Should we think beyond employment? Is employment the cure for every problem?

Entrepreneurship means different things to different people

Entrepreneurship is considered worldwide as important factor in the searching of development,competitiveness and sustainable development.

Many people and Researchers mean different things when it comes to entrepreneurship.These differences in what entrepreneurship means,has very important consequences.

There are many on going efforts or at least intentions among policy makers,communities,schools,colleges and universities to develop entrepreneurship.However what one promote on 'entrepreneurship' depends substantially on which definition one adopts.

Different definitions that are adopted to mean entrepreneurship are such as:

1) Starting and running informal or micro enterprises
2) Starting and running any business
3) Starting and running a business entrepreneurially (i.e innovatively,independently,commited,seeking growth,adopting strategic business practices)
4) Operating entrepreneurially  in an endeavor and in any context ( To create,enhance,realize or renew value through innovation, commitment,seeking growth and development,adopting strategic practices etc)

A PRODUCT

The economic meaning of product was first used by political economist Adam Smith. In economics and commerce, products belong to a broader category of goods

-an item that ideally satisfies a market's wanted or need

-a deliverable or set of deliverables that contribute to a business solution

PRODUCT' can be classified as tangible or intangible. A tangible product is a physical object that can be perceived by touch such as a house, automobile, computer, pencil.

An intangible product is a product that can only be perceived indirectly such as an insurance policy

                                                        Product Life Cycle Model

     Product Life Cycle Model

•       This is a hypothetical stage through which products or services pass in a given market.

•        A product is defined as "anything that is capable of satisfying customer needs.

•       This definition includes both physical products (e.g. cars, washing machines, DVD players) as well as services (e.g. insurance, banking, private health care).

•       Businesses should manage their products carefully over time to ensure that they deliver products that continue to meet customer wants 

Examples  on   Product Life cycle

INTRODUCTION           GROWTH                 MATURITY                           DECLINE

First Example

E-conferencing                           Email                         Faxes                             Handwritten letters

 

Second Example

 3^rd Generation

Mobile phones                P. DVD     Players               P Computers                      Typewriters

Third Example

Iris-based                           Smart cards                         Credit cards                 Cheque  books

Personal

 identity cards

 

The Genesis of Internet

     

• Internet is defined as  Network of Networks-A network of interlinked computers worldwide operating on a standard protocol, which allows data to be transferred between otherwise incompatible machines(Hamill,1997)

• The origins of the Internet reach back to the research of the 1960s, commissioned by the United States government in collaboration with private commercial interests to build robust, fault-tolerant, and distributed computer networks

•  Internet started to be publicly and commercially used in the early 1990’s

• As of 2011, more than 2.2 billion people – nearly a third of Earth's population — use the services of the Internet.     (Internet world statistics, March 2011)