Starting and Developing a New Venture Essay Example | Topics and Well Written Essays - 2000 words - 1

Starting and Developing a New Venture - Essay Example In the case of Haji he started Easy jet airliners after leaving Stelmar Tankers, his own shipping company by persuading Lucas to lend him ?5 million. He started Easy jet a low cost budget airline using two rented 737s and ?29 one-way fares to Glasgow. By starting Easy jet Haji was not bowing to the pressures of risk but took an imperative measure even though he had been charged earlier with counts of poor maintenance of his vessels and manslaughter. Moreover he started Easy jet by borrowing money. It is a known fact that borrowed money attracts interest and the principal money has to be paid and therefore it becomes, quite impossible to get promising returns in the first years of business. In his autobiography Richard Branson reckons that his passion in doing business is motivated by setting huge goals that are apparently unachievable, and staying focused to rise above them. This shows that Branson was aware of the risks involved in a huge venture when he set up Virgin Atlantics. Bes ides in 1993, Branson took the greatest risk by venturing into the railway business. This project was very costly and most people though he would not make it. It goes without taking that Branson and Haji took a partial path when it came to risks and only took the initiative of such ventures when they deemed them worthwhile in the long run. LOCUS OF CONTROL The locus of control is the power in the principle that one can formulate and implement things. Most entrepreneurs have a high locus but in most cases they are poor in delegating duties. They are upbeat when it comes to venturing into business. They tend to be more practical and positive about their business ventures. In 1993, Branson took what most people thought was a very risky:... Curiosity and creativity is the quintessence of entrepreneurism. New products, new solutions and new ways are the core of creativity and in general entrepreneurism. It is about willing to think of all possibilities and opening one’s mind to creative things through being inquisitive of what is going on in the globe and quite often generating a gimmick of stuff that suggests one’s ability to create new products that other people are afraid of thinking. Branson has been termed as one of the new generation of the creative world. He took products that were already in existence and made them look original. He has revolutionized the airline business by integrating it with other business ventures like the Virgin Fuels and Space tourism. Virgin Fuels was designed to respond to global warming and exploit the insistence spikes in fuel expenditures by offering a revolutionary, less costly fuel for machines and, in the near future, aircraft fuel. Branson stated that he was formerly a global skeptic and his decision was influenced by Al Gore.

Ethical Issues Essay Example | Topics and Well Written Essays - 1500 words

Ethical Issues - Essay Example Society of Professional Journalists 2). With each of these, there are more particular codes that need to be followed by journalists. Thus, violations of ethics and guidelines led to various ethical issues that journalism profession is facing today. This paper aims to discuss two ethical issues in journalism, which include bribery and extortion. Bribery and Extortion According to the Center for International Media and Assistance (CIMA), bribery and extortion are considered as the most crucial issue in journalism (Nyaira 300). Bribery means the act of accepting or offering some benefits either cash or kind to a certain employee or public servant. In journalism, it is called envelopmental journalism or accepting bribes in exchange for favorable media coverage. On the other hand, extortion is related to bribery, but the only difference is that extortion is the act of obtaining something like money by force or blackmail (Shava 4). Examples of Bribery An editor of a famous newspaper public ation accepted money from a government official who committed corruption. The money serves a bribe instead of exposing the official’s wrongdoing; the editor wrote some accomplishments and projects done by the official to cover corruption issue. In this case the editor is not fair, honest, and accurate. Most of all, the editor did not act independently, which is a violation of ethics. ... Examples of Extortion According to a report, Zimbabwe journalists already disregard ethics since their government already controls what news to write and how to write them. They are forced to do so since their lives are threatened. Politicians only speak to those media outlets they support (Shava). As a consequence, journalists no longer comply with principles of accuracy, fairness, and honesty in writing news stories since they are writing articles based on what is being instructed. Conclusion Ethics is very important in every profession. Journalism as one of the noble careers also has set of ethical principles which need to followed. However, not all journalists sincerely follow the principles of accuracy, fairness, and honesty as it affected by several reasons. Bribery and extortion have become the most crucial ethical issues in journalism. Journalists voluntarily accept bribes in exchange for favorable media, which is called bribery and others like in Zimbabwe, are forced to do s o since they are threatened by politicians. Ethical Issues in Advertising Advertising refers â€Å"to any paid form of personal or non-personal presentation of promotional ideas, products or services by the use of media like TV, radio, magazines, newspapers etc by an identified person† (Kaptan 8). According to Yeshin, advertising is essential because it helps the people to select a particular product. Since it has a great impact on consumer behaviour, advertising like other fields also has a set of ethical standards, which need to be followed. Businesses need to be honest, fair, and straightforward in advertising products or services (American Advertising Federation 4). Violations of these will lead people to wrong direction. Nevertheless, not all companies