Entrepreneurship and Leadership

   Defining the investment needed   After the studies related with the market, the productive process and the resources needed to generate the good or service are done, the entrepreneur must transform this data and information into monetary terms. Among the fundamental elements, that take part of the total investment are the investment of working capital and the investment of fixed capital.   The Physical and Material Resources to start an Entrepreneurship With the information about the estimate of physical and material resources, the entrepreneur is in the capacity to express them in monetary terms. This way we can know if the financial resources available are enough to finance the business that you want to begin.    The estimate of the investment needed is an activity that helps to evaluate, at first the feasibility of what the entrepreneur wants to make, because it will be difficult to get funds for projects too ambitious in terms of investment. Also, th...

    Social Responsibility The activities done by an entrepreneur must be aligned to social responsibility. The main elements of social responsibility are economy, society and the environment. An entrepreneurship must be driven by good relationships with the members of society.    Social Responsibility as a Business An entrepreneur must not only search for financial stability but also for social stability. Nowadays the society is well educated in all aspects and expect more from products. The excellent quality of a product and good customer service will help them in the social aspect.   Social responsibility is shown by the owner of a business when there is a balance between the following aspects: -         Economic: Effective and efficient production -         Social: To look for the good living of the members of society -         Environment: To lower any im...

  The touristic activities and those businesses related to the production of food, require the fulfillment of requirements that the legislation of Ecuador has established as an obligation. One of them is the sanitary permit.   Sanitary Permit   A sanitary permit is issued by the local health authority for an establishment to operate, be it food or not food establishment. This permit is subject to control and health observation to make sure all the products that will be offered to the public are not harmful.   How to obtain an Operating Permit? According to regulation, to obtain an operating permit you need to go to the ARCSA which in Spanish means “Agencia Nacional de Regulación, Control y Vigilancia Sanitaria”. The permit is valid for one year. The following documents are needed to obtain an operating permit:   a)       STR or RUC in spanish b)      Identity card c)       Documents proving th...

  Generally, a business has four basic areas of operation: marketing, production, finance and human talent. These functions, at the beginning of the business operation, tend to be fulfilled, often in unison, by the entrepreneur himself. From the point of view of systems thinking, for these areas to generate the expected results, it is necessary that they work under a functional articulation approach; that is, under the premise that they are parts that operate in an interrelated manner around a whole, the business, which pursues a common goal.       When setting up a company,  from the perspective of the functional areas´  existence ,  why does the entrepreneur often become an  orchestra person ?  In almost all cases, the functional areas of a new company are usually related to the areas of marketing, finance, production and human talent management. At the beginning, these areas may be brought together, but they may be interrelated, witin...