ipl-logo

The Importance Of Entrepreneurship In South Africa

1222 Words5 Pages

usiness management
BMA1A Written Assignment
Marco Pisanello
215003625
Mr. John Davids
Due: 30 April 2015

Table of contents

Introduction Page 1
Development and growth of economy Page 1
Profile of organisation Page 4
Assessment of the business Page 6
Reference list Page 7

Introduction
In this assignment I will be discussing how important entrepreneurship is for the development and growth of the economy of South Africa. I will also be analyzing and evaluating a local business in the area (Honeydew Liquor City) and determine whether this business is doing well or not given the analysis that will be done on the profile of the business.

Development and growth of the economy
Entrepreneurship is vital for the success for the South African economy as entrepreneurship is a behavior on focusing on opportunities in the market and can happen in Small, Micro and Medium enterprises ( SMME’s). Small businesses have a huge affect on employment, Social and Political stability. According to Drotskie, Nieuwenhuizen and Oosthuizen, 2014, there is a positive link between entrepreneurship and economic growth.
Employment is closely linked to the state of the economy as, if the economy is stable and in a good position, this will encourage future entrepreneurs to seek for new opportunities in the market and try to start a business. Where as if the state of economy is low and deteriorating this will affect the entrepreneurs in looking for new opportunities

Show More
Related

  • Positive Disadvantages Of Capitalism

    1288 Words  | 6 Pages

    In reality, the way to keep those unsuccessful entrepreneurs in business does not make any benefit, yet, it is an obstacle to new and proficient producers to enter the business. The growth of business and prosperities of the country cannot be achieved by them (Ringer 151). Apart from the negative effects of government participation in business as stated above, capitalism, besides, is not a selfish economic system and not completely leads to societal inequity since it

    Read More

  • Unit 4 Economic Systems P3

    1489 Words  | 6 Pages

    Creates large scale employment opportunities- entrepreneurs provide immediate large scale employment to the unemployed which is a chronic problem of underdeveloped nations. II. Improvement in the standard living- entrepreneurs play a key role in increasing the standard of living of the people by adopting latest innovations in the production of wide variety of goods and services in large scale that too at a lower cost. III.

    Read More

  • Foreign Direct Investment Case Study

    980 Words  | 4 Pages

    Small market size country will lose its competitiveness in comparison to other countries in attracting most investors (Medvedev,

    Read More

  • How Does The United States Benefit From Schools

    1201 Words  | 5 Pages

    The first being the economy and the second being jobs and job growth as a whole. Entrepreneurship is “a vital role player in the growth of the U.S. economy” “Bureau of Labor Statistics”. When schools discourage entrepreneurship it may not have an immediate effect on the country but over time a noticeable decline in job growth as well as economic growth will be seen. In the United States “Over the past two decades, new establishments have created an average of more than four million new jobs per year” (Mills). In order for the country to prosper this number needs to continue to increase in the coming years.

    Read More

  • A Term Paper On Poverty

    1291 Words  | 6 Pages

    What is Poverty? Poverty is somewhat difficult to define in universal terms and is often impossible to put together figures or amounts to it. Poverty is a relative term because it can either illustrate the condition of an individual or a family, or it can describe an entire community or society. (H. Swanepoel and F. de Beer, 2011).

    Read More

  • Overview Of Bread Head On Wheels

    2097 Words  | 9 Pages

    The work and vision of entrepreneurs and small business startups are one of the biggest drivers of economic growth in the United States. This economic growth is driven through the entrepreneurs’ creation of new businesses, which creates new jobs, technology, innovation and processes (Acs, 2006). The entrepreneur takes advantage of disequilibrium in the market by creatively taking advantage of the gaps between what the market currently offers and what

    Read More

  • Entrepreneurship And Strategies

    716 Words  | 3 Pages

    Leadership, Entrepreneurship, and Strategy Cameron Allen Dimapasoc Ameigh Principle of Business Management University of the People February 4, 2018 Leadership, Entrepreneurship, and Strategy are all integral parts in the principle of management. Let’s dive in a little deeper and explore the different definitions leadership, entrepreneurship, and strategy have, and compare them. In our text, Management Principles, v. 1.1, the definitions are as follows: Leadership is the act of influencing others toward a goal. Entrepreneurship is the recognition of opportunities (needs, wants, problems, and challenges) and the use or creation of resources to implement innovative ideas for new, thoughtfully planned ventures. Strategy

    Read More

  • Keynesian Unemployment Theory

    1394 Words  | 6 Pages

    1 Introduction About 400 year b.c.e. , Greek historian and philosopher Xenophon was first to use in his writings the word economy (oeconomicus) – which in translation means managing the household. Despite the name, economic ideas were and remained an integral part of the entire society. From antique to Greece today, the economy, as a social science, traded, developed and shaped under the influence of current of occurrences, changes and needs of the people.

    Read More

  • Swot Analysis Of Lithle Izulu Enviro Care

    944 Words  | 4 Pages

    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.

    Read More

  • Positive Effects Of Unemployment

    1255 Words  | 6 Pages

    Unemployment or the unemployment rate is a commonly used tool to gage the well-being and condition of the economy. Unemployment occurs when an individual who is vigorously seeking employment is unsuccessful at finding a job. Calculating the number of individuals who fall within the unemployment category then dividing that number by the total amount of individuals within the workforce will represent the unemployment rate. Economist’s breakdown unemployment into various different classifications such as fictional unemployment, cyclical unemployment, and structural unemployment which further assists in explaining the cause and effect of overall unemployment and how they affect full employment. Frictional unemployment or search unemployment is often considered to be a short-term version of unemployment but is always existing or present.

    Read More

  • Recession Negative Effects

    1066 Words  | 5 Pages

    Although recession brings a lot of negative effects, there also have some of the positive effects of the recession will be highlighted in this part of the assignment. This section will show the different benefits of the recession, also ways on how to realize these benefits. First, with the help of recession, the entire economy will lead to a better and wider economy. People will be able to spend as well as save for their better future.

    Read More

  • Personal Statement

    656 Words  | 3 Pages

    My familiarity with entrepreneurship has originated with informational classes taken. A few years ago, I took the opportunity to become educated about the world of economics. Prior to taking this class, I did not have any knowledge of businesses and the factors that went into creating them. But, by taking this class, I learned useful information about the economy and how it is beneficial to the world, which helped me gain knowledge on how business leaders become successful.

    Read More

  • Entrepreneurship In The Philippines

    870 Words  | 4 Pages

    Entrepreneurship takes the economy and the society to the state of progress and prosperity. New businesses can create new jobs and therefore will increase the employment rate of the nation. This will also generate income to the entirety of the nation. People who pursue entrepreneurship can generate new ideas which will provide a diversity of offerings for the consumer (Ramos, 2014).

    Read More

  • The Role Of Capitalism In South Africa

    2067 Words  | 9 Pages

    Marxism refers to the body of ideas first worked out by Karl Marx. These ideas shape a theoretical basis for the struggle of the working class to a higher form of human society (Sewell et al., 2008). Capitalism on the other hand, is the social structure that emerges on the basis of the social relationship between the consumers and the sellers of labour power (Ritzer, 2000). This essay will discuss the preconditions for capitalism, which include: commodities, surplus value and labour power. The contradictions of capitalism such as; alienation, exploitation and the decline in human development and will also be discussed, as well as contemporary examples of these found in South Africa.

    Read More

  • Entrepreneurial Industry Model

    819 Words  | 4 Pages

    7.0 Entrepreneurial Industry as a mean of economic growth model In their research, Arcs and Armstrong (2003) have established the strong positive correlation between entrepreneurship and employment growth. It also considered as a vehicle to incorporate human capital, enhancing research and development and bring along innovation in an economy (Glaser, 2006). As per Schumpeter’s concept of entrepreneurship, the advancement of the entrepreneurship industry is a valid indicator of innovation.

    Read More

More about The Importance Of Entrepreneurship In South Africa

Open Document