An entrepreneur is the person who brings distinctive parts of the business sector in coordination with one another (kirzner 1982). Wicked problem arises when young entrepreneurs face difficulty in finding available space in the ‘multi nucleated metropolitan region’ (m. gottdiener). This problem exists because of many causes including lack of funding, investor’s risk aversion and government regulatory processes in regards to construction initiatives. In managing this wicked problem there is no standard methodology to find out the correct solution or a blend of them (rittel Webber). Numerous stakeholders are prepared to judge the solutions, albeit none has the ability to set formal decision principles aiming for accuracy. Their judgments vary
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This essay aims to examine this specific wicked problem space in the connection to Sydney’s economic development strategy and availability of capital for young entrepreneurs.
Even though there are a few places available in Sydney, but as these are expensive and due to the restriction of capital and investor’s low risk appetite, young entrepreneurs cannot afford …show more content…
But as a solution to a wicked problem can itself cause a lot of problems (?), the same can be seen with the prospect of urbanization. Urbanization can lead to difficulty in waste management, air pollution, scarcity of finite resources, traffic congestion, human health concerns and environmental degradation (12,96,101). There are also multiple diverse stakeholders involved with conflicting points of view; high level of interdependence amongst the stakeholders (28,88,102) is also present which results in a highly complex social and political problem. Conclusively we can say that urban renewal is not a ‘one-shot’ solution to the problem of availability of space (?). Extensive research is conducted to work out to eliminate the negative effects of constructing. One such research lays out the criteria for designing healthy buildings which has access to light, air, sunlight and open spaces through detaching the buildings from one another and spreading them out (Matthew carmona). But even after this, conflict of the multiple perspectives of stakeholders is still not solvable as one stakeholder or the other will always be in a position to say that a certain aspect of financial benefit, ecological quality and social equity is not achieved. In the mid of 2013, DP&E publicly exhibited a draft structure plan for the ‘Broader Western Sydney Employment Area’ (wsea). The
This essay aims to examine this specific wicked problem space in the connection to Sydney’s economic development strategy and availability of capital for young entrepreneurs.
Even though there are a few places available in Sydney, but as these are expensive and due to the restriction of capital and investor’s low risk appetite, young entrepreneurs cannot afford …show more content…
But as a solution to a wicked problem can itself cause a lot of problems (?), the same can be seen with the prospect of urbanization. Urbanization can lead to difficulty in waste management, air pollution, scarcity of finite resources, traffic congestion, human health concerns and environmental degradation (12,96,101). There are also multiple diverse stakeholders involved with conflicting points of view; high level of interdependence amongst the stakeholders (28,88,102) is also present which results in a highly complex social and political problem. Conclusively we can say that urban renewal is not a ‘one-shot’ solution to the problem of availability of space (?). Extensive research is conducted to work out to eliminate the negative effects of constructing. One such research lays out the criteria for designing healthy buildings which has access to light, air, sunlight and open spaces through detaching the buildings from one another and spreading them out (Matthew carmona). But even after this, conflict of the multiple perspectives of stakeholders is still not solvable as one stakeholder or the other will always be in a position to say that a certain aspect of financial benefit, ecological quality and social equity is not achieved. In the mid of 2013, DP&E publicly exhibited a draft structure plan for the ‘Broader Western Sydney Employment Area’ (wsea). The