ROLE OF SUPPORT FUNCTIONS OF AN ENTREPRENEUR

Vinay Agnani - 08 703Anuj Choudhary – 08 7

Nupur Khanna – 08 733Sanjukta Mukherjee – 08

740Reemis Rodrigues -

08749

Operations

Finance

Research and development

Human resources

Marketing and sales

Administration and IT support

Customer services

The main functional areas

In a small business, key functions will be done by individuals

In a medium/large business, it will be done by individuals working

in functional areas or departments

• All functional areas must

link together to achieve

the overall aims and

objectives

• This means cooperation

and good

communications

Sales

Finance

Marketing

AdminIT

CS

Ops

R & DHR

Health and safety

Employee organizations

and unions

Training, development and

promotion

Working conditions

Recruitment, retention and dismissal

The main responsibilities of the human resources

function

Includes the legal rights and responsibilities of employer and employees

Concerned with money and future plans

Preparing accounts

example: invoices, management accounts,

financial accounts for shareholders and Inland

Revenue

Preparing wages and salaries

Obtaining capital and resources

example: money for expansion or to pay for

resources such as equipment and materials.

Cleaning and maintenance

Support for software applications, electronic communications and electronic transactions

Security

Health and safety

Clerical work, eg mail, record keeping

The role of administration and ICT function

Concerned with the main business activities

Obtains and converts resources of the business into

goods/services, i.e.

Buildings and land

Equipment

People

Materials

Both are concerned with customer needs

Sales Promotion

Market research

Activities include

Concerned with customer relationships

Activities include:

Providing information

Giving advice

Providing credit facilities

Delivering goods

Providing after-sales service

Concerned with developing new

goods/services and updating old ones

Activities include:

Technological developments

Scientific research

Design features

Performance of product

Relates to all functional areas:

Electronic communications (eg: email)

Data sharing (eg: databases)

Security systems (eg: virus protection)

External communications (eg: Internet)

Online support for customers (eg: order tracking)

Electronic transactions (eg: EFT)

No two businesses are the same!

Functions will vary because of:

Size and scale of business

Activities of business

Type(s) of customers

Needs of customers

Preferences of owner(s)

1. VIT

2. India Infoline

Background:

•Entrepreneur – Mr. Vishwas Deshpande

•Year – 1999

•Course – Engineering (Electronics, Computer & IT)

Stream Number of seats

Electronics 60

Computer 60

IT 60

Budget allocation for each activity ………………….. (plz include some other pts cudnt think)

Recruiting the employees

Inducting the employees

Orienting the employee

Streamlining the process of the organization

Setting the policies and guidelines

Deciding the pay and increment structure

Manpower planning

Promotional Strategies

Increasing the visibility of the college

Primary Activities : Providing education Lectures

Labs

Tutorials

Allied Activities : Examination cell

Placement cell

Re-creational cell (cultural events, sports, college magazine & trips)

Operations with university

Board of Governors

Academic Advisory Council

Systems for tracking Employee attendance

Working hours

Intranet & internet

Security Vidyalankar ERP

Founder- Nirmal Jain, CA & Cost accountant, IIM grad

His work experience

Philosophy- Opportunity is about putting 2+2 together

In 1991, financial services sector became more dynamic

CONT…

In 1994 joined hands with Motilal Oswal & Ramdev Agarwal to set up “Inquire”

Year & Half later he started his own research company “Probity research & Services Pvt Ltd”

In 99, as internet became very popular, he uploaded his research on the net(India Infoline)

CONT…

Changed business model from info services to transaction services

Building an exclusive internet based trading platform

Raised money from angel investors, VC’s, & friends

In 2003, started the trading terminal

FinanceHRTechnologyR&D

It’s a game of probabilities. You have to be sporting.. However

good you may be, you may get out for a duck

What you do” is not so important, “how you do it” is what matters