Category Archives: Business

True Entrepreneur Should be Creative

Every entrepreneur is obliged to the French language. The word entrepreneur derived form the French language that simply means a person who does a business activity. There are other dimensions to this word that has wider perspectives. The important aspect in an entrepreneur is the leadership quality. Managerial skills combined with leadership quality in conducting business or commercial activity involving risk factor is termed as entrepreneurship and the person who involved is termed as entrepreneur. The Irish French Economist Richard Cantillon defined the term as it denotes a person who involved in the activity of buying certain goods for a price and sells it for an uncertain price that includes the factor of uncertainty. The term entrepreneur was first published in the French Dictionary “Dictionnaire Universel de Commerce” in the year 1723.

The studies conducted in the psychological aspects of an entrepreneur suggest that strong personality trait is the most important factor in an entrepreneur. Managerial skills in management ability in crisis, team building quality and leadership are the most important factors that constitute an entrepreneur. These qualities in an entrepreneur are suggested by Robert B. Reich after conducting long term research in the attributes that create an entrepreneur. The attributes in an entrepreneur is the results of several factors. Social and economic factor plays an important role in constructing an entrepreneur. Another interesting factor regarding an entrepreneur is the gender difference. Even though there are disputes regarding gender inequality certain factors relating to male and female entrepreneurs suggest that, female entrepreneurs and male entrepreneur share similarities in the management capability and leadership. In many developed nations female entrepreneurs enter into the field of entrepreneurship with the opportunity driven factors rather than necessity oriented factors. The male entrepreneurs share the space with necessity driven factors and possess extreme negotiating skills and consensus forming abilities more than their female counter parts. The similar trait attributed to both male and female entrepreneurs are the innovative thoughts in introducing new ideas and technologies. A true entrepreneur has to be a creative person in all aspects to introduce new or innovative ideas. There is also n exaggerated aspect about entrepreneurs that they are unusual individuals. But this aspect gives a negative shade in the attributes in an entrepreneur. The image of unusual individuals always project perspective of heroism in an entrepreneur. Some theorists argue that the qualities in an entrepreneur need to be identified methodically and not by unusual attributes.

Several scholars and theorists had given different definitions about entrepreneurs. In the year 1803 Jean Baptist gave a new aspect to the entrepreneurs stating that they are the persons who generate profit by shifting from a lower economic resources area to higher area that gives maximum productivity and yield. In the year 1934 Schumpeter gave a more clarified definition of an entrepreneur that he is a person who erases the existing products and services and replaces them with new products and services. Among several other definitions these two definitions gives the exact features of an entrepreneur in the olden times. The definitions had also undergone changes in the modern period. The definition given b W.B Gartner is suitable for the entrepreneur in the 21st century. He affirms that an entrepreneur is a, person who started a new business where there was none before.”

In the year 2011Fauchart and Gruber stated that entrepreneurs can be classified in to three main categories. Darwinians, Communitarians and Missionaries. As the classification suggests their perspective differ but the common focus is basically on establishing the activity that give higher profits.

It is evident from various definitions and theories that an entrepreneur is a person with higher level of aptitudes and skills that are the essential requirements in the creation of any commercial activity that has higher risk element.

Currency Trading

Ever since the history of man kind man was always in search of new methods for the betterment of his life. First he invented barter system of exchanging goods. Later he invented money. He invented metallic coins of copper with specific value inscribed on it. After the copper coins he invented gold and he discovered the unlimited value of this yellow metal. Gold coins were the main source of wealth accumulation in olden times. Only royal families and people from affluent families had the privilege to have gold coins. People in the lower strata always used the copper coins.

After the invention of paper it was found that the paper’s value can be evaluated from the value inscribed on it. Soon the paper money was recognized as currency or a legal transactional value was given to the currency. The currency is always made by the government of a country with its official recognition printed on the concerned currency. The denominations or the value of the currency is printed where the people of a country can use this currency for every transaction. During passage of time the currency became mode of official transaction in every country. Each country has a distinct printed form and value. From the official print it was easy for identification of the currency to the country it belonged. Currency became the popular mode of transaction among people for various purposes. Currency is most commonly used for the trade or business purposes other than that currency also became a popular mode of investment. Currency trading is in fact the most popular form of investment of the modern world. The values of different currencies of different countries are exchanged or traded for a standard or uniform value is termed as currency trading.

There are several type of investments are available for quick trading. It is considered that currency trading is the easiest and safest mode in the investment market. The Forex (FX) or the currency market is the largest investment market in the trading world. Currency trading has three basic trading sessions that include European, United States and Asian sessions. The market hours are 24/7 every day. The market sessions will be closed on Friday evening till Sunday evening. The volume of the currency is not stable during the market hours. At times certain currency pairs will have greater business volume during specific business time. The US trading session usually have the great currency volume when there US dollars are paired. The main feature of currency trading is that it is done in pairs unlike the single shares. The single currency that is purchased or traded need to be sold immediately in the Forex market. Unlike purchase of single shares very currency is priced to the fourth decimal point. Then the augmentation of trade is measured in the Pipvalue. The pip is valued as a percentage in a point. A pip is calculated as the smallest value of a percentage. It is the least increment in the percentage of the value of the currency. The only place in the world where the currency trading is done is in Parris.

The frequent currency trading is done on eight currencies. The US dollar, Canadian dollar, Euro, British pound, Swiss Franc, New Zealand Dollar, Australian Dollar and Japanese Yen are the most often traded currency in the Forex market. The investment in the Forex market is increasing day by day as there is more supply and demand. The value of dollar is increasing day by day that promotes the currency trading market. According to the statistics of 2010, the currency trading market reached a 4 trillion dollar turnover that was a major increase after the year 2007 by an increase of 20%.

Unlike the share market the winning strategy is greater in the currency trading that makes it the popular trading of today.

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