The Entrepreneurial Perspective

8/2/2019 The Entrepreneurial Perspective

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THE ENTREPRENEURIALTHE ENTREPRENEURIAL

PERSPECTIVEPERSPECTIVE

Subject : Entrepreneurship Management

Presented By


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Concept of EntrepreneurConcept of Entrepreneur

Definition:

o Someone who

Owns a business enterprise

Manages

Takes initiative

Bares risks

Of course with generation of profit as a motive

Willing to deal with uncertainty


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Concept of EntrepreneurConcept of Entrepreneur


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EntrepreneurshipEntrepreneurship

Definition:

o Act of being an entrepreneur

o A process through which individuals identify opportunities to serve

the need, allocate resources, and create value. This creation of value

is often through the identification of unmet needs or through theidentification of opportunities for change.

o The process of bringing together creative and innovative ideas and

actions with the management and organizational skills necessary to

mobilize the appropriate people, money, and operating resources to

meet an identifiable need and create wealth in the process


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EnterpriseEnterprise

Definition :

o An undertaking, especially one of some scope, complication, and risk.

o A business organization.

o Industrious, systematic activity, especially when directed toward

profito Activity Centre


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Advantages of EntrepreneurshipAdvantages of Entrepreneurship

Ownership

Authority

Independence Be your own boss

Income potential

Do what you love

Generation of employment


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Disadvantages of EntrepreneurshipDisadvantages of Entrepreneurship

High risk factor

Immense pressure builds up

No fixed income

Beyond 9 to 5 job


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Nature & Development of EntrepreneurshipNature & Development of Entrepreneurship


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Personality ofPersonality of Entrepreneurs/Entrepreneurs/IntrapreneursIntrapreneurs


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Innovation & EntrepreneurshipInnovation & Entrepreneurship

Innovation is the initial commercialization of invention byproducing and selling a new product, service, or process

o Product innovation

o Service innovation

o Process innovation

Root

o Need spotting

o Solution spotting

o Mental inventions

o Random eventso Market research

o Trend following

o Demographic changes


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Risk associated with innovationRisk associated with innovation


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Women & EntrepreneurshipWomen & Entrepreneurship


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Categories of Women EntrepreneurCategories of Women Entrepreneur


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Constraints faced by Women EntrepreneurConstraints faced by Women Entrepreneur

Access to

o Training

o Finance

Collateral

Lack of bank historyo Markets

Prejudice against women

Sexual Harassment

o Infrastructure

Bias

Fewer or no contacts in the bureaucracy

o Technology


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Schemes &Schemes & ProgrammesProgrammes for Women Entrepreneurfor Women Entrepreneur

Nehru Rojgar Yojna

Prime Minister Rojgar Yojna

TRYSEM(Training of Rural Youth for Self Employment)

DWACRA(Development of Women and Children in Rural Areas)

Mahila Samriddhi Yojna (MSY)

- Source ( ILO )


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StatisticsStatistics

For the period 1990-2000


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StatisticsStatistics

For the period 2001-2008


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Entrepreneurship in RuralEntrepreneurship in Rural AreasAreas

Sr. No. Constraints Development Inputs

1. Low self-image and confidenceMotivational inputs,unfreezing and experience

sharing by successful local entrepreneurs

2. No faith on others includes friends Group building experiences

3. No exposure to industry/business Field visit to factories and big markets

4.

Who to contact for starting a venture, what formalities and procedures

are to be followed? Information inputs on procedures and formalities

5.How to know whether the identified business is a viable and sound

proposition?Opportunity identification and guidance

6.How to know whether the identified business is a viable and sound

proposition?Market survey, project report preparation

7. How does one carry out bank operations?Training in simple banking procedures like filing up

deposit and withdrawal slip etc.

8. How to manage the business? Basic management orientation through simulationexercises

9. How to read and write accounts?Functional and numerical literacy. Simple accounting in

terms of writing income and expenditure

10. Almost no technical skills Technical training (on-the-job training)


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Types of Rural EntrepreneurTypes of Rural Entrepreneur

Individual Entrepreneurship

o It is basically called proprietary i.e. single ownership of the enterprise.

Group Entrepreneurship

o It mainly covers partnership, private limited company and public

limited company.

Cluster Formation

o It covers NGOs*, VOs*, CBOs*, SHGs* and even networking of these

groups. These also cover formal and non-formal association of a

group of individuals on the basis of caste, occupation, income, etc.

Cooperatives

o It is an autonomous association of persons united voluntarily for a

common objective.


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OrganisationsOrganisations who possess info. on business opportunitieswho possess info. on business opportunities

a) District Industry Centres (DIC) - (one in each district)b) Technical Consultancy Organizations (TCO) - (one each in most States)

c) Centres for Entrepreneurship Development (one each in many States)

d) Small Industry Service Institutes (SISI) (one in each of many large cities)

e) Lead Bank (one in each district)

f) Industrial Extension Bureaus (these exist in several States) and areknown as INDEXTB, Udyog Mitra, Udyog Sahay and so on).

g) National Industrial Development Corporation (NIDC), New Delhi

h) Khadi and Village Industries Commission (KVIC)

i) Commissioner of Cottage Industries (one in each State)j) Entrepreneurship Development Institute of India (EDI), Ahmedabad

k) National Institute of Entrepreneurship and Small Business Development(NIESBUD), New Delhi


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Requirement for success in entrepreneurship at rural levelRequirement for success in entrepreneurship at rural level

Infrastructure

o Railways

o Roads

o Power

o Telecommunication

Financial Schemes


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You may be disappointed if you fail,but you are doomed if you don't try.

.is rightly said.


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Documents

The Entrepreneurial Perspective