Responseto 8q1 dp
For-profitventures are aimed at maximum yields in form of profits, thus thereturns are as important as the core objective for venturing into theentrepreneurial entity. The continuity of a business is pegged on theextent to which it is able to achieve its set objectives. Return oninvestments is one of such parameters, and which measures the profitearned from an investment(Coetho & Vilares, 2010).This measurement considers only two values the total value of theinvestment in comparison with the gains acquired from the investment.
However,when the parameter is used in isolation, as quite a number of factorsare left out and therefore, the judgement made may not be conclusive. The social return on investment is at most of the times not includedin the financial records and accounts as it gives the social value(Millar & Hall, 2012).Taking a critical look into the social returns, customer satisfactionis critical(Haddad, 2011).The success of an entrepreneurial venture should be looked at from along—term angle and the implications. Customer satisfaction isinstrumental in ensuring client loyalty thus continued purchases anda promised continued profitability.
Responseto 8q2 gh
Thecourse has exhaustively covered the issue of innovation. As a matterof facts, innovation is one of the key aspects to career growth anddevelopment(Abele & Spurk, 2009).Innovation is not a one-time event but rather a process and by theworld of job being quite dynamic and full of uncertainties,creativity must be at the core of career development(Strumsky, Lobo, & Tainter, 2010).An innovative approach to leadership and leadership for innovationare two key aspects of career growth. In the former, one creates aniche by thinking and acting differently while in the latter, one isable to create a good organisational climate suitable for innovation(Frankelius, 2009).Unlike in business thinking where one relies on past experience andresearch to look for a right answer amongst wrong answers, aninnovative person is able to get a way to the desired goal throughcreativity. It helps one to be open to possibilities and know how togo about a problem to reach the desired goal.
Abele, A. E., & Spurk, D. (2009). The Longitudinal Impact OfSelf-Efficacy and Career Goals On Objective And Subjective CareerSuccess. JurnalOf Vocational Behaviour,53-62.
Coetho,P. S., & Vilares, M. J. (2010). Measuring The Return of QualityInvestments. TotalQuality Management,21-42.
Frankelius,P. (2009). Questioning Two Myths In Innovation Literature. JournalOf High Technology Management Research, 20(1),40-51.
Haddad,R. (2011). From ROI to VOI: Organizations are Failing To Tie LearningTo Business Business Impact. ProjectManagement Today,22-25.
Millar,R., & Hall, K. (2012). Social Return On Investment (SROI) andPerformance Measurement. PublicManagement Review,1-12.
Strumsky,D., Lobo, J., & Tainter, J. A. (2010). Complexity And TheProductivity Of Innovation. SystemsResearch And Behavioral Science, 29(5),496.