The European sovereign debt crisis Essay Example | Topics and Well Written Essays - 2000 words

The European sovereign debt crisis - Essay Example in the minds of many is how the financial debt crisis of the few countries could have caused such a global debt scare, yet those countries are not even the major economies of the Euro Zone. Thus, this discussion seeks to analyze how the financial debt crisis that started with the few countries eventually affected the whole of the Euro zone. The analysis will focus on two major areas of the financial markets; the bond markets and the foreign exchange, as the notable areas affected by the debt crisis. In this respect, the contagion process of the debt crisis from the few countries to the whole of the Euro zone will be analyzed. Greece is the major player as far as the European sovereign debt crisis is concerned, considering the fact that it is only when the sovereign debt crisis of Greece came to the fore that the real financial crisis facing the Euro zone started being considered. By the turn on the 20th century, Greece was one of the first growing economies in Europe (Fouskas, 27). However, the financial crisis of 2007/08 affected Greece notably, because its economy was dependent on tourism and exports, which slowed down as a result of the financial crisis, thus slowing down the economic growth in the country. To address this slow-down, the Greece government increased its spending in the economy, which in turn increased its sovereign debts (Fouskas, 132). The increased sovereign debt of Greece meant that the country’s budget deficit was increasingly becoming higher, compared to the country’s GDP. This effectively increased the borrowing rates of the country, which rose to a point where it b ecame clear that the country would no longer be able to borrow from the internal markets, while at the same time indicating a high possibility of sovereign debt default (Armingeon and Kai, 424). In reaction to the high sovereign default risk by Greece, the credit rating of Greece was downgraded to junk status, also known as the BB+, which effectively meant that the

Business model Assignment Example | Topics and Well Written Essays - 1000 words

Business model - Assignment Example The company is one that focuses to make games that are easy to learn and still maintain the fun element. The company has differentiated the way it looks at the gaming market from its competitors. The company is focussing on providing gaming that is fun and easy to children and adults alike. There has also been an effort to incorporate both male and female players into the gaming experience The main point of focus with Nintendo games is in the simplicity of their products. The product’s simplicity can be looked at in two ways. On the one hand you have the devices that have few buttons for their operation, a good example is the Wii console. Despite this they are able to give the customer an experience like no other when it comes to gaming. Secondly the games that they offer to their clients are simple in terms of game play. These are usually easy to play. The company has been able to differentiate itself from the industry norm of only appealing to a few devoted gamers. It has been able to do this through offerings of consoles such as the lately released Wii which has beaten rivals in the gaming console market (Torres, 2013) The company has tried to ensure that it markets and delivers its products in a way that saves both on cost as well as delivery times for the products that they offer. It has therefore taken the approach of using already established retailers to bring their products to market in the different regions of the world. Such retailers include partnerships with the likes of Amazon that guarantee as U.S. wide presence for the company. This leaves the online store that they maintain to service only replacement parts for their products. The one thing that the company has invested heavily in is ensuring that they utilize the feedback that they get from consumers. On the one hand the company has heavily invested in ensuring that this information is shared

Entrepreneurs of Small Enterprises in the UK

Entrepreneurs of Small Enterprises in the UK Liquidity problem is an important strategic issue to run business enterprises. Small enterprises are realising the importance of such problems to reduce losses arises from this. Liquidity problems arise from shortage of working capital that require to maintain daily operations of the enterprise. If this problem persists for long-time, entrepreneurs are bound to stop their business. But it is difficult for small enterprises to get right support at the right time from banks and insurance companies due to certain terms and conditions imposed by them. So a study in this field will be helpful for both entrepreneurs and financial institutions to know current scenario of enterprise level management of liquidity problems and the role of financial institutions to solve this problem. Intelligent forecasting of the future trend in market conditions is a preventive measure to solve liquidity problem whereas, bank support through different financial products is a curative measure in management of liquidity problem. This study has been initiated to identify and analyse entrepreneurs view towards liquidity problems of small enterprises and role of bank to solve this problem. Categorically the major objectives of the present study are: To identify various reasons of liquidity problems of small enterprises; To uncover the views of entrepreneurs regarding the research topic in light of their age, education, invested amount of capital, enterprise life, location and nature of business; To assess the risks identified by the entrepreneurs arises from liquidity problems of their enterprises; To identify and analyze the role of bank in terms of available financial products to manage liquidity problems; To suggest probable solutions to solve liquidity problems of small enterprises. Hypothesis: H 1: There is no impact of small enterprises length of life on the size of liquidity problems. H 2: Amount of investment has no influence on liquidity problems. H 3: Nature of business has no impact on liquidity problems. H 4: Banks facilities are enough to solve liquidity problems of small enterprises. 7. Sources: Broad Subject Area: Business Finance Books and Journals: Alsbury, A. (2001), Quick Answers to Small Business Questions, Series Editor Jay, Prentice Hall, London. Allen, F. and Gale, D. (2007) Understanding Financial Crisis. Oxford: Oxford University Press. Bygrave, W. D. (1994), The entrepreneurship paradigm 1: a philosophical look at its research methodologies, Entrepreneurship theory and practice, Vol. 14, No. 1, pp 1- 26. Bhaduri, R., G. Meissner and J. Youn (2007). Hedging Liquidity Risk. Journal of Alternative Investments, Winter 2007. Cecchetti, S. (2008), Monetary Policy and the Financial Crisis of 2007 à ¢Ã¢â€š ¬Ã¢â‚¬Å" 2008. Available at: http://fmwww.bc.edu/ec-j/sems2008/Cecchetti.pdf [Accessed: 11 November 2008]. Cohen, W. (2005), The entrepreneur and small business problem solver, 3rd edition, Published by John Wiley and Sons. Dawson, J., Findlay, A. and Sparks, L. (2006) The Retailing Reader. London: Routledge. John L. Knight, Stephen Satchell (2003). Forecasting Volatility in the Financial Markets. Butterworth-Heinemann. Dorfman, Mark S. (2007). Introduction to Risk Management and Insurance (9th Edition). Englewood Cliffs, N.J: Prentice Hall. Douglas Hubbard (2009) The Failure of Risk Management: Why Its Broken and How to Fix It John Wiley Sons. Hisrich D. R. Peters P. M., (2002) Entrepreneurship, 5th edition, Pub., Tata McGraw-Hill. Hawkins, M. (2008) How to Benefit From Consumer Behaviour During a Financial Crisis. EzineArticles. Available at: http://ezinearticles.com/How-to-Benefit-From. Hannon, P.D. and Atherton, A. (1998), Small firm success and the art of orienteering: the value of plans, planning and strategic awareness in the competitive small firm, Journal of Small Business and Enterprise Development, Vol. 5 No. 2, pp. 102-19. Islam N. Mamun Z. M., (2002) Entrepreneurship Development, An Operational Approach, Pub., The University Press Limited,. Leaf, W. and Sykes, E. (2009), Banking, 3rd edition, T butterworth Ltd. McConnell I. (2009), Economic output posts biggest quarterly decline since 1980, The Herald (Glasgow), January 24th Issue, Final Edition, p. 26. Simpson, M et al. (2006), marketing in small and medium size enterprises, International Journal of entrepreneurial behaviour and research, Vol. 12, Issue-6, pp 361-387. Available at:www.emeraldinsight.com [Accessed: 15 November 2009] Stoltz A, Viljoen M (2007) Financial Management: Fresh Perspectives, Published by Pearson South Africa. Websites: Small business banking, (2009) available at http://www.bytestart.co.uk/content/banking/banking-guides/business-banking-the-basics.shtml, [Accessed: 15 th November 2009] Office for National Statistics (2008), Unemployment rates rises to 5,7%.. Available at: www.statistics.gov.uk [Accessed 14th November 2009]. Number of enterprises, employment and turnover by number of employees and industry division, UK, start 2004, Available at www.statistics.gov.uk [Accessed: 14th November 2009] HSBC and Barclays news, , 10th November 2009, Available at: www.news.bbc.co.uk, [Accessed 12th November 2009] SME Academy London [online] Available at: http://www.smeacademy.co.uk/, [Accessed 13 November 2009] Banks Websites: www.barclays.co.uk www.hsbc.co.uk www.natwest.com www.lloydstsbbusiness.com 8. Literature Review: The economic recession that hit the UK in the second half of 2008 caused the retail industry to experience certain difficulties (McConnell, 2009; Kollewe, 2009). The credit crunch and growing unemployment reduced consumer income and spending levels and causes uncertain flow of cash for business enterprises. In such conditions, small enterprises are experiencing irregular cash flows, look at the cost cutting strategy, excessive burden of debt, reduction of buyers and uncertain profit margins or losses. As a result shortage of short term capital creates liquidity problems to small enterprises. In business, liquidity refers to the financial ability of an enterprise to meet its short term obligations to bear day to day expenditures. The liquidity of retail sector specially small enterprises are greatly affected by macroeconomic factors. These factors are divided into two: direct and indirect factors. The direct factors can be recognised as the decreasing disposable income, job insecurity and credit financing hurdles (Office for National Statistics, 2008). The indirect factors are challenges of credit financing and investment capability which commercial organisations face and which make these organisations unable to continue with producing high quality products and customer service (The Economist, 2008). Other macroeconomic factors that are related with small enterprises financial crisis are house price, house rent, and employment rate, and inflation rate, availability of bank loan, interest rates and changes of consumers behaviour. Storey [1994] notes that small firms, however they are defined, constitute the bulk of enterprises in all economies in the world. In the latter half of the last century the increasing important roles of small firms and entrepreneurship cannot be in any way understated [Bygrave 1994; Timmons 1994;]. Small firms are now a complex subject matter of research because of its huge number of limitations. These features of small enterprises are supported by Robinson and Pearce [1984] who focused on the issue of resource limitations of small firms. These limitations are best summarised by Carson and Cromie [1989] who suggest that small firm is actually characterised by three types of limitations, those of: their impact on markets; finance; physical resources; It is obvious that among these three limitations, finance is one of the most important one what is equally important for promoting products and services of small enterprises in the markets and acquiring physical resources. But undoubtedly these three limitations are in a cycle and interdependent. Liquidity problem is not only the result of shortage of fund, this problem is the consequences of other two limitations too. Definition of small enterprises of European Commission Enterprise and Industry [europa.eu] refers to maximum number of employees are 49 and maximum annual turnover is 7million Euro for small enterprises. As per EU definition, there are 4,267,555 small enterprises in UK where 11,441,000 employments exist [UK Bureau of Statistics: Start 2004]. It is undoubtedly important to find out immediately the problems of such a large sector and solutions of the problems. As noted by Hill and McGowan (1999), there is no agreed definition or clear understanding, in view of the large literature that exists, of who the entrepreneur is or what it is they do. Entrepreneurship is probably best understood as a process, the constituents of which are the entrepreneur, their persistent search of opportunities, usually grounded in the market place, and efforts to marshal the resources needed to exploit these opportunities; hence the concept of the entrepreneurial SME (Hill and Wright, 2001). How entrepreneurship is vital and important for small enterprises? Hill and McGowan (1999) answer this question by adding that, without entrepreneurial commitment, determination, vision, energy, tolerance of risk, and ambition, the entrepreneurial process in small and medium enterprises would not happen. Entrepreneurs making decision in various circumstances must be sure to learn as much as possible about the situation, and approach the decision from a logical and rational p erspectives (Ricky W. Griffin, 2002). The financial crisis, which transmitted internationally and caused disturbances in a wide range of powerful economies, many countries are seen to be on the brink of recession if not already plunged into it (Deutche Welle, 2008). Todays financial crisis what causes liquidity problems of business enterprises could be recognised as a major challenge for the survival of millions of small enterprises. The wide scope of the crisis caused a downturn in many industries, the bankruptcy of leading organisations and overall economic recession to countries like the UK, Germany and France (Deutche Welle, 2008; Hopkins, 2008; Office for National Statistics, 2008). Many EU countries including UK experienced the shock in their banking sectors as the provision of credit financing became a great challenge. Banks were suffering from lack of liquidity, which caused both business and non-business consumers financial hardships (The Economist, 2008). Though few banks like HSBC and Barclays [BBC, November 2 009] claimed that they are now in profit with enough liquidity to lend, most of the banks are in problem. Bank has short term and long term loan facilities, mortgage facilities, interest free bank overdraft facilities for small business enterprises [Small business banking, 2009]. There is a well-known idea that such facilities for small enterprises are very limited and process is very complex. Though various researchers carried out so many research to find out various factors that have direct and indirect impact on operations of small enterprises, relationship between entrepreneurship and small enterprises, buyers behaviour, marketing strategies, family and non-family business trends in this sector, there is still gap in research regarding liquidity problems and role of bank to solve this problem in terms of entrepreneurs perspective. Specially at the time of current economic down town there is a necessity of new research in the mentioned field. 9. Intended Methods of Data Collection: Assumptions of the study: Small enterprise: This study considers EU [maximum employee: 49] definition to select small enterprises. Scope and limitations of the Study: The study will focus on randomly selected 40 small enterprises of different sectors like hospitality, grocery, fashion and stationary from UK (London Area: Zone 1-4). Since the study will cover only the mentioned area, it will not reflect the exact UK scenario as a whole about the research. Data Collection Procedures: The proposed study is an empirical one. Both primary and secondary data will be used during the study. For collection of primary data self completed questionnaire will be used to collect information from entrepreneurs and executives of business enterprises. Observations and interview will be conducted in several cases to confirm more authentic information from the entrepreneurs. Secondary data will be collected from available literatures in form of books, journal, magazines, published materials, research articles, and online materials. To identify available financial products of banks to solve liquidity problems of small enterprises, banks websites will be used as a source of data and information. The researcher will also call the respondent to ensure timely feedback about questionnaire. In case of necessity, personal contacts will be used to support the research process. Methods of Data Analysis: Some parametric and non-parametric tools and techniques of statistics (like average, percentage, test of hypothesis, sampling distribution, etc); will be used to analyze data and information related with the study.

The History Of The Modem :: Technology History

The modem, which is an acronym for modulator/demodulator, was invented in the 1950's for military use. Manufactured by the now popular computer company, IBM, modems were used as part of an air-defense system; their purpose was to connect various airbases and control centers. Modems are devices that mix (modulate) and separate (demodulate) signals, allowing one computer to connect to another. They transfer the data over telephone lines by using analog waves and the modem then converts the waves back and forth. The first modems were designed to hold a telephone's receiver in a cradle and had wire connections that went from the cradles to the computer. Today, most modems are either internal or external hardware devices. Before the computer modem, there was the com-port. When an internal modem card is placed inside of a computer, it behaves as a COM2 or COM3 port. It is also possible connect serial mice into one of these ports (Gilbert, 1996). Asynchronous communication is used in the PC COM port. Each byte of data is a separate unit and the computer that is sending the data can pause between any two bytes of the message. However, the receiver of the message may have to catch the data as quickly as it arrives. This is done by the "a synch" data requiring one extra bit worth of time to announce the new byte's beginning and once extra bit worth of time at the end. This is what is known as the "start" and "stop" bits. This means that a 2400 baud modem could transfer only 240 bytes of data per second. Each byte would require a minimum of 10-bit times. This was once called "start-stop" communication, but asynchronous (a sync, for short) is the name (Gilbert, 1995). The modem does not start and stop the bits. They are actually put out as part of the general data compression. The start and stop bits continue to be generated on the wire that connects a COM port to an external modem. The modem COM port is generally configured to use a higher speed between the modem and the COM port than what the actual transmission will support. A modem may operate at 14,400-kbps with the COM port configured for 38,400-kbps. This is an example of older technology being adapted to meet new requirements (Gilbert, 1995). The History Of The Modem :: Technology History The modem, which is an acronym for modulator/demodulator, was invented in the 1950's for military use. Manufactured by the now popular computer company, IBM, modems were used as part of an air-defense system; their purpose was to connect various airbases and control centers. Modems are devices that mix (modulate) and separate (demodulate) signals, allowing one computer to connect to another. They transfer the data over telephone lines by using analog waves and the modem then converts the waves back and forth. The first modems were designed to hold a telephone's receiver in a cradle and had wire connections that went from the cradles to the computer. Today, most modems are either internal or external hardware devices. Before the computer modem, there was the com-port. When an internal modem card is placed inside of a computer, it behaves as a COM2 or COM3 port. It is also possible connect serial mice into one of these ports (Gilbert, 1996). Asynchronous communication is used in the PC COM port. Each byte of data is a separate unit and the computer that is sending the data can pause between any two bytes of the message. However, the receiver of the message may have to catch the data as quickly as it arrives. This is done by the "a synch" data requiring one extra bit worth of time to announce the new byte's beginning and once extra bit worth of time at the end. This is what is known as the "start" and "stop" bits. This means that a 2400 baud modem could transfer only 240 bytes of data per second. Each byte would require a minimum of 10-bit times. This was once called "start-stop" communication, but asynchronous (a sync, for short) is the name (Gilbert, 1995). The modem does not start and stop the bits. They are actually put out as part of the general data compression. The start and stop bits continue to be generated on the wire that connects a COM port to an external modem. The modem COM port is generally configured to use a higher speed between the modem and the COM port than what the actual transmission will support. A modem may operate at 14,400-kbps with the COM port configured for 38,400-kbps. This is an example of older technology being adapted to meet new requirements (Gilbert, 1995).

Business communication trends

When I was working in if I had a Job, how this sentence would play into my day-to-day work activities would be is not have conflicts with my other workers, in if there were any conflicts I would try to smooth things out instead of making things worse, you want your coworker's to trust you not let them think you are against them, immunization skills is the best thing anyone can have because instead of someone talking behind your back saying this and that if you have great communication skills at work, conflicts can be handled without words being passed among each other, things can be controlled in a very timely and efficient way.How does it help you manage your daily activities? How it helps me is when I am working on our assignments or ass's, I find myself writing better so that people can understand what I am trying to relay to them I Just have to be careful of my run-on sentences, I still have some improvement on my immunization skills but I am taking it day by day, because I have had some complaints about my writing skills that's why I refer verbally speaking than writing mayday of the week because you don't have to worry about your punctuation of any kind. What trends have you seen in your current or previous workplace?I have not worked in quite a while, but I do use a lot of the communication skills with my schooling, because we have to communicate every week through our assignments as well as our ass's, and if what we are saying don't make sense or they cannot understand it, it means nothing at all, because if your words are not clearly written no one will understand what you are trying to relay to them, because before coming to the university my communication skills were terrible still is but I am hoping to improve hopefully this class will help me learn the right communication skills that I need to know.What message types are results of these trends? The message types consist of different kinds and if they are not used correctly they don't amount to a h ill of beans. The types that I can say can help me are verbal, mails, note taking, and letters.The reason I chose these is because when you are writing notes or letters or even sending emails you need to have great communication skills, without them whomever is reading your messages they want make any sense because communication skills is or can be very important, especially to whom you are writing to and about. Because for one you want your client or whoever you are writing to, to understand what you are writing about not trying to guess on the topic or subject that is being written on or about. No references again:

Inadequate Disposal Of Wastewater In Mauritius Environmental Sciences Essay

It was in 1984 that Mauritius started recognizing that unequal disposal of effluent in Mauritius is going a turning menace to the belowground H2O, the surface H2O resource every bit good as to the Marine and coastal ecosystem ( United Nations 2004 ) . In 1988, the Government of Mauritius ( GOM ) , with the aid of the World Bank, prepared the National Environmental Action Plan ( NEAP ) and was endorsed by the GOM in 1990. In 1992, the sewage Master Plan was developed by the GOM based on the recommendation of the NEAP, which has for aims to suppress a sound effluent direction in the state ( United Nations 2004 ) .1.1 Why H2O is treatedAlthough nature has an astonishing ability to get by with little sums of H2O wastes and pollution, it would be overwhelmed if we did n't handle the 1000000s of gallons of effluent and sewerage produced every twenty-four hours before let go ofing it back to the environment. Wastewater intervention cut down pollutants in effluent to a flat nature can manage . The major purpose of effluent intervention is to take every bit much of the suspended solids as possible before the staying H2O, called wastewater, is discharged back to the environment. As solid stuff decays, it uses up O, which is needed by the workss and animate beings populating in the H2O. Treating effluent therefore helps us to take attention of our environment and our ain wellness. Keeping our H2O clean is an of import precedence for many grounds. ( WMA, 2010 ) 1.2 Purpose of the undertaking: – To transport out a critical rating of the wellness effects on the dwellers populating near the intervention workss in Mauritius. 1.3 Background: – Cognition about intervention works as environmental jeopardies and their wellness impacts is mostly missing in Mauritius and there have been really small study carried out internationally in this subject, therefore earlier surveies have besides been taken as mention.2.0 Literature reappraisal: –In this subdivision, the assorted surveies on wellness issues related to intervention works have been reviewed.2.1 DefinitionsThe definitions below were quoted from the Oxford dictionary eight edition. Health ( Page 543 ) : – ( 1 ) â€Å" The province of being good in organic structure or head † ( 2 ) â€Å" A individual ‘s mental or physical status † ( 3 ) â€Å" Soundness, clairvoyance. fiscal or moral ( the wellness of the state ) † ( 4 ) â€Å" a toast rummy in person ‘s honor † For this undertaking we will see merely the definition 1 and 2. Perception ( page 883 ) : – ( 1 ) â€Å" Capable of comprehending † ( 2 ) â€Å" Reasonable, spoting, observant †2.2 Types of intervention PlantsIn Mauritius there are two types of intervention workss: –( 1 ) Solid waste intervention works. ( 2 ) Wastewater intervention works.2.2.1 Solid waste intervention worksThe Ministry of Local Government and the Rodrigues Regional Assembly are responsible for solid waste direction. Solid waste aggregation is undertaken by the local governments in countries under their legal power and disposed of at the Mare Chicose landfill via a web of transportation Stationss situated at St Martin, Roche Bois, Poudre d'Or and La Brasserie. The transportation Stationss carry out compression of waste prior to their transit to the landfill site. The Mare Chicose landfill, which was originally planned to have 400 metric tons of waste day-to-day, is now having about 1000 metric tons as the Mare D'Australia landfill has non been implemented. Hence, the life span of the disposal site at Mare Chicose has dramatically been reduced from 19 old ages to 8 old ages. Green ( or garden ) waste is estimated to stand for a important portion ( every bit high as 60 per centum ) of collected waste, imparting itself really easy to composting. ( WMA 2009 )2.2.2 Wastewater intervention works.Effluent or sewerage or waste contains polluted stuffs which are suspended, dissolved or left in the environment ( Gobba 2006 ) .If the untreated sewerage is straight discharge to a watercourse, it will do terrible pollution and will show danger to public wellness. Therefore a intervention works is designed to take wastewater that is acceptable to the environment. ( Thorn et al. 2001 )Long-run aims of a intervention worksThe long-run aims of intervention undertaking are to – Prevent the spread of diseases. – Prevent the prevalence of conditions offensive to spy and smell. – Control the taint of H2O resources. – Prevent and control dirt and land H2O pollution. ( Rylander 1999 )2.4 Specific aims of a intervention worksThe specific aims of the intervention undertaking are to: – Establish a reliable intervention works that is cost effectual option to conventional mechanised intervention and disposal installations. ( WMA, 2009 ) Pull off the infective hazard inherent in effluent to run into the wastewater discharge criterions set by Mauritius Ministry of Environment and the MOH & A ; QL. ( WMA, 2009 ) Eliminate or pull off the safe disposal of sludge. ( WMA, 2009 ) Every state generates waste ; municipal, sewerage and risky waste are inevitable by merchandises of the developed and developing states ( Harrison 2003 ) . To revise how intervention works signifiers portion of the immediate environment ( Elliot et al. 2001 ) reported that 80 % of the United Kingdom population lives within 2 kilometers of a pumping station.2.5 Components of intervention workssA intervention procedure is classified into different classs: – ( 1 ) Screening chamber ( 2 ) Imhoff armored combat vehicle ( 3 ) Biological trickling filter ( 4 ) Humus armored combat vehicle ( 5 ) Sludge dry bed ( 6 ) Deposit pool ( 7 ) Leaching field. 2.5.1 Sreening Chamber: – coarse solids are prevented to come in the imhoff armored combat vehicle by the saloon screen. 2.5.2 Imhoff armored combat vehicle: – this armored combat vehicle like a infected armored combat vehicle and has combination of two procedures. Sedimentation takes topographic point in the upper part of the armored combat vehicle and accumulate sludge undergoes anaerobiotic decomposition at the underside. 2.5.3 Biological dribbling filter: – wastewater go forthing the imhoff armored combat vehicle goes into a dosing chamber and so to the biological trickling filter, which consist of extremely permeable media. Presettled wastewater from the dosing armored combat vehicle is equally distributed over the filter bed by revolving distributer and drips down through the bed. The wastewater which comes out, the latter goes to a humus armored combat vehicle. 2.5.4 Humus armored combat vehicle: – wastewater that goes to the humus armored combat vehicle and it is pumped back to the imhoff armored combat vehicle. This procedure is called re-circulation and it improves the operation of the filters. 2.5.5 Sludge drying bed: – the sludge accumulated in the imhoff armored combat vehicle is emptied on drying beds and left to opened air for drying. 2.5.6 Sedimentation pool: – the deposit pool is besides call ripening pool and its major importance in the system is to take infective beings from the wastewater. 2.5.7 Leaching field: – the intervention provided by agencies of subsurface soaking up besides known as leaching field, provides a combination of physical, biological and chemical mechanism which treat the wastewater farther. ( Hammer et al 2001 )2.6 International perceptual experience about sewerage intervention worksA public perceptual experience study on sewerage intervention workss carried out in selected countries in Selangor and Kuala Lumpur by C.P Tso, revealed several interesting and unexpected findings. The general perceptual experience forms sing smell, noise and ocular impact suggest that the sensed strength is a map of clip ( C.P Tso 1990 ) .It was noted that plagues constitute a serious nuisance to which version was non possible ( C.P Tso 1990 ) . The manner a sewerage intervention works is managed has a great influence on the perceptual experience of public ( Narain 2006 ) . A intervention works was inaccurately build in the Republic of Lebanon, where this state of affairs non merely did non do the authorities to lose a batch of money but the public sentiment was on intervention works worsened ( MEFA 2006 ) In India, the state of affairs is more helter-skelter, Delhi has already got 17 sewage intervention workss, which together add up to 40 per cent of the sum installed sewerage intervention capacity in India. But the fact is that these workss remain grossly underutilized. The metropolis does non hold drainage to convey all the body waste to the sewerage intervention workss. It is expensive to construct sewage drainage but even more expensive to keep it. Today, the majority of the metropolis is non connected to belowground drainage. It besides finds that it can ne'er mend plenty. The terminal consequence is that where there is a sewerage intervention works, there is no waste to handle. Yamuna is Delhi ‘s river ; the fact is that Delhi has already spent a immense sum on cleaning the small stretch of the Yamuna which flows through the metropolis. The grounds are the flower and bury mentality of people in Delhi ( Narain 2006 ) .2.6.2 Situation in MauritiusIn Mauritius 25 % of the pop ulation is connected to sewer pipes which goes to a pumping station by the action of gravitation and from at that place, the sewerage are pumped to interventions workss, there, the sewerage are treated and the treated H2O is used for irrigation or is safely dispose in the ocean. WMA is responsible for the sewage substructure and sewerage and intervention installations in Mauritius. 75 % of Mauritanian discharges their effluent in unfastened underside cesspools or infected armored combat vehicles. When these overflow, they hire a vacuum truck to empty them and the wastewater is brought to the intervention works. ( L'express 2009 )2.6.4 Treatment workss in MauritiusIn Mauritius there are 18 intervention workss and 36 pumping station as shown in table 1.0 in Appendix A ( beginning: WMA 2009 )2.7 Sewage disposal – A tabu topicSewage and its disposal have frequently been considered forbidden topics, peculiarly in Asiatic Countries, and therefore necessitate more than merely technology cognition to cover with them efficaciously. Perceptibly, sewerage is considered a forbidden substance because it reveals to adult male a negative side of his being that he would prefer to bury ( Faechemet et al. 1981 ) .2.8 Concern of the common people about sanitationAlthough, long ago, authors like Xoomsai ( 1988 ) and Hamsa ( 1989 ) have pointed out the deficiency of equal sanitation installations in the development states, it is now that common people have started speaking about. The populace are the most of import participants in the sewerage generation-transmission-treatment- disposal rhythm and their positions and attitudes should be considered earnestly ( Kuszmider 1997 ) . The common feeling that the populace ‘s function is merely in the coevals stage of the sewerage rhythm has to be abolished if efficient planning is to be effected. The governments may hold significantly by sing the positions and attitudes of the populace.2.9 Rules and Regulations to be followed before constructing a intervention works.In Mauritius, there are certain regulations and ordinance about edifice of a intervention works.2.9.1 Environmental Impact AssessmentFirst of wholly, an EIA study should be prepared in conformity with the Part IV of the Environmental Protection Act 2003. The undermentioned subdivisions should be considered individually:

Man and the Environment essays

Man and the Environment essays Mankinds effect on the environment has been one of the most controversial social issues in recent years. The environment has constantly been in the forefront in most political debates. There are two sides to every story. Chris Bright says that yes, mankind is dangerously harming the environment. On the other side, Bjorn Lomborg, says the environment is in fact improving, not declining. Im going to be discussing both sides of this issue and then giving my own opinion. Much of the information on development in the 1960s was based on the belief that all of mankind would prosper. It really ignored the strong effects of development on the environment and assumed that the readiness of raw materials would not be a factor. The thinking was that all people working together would get richer because they would be investing in new technologies that would bring more wealth to all. By the end of the 1960s, a marine scientist Rachel Carsons book Silent Spring, had an enormous impact on the public. Her book noticed the loss of birds to pesticides. Her book also made all classes of the population to realize that the pollution affects everyone, not just the rich. Another professor, Paul Ehrlich, was worried about overpopulation being the demise of mankind. He thought that the population was about five times too large, and we were using our resources to not only overpopulate but to also over use our environment. We were poisoning the ecological systems which we were dependent on for all of our food and oxygen. Chris Bright said the world population would double to 8 billion sometime between 2010 and 2020. That means at the same time that the population is growing, people are striving to get richer, which in turn means that they would consume more, pollute more and use up all of our resources. He also thought that humans would disturb the ecological system. One example he used was what happened to Honduras in the...

7 tips to not letting work take over your life

7 tips to not letting work take over your life In this age of leaning in and working whatever hours it takes to get ahead, it can be increasingly easy to forget to take time for yourself. Doing anything but work can actually seem like laziness or self-indulgence- especially when it looks like everyone else is still working furiously while you’ve taken off for the day. However, burnout is real. If you’re not operating at full capacity because you’re mentally and physically exhausted, your work and personal life will suffer. The key is to find a  good balance between your hard work and your outside life. Here are a few strategies on how to do just that.1. Keep one day meeting-free.Lots of companies establish one day a week as â€Å"meeting-free,† where no one is allowed to schedule any kind of mandatory group gathering. If your company doesn’t do this, suggest it to your manager. Setting aside one work day that’s just for you to actually work will do wonders for your productivity. Youâ₠¬â„¢ll get more done during the day and take home less work (and stress) at night.2. Work from home if possible.If telecommuting is an option for you at your job, take advantage of it. If it isn’t yet, have a conversation with your boss. Even one day or half day a week can help keep you grounded and give you that little bit of extra space that keeps you centered.3. Protect your time away from the office.If you do have to take work home, make sure you set strict time limits for yourself, so it doesn’t eat up all of your out-of-office time. Triage the important stuff. Respond only to the most critical emails, then leave the rest for when you’re back at your desk. And unless it’s truly an emergency, try to make it a policy not to respond to work emails at all over the weekends. Your weekend time is your own.4. Fit in exercise.Build this into your work day, with something as simple as a half-hour walk during your lunch break. If that isn’t possible, bu ild an hour or two a week into your weekly routine. Exercise will keep you healthy, sharp, young, and full of endorphins. You can’t really afford not to find the time, so go ahead and make sure you do- your body and your brain will thank you. Taking care of your body takes care of so much else.5. Make family a priority.The people you love and who love you in your life aren’t expendable, and your job should know that. If emergencies come up, show up. Make time to be there for the people that you love as a rule, not as an exception.6. Take vacation.Seriously. Vacation and personal time exist for a reason. Take every day you are allowed. You’re supposed to use these days, and you (and your boss) will be glad you did. Your work and attitude will definitely improve after taking a break.7. Schedule blank time.Instead of scheduling yourself to the gills, from your alarm going off in the morning until bedtime, make sure you block off time in your schedule when you donâ €™t have anything to do- not even family obligations or doctors appointments. Let your brain really an truly relax,  and it will stay sharp and creative.You might not be able to give yourself a full half-hour or hour every day, but you can try. Even just twenty minutes to sit quietly and meditate or take a walk can make all the difference in your attitude and your health.

Air Pollution and Global Warming on Aboriginals - Free Samples

Climate change is one of the issues germinated through the diabolical policy problem around the world. Rapid growth of the industries and the capital boom in the world market has leading to deterioration in the air pollution, which ultimately causing global warming (Knibbs and Sly 2014). One of the most threatened groups of indigenous population lives in Australia who is seemed to be suffering from the adverse effect of the climate change (Scarano and Ceotto 2015). Under this stringent condition of the aboriginals around the world, this report is aimed to consider the effect of the air pollution and the global warming on the indigenous population of the Australian population. According to the intergovernmental Panel on Climate change’s Third Assessment Report (TAR) it has been found that the Australian aboriginals are one of the two most threatened indigenous groups in the world that has been suffering heavily due to the adverse effect of the climate change (Intergovernmental Panel on Climate Change 2015). Now, the irony is that, there have been plenty of researches on the environment and development issues in Australia during last thirteen years; however most of them are concerned about the climate change laws of Australia other than the northern territories and fragmented in nature. Previous researches have failed to provide any long term engagement program between the community and government, which can assess the climate change and global warming effect on the Australian aboriginals (Race et al. 2016). Thus, this research is aimed to assess the effect of air pollution and global warming on the aboriginal of Australia through comparative analysi s of population living in northern region of the country with the non indigenous population of Australia. Over the time various foreign communities has came to the Australia and captured the land of the aboriginal people during the seventeenth century (Gilbert 2016). Since then, indigenous people have shifted to the northern territory of Australian and non indigenous population has exploited the country’s natural resource to a great extent leading to air pollution and global warming. According to Flora (2018), there has been various researches regarding the challenges and issues faced by the non indigenous population due to air pollution and global warming, however very few has addressed the case of indigenous population. There are more than 100,000 Australian indigenous people who presently live in remote areas of the country, whose majority section can be found in the Northern territory of the Australia and according to the TAR report their health condition and resource availability is getting deteriorated day by day (Intergovernmental Panel on Climate Change 2015). Under this s cenario, this research is essential for assessing the magnitude of the effect of air pollution and global warming from the point of view of the Australian indigenous population, The potential threat to the existence of aboriginal peoples is at stake due to the institutional and legal barriers raised through the various governmental programs regarding the environment and development. Under the purview of the situation of the Australian indigenous populations, this research is aimed to discuss the effect of air pollution and global warming on the aboriginal population of Australia. Flora, C.B., 2018.  Rural communities: Legacy+ change. Routledge. Gilbert, J., 2016.  Indigenous Peoples' Land Rights under International Law. Brill. Intergovernmental Panel on Climate Change, 2015.  Climate change 2014: mitigation of climate change  (Vol. 3). Cambridge University Press. Knibbs, L.D. and Sly, P.D., 2014. Indigenous health and environmental risk factors: an Australian problem with global analogues?.  Global health action,  7(1), p.23766. Race, D., Mathew, S., Campbell, M. and Hampton, K., 2016. Understanding climate adaptation investments for communities living in desert Australia: experiences of indigenous communities.  Climatic Change,  139(3-4), pp.461-475. Scarano, F.R. and Ceotto, P., 2015. Brazilian Atlantic forest: impact, vulnerability, and adaptation to climate change.  Biodiversity and Conservation,  24(9), pp.2319-2331 Green, D. and Minchin, L., 2014. Living on climate-changed country: Indigenous health, well-being and climate change in remote Australian communities.  EcoHealth,  11(2), pp.263-272. Hugo, G. and Wall, J., 2015. Climate change and environmental influences on australia’s population distribution.  Health of People, Places and Planet: Reflections based on Tony McMichael’s four decades of contribution to epidemiological understanding, p.177. Maru, Y.T., Race, D., Sparrow, A., Mathew, S. and Chewings, V., 2015. Adaptation as a trigger for transformation pathways in remote Indigenous communities. In  Innovation in the Rangelands, Australian Rangeland Society 18th Biennial Conference. Schwerdtle, P., Bowen, K. and McMichael, C., 2018. The health impacts of climate-related migration.  BMC medicine,  16(1), p.1. Spencer, B., Lawler, J., Lowe, C., Thompson, L., Hinckley, T., Kim, S.H., Bolton, S., Meschke, S., Olden, J.D. and Voss, J., 2017. Case studies in co-benefits approaches to climate change mitigation and adaptation.  Journal of environmental planning and management,  60(4), pp.647-667.

The use of DDT has been banned in the United States because of Essay

The use of DDT has been banned in the United States because of environmental damage and human health concerns. However, in malar - Essay Example (Hayes & Laws, 1991). â€Å"Estimated lethal dose for man is 500 mg/kg and in kerosene solution it’s 150 mg/kg. Woodward et al. (1944) have stated the accepted acute mean lethal dose in rats as 250 mg/kg and Gosselin et al. (1984) has mentioned that the same amount would also be fatal for human beings. Baselt (1982) has stated that DDT is comparatively alright with a lethal dose of 30 g in an adult. â€Å"Exposure to an aerosol mist containing 80 mg DDT in a room of 113 m3 on five consecutive days for two hours two times a day showed no evidence of toxic effects†. (DDT, 1990) Studies have also revealed that the young are at no greater risk than adults. The four phases of the disposition of a toxic compound to estimate its toxicity are absorption through membranes in a system, the distribution throughout the system, the excretion and elimination from the system and finally, the metabolic fate of the chemical. Absorption happens from the gastrointestinal tract and throug h inhalation. DDT can also be taken in by intact skin in oily solution. DDT gets distributed in the body and primarily affects the central nervous system causing irritability. Violent agitations might also take place but is less common than with other organ chlorine pesticides. DDT tends to get accumulated in fatty tissues along with metabolites DDD and DDE. It also gets converted to DDA and dispatched through urine. Breathing in fine DDT aerosol or dust can cause problems for the nose, throat and eyes (Hayes & Laws, 1991). Formulations of DDT dissolved in a solvent is also known to cause temporary dermatitis. In most cases, the effect is attributable to the solvent and not DDT itself. Increased urinary excretion of the more polar metabolites is generally compensated for by increased steroid biosynthesis (Gosselin et al. , 1984). ). The effects of DDT on the respiratory system are only minor compared to the effects that it has on the nervous system. Heightened salivation has been ob served in persons who consumed DDT-infested food (Hayes & Laws, 1991). Apart from vomiting, the gastrointestinal system is hardly affected in cases of extreme poisoning and Renal damage has also been observed in people to some extent. Types of Exposure and Responses associated with DDT: Food is the primary way in which the population gets exposed to DDT. And â€Å"due to its low biodegradability and high lyophilise properties, small amounts of DDT are found to have accumulated in adipose tissue. DDT tends to get stored to a lesser extent in other tissue and this amount is proportional to their neutral fat content.†(Data Sheet on Pesticides, 1976, 2.2) Almost 5000 tonnes of DDT is used every year for the control of vector-borne diseases, primarily for malaria and visceral leishmaniasis control. DDT is acknowledged as a persistent organic pollutant(POP). It gets stored in the fatty tissue of animals and humans, makes its way up the food chain and is found in high concentrations in human breast milk(biomagnification). Populations in areas close to countries which make use of DDT and in temperate regions can be indirectly affected by long-range atmospheric transport so that DDT may contaminate environments far from where it is used. Large exposures can result in vomiting. â€Å"The earliest symptoms include par aesthesia of the tongue, dizziness, tremors and vomiting. It is generally believed that long exposure to DDT and its main metabolic product DDE

Our ideas of what it is to be British have fundamentally altered in Essay

Our ideas of what it is to be British have fundamentally altered in the last fifty years. Discuss - Essay Example British citizenship and nationality is governed by the British nationality law, which can be acquired by a descent from British nationals. In an historical context, British people refer to the ancient Britons, the indigenous inhabitants of the Great Britain (Hall, 2004:108). In essence, this paper will delve the present assertion that the ideas of what it is to be British have fundamentally altered in the last fifty years. The English are ethnic group of people from England, a country of the United Kingdom and commonly known to speak English. They originate from the early mediaeval where old English was spoken. They are the source of English language, the parliamentary systems, the common law system, and the numerous major sports. The Irish people are the ethnic group who originate in Ireland, which is an island in the Northwestern Europe. Descendants of the Irish live in many western countries especially the English speaking countries. Their immigration was caused by politics, famine, and economic issues. The Welsh people are the ethnic group and native of Wales and speak the Welsh language. They are common in the northern and western region. They share a common cultural heritage and shared ancestral origin. The Scottish people are an ethnic group native to Scotland, amalgamation of the Picts and the Gaels. They are tied to their linguistic, culture, family ancestors, and generic nature of origin. Th eir decency in many countries with emigration is attributed to highland and lowland clearances. The notion of the Britishness was shamed during the Napoleonic Wars between the Britian and the first French Empire that later developed further during the Victorian era. Britishness became mixed in much older identities of English, Scots and the Welsh culture with a distinct that resist the notion of a homogenized British identity. Controversies of British identity arise in the Northern Ireland in Leu of the longstanding

The Role of the HIM Manager Essay Example | Topics and Well Written Essays - 3000 words

The Role of the HIM Manager - Essay Example The health care industry was the largest industry in 2006 which provided 14 million jobs in addition to 438,000 jobs for the self employed (BLS, 2008). The health care industry delivers care round the clock to millions of people. This requires combining the medical technology with the human touch. The health care industry consists of nine different segments – hospitals, nursing and residential care facilities, office of physicians, office of dentists, home health care services, offices of other health care practitioners, outpatient care centers, other ambulatory health care services and medical and diagnostic laboratories. The hospitals constitute only 1 percent of all healthcare establishments but they employ 35% of all workers. Workers in health care tend to be older than workers in other industries. Health occupations require high level of education and training due to which the health care workers are more likely to remain employed in the same occupation. Health Informatio n Management (HIM) Professionals are vital to any health care organization. This paper will discuss their job description and responsibilities, the challenges they face in discharging their duties and their responsibility towards handling legal and regulatory issues. The HIM professionals are also known by other designations such as Administrative Support Personnel, Health Care Technologist, Health Record Technician, Information Clerk, Information Specialist, Medical Technologist, Office Personnel (Alberta, 2007). The health records in any health care centre contain records about the patients’ history and courses of treatment. These may also include the physicians’ note, forms for prescribed medication, input from other members of the treatment team. While the health records departments are open for longer hours the HIM professionals work in shifts and generally work a standard work week. Their work profile entails spending the better part of the day at the

Analysis of video Essay Example | Topics and Well Written Essays - 1000 words

Analysis of video - Essay Example For example, they have right to acquire wealth, they can take legal action against another person and they can also be prosecuted in the court for their misconduct. Corporations in the United States and the rest of the nations are gaining huge influence over normal persons and as a result, they often abuse the rights of the individuals in the society (Bakan, 2012). This is because they are less conscious about the needs of the people since their endeavor is to achieve their goals of amassing affluence irrespective of the impact of their actions in the community. Nature of Corporation’s Institutions According to Bakan (2012) corporations are basically established to with a motive of generating wealth or their shareholders. Unlike ordinary persons, corporations lack conscious for the human feelings hence will do anything in order to acquire more wealth. They subject human beings into torture due to their activities without minding about their actions (Banerjee, http://www.google .co.ke/search?tbo=p&tbm=bks&q=inauthor:%22Subhabrata+Bobby+Banerjee%222009). Although normal human being would not subject their fellow human beings into immense sufferings, corporations have no concern for human life. Their focus is to engage in activities that will generate wealth for the investors. In the modern society, corporations are enjoying extreme autonomy which a normal person cannot enjoy. This is because corporations are made up of different individuals and since their focus is on the returns they will make, they have a lot of wealth which they use to defend their positions against all evils they commit (Macfarlane, 2002). This prevents individuals from enjoying their liberty granted by the constitution. Consequences of Corporations Institutions in the Society The law of the nation requires individuals to enjoy liberty without partiality by any one. However, corporations are taking advantage of the needy people in the society and convert them into a supply of affordable labour (Macfarlane, 2002). They pay them low wages just or maintenance of their lives. They want to law taxes from their income. Corporations aim at amassing immense wealth from the public while offering negligence assistance to the society. For example, they pay their workers very low wages, abuse children, paying low taxes by failing to declare their entire gains from their trading activities (Bakan, 2012). The corporations are trying to acquire maximum wealth from the nation while they want to offer little in return. The negative impacts of the corporations’ activities are affecting people who do not gain anything from the corporation’s (Bakan, 2012). For example, damping of the wastes materials and emissions due to their production activities has detrimental effects of the environment. The emissions of poisonous substances are adversely affecting human beings, aquatic life and vegetation. They are the major causes of cancer disease which is continuing to take away the lives of many people. Corporations such as Monsanto and Syngenta among others use chemicals which have detrimental effects on the surroundings and on human beings. Some corporations spray their workers with chemicals in order to evade spread of diseases by the workers. These are hindrance to the freedoms of the individuals and have negative impact in the society. Furthermore, huge corporations fail to disclose vital

Motives and Incentives and Their Impact On the Performance of Essay

Motives and Incentives and Their Impact On the Performance of Employees In Government Hospitals within The Kingdom of Saudi Arabia - Essay Example This research will begin with the statement that the modern business environment poses a significant challenge for businesses at both the local and international level. The global crisis has made it increasingly vital for organizations to take measures to ensure the life of their businesses, overcoming both internal and external operation factors to achieve revenue growth and corporate performance. It is widely agreed that effective management of one of the most important factors for organizations to stay profitable in a highly competitive global economy. These factors of production are the three M’s: materials, machine, and manpower. It is the last of these, the human resource of a company, which poses the biggest challenge. A motivated employee is a valuable asset that brings tremendous worth to an organization. This research will try to look into the style and strategies of Al-Amal Hospital in Jeddah, the company in focus, in dealing with their workforce and how their workf orce stays motivated and happy with their job. It is the purpose of this paper to identify the motivational strategies and incentives that would improve employee behavior in the workplace. The focus of this study will be an evaluation of the practices of hospitals in Saudi Arabia, particularly Al-Amal Hospital in Jeddah. This will include an evaluation of the employee motivation and incentive strategies available to Al-Jamal Hospital, how they were applied in the organization and the effectiveness of these approaches. As the data collected for random sampling will be from a single company, this study will be demographically limited. The opinions, feelings, beliefs, and situation of participants may, therefore, be insufficient to totally represent the situations at other hospitals in Saudi Arabia or the feeling of their employees toward motivation and incentives. In terms of the secondary data from the various literature, studies, and researchers, there is a potential risk of relying upon information that cannot be proven correct within the context of this study, given that the results will not be derived not from data based on empirical study.

HOW TO ATTRACT MORE BUSINESS MAJORTO QUEENSBOROUGH COMMUNITYCOLLEGE Essay

HOW TO ATTRACT MORE BUSINESS MAJORTO QUEENSBOROUGH COMMUNITYCOLLEGE - Essay Example And this college holds a good reputation which is because of the good quality education provided by the highly qualified faculty in here and also the environment provided by the administration. They provide well-planned curriculum that helps students in learning. It also provides job training program and short courses for businessmen and professionals so that they can excel in information technology. The college offers nine associate degree courses in liberal arts and sciences and fifteen in career development area and ten specialized certificate programs. Transfer program is for the students who are planning to continue their studies after completing this course. After completing two years program from this college they will be transferred to the senior college. Career program is for those students who wish to go for their careers and jobs right after completing their degrees. The most enrolled programs include liberal arts and sciences, business administration and nursing pre clinical. The Business department of Queens Borough College is one of the best in its respect. It has produced many students which are serving in different organization right now. It offers a good combination of courses in Business administration program that covers accounting, marketing, management and information technology etc. One course that is missing in the list is the Human Resource Management. Mostly business students like to opt Human Resource Management (HRM), as it is very popular and they can go in good career after completing their degree in HRM. So I suggest that HRM should be included in the list of the subjects. The Public Relations department should be improved, the first impression that the students get is about the college is from the attitude they receive from Information Desk or Office. So the people employed in Information Desk should be well-mannered and co-operative. The students who want to study Business as their major, wants to persuade their career in this field, so the college must recognize those students and should support them fully in achieving their target. Their target could be achieved by having quality education and the second thing that counts is that how much you are interacting with the real business environment in the city. They must be given assignments and projects that could be done by going to different organizations, like this they would be given a chance to be in contact with business people and the personnel that are sitting in actual market where they will go tomorrow for job hunting. Secondly, the faculty members should also get themselves in contact with the businessmen in the city so that when the students go to any organization, they should be fully recognized and be given proper attention at that place. The method of teaching and the environment in classroom and college must be unbiased towards minorities, like foreigners, African-Americans and women. If it is not, then it's a reason of creating discrimination and also this discrimination is a major reason of repulsion from any place or any environment. If they felt like this, they would never like to come to this place and would never like to study here. Delegations should be sent in high schools and there should be some training sessions for the students also. As they are the ones who will be getting admission in college and will be the one choosing

Motives and Incentives and Their Impact On the Performance of Essay

Motives and Incentives and Their Impact On the Performance of Employees In Government Hospitals within The Kingdom of Saudi Arabia - Essay Example This research will begin with the statement that the modern business environment poses a significant challenge for businesses at both the local and international level. The global crisis has made it increasingly vital for organizations to take measures to ensure the life of their businesses, overcoming both internal and external operation factors to achieve revenue growth and corporate performance. It is widely agreed that effective management of one of the most important factors for organizations to stay profitable in a highly competitive global economy. These factors of production are the three M’s: materials, machine, and manpower. It is the last of these, the human resource of a company, which poses the biggest challenge. A motivated employee is a valuable asset that brings tremendous worth to an organization. This research will try to look into the style and strategies of Al-Amal Hospital in Jeddah, the company in focus, in dealing with their workforce and how their workf orce stays motivated and happy with their job. It is the purpose of this paper to identify the motivational strategies and incentives that would improve employee behavior in the workplace. The focus of this study will be an evaluation of the practices of hospitals in Saudi Arabia, particularly Al-Amal Hospital in Jeddah. This will include an evaluation of the employee motivation and incentive strategies available to Al-Jamal Hospital, how they were applied in the organization and the effectiveness of these approaches. As the data collected for random sampling will be from a single company, this study will be demographically limited. The opinions, feelings, beliefs, and situation of participants may, therefore, be insufficient to totally represent the situations at other hospitals in Saudi Arabia or the feeling of their employees toward motivation and incentives. In terms of the secondary data from the various literature, studies, and researchers, there is a potential risk of relying upon information that cannot be proven correct within the context of this study, given that the results will not be derived not from data based on empirical study.

Safety and security Essay Example for Free

Safety and security Essay Amateur sport is geared around participation and voluntary clubs. As land and buildings are expensive, many clubs use facilities provided by Local Authorities. Many outdoor sports clubs have their own facilities although there is an even greater number of players who use recreation grounds. There are about 78,000 pitches in the country. Thirty years ago amateur sport was largely centred on outdoor team games. Competitive sport means participation and developing skills and there is a sizeable industry for coaches and instructors. Despite its profile, competitive sport is on the decline and organisations like Sport England are concerned that as a nation we are losing our sporting skills and becoming less fit and healthy. For example, many governing bodies have big school-based programmes, and Local Authorities will run schemes in deprived areas where people cannot afford to play sport or go to health suites. Outdoor Activities-there are over a thousand centres in the UK which specialise in providing outdoor adventure holidays. Facility provision is also essential for outdoor sports, meaning the upkeep of the environment, and this is regulated by the organisations under the Countryside Agency umbrella, such as the Forestry Commission, Local Authorities or National Trust. For most participants activity in the natural world is occasional, and more time will be spent in training in built facilities such as pools or climbing walls. Profitable areas such as skiing, sailing, private sector companies are the main providers. Health and Fitness- there are now at least 2,500 private health and fitness clubs in the UK- it is a boom industry that many young people see as the exciting place to work in leisure. Private sector will increasingly dominate the market and eventually also manage and invest in public sector facilities on behalf of Local Authorities.  The central product of these clubs is the fitness room consisting of cardiovascular equipment and perhaps free weights, and frequently areas with small pools, jacuzzis and saunas.. Heritage and visitor attractions The heritage industry concerns buildings and materials that have historical value. Thirty years ago these were largely stately homes, castles, ruins such as Stonehenge and battlefields. Heritage was often about how the rich and famous had lived or what they had collected, or about culture(e.g. Shakespeare). Now it has expanded to include a much wider interpretation of historical value. Many heritage sites are owned by Trusts and limited companies that have been set up to manage individual sites, while many stately homes are owned and run by two big organisations: Museums-are not usually run by the private sector, largely because of high costs. Many museums started life as private collections which were later donated to the nation or the local community.  Libraries-apart from their lending their services which we will look at later, they are largely involved in the heritage sector. They have a back-room role of collecting important documents including maps, and making these available to the public. This is known as the records and archives service. Catering Leisure catering includes pubs and clubs, restaurants, cafes and takeaways. Its firmly placed in the private sector with some exceptions. A catering company provides a service according to the specification of the client and often under the clients name. Many leisure centres and theatres buy in service in this way.  The catering sector has various components that make eating out an enjoyable experience: the provision of food and drink; entertainment, such as jazz at Pizza Express, games; and security in the form of door staff. Eating out is an increasingly important and available leisure experience. The fast-food business is booming with a growth rate of 30 per cent. This growth is at the expense of takeaways and cafes, and especially of pubs and clubs. Fast food tends to be run by chains that can make economies of scale by producing the same product in each outlet. Many breweries have followed this trend and operate chains like Harvester restaurants within their pubs. In contrast cafes, restaurants and takeaways tend to be run and owned by family businesses. Countryside recreation The countryside is the natural, national playground and one which is used by walkers, ramblers and those involved in more active outdoor activities. A survey in 1998 by the National Centre for Social Research showed that 1,427 million day visits to the countryside were made and a further 241 million to the coast.  Like any leisure facility such usage will have an impact which in turn will lessen, and even threaten, the leisure experience itself. Organisations working in countryside recreation are therefore primarily stewards who maintain, manage and regulate the environment and also produce information and education. An important organisation funded by the Countryside Commission is the National Parks Authority. This is responsible for the regulation and interpretative service inside twelve National Parks, which are designated areas of significant natural beauty and wilderness. The Local Authority has a part to play in managing and regulating country parks. In many cases it also own s the land and will act as landlord to any tenants in the park, such as farmers. Home-based leisure This is cheap, easy and relaxing. The equipment most popularly used are: radios, videos, TV sets, gardening materials and home fitness machines is normally provided by the private sector. The main exceptions are the library lending services in the public sector. Except for broadcasting this component is retail based.  As the internet is more widely used, shopping for leisure on the net is likely to increase. Free services like Tesco mean more people are using the net.

Entrepreneurship and Microfinance Impact on the Poor

Entrepreneurship and Microfinance Impact on the Poor Chapter One: Introduction Background Around the world economies have experienced high growth and financial systems have undergone major transformation, a significant number of people especially in the developing countries do not have access to finance. Policy makers have increasingly promoted the use of microfinance as a tool to eradicate poverty and implement financial inclusion strategies. Pakistan being a developing country is no exception to this, having a large number of people that are poor with limited recourse to livelihood. Though limited in its scope, microfinance in Pakistan has been able to bring some of the large number of unbanked people into the banking network and has also helped in improving their socioeconomic condition (SBP ILO, 2009). About 90 % of the people in developing countries lack access to financial services from institutes, either for credit or saving, which further fuels the â€Å"Vicious Cycle of Poverty† in Figure 1. A lack of assess to financial institutions also hinders the ability for entrepreneurs. Microfinance serves as a means to empower the poor and provides a valuable tool to assist economic development process. Pakistan is fourth most populous country in Asia and sixth in the world. Having an average annual growth rate of 2.02 percent the population of the country reached 160 million in 2007 as compared to 139 million in 2002. Two third of the population is living in rural areas and the working age population (15-60 years) is increasing which was 51% in 1998 and 57% in 2008 (SBP, 2008). In 2008, about 24% population is living under the line of poverty which was 34.46% in 2002. There is significant increase in economic growth and improvement in Social Sector Development. Now Pakistan has shifted from Low Human Development group to the category of Medium Human Development (Global Monitoring Report, 2007). Despite all these improvements, poverty is a major issue which every government is combating against. Pakistan is a country with high population growth and increasing ratio of labor force. According to Economic Survey 2007-08, Pakistan has 51.78 million active labor forces while 2.69 million out of this is unemployed. If we look unemployment gender wise, despite of women ratio of population which is 49.6%, ratio in labor force is only 25% (10.08 million out 51 million) of total labor force. Government of Pakistan has taken many steps to increase women participation in labor force, still women ratio is very less to over all labor force and it is not matching to world standards and trends about women participation in business and job opportunities (SBP, 2008). All these facts show potential to work in microfinance to encourage people and specially women to develop their own entrepreneur so that men in general and women specially can contribute a productive part of society to make it a sustainable. To combat unemployment, only big companies or public sector are not enough for job creation but it would be better if people start their own business for making society productive. Microfinance is being recognized by different researchers as an effective tool to fight poverty by providing financial services to those who do not have access to or are neglected by the commercial banks and financial institutions. Microfinance has been successfully implemented by Grameen Bank. Back to 1976, Mohammad Yunus took initiative of lending loans by developing solidarity group of women in Jobra village, Bangladesh. Many MFIs has adopted idea adding with new strategies and now serving poor in effective way. Now Garmeen Model is a successful approach of microfinance. Microfinance is being considered as one of the most essential and an effective driving force for poverty reduction and alleviation. Kashf case attracted me because Kashf believes in a world where financial inclusion is a possibility and where poor women are fully engaged in realizing the economic dreams of their families. Kashaf vision of â€Å"Financial Services for All† posits a miracle for transforming the role of women in society and for making a poverty free world a reality. Statement of Problem Although social entrepreneurship plays great role as looking to the world real and see clearly what is happening, feel responsibility for financially weak people and help them as much as they can. It is also a big challenge to the entrepreneurs and organizations that they should take steps to eliminate unbalance between different levels in society. In other way, this thought encouraged me to choose this problem. I think that empowerment of poor people by microfinance and with combination of micro entrepreneurship is a great idea. You can never help people just giving money. But you can help people giving them job and help to create their small businesses in order to optimize their share of production to the society. All these issues lead to research on this topic that how microfinance is contributing for entrepreneurship in low income communities of developing countries, how sustainable society is evolving as the result of doing own business in low income communities and how Kashf’s way of microfinance is supporting all of this process. Research Objectives To be meaningful, every work must have to formulate the objectives of the study (Mark Saunders, Philip Lewis, Andrian Tronhill, 2007). Although most of research has been done either microfinance or entrepreneurship separately. But in my opinion there is close relationship between microfinance and entrepreneurship. As social entrepreneurship is doing a lot for credit pool of MFIs with social services, micro entrepreneurship can be found in micro enterprise. As per research topic the objective is research on the issue that how do microfinance and entrepreneurship work for poverty alleviation and empowerment of poor. Research Questions The study was conducted with the guidance of the following questions. How microfinance is contributing for entrepreneurship? How do microfinance and entrepreneurship work for reduce poverty, empower poor in Pakistan? How do microfinance entrepreneurship work for sustainable development in Pakistan? Research Methodology The research methodology of this paper will be qualitative. My work is covering two main topics; entrepreneurship and microfinance with discussing three factors; poverty reduction, empowerment of poor and sustainable development. In this paper data collection techniques are used, interviews as primary source and internet, web pages, articles, annual reports, books etc.) as a secondary source. The research type will use deductive and empirical data will analyze by the help of conceptual framework, develop after literature review. Significance of The Study A lot of research is doing on Entrepreneurship and Social Entrepreneurship because it is emerging thread in business. On microfinance and entrepreneurship much research work has been while discussing in Grameen model. For both fields in terms of combining microfinance and entrepreneurship this research will lead a new horizon. It will also give a vision, to Kashf that how they can improve microfinance lending process, and other Microfinance institutions (MFIs) that how they can develop process in more effective way. Further, students, researchers in Microfinance field, NGO’s and Governmental organizations can extend research in this area to address the issue of poverty alleviation and empowerment of poor. Assumptions Limitations The assumption of this research is that all information, written in the reports, news, web page true and can be used fairly. The study does not cover all the aspects that the promotion of microfinance requires. It was difficult to organize interviews at large scale from borrowers due to distance problem between Pakistan and The Netherlands and this can reflect limited information about micro entrepreneurship. I primarily focused on microfinance and entrepreneurship role in reduce poverty and empower people. Organization of Study The thesis will consists of six chapters and will be organized in the following manners: Chapter One: Introduction: Briefly introduces the background information of the study. In addition, it consists of, statement of the problem, research objectives, and research questions to be addressed, significance of the study, research methodology, scope and limitation of the study. Chapter Two: Literature Review: Describe different theories and readers will look on previous research on the research topic. Also, discuss microfinance, its different models and how microfinance contributes in poverty alleviation, and theories about entrepreneurship and social entrepreneurship. Chapter Three: Theoretical Framework and Research Methodology: It will be building a theoretical framework that will use while analyzing empirical data. Chapter Four: Empirical Findings: It will present empirical data collect through borrower’s interviews and Kashf’s administration. Empirical daa is including facts and figure about poverty, unemployment, economy and microfinance. There is also detail information about Kashf Foundation. Chapter Five: Analysis of Data and Interpretation: It will present analysis regarding need of interactive strategy of microfinance and entrepreneurship, social services and intermediation by Kashf and sustainability issue. Chapter Six: Conclusions: Finally findings and conclusions will be put in the light of previous discussions. Chapter Two: Literature Review 2.1 Introduction The extent to which microfinance, entrepreneurship and sustainability are interrelated is dependent on the extent to which it addresses the economic development process. Yunus (1994), claims, â€Å"If we are looking for one single action which will enable the poor to overcome their poverty, I would go for credit. Money is power.† Credit invested in an income-generating enterprise as working capital or for productive assets leads to establishment of a new enterprise or growth of an existing one. Profit from the enterprise provides income, and a general strengthening of income sources. A variety of financial institutions, worldwide, have found ways to make lending to the poor sustainable and to build on the fact that even the poor self-employed repay their loans and seek savings opportunities. The challenge is to build capacity in the financial sector drawing on lessons from international best practices in micro, small enterprises and rural finance. The extent to which microfinance, entrepreneurship and sustainability are interdependent is becoming increasingly recognized by experts in their respective fields of work, associated with economic development. Over 500 million poor people around the world run profitable microenterprises and often cite credit as the primary constraint to business growth (IFC, 2002). Robinson (2002), a prominent expert in the field of microfinance, notes that â€Å"The formal sector has begun to realize that financing the poor can be both economically and socially profitable.† 2.2 What is Microfinance? Poor people are not able to access loans from commercial banks normally because of lack in guarantee and collateral. But there are also many other reasons involved for which commercial banks were not willing to finance poor. These reasons are included that poor have less education, experience and training, high expenses on transactions of small loans and lower rate of profit. This situation resulted in emerging the idea of micro lending and microfinance. Microfinance, therefore, a way to finance people, those have no collateral or any property for guarantee. Microfinance is a way of financing to poor for their business, to alleviate their poverty, empowering them, giving social benefits on sustainable way. Due to microfinance, there are many possibilities have emerged including extending markets, reducing poverty and fostering social change (Agion Morduch, 2005, pp.3). But there is general concept that microfinance is just lending loan to poor but as I mentioned that microfinance is no more only loans but covering the issues of poverty alleviation, putting social impact on poor and educating poor to savings. Therefore, MFIs, today, not only NGOs but serving as a complete banking system. This discussion lead to me that microfinance is a form of financial services for poor to help them for their business activities by giving micro credit. There is no one universal accepted definition of microfinance as different related variables like poverty, lone size, the poor and the poverty line carry different meanings in different countries. Different authors have defined the term in different ways. According to CGAP, Access to financial services puts power into the hands of poor people. Evidence shows that when poor people have financial services, they use their savings or loans to improve their families’ lives in a variety of ways: sending their children to school, buying better medicines and more nutritious food, fixing a leaky roof, meeting social and cultural obligations like paying weddings and funerals, and building income generating potential by investing in business (CGAP 2007). Microfinance has evolved as an economic development approach intended to benefit low-income women and men. The term refers to the provision of financial services to low-income clients, including the self employed (Ledgerwood, 2000, pp.1). While according to ADB (2008) Microfinance is the provision of a broad range of financial services such as deposits, loans, payment services, money transfers, and insurance to poor and low-income households and, their microenterprises. These definitions are elaborating that microfinance is a financial services but designed specifically for poor to improve their lives in sustainable way. 2.2.1 Microfinance Activities Economic activities are based upon sellers and buyers and their capacity. Sellers, before market their product, look at buyer intention and capacity. On the other hand, banking activities depend on both sellers and buyers. Financial institutions/lenders finance both sellers and buyers for their activities and commercial banks invested in projects at large scale while with this, banks invested in consumer finance also. Usually MFIs don’t invest in consumer finance, but give finance only for micro enterprise. MFIs encourage people to improve their standards by doing businesses and earning from them and this is a consistent and sustainable way. In fig (2), microfinance is dedicated only to poor and explicitly for business activities. But with this, there are some indirect impacts of microfinance on the micro borrower which are alleviation of poverty, improvement in healthcare, increase in literacy and other social impacts. These figures are taken from Ledgerwood, 2000. Figure 1: Economic Activity by Commercial Banking Figure 2: Economic Activity by MFIs There are many activities and characteristics are included in microfinance. Some are (Ledgerwood, 2000, pp.1): Small and short term loans Social collateral rather than financial collateral Access to larger amount of loan if repayment performance is positive Search and access the real poor and their business demand Continuous monitoring of business. Higher interest rates on loan due expensive financial transactions and risk factor. Easy way to access finance, therefore not too much paper work, and easy and short procedures. Saving Services and training services to borrower’s development. Literacy training to borrowers so that they can come up with competence to daily business problems and its solutions. Health care, social services and other skill training services to provide borrower a sustainable base for their business development. 2.3 Microfinance A Developmental Tool Due to lack of financial resources in developing countries, people from low income communities while having innovative idea for their business, even as shop keeper or house hold products manufacturer, they can’t implement their ideas. This low economic activity in low income communities due to lack of financial resources lead them to more poverty and poor life standards. Generally financial services cover savings and credit activities and there is same concept about MFIs. But according to Ledgerwood (2000), MFIs work for general financial services with this they provide insurance and payment services to their clients. But important aspect of MFIs is not only financial intermediation but also providing social intermediation and social services to their clients. Social intermediation and social services contain many activities including trainings, management development, and financial literacy activities. Furthermore, many MFIs, arrange get together where experienced people guid e others, where they give useful suggestions, tips and other tactics for their business. Microfinance is providing financial services along with social services. Normally, social services are not applicable in general banking system. So, microfinance is not simply banking system but development tool, combining both financial and social intermediation (Ledgerwood, 2000). 2.3.1 Different Services by MFIs Financial Intermediation The primary objective of MFIs is financial intermediation because without loan/money social intermediations can not work. As prior discussions that poor face barriers to access finance from general financial service institutions. In this regard, MFIs become a bridge to access finance and in result to poverty alleviation, health care and education literacy (Ledgerwood, 2000). MFIs provide many financial services including credit, savings, insurance credit cards, payment services etc. It is not necessary that every MFI should facilitate their customers by all these services but MFIs can facilitate anyone of these services or all. The choice of which financial services to provide and the method of providing these services depend on the objectives of MFI, the demands of its target market and its institutional structure (Ledgerwood 2000, pp.66). Social Intermediations Social intermediations for individual whose social and economic disadvantages place them beyond the frontier of formal finance (Von Pischke 1991). A successful financial intermediation is often accompanied by social intermediation. It covers the issues of group formation, leadership training and cooperative learning, is secondary role of microfinance for borrowers of MFIs. Development in Social capital is a basic ingredient of sustainable development in poor’s life and especially in society. Social intermediation is process of building the human and social capital required by sustainable financial intermediation for poor (Ledgerwood 2000, pp.64). Now question rise, how social capital be acquire and strengthen? Social capital is actually links between clients of a group and multiple groups, and between MFIs and borrowers. These links establish on the basis of strong foundation of trust and cooperation (Agion Morduch, 2005). The ratio of social capital will increase with increase in business activities among members, and financial transaction between lender and borrowers. It is normally developed through group activities but there are other ways to develop it by individually. In group social intermediation, activities perform inside the group with some help from outside to develop institutional capacity and human resource. In group, most of members belong from remote areas, having less literate and experience about business and financial transaction. So from group formation to selecting leader, developing networks and working mutually, MFIs support borrower to deal with these issues. Therefore, these members need training in record keeping, book keeping, accounting, training about business activities and tactics, and negotiation skills (Ledgerwood,2000). Enterprise Development Services Micro finance institutions (MFIs), not all, support to borrowers, either in group or individual in different enterprise development services like marketing, business and accounting training etc. This service can be divided in to two parts, enterprise formation and enterprise transformation. In enterprise formation, MFIs provide technical support to group or individual in start up of business, development and maturing ideas and maturing the skills. During in transformation of enterprise, MFIs arrange trainings for their borrowers, workshops and get together for developing latest skills in their business area (Ledgerwood, 2000). Figure 3: Minimalist and Integrated Approaches to Microfinance (Ledgerwood, 2000, pp.65) Minimalist Approach Integrated Approach One-missing piece Financial and non financial Credit Services Financial Intermediation Working Capital Fixed asset loans Savings Insurance Social Intermediation Group formation Leadership training Cooperative learning Social Services Education Health and Nutrition Literacy training Enterprise Development Service Marketing Business training Production training Social Services Microfinance practitioners define that, poverty can be addressed by financing poor for productive activities which in result comes up to their access to life necessities. But financial lending is only a one tool to poverty alleviation. Poor needs more than microfinance to address the problems of poverty and accessibility to other life needs like food, health, family planning, education, social support network and so on. In Ledgerwood (2000) MFIs serve to their clients with additional social services with financial intermediation. The best way to contact with their clients is in the form of group, that is the easy way to literate them, giving health care and other facilities. So in this way, MFIs would positive effect in the life of poor by offering financial services with supportive services. These supportive services, actually, play important role in sustainable human development and livelihood of the poor (Khan, Rahman, 1998). Social service should not implicate with financial or social intermediation because financial intermediation is primary service providing by MFIs. That means, there should be no additional cut off from loans in account social service but it should be provide by secondary means or by subsidies (Ledgerwood, 2000). 2.4 Microfinance Models The term model refers to â€Å"service delivery methods and microfinance products†. There are now nearly 70 million poor people who are getting benefits from 2500 MFIs in over 100 countries by microfinance (Sengupta, Aubuchon (2008). The poor’s conditions are different in different countries in world. These conditions are related to social, ideological and political issues (Weiss, Montgomery, 2004). Therefore, there are some distinctive differences between approaches and motive of microfinance. I will see briefly two approaches, which is very famous Grameen Model, originated from Bangladesh and other is Banco Sol Model, Bolivia. 2.4.1 Grameen Model In Grameen model, primary unit to whom lending fund is a group of 5 members that organize and apply for loan. In first stage loan is granted for two members to invest in their business. If these two members become successful to repay amount, then four to six weeks later, next two members are granted for loan. Last one member will be eligible for loan if previous two repay loan successfully. Repayment of loan open door for next loan and then go on if all members repay loan successfully. If anyone of group member will default in their loan, whole group will disqualified for further loan. Each group has its own president and secretary to coordinate all activities among their own group and to communicate and coordinate with other groups. Eight groups are then organized at center level, by which a bank officer deal with these all eight groups. This center of eight groups has its own center chief and center group leader (Khan, Rehman, 2007). According Sengupta, Aubuchon (2008), first time, bank granted loan $100 and bank require to repayment of 10 percent amount, at rate of per annum, weekly. This repayment ensures to user for loan security, and also encourages them for savings. Along with five percent of loan deposited in group account for emergency and social need. For example, in case of need of health care of any one member, in case of emergency, this five percent deposit will be use. A unique and innovative approach of group lending is used in Garmeen Model. As Sengupta, Aubuchon (2008) described that group lending have many benefits. First, group usually organize in members who are neighbor to each other, those can understand each other well and recognize their needs. Second, if anyone of group member will not present in group meeting, leader or other member can pay its installment. We can say that there is a kind of mutual understanding between all members. Third, in south Asia generally, and in Bangladesh specially, there are social pressures among members of society with social bindings with them. If one member of group will not pay even one installment, social pressure will be levied from all eight groups on this member and this reduces the risk factor. 2.4.2 Banco Sol Model Grameen model of microfinance emphasize on lending to villagers and keep loan lending on in smaller amount. The other core concept of model is formation of groups and these groups are eligible to take loan, no option of loan for individuals. Idea of progressive lending introduced to lend loan to individuals with group lending (Agion Morduch, 2005, pp.119). In this model after completion of every repayment schedule the amount of loan increased. But other characteristics of Grameen model (Group lending) are included in this method, like targeting to poor, women, group formation, and public payment. No doubt, progressive lending is an extension of group lending but now many MFIs are adopting this approach. In this model of Progressive lending, microlenders are flexible about collateral and lend loan to group with individuals also. This method is very helpful in areas with low population densities or highly diverse population where group forming is not so easy due to different ratio of safe and risky borrowers. In Bolivia, there was different situation when populist regime left government and there was high ratio of unemployment in urban areas. To come to fulfill the need of time, Banco Sol started operations in microfinance with progressive lending. Therefore we can say that microfinance approaches are evolved due to different political, ideological and social conditions. In Weiss Montgomery (2004, pp.3) Microfinance in Latin America developed under quite different conditions. In Bolivia, a collapsing populist regime led to widespread unemployment. Banco Sol, a pioneering microfinance institution in the region, developed to address the problem of urban unemployment and provide credit to the cash-strapped informal sector. The notion of commercial profitability was embraced relatively early in this approach. 2.5 Empowerment Poverty effects not only on individual’s life but also on society as a whole. Poverty is one of the main reasons in cause of less empowerment of poor especially in developing countries. Empowerment is a broad concept to define because there are many elements involve in it. These elements influence by including political, social and power system in the country. Empowerment covers many issues and when there is discussion on empowerment it includes many elements. These elements are, self-strength, control, self-power, self reliance, own choice, life of dignity, fighting for rights, independence, decision making, being free, capability , access to basic human needs etc.(PREM,WB, 2002). Misra (p.3) describes empowerment as a power to the people and self governance. He define that Empowerment builds self-reliance and strength in women, preparing them towards gathering the ability to determine the choice of life. This adds to the command over resources outwit insubordination and signify their social role. Empowerment is about change, choice, and power. It is a process of change by which individuals or groups with little or no power gain the power and ability to make choices that affect their lives. Due to different social, political, economical conditions, we can not define a one definition for empowerment. According to Batliwala (Makombe, 2006, p.52), empowerment mean, take control over material assets, intellectual resources, and ideology. The material assets over which control can exercised may be physical, human, or financial, as land water, forests, people’s bodies and labor, money and access to money. Intellectual resources include ideas and knowledge information. Control over ideology signifies the ability to generate, propagate, sustain, and institutionalize specific sets beliefs, values, attitudes, and behavior-virtually determining how people perceive and function within a given socio-economic and political environment. Empowerment is the expansion of assets and capabilities of poor people to participate in negotiate with, influence, control, and hold accountable institutions that affect their lives. (PREM, WB 2002, p.11) define that A strategy for empowerment is taken at individual, government, civil society and private sector level. Usually these efforts lead to empower people in context of sharing of power, freedom of information, access to resources and health and education services. These strategies normally share four types of elements: First, Access to information, its mean every citizens including poor have direct access to information because information is power. Second, Inclusion/participation, that’s mean there should be opportunities for poor that they can participate in decision making and they should be included in all financial and political policies. Third is accountability, that’s mean officials, public servants, private actors should be accountable not only to some specific institutions but to their citizens for performance. Fourth and last one Local organizational capacity, its mean that people can work together, organize themselves, mobilize and utilize resources and solve problem at community level (PREM, WB (2002). 2.6 Entrepreneurship It is one of the most widely used terms in business, management, economics and other related fields. One of important thing is that entrepreneurship has different meaning for different people, some use it in the meaning of innovation, some use for creativity, risk taking, leadership, and profit maximization or in social context, and some consider it as start up of business, new production methods and many other different meanings. Davidsson, (2004) describes it that entrepreneurship is rich phenomenon which makes it a resourceful field. While defining entrepreneurship, I consider some school of thoughts that have major role to define this field. According to Schumpeter school of thought (Swedburg, 2000), Entrepreneurship is about innovation in organizational process, thinking up new combination, entrepreneurial behavior and motivation of entrepreneurs. While according to Gartner (Thornton, 1999), entrepreneurship is about creation of new organization or new startup, creating values and entrepreneur mean owner-manager. In Krizner’s view, entrepreneurship is searching opportunities and exploiting them so it reflects towards the alertness capability of entrepreneur towards profit opportu Entrepreneurship and Microfinance Impact on the Poor Entrepreneurship and Microfinance Impact on the Poor Chapter One: Introduction Background Around the world economies have experienced high growth and financial systems have undergone major transformation, a significant number of people especially in the developing countries do not have access to finance. Policy makers have increasingly promoted the use of microfinance as a tool to eradicate poverty and implement financial inclusion strategies. Pakistan being a developing country is no exception to this, having a large number of people that are poor with limited recourse to livelihood. Though limited in its scope, microfinance in Pakistan has been able to bring some of the large number of unbanked people into the banking network and has also helped in improving their socioeconomic condition (SBP ILO, 2009). About 90 % of the people in developing countries lack access to financial services from institutes, either for credit or saving, which further fuels the â€Å"Vicious Cycle of Poverty† in Figure 1. A lack of assess to financial institutions also hinders the ability for entrepreneurs. Microfinance serves as a means to empower the poor and provides a valuable tool to assist economic development process. Pakistan is fourth most populous country in Asia and sixth in the world. Having an average annual growth rate of 2.02 percent the population of the country reached 160 million in 2007 as compared to 139 million in 2002. Two third of the population is living in rural areas and the working age population (15-60 years) is increasing which was 51% in 1998 and 57% in 2008 (SBP, 2008). In 2008, about 24% population is living under the line of poverty which was 34.46% in 2002. There is significant increase in economic growth and improvement in Social Sector Development. Now Pakistan has shifted from Low Human Development group to the category of Medium Human Development (Global Monitoring Report, 2007). Despite all these improvements, poverty is a major issue which every government is combating against. Pakistan is a country with high population growth and increasing ratio of labor force. According to Economic Survey 2007-08, Pakistan has 51.78 million active labor forces while 2.69 million out of this is unemployed. If we look unemployment gender wise, despite of women ratio of population which is 49.6%, ratio in labor force is only 25% (10.08 million out 51 million) of total labor force. Government of Pakistan has taken many steps to increase women participation in labor force, still women ratio is very less to over all labor force and it is not matching to world standards and trends about women participation in business and job opportunities (SBP, 2008). All these facts show potential to work in microfinance to encourage people and specially women to develop their own entrepreneur so that men in general and women specially can contribute a productive part of society to make it a sustainable. To combat unemployment, only big companies or public sector are not enough for job creation but it would be better if people start their own business for making society productive. Microfinance is being recognized by different researchers as an effective tool to fight poverty by providing financial services to those who do not have access to or are neglected by the commercial banks and financial institutions. Microfinance has been successfully implemented by Grameen Bank. Back to 1976, Mohammad Yunus took initiative of lending loans by developing solidarity group of women in Jobra village, Bangladesh. Many MFIs has adopted idea adding with new strategies and now serving poor in effective way. Now Garmeen Model is a successful approach of microfinance. Microfinance is being considered as one of the most essential and an effective driving force for poverty reduction and alleviation. Kashf case attracted me because Kashf believes in a world where financial inclusion is a possibility and where poor women are fully engaged in realizing the economic dreams of their families. Kashaf vision of â€Å"Financial Services for All† posits a miracle for transforming the role of women in society and for making a poverty free world a reality. Statement of Problem Although social entrepreneurship plays great role as looking to the world real and see clearly what is happening, feel responsibility for financially weak people and help them as much as they can. It is also a big challenge to the entrepreneurs and organizations that they should take steps to eliminate unbalance between different levels in society. In other way, this thought encouraged me to choose this problem. I think that empowerment of poor people by microfinance and with combination of micro entrepreneurship is a great idea. You can never help people just giving money. But you can help people giving them job and help to create their small businesses in order to optimize their share of production to the society. All these issues lead to research on this topic that how microfinance is contributing for entrepreneurship in low income communities of developing countries, how sustainable society is evolving as the result of doing own business in low income communities and how Kashf’s way of microfinance is supporting all of this process. Research Objectives To be meaningful, every work must have to formulate the objectives of the study (Mark Saunders, Philip Lewis, Andrian Tronhill, 2007). Although most of research has been done either microfinance or entrepreneurship separately. But in my opinion there is close relationship between microfinance and entrepreneurship. As social entrepreneurship is doing a lot for credit pool of MFIs with social services, micro entrepreneurship can be found in micro enterprise. As per research topic the objective is research on the issue that how do microfinance and entrepreneurship work for poverty alleviation and empowerment of poor. Research Questions The study was conducted with the guidance of the following questions. How microfinance is contributing for entrepreneurship? How do microfinance and entrepreneurship work for reduce poverty, empower poor in Pakistan? How do microfinance entrepreneurship work for sustainable development in Pakistan? Research Methodology The research methodology of this paper will be qualitative. My work is covering two main topics; entrepreneurship and microfinance with discussing three factors; poverty reduction, empowerment of poor and sustainable development. In this paper data collection techniques are used, interviews as primary source and internet, web pages, articles, annual reports, books etc.) as a secondary source. The research type will use deductive and empirical data will analyze by the help of conceptual framework, develop after literature review. Significance of The Study A lot of research is doing on Entrepreneurship and Social Entrepreneurship because it is emerging thread in business. On microfinance and entrepreneurship much research work has been while discussing in Grameen model. For both fields in terms of combining microfinance and entrepreneurship this research will lead a new horizon. It will also give a vision, to Kashf that how they can improve microfinance lending process, and other Microfinance institutions (MFIs) that how they can develop process in more effective way. Further, students, researchers in Microfinance field, NGO’s and Governmental organizations can extend research in this area to address the issue of poverty alleviation and empowerment of poor. Assumptions Limitations The assumption of this research is that all information, written in the reports, news, web page true and can be used fairly. The study does not cover all the aspects that the promotion of microfinance requires. It was difficult to organize interviews at large scale from borrowers due to distance problem between Pakistan and The Netherlands and this can reflect limited information about micro entrepreneurship. I primarily focused on microfinance and entrepreneurship role in reduce poverty and empower people. Organization of Study The thesis will consists of six chapters and will be organized in the following manners: Chapter One: Introduction: Briefly introduces the background information of the study. In addition, it consists of, statement of the problem, research objectives, and research questions to be addressed, significance of the study, research methodology, scope and limitation of the study. Chapter Two: Literature Review: Describe different theories and readers will look on previous research on the research topic. Also, discuss microfinance, its different models and how microfinance contributes in poverty alleviation, and theories about entrepreneurship and social entrepreneurship. Chapter Three: Theoretical Framework and Research Methodology: It will be building a theoretical framework that will use while analyzing empirical data. Chapter Four: Empirical Findings: It will present empirical data collect through borrower’s interviews and Kashf’s administration. Empirical daa is including facts and figure about poverty, unemployment, economy and microfinance. There is also detail information about Kashf Foundation. Chapter Five: Analysis of Data and Interpretation: It will present analysis regarding need of interactive strategy of microfinance and entrepreneurship, social services and intermediation by Kashf and sustainability issue. Chapter Six: Conclusions: Finally findings and conclusions will be put in the light of previous discussions. Chapter Two: Literature Review 2.1 Introduction The extent to which microfinance, entrepreneurship and sustainability are interrelated is dependent on the extent to which it addresses the economic development process. Yunus (1994), claims, â€Å"If we are looking for one single action which will enable the poor to overcome their poverty, I would go for credit. Money is power.† Credit invested in an income-generating enterprise as working capital or for productive assets leads to establishment of a new enterprise or growth of an existing one. Profit from the enterprise provides income, and a general strengthening of income sources. A variety of financial institutions, worldwide, have found ways to make lending to the poor sustainable and to build on the fact that even the poor self-employed repay their loans and seek savings opportunities. The challenge is to build capacity in the financial sector drawing on lessons from international best practices in micro, small enterprises and rural finance. The extent to which microfinance, entrepreneurship and sustainability are interdependent is becoming increasingly recognized by experts in their respective fields of work, associated with economic development. Over 500 million poor people around the world run profitable microenterprises and often cite credit as the primary constraint to business growth (IFC, 2002). Robinson (2002), a prominent expert in the field of microfinance, notes that â€Å"The formal sector has begun to realize that financing the poor can be both economically and socially profitable.† 2.2 What is Microfinance? Poor people are not able to access loans from commercial banks normally because of lack in guarantee and collateral. But there are also many other reasons involved for which commercial banks were not willing to finance poor. These reasons are included that poor have less education, experience and training, high expenses on transactions of small loans and lower rate of profit. This situation resulted in emerging the idea of micro lending and microfinance. Microfinance, therefore, a way to finance people, those have no collateral or any property for guarantee. Microfinance is a way of financing to poor for their business, to alleviate their poverty, empowering them, giving social benefits on sustainable way. Due to microfinance, there are many possibilities have emerged including extending markets, reducing poverty and fostering social change (Agion Morduch, 2005, pp.3). But there is general concept that microfinance is just lending loan to poor but as I mentioned that microfinance is no more only loans but covering the issues of poverty alleviation, putting social impact on poor and educating poor to savings. Therefore, MFIs, today, not only NGOs but serving as a complete banking system. This discussion lead to me that microfinance is a form of financial services for poor to help them for their business activities by giving micro credit. There is no one universal accepted definition of microfinance as different related variables like poverty, lone size, the poor and the poverty line carry different meanings in different countries. Different authors have defined the term in different ways. According to CGAP, Access to financial services puts power into the hands of poor people. Evidence shows that when poor people have financial services, they use their savings or loans to improve their families’ lives in a variety of ways: sending their children to school, buying better medicines and more nutritious food, fixing a leaky roof, meeting social and cultural obligations like paying weddings and funerals, and building income generating potential by investing in business (CGAP 2007). Microfinance has evolved as an economic development approach intended to benefit low-income women and men. The term refers to the provision of financial services to low-income clients, including the self employed (Ledgerwood, 2000, pp.1). While according to ADB (2008) Microfinance is the provision of a broad range of financial services such as deposits, loans, payment services, money transfers, and insurance to poor and low-income households and, their microenterprises. These definitions are elaborating that microfinance is a financial services but designed specifically for poor to improve their lives in sustainable way. 2.2.1 Microfinance Activities Economic activities are based upon sellers and buyers and their capacity. Sellers, before market their product, look at buyer intention and capacity. On the other hand, banking activities depend on both sellers and buyers. Financial institutions/lenders finance both sellers and buyers for their activities and commercial banks invested in projects at large scale while with this, banks invested in consumer finance also. Usually MFIs don’t invest in consumer finance, but give finance only for micro enterprise. MFIs encourage people to improve their standards by doing businesses and earning from them and this is a consistent and sustainable way. In fig (2), microfinance is dedicated only to poor and explicitly for business activities. But with this, there are some indirect impacts of microfinance on the micro borrower which are alleviation of poverty, improvement in healthcare, increase in literacy and other social impacts. These figures are taken from Ledgerwood, 2000. Figure 1: Economic Activity by Commercial Banking Figure 2: Economic Activity by MFIs There are many activities and characteristics are included in microfinance. Some are (Ledgerwood, 2000, pp.1): Small and short term loans Social collateral rather than financial collateral Access to larger amount of loan if repayment performance is positive Search and access the real poor and their business demand Continuous monitoring of business. Higher interest rates on loan due expensive financial transactions and risk factor. Easy way to access finance, therefore not too much paper work, and easy and short procedures. Saving Services and training services to borrower’s development. Literacy training to borrowers so that they can come up with competence to daily business problems and its solutions. Health care, social services and other skill training services to provide borrower a sustainable base for their business development. 2.3 Microfinance A Developmental Tool Due to lack of financial resources in developing countries, people from low income communities while having innovative idea for their business, even as shop keeper or house hold products manufacturer, they can’t implement their ideas. This low economic activity in low income communities due to lack of financial resources lead them to more poverty and poor life standards. Generally financial services cover savings and credit activities and there is same concept about MFIs. But according to Ledgerwood (2000), MFIs work for general financial services with this they provide insurance and payment services to their clients. But important aspect of MFIs is not only financial intermediation but also providing social intermediation and social services to their clients. Social intermediation and social services contain many activities including trainings, management development, and financial literacy activities. Furthermore, many MFIs, arrange get together where experienced people guid e others, where they give useful suggestions, tips and other tactics for their business. Microfinance is providing financial services along with social services. Normally, social services are not applicable in general banking system. So, microfinance is not simply banking system but development tool, combining both financial and social intermediation (Ledgerwood, 2000). 2.3.1 Different Services by MFIs Financial Intermediation The primary objective of MFIs is financial intermediation because without loan/money social intermediations can not work. As prior discussions that poor face barriers to access finance from general financial service institutions. In this regard, MFIs become a bridge to access finance and in result to poverty alleviation, health care and education literacy (Ledgerwood, 2000). MFIs provide many financial services including credit, savings, insurance credit cards, payment services etc. It is not necessary that every MFI should facilitate their customers by all these services but MFIs can facilitate anyone of these services or all. The choice of which financial services to provide and the method of providing these services depend on the objectives of MFI, the demands of its target market and its institutional structure (Ledgerwood 2000, pp.66). Social Intermediations Social intermediations for individual whose social and economic disadvantages place them beyond the frontier of formal finance (Von Pischke 1991). A successful financial intermediation is often accompanied by social intermediation. It covers the issues of group formation, leadership training and cooperative learning, is secondary role of microfinance for borrowers of MFIs. Development in Social capital is a basic ingredient of sustainable development in poor’s life and especially in society. Social intermediation is process of building the human and social capital required by sustainable financial intermediation for poor (Ledgerwood 2000, pp.64). Now question rise, how social capital be acquire and strengthen? Social capital is actually links between clients of a group and multiple groups, and between MFIs and borrowers. These links establish on the basis of strong foundation of trust and cooperation (Agion Morduch, 2005). The ratio of social capital will increase with increase in business activities among members, and financial transaction between lender and borrowers. It is normally developed through group activities but there are other ways to develop it by individually. In group social intermediation, activities perform inside the group with some help from outside to develop institutional capacity and human resource. In group, most of members belong from remote areas, having less literate and experience about business and financial transaction. So from group formation to selecting leader, developing networks and working mutually, MFIs support borrower to deal with these issues. Therefore, these members need training in record keeping, book keeping, accounting, training about business activities and tactics, and negotiation skills (Ledgerwood,2000). Enterprise Development Services Micro finance institutions (MFIs), not all, support to borrowers, either in group or individual in different enterprise development services like marketing, business and accounting training etc. This service can be divided in to two parts, enterprise formation and enterprise transformation. In enterprise formation, MFIs provide technical support to group or individual in start up of business, development and maturing ideas and maturing the skills. During in transformation of enterprise, MFIs arrange trainings for their borrowers, workshops and get together for developing latest skills in their business area (Ledgerwood, 2000). Figure 3: Minimalist and Integrated Approaches to Microfinance (Ledgerwood, 2000, pp.65) Minimalist Approach Integrated Approach One-missing piece Financial and non financial Credit Services Financial Intermediation Working Capital Fixed asset loans Savings Insurance Social Intermediation Group formation Leadership training Cooperative learning Social Services Education Health and Nutrition Literacy training Enterprise Development Service Marketing Business training Production training Social Services Microfinance practitioners define that, poverty can be addressed by financing poor for productive activities which in result comes up to their access to life necessities. But financial lending is only a one tool to poverty alleviation. Poor needs more than microfinance to address the problems of poverty and accessibility to other life needs like food, health, family planning, education, social support network and so on. In Ledgerwood (2000) MFIs serve to their clients with additional social services with financial intermediation. The best way to contact with their clients is in the form of group, that is the easy way to literate them, giving health care and other facilities. So in this way, MFIs would positive effect in the life of poor by offering financial services with supportive services. These supportive services, actually, play important role in sustainable human development and livelihood of the poor (Khan, Rahman, 1998). Social service should not implicate with financial or social intermediation because financial intermediation is primary service providing by MFIs. That means, there should be no additional cut off from loans in account social service but it should be provide by secondary means or by subsidies (Ledgerwood, 2000). 2.4 Microfinance Models The term model refers to â€Å"service delivery methods and microfinance products†. There are now nearly 70 million poor people who are getting benefits from 2500 MFIs in over 100 countries by microfinance (Sengupta, Aubuchon (2008). The poor’s conditions are different in different countries in world. These conditions are related to social, ideological and political issues (Weiss, Montgomery, 2004). Therefore, there are some distinctive differences between approaches and motive of microfinance. I will see briefly two approaches, which is very famous Grameen Model, originated from Bangladesh and other is Banco Sol Model, Bolivia. 2.4.1 Grameen Model In Grameen model, primary unit to whom lending fund is a group of 5 members that organize and apply for loan. In first stage loan is granted for two members to invest in their business. If these two members become successful to repay amount, then four to six weeks later, next two members are granted for loan. Last one member will be eligible for loan if previous two repay loan successfully. Repayment of loan open door for next loan and then go on if all members repay loan successfully. If anyone of group member will default in their loan, whole group will disqualified for further loan. Each group has its own president and secretary to coordinate all activities among their own group and to communicate and coordinate with other groups. Eight groups are then organized at center level, by which a bank officer deal with these all eight groups. This center of eight groups has its own center chief and center group leader (Khan, Rehman, 2007). According Sengupta, Aubuchon (2008), first time, bank granted loan $100 and bank require to repayment of 10 percent amount, at rate of per annum, weekly. This repayment ensures to user for loan security, and also encourages them for savings. Along with five percent of loan deposited in group account for emergency and social need. For example, in case of need of health care of any one member, in case of emergency, this five percent deposit will be use. A unique and innovative approach of group lending is used in Garmeen Model. As Sengupta, Aubuchon (2008) described that group lending have many benefits. First, group usually organize in members who are neighbor to each other, those can understand each other well and recognize their needs. Second, if anyone of group member will not present in group meeting, leader or other member can pay its installment. We can say that there is a kind of mutual understanding between all members. Third, in south Asia generally, and in Bangladesh specially, there are social pressures among members of society with social bindings with them. If one member of group will not pay even one installment, social pressure will be levied from all eight groups on this member and this reduces the risk factor. 2.4.2 Banco Sol Model Grameen model of microfinance emphasize on lending to villagers and keep loan lending on in smaller amount. The other core concept of model is formation of groups and these groups are eligible to take loan, no option of loan for individuals. Idea of progressive lending introduced to lend loan to individuals with group lending (Agion Morduch, 2005, pp.119). In this model after completion of every repayment schedule the amount of loan increased. But other characteristics of Grameen model (Group lending) are included in this method, like targeting to poor, women, group formation, and public payment. No doubt, progressive lending is an extension of group lending but now many MFIs are adopting this approach. In this model of Progressive lending, microlenders are flexible about collateral and lend loan to group with individuals also. This method is very helpful in areas with low population densities or highly diverse population where group forming is not so easy due to different ratio of safe and risky borrowers. In Bolivia, there was different situation when populist regime left government and there was high ratio of unemployment in urban areas. To come to fulfill the need of time, Banco Sol started operations in microfinance with progressive lending. Therefore we can say that microfinance approaches are evolved due to different political, ideological and social conditions. In Weiss Montgomery (2004, pp.3) Microfinance in Latin America developed under quite different conditions. In Bolivia, a collapsing populist regime led to widespread unemployment. Banco Sol, a pioneering microfinance institution in the region, developed to address the problem of urban unemployment and provide credit to the cash-strapped informal sector. The notion of commercial profitability was embraced relatively early in this approach. 2.5 Empowerment Poverty effects not only on individual’s life but also on society as a whole. Poverty is one of the main reasons in cause of less empowerment of poor especially in developing countries. Empowerment is a broad concept to define because there are many elements involve in it. These elements influence by including political, social and power system in the country. Empowerment covers many issues and when there is discussion on empowerment it includes many elements. These elements are, self-strength, control, self-power, self reliance, own choice, life of dignity, fighting for rights, independence, decision making, being free, capability , access to basic human needs etc.(PREM,WB, 2002). Misra (p.3) describes empowerment as a power to the people and self governance. He define that Empowerment builds self-reliance and strength in women, preparing them towards gathering the ability to determine the choice of life. This adds to the command over resources outwit insubordination and signify their social role. Empowerment is about change, choice, and power. It is a process of change by which individuals or groups with little or no power gain the power and ability to make choices that affect their lives. Due to different social, political, economical conditions, we can not define a one definition for empowerment. According to Batliwala (Makombe, 2006, p.52), empowerment mean, take control over material assets, intellectual resources, and ideology. The material assets over which control can exercised may be physical, human, or financial, as land water, forests, people’s bodies and labor, money and access to money. Intellectual resources include ideas and knowledge information. Control over ideology signifies the ability to generate, propagate, sustain, and institutionalize specific sets beliefs, values, attitudes, and behavior-virtually determining how people perceive and function within a given socio-economic and political environment. Empowerment is the expansion of assets and capabilities of poor people to participate in negotiate with, influence, control, and hold accountable institutions that affect their lives. (PREM, WB 2002, p.11) define that A strategy for empowerment is taken at individual, government, civil society and private sector level. Usually these efforts lead to empower people in context of sharing of power, freedom of information, access to resources and health and education services. These strategies normally share four types of elements: First, Access to information, its mean every citizens including poor have direct access to information because information is power. Second, Inclusion/participation, that’s mean there should be opportunities for poor that they can participate in decision making and they should be included in all financial and political policies. Third is accountability, that’s mean officials, public servants, private actors should be accountable not only to some specific institutions but to their citizens for performance. Fourth and last one Local organizational capacity, its mean that people can work together, organize themselves, mobilize and utilize resources and solve problem at community level (PREM, WB (2002). 2.6 Entrepreneurship It is one of the most widely used terms in business, management, economics and other related fields. One of important thing is that entrepreneurship has different meaning for different people, some use it in the meaning of innovation, some use for creativity, risk taking, leadership, and profit maximization or in social context, and some consider it as start up of business, new production methods and many other different meanings. Davidsson, (2004) describes it that entrepreneurship is rich phenomenon which makes it a resourceful field. While defining entrepreneurship, I consider some school of thoughts that have major role to define this field. According to Schumpeter school of thought (Swedburg, 2000), Entrepreneurship is about innovation in organizational process, thinking up new combination, entrepreneurial behavior and motivation of entrepreneurs. While according to Gartner (Thornton, 1999), entrepreneurship is about creation of new organization or new startup, creating values and entrepreneur mean owner-manager. In Krizner’s view, entrepreneurship is searching opportunities and exploiting them so it reflects towards the alertness capability of entrepreneur towards profit opportu