Characteristics And Traits Of Good Entrepreneurs

Characteristics And Traits Of Good Entrepreneurs This report discusses about the well known entrepreneurs and their traits and characteristics. Entrepreneur can be defined as â€Å"one who shifts economic resources out of an area of lower and into an area of higher productivity and greater yield† (Lambing P, et., al., 1997). Entrepreneurs are people who own, operate and take the risk of a business venture. Entrepreneurs identify the needs of the marketplace and they will supply service or product to meet those needs. They assume risk in their business. Entrepreneurship is the process of running a business of one’s own (Bolton B, et., al., 2004). True entrepreneurs try to innovate and they cannot stop being as an entrepreneur. Persistent, creative, responsible, inquisitive, goal oriented, independent, self confident, risk taking are few characteristics of entrepreneurs. History of Richard Branson: Richard Branson is a famous British entrepreneur and CEO of Virgin groups who was born in 1950. He was educated at Stowe s chool where he set up student magazine at the age of 16. In 1970 he founded virgin as a mail order retailer, soon he opened a record store and this was his major success in entrepreneurial life. In 1977 he signed many contracts to help virgin Music to become the top six record companies in the world. With now more than 150 companies in 30 countries around the world virgin expanded into travel, tourism, mobile and so. In Feb 2007 virgin group announced their virgin earth challenge project which will remove atmospheric greenhouse gases (Cord J, 2008). Characteristics and traits of Richard Branson: Richard Branson is good leader where his leadership principle is based on the needs of treating other people with great respect. He is spending one-third of his time in trouble shooting and one-third on promoting new products and the rest on promoting and marketing his business (Cord J, 2008). He hires the bright people to motivate them and makes them delegates in his venture, where his dele gates are the responsible persons on the daily operations of the company. Branson is having the ability of when to back away from his new task. He says everyone must know the art of delegation to run a business and he should have a strong responsibility. Richard has the quality of helping people to run individual businesses so that the company can run without him (http://www.virgin.com/). Richard Branson motivates his employees and satisfies them by treating them as important team players and it is the crucial success for virgin Empires. He has effective man-management power and clearly strong. He is very enthusiastic and he has people who see it as their job to rein in. He is taking good decisions at crucial stages where he will broke his business in two sectors if it grows to a certain size. He feels that small firms run well and this is one of the major reasons as he manages to be a little guy in various tussles. Branson is very ambitious guy having many lists to do and he is man aged to get the biggest ideas of it. He is risk taker and had enormous energy in achieving it. He is living his life to fullest with passion. He believes in making difference where he delivers the service through employees to improve the customers experience by innovation. He has the flexibility of changing to the business environment (http://www.virgin.com/).

Loop Diagrams Article Example | Topics and Well Written Essays - 750 words

Loop Diagrams - Article Example This is to mean, if there is a decrease in the node where the link starts, the other node decreases as well. Similarly if there is an increase in the node where the link starts, the other node increases as well. A negative causal link shows the two nodes changing towards opposite directions (Richardson 1986). This is to mean, the increase of the node in which the link starts decreases the other node and the decrease of the node in which the link starts increases the other node. This diagram has two feedback loops. R represents the positive reinforcement loop. It indicates that the word of mouth is one of the factors that have been used to reinforce the price of the Nokia mobile phone. The more praises the Nokia mobile phone receives from its customers; the higher the demand of the product regardless of its price. The more people refer to the mobile phone and demonstrate its effectiveness, the positive feedback tend to generate growing sales of the mobile phone (Sterman 2000). The next feedback loop B, which is on the left is negative reinforcement. It can also be referred to as balancing. It is obvious that the Nokia mobile phone will not be praised forever. Once customers get used to the Nokia mobile phone, they will look for newer different products. At this point, the growth of the product is likely to decline. The manufacturers of this particular mobile phone brand will have to lower its price so as to continue selling the phone (Sterman 2000). Feedbac k loops act concurrently, but at some point they portray different strengths. Thus, the price of mobile phone is likely to remain high in the initial years and decline in the later years when people get used to it. The causal loop diagram above is a good example of a reinforcement loop; it is referred to as reinforcement loop because the feedback increases the effect of change (Sterman 2000). As more investment is imposed on the Nokia mobile phone, the manufacturer can regulate

Symbolic Debate in AI versus Connectionist - Competing or Complementar Essay

Symbolic Debate in AI versus Connectionist - Competing or Complementary - Essay Example If the aim of human-oriented Artificial Intelligence is to develop common sense, an extreme example of the purely symbolic approach is to be seen in the Cyc project. Here, common-sense rules inferred from the everyday world are hard-coded into the system such that it will be able to handle any type of situation. And it is in this â€Å"extremely symbolic† approach that the worst failures of that approach will probably be seen: forget one fact, and the system crashes, with nothing to lean back on.On the other hand, best-suited to the connectionist approach are models of the brain at the micro-level. The brain is, after all, a neural network—literally. The problem here is that we get a working model, but with a very little description of what is actually going on inside, and the question begs to be asked (by connectionists, of course): why model it if it cannot be explained?The natural thought is that there must be some way the two systems can â€Å"co-operate.† Co nsider an interesting problem, one that may seem far-fetched but which is good enough to serve as an example: that of nonsense translation, as in â€Å"English French German Suite,† quoted in Gà ¶del, Escher, Bach: An Eternal Golden Braid (Douglas Hofstadter, 1979, page 366). Here, a translation into German by Robert Scott of Lewis Carroll’s Jabberwocky is presented. The English stanza’Twas brillig, and the slithy toves†¦All mimsy were the borogoves,And the mome raths outgrabe.†Gets translated into the German asâ€Å"Es Brillig war. Die schlichten Toven†¦Und aller-mà ¼msige BurggovenDie Mà ¶hmen Rà ¤th’ ausgraben.†Consider â€Å"outgrabe†: how would one â€Å"translate† it into German? It turns out that â€Å"out† is â€Å"aus† in German, and â€Å"grab† sounds perfectly German; add to that the common German â€Å"-en† suffix and one gets â€Å"ausgraben.† Similar principles apply to the translation of all the nonsense words here.