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BUS162G : Introduction To Entrepreneurship

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BUS162G : Introduction To Entrepreneurship

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BUS162G : Introduction To Entrepreneurship

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Course Code: BUS162G
University: Vesalius College

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Country: Belgium

Question:

Guidelines: Topic headings and sub-headings1) Introduction2) Summary of Case3) Evaluation of Issues from the Perspective of Business (related to Entrepreneurship)4) Evaluation of Issues from the Perspective of Government (related to Entrepreneurship)5) Evaluation of Issues from the Perspective of Society (related to Entrepreneurship)6) HOW THE ISSUES ARE INTER-RELATED (Business, Government, and Society) in Entrepreneurship7) Evaluation of possible future implications8) Conclusion

Answer:

Introducation:
The term “entrepreneurship” refers to the processes that are involved to design, launch and to run a new business which is often a small one. The people who are responsible for creating and maintain the business are referred to as the “entrepreneurs”. In the view of (Burns, 2016), entrepreneurship can be described as the “capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make profit.” The first entrepreneur can be traced back to nearly 20,000 years ago and the first trade that took place between the human beings took place around 17000 BCE in the country of New Guinea where the people used to exchange a glass that has been made of volcanic origin (Schaper et al.,2014).  
Discussion: 
Issuse On The Persective Of Business
In the case of developing a successful business, knowledge, willingness and creativity is required. By developing these skills, the entrepreneur can develop an effective business idea, which can be beneficial in terms of business profitability. As stated by Bettis et al., (2016), proper knowledge regarding the management practices are very important to adopt by the manager as its influence the hiring and both the internal and external environment regarding practices. An entrepreneur, who is not able to develop an effective management strategy or not aware about the responsibility will not be able to develop the successful business. In terms of develop appropriate marketing strategy, the business knowledge is required. Hence, this can be said that in the business perspective, knowledge, business skills, patience and management skills are influencing for developing successful business by an entrepreneur. With respect to The Hershey Organization’s treatment of the labourers in America, there have been a few archived cases and also a general agreement that the organization has unlikely desires for its labourers, constraining them into extreme unpaid extra time. To begin with, the “Chocolate Labourers Neighbourhood Association” in Hershey, have recorded grievances to get more labour ideally to reduce a portion of the worry of being compelled to work additional time throughout the entire year. Specialists at the Hershey, (Manza, 2014) plant, who could conceivably additionally be in the association, have expounded on their encounters at work on sites. They likewise talk noisily about how they are being constrained by their directors to work long extra time hours, and in addition the general grievance that they can’t keep up a solid work-life adjust. There is intense competition among the organizations in the chocolate company and Hershey is no excluded from it. Besides, the vast coverage of the organization in terms of its operations leads to more dilution and less authority among its managers. Moreover, the tastes and the preferences of the consumers are changing and the company is no able to cope up with the frequent changes of the consumers.  The prices of the milk and sugar are increasing every tear which then company is not able to bear presently.
Issuse On The Persective Of Government
Government rules and regulation are the important influential factor for the entrepreneur for developing a successful business. Depending on the economic growth of the country, the business opportunities get influenced. Business promotion as well as market competition are being influenced by the government business policies (Wilson, 2015). Hence, this can be said that in order to develop a successful business the entrepreneur should be aware about the current business policies in the country. Due to lack of seriousness regarding the government rules can brought big failure for the business. As proposed by the government, the famous chocolate company, Hershey has focused on “reasonable cocoa and enhancing the lives of cocoa networks,” through a declaration in October 2012 to “ensure” all cocoa by 2020 and all the more as of late in Walk 2013 by reporting that it has built up a guide for how to do this that incorporates functioning with three certificates, UTZ, Rainforest Cooperation, and Fair Trade USA. To those effectively working every day to enhance the lives everything being equal, labourers, and horticultural networks, great aims or long haul objectives are not fulfilling. Reasonable World Task approaches Hershey to accomplish increasingly and do it all the more rapidly.
The recent report of Corporate Social Responsibility (CSR) as issued by the company, Hershey, features the advances that the organization have made during the year 2015 against an assortment of need issues. Proceeding with its force from 2014, a year ago the organization gained ground through a scope of endeavours supporting its duties to dependable sourcing, fixing straightforwardness, basic fixings, and natural supportability. The company has successfully sourced out 50 percent of cocoa that are used from the certified as well as the sustainable sources. The organization has also added another and the fifth “learn to grow” program in order to train more eight thousand cocoa farmers on maintainable, present day cultivating to build family wages and enhance network prosperity. The organization has followed 90 percent of palm oil buys to the factory level and 10 percent to the ranch level as of mid-2015, pushing toward 100 percent planting level traceability before the end of 2016. The organization positioned itself on creature welfare, including sympathetic treatment of creatures and distributed a mash and paper approach to help avert deforestation.
Issuse On The Perspective Of Society
Culture of the society and its perspective towards the entrepreneur can play an effective role in the case of influencing the business. According to Dees (2017), an entrepreneur should always develop the business idea based on the society need, so that it can be easily accepted by the society. By supporting this Barki et al., (2015) stated that every business idea, adopted by the entrepreneur should have the positive contribution in the society. Due to lack of acceptance by the society, the entrepreneur can even face the business failure. Earlier the company used to provide fund to the underprivileged children so that their future could be brightened up. Later on it was reported that the company was engaged into some unsocial and unethical practices. The most famous and significant organizations like Hershey’s, have been discovered blameworthy of utilizing kid work and youngster bondage. These organizations and numerous others like them are reacting to the expanding interest for chocolate with an interest for shabby work. In this way, they purchase cocoa for modest from their providers in the Ivory Drift. The reason the cocoa is shoddy is on account of those mining it are youngsters, who chip away at measly wages on the off chance that they get any whatsoever. The offspring of Western Africa live in neediness and are frantic to encourage their families, this makes them defenceless against tyke traffickers who reveal to them they will be paid well for their work. A few kids are even sold by their own particular relatives to the cocoa business (Sharma & Ghosh Chowdhury, 2014).
The kids work in risky conditions utilizing cutting apparatuses and climbing tall trees with cleavers to cut cocoa bean cases. The substantial blades and different risky hardware are utilized by all kids in the cocoa business, damaging the most exceedingly bad kid work laws from the Assembled Countries. Subsequent to cutting the bean cases the youngsters must convey packs that for the most part weight around 100 pounds through the backwoods. A significant number of the kids are whipped or beaten for working gradually and during the evening numerous are secured so they can’t get away. The kids additionally should open the cocoa bean themselves by hitting the tip of the case with a blade and prying it open. Most of the youngsters hurt themselves amid this procedure and are left with scars staring them in the face, arms, shoulders, and legs.
Interrelationship Between The Business, Government and Society
It has been identified in this study that willingness, knowledge and creativity are the three major component to become a successful entrepreneur. Another way, this can be said that patience, skill and intelligence are the three major keys that help the entrepreneur to develop successful business. After analysing all the three perspective this can be said that all the issues are interrelated to each other. As stated by Invernizzi et al., (2017), due to the negative impact from society, confidence of the entrepreneur gets affected, which indirectly influence the business performance. On the other hand, Barkemeyer et al., (2014) opined that the external business environment and government rules and regulations, influence the business strategy as well as the management process. Each and every aspect of the business have some objectives of their own and these objectives create interrelationship between them.  The most important role of any of the business, whether small or large is to reduce the cost of production and make profits.  This is achieved by the firms by maximizing the sales of the produced goods (Doppelt, 2017). The government of any county plays a great role by managing the resources available in the most effective ways possible. They play a great role by supporting the needs and necessities of the population or the citizens of the state and formulates a framework which every organization is bound to follow. The government of the US also proposes a frame work which all the business including Hershey Co. The business and the government needs to provide and work according to the ethical considerations of the society they are exercising in.
Conclusion:
To conclude, every entrepreneurial business has to emerge first as the small business which slowly and steadily develops into a large one. Often it has been noticed that the early o the small business is dissolved and a new one is started. The case of Hershey, the famous chocolate company is also the same. The company was founded by Milton Hershey and the firm had dissolved thrice. Every business has some issues with their business, the government of the country and the society. The Hershey had issues regarding the purchase of sugar and milk and intense competition among the others belonging to the same industry. The firm could not cope with the sustainable development as proposed by the government and made the children of the poor to work in the factories as child labour which is unethical and illegal in nature both in the eyes of the laws and society.
Referance: 
Barkemeyer, R., Holt, D., Preuss, L., & Tsang, S. (2014). What happened to the ‘development’in sustainable development? Business guidelines two decades after Brundtland. sustainable development, 22(1), 15-32.
Barki, E., Comini, G., Cunliffe, A., Hart, S., & Rai, S. (2015). Social entrepreneurship and social business: retrospective and prospective research. Revista de Administração de Empresas, 55(4), 380-384.
Bettis, R. A., Ethiraj, S., Gambardella, A., Helfat, C., & Mitchell, W. (2016). Creating repeatable cumulative knowledge in strategic management: A call for a broad and deep conversation among authors, referees, and editors. Strategic Management Journal, 37(2), 257-261.
Burns, P. (2016). Entrepreneurship and small business. Palgrave Macmillan Limited.
Coombs, W. T. (2013). Applied crisis communication and crisis management: Cases and exercises. Sage Publications.
Dees, J. G. (2017). 1 The Meaning of Social Entrepreneurship. In Case Studies in Social Entrepreneurship and Sustainability (pp. 34-42). Routledge.
Doppelt, B. (2017). Leading change toward sustainability: A change-management guide for business, government and civil society. Routledge.
Invernizzi, A. C., Menozzi, A., Passarani, D. A., Patton, D., & Viglia, G. (2017). Entrepreneurial overconfidence and its impact upon performance. International Small Business Journal, 35(6), 709-728.
Manza, K. (2014). Making chocolate sweeter: How to encourage Hershey Company to clean up its supply chain and eliminate child labor. BC Int’l & Comp. L. Rev., 37, 389.
Schaper, M. T., Volery, T., Weber, P. C., & Gibson, B. (2014). Entrepreneurship and small business.
Sharma, S., & Ghosh Choudhury, A. (2014). A qualitative study on evolution of relationships between third-party logistics providers and customers into strategic alliances. Strategic Outsourcing: An International Journal, 7(1), 2-17.
Wilson, J. H. (2015). American Business and Foreign Policy: 1920–1933. University Press of Kentucky.

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