A FACETS model analysis

A FACETS model analysis Abstract In the modern world the growth of communications, global marketplace and the internet has lead to an increase in the number of small business start-ups. The entrepreneurs responsible for these business possess a large variance in skills, qualities and ideologies. It can be challenging to quantify such characteristics in a comparable way, however there are some frameworks that can assist, one of which as proposed by Bolton Thompson (2003) is the FACETS framework which uses six broadly defined character themes, focus, advantage creativity, ego, team and social. To asses to the results of this model it is applied to a young, successful entrepreneur from the music industry who has received much attention in recent media, Martin Webb. Martin not only writes a columns for both the the Telegraph and Independent but is also the featured entrepreneur on Channel 4s acclaimed Risking It All series. With so much media attention and written material this makes him an ideal candidate for the appl ication of the FACETS framework. Introduction The FACETS model It is important to provide an overview of the theories of to the FACETS model and how these are categorised before its application to a particular entrepreneur. The six defined character themes that form the basis of the framework, focus, advantage creativity, ego, team and social. Bolton Thompson (2003) have stated that some of these themes can be further broken down into the several sub themes which allow for a basic application of the model. Focus As one of the most important themes of the model and desirable not only just for entrepreneurs but also in ones general work ethic, it manifests itself as a sense of urgency, a desire to complete projects in a timely fashion and stick to deadlines. It is broken down into target focus, time focus and action focus. Advantage Advantage relates to the business strategy of the entrepreneur giving them the competitive edge to distinguish between ideas and opportunities that are worth developing and the lemons Creativity This could be described as the life blood of the entrepreneur, it provides the opportunities and ideas that an entrepreneur develops. Bolton Thompson (2003) describe this definitively as the theme from which all else springs It can be broken down into the sub themes of ideas, opportunities and solutions. Ego A complex facet that is split into outer ego and inner ego and can then be subdivided up into six other elements. The inner ego comprises dedication, motivation and self-assurance and the outer ego, responsibility, accountability and courage. Bolton Thompson (2003) describe the outer ego as an entrepreneurs centre of control and stems from a desire to be in charge of their destiny. The first three FACETS are often grouped into FAC and are classified as linked talents. The Ego will act as a control mechanism and then influence how well the talents are utilised. Bibliography Enterprise: Entrepreneurship and Innovation: Concepts, Contexts and Commercialization Entrepreneurs: talent, temperament, technique The Entrepreneur in Focus: Achieve Your Potential

Effects of Unemployment Essay

Psychological Effects of Unemployment and Underemployment The current state of the economy continues to be an enormous stressor for Americans, with 78 percent reporting money as a significant source of stress (APA, 2009). Unemployed workers are twice as likely as their employed counterparts to experience psychological problems such as depression, anxiety, psychosomatic symptoms, low subjective well-being and poor self-esteem (Paul & Moser, 2009). Like unemployment, underemployment (e.g., people working part-time because they cannot find full-time employment) is unequally distributed across the U.S. population, with women, younger workers and African Americans reporting higher rates of involuntary part-time employment and low pay, as well as higher proportions of â€Å"discouraged† workers who have given up on searching for a job (McKee-Ryan et al., 2005). Unemployment not only affects those who lose their jobs. Coworkers who are still employed may experience a heavier work load and suffer from anxiety that they too will soon be unemp loyed, (Kivimaki, Vahtera, Elovainio, Pentti, & Virtanen, 2003). Unemployment and underemployment also affect families and communities. ————————————————- Effects on Families According to the Society for the Psychological Study of Social Issues’ Policy Statement â€Å"The Psychological Consequences of Unemployment,† the stress of unemployment can lead to declines in individual and family well-being (Belle & Bullock, 2011). The burden of unemployment can also affect outcomes for children. The stress and depressive symptoms associated with job loss can negatively affect parenting practices such as increasing punitive and arbitrary punishment (McLoyd, 1998). As a result, children report more distress and depressive symptoms. Depression in children and adolescents is linked to multiple negative outcomes, including academic problems, substance abuse, high-risk sexual behavior, physical health problems, impaired social relationships and increased risk of suicide (Birmaher et al., 1996; Chen & Paterson, 2006; Le, Munoz, Ippen, & Stoddard, 2003; Verona & Javdani, 2011; Stolberg, Clark, & Bongar, 2002). ————— Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- Effects on Communities Widespread unemployment in neighborhoods reduces resources, which may result in inadequate and low-quality housing, underfunded schools, restricted access to services and public transportation, and limited opportunities for employment, making it more difficult for people to return to work (Brisson, Roll, & East, 2009). Unemployed persons also report less neighborhood belonging than their employed counterparts, a finding with implications for neighborhood safety and community well-being (Steward et al., 2009). High unemployment and growing income inequalities are key factors in declining social climate (International Labour Office, 2010). The United Nations (2010) claimed that growing social inequality fueled by extended, global unemployment will increase social unrest and tension and a growing sense of unfairness. Increasing inequality in advanced economies is fundamentally linked to growing rates of physical, emotional, social and political disorder (Wilkinson & Pickett, 2010). â₠¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- Unemployment and Stress in Different Populations Unemployment does not affect all groups equally. Rates are higher among Latinos/as (13.1%) and African Americans (15.7%) than European Americans (9.5%). Immigrants (Kochhar, 2009) and people with disabilities (Shapiro, 2009) are also especially vulnerable to layoffs as are those without college degrees (Leonhardt, 2009). Unemployed women report poorer mental health and lower life satisfaction than unemployed men (McKee-Ryan et al., 2005). Women are more likely to report that they have consumed unhealthy foods, or skipped a meal as a result of stress. Women are also more likely to report physical symptoms of stress, including irritability, anger, fatigue and lack of interest or motivation and energy (APA, 2009). In combination with other health disparities, the unequal impact of unemployment on some groups may have devastating effects on already vulnerable communities. ——————————————†”—- Solutions and Recommendations The negative effects of unemployment can be lessened. Individuals who face unemployment with greater financial resources, as well as those who report lower levels of subjective financial strain, report better mental health and more life satisfaction than those who experience unemployment with fewer economic resources and a greater sense of financial stress (McKee-Ryan et al., 2005). Social support can also mitigate the negative impacts of unemployment and underemployment (Belle & Bullock, 2011). For example, being married is a protective factor during periods of unemployment and underemployment (Dooley & Prause, 2004; McKee-Ryan et al., 2005). APA supports critical and proven programs to prevent unemployment and provide support for those who are unemployed, and urges Congress to: Support the National Commission on Employment and Economic Security Act. Sponsored by Representative Alcee Hastings (D-FL), this legislation would establish a national commission to study and address employm ent and economic insecurity and their effects on mental health. The commission would examine issues of economic and psychological insecurity within our workforce due to employment displacement. Furthermore, the commission would provide recommendations to Congress and the President on how to reduce economic and psychological effects of unemployment. Fund job training and reemployment programs that take into account the psychological and emotional needs of workers and help prevent long-term unemployment. For example, the Michigan Prevention Research Center (MPRC), a program funded for 20 years by the National Institute for Mental Health, developed and evaluated the JOBS Program to help unemployed workers effectively seek reemployment and cope with the multiple challenges and stressors associated with unemployment and job-searching. Currently supported by the Substance Abuse and Mental Health Services Administration, the JOBS Program is a group-based intervention that has the dual goals of promoting reemployment and enhancing the coping capacities o f unemployed workers and their families. Reauthorize and expand the Temporary Assistance for Needy Families program to provide temporary assistance to the long-term unemployed. APA supports more federal support for increased benefit levels for States, more time for clients to access mental health services, and suspending the work first requirement, to encourage training and education.

Industry Life Cycle Essay

It is quite natural that people concerned with environmental issues could worry about the convenience industry. As it operates 24 hours and required high frequency deliveries, it inevitably include in the strong criticism because high frequency delivery is said to cause traffic jams and increase exhaust gas pollution. Even the 24-hour operation mode is criticized by many quarters in light of environmental problems, and even social problems like the increase of crime. To deal with these problems, convenience store takes up with reducing the numbers of deliveries through their effort. It also invests on electricity-saving equipment to be installed at all of its chain stores to save the electricity of electric lights and also the electricity of air-conditioners simultaneously. Industry Life Cycle The nature of corporate strategy will change as industries move along the life cycle. Introduction Phase In 1927, the Southland Ice Company is founded in Oak Cliff, Texas Tote’m stores introduced. At the same time, other types of stores were emerging such as â€Å"midget† stores and â€Å"motorterias† or mobile convenience stores. Sometimes supermarkets had small outlets in rural areas for people. The pattern of the emerging â€Å"convenience† types of stores grew modestly until World War II (although they were not yet called â€Å"convenience stores†). The big factor in all of these operations was fast service. In this phase, industry performed a high price, but profit is low due to investment in new category. Growth Phase At the end of the World War II and the increased ownership of automobiles sparked the rapid growth of the industry in the 1950s. The automobile helped fuel the growth of suburban living. The industry grew rapidly along with this consumer need for convenient shopping. Additional forces continued to drive convenience store growth. As grocery stores became larger and larger, they became less convenient for the customer who was in a hurry. Convenience stores filled in. Also, the increase in the number of working women reduced the amount of time available for shopping. Convenience stores began offering gasoline in US when self-serve became popular. As the industry moves towards growth, competitors are attracted by its potential and enter the market: supermarkets, mom-and-pop grocery stores, specialty food shops, drug and variety stores, vending fast food chains. Step into 1970s, convenience store operators had to cope with price and wage controls, gasoline and merchandise shortages, record inflation and interest rates, and increased competition due to longer hours and increased discounting by supermarkets. Maturity Phase As all the available customers are satisfied by the product, growth slows down and the market becomes mature. In the late 1980s, there was a continued reduction in the opening of new stores and an increase in the investment required for a new store. Industry attention moved to improve operations, margins and cost control. Rapidly changing technology area is providing new challenges and opportunities for the industry. Costs continued to go up with severe competition held back margins; more regulations were imposed, and there was an increased cost of doing business. Store labor costs were increasing due to increases in the minimum wage, more fringe benefits as well as many other factors such as adding service items like gasoline. As the number of convenience stores increased, the average number of households served by an individual store dropped. The higher level of saturation and increased competition led to fewer customers per store; therefore, stores remodeled to attract more customers rather than building new stores. The convenience store industry continued in the maturity phase; but the impact of increased competition, higher energy costs, new store expenses, and higher labor expenses reduced profits as a percentage of sales. Those companies that seek out customer needs and align themselves to serve those needs will be successful in the future. Structural drivers of change Structural drivers of change are forces likely to affect the structure of an industry, sector or market. It will be the combined effect of some of these separate factors that will be so important, rather than the factors separately. (Johnson & Scholes, 1999) 1. Issues of the law’s effectiveness: With the deregulation of many areas such as liquor license, medical supplies, travelling tickets, tours and so on, convenience stores should prepare its entry to deregulation fields. For instance, in expectation of deregulation in the sales of medical supplies, many convenience stores are preparing to entry to this field. It gives more opportunities for industry to attract more customers. 2. Offering new services: Offering new service is also a weapon for convenience stores to face the competition. Industry offers convenient services based on each neighborhood’s individual needs, including automated money orders, copiers, fax and automatic teller machines, long-distance phone cards and lottery tickets, where available. Not only does this service contribute to the increase in sales figures, but it also attracts many customers resulting in incidental shopping as well. For example, 7-Eleven in Japan sell rice and this contributes in particular to capturing the housewife bracket as a new customer type. This customer group had previously seldom shopped in the convenience store. Offering goods and services related closely to daily life enables a store to expand the base of its customers. Penetration of different industry: Competition becomes aggressive because the penetration of different industry. In the convenience retailing area, supermarket establishes their 24 hour store in some place. Convenience stores sell drug in order to attract more customer from drug store. Global players are getting into the game. Discount department stores are moving into grocery store categories. The convergence of retail competition will intensify competitive pressures and renew downward pressure on prices and margins.

The Financial Crises Of 2008 - 1701 Words

We are now in a state of experimentation, ‘in which the conjuncture of the strange and the familiar, of the stasis and metaporphosis, plays tricks on our perceptions, our positions, our praxis.’ (Comparoff Pg.3). The Financial crises of 2008 has had a major impact on the lives of individuals, for some it has been beneficial for others dire. Many people no longer have faith in the ‘capitalism that presents itself as a gospel of salvation’ (comaroff review, find) and are embracing alternatives to lassaire faire capitalism. The crises has seen the rise of anti-capitalist movements such as ( people before profit) offering an alternative vision to mainstream capitalism. In the EU the crises has forced people to look at alternative solutions,†¦show more content†¦In this essay I will argue that although socialism in large has been rightfully/justly dismissed considering its inadequate/often disfavoured implementation in real life, the political and econom ic problems of capitalism (which will vary depending on perspective/viewpoint), can be alleviated to some extent with the guidance/use/help/implementation of particular socialist ideals such as redistribution of wealth and?. I will first consider the historical background of capitalism and socialism. I will then show the relevance of this question today as I look at how the financial crises has led many people to realise the unsustainability and other numerous political and economic problems of capitalism, and then will go on to address those problems. Following this, I will look at the anti-capitalist movements that are popular today and examine/evaluate socialist theory and how it aims to solve the problems of capitalism. I will then try to understand where socialism has gone wrong, using ethnographic examples and examine if it is an adequate system for solving pol/eco problems of capitalism. I will finally show how, if we look at where it has failed before and look at what academ ics have proposed (in a reformulation of theory, taking account of past empirical examples, and carefully selecting the best..) as a way forward in this time of experimentation and inform the development of a new and relevant political economy for our times (Change). Following