MY BLOG EXPERIENCE

Good day everyone next week i will be starting my final semester EXAM, i have to say GOOD BYE to everyone to enable me read for my exams. My experience with BLOG has been very interesting, this is because BLOGGING offers me the opportunity to share with the world what i have learned when offering ENT101. Firstly, i want to thank you all for making it happen and thank you all for your support. Lastly, i will like to thank my ENT101 Instructor for the support and courage i get from her. BYE BYE See you Guys next time. 

FRANCHISE

Franchise

Terms associated with Franchise

1. Franchise is the process in which the legal owner of trademark, trade name or copyright grants license to others to use in their models of business (be it buying or selling).

2. A Franchisee is one who purchases a franchise and has been approved the license to use the franchisors copyrights and business model in his own business concept.

3. Library source: Brooke, B. (2000), define Franchise as a business agreement in which the franchisor grants license to franchisee to use his trademark, trade name, copyright in his own business concept.

4. Franchisor is the legal owner of trademark, trade name and copyright of a company. Franchisor is also known as the seller of a franchise.

Advantages Of Franchising

Training and Guidance:

The franchisee receives guidance from his franchisor on how to run a successful business.

  Monetary Assistance:

Franchisors help the franchisees with the capital when setting up their business and also when the need of financial assistance arises.

   Risk minimization:

Buying a franchise that has already existed for some years will minimize the risk that will be involved in starting business operation.

Brand Name Appeal:

A Franchisee who buys a well known franchise is likely to succeed, because people are already aware of the quality of their products and services.

Example of Franchise Company's.

In Nigeria Nobel Carpets and Rugs is one of the which sells carpets and rugs in Northern Nigeria and some parts of southern Nigeria. It’s located in the following states: Adamawa, Jos, Bauchi, Kaduna, Borno, Lagos.

In United States Pizza Huts is one of the Franchise which is one of the biggest pizza shop in US. Pizza hut franchisees are located in North Carolina, California, Texas, Florida etc.

In United States Sonic Drive-In is one of the fast food restaurant franchise company, Drive-In headquarter is located in Oklahoma City, Oklahoma,United States.

Work Cited

Brooke, Bob. "Franchising: Benefits Vs. Risks." Hispanic 13.3 (2000): 58. Academic Search Complete. Web. 8 Nov. 2012. 

TAKING BETTER LECTURE NOTES.

Good Morning everyone.

Please watch to see how you can Improve and learn a good method to take lecture note.

I really need your comments.

TYPES OF INNOVATIONS.

Hello viewers, this morning i will be sharing with you the four(4) different type of innovation. They are as follows:

• Invention
• Extension
• Duplication
• Synthesis

1. Innovation: This is the process of creating new product, service, or process e.g. Alaxendra Graham Bell - Telephone.
2. Extension: New use or different application of an already existed product, service or process. e.g. Mark Zuckerberg - Facebook, Ray Kroc - MC Donald's.
3. Duplication: Creative replication of an already existed concept. e.g. Gateway - Personal computers, Wal-Mart - Department store.
4. Synthesis: This is the combination of an existed concept and factors into a new formulation or use e.g. Fred Smith - Fed Ex.

please leave your comments...

CREATIVITY AND INNOVATION

Creativity is the generation of ideas that results in the improved efficiency or effectiveness of a system. e.g.

Innovation is the process by which entrepreneurs convert opportunities in to marketable ideas.e.g.

Sources of Innovative Ideas

TRENDS: Social trends, Technology trends, economic trends, government trends.

UNEXPECTED OCCURRENCE: Unexpected Success; Apple computers, Unexpected tragedy; 9-11 terrorist attack.

PROCESS OF NEEDS: Online Banner Registration, Microwaves, Sugar free products, coffee free products.

INDUSTRY AND MARKET CHANGES: Health care industries: changing to home health care.

DEMOGRAPHIC CHANGES: Rest homes.

PERCEPTUAL CHANGES: Exercise and the growing concern for fitness. 

INCONGRUITIES: Overnight package delivery. 

KNOWLEDGE-BASED CONCEPT: Mobile phones technology, Pharmaceutical Industry devices; Robotics.

ACRONYM FOR SOURCE OF INNOVATIVE IDEAS;

T
U
P
I
D
P
I
K
please leave your comments.

JEAN DESRAVINES FOCUS ON EDUCATION.

Name: Jean Desravines
Age: 40
Headquarters: New York City
2010 budget: $40 million

Profile

Bad school districts have a tough time recruiting the great principals they so desperately need. But even the worst districts usually have a few outstanding teachers. Solution: Recruit these teachers and train them to be principals through a yearlong New Leaders program.

15 FREE LEARNING SITES.

15 Free Learning Sites You Haven't Heard of Yet - Online College Search - Your Accredited Online Degree Directory Check it Out http://www.onlinecollege.org/2012/09/18/15-free-learning-sites-you-havent-heard-yet/

THE FABULOUS LIFE OF SAUDI PRINCE

Saudi Prince

Prince Al Waleed Bin Talal was a Royal Man and an Investor from Saudi Arabia, his net worth was about $20 billion. His personal Paradise in the world  is located in Riyad Saudi Arabia with 317 rooms, indoor and outdoor swimming pools, beauty saloon screening room, and beauty saloon, also he emplyed 100 workers for rescue and just had to sat in front of his 500 TV's and watch everything that going on. Prince Al-Waleed travels around the world with his 747 jumbo jet 40,000 cubic feet and cost $200 million.

E-LEARNING

Hi everyone, I just discovered this Great e-learning website where you can Practice Maths that includes Pre Calculus, Calculus, polynomial, Algebra etc. and science related courses like computer science. You just have Check it Out ''http://www.khanacademy.org'' Its COOl

ALIKO DANGOTE : THE REAL LIFE OF GOLDEN CHILD.

Watch the fabulous life of African Billionaire (Aliko Dangote)  his Assets, Jets and how he runs his Venture.

THE FABULOUS LIFE OF FILTHY BILLIONAIRES VIDEO VERSION

Watch this Video to see how this billionaires Spent their money on Mansion, Jets, Mega yacht and lots more.

THE FABULOUS LIFE OF PAUL ALLEN

Fabulous Life of Filthy Billionaires.

PAUL ALLEN

Paul Allen Microsoft Co-founder was billionaire from Washington US with the net worth of $22 billion, he spent $120 billion in making his mega Compound  in Mercer Island Washington , his compound consist of five mansions: One Mansion that covers 10,000 sq is for Paul and the 6500 sq mansion is for his mom the others mansion according to reporter, might just be there so that he don't have anyone next to him and also a 400 feet of Lake Washington waterfront and a National Basketball Association regulation-sized gym (he owns the NBA's Portland Trailblazers). Paul's spaceship jet was the first spaceship to leave the earth atmosphere. He also owns 414 sq Mega yacht Called OCTOPUS and it cost him $200 million which makes leaves luxurious life in the sea. The mega yacht is equipped with 2 helicopters, swimming pool, basket ball court, movie theater, Allen is also know for throwing huge celebrities stubbed parties in his yacht .

Paul Allen's Mega Compound

SOCIAL ENTREPRENEURSHIP

Social Entrepreneurship is the process identifying social opportunity and translating in to an enterprise. A person who founds or engage in Social Entrepreneurship is called Social Entrepreneur: They are For example, one who is engage in Drugs and Alcohol counselling and remedial education program for disadvantaged employees are considered to be Social Entrepreneurs. Moreover, social entrepreneurship solve the problem of the bottom pyramid. 

Steps in Creating Social Venture.

1. Recognition of perceived social opportunity.

2. Translating the social opportunity into an entrepreneurial concept.

3. Identification and acquisition of resources required to execute the enterprise goal.
4. Heightened sense of accountability.

Examples of Social Entrepreneurs and what their Ventures they founded.

1. In 2006, Teach for America founder Wendy Kopp and City Year cofounders Michael Brown and Alan Khazei were profiled among U.S. News & World Report’s Top 25 Leaders.

2. Muhammad Yunus and his organization, the Grameen Bank, were awarded a Nobel Peace Prize. 

3. Victoria Hale of the Institute for OneWorld Health and Jim Fructerman of Benetech received “genius awards” from the MacArthur Foundation. They identify themselves as social entrepreneurs.
(Kuratko, Donald. Introduction to Entrepreneurship, 8th Edition. Cengage Learning UK, 3/14/09. p. 81).

COOPERATE ENTREPRENEUR

Cooperative Entrepreneurship also known as Intrapreneurship is the process where by an individual within an existing organization creates a new or initiate renewal of the products within the organization.

Ways That Organizations Can Encourage Intrapreneurship.
1.Management Support.
2.Time Availability.
3. Reward and Reinforcement.
4. Tolerate Failure.

ENTREPRENEURIAL STRESS

Entrepreneurs Stress is the inability of entrepreneur to perform requested work because the work has gone beyond his capacity as a venture initiator.


Causes Of Entrepreneurial Stress

1. Loneliness.
2. Immersion In Business.
3. Peoples Problem.
4. Need to Achieve.

Dealing With Entrepreneurial Stress

1. Networking.
2. Getting Away from it all.
3. Communicating with employees.
4. Finding Satisfaction Outside the company Delegation.

CHARACTERISTICS THAT ENTREPRENEURS SHARES

Common Characteristics that Entrepreneurs Shares:

1. Persistence:- They are always Willing to work until the job is done.

2. Creative:- They are continually looking for new ways to solve problems.

3. Inquisitive:- They always wants to know as much as possible about anything that might affect their venture.

4. Goal Oriented:- They decide where they want to go.

5. Self Demanding:- They always have high expectation of themselves.

6. Action Oriented:- They make decision and acts on it.

7. Enthusiastic:- They are energetic and passionate about their pursuit.

Dark Sides Of Entrepreneurship.

1. Family Risk – At the beginning of setting up a new ventures entrepreneurs creates family risks because they have no time to attend to family issues like looking after their children’s and wife. 

2. Occupational Risk – Some entrepreneurs leaves their job and starts a venture.

3. Financial Risk- starting a new venture requires a capital that is some entrepreneurs    while starting up a venture put in part of their savings and resources and if the   business was unsuccessful they will they loose.

INTRAPRENEURSHIP And Example

Ken Kutaragi the father of playstation

Intrapreneurship is the process where by an employee develop an innovative and creative idea in an organization, without asking to do so. for example,







Ken Kutaragi was working in Sony’s sound labs when he bought his daughter a Nintendo game console. Watching her play, he was dismayed by the system’s primitive sound effects. He realized that a digital chip dedicated solely to sound would improve the quality of the games — and the product itself. Keeping his job at Sony, Kutaragi developed the SPC7000 for the next generation of Nintendo machines. Sony execs nearly fired him after discovering his sideline project, but then-CEO Norio Ohga realized the value of his innovation and encouraged Kutaragi’s efforts. With Sony’s blessing, Kutaragi worked with Nintendo to develop a CD-ROM-based Nintendo. But Nintendo decided not to go forward with it, so Kutaragi helped Sony develop its own gaming system, which became the PlayStation. The first PlayStation made Sony a major player in the games market, but the PlayStation 2 did even better, becoming the best-selling game console of all time. Kutaragi founded Sony Computer Entertainment, one of the Sony’s most profitable divisions.

Also,

Lary Honbeck

TI researcher Larry Hornbeck had been tinkering for a decade with technology using tiny mirrors to redirect photons when his team developed the Digital Micromirror Device in 1987. DMD initially was used to print out airline tickets, but the government’s Defense Advanced Research Projects Agency initiated research in high-definition video and awarded TI and other manufacturers a multi-million dollar contract to work on the issue. TI execs started an internal venture called the Digital Imaging Venture Project and tapped Hornbeck to lead it. At the time, video projectors weighed 40 to 50 pounds and cost $15,000 to $18,000. Hornbeck realized DMD technology could greatly shrink the size and cost of a digital projector. Digital Light Processing quickly became an industry standard, dominating the market in projectors less than five pounds. The technology also has revolutionized the movie theater business and allowed Texas Instruments to compete in the HDTV market. Hornbeck received an Emmy for Outstanding Achievement in Engineering Development in 1998. 

ARE YOU A HIGH ACHIEVER?

ARE YOU A HIGH ACHIEVER?
One of the most important characteristics of a successful entrepreneur is the desire to be a high achiever. The following ten questions are designed to help identify your achievement drive. Write the letter preceding your answer in the blank to the left of each question. Scoring information is provided at the end of the exercise.
1. An instructor in one of your college classes has asked you to vote on three grading options: (a) Study the course material, take the exams, and receive the grade you earn; (b) roll a die and get an A if you roll an odd number and a D if you roll an even number; (c) show up for all class lectures, turn in a short term paper, and get a C. Which of these options would you choose?

2. How would you describe yourself as a risk taker? (a) high, (b) moderate, (c) low.

3. You have just been asked by your boss to take on a new project in addition to the many tasks you are already doing. What would you tell your boss? (a) Since I’m already snowed under, I can’t handle any more. (b) Sure, I’m happy to help out; give it to me. (c) Let me look over my current workload and get back to you tomorrow about whether I can take on any more work.

4. Which one of these people would you most like to be? (a) Steve Jobs, founder of Apple Computers, (b) Lee Iacocca of Chrysler fame, (c) Jack Welch, former CEO of General Electric.

5. Which one of these games would you most like to play? (a) Monopoly, (b) bingo, (c) roulette.

6. You have decided to become more physically active. Which one of these approaches has the greatest attraction for you? (a) join a neighborhood team, (b) work out on your own, (c) join a local health club.

7. With which one of these groups would you most enjoy playing poker? (a) friends, (b) high-stake players, (c) individuals who can challenge you.

8. Which one of these persons would you most like to be? (a) a detective solving a crime, (b) a politician giving a victory statement, (c) a millionaire sailing on his or her yacht.

9. Which one of these activities would you prefer to do on an evening off? (a) visit a friend, (b) work on a hobby, (c) watch television.

10. Which one of these occupations has the greatest career appeal for you? (a) computer salesperson, (b) corporate accountant, (c) criminal lawyer.
Scoring: Transfer each of your answers to the following scoring key by circling the appropriate number (for example, if your answer to question 1 is c, you will circle the number 2 in row 1). Then total all three columns to arrive at your final score.
I scored 79 because im a High Achiever i.e. High achievers are moderate risk takers in important situations and also high achiever think before they implement any action or idea.

DIFFERENCES BETWEEN ENTREPRENEUR AND SMALL BUSINESS OWNER

Small business Owner	An Entrepreneur
Stable business profit.	Large outcome of profit.
Stable sales.	Huge growth in transactions.
Stable growth	Sustainable Growth.

MYTH 3: ENTREPRENEURS SEEK SUCCESS BUT EXPERIENCE HIGH FAILURE RATES.

This myth means that entrepreneurs often suffer failure before they are successful; if they don’t succeed they struggle again because an entrepreneur believes failure teaches lessons that lead to future success. And also an entrepreneur doesn’t give up easily.

MYTH 2. ENTREPRENEURS ARE ACADEMIC AND SOCIAL MISFITS

This myth means that entrepreneurs are not academically and socially effective. This was as the result some entrepreneurs started successful business after dropping out of school or leaving from their former job to be entrepreneurs. Before, educational and social organizations did not recognize an entrepreneur. But an entrepreneur is now considered a highly educated professional with excellent communication skills and someone with zeal to bringing economic development to the community, Country an the world at large.

MYTH 1. ENTRPRENEURS ARE DOER'S NOT THINKERS.

Although entrepreneurs have tendency towards action,But they are also thinkers. Entrepreneurs are systematic people who plan their moves carefully. To have successful business you must first have a clear and complete business plan.

10 MYTHS ABOUT ENTREPRENEURS

1. Entrepreneurs Are Doers, Not Thinker.

2. Entrepreneurs Are Born, Not Made.
3. Entrepreneurs Are Always Inventors.
4. Entrepreneurs Are Academic and Social Misfits.
5. Entrepreneurs Must Fit the “Profile”.
6. All Entrepreneurs Need Is Money.
7. All Entrepreneurs Need Is Luck.
8. Ignorance Is Bliss for Entrepreneurs.
9. Entrepreneurs Seek Success but Experience High Failure Rates.
10. Entrepreneurs Are Extreme Risk Takers (Gamblers).

ENTREPRENEURSHIP

What is Entrepreneurship?
entrepreneurship is the dynamic process of vision, change and creation which requires the application of energy and passion and the willingness to take risk.

Ways to success

"When you reach an obstacle, turn it into an opportunity. You have the choice. You can overcome and be a winner, or you can allow it to overcome you and be a loser. The choice is yours and yours alone. Refuse to throw in the towel. Go that extra mile that failures refuse to travel. It is far better to be exhausted from success than to be rested from failure."- Mary kay

Plagiarism Checker

Hi everyOne
     I just discover this site that can help you scan plagiarism before submitting your Assignment, course work or project......Check it Out                            http://www.dustball.com/cs/plagiarism.checker/