ENTREPRENEURSHIP

QUESTIONS ON ENTREPRENEURSHIP 1} Syllabus of entrepreneurship in detail and a reliable reference book? 2} Highlighting schemes for entrepreneurs? 3} Explanation of important concepts? 4} How to approach the question paper? 5} Tips on solving the case study? 6} As a potential Entrepreneur how would you construct a business plan to satisfy your banker? 7} Is ancillarisation only hope for small businesses in India after Globalisation? 8}Reverse Migration of labour can be achieved through entrepreneurship. How? 9} What are current trends in entrepreneurship? 10} How to manage time while writing the question paper? 11} What is the weightage per chapter? 12} Important topics for entrepreneurship?

Characteristics of Entrepreneurs
Desire for responsibility Preference for moderate risk Confidence in their ability to succeed Desire for immediate feedback High level of energy Future orientation Skilled at organizing Value achievement over money

What is an Entrepreneur?
One who creates a new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying opportunities and assembling the necessary resources to capitalize on them.

Common Themes in Definitions of Entrepreneurship

Process Uniqueness The Entrepreneur

Growth

Defining Entrepreneurship

Innovation

Profit or Nonprofit

Creating Value

Organization Creation

Characteristics of Entrepreneurs
Desire for responsibility Preference for moderate risk Confidence in their ability to succeed Desire for immediate feedback High level of energy Future orientation Skilled at organizing Value achievement over money

Rewards of Being an Entrepreneur

t High degree of independence freedom from constraints t Get to use a variety of skills and talents t Freedom to make decisions t Accountable to only yourself t Opportunity to tackle challenges t Feeling of achievement and pride t Potential for greater financial rewards

Entrepreneurs as heroes Entrepreneurial education Demographic and economic factors Shift to a service economy Technological advancements Independent lifestyles E-Commerce and the World Wide Web International opportunities

Feeding the Entrepreneurial Fire

Challenges of Being an Entrepreneur

t Must be comfortable with change and uncertainty t Must make a bewildering number of decisions t May face tough economic choices t Must be comfortable with taking risks t Need many different skills and talents t Must be comfortable with the potential for failure

The Cultural Diversity of Entrepreneurship

Young entrepreneurs Women Minority-owned enterprises Immigrant entrepreneurs Part-time entrepreneurs Home-based businesses Family businesses Corpreneurs Corporate castoffs Corporate dropouts

Mistakes of Entrepreneurship
Management incompetence Lack of experience Poor financial control Failure to develop a strategic plan Uncontrolled growth Poor location Improper inventory control Incorrect pricing Inability to make the entrepreneurial transition

BUSINESS PLAN
EXECUTIVE SUMMARY GENERAL INFORMATION OF BUSINESS PROJECT DESCRIPTION THE MARKET AND COMPETITORS THE MERKET PLAN CAPITAL COST AND SOURCES OF FINANCE THE OPERATION PLAN BUSINESS BENEFITS TO THE COMMUNITY

GLOBAL ENTREPRENEUR
POLITICAL ANALYSIS
POLITICAL STABILITY MILITARY INVATION LEGAL FRAMEWORK IPR TRADE REGULATIONS & TARRIFS TAXATION INDUSTRIAL SAFETY WAGE LEGISLATION PRICING REGULATIONS

TECHNOLOGICAL ANALYSIS RECENT TECHNOLOGICAL DEVELOPMENTS IMPACT ON COST STRUCTURE IMPACT ON VALUE CHAIN STRUCTURE RATE OF TECHNOLOGICAL DIFFUSION

GLOBAL ENTREPRENEUR
SOCIAL ANALYSIS
DEMOGRAPHICS CLASS STRUCTURE EDUCATION CULTURE ENTREPRENEURIAL SPIRIT ATTITUDES LEISURE INTEREST ECONOMIC ANALYSIS ECONOMIC SYSTEM GOVERNMENT INTERVENTION EXCHANGE RATES FINANCIAL MARKETS INFLATION RATE INFRASTRUCTURE UNEMPLOYMENT RATE

PROJECTS CLASSIFICATIONS
QUANTIFIABLE & NON-QUANTIFIABLE PROJECTS SECTORIAL PROJECTS TECHNO-ECONOMIC PROJECTS FINANCIAL INSTITUTIONS SERVICE PROJECTS

ASPECTS OF PROJECTS
PRODUCT/SERVICES MARKETING TECHNICAL FINANCIAL VIABILITY ECONOMIC PROFITABILITY SOCIO-ECONOMIC DESIRABILITY

PROJECT FORMULATION
PROJECT FEASIBILITY

PRE-INVESTMENT

TECHNOECONOMIC

COST-BENEFIT

DESIGN

SOCIAL

NETWORK

FINANCE

INPUT

PROJECT APPRAISAL
PROJECT APPRAISAL

TECNICAL

FINANCIAL & COMMERCIAL

ECONOMIC

MANAGERIAL

LEGAL

SOCIAL

ECOLOGICAL

ORGANISATIONAL