Mpo Notes

Extrinsic motivation is related to rewards such as salary, job security, benefits, promotional prospects, the working environment and its conditions. Intrinsic motivation comes from within the individual. It relates to rewards which are psychological such as positive recognition and a sense of challenge and achievement. Vroom’s expectancy theory – Vroom believes that people will be motivated to do things to reach a goal if they believe in the worth of the goal and if they can see that what they do will help them to achieve it.Maslow Theory hierarchy of needs – self actualisation, esteem needs self esteem recognition status, social needs sense of belonging love, safety needs security protection, physiological needs hunger thirst. Herzberg two factor theory – hygiene factors (maintenance factors to avoid dissatisfaction but do not necessarily motivate employees) – Company policy and administration, Wages, salaries and other financial remuneration, Qua lity of supervision, Quality of inter-personal relations, Working conditions, Feelings of job security.Motivator factors – Status, Opportunity for advancement, Gaining recognition, Responsibility, Challenging / stimulating work, Sense of personal achievement & personal growth in a job. McGregor’s X and Y theory – Theory X = Individuals who dislike work and avoid it where possible, Individuals who lack ambition, dislike responsibility and prefer to be led, Individuals who desire security. Theory Y = Consider effort at work as just like rest or play, Ordinary people who do not dislike work.Depending on the working conditions, work could be considered a source of satisfaction or punishment, Individuals who seek responsibility (if they are motivated). Taylor’s scientific management theory – Man is a rational economic animal concerned with maximising his economic gain, People respond as individuals, not as groups, People can be treated in a standardised fashion, like machines. Porter and Lawler’s Expectancy Model is a further development of Vroom’s theory.It considers performance as a whole, pointing out that effort expended does not lead directly to performance but is influenced by the ability of the individual and his/her perceptions. They identify motivation, performance and satisfaction as individual and separate variables and attempt to explain the relationships between the three. Adam’s equity theory – focuses on the way people feel they have been treated in the workplace, looks at fairness of treatment between people, expectation – what people expect to receive in return for there hard work.People may try and get others to leave, they may start to compare themselves to someone who they think they are more like. Methods of removing inequity – increased pay, perks, better working conditions, transfer a member to another department. Locke’s goal theory – clarity, challeng e, commitment, feedback, task complexity. Teamwork is important for staff morale, work performance. Empowerment, quality circle and TQM. Improves productivity, improving quality, improvement in motivation and commitment.Organisations arrange their workforce into groups of people who work together for a common purpose or goal but who each have their own jobs to do. Teamwork creates synergy, in groups leadership is shared, empowerment is making people responsible for the quality of their own work, it enables all knowledge to be utilised, and people doing the work are those that know most about the job. Where group members share the same office this can lead towards group cohesiveness.Good teamwork – Commitment to the team’s success as well as the development of team member, The appropriate skills to do the tasks, The team has its own clear identity to both the members and others, Team members are positive and motivated, The team learns from mistakes and copes with setbac ks, The team is results focussed and produces real results. The authoritarian manager: Motivates by reward, Imposes decisions, Does not delegate, Has only a superficial trust in their staff, Occasionally involves staff in solving problems.The democratic manager: Shares opinions and ideas, Has complete confidence and trust in their staff, Allows staff to participate in making decisions, Motivates by reward for achieving goals set by participation. The autocratic manager: Threatens or bullies staff into action, never delegates, Always imposes decisions on others, Has no trust and confidence in staff, Has little communication and teamwork.

Economic Theories essays

Economic Theories essays In attempts to control the economy, the Government has to rely on theories and beliefs about what they feel will have the best outcomes. This leads to the problem that there is no absolute proven way in which to guarantee a successful economy, and thus leaves open the debate about which policies would have the best effects. Adam Smiths The Wealth of Nations favors a laissez-faire mentality from the government, while John Keynes, Keynesian theory, requires the government to play an active role in controlling the economy. Adam Smith once quoted, The uniform, constant and uninterrupted effort of every man to better his condition, the principle from which public and national, as well as private opulence is originally derived, is frequently powerful enough to maintain the natural progress of things toward improvement, in spite both of the extravagance of government, and of the greatest errors of administration. This is one of many instances in his book which reflects that human nature itself would propel an economy guided by each individuals Invisible hand. Smith noticed that when a business would become successful, others would notice and enter into the same field. As a direct result, growing consumer demand was satisfied while competition controlled rising prices. Adam Smith argued that an individual acting purely out of self interest would be a progressive force for the maximization of the total wealth of a nation. The role of the government should be permissive, creating a legal defensive setup sufficient to allow individual action. Interference with the free working of this natural order will reduce the growth of wealth and misdirect resources. Keynesian economics is based on a belief that the economy can possibly fall into a recession and not be able to pick itself up. Keynes felt that trends and fads could disrupt Smiths Invisible hand and lead it astr...

SLP internal analysis and SWOT Analysis

SLP internal analysis and SWOT Analysis Introduction Resource Based View is a modern day management tool that is used in crafting company’s strategy using the available resources and distinctive capabilities. One of the ways of achieving this is the use of Economic Values Added (EVA) or the Economic Rent (Connely, 2010). The EVA is gotten by subtracting the firm’s Net Operating Profit After tax (NOPAT) from the multiplication of the firm’s cost of capital by the firm’s capital i.e. NOPAT – (CAPITAL * COST OF CAPITAL).Advertising We will write a custom coursework sample on SLP internal analysis and SWOT Analysis specifically for you for only $16.05 $11/page Learn More A firm’s competitive advantage is therefore determined by its ability to use the available resources and utilize the core competencies to achieve targeted objectives (Barney, 1991). This paper discusses the various resources and competencies that an organizational can use to achieve competitiv e advantage over other firms. Sources Ensuing are two sources that offer information about these resources and competencies that provide a foundation for the formulation of a firm’s strategy. https://www.marketingteacher.com/swots these internal factors are resources such as human capital, patents, skills, goodwill and physical resources such as equipment and buildings. The disadvantage of this source is that the firm only uses internal environment to formulate the strategy ignoring the external environment which presents conditions that a business operates in. https://fba.aiub.edu/Files/Uploads/MGT110043.pdf. In his book, Henry presents the resource based view as a management tool for strategy formulation. Distinctive capabilities are useful in a firm’s competitiveness since the competitors are unable to duplicate them. The limitations of this source are that it looks at the firm which is established and has heavily invested in research and developments thus have acqu ired competencies in the specific operation area. Small firms are therefore not able to use these types of resources. Resources Resources are the inputs that a company uses in all the functional areas of its operations to produce the desired output and thus achieve the set target (Comeford Callaghan, 2011). Financial resources ensure that a firm has adequate amount of liquid cash to carry out the operations as well as finance the expected investments. This keeps the firm’s value high since its equity is not composed of large amounts of debt.Advertising Looking for coursework on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Human resources are other important organizations physical resources that ensure that the firm’s operations are of high quality. A workforce that is highly competent will make sure that the firm’s products are of high quality and also the firm employs efficient producti on methods resulting in low production costs. Technical resources are intangible resources which enhance a firm’s products quality. Advanced technical knowledge in the production process ensures that the firm’s products are preferred over the competitors since they are of superior quality (Barney, 1991). This therefore acts as an important resource that will form a basis of customer loyalty hence boosting a firm’s profitability. Intellectual resources are resources that a firm has acquired through research and development. These include patents and copyrights. Patents ensure that a firm possesses the exclusive right over certain means of production (Barney, 1991). A firm considers patents as important assets since it is able to employ unique production methods to achieve better results than the competitors. Goodwill is resources which a firm bears that make provide a competitive advantage over others. It may be in form of location, first mover advantage or custo mer loyalty. Goodwill usually puts a firm at a better state than the competitors and usually results in customer loyalty. It is therefore important in formulation of the firm’s strategy since it will ensure that firm strategic location and actions that will make it favorable over the competitors. A firm’s reputation ensures that it bears goodwill and this acts to foster the customer loyalty on the products. Architecture is the ability of a firm to bear different structures and networks that ensure it is well positioned to take on the competition provided by the other market players. Innovation gives a firm the ability to come with new products that are more appealing to the ever changing consumer tastes and preferences. A firm that is able to come up with new products will always enjoy a competitive advantage since its products will address the consumers presents tastes and preference.Advertising We will write a custom coursework sample on SLP internal analysis and SWOT Analysis specifically for you for only $16.05 $11/page Learn More Conclusion The Resource Based View is therefore and important management tool that is used to formulate a company’s strategy using the internal environment analysis. An internal environment will always provide the controllable parameter that an organization can manipulate to achieve its set targets and objective. References Barney, J. B. (1991). Firm Resources and Sustained Competitive Advantage. Journal of Management , 99-120. Comeford, R., Callaghan, d. (2011). Environmental, industry, and internal analysis. London: Prentice Hall. Connely, D. (2010). Strategy for Internal Environment. Henry, A. (2007). The Internal Environment of an Organization. London: Oxford University Press.

Free ACT Practice Tests Massive Collection of Online Sources

Free ACT Practice Tests Massive Collection of Online Sources SAT / ACT Prep Online Guides and Tips When you’re trying to prepare for the ACT, the last thing you want to worry about is finding ACT practice tests. To help make the process a little less stressful for you, we’ve compiled this huge list of sources for free ACT practice tests and questions. Not all practice tests are created equal, though. For each test source, I’ll talk about how you can best use the practice material to best prepare for the ACT. Why Do You Need ACT Practice Tests? You, of course, understand that in order to prep for the ACT, you need practice material. Ultimately, though, you may need more practice tests (and more supplementary materials) than you’d expect. Let’s talk about the three key reasons why you’ll need an arsenal of tests and questions to go into the ACT 100% prepared. Real Practice One of the most stressful parts of taking any standardized test is sitting through potentially uncomfortable testing conditions. You have to stay focused and alert for several hours with few breaks, and you have to jump from section to section without breaking your stride. Taking officialACT practice tests under realistic testing conditions helps prepare you for test day. This means sitting through an entire test in one go while carefully timing how long you spend on each section For this type of preparation, you should really only use official ACT tests. Content Practice This component of ACT prep is about building your knowledge of all the content that’s actually tested on the exam. If you’re working on specific subject prep, you’ll need materials that test (and teach) understanding of subject-specific content. Official ACT practice questions are the ideal for this sort of practice, but they’re limited in number and should really be saved for â€Å"realistic† practice and/or strategy prep. Unofficial or supplementary materials can prepare you well when it comes to brushing up on content, even if they’re not in strict, official ACT format. Strategy Prep ACT questions follow a very particular set of rules when it comes to style and logic. Although unofficial practice tests try to recreate this with their practice questions, it’s rare to find an unofficial source that does a good job. Official practice tests are important when it comes to familiarizing yourself with strategy required to do well on the â€Å"real† ACT. The more comfortable you are with the various types of ACT questions, the more efficient and the more confident you’ll be on the actual test. Where to Find Official ACT Tests Now that you know why (and how) ACT practice materials are important, let’s talk about where you can find the gold standard of ACT prep material: official ACT tests. In this section, you’ll find both recent and older ACT tests. You should focus on the most current ACT recent for your practice although older tests will definitely be helpful if you need extra material. The good news is that the format of the ACT hasn’t changed that much over the past few decades, so older exams will still give you a good idea of what to expect on test day. I'm not kidding when I say that official practice materials are the gold standard in ACT prep. Free Official Tests These free ACT practice tests are great for officialpractice - those study sessions where you sit down under realistic testing conditions and finish an entire exam. I’d recommend using one as a diagnostic test towards the beginning of your study plan. Be careful not to use these up all at once - these are the only free official tests available. The newest official ACT(2015-2016) is the only one that reflects the test's most recent changes: paired reading passages and a new essay. Other than these updates, however, the ACT's overall content and format has remained pretty consistent. ACT Practice Test and Answers (2015-2016) – form number 72C ACT Practice Test and Answers (2014-2015) – form number 67C ACT Practice Test and Answers (20-2012) – form number 64E ACT Practice Test and Answers (2008-2009) – form number 61C ACT Practice Test and Answers (2005-2006) – form number 59F Free Official Practice Questions The ACT also publishes official practice questions (separate from the official practice tests) on its website. These questions are great for working on strategy and content prep. 75 ACT English questions 60 ACT Math questions 48 ACT Reading questions 40 ACT Science questions 1 ACT Writing prompt ACT Question of the Day Other Official Practice Materials There are other official ACT materials available for purchase: The Real ACT Prep Guidecontains five full official practice tests, which amounts to about 20 hours of study material. This book is awesome for strategy prep and officialpractice, but it will not be much help at all if you need to review test content. It costs about$15 on Amazon. The ACT Online Programcontains two full practice tests or about eight hours of study material. The â€Å"prep† that comes with the program isn’t particularly useful, though, so we advise you to skip that and just use the full tests. It costs about $40 on the ACT website. Where to Find (and How to Use) Unofficial ACTs As you may have noticed, there aren’t unlimited official ACT tests available for practice. If you’re planning on studying for 50+ hours, you’ll need to find supplementary sources. There are so many unofficial sources for ACT tests and practice questions, but these really vary in quality - you don’t want to use just any practice questions you find online without vetting them first. To help you find reliable sources for supplementary materials, I’ve compiled a list of resources here. There may be many other good sources out there, but this should get you off on the right track. Free Online Practice ACTs From Test Prep Companies You should be especially careful with using free prep from test companies since the quality of the material is often questionable. That being said, some companies offer practice tests or questions that may prove to be really helpful as supplementary materials. Just be especially mindful (if you choose to work with these materials) about not treating these practice questions as you would official prep - that means not relying too much on them for strategy or real test practice. Sophia.org Sophia.org offers 2-3practicetests each for ACT math, science, reading, English, and writing. Each practice test has about 60 questions and comes with an answer key and scoring guide. You need to make an account in order to access the (free) tests, and you need to opt in to making your profile private. The site encourages you to treat the practice tests like official practice, but (as you know by now) it's best to use these materials for content review. An example of a Sophia.org practice question Prepfactory.com You can access freematerials with this siteif you make an account. There's a social media-esque functionalitywhere you can test your skills against those of other students. I'd avoid this, however, and just focus on improving your own weak skill areas - it won't be helpful to compare yourself to others while you're studying. You can access practice questions through quizzes for different themed modules. The modules' content study material is a bit disjointed and cursory, so I would skip it and just focus on working through the practice questions. An example of a Prepfactory.com practice question Ivy Global Ivy Global offers both sample ACT questions and a full (unofficial) ACT practice test on its website. You can download their full ACT practice test without making an account or providing any personal information (a big plus). Ivy Global did make a real effort to put together a test that's very similar to the official ACT. I still wouldn't encourage you Ivyglobalfor official practice, but it might come in handy if you run through all of the free official ACT materials listed earlier in this article. An example of an Ivyglobal practice question Varsity Tutors Varsity Tutors has a ton of free material - it seems like there are thousands of practice questions available - but this company isn’t particularly careful about creating questions in the style of the ACT.You should be careful about not putting too much stock in the types of questions you use from this site. Another con - you really can't work through the questions until you register for an account, and you're pressured pretty hard to pay for their tutoring services. That being said, you might find Varsity Tutors helpful if you need access to a ton of material (i.e. if you plan on studying for 50+ hours), and/or if you're a high scorer and want toanalyze official ACT vs. non ACT questions. An example of a Varsity Tutors practice question Union Test Prep Union Test Prep offers one free practice test which is administered online. Each question is presented (and graded), which is very different from what you'll encounter on the actual ACT - the format of the exam reminds me more of the GRE than any college entrance exam, to be honest. You don't have to register with Union Test Prep to access these questions. An example of a Union Test Prep practice question Albert.io Albert.iooffers hundreds of practice questions for ACT Math, ACT Science and ACT Reading. You must create an account to answer questions, but you get 100 free credits, which you can use to answer up to 100 questions. The questions are all clearly tagged, so this can be a great resource for targetingspecific skills. An example of an Albertpractice question Kaplan If you register with Kaplan, you can sign up for a free ACT practice test. They have them scheduled in advance, so this will only work if one of their ACT test times fits within your schedule. I expect these practice tests to be similar to their prep book (which I'll get to shortly) - good for an introduction to the test, especially for low scorers, but not so helpful for students who are already familiar with the exam or are already getting relatively high marks. Princeton Review Princeton Review has a system that's pretty similar to Kaplan's - you can take a free ACT online demo and test if you register with the site. Princeton Review has a reputation for writing questions that are(conceptually) easier than what you'd see on the test, so this might not be the best option for high-scoring students who are looking to push up their scores. ACT Prep Books Unofficial ACT prep books can be helpful when it comes to content review and practice. The ACT is pretty transparent about what concepts they actually test on the exam - if you have weak areas, instructional books and practice questions (even if they’re not similar to ACT questions) can help you develop a better grasp of the material. One of the downsides to ACT prep books is that they aren’t free. You may be able to find these books at your public or school library if you’d rather not purchase the materials. If you’re looking for a more exhaustive list of the most helpful ACT books, especially for books by subject, check out our guide to the best ACT prep books. Best Non-Official ACT Book:The ACT Black Book A great book for strategy, the Black Book teaches you to think about the ACT as a predictable, standardized test. It offers alternative strategies for students who may not understand all concepts in the same way. If there's a downside to this prep book, it's that you have to be pretty self-motivated and self-driven in order to useit effectively. It costs about$17 on Amazon. Best Book for High Scorers:Barron's Barron’s books are very thorough and cover a lot of content. They’re good options if your score is already high, but you’re aiming for perfect (or close to perfect). Some of the questions can be unrealistically (and unhelpfully) difficult. It costs about$12 on Amazon. Best Book for Low Scorers:Kaplan This is an all-in-one book that covers all ACT sections. It includes practice tests and answer explanations in addition to basic ACT strategies. This book is not helpful if you’re pretty motivated to study and are serious about improving your score - this is really a bare-bones book It costs about$20 on Amazon. Making a Plan: How to Study for the ACT If you want to make the most of all these ACT materials, you’ll want to make a plan for using them strategically. The major steps you’ll need to take to make a plan are below, although you can get more detailed info if you check out our guide on how long you need to study for the ACT. These materials will be most helpful if you come up with a road map for using them before diving in. Get a Baseline: Start With a Diagnostic ACT Test Take one of the recent, official ACT tests to get a baseline score. Unofficial diagnostic tests won’t help you understand where you’d need to improve on the actual ACT. Checking out target schools (and their correlating target ACT scores) will give you a goal score range to aim for. Practice Strategy and Review Content With Supplementary Materials If you’re weak in strategy skills or content knowledge, you should primarily use unofficial supplementary materials to study and improve in those areas. You can use these practice questions to drill skills or test knowledge without worrying about wasting official prep material. Once you’ve spent some time learning new skills and content, you may want to really test your performance with the official ACT practice questions (not the full tests). Use Official ACTs As Full-Length Practice Tests You can always find more unofficial prep material, but there’s a limited number of official ACT practice tests. Use these official resources as full-length practice tests under real testing conditions. You shouldn’t stop there, though. Get everything you can out of those tests by carefully analyzing your answers and mistakes, so you know which skills and content areas you should focus on next. Remember to save one or two official tests for the end of your study program so you can familiarize yourself with a full-length exam before you take the actual ACT. What's Next? Now that you have a ton of material to work with, you might want to start thinking about putting together a (more detailed) study plan and ACT strategy. First, figure out how long you should plan on studying for the ACT. Next, determine what your own ACT score goal should be - what's a good score? A bad score? An excellentscore? If you don't have too much time to study but still want to prepare as best you can, download those official ACT tests and check out our guide to a 20 hour prep program. Want to improve your ACT score by 4+ points? Download our free guide to the top 5 strategies you need in your prep to improve your ACT score dramatically.

A patient requiring mechanical ventilation Essay

A patient requiring mechanical ventilation - Essay Example She was hospitalised for 4 weeks and needed the tracheostomy tube to be in place for 9-weeks following discharge. In general it is found that collaborations between the intensive care nurse and the intensive care specialist is vital for evaluating and managing the patient and to ensure that the outcomes are fruitful. In general, the mortalities for ARDS are high (40 to 50%), mainly due to the ineffective traditional methods of managing such patients that have been utilised in the past. However, with use of several evidence-based protocols, the outcomes can be improved. Some of the measures that were provided to Rita included include mechanical ventilation, tracheostomy, prone positioning (HOB elevation), antibiotic administration (as she had sepsis), ECMO (due to sudden drop in the partial pressure of oxygen), sedation protocols, supportive therapy, RBC packed cell and platelet transfusion and a conservative fluid strategy. Rita developed renal complications and aspiration pneumonia, which were effectively managed. A careful nursing plan requires to be chalked out to cater to the individual needs of the patient. Ideal treatment would ensure speedy recovery and early resumption of normal activities by the patient. Case Study of a Patient Suffering from ARDS and requiring Mechanical Ventilation and Nursing Care Introduction This case study is of a 38-year old female, by name Rita, who was suffering from acute distress respiratory syndrome (ARDS), due to sepsis and requiring mechanical ventilation and a nursing care plan. ARDS is a condition in which the lungs are unable to perform their usual function of absorbing oxygen (Ensure Care Plan 2011). ARDS usually may follow critical illnesses, serious injuries or developed after major surgeries. The condition is a form of pulmonary oedema not from a proper cardiac cause, which occurs due to a drop in pressure in the pulmonary arteries (ARDS Training 2010). In ARDS, there is leakage of fluids and proteins into the air sacs and the interstitial lung tissues leading to pulmonary oedema (caused from damage to the alveoli-capillary mechanism) (Austin CC 2012). There may be several mediators involved in the damage of the alveoli-capillary mechanism including microorganisms, toxins, allergens, neutrophils, TNF, etc. After injury, the symptoms can develop within en 24 to 72 hours, and the respiratory functions tend to deteriorate leading to decreased lung volumes and compliance (Ensure Nursing Plan 2011). Due to the damage to the pneumocytes type 2, the lungs collapse and there is a decrease in the volume of the lungs. Fibrocytes convert the intra-alveolar fluid to a fibrous tissue and leads to poor ventilation (causing hypoxemia). When ARDS progresses, the patient can develop respiratory failure and can lead to arrest of the cardiopulmonary functions (Ensure Nursing Plan 2011). Usually ARDS develops from an underlying cause or a lung disorder and may vary depending upon the geographical location, age g roup, etc. Some of the causes of ARDS include direct injuries (may be trauma, chemical, oxygen toxicity, damage from free radicals, thermal or burns, drug overdose, or sepsis), drowning (or near drowning) or hemorrhagic shock (ARDS Training 2010). The incidence of ARDS is about 140,000 to 150,000 cases each year, and about 40 to 50% of the affected cases develop mortalities (Ensure Care Plans 2011). This is a case

Development of mathematical model to calculate fuel consumption of Essay

Development of mathematical model to calculate fuel consumption of passenger cars - Essay Example The NEDC was simulated under laboratory conditions, and driving parameters together with the fuel consumption were measured. A few driving phases were identified so that any drive cycle may be composed by these phases; and mathematical relationships have been fitted on measured data for each of the phases. The world population is 6.5 billion at the moment and rising. Climate change has caused widespread greenhouse effects like global warming, higher acid levels in oceans and reduced ice cover at the poles (Harrabin, 2013). The major causes of greenhouse effect are the by-products of industrialization, and especially carbon dioxide (Samimi & Zarinabadi, 2011). The level of carbon dioxide, the main constituent of emission by vehicles, is linked to consumption of fuel by the vehicle. Due to this there is need to regulate the amount of greenhouse gases that are emitted into the atmosphere and this is effective by fuel economy. The fuel economy (FE) of any vehicle can be calculated as a r atio of distance travelled per unit volume of fuel consumed or as the ratio of fuel consumption per distance travelled (GFEI, 2013). Fuel economy standards can be of various forms such as litres of fuel consumed per hundred kilometres of distance travelled or distance travelled per unit volume of vehicle fuel (An, et al., 2011, p. 4). The regulations pertaining to fuel economy followed by the four largest automobile markets, namely, the US, the EU, Japan and China differ significantly from each other leading to a lack of global standards on the issue.

ENTERPRISE & SMALL BUSINESS MANAGEMENT Essay Example | Topics and Well Written Essays - 2500 words

ENTERPRISE & SMALL BUSINESS MANAGEMENT - Essay Example The external factors include culture, role models, work experience, education, and environment. It is important to look at all of these factors and their influence on entrepreneurial behaviour. The relationship between the entrepreneur, personality characteristics, values, and other dimensions helps explain why some become entrepreneurs and others do not. Entrepreneurship is often difficult and tricky, as many new ventures fail. In the context of the creation of for-profit enterprises, entrepreneur is often synonymous with founder. Most commonly, the term entrepreneur applies to someone who creates value by offering a product or service in order to obtain certain profit. While there is social entrepreneurship in most markets, business entrepreneurs often have strong beliefs about a market opportunity and are willing to accept a high level of personal, professional or financial risk to pursue that opportunity. Business entrepreneurs are viewed as fundamentally important in the capitalistic society. Some distinguish business entrepreneurs as either "political entrepreneurs" or "market entrepreneurs." There is also the concept of social entrepreneurship. Since the beginning of the history, people have been interested in studying the nature of entrepreneurship. They wanted to find the 'traits' that distinguished entrepreneurs from non-entrepreneurs and successful entrepreneurs from unsuccessful entrepreneurs. Some researchers believed that cognitive and psychological factors like intelligence, ambition and aggressiveness are the traits commonly found in entrepreneurs. However, there were also another set of researchers who believed that physical characteristics like height (especially more than average), large body structure and personal attractiveness are important traits of entrepreneurs. Most research studies on entrepreneurship suggest that there are certain factors that differentiate entrepreneurs from non - entrepreneurs. Some of these include initiative, desire to lead, integrity, self-confidence, analytical ability, and knowledge of the specific company, industry or technology. If in case the above mentioned factors are supplemented with traits such as charisma, creativity and flexibility, an individual is likely to be an effective leader. The presence of these characteristics in an individual does not guarantee that he will be an effective l