Entrepreneurship and Business Management (I) Essay

Entrepreneurship and Business Management (I) - Essay Example The SME in Singapore is supported largely by the Government but it fails to get the financial support that would have helped it scale new heights. Capital is always shy to support the new entrants especially that are small in size. The Singapore SME has made up for this deficiency by way of its entrepreneurial skills and abilities and has entered the International arena seeking resources it could not get at home. They have realized their potential and will be doing better in the future too. Singapore presents a paradox. It is a one nation state that has enormous prosperity but still ranks among the developing nations of East Asia. It is devoid of all natural resources, dependant on imports and yet has a high GDP and an astonishing per capita income. It has only two resource; human capital that has been exploited to the hilt and has catapulted it to its present eminent position. Its labour is qualified and with political stability the system is successful. The second is the port of Singapore; it is Asias largest harbour and is used as a trading hub by numerous Asian countries. Singapore has no agriculture and it relies on four major industrial/trading activities; electronics (60% of non petroleum exports are electronic products), petrochemicals (20% of industrial production), Information Technology (IT) and logistics. Biotechnologies and pharmaceutical industry are becoming prominent as Greenfield areas. The country also has a financial sector that is world class. Small and Medium Enterprises (SME) play a major role in any economy. They also employ a high figure of 50-60% of the labour force of the country (Luetkenhorst 2004). This fact contributes greatly to their support of the general economy in providing livelihood to a vast number of the population, even in countries like Singapore. Here they sustain a majority of the working population as well as provide sustained assistance

Buddhist Economics Assignment Example | Topics and Well Written Essays - 250 words

Buddhist Economics - Assignment Example In this case, it is ideal to reduce human labour or get rid of it completely. Modern economist relies on the concept of mechanization as a method of improving the economy. Buddhist economists however agree with this analogy but in a different point of view. In their point of view, labour is divided into two forms. The first form of labour involves human skills and power. The second form of labour involves the use of machines as mechanical slave. Buddhist economists argue that human labour is irreplaceable labour done out of free will is perfect compared to machinery labour (Schumacher, 2). They also argue that labour is like human nourishment thus it is hard for people to exist comfortably without engaging in labour activities. Buddhist also differs with the economic concept of materialists. Materialists are mainly interested in goods as Buddhists are mostly interested in liberation. The key concept in Buddhist economics is non-violence and simplicity. While modern economists measure ‘living standards’ by the amount of human consumption in the sense that a person who consumes more is better than that who consumes less, Buddhist consider this aspect to be irrational (Schumacher, 4). According to Buddhists, this concept renders human well-being as they consider minimum consumption as a way of maximizing human well-being. The concept of low consumption minimizes the wastage of materials as the excessive material can be conserved and utilized to make more goods thus enhancing the economy. Buddhist economists attribute the economy to conservation practices through proper utility of goods. For instance, non perishable resources should not be used if they cannot be renewed. Buddhist economics is high ly recommended in the modern society as it focuses of finding the correct path to development (Schumacher,