Archive | September 2015

Entrepreneurs & Business Top 10 Business Celebrity Entrepreneurs

In relation to entrepreneurs & business top 10 business celebrity entrepreneurs the recent rise of entrepreneurs & business has undoubtedly been fuelled by the popularity of TV business programmes like the Dragons Den & Alan Sugar The Apprentice.

These popular programmes have launched the media careers of their programme panel members, fast tracking many of them into the list of top 10 business celebrity entrepreneurs.

Entrepreneurs & Business Top 10 Business Celebrity Entrepreneurs outlines well known global entrepreneurs.

Business enterprises promoted by celebrities have been a topic for discussion for quite some time.

Celebrities have shown their enterprising instincts in many in different ways and many of them have gone beyond endorsing products which had at best previously been a trend.

This discussion about entrepreneurs & business should act as an inspiration not only to aspiring celebrity entrepreneurs, but also to other prospects who intend to use their entrepreneurial skills to become successful entrepreneurs.

The list of top 10 business celebrity entrepreneurs includes the who’s who of celebrities. Many of these celebrities have created thriving enterprises without any formal training in business management and have launched successful and innovative products and services.

Entrepreneurs & Business Top 10 Business Celebrity Entrepreneurs

#1 Steven Spielberg

Steven Spielberg who co-founded Dreamworks tops the list. His movie business has generated millions and millions of dollars at worldwide box offices.

Although he has not graced our TV screens in programmes like the Dragons Den or Alan Sugar The Apprentice Steven Spielberg is recognised globally as a celebrity entrepreneur known to push the boundaries in film production.

He is known to have provided business help, business management, consultancy and business development to other aspiring business entrepreneurs.

Entrepreneurs & Business Top 10 Business Celebrity Entrepreneurs

#2 Hugh Heffner

Hugh Heffner was born into a family of farmers. Heffner launched a magazine which was later named Playboy which has since sold millions of copies.

It’s interesting to know that Heffner started with only $8000 which he raised from investors. Hefner is recognised globally through his Playboy brand which expanded upon the initial magazine through shrewd business management, consultancy and business development to include multiple other revenue generations streams the most famous of which is the Playboy TV channel.

Entrepreneurs & Business Top 10 Business Celebrity Entrepreneurs #3 Sean Combs

Sean Combs launched the clothing brand Sean John clothing which generates a business turnover of over $400 million globally. Sean is recognised as an entrepreneur who founded his empire on a solid foundation of top quality business management and business development.

Entrepreneurs & Business Top 10 Business Celebrity Entrepreneurs

#4 Tyra Banks

Tyra Banks became famous after hosting the famous television show America’s Next Top Model and Tyra Banks Show. She is known to provide business help and support to other aspiring entrepreneurs.

Entrepreneurs & Business Top 10 Business Celebrity Entrepreneurs

#5 Kathy Irelan

Kathy Irelan is recognised globally as a famous model. Her business development initiative of finding solutions for families and busy moms was received well by the market.

Entrepreneurs & Business Top 10 Business Celebrity Entrepreneurs #6 Bill Gates

Irrespective of your geographical location, you are probably aware of the rise of Bill Gates whose business development idea revolutionised the personal computer market.

Gates has become a true global celebrity entrepreneur. It has been widely reported that Gates has provided business help, business management, consultancy and business development to aspiring entrepreneurs and charitable organisations.

Many people believe he should have been the person of choice to front the American version of Alan Sugar the apprentice hosted by Donald Trump.

Entrepreneurs & Business Top 10 Business Celebrity Entrepreneurs

#7 Richard Branson

Richard Branson’s Virgin Empire is one of the world’s most recognised brands which hosts approximately 300 business companies under its business development umbrella.

Branson is also well documented for his desire to give something back and as such many aspiring business entrepreneurs have benefitted from his business help, business management, consultancy and business development.

Entrepreneurs & Business Top 10 Business Celebrity Entrepreneurs

#8 Steve Jobs

Steve Jobs created a business information technology revolution by launching Apple computers with the first graphical user interface of its kind.

Although the Apple brand struggled and lost its way at times, through laser focussed business management, consultancy and business development it has resurfaced as one of the world’s most trusted business brands.

Entrepreneurs & Business Top 10 Business Celebrity Entrepreneurs

#9 Oprah Winfrey

Oprah Winfrey is well known for her television shows and her net worth is estimated to be around $2 billion.

Entrepreneurs & Business Top 10 Business Celebrity Entrepreneurs

#10 Donald Trump

Donald Trump is admired the world over by aspiring business entrepreneurs. His glorious rise to fame as the world’s best known real estate owner was brought to the forefront of the global media after the crash of International real estate.

Trump owed the banks so much money they felt they couldn’t close him down. Deserted by the business fraternity many of whom he had helped and provided financial and business support to he resurfaced even stronger.

To audiences worldwide he is recognised as the main focus of the USA version of Alan Sugar the apprentice TV programme.

Many business people will hold a different opinion on which order the above top 10 business celebrity entrepreneurs should feature. My aim was not to list them in any order, rather just to list them together as the driving force of the top 10 business celebrity entrepreneurs.

What’s interesting is that although most of the above entrepreneurs started with next to nothing, not many of these celebrities availed business consultancy services from a family business consultant. They focussed on their vision and had a detailed action plan which was followed with the right business development strategies.

However as their business empires have grown every one of the above celebrity business entrepreneurs are known to employ the very best business development consultants in the marketplace.

The International Business Guru provides business help to every budding entrepreneur and says entrepreneurs should strive hard to create value for their customers and stake holders.

It might further surprise UK readers that none of the Dragons Den judges appeared in this list.

Limitations Of Management Accounting

For the purpose of understanding the exact nature and importance of management accounting, it is indispensable to understand the limitations under which it has to perform the functions and the following are the important limitations when it comes to management accounting:

a)Dependence on historical data: Normally the data provided by the financial accounting and cost accounting on the basis of decision making and the accuracy of decisions arrived at on the basis of such data depends on the accuracy of data itself. Thus the success of management accounting is governed by the efficiency and accuracy with which the financial and cost records are maintained and established in an organization.

b)Lack of desired skill: It has been generally observed that the management accountant or any other officer dealing with management accounting tools for decision making purposes lack the necessary skill, acumen and experience on account of which the high degree of managerial efficiency cannot be expected. A cadre of professional management accountant has to be developed who could better look after the management accounting processes in large sized public companies.

c)Scope for subjectivity: Even though management accounting attempts to replace intuition by objectivity and scientific reasoning, yet it is not possible to do away with subjectivity as the personnel who are engaged in decision making are in a position to utilize the non quantitative information which can provide a lot of scope for subjectivity in decision making.

d)Management indifference: Sometimes, the indifference of management limits the use of management accounting and many managers do not like that there exists any formal system of accounting for the purpose of guiding them in the decision making process.

e)Costly affair: The installation of management accounting concept in any organization is found to be a costly affair, as its installation requires heavy investment in terms of physical infrastructure and trained man power. It is quite unsuitable for small scale business enterprises.

f)Imperfect tool: Management accounting is a growing subject. The tools and techniques employed are not found to be fool proof. It is found that two management accountants while facing the similar problem draw different and sometimes exactly opposite conclusions from the available same set of information.

g)No substitute for management: Management accounting is a means to an end and the end being the efficient business operations for achievements of various business objectives. Management accounting cannot replace the management as it is simply a tool in the hands of the management and the ultimate success in business always depends upon the will and dedication of the management.

What’s the difference between CAT, MAT & CMAT

With higher education becoming exceptionally competitive in India these days, higher education boards and institutions have opted for a more stringent policy towards college entrance examinations. Management studies have bee the latest sensation of the generation, with millions of students applying for management entrance examinations every year, with an aspiration of getting admissions to the top management colleges and B-schools in India. However, there often occur certain misunderstandings regarding the most prestigious management entrance examinations in India. As such, it is important to understand what the difference is between CAT 2012, CMAT 2012, and MAT 2012.

CAT 2012, also known as Common Admission Test, is one of the most prestigious, all-India level management entrance examinations, conducted by Indian Institutes of Management. Based on the CAT percentile, the successful candidates are eligible to appear for the next level of selection procedure, which includes Essay, Group Discussion and Personal Interview. The candidates, who become successful in all the steps of selection procedures, are eligible to get admission in nay of the top 5 IIMs. From 2009 onwards, CAT has been conducted online as a Computer Based Test, with a total of 60 multiple choice questions to be attempted in time duration of 2 hours and 15 minutes, exclusive of a 15 minutes tutorial. The core sections of CAT examination include Logical Reasoning, Data Interpretation, Quantitative Aptitude, and Verbal Ability. .

CMAT 2012 is also a national level management entrance examination, conducted by All India Council for Technical Education, with the aim of selecting the most eligible students for admission in 4,000 colleges offering a degree in MBA, and 500 colleges offering postgraduate diploma in management program. The eligibility criterion for CMAT is minimum 50% in graduation. Final year students of graduate courses can also apply. CMAT consist of total 100 multiple choice questions, with total marks of 400 and time duration of 180 minutes approx. There are four sections, including logical reasoning, quantitative techniques and data interpretation, general awareness, and language comprehension.

MAT 2012 or Management Aptitude Test is conducted every year by All India Management Association, and is approved by Ministry of HRD as a national entrance test. The examination pattern and syllabus for MAT is almost similar to CAT and CMAT.

All management entrance tests are vital, and it is imperative that you prepare hard for CAT 2012, MAT 2012, and CMAT 2012 in the best possible manner to earn a competitive edge over others.