Category Archives: Pioneers

Responsibilities of Modern Economists

Economists are financial analysts who study a vast range of economic factors such as demand and supply of consumer goods within a given market, taxation rates as well as salaries and wages of workers. They apply different techniques to research and analyze their data. Government agencies, policymakers and business enterprise rely on their findings to make appropriate decision. Economists will be assigned different responsibilities depending on employer as well as their area of specialty.

An economist will begin his work by conducting research on a given issue and gathering relevant information. The data collected will be analyzed and interpreted using mathematical and statistical techniques. An economist will then organize the results into reports, graphs and charts and used by relevant authorities to solve problem and implement policies. The work of economists will range over several economic factors including health and education that affect the economy of a country. For instance, an economist can study the effects of increasing taxes on alcoholic drinks which lead to decreased traffic-related deaths and transmission of STDs.

Economists are employed by governments to assist in analyzing the general economic status of a country. They research and review price of commodities in the market, employment turnover, forecasted expenditure and salaries of workers. They will share the outcomes with relevant authorities in order to implement certain policies. They assist policymakers understand potential effects of new regulations within a given economy. Also, their expertise is required by government to lay down its budget estimate over a given period.

Economists are employed by private sectors like financial institutions, NGOs, research institutions and global organizations. A business entity will depend on the work of economists to increase its profit by analyzing demand and supply as well as prices of products and services at the market. Financial firms would like to review market trends and effects of interest rates in order to make proper investment strategies based on their targets. Non-profit organizations would rely on the work of economists to study various social factors affecting the society.

Today, there are many renowned economists like Christian Broda. He has worked as a professor at the University of Chicago before shifting his focus to capital investments. He has been analyzing different economic issues relating to international trading and finance and writing various articles on the same. He has presented his results to various institutions like financial firms, universities and other government agencies. In the past, Mr. Broda of chicagobooth has forecasted several economic outcomes that have come to pass.

Economists have different areas of specialty like public finance where they study issues like taxation and welfare initiatives. Global economists analyze international economy like exchange rates and international financial and capital markets.

The Features of a Successful Entrepreneur are a lot like a Boxer…

The term entrepreneur means different things to different people. However, it can simply be defined as a person who creates a new business. 

Usually seen as a business frontrunner and innovator of fresh concepts and business processes, an entrepreneur undertakes the initiative of establishing a venture to take advantage of an opportunity, and decides what, how and what volume of a commodity will be produced. 
An entrepreneur not only supplies risk capital, as a risk taker, he also undertakes the monitoring and controlling of the business operations. He is usually a sole proprietor, a partner or the person with the majority stakes in an incorporated venture. 
Entrepreneurs play an integral role in any economic setup. They possess the skills and ingenuity required to take noble first-hand ideas to the market and make the right decisions that will drive the ideas to economic profitability. The potential profits will be the prize earned from the risks taken. 
One economist – Joseph Alois Schumpeter (1883 – 1950) – observed that entrepreneurs do not necessarily derive their motivation from profit, but rather regard it as standard for measuring success. According to Schumpeter, entrepreneurs bear the following features:
• They highly regard self-reliance
• Entrepreneurs strive for distinction through excellence
• They are highly optimistic
• They always favour challenges of moderate risk – neither too easy, nor disastrous
Generally, entrepreneurs need to have an in-depth understanding of their markets. In this regard, they identify the customer needs and tailor their products in line with market demands. It also essential, that they have viable ideas. 
Marc Sparks is a perfect example of a successful entrepreneur. He is also a venture capitalist and currently resides in Dallas, Texas. Popularly known as the entrepreneurs’ entrepreneur, he has successfully owned and run a chain of businesses.
Entrepreneur Marc Sparks is a renowned business expert who has helped over 60 start-ups rise to becoming huge business successes. He commands significant stakes in tech giants like Cardinal Telecom LLC, Blu Jay Wireless, and even Cobalt Real Estate Services LLC. 
As a Philanthropist, he has substantially invested in the Samaritan Inn – homeless shelter. He finds it highly satisfying to give back to the community. He has also built homes in conjunction with Habitat for Humanity. 

Joseph Bismark is a Pioneering Businessman

 

I read a recently published article on Joseph Bismark’s blog about a man I found quite interesting. I found that man to be a visionary business man who is pioneering a new way of doing business that no one has ever thought of trying. His new method is based on mixing spirituality and business so that a harmony between the two is formed. That man is himself, Joseph Bismark.

Bismark’s story begins when he was an adolescent. When he was young he cast away his life of luxuries and riches so that he could study as a monk in the Philippines. During his time spent studying as a monk Bismark learned much about spirituality and how it applies to all aspects of life. A major thing he learned while studying as a monk was that the values and ideology of spirituality could be combined with business. So upon completing his study Bismark applied what he had learned to the realm of business. Bismark’s profound way of doing business eventually earned him a great amount of success. Even though he had gained so much success he remained grounded. He continued to live a simple and humble life while doing his best to retain his humility.

Bismark openly shares many of the principles he lives by that helped gain him the success that he has. One such principle is to be completely open with your employees. Make sure that they feel that they can trust you and this will lead to better overall morale. Another principle is to have beneficial interactions with your team. The more a leader interacts with their team and gets to know them on a personal level the better a team will work together. Bismark also emphasizes the importance of being dynamic. It is no secret that the business world is constantly changing and Bismark advises against being stuck in your ways as this will surely not lead to success in the realm of business. These principles among the many others Bismark follows give me reason to believe that he is pioneering a new way of doing business.