Posts Tagged ‘Definition’

Niche Definition-Perfect Internet Business : Niche Marketing

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Niche definition-perfect internet business : niche marketing. This articles introduce to a very profitable internet business model-niche marketing.

Niche marketing ( like as an affiliate marketing) is based on a simple concept: incentive- based marketing ,where the "incentive is derived from profit sharing
One thing Internet merchants always want more of is traffic and visibility. However they wouldn't be able to generate nearly as much traffic if they did all the marketing themselves, so create affiliate programs . They create a "virtual sales team" that can go out to an affiliate of a given online merchant. When you sign up to an affiliate , you don't literally work for the company in an employer sense of the word.

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The Ambiguity of Small Business Definition

When different people are using the phrase ‘small business’, do they refer to a common set of definitions? Like, how many employees are listed in the payroll? Or, the number of years it’s operative? A literature review of 23 papers, which have been published from 1958 to 2002, tries to shed light on this issue. The review revealed an inconsistency regarding both characterization and definition of small business. The variety of definition used in these papers unable to set an agreeable format for small business definition. Mayer and Goldstein (1961) define small business as an employer of less then 200 employees. Potts (1977) set the barrier on 20 employees in addition to a minimum eight years that the business is operative. Robinson (1982) define firm as small if the number of employees is less then 50, the annual sales is under three million dollars and it’s operate as sole ownership. Covin and Slevin (1989) define small business according to number of employees - more then five or less then 500, as well as a minimum of five years that the business is operative. Rue and Ibrahim (1998) define small firm as an employer of more then 15 employees. Perry (2001) set an upper limit of 500 employees as a sole identifier for business to be regard as small. The review clarify that the ambiguity is stable over time. The lack of uniform definition in the sixtieth continued throughout the decades into the millennium. The industries targeted by the different scholars do have one common base; the focus was on industries with low to average economic growth such as manufacturing, trade (retail, wholesale) and service.

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Internet Marketing Definition ? What’s The Secret?

The number of people who want to establish an online business increasing every year and as many countries move deeper and deeper into recession, it is believed that more and more individuals, especially those directly affected by the financial crisis, to opt to become Internet entrepreneurs particularly because of the fact that it involves very little capital. Yet, many people who plan to become Internet marketer do end up as one.

One of the reasons for this is that they are intimidated with Internet marketing. In fact, it is suspected that many people do not even though exactly what Internet marketing is. This articles aims to provide an Internet marketing definition that will be easily understood by ordinary individuals. You can find other Internet marketing definitions in other places but most of them are full of jargon that ordinary folks end more confused with them. As part of providing you with an easy-to-understand Internet marketing definition, I will briefly describe how the Internet marketing process works so you will better appreciate this exciting and profitable activity.

Internet marketing is actually a broad term that encompasses any activity of promotion and advertising of a product or a service online. This is the most simplest Internet marketing definition that you can find. In Internet marketing, you can either be promoting your own product or service or that of another person or company. The latter is a practice that is known as affiliate marketing and the person selling the product of service of another person or company is called an affiliate.

As I've said, I will describe how Internet marketing works as part of providing you with an Internet marketing definition. I.M. Starts with a niche in which you will either choose an existing product or service to promotes or you can create your own. Next, you must choose a method of promoting that product or service.

I hope this Internet marketing definition is able to show you how simple I.M is.

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Entrepreneurship: Definition, Types, and Motivational Factors

Entrepreneurship: Definition, Types, and Motivational Factors

Definition

The word entrepreneurship has been derived from a French root which means “ to undertake”. It is also called by various names, e.g. adventurism, risk taking, thrill seeking, innovating, etc.

According to Higgins, “ Entrepreneurship is meant the function of seeking investment and production opportunity, organizing an enterprise to undertake a new production process, raising capital, hiring labor, arranging the supply of raw materials, finding site, introducing a new technique and commodities, discovering new sources of raw materials and selecting top managers of day-to-day operations of the enterprise.

Jaffrey A. Timmons has defined entrepreneurship as “the ability to create and build something from practically nothing. Fundamentally, a human creative activity, it is finding personal energy by initiating, building and achieving an enterprise or organization rather than by watching, analyzing or describing one. It requires the ability to take calculated risk and to reduce the chance of failure…..”

According to A.H.Cole “entrepreneurship is the purposeful activity of an individual or a group of associated individuals, undertaken to initiate, maintain or aggrandize profit by production or distribution of economic goods and services.”

Characteristics and Significance

A Function of High Achievement: People having high need for achievement are more likely to succeed as entrepreneurs, according to McClelland. Motive is high achievement and profit is merely a measure of success and competency.

Innovation: According to Schumpeter, entrepreneurship is a creative activity. An entrepreneur is basically an innovator who introduces something new into the economy.

Organization Building Function: According to Harbison, Organization Building skill means the ability to “ multiply oneself” by effectively delegating responsibility to others.

A Function of Managerial Skills and Leadership: Managerial skills and leadership qualities are more important than financial skills

A Function of Status Withdrawal: According to Hagen,” Creative innovation or change is the fundamental feature of economic growth. He describes an entrepreneur as a creative problem solver interested in things in the practical and technological realm.

Types of an Entrepreneur

Innovating Entrepreneur:

Aggressive in experimentation and clever in putting attractive possibilities into practice.

Adoptive or Imitative Entrepreneurs:

They adopt best practices. Imitative entrepreneurs are revolutionary and important.

Fabian Entrepreneurs:

Drone Entrepreneurs:

Against any change in production method even at the cost of losses.

Forced Entrepreneurs:

They become entrepreneurs on account of circumstances

Functions of an Entrepreneur

Perceiving market opportunities

Gaining command over scarce resources

Managing human relations within firms

Marketing of the products

Responding to the competition

Dealing with bureaucracy

Managing finance

Upgrading process and product quality

Managing costumer and supplier relations

Introducing new production techniques and products

Risk Taking

Organization and management

Qualities of a good entrepreneur

According to McClelland:

An unusual creativeness

A propensity of risk taking

A strong need for achievement

According to Prof. Tandon :

1. Capacity to assume risks

2. Technical Knowledge and willingness to change

3. Ability to marshal resources

4. Ability of organization and administration

According to more than fifty research studies:

Total commitment, determination and perseverance Drive to achieve and grow Opportunity and goal orientation Taking initiative and personal responsibility Persistent problem solving Realism and sense of humor Seeking and using feedback Calculated risk taking and risk seeking 9. Low need for status and power

10. Integrity and reliability

11. Capacity to work hard

12. Self Motivation

13. Vision and foresight

14. Sound Judgment

15. Flexibility and sociability

16. Persistence in the face of adversity

17. Will to conquer and impulse to fight

Entrepreneurial Motivation Factor

Educational background

Occupational Experience

Desire to work independently

Desire to branch out to manufacturing

Family background

Assistance from Government

Assistance from financial institution

Availability of technology/raw material

Profit margin

Desire for taking personal responsibility

Anticipation of future possibilities

Success stories of entrepreneurs

To gain social prestige

Heavy Demand

Technical knowledge

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