Appreciate the social responsibilities.

(ix) Let him set the objectives of his business.

(x) Prepare him to accept risks.

(xi) Take strategic decisions.

(xii) Develop communicating skills.

Training for Entrepreneur :

Proper training is essential for the success of any industry in production techniques, management, marketing and other aspects.

Small Industries Service Institutes and their Extension Centres are organising trainings:

(i) To improve technical skills of workers,

(ii) For acquainting the entrepreneurs with advanced production and management techniques.

The courses for workers are organised in the following areas:

(a) Shop practice courses such as machine shop practice, tool room practice, foundry, blacksmithy, electrical shop practice etc.

(b) Trade oriented courses, such as tool making, fitter, sheet metal, pattern making, carpentry etc.

(d) Product oriented courses, sport goods, foot wear, paint, varnish making etc.

Training programmes for entrepreneurs are of two types namely:

(i) For graduate and diploma holder engineers, physics and chemistry graduates and

(ii) For rural artisans, educated unemployed, ex-servicemen, weaker sections of the society, women entrepreneurs etc. with special courses for each of the categories of persons.

For providing training and upgradation of technology and managerial skills, specialised institutions have been set up.

For conducting entrepreneurship development programmes, the lead was given by Small Industries Development Organisation through its small industries service centres. Entrepreneurship Development Institute of India (EDII) was established in 1983 at Ahmedabad as a resource organisation at the national level for the purpose of creating the institutional infrastructure for entrepreneurship development.

National Institute for Entrepreneurship and Small Business Development (NIES BHD) was established by the central Government at New Delhi, with the objective of coordinating activities related to entrepreneurship and small business development.

In addition, institutions established by the Government are:

(i) Rural Entrepreneurship Development Institute (RED) at Ranchi.

(ii) Rural Management and Management Centres (RMEDC) at Maharashtra.

Other organisational actively conducting entrepreneurship development programmes are:

(i) State Bank of India

(iii) Centre for Entrepreneurship Development at Ahmedabad and Hubli.

(iv) State financial corporations.

(v) Industrial consultancy organisations in various states.

(vi) Small Industries Extension Training Institute, Hyderabad.

(vii) Institute of Entrepreneurship Development (IEDs) in Uttar Pradesh, Bihar and Orissa.

(viii) Management Development Institute (MDI) at Gurgaon (Haryana) near Delhi.

Some of the other institutions for entrepreneurial development are:

1. Central Institute of Tool Design, Hyderabad.

2. Central Tool Room and Training Centre, Calcutta.

3. NI SIET, Guwahati.

4. Institute for Design of Electrical Measuring Instruments, Bombay.

5. Electronic Service and Training Centre, Ramnagar.

6. Process-cum-Product Development Centre for Glass and Ceramic Industry, Ranchi.

7. Process and Product Development Centre, Agra.

8. Process and Product Development Centre, Meerut.

9. Central Institute of Hand Tools, Jalandhar.

10. Hand Tool Design Development and Training Centre, Nagpur.

11. New Indo-Danish Tool Rooms, Jamshedpur and Bhubaneswar.

12. Ino-German Tool Rooms-Indore, Ahmedabad and Aurangabad.

13. National Institute for Entrepreneurship & Small Business Development, New Delhi.

14. National Institute of Design, Ahmedabad.

15. Centre for the Improvement of Glass Industry, Firozabad.

16. National Council for Cement and Building Materials, Delhi, Ballabgarh, Hyderabad, Patna and Madras.

17. Indian Plywood Industries Research Institute, Bangalore.

18. Central Pulp and Paper Research Institute, Saharanpur.

19. National Federation of Industrial Cooperatives Limited, New Delhi.

20. Central Machine Tool Institute, Bangalore.

Essay # 6. Beliefs Regarding Entrepreneurship:

According to literature there are many myths about entrepreneurship:

But myths and realities about its are different as follows:

1. Myth about entrepreneurs is that they are born not made but “reality” is that entrepreneur characteristics and traits may be acquired through properly structured learning.

2. Myth regarding entrepreneurs is that all required is money but generally it is observed that excessive and surplus money reduces the risk taking opportunities, scarce for care resources and grasp for opportunities.

3. Myth regarding entrepreneurship is that it is profile of traits and characteristics but practically it is a combination of situational issues.

4. Myth about entrepreneurs is doer not thinkers whereas the reality is that frequent thinking in planning, creativity, innovation and risk taking is required.

5. As per myth “Business schools have no place in entrepreneurship” but in actual practice most of the successful entrepreneurs have come from engineering courses and business schools.

Essay # 7. Financing of Enterprise :

Finance is the main input of any enterprise. The entrepreneur needs capital to start with, and he also needs financial assistance at every stage of the project. Project finance is required for both short term and long term.

(a) Short-term Finance:

These usually refer to the funds required for a period of less than one year. These are usually required to meet variable, seasonal or temporary working capital requirements. Main sources for short term finance are borrowing from banks, trade credit, installment credit and customer advances.

(b) Medium-term Finance:

Period of one year to five years are regarded as a medium- term. These are generally required for permanent working capital, small expansions, replacements, modifications etc. These can be raised by issue of shares and debentures, borrowing from banks and other financial institutions, ploughing back of profits.

Periods more than 5 years are regarded as long-terms. These are required for procuring fixed assets, for substantial expansion, modernisation etc. Important sources of long-term finance are issue of shares and debentures, loans from financial institutions and ploughing back of profits.

Sources of Finance :

The sources from which the entrepreneurs can meet their financial needs for their projects are grouped as:

(a) Internal source, and

(b) External source.

In addition, the entrepreneur raises his finance by availing of available subsidies, state aid to industries etc. A judicious mix of funds from these sources should be given priority.

(a) Internal Sources of Finance:

(i) Personal and family savings.

(ii) Loans from L.I.C. and Provident Fund Account.

(iii) Loans against assets like land and property.

(iv) Loans against shares and debentures.

(v) Loans from relatives and friends.

(b) External Sources:

Substantial amount is required by an enterprise to buy machinery and equipment and to purchase land and buildings.

These finances are generally arranged from following sources:

(i) Borrowing from Banks.

(ii) Term-lending from institutions like IDBI; IFCI, Industrial Development Corporations etc.

(iii) From Government and Semi-Government agencies.

(iv) Other sources.

Institutional Finance :

Institutional finance is available for large, medium, small and tiny industries by commercial banks. Commercial banks include the State Bank of India group, nationalised banks, private sector banks and development corporations which have been especially established to provide industrial finance.

In addition, the Reserve Bank of India gives credit guarantees and the ECGC gives export guarantees to the small-scale sector. Industrial Development Bank of India (IDBI), by its refinance operations, plays a significant role in the promotion of the small scale- sector. The National Small Industries Corporation (NSIC) offers financial assistance in the form of its hire-purchase schemes.

Besides, new institutions like mutual funds, lease companies, financial service institutions, investment companies, merchant banks etc. provide financial assistance and financial services to industries.

Essay # 8. Factors Essential for Successful Entrepreneurship:

The following aspects/factors are essential for successful entrepreneurship:

1. Regular inflow of information concerning consumers or buyers, distributors and dealers/retailers, transporters, etc., about raw materials, quality aspects, competitors, government organization and employees.

2. Aspects regarding satisfaction of consumer requirements.

5. Aspects concerning productivity improvement.

6. Quality maintenance.

7. Utilization of upto date technology.

8. To be innovative in view of competition.

10. Proper utilization of scrap or waste material.

11. Proper time management.

Essay # 9. Benefits of Entrepreneurship :

Entrepreneurship has following three benefits for society:

1. Economic Growth:

These provide economic upliftment of society and generate labour employment.

2. Productivity Improvement:

It helped in improving the productivity, which means the ability to produce more goods and services with less labour and other inputs.

3. New technologies, products and services:

It helps in promoting innovative technologies, products and services.

Essay on Entrepreneurship | Management
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Tesla: a Visionary Entrepreneur who Revolutionized Industries

This essay about Nikola Tesla highlights his transformative contributions to science, engineering, and entrepreneurship. From his early years marked by curiosity and brilliance to his groundbreaking work on alternating current (AC) electrical systems and wireless communication, Tesla’s legacy continues to inspire innovation. His entrepreneurial spirit and unwavering dedication to clean, sustainable energy serve as a beacon for aspiring visionaries. His inventions, including the Tesla coil and induction motor, laid the foundation for modern technology, while his belief in the power of imagination remains a guiding principle in an age of rapid technological advancement. Tesla’s life and legacy exemplify the profound impact one individual can have on shaping the course of history.

How it works

In the annals of history, few names shine as brightly as that of Nikola Tesla. His legacy is as multifaceted as it is profound, spanning the realms of science, engineering, and entrepreneurship. Born in 1856 in the Serbian village of Smiljan, Tesla’s journey began amidst the pastoral landscapes of Eastern Europe. Little did the world know that this unassuming boy would grow up to become one of the most influential figures of the modern age.

Tesla’s early years were marked by an insatiable curiosity and a remarkable aptitude for mathematics and physics.

His education took him from the Polytechnic Institute in Graz, Austria, to the University of Prague, and eventually to the prestigious University of Budapest. It was during this time that Tesla first began to envision the technological marvels that would later define his career.

Upon immigrating to the United States in 1884, Tesla embarked on a journey that would forever alter the course of human history. His collaboration with Thomas Edison, although brief, laid the groundwork for his subsequent innovations in alternating current (AC) electrical systems. The “War of Currents” that ensued between Tesla and Edison epitomized the clash of ideas and personalities that often accompanies paradigm shifts in technology.

Despite facing numerous setbacks and financial challenges, Tesla persevered, driven by a singular vision of a world powered by clean, sustainable energy. His inventions, including the Tesla coil and the induction motor, laid the foundation for the modern electrical grid and paved the way for the widespread adoption of AC power.

Yet, perhaps Tesla’s most enduring legacy lies in his pioneering work on wireless communication and transmission of energy. His experiments with radio waves and wireless telegraphy foreshadowed the development of technologies such as radio, television, and the internet. In many ways, Tesla’s ideas were ahead of his time, and it is only in recent years that the full extent of his contributions has begun to be appreciated.

Tesla’s entrepreneurial spirit and unwavering dedication to his ideals serve as an inspiration to aspiring innovators and visionaries around the world. His belief in the power of imagination and the boundless potential of human ingenuity continues to resonate in an age defined by rapid technological advancement.

As we reflect on Tesla’s life and legacy, we are reminded of the transformative impact that one individual can have on the course of history. His legacy lives on not only in the technologies that bear his name but also in the spirit of innovation and exploration that he embodied. In the words of Tesla himself, “The present is theirs; the future, for which I really worked, is mine.” Indeed, the future that Tesla envisioned is still unfolding before our eyes, a testament to the enduring power of one man’s dream.

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Innovative Minds, High-Impact Solutions: How UC San Diego Accelerates MedTech

UC San Diego is a medical innovation powerhouse – and it’s our people who provide that power

Published Date

Story by: Miles Martin / [email protected]

Photos by: Erik Jepsen and David Baillot

Topics covered: MedTech , Innovation , Engineering , Biomedical , Bioengineering

Article Content

When bioengineering professor Stephanie Fraley, Ph.D . had the idea for a new technology that could saves lives, she knew that the trickiest element would not be the complex science behind her new approach, but bringing it to market so patients everywhere have access to the technology.

While developing a technology to help study how DNA unravels when heated, Fraley identified a way to use the approach to quickly identify the DNA of microorganisms responsible for causing sepsis.

Fraley and her team quickly linked up with one of UC San Diego’s 14 accelerators to bring her idea to market, launched her company, Melio , and joined the ranks of thousands of UC San Diego entrepreneurs who have leveraged the university’s rich entrepreneurial ecosystem and top-tier research enterprise to bring pioneering innovations to the public.

As fourth in the nation for startup creation, according to a 2022 survey by the Association of University Technology Managers, UC San Diego is a national leader in research and innovation where new ideas are regularly translated into societal impact. Across the ten campuses in the University of California system, one in four new inventions originate from UC San Diego.

In total, the University has helped launch over a thousand companies. Roughly two thirds of them are in the life sciences, encompassing everything from biotechnology to medical technology (medtech). The latter, loosely defined as any technological innovation that helps better understand, diagnose, or treat a human health condition, comprises about one-third of UC San Diego’s startups.

To support this vast output, the university has set up a robust innovation ecosystem that encompasses dozens of individual offices and programs that help researchers turn their ideas into reality. These include 14 accelerators and incubators and the new Design and Innovation Building , which contains space and resources, including tech transfer support and a 10,000 square foot makerspace, for faculty and students to guide products from design through commercialization.

While space and resources are essential to developing these solutions, UC San Diego has something else going for it that drives its innovation in the medical space: the ability to facilitate multidisciplinary collaborations between faculty from across the campus’ innovation ecosystem. Key to this effort is the Office of Innovation and Commercialization (OIC), which aligns innovation resources at UC San Diego and provides support for researchers at every phase of the commercialization process, from the earliest patent applications to the final product launch.

“As the medical problems we face in society become more complex, new innovations in medicine are crucial for shaping the future of health care. In this intersection of research, entrepreneurship, and societal impact, UC San Diego is a world leader,” said Paul Roben, Ph.D., associate vice chancellor for innovation and commercialization and overseer of the OIC. “Institutions across the country are now emulating what UC San Diego does, because our approach to innovation works, especially when it comes to medicine.”

The MedTech Accelerator: Creating a community of innovators

While there are some three dozen different programs and offices that the OIC helps coordinate, one that has made a particularly strong impact on the medical innovation space is the Institute for the Global Entrepreneur (IGE), a joint effort between UC San Diego’s Jacobs School of Engineering and the Rady School of Management that seeks to inspire and prepare engineers to be entrepreneurial leaders who can fuel the economy and solve problems facing society.

The IGE supports researchers from all disciplines across campus, and its mission translates particularly well to medical inventions, according to Rebecca Deller, program manager for the IGE MedTech Accelerator , a training and mentorship program hosted by the IGE that helps researchers bring medical innovations to market.

“The thing that gets me really excited about the work happening at UC San Diego, particularly in the medical space, is the number of projects that are truly for the greater good,” said Deller. “That’s embedded into the culture we create here.”

Located on the ground floor of Franklin Antonio Hall, a new engineering building designed to facilitate interdisciplinary collaborations, the IGE MedTech Accelerator is located in the heart of the university’s innovation ecosystem, which Deller says is important to its success.

“We’re here to support anybody that’s doing deep, problem-solving research, and having such a prominent space for our scientists to meet and connect with prospective partners helps us bring ideas from all over the world into the work we’re doing at UC San Diego.”

The MedTech Accelerator program guides scientists and engineers from idea to marketable product in three stages. First, scientists complete a three-month training program that teaches them the ins and outs of the medtech industry and guides them through the earliest strategic phases for their invention, resulting in a draft business plan.

The next phases of the program pair them with experienced mentors that help them develop working prototypes, after which they work to validate their inventions in the clinic. These latter phases of the program don’t follow a strict timeline, allowing inventors to work at their own pace toward a successful product launch.

“People may graduate from our program, but in a lot of ways our alumni never fully leave, because we’re always here to support them and help them make new connections as their companies grow evolve,” added Deller.

Highlights from the MedTech Accelerator

Melio: out for blood in the fight against sepsis .

While Melio is now on the cusp of a successful commercial launch, their flagship pathogen detection system had humble origins in the lab, where it was initially being used to confirm the identity of organisms that had been isolated from clinical samples.

“We began to notice pathogens showing up in our tests that regular clinical tests couldn’t detect at all,” said Fraley, an associate professor in the Shu Chien-Gene Lay Department of Bioengineering at the UC San Diego Jacobs School of Engineering “That’s when we knew we had something unique, because our technology was able to very quickly and inexpensively detect new organisms that aren’t on typical diagnostic panels.”

At this point, around 2017, Fraley and her team were faced with a dilemma: how to turn their promising idea into a clinically viable product. Enrolling in the MedTech Accelerator program helped Fraley and her then-student and current Melio CEO, Mrida Sinha, Ph.D., fill in their missing knowledge and formulate an early business strategy.

For Fraley, the most valuable lesson she learned through the program was less about what to do, and more about what not to do.

“The professors who are most successful in translating their discoveries into new technologies quickly are the ones that know when to step back and rely on others’ expertise when needed,” she said. “We have been very fortunate to have a lot of great advisors supporting us in the aspects of business development we weren’t familiar with, and the MedTech accelerator has been instrumental in making those connections.”

Since their official launch in 2019, Melio is thriving. Still within Phase 3 of the MedTech accelerator, which focuses on clinically validating the technology, the company recently published the results of two pilot clinical studies testing their sepsis-detection technology in pediatric blood samples and adult bronchoalveolar lavage fluid. They found that their system detected pathogens within 4-6 hours, which was 7.5 hours to about 3 days faster than standard clinical blood culture.

“Long term, we think this could become a universal diagnostic tool that could be lifesaving for people of all ages, not just infants.” said Fraley. We’re grateful for the continued support of the IGE MedTech accelerator in helping us get there."

LIMBER: From classroom project to life-changing medtech

Joshua Pelz, Ph.D., is CEO of LIMBER Prosthetics , a medical startup that launched in 2020 and uses 3-D scanning and printing to make more accessible lower-limb prosthetics. The idea for LIMBER emerged in 2016 when Pelz was a doctoral student in structural engineering at UC San Diego. After seeing a guest lecture in a course on interdisciplinary engineering from ABC/BOC-certified prosthetist and orthotist Herb Barrack, he, Barrack, and his classmate Luca De Vivo Nicoloso, Ph.D., cofounded LIMBER on the idea of using 3-D printing to make prosthetic devices more accessible.

Early on, they knew the technology was promising. What they didn’t know was how to get it to the people who needed it. The MedTech Accelerator was there to bridge the gap. For Pelz, one of the most important new skills was developing a business plan.

Joshua Pelz is a graduate of the UC San Diego Jacobs School of Engineering and cofounder of LIMBER Prosthetics and Orthotics.

"The IGE created a low-barrier opportunity for us to explore the intricacies of entrepreneurship, something that I knew little about as a scientist and engineer," said Pelz. “We’d all like to think that great technology is enough to change the world, but bringing a product from lab to market requires a sustainable business model and the passion to endure through the difficult times.”

But the business plan was just the beginning for LIMBER. In 2023, after testing their product in Ensenada, Mexico, and securing a top prize at the San Diego Angel Conference, the LIMBER team received a landmark $250,000 seed investment from UC San Diego This marked the first time a UC campus has ever invested in one of its own spinoffs. Thanks to this initial support, which helped the company secure the additional funding needed to grow, LIMBER has now launched their product in the U.S. market.

And while Pelz and his team graduated from Phase 3 of the MedTech Accelerator in 2023, he emphasizes the enduring impact of UC San Diego’s support.

“I no longer have formal ties to UC San Diego as a student myself, but we as a company continue to work with student interns in an academic setting to further our research, and we do a lot of our testing through the University,” said Pelz. “This is a one-of-a-kind institution, and I’ve made it a point to keep those relationship strong because there’s still so much to be gained from our partnership.”

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Conclusion: Entrepreneurship Education for an Undergraduate Audience—A Review and Future Directions

First Online: 31 January 2022

Cite this chapter

Guillermo J. Larios-Hernandez ORCID: orcid.org/0000-0002-8288-7981 4 ,
Andreas Walmsley ORCID: orcid.org/0000-0002-2791-3315 5 &
Itzel Lopez-Castro 4

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Theorising Undergraduate Entrepreneurship Education incorporates philosophical and pedagogical aspects of entrepreneurship education (EE) research, evoking some of the potential outcomes that can be expected from teaching techniques, curricular and extracurricular programmes. From a philosophical viewpoint, while authors in this title introduce a mixture of theoretical perspectives to undergraduate entrepreneurship education (UEE), such as behaviourism, cognitivism, constructivism, and new perspectives such as humanism, these positions turn out to be largely complementary, strengthening the theoretical foundation of EE in higher education (HE).

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Larios-Hernandez, G.J., Walmsley, A., Lopez-Castro, I. (2022). Conclusion: Entrepreneurship Education for an Undergraduate Audience—A Review and Future Directions. In: Larios-Hernandez, G.J., Walmsley, A., Lopez-Castro, I. (eds) Theorising Undergraduate Entrepreneurship Education. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-87865-8_19

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Former OpenAI Board Member Reveals Why She Had CEO Sam Altman Fired New details have emerged about the board decision that shook the tech world.

By Sherin Shibu Edited by Melissa Malamut May 29, 2024

Key Takeaways

A recent TED AI Show podcast episode featured former OpenAI board member Helen Toner, who disclosed new details about why they fired CEO Sam Altman in November 2023.
In one example, Toner said that when ChatGPT debuted in 2022, the board learned about the release on Twitter.

A TED AI Show interview published Tuesday afternoon with former OpenAI board member Helen Toner reveals new details about the company's efforts to fire its billionaire CEO and cofounder Sam Altman and why she "just couldn't believe" what he was saying.

In November 2023, the board of ChatGPT-maker OpenAI fired Altman after determining that he "was not consistently candid in his communications." Days after the move, 95% of the company signed a letter threatening to quit unless Altman was reinstated.

Altman ended up getting his job back less than a week after he was fired, and he remains OpenAI's CEO today, but one question lingered after the attempted ouster: Why exactly did the board move to fire him in the first place?

Related: Scarlett Johansson 'Shocked' That OpenAI Used a Voice 'So Eerily Similar' to Hers After Already Telling the Company 'No'

On the podcast, Toner, a research strategy director at Georgetown University, said board members reached a point where they couldn't trust Altman.

Toner claimed that Altman was "withholding information, misrepresenting things that were happening at the company," and "outright lying to the board" for years.

Toner gave specific examples, first saying that when ChatGPT came out in November 2022, the board learned about the release through Twitter — they had not known it was coming out ahead of time.

What has *really* been happening at OpenAI? Former board member @hlntnr and host @bilawalsidhu take a peek behind the curtain — plus the future of government regulation of AI. Listen to The TED AI Show on @AmazonMusic or wherever you get your podcasts: https://t.co/wZh1JsVy7m pic.twitter.com/kc31ElaZiC — TED Talks (@TEDTalks) May 28, 2024

Toner said that Altman also didn't tell the board that he "owned" the OpenAI Startup Fund, a $175 million fund for early-stage AI companies. His ownership contradicted his claim that he was "an independent board member with no financial interest in the company," according to Toner.

The fund's website reads that "OpenAI itself is not an investor" at the time of writing.

Toner also accused Altman of giving the board "inaccurate information about the small number of formal safety processes that the company did have in place" and that the board didn't know how well the company's AI safety features were performing or any changes that had to be made.

Top OpenAI safety researchers have left the company recently; OpenAI dissolved the group they led and created a new safety team this week led by Altman.

Related: Now that OpenAI's Superalignment Team Has Been Disbanded, Who's Preventing AI from Going Rogue?

Two OpenAI executives also shared with the board that they didn't think Altman was the right person to lead the company, sharing screenshots and documentation revealing a "toxic" atmosphere.

"All four of us who fired him came to the conclusion that we just couldn't believe things that Sam was telling us," Toner said. "That's a completely unworkable place to be in as a board, especially a board that is supposed to be providing independent oversight over the company, not just helping the CEO raise more money."

When asked why 95% of OpenAI's staff wanted Altman back at the helm, Toner said that the situation could have been portrayed to employees as either Altman coming back or the company being destroyed.

OpenAI responded to Toner's statements by saying that it conducted an "extensive review" of the board's attempt to fire Altman and found that the decision "was not based on concerns regarding product safety or security, the pace of development, OpenAI's finances, or its statements to investors, customers, or business partners."

The Giving Pledge announced on Tuesday that Altman has pledged to give away most of his wealth.

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Entrepreneurship From Different Perspectives Reflective Essay

To find inspiration for your paper and overcome writer’s block
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Introduction

Positive aspects of entrepreneurship, negative side of entrepreneurship, philip medical systems.

The health care industry has been undergoing tremendous transformation in the last three decades. These transformations have created both enormous opportunities and threats and at the same time, it has led into realization of creation of new organizations. Entrepreneurship is one of the opportunities that have resulted and drastically increased due to the changes in health care environment; indeed, it has become the best and effective strategic response to threats that are produced by the changes (Blair, 2007, p.130).

Discovering entrepreneur opportunity in health care generally requires individuals with relative adequate experience or information with the ability to recognize the availability of opportunity and thereafter device the means for exploiting the opportunity. In order to effectively exploit the identified opportunity in health care, an entrepreneur needs to understand the nature of the opportunity and develop orientation actions aimed at achieving the goals. Once the entrepreneur has outlined the opportunity, the next important thing is to evaluate costs and benefits of exploiting the opportunity. The nature of the opportunity is not just enough for an entrepreneur, but again certain key skills have been attributed to the success of most entrepreneurs irrespective of their fields. These characteristics include: propensity for risk taking, a tendency for positive self-efficacy and a high tolerance for ambiguity.

The emergence of entrepreneurship in health care industry has seen both positive and negative effects being realized. For example, the positive aspects of entrepreneurship include: first, through entrepreneurship in health care industry, jobs have been created thereby absorbing a large number of professionals who would otherwise have been jobless.

Second, entrepreneurship in the industry has led to provision of health services in regions or areas that, in some way, public or few managed private facilities available would not have managed.

Third, entrepreneurship is closely associated with innovation and as a result, more cost-effective technology has been developed and enhanced which in turn has led to greater number of members in society to get access to key and vital health products or services.

Fourth, entrepreneurship in health care industry has also promoted competition among the health products and service providers and the positive results of this competition have translated to the patients who are largely the consumers of these products and services.

Fifth, assessing the wider role of entrepreneurs in any society, it can be concluded that, entrepreneurship in health care is necessary as it positively contributes to research and development in the field. For instance, Margaret Miller has estimated that 75 per cent of all innovations are credited to entrepreneurs (Miller, 2008) and without innovations then the world would be a boring place to inhabit.

Sixth, the prosperity of a nation is largely dependent on entrepreneurship and because health care sector has been regarded as the biggest industry in the nation and to the world at large, it can be concluded that more entrepreneurship ventures in the sector will greatly contribute to the growth of the wealth of the nation as well as for the individual entrepreneurs.

Finally, entrepreneurship provides self sufficiency. In health care sector, self sufficiency has been realized in greater and better standards to the professions employed. In addition, it has provided numerous growth opportunities to professionals working in the organizations and this has contributed to enhancement of happiness and liberty among many professionals in the field (Miller, 2008).

There has not only been the positive side of entrepreneurship, but there have also been numerous negatives associated with entrepreneurship in health care industry. These negative aspects include:

in the health care industry, entrepreneurship still attract little attention and this can be attributed to the existence of various barriers in form of structure and also culture in the health care sector. In a way these barriers have become a hindrance to new and aspiring entrepreneurs while at the same time, ‘suffocating’ and operating in disfavor of the existing entrepreneurs in the industry;
entrepreneurship in health care sector is still faced by many problems that range from poor infrastructure, unstable economic climate, lack of government incentives and also poor managerial skills. These problems among entrepreneurs are escalated by inferior technology, sometimes due to poor capital, business and finance planning, lack of entrepreneurship development in the sector and generally presence of operational inefficiency in many entrepreneurship ventures;
when analyzed from an economic point of view, entrepreneurships activities become less viable when one reviews the tax policies in the country. Primarily, marginal tax rates are still high and their movements downwards are unlikely – when marginal tax rates are high the rate of entrepreneurship remain relatively law and those who operate in such situations realize less returns;
lastly, entrepreneurship spirit has led to instances where the quality of health care services has been compromised by professions out to rake in a lot of money. For example, comparing health care costs in three cities, McAllen, Texas and El Paso, Mandelbaum notes that, “McAllen has got more, surgery, more home care, more diagnostic testing, more hospital treatment, but more care does not equal better care” (Mandelbaum, 2009). The author traces this and calls it ‘overuse of medicine’ to which he associates to entrepreneurship spirit, which he describes as, “innovative and aggressive in finding ways to increase revenues from patient care” (Mandelbaum, 2009).

Philips Medical Systems Company is a diversified and well-being Company which has focused on making people’s lives better through modern innovations. The company has mainly invested in health care, lifestyle and lighting and it largely integrates technologies and designs into finding solutions to problems affecting people. The company has diverse range of independent experts, international professions for setting its agendas, policymakers and also opinion leaders who co-operate into finding solutions to health problems facing people and therefore work for improvement. Most innovations by the company focus on cost reduction especially in response to the fast-growing care expenses (Floren, 2008, p.293). The company has not just restricted itself to rich countries, it has progressively enhanced market of health care products and services in developing countries.

In conclusion, it can be suggested that changes in health care industry will continue to spur entrepreneurism spirit and therefore, it is necessary for the government and other key stakeholders to formulate policies that will be favorable to entrepreneurs. At the same time, health care sector has to improve on the various rules guiding entrepreneurship activities and to institute a vibrant culture that encourages entrepreneurship, which is guided by ethics.

Blair, J. D. (2007). Strategic Thinking & Entrepreneurial Action in the Health Care Industry . UK, Emerald Group Publishing. Web.

Floren, R. (2008). The Entrepreneur & the Entrepreneur Cycle . Netherlands, Uitgeverij Van Gorcum. Web.

Mandelbaum, R. (2009). When Entrepreneurship Hurts Health Care. The Entrepreneurial Agenda. Web.

Miller, M. (2008). Importance of entrepreneurship. Web.

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The Ethicist

Can i use a.i. to grade my students’ papers.

The magazine’s Ethicist columnist on artificial intelligence platforms, and whether it’s hypocritical for teachers to use these tools while forbidding students from doing the same.

By Kwame Anthony Appiah

I am a junior-high-school English teacher. In the past school year, there has been a significant increase in students’ cheating on writing assignments by using artificial intelligence. Our department feels that 13-year-old students will only become better writers if they practice and learn from the successes and challenges that come with that.

Recently our department tasked students with writing an argumentative essay, an assignment we supported by breaking down the process into multiple steps. The exercise took several days of class time and homework to complete. All of our students signed a contract agreeing not to use A.I. assistance, and parents promised to support the agreement by monitoring their children when they worked at home. Yet many students still used A.I.

Some of our staff members uploaded their grading rubric into an A.I.-assisted platform, and students uploaded their essays for assessment. The program admittedly has some strengths. Most notable, it gives students writing feedback and the opportunity to edit their work before final submission. The papers are graded within minutes, and the teachers are able to transfer the A.I. grade into their roll book.

I find this to be hypocritical. I spend many hours grading my students’ essays. It’s tedious work, but I feel that it’s my responsibility — if a student makes an effort to complete the task, they should have my undivided attention during the assessment process.

Here’s where I struggle: Should I embrace new technology and use A.I.-assisted grading to save time and my sanity even though I forbid my students from using it? Is it unethical for teachers to ask students not to use A.I. to assist their writing but then allow an A.I. platform to grade their work? — Name Withheld

From the Ethicist:

You have a sound rationale for discouraging your students from using A.I. to draft their essays. As with many other skills, writing well and thinking clearly will improve through practice. By contrast, you already know how to grade papers; you don’t need the practice.

What matters is whether an A.I.-assisted platform can reliably appraise and diagnose your students’ writing, providing the explanation and guidance these students need to improve. In theory, such tools — and I see that there are several on the market, including from major educational publishers — have certain advantages. The hope is that they can grade without inconsistency, without getting tired, without being affected by the expectations that surely affect those of us who hand-grade student work.

I notice you haven’t raised concerns about whether the platform provides reliable assessments; you’ll have to decide if it does. (If it isn’t quite up to snuff, it might become so in a year or two, so your question will persist.) Provided the platform does a decent job of assessment, though, I don’t see why you must do it all yourself. You should review the A.I.-annotated versions of your students’ writing, check that you agree with the output, and make notes of issues to bring up in class. But time saved in evaluating the papers might be better spent on other things — and by “better,” I mean better for the students. There are pedagogical functions, after all, that only you can perform.

In sum: It’s not hypocritical to use A.I. yourself in a way that serves your students well, even as you insist that they don’t use it in a way that serves them badly.

Readers Respond

The previous question was from a reader who asked about professional boundaries. He wrote: “I am a retired, married male psychiatrist. A divorced female former patient of mine contacted me recently, 45 years after her treatment ended. Would it be OK to correspond with her by email? Or is this a case of ‘once a patient, always a patient?’”

In his response, the Ethicist noted: “The relevant professional associations tend to have strictures that are specifically about sexual relationships with former patients. … In light of the potential for exploitation within the therapist-patient relationship, these rules are meant to maintain clear boundaries, protect patient welfare, uphold the integrity of the profession and eliminate any gray areas that could lead to ethical breaches. But though you do mention her marital status, and yours, you’re just asking about emailing her — about establishing friendly relations. The question for you is whether she might be harmed by this, whether whatever knowledge or trust gained from your professional relationship would shadow a personal one. Yes, almost half a century has elapsed since your professional relationship, but you still have to be confident that a correspondence with her clears this bar. If it does, you may email with a clear conscience.” ( Reread the full question and answer here. )

As always, I agree with the Ethicist. I would add that the letter writer’s former patient doesn’t realize that the therapist is actually two different people — the professional and the regular person underneath. Therapists portray their professional selves to their clients. The former client may be disappointed upon meeting the therapist outside of the professional context. Additionally, the feelings she has toward the therapist may be based on transference, and they would need to address that. — Annemarie

I am a clinical psychologist. While the Ethicist’s description of professional ethical boundaries is correct, there is more to the story, and I disagree with his conclusion. A very big question here is why this former patient contacted him after 45 years. That is a question that is best explored and answered within the context of a therapeutic relationship. He would be well- advised to respond in a kind and thoughtful way to convey the clear message that he is not available for ongoing communication, and he should suggest that she consult with another therapist if she feels that would be helpful. — Margaret

In my case, it was the therapist who reached out to me, seeking to establish a friendship several years after our sessions ended. I was surprised, but he shared that he had since experienced a similar personal tragedy to one I had explored with him in sessions. Since it had been several years since we saw each other professionally, I responded. There was never any hint of romantic or sexual interest. Still, as he continued to reach out to me, clearly desiring a friendship, it never felt right to me. It did feel unprofessional, as his knowledge of me was borne out of a relationship meant to be professional, never personal, as warmly as we might have felt during our sessions. I ended up being disappointed in him for seeking out my friendship. — Liam

I am a (semi)retired psychiatrist who has been practicing since 1974. In my opinion, “once a patient, always a patient” is correct. Establishing any type of personal relationship with a former patient could undo progress the patient may have made in treatment, and is a slippery slope toward blatantly unethical behavior. As psychiatrists, our responsibility is to work with patients in confronting and resolving issues that are preventing them from having a reality-based perception of their life. With such an outlook, they are more capable of establishing satisfying relationships with others. An ethical psychiatrist is not in the business of providing such satisfaction to his or her patients. — Roger

I think there is a difference between being friendly and being friends with a former client. As someone who used to attend therapy with a therapist I think dearly of, she made it clear to me that it was OK to send her emails with life updates after our therapeutic relationship ended. But beyond that, I think it would be inappropriate and uncomfortable to pursue a friendship with her, and vice versa, because of the patient-provider relationship that we previously had and the power dynamic that existed between us. The letter writer didn’t share the content of the email his former patient sent to him, but if it’s just a friendly life update, I think it’s fine to write back and thank her for sharing. Beyond that, I feel like it would be unprofessional to meet or pursue a deeper relationship. — Meghan

Kwame Anthony Appiah is The New York Times Magazine’s Ethicist columnist and teaches philosophy at N.Y.U. His books include “Cosmopolitanism,” “The Honor Code” and “The Lies That Bind: Rethinking Identity.” To submit a query: Send an email to [email protected]. More about Kwame Anthony Appiah

Ann Leary’s people-pleasing days are over

The author’s new book of essays, ‘i’ve tried being nice,’ renegotiates her terms as ‘a lifelong people pleaser.’.

Author Ann Leary and the cover of "I've Tried Being Nice"

Author Ann Leary is known for the works of fiction that followed her 2005 memoir ”An Innocent, a Broad.” But, for her latest title, “I’ve Tried Being Nice,” she’s turned inward again, chronicling decades of her life as a self-identified people pleaser.

The book of essays, which comes out Tuesday, offers humorous anecdotes about bat infestations, knitting, red carpet events, and tennis. As with her first memoir, the novel provides an intimate glimpse into her life and her marriage to actor and Worcester native Denis Leary, who’s featured heavily throughout the book.

In like fashion, he joined Ann in this interview with the Globe, which took place ahead of the pair’s appearance at Cambridge Public Library on Wednesday. At the event, presented by Harvard Bookstore, the Learys, who reside in New York, will discuss Ann’s collection of essays, with Globe writer Beth Teitell .

What inspired you to pursue the essays for “I’ve Tried Being Nice” — it’s a departure from your more recent fiction work.

I actually prefer writing novels, but I have written essays for various publications. So after my last book (”The Foundling”), I looked at a few essays that I written and I thought to do a collection.

The title essay, “I’ve Tried Being Nice,” I thought, might be the perfect essay to start with because most of the essays touch on this theme of reaching a certain age and coming to terms with being a lifelong people pleaser and trying to change that a little bit. A few of [the included essays] have been previously published, but most are original to this book.

The essays walk a fine line between divulging personal details while keeping the reader at arm’s length. How do you find that balance?

Since I usually write fiction, I’ve never had the legal department of a publisher contact me, but Simon & Schuster sent me multiple emails and I had to change a lot of defining details. As a writer, I’ve met people who are convinced that characters I’ve written were based on them. Then people I’ve worried would recognize themselves have no idea, because people don’t see themselves usually the way they are.

A few chapters are about your relationship with your husband. Denis, how do you feel about how you were portrayed?

( Leary ) Ann is a great writer, so in this case, the first time she gave it to me to read, [I spent most of the time] laughing. Even with things that may have been emotionally part of our past, she has the right to create pieces that involve her personal history. I’m glad she shows it to me in advance, but she’s such a great writer. And, in this case, the book was so [expletive] funny.

What life lessons, if any, do you hope readers take away from this anthology?

Publishers want you to write life lessons, but I don’t feel qualified to give lessons in life. I love to read memoir and personal essays and I don’t like to feel that the [writer] is trying to influence me or teach me something. But I will certainly learn something by reading about their experiences.

I do give one bit of advice, and early readers have commented to me that it really helped them. Denis and I hate to check luggage. We can go to Europe for three weeks with carry-ons and we’d do it with children; we’re just too impatient. I include a bulletpoint list of tips on how to not pack too much, and you can carry-on luggage wherever you go.

Interview has been edited and condensed.

Ann and Denis Leary will be in conversation with the Globe’s Beth Teitell at the Cambridge Public Library on June 5 from 6-7:30 p.m. Registration for this event is required at eventbrite.com .

Adri Pray can be reached at [email protected] . Follow her @adriprayy .

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entrepreneurs. This essay demonstrates that multiple indicator measures of performing entrepreneurship (in the case of technology entrepreneurship) can be chosen plausibly by using the confirmatory factor analysis under the framework of latent-variables modeling. Essay Three focuses on empirical investigation of regional factors that promote
Entrepreneurship Free Essay Examples And Topic Ideas
33 essay samples found. Entrepreneurship involves the process of designing, launching, and running a new business, which is often initially a small business, offering a product, process, or service for sale or hire. Essays might cover the characteristics of successful entrepreneurs, the challenges and rewards of entrepreneurship, the impact of ...
Conclusion (Chapter 10)
Entrepreneurs create start-ups and establish firms to accumulate assets in the context of their life-cycle consumption and saving decisions. Individuals choose to become entrepreneurs in comparison to alternative occupations and investment opportunities. Creative individuals choose innovative entrepreneurship when own-use of inventions ...
Full article: Small business and entrepreneurship: their role in
Conclusion. Small businesses transform and develop communities. Entrepreneurs create ways to connect resources and growth across cultures, policy contexts, economic conditions and political situations that differ from a region to another (Carrasco-Monteagudo and Buendía-Martínez Citation 2013).They must create strategies that will ultimately resolve major economic and social challenges and ...
Tesla: a Visionary Entrepreneur who Revolutionized Industries
This essay about Nikola Tesla highlights his transformative contributions to science, engineering, and entrepreneurship. From his early years marked by curiosity and brilliance to his groundbreaking work on alternating current (AC) electrical systems and wireless communication, Tesla's legacy continues to inspire innovation.
5 Strategies To Unlock Your Winning College Essay
The best essays have clear, coherent language and are free of errors. The story is clearly and specifically told. After drafting, take the time to revise and polish your writing. Seek feedback ...
Innovative Minds, High-Impact Solutions: How UC San Diego Accelerates
UC San Diego's Design and Innovation Building features four spaces for incubating and accelerating innovative ideas: The Basement, Maker Space, Design Lab, and Entrepreneurship Center. Located on the ground floor of Franklin Antonio Hall, a new engineering building designed to facilitate interdisciplinary collaborations, the IGE MedTech ...
REVIEW
A pity that because the essay form is such a supple and fine form and stretches from academic essays to personal ones, to lyric essays to braided essays, and more. Read this for free South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new ...
Conclusion: Entrepreneurship Education for an Undergraduate ...
Theorising Undergraduate Entrepreneurship Education incorporates philosophical and pedagogical aspects of entrepreneurship education (EE) research, evoking some of the potential outcomes that can be expected from teaching techniques, curricular and extracurricular programmes. From a philosophical viewpoint, while authors in this title introduce a mixture of theoretical perspectives to ...
Why Did ChatGPT-Maker OpenAI Fire CEO Sam Altman? New ...
A new interview with a former board member of ChatGPT-maker OpenAI explains why the board unsuccessfully tried to oust billionaire CEO Sam Altman six months ago.
Entrepreneurship From Different Perspectives Reflective Essay
lastly, entrepreneurship spirit has led to instances where the quality of health care services has been compromised by professions out to rake in a lot of money. For example, comparing health care costs in three cities, McAllen, Texas and El Paso, Mandelbaum notes that, "McAllen has got more, surgery, more home care, more diagnostic testing ...
Can I Use A.I. to Grade My Students' Papers?
The papers are graded within minutes, and the teachers are able to transfer the A.I. grade into their roll book. I find this to be hypocritical. I spend many hours grading my students' essays.
Ann Leary's people-pleasing days are over
The title essay, "I've Tried Being Nice," I thought, might be the perfect essay to start with because most of the essays touch on this theme of reaching a certain age and coming to terms ...

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Essay Samples on Entrepreneurship

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Essay on Entrepreneurship: Top 9 Essays | Business Management

Essay on Entrepreneurship

Essay # 1. Introduction to Entrepreneurship:

Essay # 2. Definition of Entrepreneurship:

Essay # 3. Growth and Success of Entrepreneurship :

Success of Entrepreneurship :

Essay # 4. Entrepreneurial v/s Managerial Styles :

Essay # 5. Entrepreneurial Development :

Objectives :

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Essay # 6. Beliefs Regarding Entrepreneurship:

Essay # 7. Financing of Enterprise :

Sources of Finance :

Institutional Finance :

Essay # 8. Factors Essential for Successful Entrepreneurship:

Essay # 9. Benefits of Entrepreneurship :

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Innovative Minds, High-Impact Solutions: How UC San Diego Accelerates MedTech

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Conclusion: Entrepreneurship Education for an Undergraduate Audience—A Review and Future Directions

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Former OpenAI Board Member Reveals Why She Had CEO Sam Altman Fired New details have emerged about the board decision that shook the tech world.

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