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MGT602 Assessment Answers

MGT602 Assignment Answers

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MGT602 Task Answers

This course module on MGT602 also explains the perception that starting a new company is desirable results from an individual’s culture, subculture, family, teachers and pees. Thus, this formal education and previous business experience give a potential entrepreneur the skills needed to form and manage a new enterprise. Although educational systems are important in providing the needed business knowledge, individual will tend to be more successful in forming in fields in which they have worked. The government also contributes by providing the infrastructure to help a new venture.

Hence, the course module on MGT602 would benefit students in several ways and would also allow them to place the entire knowledge and skills together and keep the overall resources of the organization intact. This learning would also enable the students in identifying their desire of forming a new venture and take encouragement from the surrounding world. Students will have to encounter and experience several assessments that would also act beneficial and help them grow and develop their respective thoughts on business entrepreneurship.

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Unit Details:

Location: Laureate International Universities, United States

Study Level: Post Graduate and Undergraduate

Course Unit: MGT602

Brief of Assessment:

Students pursuing this course on MGT602 would also identify the cause and advantages of making the most out of travelling for work and this would enable the students in staying encouraged and inspired throughout the course learning. Students will also made to understand that business travel can also feel close to vacation as majority of the times, when an individual heads off to a new place, all the expenses are paid. Hence, travelling and planning strategically could help the individuals in exploring new ideas and thoughts and get more out for their work trips than any regular business deal.

Therefore, it is imperative for individuals to book their travels strategically. Students pursuing this course unit on MGT602 would be taught how plan are made strategically so that they do not miss out the fun and can make more out of their travelling during work. It is imperative for the individuals to look for business development opportunities in the place they would like to travel. This would boost their concepts of having a perfect stay and keep a regular eye on the conferences, seminars, workshops and other continuing educational events for professionals that are relevant to their respect jobs and learning.

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The course unit on MGT602 also allows students to identify the overall entrepreneurial process which in turn incorporates finding, evaluating, and developing an opportunity by overcoming the strong forces that resist the creation of something new. Hence, students would be taught that majority of the good business opportunities outcome from an entrepreneur being alert to possibilities. Some sources are often fruitful, involving consumers and business associates. Channel members of the distribution system-retailers, wholesalers or manufacturer’s reps-are also helpful. Technically oriented students are usually responsible for identifying business opportunities when working on other projects.

Hence, it is essential that each opportunity must be carefully screened and evaluated. Thus, this is the most critical element of the entrepreneurial process. Students are also made to understand that the higher Emphasis is on collecting huge amounts of information as the basis for a rational decision. Therefore, Risky decisions are often postponed until hard facts are gathered or a consultant is hired. Often there are so many approvals required that no individual feels personally responsible for the project.

All these details would be kept in mind by the students while joining organization and would help them in using their full potential to deliver effective and better results for the organization and for themselves as individuals. The assessment tasks within this unit course would be designed to encourage and extend the knowledge of the students in accordance with the learning outcomes anticipated along with their thought performance and the ability of the students to meet organizational needs.

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Weightage of the MGT602 Course Code in the Semester:

This course unit on MGT602 would help and assist students in describing the knowledge and skills that is needed for establishing the standards for the identification of history and introduction to entrepreneurship. This course unit would also allow students to find better and effective routes to entrepreneurship through an existing business or while joining a family business as a whole. Students would also be able to get a better exposure to the market environment and develop their ideas of business more thoughtfully. As a result, students can easily determine the marketing as well as legal aspects for an entrepreneurial venture and accordingly assist towards the growth of firms and globalization as a whole.

After the successful completion of this unit course on MGT602, students would be able to introduce the concept of entrepreneurship and its historical development, will also be able to explain the decision making process involved in entrepreneurship. In addition to this, the students will also be able to identify and discuss the ethics and racial responsibility of entrepreneurs and will be able to explain the role of entrepreneurship in economic development.

The course module on MGT602 also gives a brief idea about the term entrepreneur and explains its role in developing any business or venture thoughtfully. Hence, the course module on MGT602 also explains the entire concept of entrepreneurship from a personal perspective has been explored in this century. This exploration is reflected in the following three definitions of an entrepreneur: In almost all definitions of entrepreneurship, there is agreement that we are talking about a kind of behavior that includes:

1. Initiative taking

2. The organizing and reorganizing or social/economic mechanisms to turn resources and situations to practical account.

3. The acceptance of risk or failure.

All these information could be beneficial for the students while pursuing this course unit on MGT602 and this would enable the students in identifying as well as financing the nature of the industries and ventures. This course module on MGT602 would also help students in enhancing their overall ability of innovating that differentiate the human beings from other creatures and that could be observed and identified throughput the entire history as a whole.

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