Wednesday, October 16, 2019

Creation and Development of New Firms Assignment

Creation and Development of New Firms - Assignment Example Side by side, the trouble of poverty also became highlighted in these emerging economies of the entire world. However, in order to recover from such distressful state, most of the countries, especially the emerging or developing countries are reliant on economic liberalization. Due to such economic shift, most of the emerging economies and the firms of recent age are entirely responsible for economic recovery of the world (Yalcin & Kapu, 2008, p. 32). Due to which, most of these firms offered high concentration over the development of the entrepreneurship programs. Therefore, the importance of entrepreneurship program is highlighted in this assignment and it also focuses on five significant areas: Creation and development of new firms Success rates of entrepreneurial activities Global entrepreneurship in developing economies Degree of risks or safety of entrepreneurial programs Present entrepreneurs and innovative technology Creation and Development of New Firms In recent age, the em erging economies of the world are always trying to develop large number of new firms so as to improve their financial condition. Along with this, it also helps in improving the profit margin and revenue of the firms might also be improved. It also helps in enhancement of the employment rates resulting in upliftment of the living standards of the citizens of the economies. As a result, the reputation of the developing economy increases to a certain extent among other neighboring ones in the entire world. For the above reasons, the rate of entrepreneurship is increasing day by day and thereby improving the prospects of the firms and the employees as well. This is mainly because, the entrepreneurs of recent age are extremely talented and intelligent and comprise of excellent management and leadership skills that are extremely essential to control and operate any business firm or organization in this competitive age. As a result, the level of interaction among the employees and the mana gement is extremely high resulting in invention of varied types of new ideas and facts that might result in betterment of the organization (Yalcin & Kapu, 2008, p. 31). So, the prospect of the entrepreneurship has been increasing and it is resulting in amplification of the rate of development of new firms in the emerging economies. Success Rates of Entrepreneurial Activities As the entrepreneurs of recent age always try to develop and introduce new ideas and information for the betterment of the firm. This is done only after analyzing the situation and the strengths and weaknesses of the firm. By doing so, an entrepreneur might attain get a better analysis of the essential requirements of the firm. On the basis of that, the entrepreneur might develop the plans and the strategies that might lead to its betterment. Along with this, after the plans are finalized, the goals and objectives are also developed after consulting with the other employees of the firm. Then, to attain such obje ctives, the innovative skills and talents as well as equipments are introduced within the employees of the organization. Therefore, with the coordinated efforts of the employees, equipments and management, the objectives might be surely achieved resulting in success of the organization. Due to which, the working condition of the organization improved resulting in enhancement of the rate of devotion of the employees towards work. This is the

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