Submitted by: Hussein Mustafe Hussein

Course Name: Principles of management

FacuIty of Economics

1. WHAT ARE THREE ESSENTIAL CHARECTERISTICS FOR DEVELOPING
AN ENTREPRENUERIAL SPIRIT IN LARGER CORPORATION?
O Work independentIy
ne of the key traits that differentiate an entrepreneur from a person
working in a traditional job is an affinity for working independently. Many
people working a "9 to 5" need the structure a traditional employer
provides. Conversely, an entrepreneur will feel as though he or she is
suffocating in this type of environment.

An entrepreneur must be able to work independently and think
independently. He doesn't need to be told what to do. He doesn't need to
be told when to do it. He possesses the self-discipline and independence to
reach these conclusions on his own and act on them.
O ake mistakes
hen it comes to starting a successful business, there's no surefire playbook
that contains the winning game plan.
n the other hand, there are about as many mistakes to be made as there are
entrepreneurs to make them.
The most common mistakes that entrepreneurs make are going it alone,
asking too many people for advice, spending too much time on product
development, not enough on sales, targeting too small a market, entering a
market with no distribution partner, overpaying for customers, raising too little
capital, raising too much capital, not having a business plan, over-thinking
your business plan.
O Learn from the process
As the learning is acquiring new or modifying existing knowledge,
behaviors, skills, values, or preferences, so learning about the process
means to acquire new knowledge and experience from the process of our
business levels and procedure. This is very important characteristics for
developing entrepreneurial spirit in large corporations. Entrepreneur must
learn from the process of business in order to successfully manage and
create a business.

. EXPLAIN HOW THE COPOSITION OF THE ANAGERIAL WORK
FORCE IS CHANGING IN TERS OF GENDER AND RACE?
hen an organization has people of different ethnicities and a greater
proportion of women than the industry average, naturally the question
arises as to how to reconcile the differences between these employees
without causing too much friction in everyday interactions.
Managing diversity is important as otherwise the performance of the
organization takes a hit and worse, there can be possible lawsuits and
legal tangles from disaffected employees who feel
aggrieved because of instances of discrimination and harassment based on
their ethnicity or gender.
Issues in anaging Diversity
ne of the central issues in managing diversity is to do with the majority
and the minority perspective. Usually, it is the case in organizations that
there is a predominant majority of a particular race or ethnicity and various
others in minority groups. And considering that the most pressing issue in
managing diversity arises out of the treatment of women, we get a sense of
the issues of race and gender as the primary drivers in managing diversity.
n recent times, these issues have come to the forefront of the debate
because of greater awareness among the minority groups about their rights
as well as stricter enforcement of laws and regulations that govern
workplace behavior.
Hence, it is in the interest of the management of any firm to sensitize their
workforce towards race and gender issues and ensure that the workplace
is free of discrimination against minority groups as well as women.