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Entrepreneurship plays a vital role in the economic development of a country. After liberalisation and globalisation, the role of entrepreneur has reduced. This calls for organisation of EDP¶s for the development and growth of entrepreneurs.
Fulfilling his entrepreneurial motives. Motivating Arranging sources of help and provide support systems and procedures To provide training assistance. Acquiring skills & capabilities. Analyse the environmental setup of small scale business and industry. .EDPs A Programme designed to help a prospective Entrepreneur would achieve the following objectives : Identify abilities.
Make him learn compliance with law. . Prepare him to face the uncertainities involved in running a business. Develop a broad vision about the business. Develop passion for integrity and honesty.
EDP¶s are based on this belief that they can inculcate relevant attributes ignite the dormant skills and talents.Need and Relevance of EDP¶s It is now believed that Entrepreneurs are made not born. They tend to change the personality of the participants. . change the outlook and convert the ideas into action through the systematic and organised training.
.Role & Contribution of EDP¶s in India Great role in increasing the supply of new entrepreneurs to accelerate the process of industrialisation. Elimination of Unemployment & Poverty Balanced Regional Development Utilisation of local resources Large scale employment can reduce unrest and violence amongst the youth as they would be gainfully employed.
. techniques and arrangement of Infrastructure. Arranging Guest Speakers after finalising training syllabus.Phases of EDP¶s Pre-training phase Identification & Selection of Entrepreneurs (written test. personal interviews) Designing of course curriculum Selection of necessary tools.
e motivation. Is the person mentally prepared to undertake risk and uncertainity? Does the person have the right attitude ? What kind of entrepreneurial traits the trainee lacks the most? Whether the trainee possesses the requisite knowledge of technology & resources.Training Phase To develop ³need for achievement´ in employees i. .
This facilitates in understanding buying and consumer behavior. preparation of project report. Phase of guidance and monitoring Practical exposure. Phase of guidance and monitoring .
.e follow up meeting of the officials of EDP with the participants. Are there any drawbacks. i. To see how far the objectives have been achieved.Post training phase Ultimate objective is to prepare the participants to start their own enterprise. Suggesting guidelines for framing future policies to improve performance. This is basically the follow up phase.
. Help in bringing the trainees in touch with financial institutions. Assistance in selection location of unit.
Procedures for getting plot. Few problems: Faced difficulties in getting finance. To help expedite the process of borrowing from the Institutions. power connection time consuming .Evaluation of EDP To review the first three phases.
Role of Govt in organising EDP¶s In 1950¶s the Govt realised the importance of promoting small industries. . It set up at the National Level: Small Industries Development Corporation (SIDC) Khadi and Village Industries Commission (KVIC) for prodn and mktg of Khadi & handicraft items.
National Small Scale Industrial Development Corporation (NSSIDC) National Bank of Agriculture and Rural Development (NABARD) Small Industries Development Bank of India( SIDBI) National Institute of Small Industry Extension Training (NISIET) . Industrial Finance Corporation of India( IFCI).
State Level Small Industries Service Institutes (SISI) District Industrial Centres (DIC) State Financial Corporations (SFC) State Small Industries Corporations (SSIC) State Industries Corporations (SIC) .
Increases efficiency.Importance of Entrepreneurial Training It¶s an integral input for management development. abilities. It makes sure the availability of skilled labour at all levels of mgmt. speed and performance. Minimises wastage. . fatigues and defects. accidents. Improves good relations and team spirit.
skills and capabilities of an individual employee tp perform a certain job are enhanced.EDP Training-Process by which aptitudes . .Nature and direction of change induced in the employee through the process of education and training. Development.
.Entrepreneurial Training Objectives To impart knowledge about Industry. techniques and information. Impart customer education Impart knowledge of mktg of goods. production and methods Build necessary skills Impart latest concept .
Principles or Essentials of ET Presence of the right Atmosphere. Qualified and trained instructors. Helping them develop necessary skills. Long duration Theoretical as well as practical training. .
market surveys and research. inventory control. labour laws and taxation. Scientific managerial techniques. Various aspects of management: finance. prodn. . Information on Govt Policies and Programmes of assistance and support systems.EDT SHOULD COVER Conducting studies. mktg.
Also known as Corporate Entrepreneurship.Concept of Intrapreneurship It¶s a process by which new ventures are born within the confines of an existing corporation. Innovative employees disrupt the organisation in constructive ways to instigate new products and services. .
Creating something of value either by redefining the company¶s current product or service or by developing a new market . Shiv Nadar and friends left DCM to start HCL.creating new businesses. Intrapreneurial activities 1)Corporate Venturing.
risk taking. They are leaders by innovation rather than just following their competitors.Proactiveness. 3).Experimenting.Self renewal. making use of aggressive opportunities. . 4).Transforming an orgn by renewing the key ideas that form the basis of an orgn. 2).Organisational Innovation.technological innovation affecting a product or service.
.Essence of Intrapreneurship To encourage top executives to become entrepreneurs within an organisation rather than establish themselves independently.
Intrapreneur vs Traditional Managers and Entrepreneurs Motivation. . money and achievement. promotion. Entrepreneur.Independence. power Intrapreneur.Independence and career advancement. better facilities.Traditional Mgrs ±Corporate Rewards.
more of supervision rather than self involvement.Delegates.Mgrs .Risk Profile Manager. Intrapreneur / Entrepreneur.cautious Intrapreneur / Entrepreneur-Moderate risk taker Activity.Direct Involvement .
Long term .Time Perspective Manager.short term Intrapreneur ± Medium term Entrepreneur.
Intrapreneur .Able to get others to agree Entrepreneur ± Follows dreams with the power of decision making. .In accordance with senior managers.Decision Making Managers.