OVERVIEW.

Entrepreneurs are frequently thought of as national assets to be cultivated, motivated and remunerated to the greatest possible extent.
Entrepreneurs can change the way we live and work. If successful, their innovations may improve our standard of living. In short, in addition to creating wealth from their entrepreneurial ventures, they also create jobs and the conditions for a prosperous society.

SOME CHARACTERISTICS OF ENTREPRENEURS.

PSYCHOLOGICAL CHARACTERISTICS

* Entrepreneurs have high need for achievement and success.
* They posses strong desire for responsibility and independence.
* They have a high degree of self confidence.
* Entrepreneurs do not like routine work, they venture some and like to experiment.

SOCIOLOGICAL CHARACTERISTICS

* Entrepreneurs are goal-oriented.
* They have capacity to adapt to changing conditions.
* They have ability to organize men, materials, money and machine to achieve goals.

ECONOMIC CHARACTERISTICS

* Profit-oriented. ‘Entrepreneurs accept profits as legitimate reward for enterprise.
* They have the ability to take risk.
* They also have the ability to innovate and speculate.

REASONS WHY ENTREPRENEURS ARE IMPORTANT TO THE ECONOMY.

INTRODUCTION OF NEW BUSINESS.

Path breaking offerings by entrepreneurs, in the form of new goods & services, result in new employment, which can produce a cascading effect or virtuous circle in the economy. The stimulation of related businesses or sectors that support the new venture add to further economic development.
Businesses in associated industries, like call center operations, network maintenance companies and hardware providers, flourished. Education and training institutes nurtured a new class of IT workers offering better, high-paying jobs. Infrastructure development organizations and even real estate companies capitalized on this growth as workers migrated to employment hubs seeking new improved lives.
Similarly, future development efforts in underdeveloped countries will require robust logistics support, capital investment from buildings to paper clips and a qualified workforce. From the highly qualified programmer to the construction worker, the entrepreneur enables benefits across a broad spectrum of the economy.

IMPROVES NATIONAL ECONOMY.

Entrepreneurial ventures literally generate new wealth. Existing businesses may remain confined to the scope of existing markets and may hit the glass ceiling in terms of income. New and improved offerings, products or technologies from entrepreneurs enable new markets to be developed and new wealth created.
Additionally, the cascading effect of increased employment and higher earnings contribute to better national income in form of higher tax revenue and higher government spending. This revenue can be used by the government to invest in other, struggling sectors and human capital.
Although it may make a few existing players redundant, the government can soften the blow by redirecting surplus wealth to retrain workers.

SOCIAL CHANGE.

Through their unique offerings of new goods and services, entrepreneurs break away from tradition and indirectly support freedom by reducing dependence on obsolete systems and technologies. Overall, this results in an improved quality of life, greater morale and economic freedom.
Moreover, the globalization of tech means entrepreneurs in lesser-developed countries have access to the same tools as their counterparts in richer countries. They also have the advantage of a lower cost of living, so a young individual entrepreneur from an underdeveloped country can take on the might of the multi-million dollar existing product from a developed country.

DEVELOPMENT.

Entrepreneurs regularly nurture entrepreneurial ventures by other like-minded individuals. They also invest in community projects and provide financial support to local charities. This enables further development beyond their own ventures.
Some famous entrepreneurs, have used their money to finance good causes, from education to public health. The qualities that make one an entrepreneur are the same qualities that motivate entrepreneurs to pay it forward.

OVERVIEW.

Recently,many companies /businesses have gone and many are still in the process of going bankrupt due to the activities of scammers/fraudsters.

The purpose of this publication is to serve as awareness/public enlightenment campaign or eye opener to many companies and businesses to the various ways or method used by scammers and how to avert the possibilities of falling victim to this scammers.

WHAT IS SCAM AND WHO ARE SCAMMERS?

 

Scam according to oxford advanced learner’s dictionary is “a clever and dishonest plan for making money”.Therefore, Scammers are person or group of people who use a clever and dishonest plan to make money.

WAYS/METHODS USED BY BUSINESS SCAMMERS.

Before going into methods scammers used, We have to understand that the highest strategy scammers normally adopt is to lure unsuspected companies or businessmen and women to trust them either by sending fake documents or through fake profile.   The various ways include the following..

FAKE OFFER (SELLER).

With this method,the scammer will claim to be selling a particular product. To ensure that his victim trust him,the scammer will provide fake product’s pictures(sometimes pictures gotten from a real seller). Also every other documents that the business might require,like soft corporate offer(SCO/FCO). This documents are always fake but they will make it look real to convince their victim.

FAKE BUYER (CUSTOMER).

Their aim here is to make the real seller think he is dealing with true buyer. To achieve their objective of scamming the seller, they will accept all the seller’s terms and conditions including his selling price,even if the price is high compare to the market price.After all documents signing,then comes their main act,some will tell the seller that there is government policy that requires the seller to obtain export license for his product. The scammer will now refer the seller to his co-scammer, that will then act as government agent in-charge of the license.

VIRUS.

Many companies and businessmen have entered into this net/trap set by scammers without even knowing.At times you will get a spam message in your mail,most of this spam will enter your inbox instead of the junk mail folder.The worst mistake a businessman/company will make is to click this spam message,this is because it is not just a spam message rather virus designed to get/generate email password and deliver to the sender.I will not be discussing what a scammer will do with the email password,just consider this as an intruder/thief having a spare key to your room/apartment or room. You can also think this as a thief having the combination of your lock. Imagine what you will lose with this lick of classified information.

LINKS AND FILE.

This method is also targeted at getting their victim’s business confidential information. To achieve this scammers posed as customers to company/businessmen,thereby sending to them a link or file designed sometimes as catalogue of products the required from the company/businessman. To open this file or link ,the company or businessman will be required to enter their email id and password in a space provided in the link or file. Once the email id and password is entered this information is delivered to the sender(scammer).

I certainly believe that the methods discuss above are not the only ways that scammers are using,but the few discussed method are informations gotten in the course of our research and survey conducted with many companies and businessmen, some of whom have fallen victims to this scammers.

FEW SUGGESTED WAYS TO AVOID SCAMMERS.

Knowing that the highest strategy,scammers adopt to succeed with their evil deed is to get their victims to trust them. I highly suggest/advice that companies and businessmen should not do business only base on trust rather trust coupled with every business ethics especially during payment.

Companies and businessmen should choose payment method that are suitable for them,having in mind those payment methods that ensures that they recieve the goods and services they paid for.

Before paying for any export license to anybody in another country,companies and businessmen should make necessary inquiries to ensure that such policy exist and that they are paying to the right authority or office.

To avoid giving business email password to scammers unknowingly, companies and businessmen should be careful with mail handling to avoid opening a virus designed to get/generate email password.Also companies and businessmen should avoid/neglect file and links that requires them to enter their email id and password,unless the know and trust the sender of such mail.

This publication will always be updated,from time to time as our research and survey keep yielding result with information on the activities of scammers.Therefore, We recommend you to subscribe for our update or bookmark this publication for reference purpose.

You are also encourage to like and share this publication with your networks, it might save them from fallen victim to scammers,also comment where necessary with valuable information that will help reduce the activities of scammers that are killing the business world.

OVERVIEW.

Marketing is the management process responsible for identifying,anticipating and satisfying customer’s requirements profitably.

Marketing evolved as a part of the total manufacturing organization. Its rapid evolution was caused by five general issues that are found in companies at different times.These are..

1. SALES DECLINE:

Imagine a situation in which a manufacturing company suddenly discover that its popular brand name is no longer acceptable, leading to poor sales, The owner would immediately examine his operation and product and attempt to find a solution.

2. SLOW GROWTH:

After a period of continuous progress any company would wonder at any sudden drop in sales and find a solution. This might involve repackaging the old product,reformulating or formulating another product.

3. CHANGING BUYING PATTERN:

Any change in the buying pattern of the consumer directly affects the sales of the company’s products. This would also lead to research and development of new products to meet the new direction and satisfy it.

4. INCREASING COMPETITION:

New companies are daily set up and result in loss of market share by existing companies. This is a challenge which companies need marketing innovations to meet.

5. INCREASING EXPENDITURE:

Changing national economy often increases the cost of doing business. Apart from other systemic changes, all companies would respond by improving on their marketing strategies to spend less and achieve more sales.

From the above, marketing should help the organization reorganize its business opportunities and harness the organization’s energies to enhance the quality of life in society.

Below are the major tasks of marketing.

• Identifying marketing opportunities and its needs.
• Keeping abreast of relevant technological developments.
• Managing products.
• Choosing and motivating the channels of distribution such as retail outlets.
• Advertising and promoting the products.
• Obtaining sale for its products.
• Setting prices and terms of supply.
• planning the marketing activity.

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