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Business Administration / What is a Business Incubator?
« on: June 08, 2013, 04:09:30 PM »

“The business incubator seeks to effectively link talent, technology, capital, and know-how in order to leverage entrepreneurial talent and to accelerate the development of new companies” (1987).
This definition, however, classifies organizations such as chambers of commerce as incubators thus widening the field of incubator-incubation research to a nearly unmanageable point. Meanwhile, Rice provides a narrower definition by stating that
“Business incubators…nurture and grow start-ups in the Internet economy. They offer fledgling companies…office space, funding, and basic services such as recruiting, accounting, and legal advice—usually in exchange for equity stakes” (2002).
While this definition makes the analysis of incubators more feasible, it is insufficient in two ways. First, it limits business incubators to those that incubate Internet-related firms. Second, it reduces the incubator to a provider of shared services. However, similar to a corporation not being merely composed of a building, the incubator is also not limited to the physical facility and its shared services. Instead, it is composed of a group of people working together to improve the probability of success of new firms. Thus a more useful definition of the incubator-incubation concept might be the one by Hackett and Dilts:
“A business incubator is a shared office-space facility that seeks to provide its incubatees with a strategic, value-adding intervention system (i.e. business incubation) of monitoring and business assistance. This system controls and links resources with the objective of facilitating the successful new venture development of the incubatees while simultaneously containing the cost of their potential failure…when discussing the incubator, it is important to keep in mind the totality of the incubator…[it is] also a network of individuals and organizations” (2004a).
Hackett and Dilts (2004a) also graphically depicted the incubator-incubation concept as being composed of four inter-dependent levels: community, incubator, incubation process, and incubatees (See figure below).
It is worth noting how this concept has significantly evolved from the archetypal incubators of the 1950s. In this conceptualization, more attention has been paid to the interaction between the community and the incubator. First, the community has been recognized to have a significant role in shaping the types of services that should be provided by the incubator. Second, the community is also seen as a major source of the value provided by the incubator to its incubatees. This value may come in the form of professional services, laboratories and equipment from universities, early market feedback, a quality pool of potential employees, as well as partnership opportunities from external firms (including those that have “graduated” from the incubator). Third, launching a new firm requires a considerable amount of resources, monetary or otherwise. An incubator is based on the idea that gathering these resources in one place will help achieve economies of scale for the community. Finally, more than just savings provided by resource pooling, an incubator may also be a useful means for a local economy to channel valuable resources from areas of less productivity to areas of high productivity and with higher probability of success. Thus, in this new conceptualization, the incubator is no longer seen as an independent entity, but rather, as an organization whose success largely depends on the degree of its integration with the community.

Business Administration / DELUXE BUSINESS PLAN FORMAT
« on: June 04, 2013, 12:11:55 PM »
Cover Page
Table of Contents
Executive Summary
Management Profiles
•   Management Team Profiles and Ownership Structure
•   Organization Structure
•   Board of Advisors
•   Professional Services
•   Human Resources Policies and Practices
Business Environment
•   Business Summary and History
•   Industry Overview
•   Economic Environment Analysis
•   Company Position
•   Competitive Analysis
•   Key competitor SWOT Analysis (strengths, weaknesses, opportunities and threats)
•   Company SWOT Analysis
Marketing Plan
•   Current Customers and Target Markets
•   Product or Services Differentiation
•   Pricing Strategy
•   Sales and Distribution Policies
•   Advertising
•   Strategic Direction

•   Current Operating Procedures
•   Current Manufacturing Processes
•   Proposed changes to operating procedures
•   Proposed changes to manufacturing procedure

•   Financial history - last 3 - 5 years
•   Income Statements - next 2 - 3 years
•   Cash Flow Statements - next 2 - 3 years
•   Balance Sheets - Current and Pro-forma
•   Exit plan - Most third party investors will want to know the timeframe in which they can expect to get their money out

Risk Analysis

Summary and Conclusion

« on: June 04, 2013, 12:09:57 PM »

Cover Page
Table of Contents
Executive Summary
Management Profiles
•   Ownership Profiles and Structure
•   Board of Advisors
•   Professional Services
•   Human Resources Requirements
Business Environment
•   Business Summary and History
•   Industry Overview
•   Competitive Analysis
•   Company Position

Marketing Plan
•   Target Market
•   Product or Services Differentiation
•   Pricing Strategy
•   Sales and Distribution Plan
•   Advertising
•   Stage of Development of your Products / Services
•   Manufacturing Processes

•   Start Up Capital Requirements
•   Income Statements – first two years
•   Cash Flow Statements – first two years
•   Balance Sheet
Risk Analysis

Summary and Conclusion

Business Administration / Significance of Technology
« on: June 04, 2013, 12:06:19 PM »
Technology is the master key for economic development in any country. It is a tool for deriving benefits from nature as well as giving competitive edge to a nation. In fact, Ayres (1998) has referred to technology as the “wealth of nations”. Many attempts have been made to assess the specific contribution of technology to economic growth. According to one analysis over 87% of productivity growth in the USA between 1950 and 1980 was due to technological improvement, while another estimated it is to be between 30% and 56% (Hawthorne, 1999). In spite of these differences it might be said that technological progress has enabled the USA to become a highly industrialized and developed nations.

2. Employee Selection
3. Training & Development
4. Ethics and Employee Rights
5. Motivating Knowledge Workers
6. Paying Employees Market Value
7. Communications
8. A Legal Concern
9. Work-Life Balance

1.Political Instability

2.Timing of Sales

3.Lack of Customers Satisfaction

4.High Promotional Cost

5.Loss of Collection

6.Changes in Government Rules & Regulations

7.Lack of Real Estate Education

8.Lack of Skills

9.High interest rate

Business Administration / Causes of Global Financial Crisis
« on: June 04, 2013, 11:51:04 AM »

Many factors directly and indirectly caused the ongoing financial crisis  (which started with the US subprime mortgage crisis). The complexity and interdependence of many of the causes, as well as competing political, economic and organizational interests, have described the crisis differently. One category of causes created a vulnerable or fragile financial system, including complex financial securities, a dependence on short-term funding markets, and international trade imbalances, high corporate and consumer debt levels. Still, others represent shocks to that system, such as the ongoing foreclosure crisis and the failures of key financial institutions. Regulatory and market-based controls did not effectively protect this system or measure the buildup of risk. Some causes relate to particular markets, such as the stock market or housing market, while others relate to the global economy more broadly.

1 The U.S. Housing Bubble and Foreclosures
Between 1997 and 2006, the price of the typical American house increased by 124 %( Wales, 2007). This housing bubble resulted in quite a few homeowners refinancing their homes at lower interest rates, or financing consumer spending by taking out second mortgages secured by the price appreciation. By September 2008, average U.S. housing prices had declined by over 20% from their mid-2006 peak (Wales, 2008). Easy credit, and a belief that house prices would continue to appreciate, had encouraged many sub prime borrowers to obtain adjustable-rate mortgages. These mortgages enticed borrowers with a below market interest rate for some predetermined period, followed by market interest rates for the remainder of the mortgage's term. Borrowers who could not make the higher payments once the initial grace period ended would try to refinance their mortgages. Refinancing became more difficult, once house prices began to decline in many parts of the USA. Borrowers who found themselves unable to escape higher monthly payments by refinancing began to default. During 2007, lenders had begun foreclosure proceedings on nearly million properties, a 79% increase over 2006. This increased to 2.3 million in 2008, an 81% increase in 2007. As of August 2008, 9.2% of all mortgages outstanding were either delinquent or in foreclosure (Wales, 2009). 

2 Sub-prime Lending
Both government and competitive pressures contributed to an increase in the amount of subprime lending during the years preceding the crisis. Major U.S. investment banks and government sponsored enterprises like Fannie Mae played an important role in the expansion of higher-risk lending. Subprime mortgage payment delinquency rates remained in the 10-15% range from 1998 to 2006, then began to increase rapidly, rising to 25% by early 2008 ( Christian, 2009).

3 Consumer and Household Borrowing
U.S. households and financial institutions became increasingly indebted or overleveraged during the years preceding the crisis. This increased their vulnerability to the collapse of the housing bubble and worsened the ensuing economic downturn.

4. Housing Speculation
Speculative borrowing in residential real estate has been cited as a contributing factor to the subprime mortgage crisis. During 2006, 22% of homes purchased (1.65 million units) were for investment purposes, with an additional 14% (1.07 million units) purchased as vacation homes. During 2005, these figures were 28% and 12%, respectively (Lumsden, Koster and Yik, 2009).

5. Corporate Risk-Taking and Leverage
The way the financial institutions took advantage of easy credit conditions, by borrowing and investing large sums of money, is called leveraged lending. Debt taken on by financial institutions increased from 63.8% of U.S. gross domestic product in 1997 to 113.8% in 2007 (Claessens, Dell, Igan, and Laeven, 2010 a). In 2004 SEC decision related to the net capital rule allowed USA investment banks to issue substantially more debt, which was then used to help fund the housing bubble through purchases of mortgage-backed securities. From 2004-07, the top five U.S. investment banks significantly increased their financial leverage which increased their vulnerability to a financial shock. These five institutions reported over $4.1 trillion in debt for fiscal year 2007, about 30% of USA nominal GDP for 2007 ( Claessens, Dell, Igan, and Laeven, 2010 b ). Lehman Brothers was liquidated, Bear Stearns and Merrill Lynch were sold at fire-sale prices, and Goldman Sachs and Morgan Stanley became commercial banks, subjecting themselves to more stringent regulation. With the exception of Lehman, these companies required or received government support.

6. Macroeconomic Conditions
Two important factors that contributed to the United States housing bubble were low U.S. interest rates and a large U.S. trade deficit. Low interest rates made bank lending more profitable, while trade deficits resulted in large capital inflows to the U.S. Both made funds for borrowing plentiful and relatively inexpensive.
7. Trade Deficits
In 2005, USA's high and rising current account (trade) deficit, resulting from USA imports exceeding its exports. Between 1996 and 2004, the USA current account deficit increased by $650 billion, from 1.5% to 5.8% of GDP (Muntasir, 2008 a). Financing these deficits required the USA to borrow large sums from abroad, much of it from countries running trade surpluses, mainly the emerging economies in Asia and oil-exporting nations.

8 Commodity Price Volatility
A commodity price bubble was created following the collapse in the housing bubble. The price of oil nearly tripled from $50 to $140 from early 2007 to 2008, before plunging as the financial crisis began to take hold in late 2008 ( Muntasir,2008 b) . Experts debate the causes, which include the flow of money from housing and other investments into commodities to speculation and monetary policy. An increase in oil prices tends to divert a larger share of consumer spending into gasoline, which creates downward pressure on economic growth in oil importing countries, as wealth flows to oil-producing states.

9 Liquidity Crisis
The banks and financial institutions in the USA were facing tremendous liquidity crisis during the global financial crisis because of the following reasons:

Firstly, due to the influence of global financial crisis, many companies have closed their operations. As a result, people became jobless and they did not pay the loan to the banks and financial institutions.   

Secondly, the Bush Administration spent a lot of money for continuing the war in several countries like Afghanistan and Iraq.

For the cause of global financial crisis, economy of many large countries was also affected with the American economy. And, all of these countries are taking many initiatives for overcoming these crises. We can show those initiatives by the following table:
Country                                                  Initiative taken
USA   •   Approve $700 billion rescue package for the first time
•   At present again approved $1000 billion rescue fund (which will be used to purchase toxic loan or assets).
London   •   Approved $875 billion rescue package.
Germany   •   Approved $68 billion for hypo real estate Company (private resident co).
Japan   •   Approved $18 billion (for retrieved from financial crisis).
Russia   •   Approved $ 36.4 billion ( for  banks)
Ireland   •   Government of Ireland nationalized three large bank
Mexico   •   Approved $4.4 billion (for economic development)
Pakistan   •   Approved 3200 Crore Rupees.
Korea   •   Approved $24.20 billion dollar
Saudi Arabia   •   Approved $ 1267 billion dollars

Table1:  Initiatives to rescue from global financial crisis (Source: Daily Star, October 30, 20

Business Administration / Problems of MLM Business in Bangladesh
« on: June 04, 2013, 11:45:58 AM »
There are four problems of MLM business in Bangladesh. These are as follows:
i)   Lack of Law,
ii)   Lack of Education & Training,
iii)   Lack of Quality Products & Reasonable Price, and
iv)   Lack of Congenial Political Environment.

i) Lack of Law: In Bangladesh still now there is no law of Multi-Level Marketing Business. Recently, the government has observed the activities of MLM companies and hopefully the government of Bangladesh will prepare a law as soon as possible.

ii)  Lack of Education & Training: MLM worker is relatively easy to collect in Bangladesh. But they do not have proper education in multi-level marketing business activities. In our country, there is not much scope for education in MLM business. Both the private and public universities lack the education regarding the MLM business.

Training makes a man perfect.  There is no alternative to training. Without training, a man is totally blind. Most of the people involved with the MLM business are without training. So, the author thinks that the lack of education & training is a serious problem for the development of MLM business in Bangladesh.

iii)  Lack of Quality Products & Reasonable Price: In Bangladesh at present most of the MLM companies collect products from other companies. This is one of the big problems of MLM companies in Bangladesh because today the world is a globalizing world. In the global world, customers give more emphasis on the quality, style, fashion, price, color and so on while they are purchasing products from any company. But the MLM companies cannot meet the demands of customers because they do not produce any product. That is why, they cannot charge reasonable price for their products. Sometimes their price may be higher or lower standard in relation to the qualities of the products.

iv) Lack of Congenial Political Environment: One of the major problems of MLM business in Bangladesh is the political situation. The changes of government affect the political situation in Bangladesh, which also affects the MLM business activities.

Business Administration / Necessities of MLM Business in Bangladesh
« on: June 04, 2013, 11:43:14 AM »
The MLM business is badly /urgently needed in Bangladesh because of the following reasons:

♦To solve unemployment problems: The MLM business helps eliminate unemployment problems in Bangladesh through the creation of new employment opportunities. The Destiny 2000 Ltd. has already created employment opportunities for about 1, 00,000 people in Bangladesh. Besides this, the authority of this company has been continuously trying to explore new employment opportunities for the unemployed people in Bangladesh.

♦ Helps to remove middlemen: The MLM business helps to remove the influence middlemen. The MLM Company directly produces or buys products from various companies and distributes these products without any channel i.e., direct channel so that the influence of agents, wholesalers and retailers has been omitted. As ca result, the customers can purchase their products and services with lower price. In addition to these, the company has been refunded 80 percent profit to the customers. In this case the customers are benefited in two ways.

♦ Helps to enhance the economic progress in Bangladesh: For the economic growth of Bangladesh, the MLM business provides strong hand and mind by creating huge job opportunities for the young educated people and by paying income tax to the Government of the People’s Republic of Bangladesh.

Bangladesh has earned a record amount of foreign remittance amounting more than $ 14 billion and exported the second highest number of workers to Middle- East Countries (Ministry of Expatriates’ Welfare and Overseas Employment Report, 2012). It has been indicated that the demand for blue-collar workers are increasing day-by-day in Asian countries, especially Middle -East and South-East Asian countries. The World Cup Football 2022 will be held in Qatar. That is why, the authority of this country wants to import huge number of labor from Bangladesh. Thus, the government of Bangladesh should start diplomatic and high profile discussion with the government of Qatar immediately to catch the labor market of this country so that the government can export huge number of labor to Qatar and earn ample foreign remittance. Beside this, the government should take necessary steps to open the labor market of Kuwait for fresh migrant workers of Bangladesh promptly and should also arrange bilateral and multilateral discussion with the other countries of the Middle-East which will help the government to expand the labor market in the Middle-East countries.

Recently, Malaysia has been agreed to take labor from Bangladesh. Now, the government is trying to collect required number of qualified labor through mass campaign from every district of Bangladesh. In this case the government should be very much careful so that the Malaysian labor market will not be stopped again for Bangladesh migrants. In addition to Malaysia, the government of Bangladesh should arrange bilateral and multilateral discussion with the government of other Asian and Middle-East countries so that our migrants will get more employment facilities in these countries.

The shortage of certain skilled professionals in industrialized countries such as information technology experts and computer specialists, nurses, medical doctors, etc. is an important factor behind the increase in demand for skilled manpower. In recent years, the OECD countries have encouraged immigration of high skill people through immigration incentive policies such as H-1 professional Visas in the U.S. and special visas for information technology experts in Germany and other countries. In this regard, the government of Bangladesh emphasis on developing the skill level of potential migrants through various training program so that the Bangladeshi migrants will get migration opportunities in the OECD and other countries in the world.

Still today, the African Continent is under the un-invented condition.  Now, the government of developed countries has been drawn special attention to develop the various countries in this continent. Thus, the government of Bangladesh should start bilateral and multilateral discussion immediately so that Bangladesh can export huge labor to the various countries of African Continent. In addition to this, the government should start diplomatic and high profile discussion with the government of Latin American counties because there are tremendous opportunities to export Bangladeshi labor to these countries.

Remittances have been continuously playing an increasingly large role to the economic growth and the livelihoods of people in Bangladesh. Remittance income is more valuable for any developing country like Bangladesh. Puri and Ritzema (2001) tell that remittance is the portion of international migrant workers’ earnings sent back from the country of employment to the country of origin, play a central role in the economies of many labor sending countries. Osmani (2004) tells that remittances have been identified as one of the three factors that have been responsible for reducing the overall incidence of poverty in Bangladesh.  The demand of migrant workers remittances has now increased tremendously in Bangladesh in a number of reasons. These are as follows:

i)   Remittance contributes to our national economy is a large scale by increasing foreign exchange reserve, per capita income and employment opportunities
ii)   It has been continuously lifting-up the GDP (Gross Domestic Product) of Bangladesh. In 2012, the remittance which has sent by the migrant workers is the 11 percent of the total GDP of Bangladesh.
iii)   Remittance has been continuously keeping the contribution to alleviate the poverty of Bangladesh through micro-enterprise development, generating substantial employment and income.
iv)   The government has been paid various government and non-government import bills and investments of different foreign debt & donation from the remittance income.
v)   Remittance income helps the government of Bangladesh to reduce dependency on foreign aid.
vi)   Remittance helps to improve the balance of payment position of Bangladesh.
vii)   Remittance also contributes to the expansion of financial market activities and the development of payment systems through enhancing direct capital flows and distributing those funds to users end and for investment or finance consumption purposes.
viii)   The government of Bangladesh is using remittance income to build schools, colleges, universities hospitals, roads, & highways, bridges, culverts etc.
ix)   Remittance income is positively the socio-economic condition of migrant families.
x)   Remittance income makes more strong local currency (Bangladesh) against US dollar.

Business Administration / Traits of a Successful Entrepreneur
« on: June 02, 2013, 01:18:53 PM »

1.Self-confidence and optimistic

2.Able to calculate risks

3.Respond positively to challenges

4.Flexible and able to adapt

 5.Able to get along well with others

6.Independent minded

7.Versatile knowledge

8.Energetic  and Diligent

9.Dynamic leadership quality

10.Responsive to suggestions

11.Take initiatives

12. Creative and need to achieve

13.Resourceful and persevering

14.Perceptive with foresight

15.Responsive to criticisms

16.Knowledge about markets

Business Administration / Preparing Employment Communications
« on: June 02, 2013, 01:10:55 PM »
Most everyone is faced with the challenge of finding a job. Not only is the competition for jobs keen but the job market is continually changing. Finding the job that is right for you requires preparation and planning. Since much of your adult life will be spent at work, preparing yourself adequately for the job of your choice is vital. The amount of preparation depends upon the type of work which interests you and your desire to realize your maximum potential. Job preparation is more than learning skills for a career. It is also knowing how to find out about job openings and sell your talents to prospective employer. Employers are looking for people who are interested in realizing their maximum potential. Attitude and ambition go hand in hand in achieving success on the job. To make a favorable impression, show your employer through attitude and actions that you are more interested in what you can "give" than in what you can "get".  Having a genuine interest in the company means you recognize the need to learn all you can about your position and the company. The right attitude and job competence are essential to saying on the payroll and working your way up

Well-qualified people miss job opportunities because they lack initiative and are not skilled in the job hunting technique. Many of the best jobs are obtained by people who understand how to " sell" themselves to prospective employers. The most successful job seekers find these seven stages important prerequisites to finding just the right job:

1. Making a personal evaluation
2. Surveying the job market
3. Preparing a standard resume
4. Writing an application letter
5. Completing an application form
6.Participating in a job interview
7. Writing other employment letters


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