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SYLLABUS
Unit I
Entrepreneurship: Concept and Definitions; Entrepreneurship and Economic Development;
Classification and Types of Entrepreneurs; Entrepreneurial Competencies; Factor Affecting
Entrepreneurial Growth Economic, Non-Economic Factors; EDP Programmes; Entrepreneurial
Training; Traits/ Qualities of an Entrepreneurs; Entrepreneur; Manager Vs. Entrepreneur.
(14 Hours)
Unit II
Opportunity / Identification and Product Selection: Entrepreneurial Opportunity Search and
Identification; Criteria to Select a Product; Conducting Feasibility Studies; Project Finalization; Sources
of Information. (14 Hours)
Unit III
Small Enterprises and Enterprise Launching Formalities : Definition of Small Scale; Rationale;
Objective; Scope; Role of SME in Economic Development of India; SME; Registration; NOC from
Pollution Board; Machinery and Equipment Selection; Project Report Preparation; Specimen of Project
Report; Project Planning and Scheduling using Networking Techniques of PERT / CPM; Methods of
Project Appraisal.
(14 Hours)
Unit IV
Role of Support Institutions and Management of Small Business : Director of Industries; DIC;
SIDO; SIDBI; Small Industries Development Corporation (SIDC); SISI; NSIC; NISBUED; State
Financial Corporation SFC; Marketing Management; Production Management; Finance Management;
Human Resource Management; Export Marketing; Case Studies-At least 4 (four) in whole course.
(14 Hours)
UNIT I
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ENTREPRENEURSHIP: CONCEPT
AND DEFINITIONS
ENTREPRENEURSHIP: CONCEPT
AND DEFINITIONS
ENTREPRENEURSHIP AND
ECONOMIC DEVELOPMENT
ENTREPRENEURSHIP AND
ECONOMIC DEVELOPMENT
ENTREPRENEURSHIP AND
ECONOMIC DEVELOPMENT
ENTREPRENEURSHIP AND
ECONOMIC DEVELOPMENT
ENTREPRENEURSHIP AND
ECONOMIC DEVELOPMENT
In a nut shell:
Entrepreneur sets up business for transformation of resources
into products and services and meet the needs of the people.
Business activity involves production- manufacturing,
retailing, mining and services- create employment
opportunities.
Business creates wealth. Wealth results in a countrys
economic growth.
Entrepreneurship, especially among women in developing
countries seem to offer an improvement in the standard of
living as well as a path out of poverty.
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Early Starters
Suhas Gopinath started his company Gopals Inc. at the age of 14, in
USA as Indian laws do not permit a minor to run a company.
b.
Experienced
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c.
Mature
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Very high confidence and desire to do things in a way that may not
be totally acceptable to their earstwhile employers.
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Business Entrepreneurs :
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b.
Trading Entrepreneur
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c.
Industrial Entrepreneur
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d.
Corporate Entrepreneur
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e.
Agricultural entrepreneur
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Technical Entrepreneur
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b.
Non-technical Entrepreneur
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c.
Professional Entrepreneur
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Pure Entrepreneur
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b.
Induced Entrepreneur
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c.
Motivated Entrepreneur
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d.
Spontaneous Entrepreneurs
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Growth Entrepreneur
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b.
Super-Growth Entrepreneur
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First-generation Entrepreneur
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b.
Modern Entrepreneur
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One who undertakes those ventures which go well along with changing
demand and suit in the current marketing needs.
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c.
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a.
Women entrepreneurs
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Kiran Majumdar Shaw founded Biocon, which is now a leading Biotech firm in
India.
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c.
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8. Other Categories:
a.
Innovative Entrepreneurs
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b.
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c.
Fabian Entrepreneurs
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d.
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e.
Aspiring Entrepreneurs
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Have dream of starting a business, yet not made the leap from their current
employment into the uncertainty of a startup.
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Lifestyle Entrepreneurs
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g.
Mompreneurs
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Homemaker entrepreneur
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)
)
i.
Person within large corporations who takes direct resp -onsibility for turning
an idea into profitable finished products through innovations & assertive risk
taking
Entrepreneurs - intra+entrepreneur
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ENTREPRENEURIAL
COMPETENCIES
An entrepreneurial competence is an underlying characteristic of a
person, which results in effective and /or superior performance in a
business venture.
It is an underlying characteristics of a person, in that it may be motive,
traits, skills ,aspect of ones self-image, a body of knowledge, set of skills
and cluster of appropriate motives/ traits that an individual possess to
perform in his business.
Personal Entrepreneurial Competencies - The EMPRETEC Model
ENTREPRENEURIAL
COMPETENCIES
Achievement Cluster
1.Opportunity Seeking and Initiative
-Does things before asked or forced to by events
-Acts to extend the business into new areas, products or services
-Seizes unusual opportunities to start a new business, obtain
financing, equipment, land work space or assistance
2.Risk Taking
-Deliberately calculates risks and evaluates alternatives
-Takes action to reduce risks or control outcomes
-Places self in situations involving a challenge or moderate risk
3.Demand for Efficiency and Quality
-Finds ways to do things better, faster, or cheaper
-Acts to do things that meet or exceed standards of excellence
-Develops or uses procedures to ensure work is completed on time
or that work meets agreed upon standards of quality
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ENTREPRENEURIAL
COMPETENCIES
4.Persistence
-Takes action in the face of a significant obstacle
-Takes repeated actions or switches to an alternative strategy to
meet a challenge or overcome an obstacle
-Takes personal responsibility for the performance necessary to
achieve goals and objectives
5.Commitment to the Work Contract
-Makes a personal sacrifice or expends extraordinary effort to
complete a job
-Pitches in with workers or in their place to get a job done
-Strives to keep customers satisfied and places long term good will
over short term gain
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ENTREPRENEURIAL
COMPETENCIES
Planning Cluster
6.Information Seeking
-Personally seeks information from clients, suppliers or competitors
-Does personal research on how to provide a product or service
-Consults experts for business or technical advice
7.Goal setting
-Sets goals and objectives that are personally meaningful and
challenging
-Articulates clear and specific long range goals
-Sets measurable short term objectives
8.Systematic Planning and Monitoring
-Plans by breaking large tasks down into time-constrained sub-tasks
-Revises plans in light of feedback on performance or changing
circumstances
-Keeps financial records and uses them to make business decisions
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ENTREPRENEURIAL
COMPETENCIES
Power Cluster
9.Persuasion and Networking
-Uses deliberate strategies to influence or persuade others
-Uses key people as agents to accomplish own objectives
-Acts to develop and maintain business contracts
10.Independence and self-confidence
-Seeks autonomy from the rules or control of others
-Sticks with own judgement in the face of opposition or early lack
of success
-Expresses confidence in own ability to complete a difficult task or
meet a challenge
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FACTORS AFFECTING
ENTREPRENEURIAL GROWTH
1. ECONOMIC FACTORS
a) Lack of adequate overheadfacilities:
Profitable innovations require basic facilities like transportation,
communication, power supply etc. They reduce cost ofproduction and
increase profit.
b) Non availability of capital
Inventions are capital oriented. In less developed countries mostcapital
equipment have to be imported which involves foreign exchange which
acts asa difficult problem.
c) Great risk
Risk is high in case of less developed countries as there is lack of reliable
information, markets for good and services is small etc.
d) Non availability of labor and skills
Though there is abundant labor supply there isgenerally scarcity of skills
at all levels.
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FACTORS AFFECTING
ENTREPRENEURIAL GROWTH
2. SOCIAL FACTORS
A society that is rational indecision making would be favorable for
decision making. Education, research and training is given
lessimportance in less developed countries therefore there is very little
verticalmobility of labor.
3. CULTURAL FACTORS
Religious, social and cultural factors also influence the individual taking
up an entrepreneurial career, in some countries there is religious and
culturalbelief that high profit is unethical. This type of belief inhibits
growth ofentrepreneurship.
4. PERSONALITY FACTORS
In less developed countries the entrepreneur islooked upon with
suspicion. Public opinion in the less developed nations sees in
theentrepreneur only a profit maker and exploited.
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FACTORS AFFECTING
ENTREPRENEURIAL GROWTH
5. MOTIVATING FACTORS
Motivation is the act of stimulating someone oroneself to get a desired
course ofaction, to push the right button to getthe desired results. Some
of these are:
1.Educationbackground
2.Occupationalexperience
3.Familybackground
4.Desire to work independently in manufacturing line
5.Assistancefromfinancialinstitution
6.Availabilityof technology
7.Other factors
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ENTREPRENEURSHIP
DEVELOPMENT PROGRAMMES
Since 1950, a substantial volume of study has gone into
the facets of entrepreneur development in India.
It is possible to identify the individuals in all
communities with entrepreneurial talent, to motivate
and train them through properly organized
programmes.
The EDP thus became a new concept for harnessing the
vast untapped human resources.
It strikes a welcome note in respect of change in
perception and in recognition of critical role the
entrepreneurs play in industrial development by
creating potential avenues for self development.
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ENTREPRENEURSHIP
DEVELOPMENT PROGRAMMES
Entrepreneurship Development Program covers the
entire venture creation process, from idea generation
to building viable global businesses, with special
emphasis on the nurturing roles of corporations,
universities, governments and foundations.
Using entrepreneurial culture as a model, participants
learn what they need to know in order to develop ideas
into successful businesses and to increase
entrepreneurial opportunities in their corporations,
institutions and regions.
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ENTREPRENEURSHIP
DEVELOPMENT PROGRAMMES
Features Of EDP:
Identification and careful selection of entrepreneurs
for training
Developing the entrepreneurial capabilities of the
trainee
Equipping the trainee with basic managerial
understanding
Helping him/her to secure necessary financial
infrastructural and related assistance
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ENTREPRENEURSHIP
DEVELOPMENT PROGRAMMES
Objectives Of EDP:
To identify the potential entrepreneurs
To develop necessary knowledge and skills among the
participants
To understand the process and procedure of setting
up of small business
To train the entrepreneurs to entrepreneurs to
understand environmental threats and opportunities
To provide help in identification and formulation of
viable projects
To impart training in managerial understanding and
skills
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ENTREPRENEURSHIP
DEVELOPMENT PROGRAMMES
Objectives Of EDP:
To provide post training assistance and monitoring
facilities
Relevance of EDP:
For rapid industrial development
To remove or reduce regional industrial imbalance
A vehicle for social economic revolution
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ENTREPRENEURIAL TRAINING
Peter F. Drucker (1985):
The entrepreneurial mystique? Its not magic. Its
not mysterious, and it has nothing to do with the
genes
Its a discipline
And, like any discipline, it can be learned
Objectives:
To provide factual information
To give good examples
To provide policy recommendations
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ENTREPRENEURIAL TRAINING
Characteristics of training of Entrepreneurs
Entrepreneurial:
Training in, learning
Personal competences
Flexible, adaptable
Student oriented
Group interaction
Clash room, diversity
Coaching
Project, across disciplines
Close to business
Action oriented
Traditional:
(Education about)
(Qualifications in disciplines)
(Fixed study plan)
(Teacher oriented)
(Class)
(Classroom)
(Lecturing)
(Topic, disciplines)
(Close to research, academia)
(Study, theory oriented)
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TRAITS/QUALITIES OF AN
ENTREPRENEUR
John Hornday of Bobson College has developed a composite list of
entrepreneurial traits:
1.
2.
3.
4.
5.
Knowledge of markets
6.
7.
Independent mindedness
8.
Versatile knowledge
9.
10.
11.
Dynamic leadership
12.
Response to suggestions
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TRAITS/QUALITIES OF AN
ENTREPRENEUR
John Hornday of Bobson College has developed a composite list of
entrepreneurial traits:
13. Take initiatives
14. Resourceful and persevering
15. Perceptive and foresight
16. Response to criticism
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