The different types of for-profit business organizations are the sole trader, partnership, public corporation, and private corporation. Non-profit organizations include government organizations or NGOs, which include advocacy NGO, operational NGO, and charities.

This topic relates to the SOI, understand that entrepreneurs must innovate in order to remain competitive over time (change), as it talks about different organizations that people would work at, but all of them have the same thing in common, and it is to innovate, to remain competitive. This would lead to more customers buying their products, and their business making progress and improving.

The global context, orientation in time and space, also relates to this topic, similar to the SOI, the types of businesses might be different, but they can all relate to one another. Most of them would eventually have their business growing, receiving opportunities, and expanding their businesses.

This topic helps me understand the SOI, understand that entrepreneurs must innovate in order to remain competitive over time (change), as it is relevant and related to how entrepreneurs would need to innovate an invention overtime, to fit the customer’s needs and wants. This made me understand more about how entrepreneurs can keep their business successful and prevent it from failing.

The global context, orientation in time and space, connects to this topic because it shows how the businesses would evolve by innovation, and receiving new opportunities that could improve and expand their company’s business. Changing perspectives and how the innovators see the world could help create better products for individuals from around the world.

In this topic, we did an assignment on creating Instagram posts of well-known entrepreneurs, to show their achievements and what they have been doing to stay successful. It helps me understand the SOI, ‘understand that entrepreneurs must innovate in order to remain competitive over time (change)’ better as it teaches me more about how entrepreneurs stay relevant in businesses, which is by improving products that fits the customers needs and wants. By learning this, I would understand more about what customers from around the world wants, how to improve a product, and what entrepreneurs do to stay competitive over time.

The global context, orientation in time and space, is relevant and fits in this topic because the entrepreneurs would need to view different perspectives to get an idea of how and what they can improve on in their products. This would make customers from around the world more likely to buy their products as it could be useful for themselves. The entrepreneurs would always respond to different opportunities that can help expand their business to keep it going and improving, this is a way of how businesses can evolve over time.