The Challenges of Entrepreneurship For an employee, time is money. For an entrepreneur, leverage is money.

Employees work hard, and their efforts and rewards are linear. Entrepreneurs work smart and their efforts and rewards are exponential. For instance, an employee makes a widget in an hour, two widgets in two hours, ten in ten hours. An entrepreneur would be more inclined to sell widgets or teach people about widgets, because these activities are scalable. That is, he can teach just one person about a widget in an hour, or in that same hour he could teach a thousand people the same thing. It takes no more effort to teach a thousand people than it does to teach just one. However, with more students comes greater benefit. The entrepreneur understands these economies of scale and takes advantage of them. Employees dont, and may even think that this sort of leverage is, somehow, dishonest or immoral. He might reason that since the effort of the teacher didnt change with the size of the class, the benefit to the teacher shouldnt grow with the number of students. Employees tend to think win-lose. Theres a saying, Employees work just hard enough to not get fired, and employers pay them just enough to keep them from quitting. An attitude of just getting by is common for someone in the employee mindset, but is unthinkable for the successful entrepreneur. Unfortunately, many budding entrepreneurs are deceived by unrealistic promises and projections, and they may expect their new venture to run on auto-pilot after they get a web site up and run a few ads. Doing as little as possible, and doing as much as possible, are polar opposites. Successful entrepreneurs are always in the latter group. Employees tend to think of getting, where entrepreneurs tend to think of giving. What are the main concerns that a prospective employee brings to the interview? How much will you pay me, what are the medical benefits, how much time for vacation? Entrepreneurs are more focussed on, What are your needs? How can I help you? How can I help you save money? Again, these are polar opposite ways of thinking. Entrepreneurs hire employees, not the other way around. And employees get by while entrepreneurs get rich. Which would you rather be? Finally, employees tend to think short-term, and entrepreneurs think long-term. An employee wants to get paid this week, and an entrepreneur realizes it may be months, or maybe even years, before his business is paying well enough to support him. Its the difference between pumping water and planting seeds. If you start pumping, you will get water quickly, but the flow stops when you stop working. If you plant seeds, you will eventually get fruit. And you will continue to get fruit long after youve planted your last seed. There are other challenges, to be sure: uncertainty, financial struggles during start-up, long hours, non-supportive spouse or friends, changing markets, etc. But the biggest single reason that entrepreneurs struggle is because they havent learned to think like entrepreneurs . Its not technique, or the opportunity or the market. Its attitude. Fortunately, there is no great mystery in overcoming this one major challenge. Its a matter of desire and discipline. Simply find successful entrepreneurs and ask them what books they recommend. Then, turn off your TV and start reading. Saturate your mind with the wisdom of those who have already succeeded. Read about what they have done and how they did it, then model your own efforts after theirs. At the same time, shield yourself as much as possible from the employee mindset. Be aware that your thinking habits are deeply entrenched, and it will take consistent effort over time to change. The Bible speaks directly to this when it says, For as he thinketh in his heart, so is he , and Keep thy heart with all diligence; for out of it are the issues of life. Many are the testimonies of people who thought success was out there some goal to be reached or thing to be obtained, and then discovered afterward what God has been telling us all along. In short, if you think like a successful entrepreneur, and work like a successful entrepreneur, you will be a successful entrepreneur. The only person standing in your way is you. Rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr ETHICAL CHALLENGES CONFRONTING ENTREPRENEURS WITHIN CONTEMPORARY GLOBAL ECONOMY: IN SEARCH OF A NEW WORLD ETHICS School ABSTRACT There has been a sea change in the world economy with perceived far-reaching consequences on all aspects of human civilization. This dramatic transformation is largely precipitated by the phenomenon of globalization. The transformation now taking place in the global economy is unprecedented. The increasing availability of global capital, coupled with advances in computing and communications technology, is serving to speed up the processes of globalization. Concurrently, the barriers to globalization are increasingly disappearing in most countries of the world (11). As a consequence, the word "globalization" is in daily use throughout the world: "mondialisation" in French, "globalisierung" in German, or "Quan qui hua" in China. of Business Administration, International University in Germany

Entrepreneurs are increasingly capitalizing on unprecedented business opportunities around the world being spawned due to globalisation of national economies. With that in mind, entrepreneurs need to exercise due diligence in conducting their businesses in a socially and ethically responsible manner internationally. Since, unethical business practices are not going to helpful to the sustainability of business enterprises strategically. Ethical behavior of businesses has become a major issue throughout the world; Unnethical behaviors of businesses are widely publicized by the media and the concerned c1t1zens. Examples of unethical business behaviour including, poor working conditions, low wages, enforced overtime, and harsh, sometimes brutal, discipline and corporal punishment, bribery, patent or copy right infringements, lying, and deceit about product performance and safety, deliberate use of harmful substances, intentional environmental pollution, discrimination, violation of promises are widely condemned. In this research article, an examination is made of ethical practices and propensities across nations which have considerable implications for global entrepreneurs. Keywords: Entrepreneurs, Ethics, Moral philosophy, Globalisation INTRODUCTION As the world is becoming more and more interdependent due to increasing globalization of world economy; mass migration; tourism and worldwide application of information technology, coupled with increasing regional and worldwide co-operation. Thus, modern enterprises including entrepreneurs are now operating within different socio-cultural environments involving people of culturally diverse backgrounds. This can also give rise to many ethical problems facing global entrepreneurs and international firms operating in different countries. Some of ethical dilemmas may include bribery; deceit/false information; anti-competitive behavior; discrimination; environmental issues; and social responsibility. Ethical Dilemmas in Business Practices Around The Globe Dealing with Competitors The manner in which companies compete with one another in the international market is a vital issue. If companies feel that some nations do not provide a leveled playing field for all competitors, they are less inclined to do business there all other things being equal. Two overriding concerns are violation of patents and copyrights and obtaining information about competitors. Outright violations of patents and copyrights that occur in some nations tend to impede international trade. The International Trade Commission estimated that the US alone loses $40 billion annually in sales and royalties from the theft of intellectual property (43). Asia, which is a collectivist culture, has been accused of the most serious offences of software piracy. Piracy is still considered legal in Indonesia, and Thailand, although software copyright protection legislation has been passed in Japan and Philippines. Despite the legal aspects against piracy in Japan, a high tolerance level still exists for software piracy activities in this country (63). Another concern of international companies is the degree to which various nations condone industrial espionage or obtaining information about competitors. Millions or perhaps billions of dollars may be lost as a result of such 1llegal act1v1t1es. There are, however, many ways for obtaining information about competitors, some of which are not overtly criminal even though they may well be unethical. These include the following:

Milking potential recruits who have worked for competitors; Picking brain at conferences; Conducting phony job interview; Hiring people away from competitors to obtain information; Interviewing competitors under false pretences; Debriefing design consultants who have served with competitors; Grilling suppliers; Infiltrating customer business operations; Studying aerial photographs of a company's plant; Taking plant tour (28)

Gaining information from competitors is a gray ethical area and the managers from different countries seem to accept such practices as a fact of doing business in a fast paced and fast changing world. Thus, gaining competitors information is considered ethical behavior by Hong Kong Chinese managers and Malaysian managers (48) and not a problem for US and UK employees (56). Ggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggg

The scope of what entrepreneurship involves will continue to change and evolve as the world continues to change and evolve, and yet there are some common issues of how to start a business, how to finance the business, how to run the business that within this community we can share and learn from each other. While we still have many heroes and stories, entrepreneurism is an established field with a wide range of issues at all stages of the enterprise.

A common denominator for all entrepreneurs is the challenge of starting a business, be it through inventing something, looking for a new idea within a business, finding the right opportunity to break into a business or buying into a franchise. And these entire take planning - organizing all the aspects so that you reach your goals. All entrepreneurs are also faced with financing their entrepreneurial venture. Even entrepreneurs usually are faced with financial hurdles within corporate rules. So unless the venture comes from your own pocket getting money is a challenge that requires preparing funding proposals or applications to be written and/or presented for loans, venture capital, angel investors or even IPO's. There is so much information written about these stages of an entrepreneurial venture that sorting the good from the bad is an overwhelming challenge in and of itself.

Once past those challenges, however, one would think there would be smooth sailing. Given the business has a good plan, everything should proceed with minor glitches. However, the implementation stage seems to be the real make-or-break point of an entrepreneurial venture. There are hypotheses that part of the problem is that idea people and implementation people are very different breeds of people, but there are enough exceptions to that rule that is a difficult position to defend. More realistic, perhaps, is that there are such a wide variety of skills needed at the implementation stage, that no one person can have the skills to manage all the functions well. The real talent is for entrepreneurs to recognize what they do well and then find employees or subcontractors who can fill the gaps.

One way to look at this implementation stage is to look at how many different skills are involved in operating a business. Operating a business involves employees, marketing, advertising, sales, communications, public relations, legal needs, government regulations, equipping the office, risk management, disaster planning, crisis management, insurance, technology, hardware, software, the internet, and the financial aspects of the company - bookkeeping, managing debt, taxes, and barter.

Without a strong technical basis, there is no business. Above and beyond this, however, is the conceptual aspect of management: ethics, leadership, growth philosophy, and even the exit strategy of the company. These are much less tangible, yet set the overall theme and direction that the business will take. hhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh

Conclusion One commentator has argued that there is a very serious case not against 'globalization', ... but against the particular version of it imposed by the world's financial elites. The brand currently ascendant needlessly widens gaps of wealth and poverty, erodes democracy, seeds instability, and fails even its own test of maximizing sustainable economic growth. (Kuttner 2002) The gap between rich and poor countries has widened considerably. However, as Sen (2002) has commented, to 'see globalization as merely Western imperialism of ideas and beliefs (as the rhetoric often suggests) would be a serious and costly error'. He continues: Of course, there are issues related to globalization that do connect with imperialism (the history of conquests, colonialism, and alien rule remains relevant today in many ways), and a postcolonial understanding of the world has its merits. But it would be a great mistake to see globalization primarily as a feature of imperialism. It is much bigger--much greater--than that. For example, while the reach and power of multinationals appears to have grown significantly, neither they, nor individual national governments, have the control over macro-economic forces that they would like. Ecological and technological risks have multiplied. Globalization in the sense of connectivity in economic and cultural life across the world, is of a different order to what has gone before. As we said at the start, the speed of communication and exchange, the complexity and size of the networks involved, and the sheer volume of trade, interaction and risk give what we now label as 'globalization' a peculiar force. All this raises particular questions for educators. Has the process of globalization eroded the autonomy of national education systems? How has it impacted on the forms that education now takes? What is the effect of an increased corporate presence and branding in education? What response should educators make? We examine these and other issues in globalization and the incorporation of education.