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– 46 –
a study prepared by accountants Ernst and Young and the Cranficid
School of Management. «Not all entrepreneurs are cast in the same
mould. Indeed it would be an extremely dull world if they were. Almost
by definition they defy categorisation.
«Some have a strong sense of humour, some none; some thrive
on publicity and adulation, others are virtual hermits; some have an
overwhelming need for power, others for creativity; some need the
trappings of wealth, others lead very simple lives. Whatever the
difference is, there is one factor which all successful entrepreneurs
have in common — they and their firms are always on the move».
It must be appreciated that management skills can be learned
whereas entrepreneurial ability is a matter of flair; either you have it
or you don’t. Business requires both skills, the flair of the entrepreneur
and the solid competence of the manager. It is dangerous to generalize
but some of the characteristics of the entrepreneur, in contrast to the
manager, are: belief in himself and his business; belief in wealth and
material gain; and belief in delegation.
Entrepreneurial talent and management skills may not both be
present in the one person. This may lead to the idea of partnership
and, indeed, as the business flourishes and expands, the creation of a
management team.
The British Enterpreneur encompasses the results of a survey of
the views of owner-managers of the top 100 entrepreneurial firms in
the UK. One of the questions asked was «what are the critical factors
for success?» The answers came under three main headings:
Marketing:
A unique product; an innovative approach; a good fundamental
idea; aggressive sales and marketing strategies; active selling; quality;
price; heavy marketing investment.
Management:
Dedicated senior management; hard work and commitment of
staff; tight financial controls; cash flow; investment for the long term;
regular views and overhaul of the management structure; disciplined
and cost effective management of employees; unwavering and total
support from initial backers.
a study prepared by accountants Ernst and Young and the Cranficid
School of Management. «Not all entrepreneurs are cast in the same
mould. Indeed it would be an extremely dull world if they were. Almost
by definition they defy categorisation.
«Some have a strong sense of humour, some none; some thrive
on publicity and adulation, others are virtual hermits; some have an
overwhelming need for power, others for creativity; some need the
trappings of wealth, others lead very simple lives. Whatever the
difference is, there is one factor which all successful entrepreneurs
have in common — they and their firms are always on the move».
It must be appreciated that management skills can be learned
whereas entrepreneurial ability is a matter of flair; either you have it
or you don’t. Business requires both skills, the flair of the entrepreneur
and the solid competence of the manager. It is dangerous to generalize
but some of the characteristics of the entrepreneur, in contrast to the
manager, are: belief in himself and his business; belief in wealth and
material gain; and belief in delegation.
Entrepreneurial talent and management skills may not both be
present in the one person. This may lead to the idea of partnershi p
and, indeed, as the business flourishes and expands, the creation of a
management team.
The British Enterpreneur encompasses the results of a survey of
the views of owner-managers of the top 100 entrepreneurial firms in
the UK. One of the questions asked was «what are the critical factors
for success?» The answers came under three main headings:
Marketing:
A unique product; an innovative approach; a good fundamental
idea; aggressive sales and marketing strategies; active selling; quality;
price; heavy marketing investment.
Management:
Dedicated senior management; hard work and commitment of
staff; tight financial controls; cash flow; investment for the long term;
regular views and overhaul of the management structure; disci plined
and cost effective management of employees; unwavering and total
support from initial backers.
– 46 –
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