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ENTREPRENEUR

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Title: ENTREPRENEUR


1
UNIT - 5
ENTREPRENEUR
2
Introduction Think New, differently , Do
everything in a new different way Todays
Mantra of Success . Come Out Of Shell . Eliminate
Conventional Thinking A sort of R D.
challenge Try finding alternative fuel.
  • Ideas drive Economies, no wonder that
    Innovation Entrepreneurship are often seen as
    inseparable.
  • Science Technology Students have to be
    Motivated Trained to Think Out Of The Box so
    that an Entrepreneurial Culture is Built. The
    Ones feasible Ways of doing Business are no
    longer Guarantees for Future Economic Success,
    hence, the Govts around the World have started
    to realize that Entrepreneurship Innovation
    need to be encouraged in order to sustain
    progress improve a Countrys Economy.

3
  • Entrepreneurs are responsible for
    Industrial Development the fruits of
    Industrial Development are greater Employment
    Opportunities to the Unemployed, Increase in
    Income Levels of People, Improvement in Standard
    of Living, Increased Revenue to the Government in
    the form of Direct Indirect Taxes Balanced
    Regional Development.
  • India needs Entrepreneurs for Two Reasons
  • 1) To Capitalize on New
    Opportunities to Create Wealth.
  • 2) To Create Wealth New Jobs.

4
Definitions on Entrepreneur
  • 1) Peter F. Drucker defines
    Entrepreneur as One Who Always searches for
    Change, Responds to it Exploits it as an
    Opportunity. Innovation is the Specific Tool of
    Entrepreneurs, the Means by which, they Exploit
    Change as an Opportunity for Different Business
    or Service.
  • 2) Encyclopedia Britannica defines an
    Entrepreneur as an Individual who bears the Risk
    of Operating a Business in the Face Of
    Uncertainty about the Future Conditions.

5
  • 3) International Labor Organization (ILO)
    This defines Entrepreneurs as People who have
    the Ability to See Evaluate the Business
    Opportunities together with the necessary
    Resources to take Advantage of them to
    initiate Appropriate Action to ensure Success.
  • 4) Dr. Poornima M. Charantimath,
    Professor, Management Studies, KLS Institute of
    Management Education Research (IMER), Belgaum
    says The World Entrepreneur is derived from a
    Sanskrit Word called Antaraprerana ! (Urge from
    within or Internal Urge).

6
  • 5) Francis A. Walker observes that the
    True Entrepreneur is one who is endowed with more
    than Average Capacities in the Risk of
    Organizing Coordinating the Various other
    factors of Production. He is a Pioneer Captain
    of Industry.
  • 6) E. E. Haggen defines Entrepreneur is
    an Economic Man who tries to Maximize his profits
    by Innovations. Innovations involve Problem
    Solving the Entrepreneur gets satisfaction from
    using his Capabilities in Attacking Problems.

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  • Conclusions Definitions of an
    Entrepreneur are divided into 3 Streams
  • 1) The Ones describing Roles of an
    Entrepreneur.
  • 2) The Other describing Characteristics
  • 3) Ones Focusing on Success Factors.
  • Summarizing, the Entrepreneur can be
    described as a Person (a) Who carries out a Role
    in the Economic World by creating Added Value
    who bears the Risk Responsibility. (b) One
    with a Combination of Specific Personal
    Characteristics (Creative, Innovative, Dynamic
    etc.)
  • Two Conditions seem to be Vital in
    Order to become an Entrepreneur The Will to
    Succeed, Achieve etc., and Opportunities for
    Creating Value, Innovation etc.

9
Evolution of the Concept of Entrepreneurship
  • He is a Person who creates Enterprise. The
    Process Creation is called as Entrepreneurship.
  • This evolved from the French Word
    Entreprende in the 12th Century. In the early
    16th Century, it was applied to those who were
    engaged in Military Expeditions. In the 17th
    Century, it was extended to cover Civil Engg
    Services. In the 18th Century, Richard Centillon
    described Entrepreneur as One Who Bears Risk by
    buying at Certain Prices selling at Uncertain
    Prices which is closer to the Terms as Applied
    Today.

10
  • In 1848, the famous John Stuart Mill
    described Entrepreneurship as the founding of a
    Private Enterprise. This encompassed Risk Takers,
    the Decision Makers, the Individuals who desire
    Wealth by Managing Limited Resources to create
    New Business Ventures.
  • Joseph Schumpeter (1934) stated
    Entrepreneur as one who applies Innovation
    within the Context of the Business to satisfy
    Unfulfilled Market Demand.
  • Peter F Drucker perceived
    Entrepreneurship as the Creation of a New
    Organization, regardless of its ability to
    Sustain itself, let alone make a Profit.
  • Evolution of the Concept of
    Entrepreneur is considered over nearly Four
    Centuries Old, the Characteristics of
    Entrepreneurs being Risk Taking Innovation,
    Organization Creation, Creating Value, Profit or
    Non Profit Growth, Uniqueness the Owner
    Manager.

11
  • These Views about Entrepreneur can be
    classified into 3 Groups viz., Risk Bearer,
    Organizer Innovator. These Views have been
    discussed below
  • 1) Entrepreneur as a Risk Bearer
  • Richard Cantillon, French
    Economist was the first to introduce the term
    Entrepreneur his Unique Risk Taking Function
    in Economics in the early 18th Century.
    Entrepreneur is One Who Buys Factors of
    Production at Certain Prices in Order to Combine
    them into a Product with a View to Sell it at an
    Uncertain Price. He illustrated a Farmer who pays
    out Contractual Incomes which are certain to the
    Landlords Laborers sell them (the Produce) at
    an Uncertain Price.
  • So also the Merchants who
    make Certain Payments in expectation of uncertain
    receipts. Thus, they too are Risk Bearing
    agents of Production.

12
  • Thus, we can say that Entrepreneurs
    are a Specialized Group of People who bear
    Uncertainty. Uncertainty is defined as a Risk
    which cannot be insured against cannot be
    Calculated. Thus, Entrepreneur is a Economic
    Functionary who undertakes such a Responsibility
    of Uncertainty which by its very nature cannot be
    Insured, nor Capitalized nor Salaried too.

13
  • 2) Entrepreneur as an Organizer
  • Entrepreneur is associated with
    the functions of Coordination, Organization
    Supervision. He is a Person who combines the Land
    of One, labor of the Other, the Capital of Yet
    Another thus produces a Product.
  • By Selling a Product in the
    Market, he Pays Interest on Capital, Rent on
    Land, Wages to Laborers What Remains is his
    Profit. According to Jean - Baptist Say, in the
    Course of Undertaking a Number of Complex
    Operations like Obstacles to be surmounted,
    Anxieties to be Suppressed, Misfortunes to be
    Overcome, Expedients to be devised, Three more
    Implicit Factors are deemed to be essential which
    are as given below

14
  • 1) Moral Qualities for Work Judgement,
    Perseverance a Knowledge about the Business
    World.
  • 2) Command Over Sufficient Capital.
  • 3) Uncertainty of Profits.
  • 3) Entrepreneur as an Innovator
  • Innovation can be perceived
    simply as the Transformation of Creative Ideas
    into useful Applications by combining Resources
    in New or Unusual Ways to provide Value to
    Society for Improved Products, Technology, or
    Services.

15
  • By adding Innovative features to a
    Product or Service, Setting up a Business based
    on these additional features to compete in the
    Existing Market, New Entrants may be able to gain
    a Competitive Edge over the Existing Market
    Players.
  • Another Study stated that
    Entrepreneur is One Who Applies Innovation
    within the Context of Business to Satisfy
    Unfulfilled Market Demand. Entrepreneur is an
    Innovator who implements changes within Markets
    thro carrying out of the New Combinations which
    can take Several Ways as follows

16
  • 1) The finding of a New Market.
  • 2) The finding of a New Source of
    Materials Supply.
  • 3) The introduction of a New Product or a
    New Standard of Quality.
  • 4) The introduction of a New Best
    Method of Production.
  • 5) The Opening of a New Kind of
    Business in an Industry.

17
  • Eg Jeff Bezos, the Founder of
    Amazon, the Very Successful Book Store. He was
    one of the first to Sell Books on a Large Scale
    using an On Line Store also patented the One -
    Click System for Online Buying.
  • Though Selling Books is not an
    Innovation in itself, Jeff Bezos was Innovative
    in the Use of the Internet then as a Viable
    Marketing Sales Channel for Selling Books.
  • To summarize, the Concept of
    Entrepreneur is closely associated with the 3
    Basic Factors Risk Bearing, Organizing
    Innovating. Thus, an Entrepreneur can be defined
    as a Person who Tries to Create Something New,
    Organizes Production in the Process Undertakes
    Risks Handles Economic Uncertainty involved in
    his/her Enterprise.

18
Functions of an Entrepreneur
  • An Entrepreneur performs all the
    Functions necessary, right from generating the
    Idea for his proposed Enterprise where there is a
    Need, Opportunity exists up to establishing his
    Enterprise Subsequently Running it Successfully
    Earn Profits.
  • The Functions are listed below in a
    Sequential Manner

19
  • 1) Generation of Business Ideas
    Choosing the Best Suitable Idea after Necessary
    Scanning. Many Entrepreneurs keep an Eye for
    Opportunity start by finding a need quickly
    satisfying it. This is the most important
    function of an Entrepreneur, as subsequent
    success or failure of his enterprise depends on
    his decision at this stage. Therefore the
    Entrepreneur has to exercise great care before
    deciding to choose a particular Business Idea for
    his proposed Enterprise.

20
  • 2) Determination of Business Objectives
    i.e., What he wants to achieve in his proposed
    Business Enterprise.
  • 3) Product Analysis MR to make sure
    that there is a Good Market Potential for the
    proposed Product / Service.
  • 4) Determination of form of Ownership /
    Organization. i.e., Proprietorship / Partnership
    / Private Limited Company.
  • 5) Completion of Promotional
    Formalities , they are

21
  • Identifying a Location.
  • Looking for a Suitable Land / Building in
    the Proposed Location.
  • Obtaining Provisional Registration (PRC)
    from District Industries Centre of the District
    in which the proposed Business is to be
    established.
  • Preparation of Plant Layout Building Plan,
    if reqd to be constructed.
  • Taking effective steps for reqd
    infrastructural facilities like Power, Water,
    Communication Facilities etc.
  • Preparing a Detailed Project Report or
    Business Plan.

22
  • 6) Making necessary arrangements for
    Finance to implement the Project by approaching
    State Financial Corporation for Long Term Loan
    Banks for Working Capital Loan.
  • In addition, Entrepreneur has to
    arrange his Own Financial Resources as Equity or
    Margin Money for the Project. This can be 25 to
    30 of the Cost of the Project.
  • 7) Undertaking Building Construction, if
    Ready Shed is not taken.
  • 8) Plant Machinery Ordering,
    Procuring, Installation.
  • 9) Getting Electrical Power Connection
    Other Utilities.
  • 10) Arranging for Various Raw Materials
    Consumables.
  • 11) Arranging Key Managerial /
    Supervisory Persons.
  • 12) Recruiting reqd Manpower viz.,
    Skilled, Semi - Skilled Helpers (Un Skilled).

23
  • 13) Undertaking Trial Productions,
    Overcoming Initial Teething Problems
    Stabilizing the Production Operations.
  • 14) Commencing the Commercial Business
    Operations.
  • 15) Marketing the Products.
  • 16) Taking Feedback from the Market for
    Customer Satisfaction, because Customer is the
    King. Effective Remedial Steps to be taken if
    there are Customer Complaints on Quality,
    Performance, Delivery Schedule etc.

24
  • 17) After Stabilizing the Commercial
    Business Operations, Provisional Registration
    Certificate (PRC) issued by District Industries
    Centre has got to be converted into Permanent
    Registration Certificate (PMT) by filing the
    necessary reqd Application.
  • 18) All other Statutory Licenses /
    Registrations as per the Govt Regulations have to
    be obtained during Implementation after
    Successful Commencement of Commercial Production.
  • 19) Approaching the District Industries
    Centre for Grant of Concessions / Incentives as
    per the Govt Industrial Policy Regulations. For
    this, the Entrepreneur has to fill up the
    Necessary Forms Submit the same to the District
    Industries Centre with all the reqd Documents.

25
  • 20) Entrepreneur has to always keep an
    Eye on the Market Conditions be prepared to
    innovate to face the Competition because Market
    Conditions are Fast Changing, Customer Needs are
    Changing. Success today is No Guarantee of
    Success Tomorrow.
  • 21) Entrepreneur should never be Happy
    about his Achievement. He must always try for
    Growth Expansion of his Business Activities. He
    should Plan at least 20 to 25 growth over his
    previous years performance, because stagnation in
    Business leads to sickness slow death of his
    enterprise.

26
  • 22) Finally, a Very Important Function of
    an Entrepreneur is dealing with People because
    Business is People. An Entrepreneur has to
    maintain a Very Cordial Healthy Relationship
    with his Managers, Supervisors, Workmen,
    Customers, Materials, Suppliers, Vendors,
    Bankers, Financial Institutions, Govt Officials
    all those who are connected Directly or
    Indirectly with his Business Enterprise.
  • Now we can summarize that, the
    Functions of an Entrepreneur have to incorporate
    Coordination of the Business Management of the
    Enterprise, Risk Taking, Controlling the
    Enterprise, Innovation for Change, Motivation
    Other Related Activities. In reality, an
    Entrepreneur has to carry out a Combination of
    these in keeping with Time Environment. He has
    to consider New Ideas, Demands Exploit the
    Opportunities thereby contribute to the
    Technical Economic Progress . He is thus the
    Nucleus of High Growth of the Enterprise. The
    Entrepreneurial Functions are depicted
    Schematically as Shown below

27
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28
Types of Entrepreneur
  • There are Different Types of
    Entrepreneurs so also the Important
    Classifications of Entrepreneurs. Some of the
    Important Classifications of Entrepreneurs
    Different Types of Entrepreneur in each
    Classification are enumerated below
  • I) Classification of Entrepreneurs
    based on Functional Characteristics
  • a) Innovative Entrepreneur.
  • b) Imitative or Adoptive
    Entrepreneur.
  • c) Fabian Entrepreneur.
  • d) Drone Entrepreneur.

29
  • II) Classification of Entrepreneurs on the
    Development Angle
  • a) Prime Mover.
  • b) Manager.
  • c) Minor Innovator.
  • d) Satellite.
  • e) Local Trading.
  • III) Classification of Entrepreneurs based
    on Types of Business
  • a) Manufacturing.
  • b) Wholesaling.
  • c) Retailing.
  • d) Service.

30
  • IV) Classification of Entrepreneurs as per
    the Behavioral Scientists
  • a) Solo Operators.
  • b) Active Partners.
  • c) Inventors.
  • d) Challengers.
  • e) Buyers.
  • f) Life Timers.

31
  • I) a) Innovative Entrepreneurs Such an
    Entrepreneur introduces New Goods / Products /
    Services or New Methods of Production or
    discovers New Markets or Reorganizes his
    Enterprise. Entrepreneurs in this Group are
    Characterized by an aggressive collection of
    information for trying out Novel Combination of
    Factors. Such Entrepreneurs do well when a
    certain level of development is already achieved
    they look forward to improve upon the Past.
  • b) Imitative or Adoptive
    Entrepreneurs
  • Such Entrepreneurs do not Innovate
    themselves, but Imitate or Copy Techniques
    Technology innovated by other Innovative
    Entrepreneurs. They are Characterized by their
    readiness to adopt Successful Innovations by
    other Entrepreneurs. They are particularly
    suitable for Under Developed Regions as Adoption
    saves Costs of Trial Error.

32
  • c) Fabian Entrepreneur
  • They display great caution
    skepticism in experimenting with any change in
    their Enterprise. They adopt changes only when
    there is an imminent threat to the very Survival
    of their Enterprise.
  • d) Drone Entrepreneur
  • These Entrepreneurs are
    characterized by a Die Hard Conservative
    Attitude. They do not easily seize opportunities
    to make changes in their production techniques or
    the Technology employed, even at the Cost of Low
    Returns on their Investments compared to other
    similar enterprises. Such entrepreneurs may even
    incur Huge Losses but they will not be ready to
    make Changes in their existing production
    techniques.

33
  • II) a) Prime Mover This Entrepreneur
    sets into Motion a Powerful Sequence of
    Development, Expansion Diversification of
    Business.
  • b) Manager Such an Entrepreneur
    does not initiate Expansion is content just
    Staying in Business.
  • c) Minor Innovator
  • He contributes to Economic
    Progress by finding better use for Existing
    Resources.
  • d) Satellite The Entrepreneur
    assumes a Suppliers Role slowly moves towards
    a Productive Enterprise.

34
  • e) Local Trading Such an Entrepreneur
    limits his enterprise to the Local Market.
  • III) a) Manufacturing Entrepreneur is
    involved in Production of Value Added Goods by
    using Various Inputs Raw Materials,
    Consumables, Labor, Power Other utilities.
    Goods can be a Variety of Products like Castings,
    Forgings, Soaps, Detergents, Various chemicals,
    Textiles, Plastic Components, Footwear, School
    Bags, Electronic Electrical Items, Computer
    Related Products etc. etc.,

35
  • b) Wholesaling An Entrepreneur with
    such a Business sells Products to the Middle Men
    or Retailers.
  • c) Retailing An Entrepreneur with
    such a Business sells Products directly to the
    Consumers or End Users.
  • d) Service An Entrepreneur in this
    Business sells Services not the Products.

36
  • IV) a) Solo Operators Such
    Entrepreneurs usually Work Alone if needed at
    all, employ a few employees to assist. Most of
    the Entrepreneurs begin their Entrepreneurial
    Career in this fashion.
  • b) Active Partners These
    Entrepreneurs start their enterprise in
    Partnership. All the Partners actively
    participate in the Operation of the Enterprise.
    Entrepreneurs who only contribute funds to the
    enterprise but do not actively involve in
    Business Activity are called simply Partners.

37
  • c) Inventors Such Entrepreneurs with
    their Competence Inventive Nature, Invent New
    Products. Their Basic Interest lies in Research
    Innovative Activities.
  • d) Challengers Such Entrepreneurs
    plunge into Business because of the Challenges it
    Presents. When One Challenge is satisfied, they
    will be on the lookout for New Challenges.
  • e) Buyers Such Entrepreneurs do not
    wish to bear much Risk. Hence, in order to reduce
    Risk involved in establishing a New Enterprise,
    they wish to buy an Ongoing One.
  • f) Life Timers Such Entrepreneurs take
    Business as an Integral Part of their Life.
    Usually, the Family Enterprise Businesses which
    call for Personal Skills fall in this Category of
    Entrepreneurs.

38
Intrapreneur - An Emerging Class.
  • These New Breed of Entrepreneurs are
    emerging from Big Companies.
  • In this Case the Entrepreneurial Spirit of
    Small Companies is transferred to Big Companies.
  • Such Entrepreneurs of Big Companies are
    called as Intrapreneurs, an Emerging Class of
    Entrepreneurs.
  • Intrapreneurship is a Method of
    Stimulating then Capitalizing on Individuals in
    an Organization who think that something can be
    done differently better.

39
  • There are strong similarities between
    Intrapreneurs Entrepreneurs as strongly
    contrasted with the Characteristics of
    traditional Managers.
  • In Large Organizations, the Senior Level
    Executives are encouraged to develop New Ideas
    then convert their innovative ideas into New
    Products thro Research Development Activities
    within the Frame Work of the Organization.
  • This Concept of Intrapreneurship is gaining
    Great Popularity in Developed Countries like the
    USA. In fact, Increasing Number of Intrapreneurs
    are leaving their Jobs in Big Organizations are
    starting their Own Enterprises.
  • Many of such Intrapreneurs have become very
    successful in their newly established enterprises
    in fact are competing with their Parent
    Organizations are even posing as a Business
    Threat to them.

40
Differences between Entrepreneurs Intrapreneurs

41
Concept of Entrepreneurship its Evolution
  • According to Peter F Drucker,
    Entrepreneurship is neither a Science nor an
    Art, it is a Practice.
  • It has a Knowledge Basis. Knowledge in
    Entrepreneurship is a Means to an End, Indeed
    what constitutes Knowledge in Practice is largely
    defined by the Ends, that is by Practice.
  • There are Several Definitions of
    Entrepreneurship, important ones being some of
    the Following

42
  • 1) It is a Purposeful Activity of an
    Individual or a Group of Associated Individuals,
    undertaken to initiate, Maintain or increase
    Profit by Production or Distribution of Economic
    Goods Services.
  • 2) It is an attempt to Create Value thro
    Recognition of Business Opportunity, the
    Management of Risk Appropriate to Opportunity
    thro the Communicative Management Skills to
    mobilize Human, Financial Material Resources
    necessary to bring a Project to fruition.

43
  • 3) Entrepreneurship is the ability to
    create build a Vision from practically nothing.
    It is a Dynamic Process of Creating Incremental
    Wealth.
  • 4) According to One Study, the
    Definition is Entrepreneurship is based on
    Purposeful Systematic Innovation. It includes
    not only the independent businessman but also
    company direction managers who actually carry
    out innovative functions.

44
Summary
  • Entrepreneurship can exist in Different
    Kinds of Business, on all levels of Company size
    in different functions.
  • In all above definitions,
    Entrepreneurship refers to the activities
    performed by an Entrepreneur in establishing an
    Enterprise. We can therefore say that
    Entrepreneurship is the Act of being an
    Entrepreneur. It is a Process involving various
    Activities to be undertaken to establish an
    Enterprise.

45
  • The Two Basic Elements involved in
    Entrepreneurship are Innovation Risk
    Bearing.
  • These Two Factors are Given Below
  • 1) Innovation This refers to coming out
    with a New Product or Process or doing something
    differently. This is a Basic Characteristic of
    Every Entrepreneur. There are a Few Innovations
    New Products developed as given in the Egs below

46
  • Egs 1) Bisleri introduced Packaged
    Drinking Water, every one was wondering whether
    this Business Idea would ever succeed. Now you
    can see several other Entrepreneurs have copied
    this idea have set up Enterprises to
    manufacture Packaged Drinking Water. In fact,
    many of them have been successful too. The reason
    being, People are Health Conscious are ready to
    pay Extra Money for sake of their Health. Hence,
    a Good Market has developed for this Product.

47
  • 2) Introduction of Taj Mahal Tea Bags
    (Dip Tea) for use by Travelling Public, by
    various Big Manufacturers of Tea Powder.
  • 3) Various Ready to Cook Packaged Food
    Items introduced by MTR Ltd., Bangalore to
    cater to the needs of Working Couples in Bigger
    Cities Metros other Consumers.
  • 4) The Rs 1.00 Lakh Nano Car released
    by Tata Motors recently to meet the needs of 4
    Wheelers for the Middle Class people in the
    Country who cannot afford Expensive Vehicles
    who wish to switch to 4 Wheelers from 2 Wheelers.

48
  • From the above Egs, We can infer that
    the Entrepreneurs need to innovate continuously
    to come out with Newer products to meet the
    Changing Demands of the Customers.
  • 2) Risk Bearing
  • Any Business Proposition has an element
    of Risk, the Reason being very obvious that, an
    Enterprise may Earn Profits or Incur Losses
    because of Various Factors beyond the Control of
    the Entrepreneur like Increasing Competition,
    Labor Unrest. He needs to be Courageous to face
    the Risk Challenges involved in running the
    Enterprise. His ability to Sustain Risk
    ultimately helps him to be a Successful
    Entrepreneur, against All Odds.

49
The Terms Entrepreneur
Entrepreneurship are often used Interchangeably
but they are Conceptually Different. Relationship
between these Two Terms are given below
50
As seen from the above Relationship,
Entrepreneurship is concerned with Performance
Coordination of the Entrepreneurial Functions.
This also means that Entrepreneur precedes
Entrepreneurship. To give clarity to the concept
of Entrepreneurship, the same is represented in
Fig., below
51
Development of Entrepreneurship
  • Introduction
  • Down the Years, many Myths have been
    created about Entrepreneurship. Some of the
    Important Myths are
  • 1) Entrepreneurs are Born, not made.
  • 2) All you need is Money to be an
    Entrepreneur.
  • 3) All you need is Luck to be an
    Entrepreneur etc.

52
  • Such Myths do not hold good any more
    at present, as Emperical (Experimental Study)
    have shown that Entrepreneurs are made can be
    developed thro a Process of Entrepreneurship
    Development, Training Activities.
  • Development of Entrepreneurship is a
    Key to achieve overall Economic Development thro
    an increased level of Industrialization. This is
    a Process in which Persons are injected with
    Motivational Drives of Achievement insight to
    tackle Uncertain Risky Situations especially in
    Business Undertakings.
  • The Process of Entrepreneurial
    Development focuses on Training, Education, Re
    Orientation Creation of Conducive healthy
    Environment for the Growth of the Enterprises.

53
EDP
  • This is designed to help a person in
    strengthening fulfilling his Entrepreneurial
    Motive in acquiring reqd skills capabilities
    to become a successful Entrepreneur.
  • Towards this end, it is necessary to
    promote his understanding of Motives
    Motivational Pattern, their Impact on Behavior
    Entrepreneurial Value. A Program which seeks to
    do that can be called an Entrepreneurial
    Development Programme (EDP).

54
  • EDP is primarily meant for developing
    those First Generation Entrepreneurs who on their
    Own cannot become Successful Entrepreneurs, it
    covers 3 Major Variables
  • i) Location ii) Target Group iii)
    Enterprise (Entrepreneurial Activities).
  • In fact, any one of the above three
    variables can be used as a Starting Point for
    initiating implementing an EDP. The remaining
    Two then will follow by making the proper
    synthesis with the first.

55
  • Eg 1 If the Object is to develop
    Backward North Karnataka Regions, then the
    Potential Target Group feasible Entrepreneurial
    Ventures must follow.
  • Eg 2 If the Objective is to Promote IT
    based Enterprises, suitable Target Group
    Location must Match.
  • EDP by itself mainly aims at
    achieving Specific Objectives of the Programmes
    therefore cannot create any Magical Result. It is
    a Continuous Process of Training Motivating
    then to set up Profitable Enterprises in Large
    Nos.

56
Entrepreneurial Development Models
  • The Models suggested for the
    Development of Entrepreneurship fall into the
    Following Categories
  • 1) Psychological Models.
  • 2) Sociological Models.
  • 3) Integrated Models.

57
1) Psychological Models
  • Many Researchers, while Identifying
    Determinants of Entrepreneurship, have given more
    importance to Achievement Motives.
  • Change in Motivation is seen
    primarily as a Result of Ideological Arousal of
    the Latent Need for Achievement among Youths.
  • Hence Achievement Orientation has
    been identified as the Key Variable in the
    Development of Entrepreneurship therefore, Mc
    Clelland suggests Motivation Training Programme
    as the Policy Measure, which will make
    Entrepreneurs really willing eager to exploit
    the New Opportunities Provided.

58
  • Another Model suggested by John Kunkel
    (1965) for Entrepreneurship Development is a
    Behaviorist Model. According to him,
    Entrepreneurial Behavior is a Function of the
    surrounding Social Structure both Past Present
    can really be influenced by manipulating
    Economic Social Incentives. Thus, John Kunkels
    Model is based on the Experimental Psychology,
    which identifies Sociological Variables as the
    Determinants of Entrepreneurship Development.

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2) Sociological Models
  • Frank W. Youngs Theory of
    Entrepreneurship is a Theory of Change based upon
    Incorporation of Relative Sub Groups in the
    Society.
  • The Relativeness of a Sub Group which
    has a Low Status in a Larger Society will lead to
    Entrepreneurial Behavior if the Group has better
    Institutional Resources than others in the
    Society at the same level.
  • Youngs Model of Entrepreneurship
    suggests that the Creation of Supporting
    Institutions in Society as the Determinant of
    Entrepreneurship.

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3) Integrated Models
  • T.V Rao (1975) identifies the following
    factors as the Determinants of Entrepreneurship
  • a) Need for motive is the Dynamic
    which, for the Prospective Entrepreneur, has the
    greatest possibility of achieving the Goals if
    one performs those activities.
  • b) Long Term involvement is the
    Goal either at thinking level or at activity
    level in Entrepreneurial Activity that is viewed
    as a Target to be fulfilled.
  • c) Personal, Social, Material
    Resources which are related to entry success in
    the area of Entrepreneurial Activity.
  • d) Socio - Political System to be
    perceived as suitable for establishment
    development of his enterprise.

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  • All the above factors together, with
    their Optimal Presence lead to the entry point of
    Entrepreneurship. This in turn leads to
    acquisition of Material Resources Commencement
    of Business.
  • B.S Venkata Rao (1975) suggested
    the following Five Stages for the Promotion of
    Small Entrepreneurs.
  • 1) Stimulation The Stage includes
    the Creation of an Industrial Environment, Policy
    Statement emphasizing the Role of Small
    Enterprises in Economic Development, giving Wide
    Publicity to Industrial Development Programmes
    Announcing Special Schemes Promotion of Support
    Organizations. This Stage is necessary to
    stimulate interest of the Backward Regions in
    Industrial Activity to create awareness.

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  • 2) Identification This stage is
    necessary to identify the prospective
    entrepreneurs such as Rural Artisans, Skilled
    Factory Workers, Technocrats Graduates in
    Business Administration Management.
  • 3) Development This Stage would
    include Organization of Motivation Managerial
    Training Workshops along with Identification of
    Prospective Projects, Locations for settling up
    these Enterprises giving Technological Inputs.

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  • 4) Promotion This Stage includes Govt
    Policy Initiatives for promoting Small
    Entrepreneurs.
  • 5) Follow Up This Stage includes
    Reviewing the Policies Programmes of the Govt
    Seeking Follow Up with a View to making them
    more effective.

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  • Appropriate Design for Entrepreneurial
  • Development Programme
  • They can be developed thro
    appropriately designed Entrepreneurship
    Development Programmes based on 3 Entrepreneurial
    Development Models, Viz Psychological Models,
    Sociological Models, Integrated Models.
  • These Programmes broadly envisage 3
    Tiered Approach Developing Achievement
    Motivation Sharpening of Entrepreneurial Traits
    Behavior, Project Planning Development
    Guidance on Industrial Opportunities, Incentives
    Facilities Rules Regulations Developing
    Managerial Operational Capabilities. Various
    Techniques have been evolved to achieve these
    Objectives keeping in View the Target Groups
    or the Target Areas.

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  • Methodology for Selection of the
    Prospective Entrepreneurs the support services
    after the Training have a profound effect on the
    Success of the Entrepreneurial Development
    Programme.
  • Stages in Entrepreneurial Development
    Process (EDP)
  • Entrepreneurial Potential
  • All of us have Entrepreneurial
    Potential. Degree might differ. It is just a
    matter of Developing that Potential.
  • The 3 Main Stages of EDP are as
    follows
  • 1) Pre Training Identification,
    Selection Initial Motivation of Potential
    Entrepreneurs.

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  • 2) Training of Potential Entrepreneurs
  • 3) Post Training Support Follow
    Up Services.
  • Any successful EDP Strategy has to be
    comprehensive should avoid any exclusive or
    lopsided preference for one or the other stage.
  • Stage 1 Pre Training
  • Three important aspects of work at
    the first stage of an EDP are
  • 1) Selecting Potential Entrepreneurs.

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  • 2) Target Groups.
  • 3) Validation for Selection.
  • i) Selecting Potential Entrepreneurs
  • The Entrepreneur Identification
    Selection Mechanism which precedes training is
    based on the following Key Assumptions
  • a) Not everybody can become an
    Entrepreneur must have traits.
  • b) Such traits are identifiable
    measurable thro some psychological behavioral
    tests supported by social indices.
  • c) People possessing these traits or
    showing evidence of these traits (Entrepreneurial
    Aptitude) can be developed to acquire necessary
    dimensions of Entrepreneurship.

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  • This has led to a 3 Step Selection
    Process which begins with preliminary screening
    of those responding to the intensive promotional
    effort undertaken in the location by the Trainer
    Motivator.
  • A specially devised form which
    screens out those who are only casually
    interested in the Programme is used for this
    purpose. It is followed by an assessment of
    Candidates Entrepreneurial Trait level by
    applying Behavioral Science Techniques. The
    process ends with individual interviews for over
    all assessment about candidates suitability to
    undertake Manufacturing Activity or Business,
    together with an understanding of his specific
    needs for Training.

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  • The Entrepreneurial Traits assessed in
    the Course of Behavioral Tests include
  • a) The Need to Achieve This can be seen
    in an Individuals desire to compete with some
    standard of excellence success in performance.
  • b) Risk Taking Entrepreneurs are found
    to have an inclination to take Calculated,
    Moderate, Intelligent Risks. They tend to avoid
    Extremes of both Easy Risky Situations.
  • c) Positive Self Concept Includes Self
    Confidence as well as Self-Efficacy (Success)
    a Positive Image of Ones Abilities
    Achievements.

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  • d) Initiative Independence
  • Such people not only show initiative
    but also Independence in their Day to Day
    Behavior. They like to act on their own rather
    than Follow Directions.
  • e) Problem Solving A tendency to
    approach problems in order to solve them.
  • f) Hopeful about Future Despite
    Dissatisfaction with Present Working Conditions.
  • g) An Interest in Environment Scanning
    To Seek Answers to present Questions.
  • h) Urge for Goal Setting Time Bound
    Planning
  • With Desire to fulfill Time Bound
    Plans.

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  • In the Selection Process, Persons
    Possessing a Minimum (developable) level of
    Entrepreneurial Traits (Normally decided by a Cut
    Off Point in the Scores) are selected.
  • However, there are No Conditions of
    Minimum Education Length of Experience,
    Occupational Background or Income.
  • Despite Good Training, Liberal
    Finance other supportive assistance, it is
    found that not everyone or anyone can be
    successful in Industry. To Avoid Wastage of
    Scarce Resources for Optimal utilization of
    Limited Training Development Facilities,
    Inclination on Quality rather than on Quantity
    (Number) is deemed Critical at the first stage in
    the Strategy.

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  • ii) Target Groups
  • The Large Target Groups are
  • Technical Non Technical Employees
    in Industry, Trade Commerce such as, Mechanics,
    Machine Operators, Supervisors, Salesmen, Store
    Keepers, Middle Level Management, Small Traders,
    Fresh Graduates from Technical Non Technical
    Colleges, College Dropouts, Artisans Craftsmen,
    Govt Employees, Teachers, Ex Servicemen, Women,
    Tribals Under Privileged Castes.

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  • The Profiles of New Entrepreneurs
    reveal a Diverse Mix of Characteristics in terms
    of Education (7th Standard to Post Graduation) ,
    age (18 to 45), Occupation Family Background
    (From Unemployed to Doctors Chartered Accounts
    or from Agricultural Workers to Technicians)
    Financial Position (Mostly Income of Rs 500 to Rs
    3000 per Month).
  • This Diversity results from a Key
    Belief underlying the Programmes foundation
    that Latent Entrepreneurial Spirit is lying
    dormant in a wide variety of men women that a
    desire to be on their own to improve their
    Economic lot is humane well spread. Many,
    however, lack self confidence fail to come out
    of their shells.
  • Their enterprise is not fully
    developed or nurtured the motivation to take
    Risk is not strong enough, despite frustrations
    of their current Economic Position, Employment or
    Occupation. Some need Opportunity Counseling
    (What Business to take up), while others, the
    Information or Know how for setting up an
    Industrial Enterprise. These needs are to be met
    by a Comprehensive Entrepreneurship Development
    Programme (EDP) by filling the Gaps in the
    Information, Motivation Skill Base. When
    Where this Task has been performed effectively,
    many New Entrepreneurs have been developed with
    Competence to Set Up Operate tiny or Small
    Manufacturing or Industrial Service Enterprises
    Successfully.

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  • iii) Validation of Selection Process
  • Preliminary findings of Studies
    (Gujarath Experience) on the Validation of the
    Selection Process for EDP reveal as under
  • i) The proportion of those
    starting New Ventures from amongst the rejected
    Applicants are quite low (17) as compared to the
    Group of Candidates Selected (44).
  • ii) The Number of Persons involved
    in Entrepreneurial Movement (i.e., those
    starting a Commercial or Industrial Enterprise
    from a previous occupation as an Employee or
    Unemployed) was much less (13) among those
    rejected by behavioral science tests than those
    rejected by the alternative aid of Interviews
    alone (26).

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  • Stage II Training
  • Training occupies a Central Place
    in the entire EDP Strategy, but we have to
    careful about Identification Selection of
    Potential Entrepreneurs so that training efforts
    are not wasted.
  • Moreover, we have again to be
    equally careful to see that there is no further
    wastage for want of reqd support guidance after
    the Main Training if the Objective viz., Setting
    up of New Ventures is to be realized.

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77
Training Inputs
  • Let us briefly discuss the same
    basically divide them into Three Basic Categories
  • i) Achievement Motivation.
  • ii) Business Opportunity Guidance
  • iii) Business Management.

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  • i) Achievement Motivation
  • For the development of selected
    trainees into Well Rounded Competitive
    Entrepreneurs, the programme provides training
    inputs as follows
  • An Intensive Training Programme thro
    a Five Day Programme (40 - 50 Hrs) is given to
    develop Entrepreneurial Traits such as, need to
    Achieve, Risk Taking, Initiative etc.
  • The Motivation Inputs serve to
  • a) Increase the Persons need for
    Achievement.
  • b) Help Participants define their
    Goals realistically work towards their
    achievements
  • c) Heighten their Self Awareness.
  • The above is called as
    Achievement Motivation Training (AMT). It is a
    Crucial Dose of Behavioral, Psychological Input.

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  • ii) Business Opportunity and Project
    Selection
  • While Opportunity Project
    Selection is initiated engaged in the initial
    stage itself, a more intensive treatment is
    reserved for Phase II. Guidance sessions are
    held on selecting an appropriate industrial
    opportunity for each trainee consistent with his
    experience, competence financial resources.
  • Perceiving a profitable
    opportunity for commercial exploitation is an
    essential quality of an Entrepreneur.
  • By providing information
    counseling on various feasible industrial
    opportunities in the area thro a Team of Experts
    (Successful Industrialists, Leading Traders,
    Merchants, Technical Experts from Industry,
    Financial Institutions consultancy
    organizations) by Spot Surveys, each Trainee
    Entrepreneur gets tied up with a Business
    Opportunity which turns to his goal.
  • Inadequate Knowledge of an
    Opportunity or absence of a Clear Project
    Proposal, therefore, need not be a Handicap in
    aspiring to be an Owner Entrepreneur. In fact,
    the Training Culminates in the Completion of a
    Project Report prepared by each Trainee. Finally,
    it also constitutes a way in which the finance
    for the Project is raised thereby links up
    completion of training with the support of
    Financial Institutions for Implementation.

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  • iii) Business Management
  • The Small Scale Entrepreneur
    has to be a Good Manager also since he cannot
    afford Specialists to look after Multiple
    Business Decisions of Sales, Finance, Purchase,
    Personnel etc.
  • Though Rounded Managerial
    Experience is essential for better performance,
    the New (Trainee) Entrepreneur emerging from the
    Ranks of Employees Fresh Graduates usually
    possess familiarity with or experience in only
    one area, Viz., Production or Sales or
    Supervision. The Overall Managerial Understanding
    is therefore developed thro the Business
    Sessions.
  • The Syllabus can be evolved in
    Consultation with Operating Entrepreneurs,
    practicing trade industry experts past
    trainees, leaving it to the trainer to make
    modifications to suit the Target Group Local
    Conditions. This enables the Participants to look
    at an Enterprise in its totality introduces
    them to the elements of Planning, Budgeting
    Control as aids to Good Management.

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  • Faculty
  • Normally, no full time faculty is
    used for the Training Programme except the
    Trainer or Project Leader supported by Project
    Formulation Expert.
  • Most of the Business Inputs are
    given thro Management/Professional Practitioners,
    Business Industry Executives, Experts of State
    Industrial Agencies, Bankers, Technical
    Consultancy Organizations etc.
  • A Full Time Project Leader In
    Charge of the Training Centre is the Back Bone of
    EDP. He acts as a Friend, Philosopher, Guide
    Personnel Counselor taking care of the Needs of
    the Trainees. He Organizes Administers the
    Programmes is responsible for the entire
    training process.

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Stage III Post Training
  • Each Group of Entrepreneurs in an
    Entrepreneurship Programme is looked after by the
    Entrepreneur Trainer Motivator. He is
    responsible for Organizing Post Training
    Support also. This involves
  • a) Follow up on Loan Application for
    Finance.
  • b) Facilitating Infrastructure such as
    Land, Factory Shed, Power etc finally,
  • c) Trouble Shooting.
  • His Counseling, Resourcefulness
    Liaison Skills come handy in expediting Project
    Application.
  • Occasional Visits by the Trainer
    for Trouble Shooting may well help. Whenever an
    Entrepreneur needs help, he needs to be
    encouraged to approach the Trainer.

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Role of Entrepreneurs in Economic Development
  • The Importance of Entrepreneurial
    Resource as a Crucial Input in the Process of
    Economic development has now been widely
    recognized by eminent scholars, economists
    policy makers.
  • With Growing Emphasis on the Role of
    Small Scale Medium Scale Enterprises in view of
    their contributions to employment generation,
    regional development overall economic growth, a
    wide range of schemes programs aimed at
    accelerating the tempo of new activities in the
    decentralized sector has been devised in many
    developing countries.
  • India is a Developing Economy aiming at
    Decentralized Industrial Structure to overcome
    Regional Imbalances in levels of Economic
    Development. Small Scale Entrepreneurs in such
    Industrial Structure play a very vital role to
    achieve Balanced Regional Development. It is a
    well established fact that Small Scale
    Enterprises provide immediate Large Scale
    Employment ensuring a more equitable distribution
    of National Income, Generate Large Scale Indirect
    Employment opportunities in support organizations
    around the Industrial Clusters / Estates, Improve
    Living Standards of People also most important,
    facilitate an effective resource mobilization of
    capital skills which might otherwise remain
    idle.

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  • Role of Entrepreneurs in Economic
    Development (A Summary )
  • Entrepreneurship promotes effective Capital
    formation by mobilizing the idle savings of the
    Public.
  • It provides Large Scale Direct Indirect
    Employment to the Unemployed Youth in the Country
    thereby helps the Govt to overcome Socio
    Economic Problems.
  • Improves Standard of Living.
  • Promotes Balanced Regional Development.
  • Helps reduce the Concentration of Wealth
    Economic Power in the hands of a few people.
  • It stimulates equitable distribution of
    Material Resources, Wealth, Income even
    political power in the interest of the Country.
  • Encourages effective Resource Mobilization
    of Capital Skill which might otherwise remain
    unutilized idle.
  • Helps in Harnessing Vast Natural Material
    Resources of the Country for Economic Growth.
  • Promotes Backward Forward linkages which
    in turn, stimulates the process of Economic
    Development in the Country.
  • Contributes substantially in Countrys Export
    Trade thereby helps the Country to earn Vital
    Foreign Exchange.
  • Helps the Country in Overall Development
    improving its Status in the World.

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Entrepreneurship in India
  • Entrepreneurship is regarded as
    closely associated with the Economic History of
    India. This is traced way back to even as early
    as Rig Veda, when Metal Handicrafts manufacturing
    cottage small enterprises existed in the
    Country.
  • It has passed thro several Ups
    Downs. The important ones include the Decline of
    Indian Handicrafts Industry towards the end of
    the 18th Century, entry of the East India Company
    of the Britishers in Indias Business
    Activities. The Swadeshi Campaign for Indian
    Manufactured Goods, the First World War,
    Emergence of the Indian Managing Agency Systems
    by promoting Joint Stock Companies, the Second
    World War, Partition of Undivided India
    undertaking planned development of
    Entrepreneurship in the Country by Govt of India
    after Independence in 1947.
  • For the purpose of encouraging
    Entrepreneurship, the Govt of India brought out
    the First Industrial Policy Resolutions in 1948
    which was subsequently revised from Time to Time.
    The Govt of India in order to promote , assist
    develop industries in the National Interest has
    taken the following Three Important Resolutions
    in the Industrial Resolutions

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  • i) To maintain a proper distribution of
    economic power between Private Public Sector.
  • ii) To encourage Rapid Industrialization
    by moving the concept of Entrepreneurship from
    existing centers to other cities, towns rural
    areas.
  • iii) To disseminate the Entrepreneurship
    acumen concentrated in a few dominant communities
    to a large number of Industrially Potential
    People of varied Social Background.

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  • To achieve these Objectives the Govt
    accorded emphasis on the Development of Small
    Scale Industries in the Country. Since the 3rd
    Five Year Plan, the Govt announced various
    Incentives Concessions in the form of Capital,
    Technical Know How, Reservation of Certain Items
    for Exclusive Manufacture in Small Scale Sector
    Tax Concessions, Provision of Infrastructural
    Facilities like Developed Land, Sheds, Roads,
    Communication etc for Promotion of Enterprises
    in the Country etc.
  • This has helped in Speedy Economic
    Development in all the States in the Country to
    a great extent has minimized regional imbalances.
  • National Common Minimum Programme
    (NCMP) describes Small Scale Enterprises as the
    Most Employment Intensive Segment. At the
    beginning of the 10th Plan, (2002 2003), the
    Segment provided gainful employment to 24.9
    Million People in the Rural Urban Areas of the
    Country thro 10.5 Million Units, engaged in
    Manufacturing providing a Wide Range of Goods
    Services. If the Units in Khadi Village
    Industries are also taken into account, the
    Employment would rise to 332 Million. Thus this
    is rightly called as the segment which provides
    employment next only to Agriculture. The
    Contribution of Small Enterprises Segment to the
    Economic Development of the Country is very
    significant. Nearly 39 of the Gross
    Manufacturing Output 34 of the Exports of
    India arise from these Enterprises.

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  • Yet a large number of
    Entrepreneurs are facing lots of Challenges. In
    order to assist them to fully harness their
    potential by availing of the increasing
    opportunities generated by Trade Liberalization,
    it is necessary to not only build an enabling
    Policy Environment but also supplement the former
    with a specific set of measures to address the
    continuing challenges.
  • Therefore Ministry of Micro, Small
    Medium Enterprises, Govt of India has announced
    a package for Promoting such enterprises in Feb
    07 to provide full support in the Areas of
    Credit, Technological Up gradation, Marketing
    Infrastructural Up gradation in Major Industrial
    Infrastructure etc.

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Entrepreneurship Its Barriers.
  • The Slow pace of Growth of
    Entrepreneurship is mainly due to existence of a
    tangible set of Barriers prohibiting the Process
    of Entry into, Continuity in an eventful exit
    from a Business Venture of a Would be
    Entrepreneur if it is a function of forces that
    one may view as Barriers limiting Full Fledged
    Business Performance. These may be Entry
    Barriers, Survival Barriers, Exit Barriers.
  • Entry Barriers are those forces
    limiting access to identified business
    opportunities capitalization of these
    Opportunities. Survival Barriers are constraints
    on the conditions essential for the Small
    Business Entity. Exit Barriers are constraints
    limiting the termination of Small Industrial
    Ventures that have outlived their Business
    Viability or the Growth of such ventures to a
    different size category.

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Entry Barriers
  • Following is the Presentation of
    the Study on Entry Barriers to Entrepreneurship
    as perceived by Youth sponsored by NEDB,
    Ministry of SSI, Govt of India, Study was
    conducted in 2002, by Dr. Sunil Shukla, Dr.
    Dinesh Awasthi , Entrepreneurship Development
    Institute of India, Ahmedabad.
  • Following are its findings

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What keeps Youths away from Entrepreneurship ?
  • 1) No interest in Business / Distinct
    Preference for Service
  • Reasons
  • Job Offers secured income access to
    Power.
  • Satisfaction with Current Job.
  • Lack of Achievement Motivation.

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  • 2) Desire to wait for some more time
  • Reasons
  • To gain experience.
  • To arrange for financial resources.
  • To try for a Good Job First.
  • 3) Lack of Confidence in Business
  • Reasons
  • Lack of Knowledge of the Business
    opportunity.
  • Lack of Ability to take Risk.
  • Lack of Managerial Skill.
  • Lack of Knowledge of Procedure
    Formalities to establish Business.

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  • 4) Disapproval of Family / Friends
  • Reasons
  • No Risk bearing Capacity of the Family.
  • No affiliation to Business Community.
  • Family Pressure to earn money thro Job.
  • Reconsidering Business Career
  • 58.3 of those 80.8 who had no
    Business Plans were ready for Entrepreneurship,
    if helped for

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  • Finance.
  • Project Idea
  • Training for Business Management.
  • Critical Needs of those Planning for
    Entrepreneurship
  • Timely adequate Finance.
  • Knowledge Skill Training.
  • Encouragement by Family.

95
Major Recommendations for Overcoming
Entry Barriers
  • 1. The First requirement is to change the
    mindset.
  • 2. Entrepreneurship to be introduced in
    Education (It is heartening to note that VTU,
    Belgaum, has introduced Management
    Entrepreneurship as a Core Subject for V / VI
    Semester Engg. Students of all branches from the
    academic year 2008 2009.)
  • 3. Need for Resource Material
    Handbooks.
  • 4. Entrepreneurship Business
    Development Cell (EBDC) to be established on
    Campuses.
  • 5. Faculty Development Programmes on
    Entrepreneurship Development.
  • 6. Counseling Guidance Cells for VRS
    Employees.
  • 7. Fellowship / leave with Half Pay for
    Young Employees having feasible business plans.
  • 8. Special Incentives, Hassle free
    credit to be given to increase female
    participation in business.
  • 9. Industry Academic Linkage to be
    strengthened.

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EBDC on Campuses
  • NEDB to set up EBDCs on Campuses.
  • Functions
  • Organize Entrepreneurship Awareness Camps
    (EACs) , Workshops Entrepreneurship
    Development Programmes (EDPs).
  • Sensitize the Environment develop
    Network.
  • Conduct Potential Surveys to develop a
    Basket of Viable Business Opportunities.
  • Act as a Focal Point for Information
    Dissemination on Opportunities, Market,
    Technologies etc.
  • Conduct need based Research Studies.
  • Organize performance improvement growth
    programs for entrepreneurs to strengthen local
    entrepreneurial base.
  • Any other activity necessary for
    inculcating entrepreneurship in Stud
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