The Role of Entrepreneurship in Economic Development in...

The Role of Entrepreneurship in Economic Development The entrepreneurs with their ability to scan, analyze and identify opportunities in the environment transform them into business proposition through creation of economic entities. Entrepreneurship and economic development are intimately related. So, that entrepreneurial process is a major factor in economic development and the entrepreneur is the key to economic growth. Whatever be the form of economic and political set-up of the country, entrepreneurship is indispensable for economic development. Entrepreneurship is an approach to management that can be applied in start-up situations as well as within more established businesses. According to Joseph Schumpeter, the rate of economic†¦show more content†¦In Bangladesh, Micro-credit programs incorporate skills-based training which fosters human capital formation among participants. Also, the group-based nature of the lending format facilitates interaction between members which allows them to benefit from one another’s experience and knowledge. Both of these facets of the micro-credit model exist to promote the productive capacity of the poor, which is essential to their own economic advancement. 7. Creates Large-Scale Employment Opportunities: Entrepreneurs provide immediate large-scale employment to the unemployed which is a chronic problem of underdeveloped nations. With the setting up of more and more units by entrepreneurs, both on small and large-scale numerous job opportunities are created for others. As time passes, these enterprises grow, providing direct and indirect employment opportunities to many more. In this way, entrepreneurs play an effective role in reducing the problem of unemployment in the country which in turn clears the path towards economic development of the nation. Today, SME remains the engine of economic growth and considering the population of Bangladesh, SME offers large-scale employment and income earning opportunities at relatively low costs, especially in the rural areas. It strengthens efforts to achieve high and sustainable growth, which is a prerequisite for an exit fromShow MoreRelatedWomen Entrepreneurs in Bangladesh: a Case Study on Boutique Business10735 Words   |  43 Pagesabout female entrepreneurs, and our ignorance of this important demographic is a serious blind spot in any effort to increase the total number of entrepreneurs participating in our economy. Women’s entrepreneurship has been recognized during the last decade as an important untapped source of economic growth. A woman entrepreneur is defined as a woman who has alone or with one or more partners, started, bought, or inherited a business, is assuming the related financial, administrative, and socialRead MoreMultinational Company1144 Words   |  5 Pagesforeign private investment. | | List Of Multinational Companies In Bangladesh: | | | | | | | | | | 1.Runner Group of Companies Category: Business and Economy   Companies | | | 2. Multinational Zipper Manufacturing Company NEO Zipper Category: Business and Economy |  Multinational Companies | | | | 3.Maximus Mobile Phone Bangladesh Category: Business and Economy|  Mobile Phones | | 4.Nokia Bangladesh Category: Business and Economy  |  Mobile Phones | | 5.MAKS RenewableRead MoreChallenges of Women Entrepreneurs in Bangladesh6227 Words   |  25 PagesChallenges of Women Entrepreneurs in Bangladesh Despite all their family and social problems, women have struggled hard to achieve their own identity. Women from all classes of Bangladesh want to stand up before everyone in their own right and not as someones daughter or wife. Women can be a very caring homemaker, but at the same time she can prove to be a highly skilled Entrepreneur, an efficient employee, an administrator if they choose to be. Realizing that the advancement of women can not beRead MoreThe Fight Against Poverty Around The World1394 Words   |  6 PagesOne of the most important steps in the fight against poverty around the world is the creation of jobs. The most competitive and successful in this direction is the social entrepreneurship. The task of the social enterprises is to contribute to the solving of the social problems and promoting of the people s livelihood. Social enterprises provide jobs for hundreds of thousands of people in the various fields: food production, marketing, credit, insurance, and trans portation. The social enterprisesRead MoreHow Digital Bangladesh Must Be Jointly With A Coherent Manner For Developing Banking Sector Essay1007 Words   |  5 Pagesï  ¶ Digital Bangladesh must be activated by 2021 to develop the intensive technology based banking system to move forward modern banking sector in Bangladesh. ï  ¶ Successful team building with a coherent manner for developing human ware, hardware, software and web ware are required to increase e-banking in a systematic way. ï  ¶ Greater emphasis should be put on security system and on preventing fraud so that any sort of financial transactions including on-line banking payment or any other electronicRead MoreProblems and Prospects of Women Entrepreneurship in Beauty Parlour: a Study in Sylhet.2684 Words   |  11 PagesSeminar Report on: Problems and Prospects of Women Entrepreneurship in Beauty Parlour: A Study in Sylhet. Shahjalal University of Science Technology Department of Business Administration Executive Summary Recognition of the need of women entrepreneurship has grown considerably in Bangladesh over the recent years. Because of the recognition, more supportive environment has been created for the women and more andRead MoreRise of Bangladesh’s Textile Trade Essay examples1463 Words   |  6 Pages.............................................................................7 Appendix A (Grading Rubric) .............................................................................................8 Introduction The Textile Industry in Bangladesh is growing fast despite the fact of the global economicslowdown. In current situation, businesses like Wall Mart and their customers look very cautiously towards the product necessity, value and price. Firms are more focused to lower the operationalRead MoreEssay about Development in The Peoples Republic of Bangladesh1234 Words   |  5 PagesBangladesh, or officially the People’s Republic of Bangladesh, is located in South Asia. It borders India to the west, north, and east, and Burma to the southeast. It also borders the Bay of Bengal and the Indian Ocean to the south. It is a small country, with an area of approximately 147,570 sq. km. (94th compared to all countries). However, it has the 8th greatest population in the world, with over 160 million people. It is among the worlds most densely populated countries. The capital of BangladeshRead MoreTechnology And The Implementation Of Innovative Technology1259 Words   |  6 Pagescustomers who do not have internet access or who are not technologically sound (Khalil, Ahmed Khan). ï  ¶ The coverage of the private commercial banks and foreign commercial banks is concentrated mainly in urban and semi-urban areas. The rural parts of Bangladesh still remain outside of their services. In addition, modern banking involves some financial risks as well though it has bright prospects. According to Ali (2010), the major risk of modern banking includes operational risks (e.g. security risksRead MoreEssay On Remittance1488 Words   |  6 PagesRemittances Impact on Financial Development: Moldova Abstract Remittances, funds received from migrants working abroad have becoming a significant source of export income on developing countries. This paper examines with annual data on remittance flows to financial development during 1996-2016, whether remittances contribute to increasing aggregate level of domestic credit to private sector and broad money (M2). Using time series data over 21 years, we expect to find that the growth of remittances

Youth Unemployment And Its Impact On The Australian Youth...

Introduction Youth unemployment has been a constant problem in Australia for decades. In Treasurer Scott Morrison and the Coalition’s 2016-17 budget, a new plan focusing on helping young people join the workforce aims to drastically lower the youth unemployment rate over the next few years: the ‘Youth Jobs PaTH Program’. The $752 million dollar program aims to help up to 120,000 vulnerable young people over the next four years (Budget 2016-17, Queensland Government). However, there is a concern how effective the scheme will be, due to its emphasis on purely internships. Many argue that the Coalition’s youth unemployment scheme ‘Working Futures’ is a better option to lower youth unemployment, for its alternative structure and focus. To decide which one is best for Australia, both the Coalition and Labor Party’s scheme will be judged by analysing their social impacts upon the Australian youth. Background Issue In Australia, youth unemployment has averaged 13.49% between 1978 and 2016 (ABC News, 2016), with it currently resting at 13.24% (Trading Economics, 2016). â€Å"This rate is almost double of adult unemployment† (Brotherhood of St Laurence, 2016). It is clear to see in figure 1 below. â€Å"In early 2016, the ABS Labor force found that 258,000 youth aged 15-24 was unemployed† (ABS, 2016), accounting for over a third of total unemployment (721,400 people)† (ABS, 2016). There are several reasons youth unemployment exists in Australia, with the primary cause being low economicShow MoreRelatedPotential Solutions For High Youth Unemployment1005 Words   |  5 PagesQuestion How can the high levels of What are potential solutions for high youth unemployment in Australia be solved, and what are its implications on inequality for young Australians? I. Introduction High levels of unemployment have many negative effects, including rising inequality, which is a major issue in developed economies such as Australia (REF). Income, and wealth inequality are the two main types of inequality examined in economics. Income Distribution Income distribution refers to howRead MoreUnemployment Of The Australian Economy1077 Words   |  5 PagesIn the Australian economy, trending unemployment rates are a prevailing socio-economic issue. With the labour market central to unemployment and the distribution of jobs, many factors arise as the key influences on unemployment. With an incredible number of industries facing high demand by consumers, it is speculated that employment would feature an increase to compensate. However, many factors of the labour market contradict this and instead increase unemployment. Factors such as the level of economicRead MoreIncreasing Minimum Wage For Women And Young Employees901 Words   |  4 Pageshelp single mothers to support the family, and reduce youth unemployment. The first result from the solution of increasing minimum wage is improving all salaries from different occupations. Over the last 25 years there have been several changes in employment pattern between men and women, conceding that there are an average of one third of female workers are occupying professional jobs which require a more advanced skills by 2004 (Australian Bureau of Statistics, 2006). It can be seen that femaleRead MoreLabor Government Budget Building Australia Future Workforce For Positive Impact On Workforce Re Entry For Long Term Essay1553 Words   |  7 Pages2011-2012 budget ‘Building Australia Future Workforce’ for positive impact on workforce re-entry for long-term unemployed and financial incentives for employers through wage connect. †¢ Long term unemployment (exceeding one year) and very long term unemployed (exceeding two years) amongst working aged youth is becoming a disturbing trend within Australia’s workforce. †¢ Dr Lucas Walsh Director of the Foundation for Young Australians notes when manual and educational employment preparation for Australia’sRead MoreHow Alcohol Consumption Is Culture1237 Words   |  5 PagesProblems such as difficulties with unemployment, past experiences and such contribute to ones behaviour. In past research, the earlier the initiation, the more chance of drinking Pettigrew Donovan (2003 ,p.30). It has also been mentioned that binge drinking in the youth community has been linked with alcohol abuse. What role does the media play?. Young form of interaction is associated with media. Individuals are engaged in movies, tv, and music. Australian Bureau of statistics found 93% of 15-17Read MoreAustralia s Current Economic Growth1390 Words   |  6 Pagesand services purchased by households in the nation. Another economic issue is that of unemployment, which consists of situation where individuals desire to work, but are unable to find a job, and as such, labour resources within the economy are underutilised. A person is classified as unemployed if they are aged 15 years or older, and are actively seeking work however unable to obtain it. The rate of unemployment is currently at 5.7% (May 2016). The use of macroeconomic policy has assisted AustraliaRead MorePrecarious Employment2344 Words   |  10 PagesSociology Essay Young people and the difficulties faced in negotiating a precarious and exploitative labour market The operational definition of youth varies widely from country to country but the UN defines youth as the age group between 15 and 24 years old. Essay Question Young people are confronted with the difficulties of negotiating a labour market that is precarious and exploitative. There are major difficulties of entry, especially into full-time work in the formal and informalRead MoreExploring Factors Affecting the Quality of Life for Australia’s Rural Population1486 Words   |  6 Pagesservices, and social structure. Therefore the welfare issues experienced and the impact these have to lifestyle within Australia’s different populations would also differ in relation to these factors. This is certainly true for Rural Australia. The biggest factor impacting Rural Australia has been the changes to the economic viability of primary production, one of the largest sources of income for Australia (Australian Government, 2008), affected by globalization, deregulation, privatisation andRead MoreAustralia Case Study1672 Words   |  7 PagesShould the South Australian government enforce a cap on some university positions? Evidence of decline in graduate based jobs in Adelaide Recent statistical data has shown that university graduate jobs are in decline. In fact, studies have shown that less and less individuals are finding full-time employment occupation once completing university. This is evident in a study conducted by National Institute of Labor Studies at Flinders University (2016) which determined that between 2008 and 2014Read MoreEssay on The Impact of the Global Financial Crisis on Economic Growth4072 Words   |  17 PagesEconomic growth The impact of the Global Financial Crisis on economic growth As a result of the global recession, Australia’s GDP was forecasted to contract by 0.5% in 2009-10 in comparison to other advanced economies which were expected to contract by 3.75% in the same year. However minor the reductions in GDP, it was evident that Australia was not exempt from the global recession although is better placed and is expected to perform better than almost all other OECD economies. The global recession

Albert Einstein 3 Essay Example For Students

Albert Einstein 3 Essay This German born physicist is considered one ofthe worlds greatest thinkers in history. Not onlydid he shape the way people think of time, space,matter, energy, and gravity but he also was asupporter of Zionism and peaceful living. Einsteinwas born on March 14, 1879 in Ulm Germany,and spent most of his youth living in Munich,where his family owned a small electric machineryshop. He attended schooling in Munich, which hefound unimaginative and dull. In addition to this hetaught himself Euclidean geometry at the age of12. Later his family was forced to move to Milan,Italy where he then decided to withdraw fromschool at the age of 15. Eventually he realized thathe had to finish secondary school, which he tookin Arrau, Switzerland. On the other hand he stilloften skipped class to study physics on his ownmuch like myself. At age 22 he became a Swisscitizen and in 1903 married a women namedMileva Marec, whom which he had two sons withbut nonetheless latter divorced as to marry hiscousin in 1919. Which is unlike me. On the otherhand he did publish five major research papers atthe age of 26. The first one getting him hisdoctorate in 1905. The first paper was onBrownian motion, which is a zigzag motion ofmicroscopic particles in suspension. He suggestedthat the movement was the result of the randommotion of molecules of the suspension medium asthey rebound off suspended particles. The secondpaper laid the base of the photon, or quantumtheory of light. It said that light is made offseparate packets of energy, titled quanta orphotons. The paper remade the theory of light. Also explaining the emissions of electrons fromsome solid objects when they are struck by light. Televisions are practical applications of Einsteinsdiscoveries. The third paper, which he began as anessay at age 16, contained the special theory ofrelativity. He showed that time and motion arerelative to the observer, if the speed of light isconstant and natural laws are the sameeverywhere in the universe. The fourth was amathematical addition to the special theory ofrelativity. This is where he presents his famousE=mc?, also known as the energy massequivalence. Comptons Interactive Encyclopediatranslates it as (E) inherent in mass (m) equals themass multiplied by the velocity of light squared(c?). His fifth paper was his general theory ofrelativity. In which he proposed that gravity is nota force, a previously accepted theory but its acurved field in the space-time continuum created inthe presence of mass. In 1921 Einstein won theNobel Prize for physics for the confirmation of hisgeneral theory of relativity although the otherpapers where still considered controversial. In1933 he moved to the U.S.A where he became acitizen in 1940. Einstein died in Princeton, NJ, onApril 18, 1955. But the knowledge he passed stillcaries through tomorrow. Category: Biographies

Pluralist vs. Assimilationist Cultural Policy in the United States free essay sample

This paper is about a pluralist cultural policys positive impact on democratic values. This paper looks at the popular and enduring adage declaring that America is ?a melting pot? of cultures and at the idea that this country seems to believe that all of its ethnically, linguistically, and culturally diverse inhabitants have, throwing away all of their particularities, melted into just one cultural identity. It looks at the history of different immigrants to the United States, and examines their integration, or non-integration into society. From the paper: Like national minorities (Native Americans), African Americans (not modern African immigrants to the U.S.) have been incorporated involuntarily into American society due to the fact that they are the descendants of those who entered the slave trade after either being captured from West African regions or sold into captivity by African kingdoms-in short, they did not emigrate out of free will from their birthplaces as did members of ethnic groups. We will write a custom essay sample on Pluralist vs. Assimilationist Cultural Policy in the United States or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page However, they are somewhat like ethnic groups in the sense that they do originate from foreign lands and are not indigenous to U.S. territory as are national minorities.