Business Article assignment Example | Topics and Well Written Essays - 750 words

Business Article - Assignment Example A research conducted by professionals from the University of Cambridge in 2008 aimed to determine â€Å"the risky decision-making abilities of entrepreneurs and corporate managers with similar IQs and experience levels using a battery of neurocognitive tests† (Mehta, par. 4). The results of the study indicate that the greater preponderance for risk taking activities of entrepreneurs were both traced from behavioral and physiological factors that affect their decision making processes. As averred â€Å"the entrepreneurs not only scored higher on personality tests that measure impulsivity and flexibility; they also experienced a chemical response in the reward center of the brain that the managers did not† (Mehta, par. 4). Concurrently, Mehta stipulated guidelines for potential entrepreneurs in terms of socializing with other entrepreneurs, conditioning oneself for small successes, having faith and determination, and seeking a partner who would complement lacking skills, abilities, and knowledge that is not present in one’s personal arena. Relation of Topic to Discussion The topic is significantly related to the class discussion on small businesses and entrepreneurship. More and more global organizations have struggled to grow from roots that were identified as small business ventures or from sheer innovative vision and strategies implemented by entrepreneurs. The article is relevant in terms of accepting the risk taking characteristics of entrepreneurs to identify unique opportunities in the external environment, which could initially be posed as a threat, but would eventually be converted into a privilege to create jobs and provide financial success to the entrepreneur and to the stakeholders who would benefit from the venture. As shown in the power point presentation as Chapter 7: Small Business and Entrepreneurship, entrepreneurs are a distinct breed of professionals who are predominantly risk takers and are willing to invest time, money and effort for potential ventures that could be successful or could ultimately fail. The thought provoking insight on famous entrepreneurs could inspire aspiring ones into trying their luck in diverse business opportunities. The experiences of Ray Kroc, McDonald’s founder and Steve Jobs, founder of Apple computers, have attested that entrepreneurs’ drive and determination do not die with past failures. Further, the entrepreneurial spirit that highlight extraordinary skills, talents and abilities of these individuals stir innovation through technological breakthroughs, use of cross functional teams, employ strategies that enhance strengths and competitive advantage in their chosen fields of endeavor. Personal Comments One’s personal contention on the topic of small businesses and entrepreneurship is the focus on distinct characteristics of entrepreneurs as drivers of businesses and new ventures. Entrepreneurs have keen business acumen and are unique in terms of t he extremely high desire to achieve. People like Donald Trump, Bill Gates, aside from those mentioned in class, have been instrumental in revolutionizing their business niche through innate desire to uplift the welfare of mankind. From what one has learned through research and through observing entrepreneurial talent, the innate desire and drive to discover something new that could be of benefit to a greater number of people have been most instrumental to their success. As learned from the class module, small businesses

General Motors Corporation Essay Example | Topics and Well Written Essays - 3500 words

General Motors Corporation - Essay Example GM’s six main automaking divisions have catered to its manifesto of â€Å"a car for every purse and purpose† (Monks & Minow, 2008: 414). Statement of Purpose: This Case Study on the General Motors Corporation is for the purpose of investigating the company’s downward spiral into possible bankruptcy. Using appropriate theories and literature, investigation of the What? Why? and How? of the organization will help to determine the reasons for the auto giant’s decline 0ajjind the implications for the future of the company. The reasons for and the processes by which the United States’ auto giant General Motors Company deteriorated to a position of near-bankruptcy, can be determined by investigating various factors based on relevant theories of corporate collapse (Fig.1). These would include corporate governance, organisational culture, leadership styles, operational risk management and financial risk management pertaining to the functioning of General Motors. The underlying concepts pertaining to risk management, financial markets and products, and global perspectives on risk are important aspects. A widely encompassing approach that associates the causes of bankruptcy to the characteristics of the company and to the financial symptoms of distress, is essential, in examining the company’s financial decline (Thornhill & Amit, 2003). Besides the financial situation of the company, other crucial factors include the time dimension of failure, and the influence of key non-financial factors such as managerial error which is found to be one of the main reasons (Balcaen & Ooghe, 2006). Over the decades, from the time of GM’s inception in 1909, the company has suffered numerous set-backs which destroyed its ability to control the cost of its workforce. Roger Smith as CEO started downsizing the manufacturing units from 1985, with a commitment to revolutionizing the organization.