Why do interns often work for no money? What is their motivation? Discuss. 8. Discuss the most common problems that you face while running a new business project. 9. Do you think it is always necessary to contribute something to society in business? Why/why not?
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7. Interns often work for no money primarily to gain practical experience and industry exposure in their desired field. Their main motivations include:
Skill development*: Acquiring hands-on skills that are difficult to learn in an academic setting.
Networking*: Building connections with professionals who can offer mentorship or future job opportunities.
Resume enhancement*: Strengthening their CV with real-world work experience, making them more competitive for paid positions.
Career exploration*: Testing out a specific career path to see if it aligns with their interests and goals before committing to it.
Potential job offer*: Hoping the internship will lead to a full-time paid position within the company.
8. When running a new business project, common problems encountered include:
Securing adequate funding*: Many new projects struggle with insufficient capital, making it difficult to cover operational costs, marketing, and development.
Intense market competition*: Differentiating the new project from existing competitors and capturing market share can be challenging.
Talent acquisition and retention*: Finding and keeping skilled employees who are passionate about the new venture is crucial but often difficult.
Effective marketing and sales*: Reaching the target audience and converting them into paying customers requires significant effort and a well-executed strategy.
Operational inefficiencies*: Establishing smooth workflows, managing supply chains, and ensuring quality control can present unexpected hurdles.
9. Yes, it is generally necessary for businesses to contribute something to society. While the primary goal of a business is often profit, a broader perspective recognizes that businesses operate within a societal framework and rely on its resources and stability.
Ethical responsibility*: Businesses have a moral obligation to act responsibly towards their employees, customers, communities, and the environment.
Long-term sustainability*: Companies that contribute positively to society often build stronger reputations, foster customer loyalty, and attract better talent, leading to more sustainable success.
Social license to operate*: Public perception and trust are vital; businesses that ignore societal contributions risk backlash, regulatory issues, and a loss of their "social license" to operate.
Innovation and growth*: Addressing societal needs can also open up new markets and drive innovation, creating new opportunities for the business itself.