The list can go on…… This is just to give you some thoughts what you can you with your talent. Don’t bury your talent.Test your entrepreneurship skills and get the feel of running your very own business. Sound interesting?
Culture can be defined as the concepts, values and tangible items such as tools, buildings and foods that make up a particular society. Culture is passed on from one generation to another and is a kind of blueprint for the tolerable demeanor in a particular society. When products are introduced into one nation from another, recognition is far more likely if there are similarities between the two countries.
The connotations linked with body motions, greetings, colours, numbers, and shapes, sizes and symbols have different connotations in different cultures. For example, the use of colour has different connotations in different cultures as highlighted in a table 1.0 below. In many parts of Europe, black has negative overtones, whereas in the Middle East it has positive connotations.
Colour in association in the UK and Taiwan
Table 1.0
| Colour | UK Association | Taiwan Association |
| Green | Inexpensive, reliable, light and good tasting | Inexpensive, reliable, light and good |
| | old, quiet, traditional, trustworthy. | tasting. |
| | and safe. | Quiet, calm, male and old. |
| | Life, calm, tenderness, health and happiness | Safe, trustworthy, unadventurous and |
| | Environment. Natural, pure and fresh. | stable. |
| | Ireland and Italy to some extend. | Environment, life, tender, pure, fresh, |
| | | natural. |
| | | Ireland, and to some extend UK. |
| | | |
| Red | Expansive, premium, high quality and good | High quality, expensive and good tasting. |
| | tasting. | Warm, female, loud, playful, and |
| | Young, warm, fun, loud, playful and happy. | adventurous. |
| | Dangerous, adventurous, luxurious and | Love, passion, danger and aggression |
| | exciting. | Life, excitement and happiness |
| | Life, love, passion, power and aggression. | US, and to some extent Italy |
| | China, and the US to some extend | |
| | | |
| Blue | Heavy reliable, high quality and expensive. | Heavy, reliable, high quality and expensive |
| | Male, mature, quiet, subdued, calm and | Male, old, quiet, serious |
| | thoughtful | Calm, dignified, trustworthy |
| | Serious, trustworthy, dependable, dignified | Sadness, depression and to some extend |
| | and sad | power |
| | US and UK to a limited extend | |
| | | |
| Black | Expensive, high quality, high tech and | High quality, high tech, premium and |
| | premium products. | expensive |
| | Old, heavy and reliable objects | Old, male, quiet and heavy |
| | Mysterious, luxurious, sophisticated, and | Mysterious, sophisticated and serious |
| | dangerous | Death, sadness, depression, power, fear |
| | Death, dignity, power and aggression | aggression |
| | | Strongly, associated with China |
| | | |
| Yellow | High quality, expensive, reliable, light and | New, expensive, light and good-tasting |
| | good-tasting | Young, warm, loud, playful and adventurous |
| | Pert, fresh and playful | Life, love, happiness and power |
| | Luxury, sophisticated and dangerous | Strong, associated with China |
| | Death, dignity, power and aggression | |
| | | |
| Purple | Expensive, luxurious and good-tasting | High Quality, premium and expensive |
| | Warm, and to some extend female | Warm, female, old and quiet |
| | Sophisticated and mysterious | Love, passion, luxury, sophisticated, and |
| | Death, dignity, passion and power | mystery |
| | | Serious, sadness, dignity, power and |
| | | aggression |
| | | |
| | | |
Source: Marketing Management, Vol. 15, pp.449-462.
Copyright @Westburn Publishers L., 1995.
Brand:Pepsi In UK : Male, muscular, young, sexy and energetic. Wild, fun and sporty. Associated with beach settings. Not very healthy - sugar and caffeine. Challenges to Coca-Cola and the status quo. In Taiwan : Male, muscular, young, energetic, sporty and attractive. Fun, sexy, loud, wild and a little crazy. Accociated with beach, the sun and the Spice Girls. Good tasting and refreshes. Intensely compentitive with regards to Coca-Cola. Perception of Key Brands in the UK and Taiwan
Brand: MarlboroIn UK : Original brand is masculine, American and red. Cool, sexy, wild, adventurous and strong. Rough but with a lot of style. Associated with cowboys, the desert and music. Unhealthy and anti-social - cancer, smoke and smells. Marlboro Lights are less damaging and more popular. Associated with pubs, music, youth and the the colour gold.In Taiwan : Masculine, American and red. Cool, strong, young, adventurous and exciting. Powerful and stylish. Associated with cowboys, the desert and music.Brand: KodakIN UK : Masculine, nature, inteligent, creative and well respected. Warm, friendly and colourful. High quality, and colourful, high technology, and very professionl. Associated with happy times, sunshine, happiness, fun, colourfulness and the colour yellow. Safe, reliable, trustworthy, affordable and popular.In Taiwan : Masculine, intelligent, innovative and cretive. High quality, expensive and professional. Modern, colourful and hugely popular. Associated with technology.
No Capital = No Business
Source: Personal Financing
Every business ventures need capital. While capital is needed throughout the life of a business, the new entrepreneur faces significant difficulties in acquiring capital at start-up. Before seeking outside financing, an entrepreneur should first explore all methods of internal financing, such as using profits, selling unused assets, reducing working capital, obtaining credit from suppliers, and collecting accounts receivables promptly. After all internal sources have been exhausted; the entrepreneur may find it necessary to seek additional funds through external financing. External financing can be in the form of debt or equity. When considering external financing, the entrepreneur needs to consider the length of time, cost, and amount of control of each alternative financial arrangement.
Source: Commercial Bank
Commercial bank loans are the most frequently used source of short-term external debt financing. This source of funding requires collateral, which may be asset-based or may take the formed cash flow financing. In either case, banks tend to be vigilant about lending and cautiously weigh the five Cs: character; capacity; capital; collateral; and condition. Not every entrepreneur will qualify under the bank’s careful scrutiny. When this occurs, an alternative for an entrepreneur is the Small Business Administration Guaranty Loan. The SBA guarantees 80 percent of the loan, allowing banks to lend money to businesses that might otherwise be refused.
Source: Limited Partnership
A special method for raising capital or high-technology firms is a research and development (R & D) limited partnership. A contract is formed between a sponsoring company and a limited partnership. The partnership bears the risk for the research, receiving some tax advantages and sharing in the future profits, including a fee to use the research in developing any future products. The entrepreneur has the advantage of acquiring needed funds for a minimum amount of equity dilution while reducing his or her own risk in the venture. However, setting up and R & D limited partnership is expansive, and the time factor (at least 6 months) may be to long for some ventures. Restrictions placed on the technology as well as the complexities of exiting the partnership need careful evaluation.
Source: Government
Government grants are another alternative accessible to small businesses through the SBIR program. Businesses can apply for grants from 11 agencies. Phase 1 awards carry a stipend of up to $50,000 for six months of initial research. The most promising Phase 1 project may be eligible for Phase 11 support of up to $500,000 for 24 months of research.
Source: Individual Investors
Lastly, the entrepreneur can look for private funding; Individual investors often require an equity position in the company and some degree of control. Look for individual investors that have the same interest in the business. Otherwise it won’t work. Look for individual investors that would help grow the business so you do not have to cover all expanses.
