Essays on Business Conditions

Importance of Entrepreneurial Activity to the UK Economy

Assignments 2 Introduction The constant growth and evolution of economic relations, both between countries and between entrepreneurs within a country, are requirements for the creation of new business forms. Entrepreneurship is an important, but not a sufficient factor in economic and social developments of countries (Waschik, Fisher and Prentice, 2010). However, if left uncontrolled by the state, entrepreneurship can become just as harmful as the administrative-command system in an economy. Entrepreneurship is essential for the development of a competitive economic environment; in order to give the final consumers the freedom of choice, but does not content with goods offered ...

Introduction

Organizations, instead of running themselves, require employees with a diverse mix of “abilities, intrinsic gifts, skills, knowledge, experience, intelligence, judgment, attitude, character, drive, and ability to learn and grow; collectively called talent” (Michaels et al., 2001, cited in Beechler & Woodward, 2009, p. 274)” to do the same. However, “sustaining this talent is more challenging than creating it, considering the dynamically complex and perilous global business environment, that most of the companies operate in, thus, necessitating a carefully crafted talent strategy or talent management process, on their part, that precedes every other organizational strategy, 24*7, regardless of the prevalent business conditions” ( ...