Venture screening process Essays

Venture screening process Essays Venture screening process Essay Venture screening process Essay The new venture is an enterprise of a business nature in which there is considerable risk of loss as well as chance of gain (Oxford English Dictionary, 1989, Vol. XIX, p. 520). The word venture literally means a risky undertaking, which makes venture capitalists risk-takers. However, like all other types of investors, venture capitalists will only invest if perceived returns are greater than perceived risk. The saying, greater the risk, greater the return holds for venture capital financing provided it is not a speculative deal. Therefore, it is necessary to identify and quantify the probability of risk. The study by MacMillan, Siegel, and Narasimha have been undertaken to determine which criteria are important for evaluate new venture proposals. Some criteria have been point out by the Journal as the common criteria. This article is going to have a review on those criteria provide by MacMillan, Siegel, and Narasimaha and have a critical analysis whether those criteria provided could make the venture proposals successful. Summaries of the journal According to the study, the most important criteria is the quality of the entrepreneur that ultimately determines the funding decision. In the first part of the study, 24 criteria were scaled under 5 catalogs and use a survey method to examine the importance of them. The results of the study have found out that personality and experience, product and market characteristics and financial consideration are the most important criteria for venture capitalists to qualify the proposals. For personality and experience, the most important personality characteristics are evidence of staying power and an ability to handle risk. For product and market characteristics, the most important characteristic appears to be some proprietary protection. Finally for the financial considerations, the key concerns are with high upside potential and high investment liquidity. Then the study has identified 5 out of 10 most commonly rated criteria as essential have to do with the entrepreneurs themselves. By and large venture capitalists will not back ventures unless the entrepreneur is capable of sustained effort, has demonstrated leadership in the past, evaluates and reacts to risk well, has a track record relevant to the venture, and is capable of articulating the venture well. The study has also point out the characteristics of critically flawed proposals is a is important for venture capitalists to qualify the projects. That is , proposals that would be rejected by a significant majority of venture capitalists if they had only two flaws of the previous mentioned five most important criteria. Finally, with a factor analysis, the study allocates the venture capitalists into 3 broad types the Purposeful Risk Managers, the Determined Eclectics and the Parachutists. The Purposeful Risk Managers seeks the entrepreneurs with demonstrated leadership skills and a product and market with characteristics that clearly reduce the risk to manageable levels. The Determined Eclectics appear to deliberately impose an absolute minimum number of restrictions. And the Parachutists willing to support most ventures as long as they feel that they have a high liquidity parachute. The study by MacMillan, Siegel and Narasimha did provide us some common criteria for evaluating new proposals, but there are still some critics on those criteria listed by the author. Critiques of the journal According to the conclusion of the journal, the most important thing to consider for evaluation a new proposal is the quality of the entrepreneur. But in the real world venture capital practices there are some cases which quite match the criteria provide by MacMillan, Siegel and Narasimha and still failed. For example, according to the information provided by the study of MacMillan, Siegel and Subbanarasimha 1987, the investment on a highly familiar with the targeted market and had a well-established relevant track record team could just failed because the lack in capacity for sustained and intense effort. And also, according to the flawed ventures studies in this journal, it was said that if the proposals cannot match at least two of those indicator criteria the venture capitals would give up it. But there do are some example that represents a venture team lacking in terms of all the desirable criteria but only have high product protection and become successful. Finally, we should mention that Research by social judgment theorists suggests that espoused decision-making processes (that this present arguing study fallen in) may be a less than accurate reflection of in use decision-making processes (Shepherd, 1999, p.76). Conclusion The study that carried out by MacMillan, Siegel and Narasimha provide us some common criteria for evaluating new venture proposals. Those criteria are useful tools to indicate the successful of certain venture. Some of those criteria are key finds that still influence the venture capitalists in nowadays. But we should also notice there are numbers of criteria for judging a new proposal and some of those criteria have been marked as important criteria. But in real world practice proposals might be failed just because the lacking of the least important criteria even if they have all the other important criteria. And also, some venture cases may well successful with only one less important criteria (product protection) even they do not have any other desirable criteria mentioned by the study. As venture capital present a risk taking action, it is better to have a careful view on those criteria and chose the most appropriate one to reduce the risk to the lowest point. REFERENCES MacMillan, Zemann, Subbanarasimha, P. N 1987, Journal of Business Venturing Criteria distinguishing successful from unsuccessful ventures in the venture screening process Fred Pries 2001, Distinguishing successful from unsuccessful venture capital investments in technology-based new ventures: How investment decision criteria relate to deal performance, Waterloo, Ontario, Canada Brealey Myers, Principles of corporate finance, McGraw-Hill 2003

How to Make Complaints for ESL Students

How to Make Complaints for ESL Students Politeness is universally appreciated, even when making complaints, no matter what language a person speaks, but in learning English as a Second Language (ESL), some students may struggle with formulas and functions of certain English phrases meant to politely start a conversation involving a complaint. There are a number of formulas used when complaining in English, but its important to remember that a direct complaint or criticism in English can sound rude or aggressive. For most  English speakers, its preferred that others express their dissatisfaction indirectly, and introduce the complaint with an amicable introductory clause such as Im sorry to have to say this but... or excuse me if Im out of line, but... It is important to note, however, that these phrases dont directly translate into Spanish so understanding the basic function of words like sorry go a long way to introducing ESL students to the polite way to go about making complaints in English. How to Start Complaints Amicably In Spanish, one might start a complaint with the phrase lo siento, or Im sorry in English. Similarly, English speakers typically start their complaints with an apology or indirect reference to propriety. This is largely because politeness is a major element of English rhetoric.   Some phrases that English speakers may use to start complaints politely: Im sorry to have to say this but...Im sorry to bother you, but...Maybe you forgot to...I think you might have forgotten to...Excuse me if Im out of line, but...There may have been a misunderstanding about...Dont get me wrong, but I think we should... In each of these phrases, the speaker begins the complaint with an admission of error on the speakers part, relieving some of the assumed tension between speaker and audience by letting the listener know that no one involved is blameless. Whether it be because of  contrasting ideas  or just because a speaker wants to say no nicely, these introductory phrases can be helpful to maintain respectful rhetoric in conversation. Forming a Polite Complaint After ESL students understand the concept of introductory phrases to complaints, the next important element of conversation is keeping the complaint itself polite. Although being  imprecise or vague  does have its benefits when complaining, clarity and good intentions go a lot further in maintaining the cordiality of conversation. Its also important not to come across as attacking while making a complaint, so the complaint itself should start with phrases like I think or I feel to indicate that the speaker isnt accusing the listener of something as much as he or she is starting a conversation about the disagreement. Take, for instance, an employee who is upset at another for not following the company policy while working at a restaurant together, that person might tell the other Excuse me if Im out of line, but I feel like you may have forgotten that closing waiters need to refill the salt shakers before leaving. By introducing the complaint with an apology, the speaker allows the listener to not feel threatened and opens up a conversation about company policy instead of scolding or demanding that person do their job better. Redirecting focus and calling for a solution at the end of a complaint is another good way to address the issue. For instance, one might say Dont get me wrong, but I think it might be better if we focus on this task before doing the one youre working on to a coworker who is not working on the right part of a project.

No Room for Snark

No Room for Snark Unless you are JA Konrath and your brand is snark, dont try to weave it into your writing persona. It will backfire. Someone will label you crass. Many will quit buying your work readers as well as editors. As an editor, pitches come to me in the guise of Sunday clothes and good manners, which is good. We should present our best self. However, the true person arises when I reject a pitch. Well, if this doesnt work, then what does? Just give me a subject and Ill write it if you dont like this. Why doesnt this work? Im most certain it fits your guidelines. Whatever. Screw you or Forget you or Fill-in-the-blank you. Do you discriminate against fill-in-the-blank? You are an elitist b-. While these writers may not have been memorable before, they become memorable after these remarks. It works the reverse as well. I listen at conferences, workshops, and events where names bigger than mine put on shows, shake hands, meet and greet the room and represent themselves to authors as well as each other. There are a few agents I would never pitch because Ive heard them make fun of their clients, the writers around them, even the speakers at the podium. Theres a big name in the publishing industry I heard making fun of someone on a panel for pretending to be an author. Many people forget that shy writers listen harder. You are a professional. Keep it professional. Yes, I know as well as anyone that some days you want to snap back and speak your mind. This newsletter is my outlet, and luckily I have a teeny bit of snark woven into my brand to give me room for release. But on someone elses blog? In an email? In front of people who buy my books, ask me to speak, or want to advertise with me? Never. Why slit my own throat? The publishing world is teeming with authors, writers and others climbing the ladder. Everyone is watching everyone else. What is she doing that works? What is he saying that you can take advantage of? How is she slipping up, and how is he making mistakes? Everyone is trying so hard. When the public is your client, you are on display. There are no soundproof rooms. So paint on that smile. Pull out your best behavior. Make anyone you meet happy to have met you. Why on earth would you ever be snarky to anyone in this business as you are fighting your way to publication?

Museum Visitation Essay Example | Topics and Well Written Essays - 750 words

Museum Visitation - Essay Example It looked mysterious, like a puzzle that needs to be figured out. The first thought about this artwork was figuring out its complexity. There is a huge question mark asking the viewer what is the meaning of this picture. Without looking at the description of the painting or the artists name, it is hard to figure out what it means and represents. After reading the name of Roberto Matta, it dawned on me that this might be surrealism. A few questions crossed my mind while looking at this artwork. I know that Matta was fascinated by Christ’s crucifixion and he loved painting that tragic event in different styles and forms. Immediately, I started looking for the cross and soldiers in this picture. Certain questions that boggled me were; I am a fan of motion and fluidity. Rigidness and mechanical expressions of art always disinterest me. Le Meridien by Sarah Morris is one such piece. Despite the brilliant color play the rigid rectangles and strict computer like boundaries make it seem automaton. Maybe this style is an expression of mechanical elements but it does not make me want to spend time looking at Morris’s work. Upon reading the description of her work, it was revealed that it represents Rio de Janiero’s architecture. The elongated rectangular mosaic-like formation of vibrant colors represent the old building in Rio. I was questioning myself about this painting; The exhibition called In the Sculpture Garden: Jedd Novatt displays artworks depicting minimalism. The purpose is to depict the presence of minimalistic sculpture style making its way into the American public landscape. Its prominent features include the interplay between rigid, lifeless elements such as steel and aluminum and giving them the theatrical animation turning them into eye-catching sculptures. They also display the most efficient use of space and the optimal ratio of mass, volume and weight. I would take Jedd

'Health Inequalities Persist.' Discuss in relation to health and Essay

'Health Inequalities Persist.' Discuss in relation to health and health care - Essay Example In virtually all societies some people are regarded as more important than the others, more worthy of respect or more useful than others either within the society as a whole or in certain situations. This position relative to that of other people in the Group is called ‘status or class’ and may be based on many factors such as wealth, heredity, possessions, sex education, skin colour, job or age. Thus according to Gerard O’Donnell (1994:370), class is defined as: a broad category of people within a society who have similar social and economic status. Although primarily based on economic factors, such as ownership or occupation, class also encompasses attributes such as lifestyles and attitudes. In this context, status is a person’s social position as defined by others and the person with a high status is regarded as more worthy of respect, accorded more esteem and has more prestige within that social group. Usually people who occupy high class positions are generally richer than those who occupy lower classes and they have more wealth through earnings or investment. In this regard, a wealthy person enjoys access to better life chances such as heath care, education and shelter. Research has shown that the notion of class or status in society has a bearing especially on access to health care facilities. This notion was illustrated by a report, Inequalities in Health, sponsored by the Department of Health and Social Security in 1980, commonly referred to as the Black Report. It found a close link between class and life expectance. The report commented: ‘the class gradient can be observed for most causes of death and the lower the person’s social class, the more likely they are to suffer an illness that they have had for a considerable time.’ The report concluded that the lack of improvement, in some cases deterioration of the health experience of the unskilled and semi skilled manual classes throughout the 1960s was

Accounting System Checklists Lab Report Example | Topics and Well Written Essays - 500 words

Accounting System Checklists - Lab Report Example The selection of the best accounting system software requires a lot of proper research and studies in order for the organization to work effectively. There is a lot of misinformation about the best place to gather information about the best accounting software installation system. There are various stages and steps that are usually very important to be followed in installing the right and good accounting software. These steps are very important to both large and small organizations that need proper accounting system (Collins, 2014).Therefore, this paper will provide some of the best steps to take in designing and selecting the right accounting system software in an organization. The paper specifically provides this accounting system software installation steps for the American Society for Prevention of Cruelty to Animals Company. For proper selection of the best software for accounting system it is important that the organization come up with a committee comprising of about six people (ȘtefÄÆ'nescu, 2012). The committee will help in provision of the best evaluation procedure to be used in selecting the new software system. Therefore, the committee should include various individuals who understand the use and procedures of the new software system (Dodaro, 1998). The installation of the software should be under effective budget which include the cost of the software and hardware as well as the cost of its implementation process. The timing system for the evaluation, formulation and implementation of the system should also be provided by the committee (Hodgson, & Ponte, 1991). The organization must consider the various problems that are facing the current accounting system and how such problems can be solved through the installation of new accounting system software (Brandas, Stirbu, & Didraga, 2013). It is important that you allow the value added resellers to

Employment tribunal Essay Example | Topics and Well Written Essays - 500 words

Employment tribunal - Essay Example According to statistics released by the Employment Tribunals Service, the claims accepted by tribunals in 2006 totaled 115,039. This figure showed a great improvement from the previous year when only 86,181 claims had been accepted. Of the claims that were accepted in 2006, 18% of them got a successful full hearing. The rest were withdrawn, settled, disposed of or unsuccessful. The tribunals passed an average award for unfair dismissal cases of 8,679 pounds. For successful discrimination cases, the average award was set at between 5,540 and 9020 pounds. A total of 867 decisions made by Employment tribunals were later appealed, of which only 298 cases were allowed. The rest were either withdrawn or dismissed (Edge, 2008). These statistics clearly indicate that although the tribunals were formed to help employees and employers solve any disputes among themselves in an amicable manner, it has not been an easy task to carry out this duty (Selwyn, 2006). One of the main issues that have b een hampering the effectiveness of the employment Tribunals in the UK is lack of independence. There are normally too many vested interests within the tribunals themselves. It is quite common to find some employers or their lawyers influencing tribunal proceedings so as to get the outcome they want.