5-4 Three Key Questions When studying an industry, an entrepreneur must answer three questions before pursuing the idea of starting a firm Is the industry accessible—in other words, is it a realistic place for a new venture to enter? 5-5 Industry Versus Firm-Specific Factors Firm-Level Factors –Include a firm’s assets, products, culture, teamwork among its employees, reputation, and other resources.
5-6 The Five Competitive Forces That Determine Industry Profitability (1 of 3) Explanation Porter’s Five Forces Model –The five competitive forces model is a framework for understanding the structure of an industry.
5-8 The Five Competitive Forces That Determine Industry Profitability Threat of Potential Entrants Threat of Substitutes Bargaining Power of Buyers Bargaining Power of suppliers Degree of Existing Rivalry Degree of existing rivalry. 5-9 Rivalry Among Existing Firms (1 of 3) Rivalry Among Existing Firms –In most industries, the major determinant of industry profitability is the level of competition among existing firms.
5-10 Rivalry Among Existing Firms (2 of 3) Factors that determine the nature and intensity of the rivalry among existing firms in an industry Number and balance of competitors Degree of difference between products The more competitors there are, the more likely it is that one or more will try to gain customers by cutting its price. 5-11 Rivalry Among Existing Firms (3 of 3) Factors that determine the nature and intensity of the rivalry among existing firms in an industry (continued) Growth rate of an industry Level of fixed costs The competition among firms in a slow-growth industry is stronger than among those in fast-growth industries.
5-12 The Five Competitive Forces That Determine Industry Profitability Threat of Potential Entrants Threat of Substitutes Bargaining Power of Buyers Bargaining Power of suppliers Degree of Existing Rivalry Bargaining power of suppliers.
5-13 Bargaining Power of Suppliers (1 of 3) Bargaining Power of Suppliers –Suppliers can suppress the profitability of the industries to which they sell by raising prices or reducing the quality of the components they provide. 5-14 Bargaining Power of Suppliers (2 of 3) Factors that have an impact on the ability of suppliers to exert pressure on buyers Supplier concentration Switching costs Switching costs are the fixed costs that buyers encounter when switching or changing from one supplier to another.
5-15 Bargaining Power of Suppliers (3 of 3) Factors that have an impact on the ability of suppliers to exert pressure on buyers (continued) Attractiveness of substitutes Threat of forward integration The power of a supplier is enhanced if there is a credible possibility that the supplier might enter the buyer’s industry. 5-16 The Five Competitive Forces That Determine Industry Profitability Threat of Potential Entrants Threat of Substitutes Bargaining Power of Buyers Bargaining Power of suppliers Degree of Existing Rivalry Bargaining Power of Buyers Determined by number of buyers, the firm’s degree of differentiation, the portion of a firm’s inputs sold to a particular buyer, the portion of a buyer’s purchases bought from a particular firm, switching costs, and potential for vertical integration. 5-17 Bargaining Power of Buyers (1 of 3) Bargaining Power of Buyers –Buyers can suppress the profitability of the industries from which they purchase by demanding price concessions or increases in quality. 5-18 Bargaining Power of Buyers (2 of 3) Factors that have an impact on the ability of suppliers to exert pressure on buyers Buyer group concentration Buyer’s costs The greater the importance of an item is to a buyer, the more sensitive the buyer will be to the price they pay. 5-19 Bargaining Power of Buyers (3 of 3) Factors that have an impact on the ability of suppliers to exert pressure on buyers (continued) Degree of standardization of supplier’s products Threat of backward integration The power of buyers is enhanced if there is a credible threat that the buyer might enter the supplier’s industry. 5-20 The Five Competitive Forces That Determine Industry Profitability Threat of Potential Entrants Threat of Substitutes Bargaining Power of Buyers Bargaining Power of suppliers Degree of Existing Rivalry Threat of substitutes. 5-21 Threat of Substitutes (1 of 2) Threat of Substitutes –The price that consumers are willing to pay for a product depends in part on the availability of substitute products. 5-22 Threat of Substitutes (2 of 2) Threat of Substitutes (continued) –The extent to which substitutes suppress the profitability of an industry depends on the propensity for buyers to substitute between alternatives. 5-23 The Five Competitive Forces That Determine Industry Profitability Threat of Potential Entrants Threat of Substitutes Bargaining Power of Buyers Bargaining Power of suppliers Degree of Existing Rivalry Threat of potential entrants.
5-24 Threat of New Entrants (1 of 6) Threat of New Entrants –If the firms in an industry are highly profitable, the industry becomes a magnet to new entrants. 5-25 Threat of New Entrants (2 of 6) Barrier to EntryExplanation Economies of scale Product differentiation Capital requirements Barriers to Entry Industries that are characterized by large economies of scale are difficult for new firms to enter, unless they are willing to accept a cost disadvantage.
5-26 Threat of New Entrants (3 of 6) Barrier to EntryExplanation Cost advantages independent of size Access to distribution channels Government and legal barriers Barriers to Entry (continued) Entrenched competitors may have cost advantages not related to size.
5-27 Threat of New Entrants (4 of 6) Nontraditional Barriers to Entry –It is difficult for start-ups to execute barriers to entry that are expensive, such as economies of scale, because money is usually tight. 5-28 Threat of New Entrants (5 of 6) Barrier to EntryExplanation Nontraditional Barriers to Entry Strength of management team If a start-up puts together a world-class management team, it may give potential rivals pause in taking on the start-up in its chosen industry.
5-29 Threat of New Entrants (6 of 6) Barrier to EntryExplanation Nontraditional Barriers to Entry (continued) Unique business model Inventing a new approach to an industry and executing the idea in an exemplary fashion If a start-up is able to construct a unique business model and establish a network of relationships that makes the business model work, this set of advantages creates a barrier to entry.
Fun Ideas for a Presentation at a New Hire Orientation by Heidi Cardenas New-hire orientations can be fun as well as professional and informative. Author of the Amalion publication Le Choix de l’Ori, Louis Camara, was interviewed by Mbagnick K. Three Amalion titles featured at this year’s edition of Paroles Indigo, a literary and artistic festival of voices from around the world. The festival gathered artists, musicians, publishers and writers from Europe, Africa and the Middle East.
Ever since she studied film in France, she had expressed an intense desire to meet and work with Sembène.
Wala Bok, launched in July 2015 in Paris, is an anthology of stories and interviews with various musicians and producers on the bustling Senegalese hip-hop scene of the past three decades. Amalion Publishing featured amongst other scholarly publishers at the Sixth European Conference on African Studies (ECAS). As for Amalion’s presence at the conference, there was no time wasted in displaying fresh, new content.
In the interview, Adebowale talks about his experience at the international fair and at length about Amalion’s beginnings, its business process, its position on e-books and digital media, and other subjects. Ladan Osman's collection, The Kitchen Dweller's Testimony, is the winner of the 2014 Sillerman First Book Prize for African Poets.
The African Poetry Book Fund publishes four new titles each year, including the winner of the Sillerman prize and one new volume by a major African poet.
African Poetry Book Fund Series editor Kwame Dawes praised The Kitchen Dweller's Testimony, saying that "only the genius of sincerity of voice and imagination can allow a poet to contain in a single poem both consuming gravitas and delightful whimsy. Osman, whose parents are from the city of Mogadishu, Somalia, has received fellowships from the Luminarts Cultural Foundation, the Fine Arts Work Center, Cave Canem and the Michener Center for Writers. The fund and its partners also support seminars, workshops and other publishing opportunities for African poets, as well as the African Poetry Libraries Project.
Author of the poetry collection Les Rasins du baobab, Ibrahim Niang, had five of his poems featured in the Prague-based literary website The Prague Review. Born George Awoonor Williams on 13 March 1935 in Wheta, the southeastern part of Ghana, Kofi Nyidevu Awoonor was a diplomat, a professor of comparative literature at numerous universities, and recently retired from teaching full-time in the Department of English at the University of Ghana. He published several volumes of poetry, including Rediscovery and Other Poems (1964), under his initial name George Awoonor Williams, Night of My Blood (1971), Ride Me, Memory (1973), The House by the Sea (1978) a product of his time as a political prisoner without trial, and The Latin American and Caribbean Notebook (1992).
A state memorial service will be held on the 11 October and a final laying to rest on 9 November 2013 in his hometown, Wheta, Ghana. Amalion Publishing and TrustAfrica cordially invite you to the launch of "Giving to Help, Helping to Give: The Context and Politics of African Philanthropy" Edited by Tade Akin Aina and Bhekinkosi Moyo. Journalist and translator Chip Rossetti  interviewed Amalion Publishing about the challenges it faces in the future of its growth.
The director of Amalion, Sulaiman Adebowale, deliberates on the effectiveness of publishing editions in English and French to tap into both literary markets.
The original article was featured in the magazine Show Daily for the 23rd Abu Dhabi International Book Fair. Definition of Entrepreneur The term entrepreneur has derived from the French word Entreprendre that means to take the responsibility or initiative of doing something. Change from Present Lifestyle: Disruption Companies are formed by people who have retired, relocated or fired. Form New Enterprise The decision to start a new business occurs when an individual perceives it both desirable and possible.
Desirability of New Venture Formation: Culture A culture that values entrepreneurship American culture places high value on being one’s boss, having individual opportunities, being a success and making money-all aspects of entrepreneurship.
Desirability of New Venture Formation: Sub- culture Many subcultures that shape value systems operate within cultures.
Desirability of New Venture Formation: Family Founders of many companies had parents who valued independence. Desirability of New Venture Formation: Teachers Teachers can influence individuals to regard entrepreneurship as desirable and viable career path. Desirability of New Venture Formation: Peers Entrepreneurial pool and meetings where people can discuss ideas, problems, and solutions spawns more new companies.

Possibility of New Venture Formation: Background Formal education and previous business experience. Possibility of New Venture Formation: Marketing Presence of sufficient market size is not enough to succeed, marketing know-how matters. Possibility of New Venture Formation: Role Models Seeing someone else succeed makes it easier to picture oneself in similar activity.
Possibility of New Venture Formation: Financial Resources Start up money for a new company comes from personal savings, credit, friends, and relatives. Types of Start-Ups Lifestyle Firm: A small venture that supports the owners and usually does not grow. Uncontrolled Growth Poor location Improper inventory control Incorrect or unsuitable pricing The inability of to move into entrepreneurial thinking mindset from the previous secured permanent managerial position held.
Industry –An industry is a group of firms producing a similar product or service, such as airlines, fitness drinks, furniture, or electronic games.
Are there positions in the industry that will avoid some of the negative attributes of the industry as a whole?
Industry-Level Factors –Include threat of new entrants, rivalry among existing firms, bargaining power of buyers, and related factors. Price-cutting occurs more often when all the competitors in an industry are about the same size and when there is no clear market leader. Slow- growth industry firms must fight for market share, which may tempt them to lower prices to gain market share. Determined by number of suppliers and their degree of differentiation, the portion of a firm’s inputs obtained from a particular supplier, the portion of a supplier’s sales sold to a particular firm, switching costs, and potential for vertical integration. Supplier power is enhanced if there are no attractive substitutes for the product or services the supplier offers.
For example, if the component sold by the supplier represents 50% of the cost of the buyer’s product, the buyer will bargain hard to get the best price for that component. The degree to which a supplier’s product differs from its competitors affects the buyer’s bargaining power.
Determined by number of potential substitutes, their closeness in function and relative price.
Industries such as the soft drink industry that are characterized by firms with strong brands are difficult to break into without spending heavily on advertising. For example, the existing competitors in an industry may have purchased property when it was much less expensive than a new entrant would have to pay.
First-mover advantage If a start-up pioneers an industry or a new concept within an existing industry, the name recognition that the start-up establishes may create a formidable barrier to entry. If a start-up invents a new approach to an industry and executes it in an exemplary fashion, these factors create a barrier to entry for potential imitators.
In it, Senghor talks about her love of hip-hop and its influence on Senegalese, music and culture. The event closed with a testimony to the art form and a performance from local rap artist Matador. RFI Musique is a TV programme and website that delivers the latest news about French and African music.
It offers an eye-opening look into the ideas and processes behind the evolution of this youthful, purely African sub-genre. The event, which took place in Paris between 8 and 10 July 2015, serves as a platform for conversation on sciences and humanities in Africa as well as in the Diaspora. The interview was conducted jointly by Chariffou Ouro-Sama and Clemens Benkel from the Africa Development Group. Osman will receive a $1,000 cash award and publication of her book with the University of Nebraska Press and Amalion Publishing in Senegal. Her work has appeared in various publications, including American Life in Poetry, Artful Dodge and Prairie Schooner, among others. Sillerman, whose contributions have endowed the establishment of the African Poetry Book Fund and Series. As a partner of the African Poetry Book Fund and Series, Prairie Schooner, the literary journal of the University of Nebraska-Lincoln, manages the Sillerman prize. The Prague Revue specializes in publishing up-to-date modern literature, be it essays, short fiction or poetry. He died in the terrorist attack by al-Shabaab militants at the Westgate shopping mall on 21 September 2013 in Nairobi, Kenya.
Generally to express the desire to do something after getting new ideas about something new is called entrepreneurship.
According to Webster Dictionary, “Organize the economical organizations and the ability of taking risk is called entrepreneurship." According to Basu and Moulik, "Entrepreneurship means – a.
In 17th century the word entrepreneur was used to mean the architects and contractors of the Public Works. Jean Baptist says, "An entrepreneur is the most important agent of production who provides continuing management and brings together the factors of production. An entrepreneur is such a person who takes initiatives to do something new which adds new dimension to society. Despite recession, inflation, high interest rate, lack of infrastructure, economic uncertainty, and high probability of failure. Marketing: individuals have become familiar with the market and customer’s unfilled need, and leave to start new business to fill these needs. Completion of educational degree is another form of disruption ( not receiving the desired promotion after completion of MBA degree). Pockets of entrepreneurial sub-cultures within USA: Route 128 (Boston), Silicon Valley (California), Cleveland, Austin. Independence achieved by company owners, professionals, artists, professors, or farmers permeates their family life. The number of entrepreneurship courses a person takes increases the probability of starting a venture. Individuals will be more successful in forming businesses in fields where they have worked. Foundation Company: A type of company formed from research and development that usually does not go public. Conclusion –In various studies, researchers have found that from 8% to 30% of the variation in firm profitability is directly attributable to the Industry in which a firm competes. In fast-growth industries, there are enough customers to go around, making price-cutting less likely.
When there are only a few suppliers that supply a critical product to a large number of buyers, the supplier has an advantage.
For example, there is little the computer industry can do when Intel or Microsoft raise their prices, as there are simply no practical substitutes for their products.
This allows the automakers to suppress the profitability of the industries from which they buy by demanding price reductions.
If the buyers are concentrated, meaning that there are only a few large buyers, and they buy from a large number of suppliers, they can pressure the suppliers to lower costs and thus affect the profitability of the industries from which they buy. For example, a buyer who is purchasing a standard product, like the corn syrup that goes into soft drinks, can play one supplier against another until it gets the best combination of price and service. The need to invest large amounts of money to gain entrance to an industry is another barrier to entry. Passion of the management team and employees If the employees of a start-up are highly motivated by the unique culture of a start-up, and anticipate large financial rewards through stock options, this is a combination that cannot be replicated by larger firms. Internet domain name Some Internet domain names are so “spot-on” in regard to a specific product or service that they give a start-up a meaningful leg up in terms of e-commerce opportunities.

Topics ranged from Camara’s choice of publishers, the Yoruba culture and his wishes for artistic creativity in the future. The festival, which took place in the historic Roman city of Arles, France, ran from 30th October until the 2nd November 2015.
The Centre for Translation hosted bilingual readings from Sika Fakambi and Adebowale of extracts of the works of Kofi Awoonor and Kevin Eze among other events. The Frankfurt Book Fair attracts thousands of professional publishers from all over the world to meet and trade content on an international level. Her chapbook, "Ordinary Heaven," will appear in Seven New Generation African Poets: A Chapbook Box Set (Slapering Hol Press, 2014). The Sillerman prize is awarded to African writers who have not published a book-length poetry collection.
In addition to Dawes, the African First Book Fund editorial board is comprised of Chris Abani, Matthew Shenoda, Gabeba Baderoon, John Keene and Bernardine Evaristo. The article was then published on Publishing Perspectives, an outlet for information on the book industry. Ultimately, it comes down to a problem of marketing and distribution logistics in the African continent. It is the process of creating something new with value by devoting the necessary time and effort, assuming the accompanying financial, psychic and social risks, and receiving the resulting rewards of monetary and personal satisfaction and independence.
In 16 th century someone who successful did something in the field of military service was called an entrepreneur.
A manager is such a person who is involved with supervising all daily activities of an institution.
Entrepreneurial decision process entails a movement from a present lifestyle to forming a new enterprise. MIT and Harvard are located near Route 128, Stanford in Silicon Valley facilitates entrepreneurship. Companies are more easily formed when driving force is more from the market demand than a technology push.
High-potential venture: A venture that has high growth potential and therefore receives great investor interest.
This change is accompanied by growth and increased output, which allows for more wealth to be divided by the various participants. Existing businesses have the financial resources, business skills, and the marketing and distribution systems to commercialization innovation successfully. For example, the firms in commodity industries (such as paper products) tend to compete on price because there is little difference between one manufacturer’s products and another’s.
Firms that have high fixed costs must sell a higher volume of their product to reach the break-even point than firms with low fixed costs. A barrier to entry is a condition that creates a disincentive for a new firm to enter an industry. The Paroles Indigo festival, in its third year of production, is a celebration of multicultural media through lectures, book launches and the performing arts. From this, we are then subject to discussions on politics, feminism, the music industry and the importance of the rapper as a social and educational figure. It has no literal translation; however it is very versatile and can be used in almost any situation (even as a greeting). The event was co-organised by the Institut des mondes africains (IMAF) and Les Afriques dans le monde (LAM).
An "African writer" is taken to mean someone who was born in Africa, is a citizen or resident of an African country, or whose parents are African.
At the end of 18 th century Oxford Dictionary defined an entrepreneur who worked as a director in a music institution. An areas having a strong education base is strong support factor for entrepreneurial activity. However, bureaucracy, focus on short term profits and highly structured organization inhibit creativity and prevent new products from development. Their inventions are often unrealistic, requiring significant modifications to be marketable. As a result, firms with high fixed costs are anxious to fill their capacity, and this anxiety may lead to price-cutting.
For a new sports drink to be placed on the shelf, it has to displace a product that is already there. At the conference, Amalion exhibited alongside L’Oiseau Indigo, a collective that distributes and promotes books of publishers from the African and Arab world. They also do not know how to interface with the necessary entities: banks, suppliers, customers, venture capitalists, distributors, and advertising agencies. In knowledge intensive industries, such as biotechnology and software, patents, trademarks, and copyrights form major barriers to entry. The most successful orientations are entertaining, as well as informative, and involve interactive activities rather than straight lectures. The new capital created expands the capacity for growth (supply side), and the resultant new spending utilizes the new capacity and output (demand side). Yet, entrepreneurship is presently the most effective method for bringing new products and services to the market place. Other industries, such as broadcasting, require the granting of a license by a public authority. Keep physically fit, consume healthy foods, and avoid addictive consumption cigarettes and alcohol. Avoid dry presentations in lecture style by human resources personnel and instead invite key employees to orientations to tell their stories. Select key employees who want to participate in orientations and be mentors to new employees.
Their thought are specific or limited in scope less to learnt, and them works with security 3. Ask them to discuss their careers with the company, talking about what they like about their work and what their challenges have been, then offer to be mentors. Have the presenter ask questions about company history, industry facts or other relevant information.
Post an enlarged organizational chart at the front of the orientation at the beginning, then take it down when the matching games begin. Replace it with a board that has employee names on one side and titles on the other, on cards affixed with Velcro or double-sided tape. Jumble the names and titles on the board, then have new employees take turns trying to match the names with their titles. Use matching games for other information such as matching company products with packaging or matching company locations with the number of employees at those locations.
Have a space at the top of the worksheet for employees to write in the product or service, and include spaces for description, features, pricing, guarantees or warranties, and typical customers.
Either have key managers come to the orientation to discuss products and services and have new employees take notes on their worksheets, or have completed worksheets for employees as handouts. Her professional background includes human resources and business administration, technical writing and corporate communications. She has studied horticulture and business administration, and enjoys guest blogging for publications including Herb Companion Magazine, Natural Home Living Magazine, and Mother Earth Living.

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