Lithle Swot Analysis

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Contents: Theme 1 Introduction………………………………………………………………………………....3 Entrepreneurship………………………………………………………………………….....3-4 Theme 2 Analysis of the profile of Lithle Izulu Enviro Care…………………………………………5 Analysis of the Business Environments……………………….............................................5-7 • Micro Business Environment…………………………………………………........ 5-6 • Market and Macro Environment…………………………………………………… 6-7 SWOT Analysis…………………………………………………………............................. 5-7 • Strengths, Weaknesses (internal)……… ………………………………………… 5-6 • Opportunities, Threats (external)… ………………………………………………. 6-7 Analysis of Lithle Izulu Enviro Care as a whole ……..……………………........................ 8 Conclusion…………………………………………………………………………………. 8 Reference List…………………………………………………………………………….. 9…show more content…
This process allows for newer, more innovative ideas to be adopted and adapted within a business environment for newer products, services, methods of production, and overall productivity to be improved. According to Toma. S. and Grigore, A. and Marinescu, P. (2014) “Several dynamic forces, such as technological disruption, fluctuating economies or demographical changes, have brought new opportunities and threats for organizations, and transformed societies from all over the world.” Factors that affect entrepreneurship, according to Farouk, A. and Ikram, A. (2014) include “motivational, the need for achievement, the need for autonomy, a passion to develop its own idea, individual characteristics, work experience, and teaching.” These factors will have an effect on the opportunities presented to an entrepreneur, as well as how effectively the entrepreneur can act upon these…show more content…
With the introduction of new ideas, products, services or even methods of production using new technologies, the economy is able to benefit and perhaps grow. Entrepreneurship is able to contribute towards job creation, within the short or long run. With new ideas and opportunities, comes the need for human resources and thus new jobs are created. The need for labour therefore decreases the rate of unemployment within that specific country, thus having a positive effect on the economy. However, according to Carree, M.A. and Thurik, A.R. (2002) the relationship between unemployment and entrepreneurship is unclear. In one aspect, some believe that unemployment sparks initiative which results in entrepreneurship. However, another aspect believes that entrepreneurship has a positive effect on the creation of job opportunities, which thus decreases unemployment rate. Entrepreneurship is also able to improve an economy through the actual products, services and technology that is introduces into a market. These new ideas boost economic growth. Innovation also creates a sense of competition within the market, which allows for the entrepreneurs involved to become creative under pressure. Competition is necessary in order to encourage either existing, or new entrepreneurs to constantly grow and improve, which once again improves the economic situation. AlexAnder S. KritiKoS,

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