Professional Documents
Culture Documents
College of Engineering Bhubaneswar (Ceb)
College of Engineering Bhubaneswar (Ceb)
www.coeb.org
Project Guide
Er. M. M.
Mohapatra
Er. Samir Mohanty
Head of Department
Mechanical Engineering
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Project Guide
Er. M. M.
Mohapatra
Er. Samir Mohanty
Head of Department
Mechanical Engineering
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During
the
final
semester
of
B.TECH
in
MECHANICAL
================================
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Bhubaneswar
of
the
Mechanical
Engineering
********************************
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TABLE
OF
CONTENTS
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WHAT IS ENTREPRENEURSHIP
Entrepreneurship is the practice of starting new organizations or
revitalizing mature organizations, particularly new businesses generally in
response to identified opportunities. Entrepreneurship is often a difficult
undertaking, as a vast majority of new businesses fail. Entrepreneurial
activities are substantially different depending on the type of organization
that is being started. Entrepreneurship ranges in scale from solo projects
(even involving the entrepreneur only part-time) to major undertakings
creating many job opportunities. Many "high-profile" entrepreneurial
ventures seek venture capital or angel funding in order to raise capital to
build the business. Angel investors generally seek returns of 20-30% and
more extensive involvement in the business. Many kinds of organizations
now exist to support would-be entrepreneurs, including specialized
government agencies, business incubators, science parks, and some NGOs.
Entrepreneurship in a broader sense can be described as a process of action
an entrepreneur undertakes to establish his enterprise. It is a creative and
innovative response to the environment. Entrepreneurship is the inclination
(attitude) of mind to take calculated risk with confidence to a
predetermined business or individual objective. Entrepreneurship means
the function of creating something new, organizing and co-ordinating,
undertaking risk and handling economic uncertainty.
WHO IS AN ENTREPRENEUR ?
An entrepreneur is a person who has possession over a new enterprise or
venture and assumes full accountability for the inherent risks and the
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outcomes. The term is a loanword from French and was first defined by the
Irish economist Richard Cantillon. A female entrepreneur is sometimes
known as an entrepreneuse. However, with the word "entrepreneuse" being
the French feminine form of entrepreneur, its usage in English in
delineating sexes detracts from the meaning of the word "Entrepreneur."
Entrepreneur in English is a term applied to the type of personality who is
willing to take upon her self or himself a new venture or enterprise and
accepts full responsibility for the outcome.
The modern myths about entrepreneurs include the idea that they assume
the risks involved to undertake a business venture, but that interpretation
now appears to be based on a false translation of Cantillon's and Say's
ideas. The research data indicate that successful entrepreneurs are actually
risk averse. They are successful because their passion for an outcome leads
them to organize available resources in new and more valuable ways. In
doing so, they are said to efficiently and effectively use the factors of
production. Those factors are now deemed to include at least the following
elements: land (natural resources), labour (human input into production
using available resources), capital (any type of equipment used in
production i.e. machinery), intelligence and knowledge, and creativity. A
person who can efficiently manage these factors in pursuit of a real
opportunity to add value in the long-run, may expand (future prospects of
larger firms and businesses) and become successful.
Entrepreneurship is often difficult and tricky, as many new ventures fail.
Entrepreneur is often synonymous with founder. Most commonly, the term
entrepreneur applies to someone who creates value by offering a product
or service. Entrepreneurs often have strong beliefs about a market
opportunity and organize their resources effectively to accomplish an
outcome that changes existing interactions.
Some observers see them as being willing to accept a high level of personal,
professional or financial risk to pursue that opportunity, but the emerging
evidence indicates they are more passionate experts than gamblers.
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NEED OF AN ENTREPRENEUR
Entrepreneurs play an important role in developing and contributing to the
economy of a nation. It is all the more in a developing world where are
ample opportunities for innovations to exploit the available resources and
initiate entrepreneurial ventures. But the emergence of entrepreneurship in
all countries and in all parts of any country is not usually even. Commonly
we see more entrepreneurs in comparatively more developed areas.
Another paradox exists in terms of increasing number of unemployed
population, seeking wage earners career and unaware of the wide
opportunities for entrepreneurial career. This is, by and large, because of
lack of education about entrepreneurship.
The business entrepreneur, the archetypal enterprising person, has become
the focus of interest in many nations as an instigator of social and economic
change. The search is on for more and better ways of creating enterprising
people and specially for developing entrepreneurs. For this, the role of
education and training is typically very important. Education is a strong
influencing media that sets values, develops attitudes and motivation and
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for
enterprise
which
is
aimed
at
entrepreneurship
TYPES OF ENTREPRENEUR
I have made the point that the one trait common to all entrepreneurial
hearts is a drive toward independence, and I added that varying levels of
that independent spirit serve to create a scale on which we could find and
define different types of entrepreneurs. Id like to expand on those
thoughts.
The notion of differing types of entrepreneurs is only important if one is
in some way connected to the world of self-employment. And frankly,
unless a person has a direct use for this type of information, the subject is
boring. But guess what? At least 25% of Americans are plugged directly
into the subject as small business owners, employees of those businesses, or
family members of entrepreneurs. As stated before, using a broad brush to
define the entrepreneurial personality will not work for serious
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responsibilities where risk and reputation are part of the assignment. What
kinds of assignments would those be? Heading up a take-over or merger.
Implementation of a new business development plan.
Finally, the Practical Visionary (?) with the question mark following the
term grabs for the greatest measure of independence. This person follows
their heart and their dream with great gusto, but the question mark is
attached because until the vision is proven, its practical value and
acceptance by the marketplace remains a question.
Psychology
Human Capital
Life Course Stage
Environment
Social Networks (Gender)
Ethnic
Resources
Rationalized Environments
Institutional Theory in Sociology
Focuses on cognitive, normative, and regulatory structures
that provide meaning to social behavior
Main Thesis
Environments in which organizations must operate have
become rationalized, i.e., organizations are subject to prescribed rules
and ideologies regarding proper organizational practices or forms;
Rationalization leads to a world society, an orderly society
Loci of Rationalization
Elite Organizations
Provide models for successful organizing
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Nation-State
Constructs laws and policies for the public good
Sciences and Professions
Knowledge system as demystifying nature; truths about how the social
system works
ones.
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high temperature to eliminate any residual wax and to induce chemical and
physical change in the refractory that will ensure maximum strength and
stability combined with minimal reaction between the mould surface and
the liquid metal to be poured into the investment casting for lost wax type.
The majority of investment casting foundries has air melting facilities and
cast a wide range of materials. Steel casting furnaces tend to be of the roll
over or tilt induction melting type, whilst for many of the more advanced
nickel super alloys, vacuum melting / casting is essential. In the case of
aluminum investment castings, melting may be by gas or electricity, while
various methods of pouring the molten metal are in use (e.g. it may be
gravity vacuum or pressure assisted) These are the methods of pouring.
When the mould has cooled sufficiently, the mould material is removed to
leave the castings which are then separated from the running system.
Various postcasting operations may be carried out to meet customer
requirements.
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Process Characteristics
FREEDOM OF DESIGN
HIGH DIMENSIONAL
ACCURACY
HIGH DIMENSIONAL
CONSISTENCY
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Most industries requiring castings are catered for but investment castings
are admirably suited for high technology, high volume orders especially in
respect of the aeronautical industry. The petroleum, chemical, electronic,
defence, prosthetic and automobile industries are also large users of
castings produced by the process.
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Tool
Cost
Unit
Cost
Metal
Options
Design
Freedom
Volume
Capabil.
Draft
Req'd
Tolerance
Control
Size
Range
Surface
Finish
Wall
Min.
Normal
Delivery
Investment
Cast
Avg.
High
Most
Most
All
No
Avg.
Avg.
Avg.
Small*
Avg.
Die Cast
High
Low
Few
Least
High
Yes
Avg.
Avg.
Avg.
Avg.
Avg.
Forging
High
Avg.
Avg.
Least
High
Yes
Poor
Avg.
Poor
Large
Long
Permanent
Mold
Avg.
Avg.
Avg.
Avg.
All
Yes
Avg.
Avg.
Avg.
Large
Avg.
Plaster
Mold
Low
High
Few
Avg.
Low
Yes
Avg.
Avg.
Avg.
Large
Short
Powder
Metal
Avg.
Low
Avg.
Least
High
No
Best
Small
Best
Small
Avg.
Resin Shell
Mold
Avg.
Avg.
Avg.
Avg.
All
Yes
Avg.
Avg.
Poor
Large
Avg.
Sand Cast
Low
Avg.
Most
Avg.
All
Yes
Poor
Large
Poor
Large
Short
Process
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Rights of Land
We are on the process of submitting a memorandum for acquiring 30,000
sq. meters of land at Adityapur Industrial Area Development (AIDA),
Jamshedpur. This will be completed after the state government sanctions
us a plot to set up our manufacturing unit.
ANNEXURE- 2
Implementation Schedule
The major activities in the implementation of the project have been listed
and the average time for implementation of the project is estimated at 12
months:
Sl.No.
Name of Activity
Period in
Months
(Estimated)
1.
2.
3.
4.
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(b) Procurement
d) Installation/Erection of machinery/Test
2
Equipment
5.
6.
Recruitment of Technical
Personnel etc.
7.
Trial production
11
8.
Commercial production
12
Application Areas
Idol
Ornaments
Jewellery
Blade of Turbine
Blade of Jet
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Fixed cost
Cost of equipments required
Items
Numbers
Cost/item (in
Rs.)
Shovel
50
500
25,000
Riddle
50
500
25,000
Floor rammer
50
1000
50,000
Bench rammer
50
800
40,000
Swab
150
750
1,12,500
Gate cutter
150
150
22,500
Inside square
500
250
1,25,000
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Box flask
50
2000
1,00,000
Trowel
50
5000
2,50,000
Lifter
150
115
17,250
Sand cutter
150
150
22,500
Furnace
1,000,000
10,00,000
Moulding flask
500
5000
25,00,000
Land
400
4,00,00,000
Cost of const. of
line
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35,00,000
Variable Cost
Items
Labour Cost
Numbers
50
5,00,000
Electricity
7,00,000
Water Bill
50,000
Stationary
25,000
Sand
50 TR
Wax
1 TR
1500/TR
75,000
8,00,000
Misc.
2,00,000
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where total revenue received equals the total costs associated with the sale
of the product (TR=TC) Break-even point is typically calculated in order for
businesses to determine if it would be profitable to sell a proposed product,
as opposed to attempting to modify an existing product instead so it can be
made lucrative. Break-Even Analysis can also be used to analyze the
potential profitability of an expenditure in a sales-based business.
= Rs.50, 0000
=Fixed Cost+Variable Cost
=Rs5, 01, 39,750
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3. www.techno-preneur.com
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