Key Factors that Underpin a Successful Entrepreneurial Team Engaged in Essay

Key Factors that Underpin a Successful Entrepreneurial Team Engaged in Setting up a Business - Essay Example He is also responsible to bring innovation in the business from time to time. All the entrepreneurial activities have to be planned in an effective way for succeeding in the venture. The business plans can range from plans for operation to strategic planning and financial planning. All these plans must be integrated in such a way so that the enterprise could achieve the desired objectives. The various departments should be linked with each other so that a proper coordination can be achieved among them. Nowadays enterprise is not only established by one person but a group of people who have common interest and work for the business. They work as a team in pursuit of the organisational goal. They are the entrepreneurial team. For the success of such type of entrepreneurial teams, every team member must have the qualities of the entrepreneur. They must have the vision, the capacity to arrange the resources and must act as per the plan. Apart from the basic entrepreneurial skills, there are other factors which lead the entrepreneurial teams to success. The success of an entrepreneur or the entrepreneurial team depends upon the success of the enterprise. ... , analysing the competition in the chosen field, analysing the operational work, analysing the human resource requirement, checking the financial viability of the business etc. This is a primary and very important step of setting up a business. Once the business plan is ready the next step is to analyse and take the assistance required for stating the business. The third step is to choose the location of the business. This step requires the analysis of the format of the business and the competitors. The location should be such which could be easily accessible to the customers and the suppli8ers, close to the competitors etc. The next step is to finance the business. This includes arranging the fund for the operations of the venture. Once the finance for the venture is arranged, the next step is to determine the structure of the business. In this step the suitable legal structure is determined according to the government rules and taxation policies and also the viability of the busine ss. The next step is to get the business registered as per the rules and regulations of the state. Once the business is registered, the next step is to register the organisation for the local taxes and the other taxes. After all types of registrations is done one applies for the required licences and permits for operating the business. This is a legal requirement without which an enterprise cannot function in the market. The last step for setting up a new business is to hire the required and efficient human resource needed for the enterprise (US Small Business Administration, No Date). Entrepreneurial process In the previous section the basic steps required for setting up a new business has been discussed. The entrepreneurial process is also to an extent similar to those steps. The

Goldman Sachs Fraud Case Research Paper Example | Topics and Well Written Essays - 2000 words

Goldman Sachs Fraud Case - Research Paper Example Goldman Sachs Fraud Case Introduction Goldman Sachs defrauded investors by failing to reveal the apparent conflict of interest on mortgage investment it floated as the housing market became sour. The charges that were brought forward by the Securities Exchange Commission against Goldman Sachs argued for unlawful action and fraud in the trading of toxic subprime mortgage derivative securities. Nevertheless, Goldman Sachs affirmed that they were merely following normal business practices and had not committed any wrong. The Goldman Sachs fraud case elicited critical issues centering on the inadequacy of the investment banking practices, and raised the question whether it is a case of deceptive or unethical behavior (Craig & Scannell, 2010). The three-month legal ordeal erased close to $20billion of the firm’s stock-market value. A lively public discussion that followed the charge of Goldman Sachs by SEC centered on whether Goldman Sachs, broadly viewed as an embodiment of bubble -era greed, was also a lawbreaker. Questions emanated on whether Goldman bankers warranted condemnation for deliberately exploiting the naivety of investors to gain from the trading of debt instruments that were bets on a market Goldman Sachs was doomed to collapse (Whalen & Bhala, 2011). Although the transaction entailed in the SEC’s lawsuit can be regarded as small by Goldman Sachs’ standards, its arrangement alludes to weighty questions regarding the fault of the banks in driving up a market within mortgage-derived securities that lingered practically inclined to self-destruction (Buell, 2011). The SEC was asking whether Goldman Sachs gained from both sides in a way that contravened their fiduciary obligation to their customers. The SEC claimed that investors essentially lost over $1billion dollars and that Paulson’s short option debt instrument on the credit instrument derived a profit of more than $1billion (Jones, 2010). Email traffic pointed out that Tour re plus others were aware of the subprime mishap as early as January 2007 before the crisis became full blown. The SEC sought a restriction, disgorgement of profits, and sanctions with regard to interest and civil monetary penalties (Craig & Scannell, 2010). In addition to these charges, criminal prosecutors were exploring whether Goldman Sachs or its employees committed securities fraud with regard to the firm’s mortgage trading. #1 The Fraud Goldman’s case entailed four forms of securities that all played some roles amid the 2008 financial downturn: first, the residential mortgage-backed securities (RMBS) embodying a form of security derived from pooling of mortgages on residential real-estate into bonds; a credit-default swap (CDS) representing a form of insurance policy; a collateralized debt obligation (CDO) representing a debt security collateralized by debt obligation; and, synthetic CDO’s (SCDOs) equivalent to ordinary to ordinary CDOs excluding that inv estors own CDOs on real securities rather than the real securities themselves. The Securities and Exchange Commission (SEC) filed a civil fraud charge against Goldman Sachs & Co, as well its vice presidents for fraud for misrepresenting information meant for investors by misstating key facts regarding a financial product connected to subprime mortgages at a moment when the housing market within the United States started to crumble and lose value (Buell, 2011).