Entrepreneurship and Leadership

  What is Business Strategy To be clear, professionals think about strategy in different ways, so there isn’t a single clear definition of strategy. However, Michael Porter defines strategy as a competitive position, “deliberately choosing a different set of activities to deliver a unique mix of value.” In other words, you need to understand your competitors and the market you’ve chosen to determine how your business should react. Michael Porter and the industrial organisation paradigm After relabelling the field ‘strategic management’ in the late 1970s, the  focus moved towards industrial organisation economics in both theory and  method. At this time research was aiming to develop and test hypotheses  derived from the structure-conduct-performance (SCP) paradigm. The  basic idea of this paradigm is that the performance of a firm is determined by the industry in which it competes. The conduct of a firm is just a  reflection of the industry structure, so th...

 Entrepreneurial culture https://www.youtube.com/watch?v=pPu2ZKakLuI&ab_channel=EverydayEasyChinese A further important element of an entrepreneurship ecosystem is a healthy entrepreneurial culture. TV programmes such as The Tigers of Money (マネーの虎) in Japan and its many local variations such as Shark Tank in the US, El Mashrou3 ( المشروع) in Egypt, or Dragon’s Den in the UK are emblematic. It is very important to nurture an entrepreneurial culture as it reflects a society that values entrepreneurship. It serves as a beacon of light for new entrants and as an affirmative framework for its stakeholders. Entrepreneurial culture can be fostered through conferences and similar events, TV shows, public recognition, and in many more ways. The key objective is to raise the awareness for entrepreneurship as a career path just like any other profession. In the US entrepreneurial culture is very much at the core of its meritocratic society which is reflected in the popular American Dream ...

  VOCABULARY ITEM DEFINITION Balance-sheet A report that explains, for a period of time, the financial situation of a business taking into account the investment (assets), the debt (liabilities) and the resources given by the entrepreneur (equity) Sanitary-permit Is issued by the local health authority for an establishment to operate. VAT Value Added Tax VAT (IVA in Spanish) Unified-Basic-Salary It is the minimum income that a worker receives as a right to the work performed during a month Living-Salary   It is the product of the result of dividing the average value of the basic family basket registered in the year being calculated for the number of family earners established by the National Institute of Statistics and Censuses (INEC) Overtime   An ordinary worker is obliged to work 8 hours...

   Microeconomics and Macroeconomics   Microeconomics and macroeconomics are two of the largest subdivisions of the study of economics wherein micro- refers to the observation of small economic units like the effects of government regulations on individual markets and consumer decision making and macro- refers to the "big picture" version of economics like how interest rates are determines and why some countries' economies grow faster than others'.   Microeconomics: Individual Markets    Those who have studied Latin know that the prefix “micro- “means “small,” so it shouldn’t be surprising that microeconomics is the study of small economic units. The field of microeconomics is concerned with things like:   consumer decision making and utility maximization firm production and profit maximization individual market equilibrium effects of government regulation on individual markets externalities and other market side effects   Micr...

https://www.youtube.com/watch?v=dWOjzjvFPf0&ab_channel=WeGrowPeople   Value Added Tax VAT (IVA in Spanish) It is a tax that is charged on the value of local transfers or imports of personal property, in all its stages of commercialization and on the value of the services rendered.  Who has to pay? -         All persons and companies that provide services and / or carry out transfers or imports of goods must pay Value Added Tax (VAT). -         Those who have paid VAT may use it as a tax credit in the cases contemplated in the Internal Tax Regime Law. -         Additionally, the persons and companies designated as withholding agents through current tax regulations, will withhold VAT in cases that warrant. -         This tax is declared and paid monthly when transactions are taxed and / or when VAT is withheld, and semi-annually whe...

 https://acct2331.com/chapters/1/problems/account-classifications-1 https://www.liveworksheets.com/w/en/accounting/1309646

  Unified Basic Salary It is the minimum income that a worker receives as a right to the work performed during a month; It should be noted that this minimum income is adjusted by the Ministry of Labor on an annual basis. For example, for 2016 a basic salary equivalent to US $ 366 has been established. For the year 2022, the basic salary is US $425. In 2023, the basic salary is 450 USD. Currently, this amount is 460 dollars Living Salary It is the product of the result of dividing the average value of the basic family basket registered in the year being calculated for the number of family earners established by the National Institute of Statistics and Censuses (INEC). If a worker has received monthly, as total remuneration, which includes basic salary and other social benefits, a value lower than the living wage, the company is obliged to cover that difference with its own funds. Overtime An ordinary worker is obliged to work 8 hours a day, 5 days a week. Although there is the figur...