Examine the market research required for the catering company as a new Lab Report

Examine the market research required for the catering company as a new start-up sole trader company - Lab Report Example Subramaniam and Coyne (2013) emphasised that due to the intensity of rivalry that start-ups face, market researches are very important for them in ensuring that they take the right actions towards their targeted market. In the current case, the start-up sole trader is a catering company with 5 workers and 1 owner. All workers have the same level of skill in driving, baking, cooking and making of table. The staff of the company are considered well motivated for the roles they are assigned. The business idea of the new start-up sole trader company is to organise parties for individuals, families and corporate bodies. This means that the company is broadly in the hospitality industry as its business orientation requires the provision of food service to clients (Davis, Eisenhardt and Bingham, 2009). This enterprise is considered appropriate for the sole trader given that the sole trader has personal experience in catering. There are various price strategies available for the sole trader. On the whole, pricing is based on the client size and the nature of service requested. This is because there are general services and prestige services. There is also a pricing formula where the larger the client size, the lower the price per head of service received. An ideal price for general service is $10 per head whiles that for prestige service is $15 per head. The sole trader liaises with external suppliers who use the route planning model of logistics as way of achieving efficien t logistics (Ciborra, 2006). The current market segment of the sole trader is corporate institutions, meaning there is a business to business (B2B) business model (Stewart and Cohen, 1994). The use of differentiation strategy is the company’s major strategic option. Whiles the sole trader is in the market also, constant research that helps them to come to terms with the changing dynamics of the market is also necessary

Northern Rock PLC Essay Example | Topics and Well Written Essays - 1000 words

Northern Rock PLC - Essay Example In this way the government, representing the taxpayers, may recoup its investment and the bank may be returned to the private sector. A bank that shows consistent profit is attractive to potential buyers. To do this its financial strategy must continue its plans of further restructuring its business model. It must reduce its capital costs base by better cost management. And while pursuing and adjusting to medium term growth, Northern Rock must focus on innovation and new markets, and continue to build on transparent and open communication with its stake-holders. Discussion Today, under Government ownership, Northern Rock Plc has kept together some 70 branches over which it must wield a steady hand toward corporate profit in the interest of its stakeholders, the taxpayers, and its depositors. Since its black day of 17 September 2007, when depositors were shown on worldwide TV queuing in long lines outside the bank to make their withdrawals, the bank has went through several stages of restructuring. The initial one was the takeover by the government. Throughout these restructuring processes, the bank has sought to rebuild a substantial market for its mortgage loans, a market that is different from the business plan that the bank had pursued before 2008. Previous to 2008 and after Northern Rock became public in 1997, the bank soon embarked on a risky business plan that was coupled to a flawed bank regulatory system. Since 1997 Northern Rock was regulated by the newly created Financial Services Authority (FSA). The FSA did not share any information it had with the Treasury or with the Bank of England who was responsible for monetary policy. Both the FSA and the Bank of England were slow to step in and stop Northern Rock’s demise. The FSA had, in June 2007, instead allowed Northern Rock to decrease its amount of required on-hand capital. This action exemplified the regulatory system that allowed the bank to overextend itself in the speculative mortgage deriva tive market. But even today the bank as a retail and savings bank must rebuild its image and processes in the same waters of financial risk. During the period of the default, Northern Rock’s business plan was based on securitizing mortgages in the short-term wholesale market to support its long-term longs. It was packaging multiple mortgage loans and selling them as bonds to investors. This business model had depended on stability in the mortgage securities market and the confidence of those who traded in the debt packages. When the housing prices begin to show full scale plummeting from speculated highs, lenders stopped extending rollover loans to Northern Rock and they eventually took their money from the bank. In August 2007 credit froze up in the bank liquidity market and Northern Rock could no longer sell bonds over the face of a broad liquidity freeze. It could not make any new loans. On August 13, 2007, the bank requested emergency funding from the Bank of England. It was only after the Chancellor of the Exchequer guaranteed all deposits at the bank in later September did the resulting bank run stop. The present Northern Rock Plc was created from The Northern Rock Transfer Order which on 1 January 2010 restructured the bank into two banks, Northern Rock Plc, the savings bank with new mortgages, and the Northern Rock Asset Management Plc (NRAM) (NRP, 2011). The latter took over the "toxic" mortgage assets and is concentrating in mortgage loans. North Rock Plc began its

Psychology of Aesthetics: Overview of Theories

Psychology of Aesthetics: Overview of Theories How is aesthetic experience linked to familiarity and information? Critically discuss at least two theoretical perspectives and provide evidence based on the literature. The phenomenon of aesthetic experience refers to a preference judgement to sensory experience. This hedonic response has its roots from the philosopher Baumgarten 1750 (as cited in Reber et al, 2004) who likened the concept of sensation and perception pertaining to beauty, appreciation and art. The philosophical approaches influenced the endeavor to discover contributors to aesthetic experience. Conversely, Fechner adopted an empirical approach rather than the complex philosophical approaches to understanding aesthetic experiences. For instance, experimentation on stimulus properties and preference responses provided a more organized bottom – up approach. (Shimura and Palmer, 2014) Gestalt psychologists took on a holistic approach to the principles of perceptual organization. For instance, the principle of familiarity suggests that objects appear to be grouped if the groups are assured to be familiar or meaningful. (Goldstein, 2002) Another principle proposed is that stimulus patterns are pictured in a style that is the most simplistic. For example the Olympic symbol is not usually perceived as nine shapes within five circles but simply as five circles. Thus, Gesalt account does provide a reason into the perception of stimulus. However, Gesalt principles do not explain the role of familiarity and simplicity of information in aesthetic experience. (Goldstein, 2002) One explanation introduced by the processing fluency is the ease of processing information which consists of perceptual fluency and conceptual fluency. (Reber et al. 2004) Perceptual fluency refers to the ease of processing the perceptual features of a stimulus (Jacoby and Kelley,1987). Whilst, Conceptual fluency is the ease of processing the meaning of a stimulus, or the fluency of conceptually driven processing (Whittlesea, 1993). Prior exposure to stimuli can increase processing fleuncy this is the mere exposure effect report by Zajonc (1968) He theorized the more often an individual is exposed to an object the more likely they are to develop a preference for stimulus that is familiar than unfamiliar. He demonstrated the causal relation between mere exposure and attitude enhancement. Through a series of experiments nonsense words, Chinese ideographs and photographs of faces were presented in counter balanced order to participants and rated on a scale of how good or bad stimulus words meant and how favorable photographs were. Liking for a stimulus was found to be positively related to the amount of stimulus exposure. The proximity of experienced fluency and preference judgment can lead participants to misinterpret fluency as their preference reaction to the stimulus. Hence, repeated exposure of a stimulus increases perceptual fluency, which in turn increases the likelihood of misattribution to preference for stimulus. (Bornstein and D’Agostino, 1994).The mere exposure effect can provide an account for, different cultural preferences seen in society. For instance, Hannon et al. (2012) used simple rhythms common in American and Turkish music, complex rhythms common in Turkish music and highly complex rhythms not found in Turkish and American music. Turkish participants performed accurately in simple and complex conditions. However, they performed less accurately in highly complex condition. Conversely, Americans performed accurately when detecting disruptions to the simple rhythm. However, they performed less accurately on the complex and highly complex conditions. Nonetheless , the robustness of the mere exposure effect is controversial. Kali (1974) exposed children aged seven, nine and eleven years old to Chinese characters. Children then ranked the stimuli according to liking. The seven and nine year olds preferred the familiar characters and the eleven year olds preferred the novel stimuli. Another set of ranks taken three weeks after indicated that eleven year olds preferred the more familiar characters. It was proposed boredom effects intervened on preference ratings. Indeed, Borstein et al. (1990) suggests That, simple stimuli become boring in comparison to complex stimuli. Berlyne 1960,1974 (as cited in Messinger,1998) proposed that intermediate levels of information produce the highest ratings.Thus, Uncertainty of information is related to aesthetic preference in the inverted U shape function rather than the linear function proposed by the mere – exposure effect. Whilst, preference was based on stimulus related arousal, preference increases to maximal liking, as arousal potential reaches the optimal level. Furthermore, arousal leads to a decrease in liking thus displeasure increases. ( Martindale et al. 1990) This idea of information on preference derived from information theory which is based on mathematical principles. (Berlyne,1957) utilizing a logarithmic equation to measure information yielded by all possible combinations of a given number of stimuli. When there are equally likely possibilities in a stimulus set, the higher the figure the more informational stimulus tends to be, since more combinations are involved. Martindale et al. (1990) tested Berlyne’s predictions. In the first experiment they asked participants to rate their liking for a series of random polygons varying in size and number of turns. A rating scale has the advantage that it provides a degree of opinion rather than a binary response. Results indicated that polygons with ten turns were preferred and that size had no effect on preference. However, when the same experiment was repeated with a larger range of size and complexity levels. Preference was linearly related to complexity. This questioned the ecological validity and generalizability of Berlyne’s model. Martindale et al. (1990) This contradiction challenges the processing fluency account as a simple stimulus should be preferred as there is less information compared to complex stimulus. Perhaps the mediation of other factors plays an important role, such as expertise and expectation. Reber et al (2004) when expectections of complex stimuli are violated by e asy processing then this creates pleasure. Reber et al. (2004) Asethetic pleasure has been found to vary among experts and novices. People who are novices tend to prefer simple, protypical stimuli such as symmetry whereas experts prefer complex, asymmetrical stimuli. (McWhinnie, 1968) Preference for symmetrical sequences in body movement was investigated by Orgs et al. (2013). Participants were exposed to either symmetrical or asymmetrical sequences. Both groups, then rated the sequences. Results indicated that both groups rated symmetrical sequences higher. Participants in the asymmetrical group displayed an increase preference for asymmetrical sequences. This can be explained by the mere exposure effect. The influence of aesthetic preference on compositional structure and postural information may differ among novice and experts. Moreover, other behaviours such as the ability to identify the structure in aesthetic experience and if participants are asked to perform actions instead of using rating scales is to be explored. Jacobsen and Hoefel (2003) showed symmetrical and non symmetrical patterns and recorded whether participants judged them as beautiful or not beautiful. They correlated this to Event related potentials. The results indicated that symmetrical patterns were positively correlated to beautiful judgements. Aesthetic judgements related to anterior frontomedian and right hemisphere activation. This does provide an account of processing aesthetic appreciation occurring in specialized brain areas. Nevertheless, this correlation does not mean that specialized brain activation causes aesthetic preference for symmetrical patterns. Event related potentials (ERP) are difficult to detect in the electroencephalograms (EEGS) the ERP is combined with other electrical signals. However the procedure offers a non-invasive technique compared to other procedures which expose participants to radiation or injection. (Kolb and Wishaw, 2009) In addition, the variety of aesthetic preferences are not captured by the forced choice methods. Preference for symmetrical patterns may be due to fluent processing as there is less information to process. (Reber et al. 2004) The preference towards a given feature over another is not well explained. Bar and Neta (2006) Adopted an evolutionary perspective, they proposed sharp objects signal danger and curved objects signal safety. They found a preference for curved objects. Furthermore, there was no difference in reaction time, which challenges the perceptual fluency account. Findings support the mere exposure effect as real objects was preferred over novel patterns. Evolutionary perspective poses issues of falsification however, Carbon (2010) used realistic images of cars from 1950 to 1999 and found a preference for curved models, although fashion trends can also have an impact. The stimuli used is more realistic than rating polygons. In addition, this illustrates aesthetic experiences can change over time. The majority of the studies discussed explore aesthetic liking, however, many dimensions of aesthetic experiences exist. Such as, the pleasure of negative emotions is not captured well. In overview, the studies discussed suggest that the familiarity, novelty, complexity, simplicity of information plays an important role in aesthetic experiences. ( Zajonc,1968; Messinger ,1998) That is, preference for something is in between familiarity and novelty. As boredom intervenes with preference and familiarity. (Borstein et al.1990)Novelty can violate expectations and signal danger. (Reber et al.2004;Bar and Neta, 2006) This is similar for complex and simple information. Preference for something is between easy and challenging stimulus. ((McWhinnie,1968) Preference for things that is known can explain cultural differences in aesthetic experiences. (Hannon et al, 2012) Through neuroaesthetic approaches, specialized brain areas can be linked to aesthetic experience. (Jacobsen and Hoefel, 2003) Despite, different tastes neuroaesthetics can offer a way of investigating the underlying mechanisms involved in the aesthetic experience to generate a set of principles that influence aesthetic experiences. In a nutshell, the theoretical perspectives indicates detecting regularities and understanding information is something humans find aesthetically pleasing. References Bar.M,Neta.M (2006) Humans prefer curved visual objects. Psychological science,17,645-648. Berlyne.D.E. (1957) Uncertainity and conflict: A point of contact between information-theory and behaviour – theory concepts. The psychological review. 64,6. 329-339. Borstein.E.R,Kale.R.A,Cornell.R.K. (1990) Boredom as a Limiting Condition on the Mere Exposure Effect.Journal of Personality and Social Psychology.58, 5, 791-800 Borstein.R.F, D’Agostino.P.R. (1992) Stimulus recognition and the mere exposure effect. Journal of personality and social psychology, 63, 545-552. Carbon.C.C. (2010) The cycle of preference: long –term dynamics of aesthetic appreciation. Acta psychologica, 134, 233-244. Goldstein.B.E (2002) Sensation and perception (6th edn) USA: Wadsworth. Hannon, E. E., Soley, G., Ullal, S. (2012, February 20). Familiarity Overrides Complexity in Rhythm Perception: A Cross-Cultural Comparison of American and Turkish Listeners. Journal of Experimental Psychology: Human Perception and Performance. Jacobsen.T, Hoefel.L. (2003) Descriptive and evaluative judgement processes: Behavioural and electrophysical indices of processing symmetry and aesthetics. Cognitive and Behavioural Neuroscience.4, 289- 299. Jacoby, Larry L. and Colleen M. Kelley (1987),Unconscious Influences of Memory for a Prior Event, Personality Social Psychology Bulletin, 13 (March), 314-336. Kali.V.R (1974) Familarity and attraction to stimuli: Developmental change or methological artifact ? Journal of experimental child psychology. 18, 504 – 511. Kolb.B,Whishaw.Q.I (2009) Fundamentals of Human Neuropsychology. (6th edn) New York: Worth publishers. McWhinnie.J.H. (1968) A review of research on aesthetic measure. Acta psychologica. 28, 363-375. Martindale.C,Moore.K,Borkum.J. (1990) Aesthetic preference: Anomalous findings for berlyne’s psychobiological theory. The American journal of psychology. 103,1, 53-80. Messinger.M.S (1998) pleasure and complexity: Berlyne revisted. The journal of psychology. 132, 5, 558-560. Orgs.G,Hagura.N,Haggard.p (2013) learning to like it: Aesthetic perception of bodies, movements and choreographic structure. Consciousness and cogition. 22, 603-612. Reber.R,Schwarz.N,Winkielman.P. (2004) processing fleuncy and aesthetic pleasure: is beauty in the perceiver’s processing experience ? Personality and social psychology review, vol: 8, 4, 364-382. Shimaura. P.A,Palmer. E.S.(2014) Aesthetic science connecting Minds, Brains and Experience. New York: Oxford university press. Whittlesea. A.W.B (1993) Illusions of familiarity. Journal of experimental psychology: Learning, memory and cognition. 19,6,1235-1253. Zajonc. R.B (1968) Attitudinal effects of mere exposure. Journal of personality and social psychology. 9, 1- 27.

History of Computers :: Computing Services Technology Essays

History of Computers For many people living in the 21st century, the computer has become a very important tool for everyone. The computer has the ability to give information, it can help to correct mistakes that people make, and it is able to keep track of many things. It is also able to do many different calculations, this was one of the reasons that sparked the idea of the computer so many years ago. The first computer dates back to about 2000 years ago. With the abacus, a wooden rack holing two horizontal wires with beads strung on them (Meyers 1). This idea came about because man wanted to be able to automate the counting system. Even though this was not an automatic machine, it allowed the user to remember calculations and it also help to perform complex problems (Hoyle). After the creation of the abacus there was not really much advancement on the computer. Until Blaise Pascal working on the first digital computer in 1642 (Meyers 1). Pascal’s dad was a tax collector and he designed the computer so that it would be easier for his father for perform mathematical computations. The machine was called the Pascaline computer. The computer was able to add and after making few adjustments it was able to multiply (Hoyle). In the 1600’s this was remarkable technology at the time but there were disadvantages. If there was a problem with the computer only Pascal would be able to fix it and it would cost a lot. In 1812 a mathematics professor by the name of Charles Babbage became aware 1 that many mathematical calculation were predictable and so therefore it was possible that it could be done automatically.

Macbeth Korean Translation Essay

In this play the characters Macbeth, Macduff, and Banquo were somewhat alike and somewhat different from each other, but they all played important roles. Some of the characters played a villain role and some played a more heroic role. Macbeth’s prophecy was that he was to become king of Scotland. Macbeth is friends with Banquo and he has a high status, rank, and respect for others. Macbeth and Banquo met the three witches together and they told them both about their futures. Before Macbeth killed the king he thought â€Å"If chance will have me King, why chance may crown me, without my stir. †(p. 36) He takes a noble action on his prophecy and doesn’t let fate take its roll. Once Macbeth became king he let his power control himself, and treats everyone unfair but his wife. When Macbeth found out that Banquo thought that the witches had told some things, Macbeth started to have visions of the daggers floating in the air before him with the tip of the dagger aiming toward Duncan. He thought he heard a voice cry â€Å"Sleep no more! Macbeth does murder sleep† (p. 352) Macbeth tried to grasp the imaginary dagger and failed. After Banquo’s ghost came to haunt him it started to make him suspicious and show that he is the one that killed him. Macduff is loyal to the king and the brave soldier. He is a father who cherishes his children and he is happy with his life. He was always a trustworthy person he never had disloyal or greed within himself. He became a noble man but he does not take any action on his prophecy. Macduff started to take suspicion into the death of Duncan. He became the main opposition to Macbeth and as the result of that his household became slaughtered, and he lost his wife and his son. Banquo is loyal to the king and also is a brave soldier and highly regarded as the king’s men. He is another father that cherished his children, but he was much as a greedy person. When he met with the three witches they told him that he is â€Å"lesser than Macbeth, and greater,† and â€Å"not so happy, yet much happier†, and then she told him that his children will become kings. Banquo felt â€Å"That, trusted home, might yet enkindle you unto the crown, besides the Thane of Cawdor. But ‘tis strange! And oftentimes, to win us to our harm, The instruments of darkness tell us truths, Win us with honest trifles, to betray’s In deepest consequence. †(P. 35) and it had him thinking that what the witches said might not of been so true. He and Macbeth were close friends. Macbeth became an untrue friend to Banquo. By that he had his servants kill Banquo because he was a threat to him and he thought that he would tell people that he killed the king and after he got him killed one of Banquo’s children escaped. All of these characters in the play have similarities because before the king was killed and they all had responsibilities that they each had to handle. Macbeth, Macduff, and Banquo were all friends until Macbeth had power an authority over the kingdom. The difference between each character revolves around their own personal loyalty. Macbeth has the devotion to become king and take power. Macduff had the loyalty of his family and the king and so did Banquo. The innocent characters into this play are Macduff and Banquo. More of Macduff because he wasn’t a really type of greedy person, nor did he want more of things his way. He obeyed his king and nobles. Banquo is loyal to his king and nobles but he was greedy at the same time so his greediness could have had him playing a villain role but he didn’t let it get into the way of some things. Macbeth is the most villain character in this play. He was at once an individual that was doing his job, now he is the character that is taking over people’s lives and started to kill innocent people. Right before Macbeth started to begin to kill the harmless people and gain power he was just as innocent as the citizens in his country. Once he found out that he was gone to have power and he told his wife she thought of him as to ambitious and kind to be king.

Mental Health Issues In The Great Gatsby - Free Essay Example

Sample details Pages: 3 Words: 893 Downloads: 9 Date added: 2019/03/26 Category Literature Essay Level High school Tags: The Great Gatsby Essay Did you like this example? The book The Great Gatsby by f. Scott Fitzgerald is a book that is famous for many reasons. Firstly, we know that its famous because it is still being used in the educational system of today. Don’t waste time! Our writers will create an original "Mental Health Issues In The Great Gatsby" essay for you Create order I believe this book is still being read today because of the lasting impact that resonates with the reader. Personally, I can relate to this book through the character jay Gatsby. Throughout The Great Gatsby by F. Scott Fitzgerald, I believe that Jay Gatsby is described to try really hard to make others happy, his failing to do so is what eventually leads to his depression. His depression and lack of guidance through his life is what indirectly leads to his death. In this book Gatsby tries hard to please and make Daisy happy. Throughout the book he does whatever he can do in his power to get her to like him. When Gatsby first meets Daisy she is really fond of him because he was being himself. Once Gatsby goes away for war, he loses sight of who Daisy is and who he actually is. The longer Gatsby is away, the more his perception of Daisy and their relationship gets further distorted. When Gatsby finally gets a chance to be with Daisy again, he realizes how different his idea of her has changed and over projected their relationship to be. Since Daisy, in the beginning, actually liked Gatsby for who he was and now Gatsby has turned lonely. The only thing Gatsby can think of to make Daisy happy is wealth. He believes if he can have a lot of money, this will win her back and restore their relationship as it was five years prior. as a result of this, Gatsby is desperate to obtain a lot of money. This is why he ends up having to turn to smuggling to t ry to acquire money. Smuggling does give Gatsby the money that he hopes for, but it is not enough for Daisy to like him again. This is quite similar to how I view our society today. The people in which I have a close connection/relationship to are always trying to make others happy. In the book, Gatsby works very hard to get Daisys approval/trying to make her happy. He is not successful in doing this. Many people, in my opinion, are often trying to get the attention/approval/praise that they seem hungry for. I honestly see this attitude as a thirst/hunger. Eating is a necessity and from what Ive seen, the depth in which people will go to get the approval of others is substansial. If/when these people dont get the approval of others, much like Jay Gatsby, they get depressed. Once Gatsby got depressed about losing Daisy, he turned to money to try to make himself happy. Like many other people who are smuggling money seems to be the pathway to happiness, but as we found out with Mr. Gatsby money certainly does not buy happiness. after Gatsby realizes he lost Daisy for a second time, I believe thats the turning point of his depression, after Daisy is gone, he doesnt have another purpose in his life. All the time he had to spend in his life, he spent on trying to get Daisy to love him. Since he is unsuccessful, he believes he has no self worth and no real reason to live, so I believe his death was a direct result of this. Mental health is a big topic of general interest in todays society, especially within the teen population. approximately 20% of teenagers experience or have experienced depression and its symptoms by the time they reach 20. This has a great effect on more than just that twenty percent of people. There are many people that have to help these people struggling with depression get through their struggles every day. I am personally not affected by depression, but I have several friends that turn to me when they need help. The idea of helping others through their struggles is one of the more prominent things that I think about on a daily basis. I believe there are people my age that dont know the true causation of depression and truly dont comprehend what kind of effect depression has on people. Because of this people are underestimating the power depression has on people. I have personally felt the effects of depression through the loss of my brothers best friend. He took his own life because he felt like his voice was being unheard. This is not an uncommon thought through this age of injustice and political griping. This is an age where political candidates are more worried about exploiting every single blemish of someones life, rather than the topics that actually concern the people that are voting for them such as mental health. Although Im not saying everyone isnt caring or understanding. But I have seen enough comments and sayings that I know that there is enough of a problem looming around this topic that there is something that needs to be done about mental health among the human population in general, but specifically the teenage population. If politicians and the general public focused more on stabilizing the overarching problem/epidemic of mental health issues, I believe the USA and the earth overall would be much better place.

Business Dissertations - Entrepreneurship Opportunity Economic - Free Essay Example

Sample details Pages: 14 Words: 4261 Downloads: 1 Date added: 2017/06/26 Category Statistics Essay Did you like this example? Entrepreneurship: Considering A Small Business As An Alternative Entrepreneurship creates a new field of business, despite risks and uncertainty. To achieve profit and growth, a business must identify crucial opportunities and assemble the necessary resources to capitalize on them. Most forms of entrepreneurship are small scale businesses which begin targeting a specific class of customers. Entrepreneurship business has a bright vision according to the report by many studies. Starting business might be an opportunity for people who have been the unemployed, caused by economic recession. There are two important factors to keep creativity which is the ability to develop new ideas and to discover new ways of looking at problems and opportunities. Next innovation is the ability to apply creative solutions to problems and opportunities while enhancing or enriching peoples lives. Don’t waste time! Our writers will create an original "Business Dissertations Entrepreneurship Opportunity Economic" essay for you Create order Furthermore, the three steps to implement creativity and innovation are developing a strategic plan for a business using the nine steps in the strategic planning process, and building a marketing plan, pricing strategies, financial plan, and cash flow management. These will be necessary for a small business to be successful as well as a harmony with considering the opposite side opinions. Background of Current Economic Situation The condition of global economy is in the recession and that is evidence through various economic figures like the GDP, the rate of unemployment, crisis of subprime mortgage which is a huge economic crisis to intimidate the base of economy system caused by deficit of real estate by overestimation (Oshinsky, J., Fleishman, B., Murray, J., Fields, J., 2007). Aggregate supply which is a total amount of producing by companies in a country, and aggregate demand which is a total amount of consuming by customers in a country are getting to decrease (Vogel Jr., J., 2007). Especially unemployment rate influences the real living quality of people. The more the unemployment rate increases, the worse the quality of peoples living is. Moreover, the social instability is caused by the high rate of unemployment (Barrell, R. Holland, D., 2008). Considering Entrepreneurship as a Solution In this situation, the establishment of a small business and entrepreneurship is one of the solutions to decrease financial crisis such as a high rate of unemployment and deduction of the GDP. This will provide not only the opportunity to recover the loss of many unemployed workers and the GDP, but also create many jobs and products caused by new entry of small businesses. Furthermore, there are many other reasons to support entrepreneurship as a good alternative to solve the recession (Patterson, S., 1993). Common people still regard establishing a business as a risky challenge that could lead to big failure. It is usual that one who does not have confidence in his or her success might avoid establishing his or her own business. But, if there is a unique idea to be applied in a new business, and it is certain that a competitive business strategy plan and solid management could be settled based on thorough analysis regarding the new market, the result of small business would not be risky, and could make an amazing profit. Of course, maintaining a study for corresponding customers feedback and avoiding any potential drawbacks is an essential requirement for the success of small business (Carmona, J., 2008). The Positive Aspects of Entrepreneurship First of all, there are reasons why the entrepreneurship will be appropriate for recovering and restarting a career in the period of recent recession in two points of view. In a viewpoint of the individual entrepreneur, the entrepreneurship will be a chance to create your own destiny after resigning from your former profession. Owning a business provides entrepreneurs the independence and the opportunity to make their desire a reality. It is certain that the result of managing businesses should be required to their responsibilities if their businesses are successful or not. The small business will be an opportunity to make a difference because they see a chance to make a difference in a cause that is important to them. The entrepreneurs are always looking for ways to combine their concerns for social issues and their desires to earn a good living. Moreover, the entrepreneurs businesses become their instrument for self-expression and self-actualization. Their businesses are exciting and challenging for them. The entrepreneurs usually enjoy their businesses as their hobbies, not a work. Their success of businesses depends on their ability regarding how much they are creative, enthusiastic, and vision will be imposed from their potential capacity (Klein, K., 2008). Besides, the entrepreneurship will be a good opportunity to earn impressive profits. Many of them do become wealthy. For example, nearly 75 percent of those on the Forbes list of the 400 richest Americans are first generation entrepreneurs. According to research by Thomas Stanley and William Danko, self-employed business owners make up two thirds of American millionaires. Furthermore, small business owners are generally among the most respected and most trusted members of their communities. Business deals based on trust and mutual respect are the guarantees of many established small companies. These owners are proud of the trust and recognition they receive from the customers they have served faithfully over the years. A study by the National Federation of Independent Businesses found that seventy eight percent of Americans believe that small businesses exerts a positive influence on the countrys direction, a ranking exceeded only by science and technology (Zimmerer T. W. Scarborough N. M., 2008). Most advantage of the entrepreneurship is that owners of small businesses can make their hobbies their work, and they can enjoy their work with great interest and fun. Even though their business is not successful, they can satisfy just their working process because they have a business they enjoy and love (Shah, A., 2007). In a viewpoint of the contribution to society of the entrepreneurship, not only small companies lead the way in creating jobs, but they also take the brunt of training workers for them. One study by the Small Business Administration concluded that small businesses are the leaders in offering training and advancement opportunities to workers. Small companies offer more general skill instruction and training than larger ones, and their employees receive more benefits from the training than do those in larger firms. Even though their training programs tend to be informal, in-house, and onthejob, small companies teach employees valuable skills, from written communication to computer literacy. Small businesses also produce fifty one percent of the countrys private GDP (Gross Domestic Product) and account for forty seven percent of business sales. In fact, the US small business sector is the worlds third largest economy, trailing only the entire US economy and China. Small companies also are incubators of new ideas, products, and services. Small firms actually create thirteen to fourteen times more innovations per research employee than large companies. Traditionally small businesses have played a role in innovation and they continue to do so today. Many important inventions trace their roots to an entrepreneur, including the zipper, FM radio, the laser, air conditioning, the escalator, the light bulb, the personal computer, and the automatic transmission (Stottlemyer, T., 2008). Likewise, the entrepreneurship business has a positive vision based on above facts. If the entrepreneurs want to make their business successful, they need a good plan to differentiate their business from other businesses. Thus, creativity about their business should be represented as one of the main factors of success. Creativity is not only an important source for building a competitive advantage, but it also is a necessity especially for survival of small business. Small businesses relatively have disadvantages for the high cost to produce goods and services, and narrow selling channels compared with big companies. Therefore, creativity is a very important part to motivate the company, making it more competitive in the market. Creative ideas would not be easy to be caught, thus should be found after the creative process which involves seven steps (Spence, R., 2006). Preparing for Entrepreneurship The first step is the preparation that includes a formal education, on the job training, work experience, and taking advantage of other learning opportunities. These ways can provide a foundation on which to build creativity and innovation. For instance, the adaptation of attitudes of a lifelong student will assist owners of small businesses to establish and manage their businesses. Every situation you meet will be an opportunity to learn about the business. Reading many writings even if it is not in your field of profession, will be a source of creativity and innovation which are frequently originated from blended ideas and concepts in various fields of different expertise. In addition, gathering articles related to your small business should be the great guide book to bring the information from which to draw ideas and inspirations. Furthermore, joining professional and trade associations and attending their meetings will be a chance to brainstorm with others who have similar interests. You can learn how others solved specific problems, which will give you new insight to solve your problems of business. Besides, there are practical plans to prepare for creativity like investing time in studying other countries and their cultures. This offers incredible business opportunities for entrepreneurs with necessary knowledge and experience by your global experiences. The second step is the investigation which requires one to develop a solid understanding of the problem, situation, or decision. To create new ideas and concepts in a particular field, an individual must first study the problem and understand its basic components. Creative thinking comes about when people make careful observations of the world around them and then investigate the way things work (Zimmerer T. W. Scarborough N. M., 2008). The third step is the transformation which involves viewing the similarities and the differences among the information collected. This phase requires two types of thinking: convergent and divergent. Convergent thinking is the ability to see the similarities and the connections among various and often diverse data and events. Divergent thinking is the ability to see the differences among various data and events (Zimmerer T. W. Scarborough N. M., 2008). The fourth step is the incubation which is concerned about the time of subconscious needs to reflect on the information collected. To an observer, this phase of the creative process would be quite boring; it looks as though nothing is happening. In fact, during this phase, it may appear that the creative person is loafing. Incubation occurs while the individual is away from the problem, often engaging in some totally unrelated activity. Working on the problem or opportunity in a different environment helps stimulate your creativity (Zimmerer T. W. Scarborough N. M., 2008). The fifth step is the illumination which occurs at some point during the incubation stage when a spontaneous breakthrough causes the light bulb to go on. In the illumination stage, all of the previous stages come together to produce the Eureka factor- the creation of the innovate idea. In one study of two hundred scientists, eighty percent said that at least once a solution to a problem had just popped into their heads- usually when they were away from the problems (Zimmerer T. W. Scarborough N. M., 2008). The sixth step is the verification. For entrepreneurs, proving an idea as accurate and useful may include conducting experiments, running simulations, test marketing a product or service, establishing small scale pilot programs, building prototypes, and engaging in many other activities designed to verify that the new idea will work and is practical to implement. The goal is to subject the innovative idea to the test of cold and hard reality (Zimmerer T. W. Scarborough N. M., 2008). The seventh step is the implementation. The main purpose of this step is to transform the idea into reality. Many people come up with creative ideas in order to promise new products or services, but most never take them beyond the idea stage. What sets entrepreneurs apart is that they act in their ideas. An entrepreneurs final goal is to make their innovative ideas in the reality successfully (Zimmerer T. W. Scarborough N. M., 2008). Designing a Competitive Business Model After establishing creative ideas which are differentiated from other competitors, entrepreneur needs to design a competitive business model. Obviously the number of strategies from which the small business owner can choose is enormous. But, there are three basic strategies remain permanently. First one is cost leadership. A company pursuing a cost leadership strategy strives to be the lowest cost producer relative to its competitors in the industry. Low cost leaders have a competitive advantage in reaching buyers whose main purchase criterion is price. They have the power to set the industrys price floor. This strategy works well when buyers are sensitive to price changes, when competing firms sell the same products and compete on the basis of the price , and when companies can benefit from economies of scale. Not only is a low cost leader in the best position to define itself in a price war, but it also can use its power to attack competitors with the lowest price in the market. Next is the differentiation. A company following a differentiation strategy seeks to build customer loyalty by positioning its goods and services in a unique or different fashion. That enables the business to command higher price for its products or services than competitors. The key of differentiation is to be special at something that is important to the customers. In other word, a business strives to be better than its competitors at something customers value. Last one is the focus strategy which recognizes that not all markets are homogeneous. In fact, there are many different customer segments, each having different needs, wants, and characteristics. The principal idea of the focus strategy is to select one or more market segments, identify customers special needs, wants, and interests, and approach them with a good or service designed to excel in meeting these needs, wants, and interests. Focus strategies build on the differences among market segments. Fro instance, most markets contains a population of customers who are willing and able to pay for the premium goods and services, giving small companies the opportunity to follow a focus strategy aimed at the premium segment of the market. Strategic Management Entrepreneur should plan the strategic management process. Generally small companies that lack clear strategies may achieve some success in the short run, but as soon as competitive conditions stiffen or an unanticipated threat arises, they usually hit the wall and fold. Without a basis for differentiating itself from a pack of similar competitors, the best a company can hope for is mediocrity in the marketplace. In todays intensely competitive global environment, entrepreneurs who are not thinking and acting strategically are putting their businesses at risk. Strategic management is the mechanism for operating successfully in a chaotic competitive environment. The goal of developing a strategic plan is to create for the small company a competitive advantage which is the aggregation of factors that sets the small business apart from its competitors and gives it a unique position in the market. Every small firm must establish a plan for creating a unique image in the minds of its potential customers. A company builds a competitive edge on its core competencies, which are a unique set of capabilities that a company develops in key operational areas, such as quality, service, innovation, team building, flexibility, responsibilities, and others, that allow it to get over past competitors. They are what the company does best and are the focal point of the strategy. This step must identify target market segments and determine how to position the firm in those markets. Entrepreneurs must identify some way to differentiate their companies from competitors. The initiate step of developing a strategic plan is that developing a clear vision and translating it into a meaningful mission statement. Highly successful entrepreneurs are able to communicate their vision to those around them. The firms mission statement answers the first question as what business am I in? The mission statement sets the tone for the entire company. The second step is assessing the companys strengths and weaknesses. Strengths are positive internal factors; weaknesses are negative internal factors. The third step is scanning the environment for significant opportunities and threats facing the business. Opportunities are positive external options; threats are negative external forces. The fourth step is identifying the key factors for success in the business. In every business, key factors that determine the success of the firms in it, and so they must be an integral part of a companys strategy. Key success factors are relationships between a controllable variable and a critical factor influencing the firms ability to compete in the market. The fifth step is that analyzing the competition. Business owners should know their competitors business almost as well as they know their own business. A competitive profile matrix is a helpful tool for analyzing competitors strengths and weaknesses (Shah, A., 2007). The sixth step is to create company goals and objectives. Goals are the broad, long-range attributes that the firm seeks to accomplish. Objectives are quantifiable and more precise; they should be specific, measurable, assignable, realistic, timely, and written down. The process works best when managers and employees are actively involved. The seventh step is to formulate strategic options and select the appropriate strategies. A strategy is the game plan the firm plans to use to achieve its objectives and mission. It must center on establishing for the firm the key success factors identified earlier. The eighth step to translate strategic plans into action plans. No strategic plan is complete until the owner puts it into action. The last step is to establish accurate controls. Actual performance rarely matches plans exactly. Operating data from the business assembled into a comprehensive scorecard serve as an important guidepost for determining how effective a companys strategy is. This information is especially helpful when plotting future strategies (Shah, A., 2007). Marketing Strategy After that, building a marketing plan is necessary for entrepreneurs to act their managing strategies in reality, which is the process of creating and delivering to customers including all of activities related to winning and retaining loyal customers. Thus, marketing plan focus on the companys target customers and how to satisfy their needs and wants. Solid marketing plan should determine customer needs and wants through market research, and pinpoint the specific target markets the company will serve. Furthermore, after analyzing the firms competitive advantages and building a marketing strategy, entrepreneurs should create a marketing mix for their customers (Spence, R., 2006). Entrepreneurs should understand where in their customers product life cycle lately. They also focus on choosing the appropriate channel and place of distribution and using it efficiently. Setting the right price for their products or services is pretty hard because this work need to utilize the statistic data and catch the emotion of customers regarding their products. At the end of marketing strategy, owners of small businesses should develop a promotion for their products including advertising, personal selling, creating events, and guerilla marketing that is a kind of marketing promotions focused on emphasizing unique comparative advantages relative to other competitors (Spence, R., 2006). Opposite Side Opinion People who have opposite opinions against entrepreneurship point out ten potential risks. First is management mistake that is the primary cause of business failure. Sometimes the owner of a small business lacks the leadership ability, sound judgment, and knowledge necessary to make the business work. Second is lack of business experience which indicates that most entrepreneurs tend to be beginners to be easy to make management mistakes in their own businesses. Third one is poor financial control. Effective managers realize that any successful business venture requires proper financial control. Business success also requires having a sufficient amount of capital on hand at start-up. Undercapitalization is a common cause of business failure because companies run out of capital before they are able to generate positive cash flow. Entrepreneurs tend to be overly optimistic and often misjudge the financial requirements of going into business (US Recession Would Hurt, 2008). Fourth one is weak marketing efforts that means entrepreneurs tend to misunderstand the marketing efforts. For example, owners of small businesses usually believe their businesses will make a great number of customers automatically, but it almost never happens in reality. Building a growing base of customers requires a sustained and creative marketing effort. Keeping customers coming back requires providing customers with value, quality, convenience, service, and fun. Fifth thing is failure to develop a strategic plan. Many small business managers ignore the process of strategic planning because they think that is something that benefits only large companies. Without a good defined strategy, a business has no sustainable basis for creating and maintaining a competitive edge in the marketplace. Establishing a strategic plan drives entrepreneurs to assess realistically a proposed businesss potential. Sixth thing is uncontrolled growth. Business growth is a natural, healthy, and desirable part of any business, but it must be planned and controlled. As the business increases in size and complexity, problems increase in magnitude, and the entrepreneur must learn to deal with them. Seventh thing is poor location. Business location are often selected without proper study, investigation, and planning. Some beginning owners select a particular location just because they found a vacant building. The sales business should be influenced heavily by choice of location. Eighth is improper inventory control. Insufficient inventory control results in shortages and stockouts, causing customers to become disillusioned and leave. More common situation is that the manager has not only too much inventory, but also too much of wrong type of inventory (Zimmerer T. W. Scarborough N. M., 2008). Ninth is incorrect pricing. Small business owners usually underprice their products and services for making strong competition. Establishing accurate prices is to know what a product or service costs to make or to provide. Then, business owners can establish prices that reflect the image they want to make for their companies with an observation on the competition. Tenth is inability to make the Entrepreneurial Transition. After the start up, growth usually requires a radically different style of management, one that entrepreneurs are not necessarily good at. Growth requires entrepreneurs to delegate authority and to relinquish hands-on control of daily operations, something many entrepreneurs simply can not do (Zimmerer T. W. Scarborough N. M., 2008). Suggestions for solving opposite side Entrepreneurs must know their business field in depth. Small business owners should get the best education in their business area before they set out on their own business. Small business managers have to become serious students of their industry to analyze and examine their industry for their success. Reading trade journals, business periodicals, books, and research reports related to their industry, which can guide entrepreneurs to the success. Moreover, personal contact with suppliers, customers, trade associations in the same industry is another excellent way to get that knowledge. Small business owners should develop a solid business plan that is a crucial ingredient in preparing for business success. Well written and planned business plan not only provide a pathway to success, but it also creates a benchmark against which an entrepreneur can measure actual company performance. This planning process drives entrepreneurs to ask and answer some difficult, challenging, and crucial questions. Managing financial resources is also essential part for entrepreneurs to run their business successfully. The best defense against financial problems is to develop a practical information system and then use this information to make business decisions. The first step in managing financial resources effectively is to have adequate start up capital. Estimating initial capital as much double as entrepreneurs expect will be good for starting a business because many costs that entrepreneurs do not expect will come out at the beginning time. The most valuable financial resource is cash. Even though earning a profit is essential to its long term survival, a business must have an appropriate supply of cash to pay its bills and obligations. Managing cash is one of entrepreneurs primary abilities to maintain their business. Owners in small businesses have to understand financial statements what is going on in the business. These financial statements are reliable indicators of small businesses health. They can be helpful in realizing potential problems like declining sales, slipping profits, rising debt, and deteriorating working capital that are symptoms of potentially critical problems which require immediate attention. No matter what kind of business entrepreneurs launch, entrepreneurs must learn to manage people. Every business depends on the foundation of well trained, motivated employees. Business owner can not do everything alone. In the end, most dominant sustainable resource is the good quality of the people entrepreneurs have. Starting business is like running a marathon. If entrepreneurs are not physically and mentally prepared, entrepreneurs had better do something different. The success of business depends on entrepreneurs constant presence and attention. It is critical to monitor a business condition constantly. Also successful entrepreneurs recognize that their most valuable asset of their time, and they learn to manage it effectively to make themselves and their companies more productive. Conclusion Entrepreneurship is not ultimate solution for solving recession, but it can be one of primary alternatives to help people come out of economic recession. Although there are risks to start a business, entrepreneurship have many advantages to be valuable for challenging new industry. For instance, good opportunity to earn impressive profits, making hobbies main work, and the contribution to society is representative advantages of entrepreneurship. Therefore, considering the opposite opinions, building solid managing strategy and marketing plan, maintaining a study for corresponding customers feedback must make entrepreneurship successfully.