SECTION A 1.

ENTREPRENEURS, INTRAPRENEURS AND MANAGER

'Entrepreneur' An individual who, rather than working as an employee, runs a small business and assumes all the risk and reward of a given business venture, idea, or good or service offered for sale. The entrepreneur is commonly seen as a business leader and innovator of new ideas and business processes. Entrepreneur, translated from its French roots, means "one who undertakes." The term is used to refer to anyone who undertakes the organization and management of an enterpriseinvolving independence and risk as well as the opportunity for profit. An entrepreneur, typically, is inspired to start a business because the entrepreneur perceives a consumer need that is not being adequately filled. This area of need - sometimes called an "opportunity niche" - can usually be expressed as a problem statement, such as "There is no online resource offering support for failed Web-based entrepreneurs." In fact, that statement was the basis for a new Web business startup recently.

'Intrapreneur' An inside entrepreneur, or an entrepreneur within a large firm, who uses entrepreneurial skills without incurring the risks associated with those activities. Intrapreneurs are usually employees within a company who are assigned a special idea or project, and are instructed to develop the project like an entrepreneur would. Intrapreneurs usually have the resources and capabilities of the firm at their disposal. The intrapreneur's main job is to turn that special idea or project into a profitable venture for the company.

Manager A Manager is the person responsible for planning and directing the work of a group of individuals, monitoring their work, and taking corrective action when necessary. For many people, this is their first step into a management career. Managers may direct workers directly or they may direct several supervisors who direct the workers. The manager must be familiar with the work of all the groups he/she supervises, but does not need to be the best in any or all of the areas. It is more important for the manager to know how to manage the workers than to know how to do their work well.

Intrapreneurs and Entrepreneurs

Entrepreneurs provide the spark. Intrapreneurs keep the flame going. Entrepreneurs are found anywhere their vision takes them. Intrapreneurs work within the confines of an organization.

Entrepreneurs face many hurdles, and are sometimes ridiculed and riddled with setbacks. Intrapreneurs may sometimes have to deal with conflict within the organization.

Entrepreneurs may find it difficult to get resources. Intrapreneurs have their resources readily available to them.

Entrepreneurs may lose everything when they fail. Intrapreneurs still have a paycheck to look forward to (at least for now) if they fail.

Entrepreneurs know the business on a macro scale. Intrapreneurs are highly skilled and specialized.

2. DEVELOPING ENTREPRENEURIAL COMPETENCIES Entrepreneurial competency results in superior performance of a job. Competency has a direct bearing on human behaviour and performance. Therefore, entrepreneurial competencies are need to be developed and cultivated in a very systematic manner. The various methods or procedures suggested to develop and sharpen the entrepreneurial competencies are discussed below: (i) Gaining Knowledge and understanding: The first step towards acquiring a new behaviour is to gain knowledge and understanding what a particular competence means. Competencies cannot be cultivated without having a proper knowledge and understanding of their meaning, importance and relevance. Therefore, it is essential to understand the various competencies required for the efficient performance of a given task. ii. Recognising competency: The next step in developing entrepreneurial competencies refers to competency recognition. Under this step an effort is made to recognise the competency. Recognising the competency helps an entrepreneur to know as to what are the competencies required to perform a given task in a particular manner when someone exhibits the same. iii. Self-assessment: Once a particular competency is understood and recognized, the next step is to find out where one stands with respect to a given competency. In other words, does one possess the given competence and if so how frequently one exhibits the same in one's day-to-day activities for achieving his desired goal. This step needs self introspection as regards the level of a particular competence.

iv. Application in real life situation: Any new behaviour that one acquires would become a part of one's personality only when one applies the same on a continuous basis in various activities. Regular practice of an activity brings perfection in the field. Therefore, there is a need to make an effort towards exhibiting all the competencies deliberately and consciously all the time even in the simplest activities that one performs. v. Comparison of competencies: The next step is to compare the individual competencies developed through regular practice with the competencies required for the desired performance. If any deficiency is observed between the two, then an earnest attempt is to be made to find out the reasons thereof, so that necessary corrective measures can be taken for the same. vi. Feedback: Having understood a competence and practiced the same in a given situation one needs to introspect to find out how one's new behaviour or act of exhibiting a competence has been rewarding. This is called 'Feedback'. This means, to find out the strengths and weaknesses of one's new competence. It helps in knowing the rewards of new competency. If greater is the benefit, then more will be one's determination to continue exhibiting the competence in a number of situations. It is through continuous application that one can ensure that the desired competency becomes part of his habit or personality.

4. DIC SCHEMES There are numerous schemes implemented by various State Government Departments/Corporations such as Social Justice Department, Mahatma Phule Scheduled Caste Development Corporation, Vasantrao Naik VJ/NT Development Corporation, etc. Besides these departments, the Directorate of Industries through its District Industries Centres at District Level and Joint Director of Industries, Mumbai Metropoliton Region at Mumbai, implements Prime Ministers Employment Generation Programme (PMEGP), Seed Money Scheme and District Industries Centre Loan Scheme for unemployed youth. There are mainly three schemes viz. PMEGP, Seed Money Scheme and District Industries Loan Scheme implemented by Directorate of Industries for unemployed youth. The brief features of these schemes are described below :A) PMEGP Coverage : Industry projects upto Rs. 25 lakhs investment and service/business projects upto Rs. 10 lacs

investment are eligible under the scheme. Project cost will include fixed capital (excluding land cost)plus working capital. Extent of assistance : 90% loan for general group and 95% for special group will be available from public sector banks, Regional rural banks, IDBI. In urban areas, 15% margin money subsidy for general group and 25% for special group will be available through KVIC. In rural areas, the margin money subsidy will be 25% to 35% respectively. Special group include SC/ST/OBC/minority/woman/ex-

servicemen/physically handicapped. 1. Eligibility : 1. Any individual, above 18 years of age 2. For setting up of project costing above Rs.10 lakh in the manufacturing sector and above Rs. 5 lakh in the business/service sector, the beneficiaries should have at least VIII standard pass educational qualification. 3. Assistance under the Scheme is available only for new projects sanctioned specifically under the PMEGP. 4. Self Help Groups (including those belonging to BPL provided that they have not availed benefits under any other Scheme) are also eligible for assistance under PMEGP. 5. Institutions registered under Societies Registration Act,1860; 6. Production Co-operative Societies, and Charitable Trusts. 7. Existing Units (under PMRY, REGP or any other scheme of Government of India or State Government) and the units that have already availed Government Subsidy under any other scheme of Government of India or State Government are not eligible. 2. Implementing Agencies : In urban areas, the scheme will be implemented through DIC, while in rural areas through KVIC/KVIB/DIC all three agencies. B) Seed Money Scheme (SMS) 1. The objective of the scheme is to encourage unemployed person to take up self-employment ventures through industry, service and business, by providing soft loans to meet part of the margin money to avail institutional finance. 2. Eligibility : Local unemployed person or group of persons fulfilling: 1. Age Group: 18 to 50 years 2. Qualification: Std. VII pass 3. Domiciled in the state of Maharashtra for the last 15 years.

3. Scope 1. Project cost upto Rs. 25 lakhs for industry, service and business activity.

2. Seed Money assistance at 15 per cent of the project cost approved by financial institutions is offered. In case of projects costing up to Rs. 10 lakhs, the quantum of assistance ranges upto 15 per cent for General category and 20% for SC/ST and OBC/NT/VT/Handicapped upto 20 per cent. 3. Seed Money component up to 3.75 lakhs maximum. 4. Bank loan 75% of the project cost. 5. The rate of interest on seed money is 6% and if the borrower pays the repayment of installment regularly and within scheduled time, then the borrower will get rebate of 3% in interest. So he has to pay only 3% interest. 6. If the installment is not repaid in time, it will attract 1% penal interest.

7. The repayment of loan starts after three years in four yearly installments for industry cases. In other cases repayment starts after six months of loan availment C) DISTRICT INDUSTRIES CENTRE LOAN SCHEME : 1. The objective of the scheme is to provide financial assistance in the form of margin/seed money for the promotion of tiny industries in semi-urban and rural areas with a view to generate employment opportunities including self employment. 2. Margin money assistance is admissible only to those units whose investment in plant & machinery does not exceed Rs. 2 lacs. 3. All towns and rural areas having population of less than 1 lac are covered under the Scheme. 4. The extent of assistance is 20 % of the total investment or Rs. 40000/- whichever is less in case of entrepreneur belonging to general category and in case of entrepreneur belonging to scheduled caste & scheduled tribe, assistance upto 30 % of total fixed capital investment or upto maximum of Rs. 60000/- which ever is less is provided. 5. All units falling within the purview of the Small Scale Industries Board and Village Industries, handicrafts, handlooms, Silk & Coir Industries are covered under the Scheme. 6. The State Governments rate of interest on this loan is 4 % and repayment is to be done within 7 years. 7. This scheme is particularly useful for rural artisans At district level, these schemes are implemented by General Manager, District Industries Centre of respective district (PMEGP scheme is also implemented by KVIB & KVIC in rural areas). In Mumbai, PMEGP & Seed Money Scheme (excluding DIC loan scheme) isimplemented by Joint Director of Industries, Mumbai Metropoliton Region, Mumbai.

So far as DIC/ Joint Director of Industries, Mumbai Metropoliton Region, Mumbai is concerned, no collateral security is insisted. However, in case of Seed Money Scheme and District Industries Centre Loan Scheme, second charge is to be created on the assets created. There is one scheme called Entrepreneurship Development and Training Programme which is implemented by Directorate of Industries through recognized Training Institutions such as MITCON Consultancy Services Ltd. and Maharashtra Centre for Entrepreneurship Development (MCED). Under this scheme, the aspects such as the Entrepreneurship Development and Technical Training are covered.

7. SIX BASIC CONCEPTS OF TQM

Total Quality Management / TQM is an integrative philosophy of management for continuously improving the quality of products and processes.

1..A committed and involved management to provide long-term top-to-bottom organizational support. 2.Unwavering focus on the customer, both internally and externally. 3.Effective involvement and utilization of the entire work force. 4.Continuous improvement of the business and production process 5.Treating suppliers as partners. 6.Establish performance measures for the process.

These concepts outline an excellent way to operate a business organization:

1.

Management must participate in the quality program. A Quality Council must be organized to

develop a clear vision, set long-term goals, and direct the program. Quality goals are included in the business plan. An annual quality improvement program is organized and includes input from the entire work force. Managers participate in the quality improvement teams and also act as advisers to other teams. TQM is a continual activity that must be inculcated in the organizational culture it is not just a one-shot program. TQM must be known and communicated to all workers. 2. The key to an effective TQM program must be directed to customer satisfaction. The best way to start is by satisfying customers. We must always listen to the voice of the customer and emphasize design quality and defect prevention. Does it right the first time and every time, for customer satisfaction is the most important commitment. 3. TQM is an organization-wide challenge that is everyones responsibility. All workers must be

trained in TQM, Statistical Process Control (SPC), and other appropriate quality improvement skills

so they can effectively participate in project teams. Including internal customers and, for that matter, internal suppliers in project teams are excellent approach. Those affected by the plan must be involved in its development and implementation. They should understand the process better than anyone else. Changing behavior is the goal. People must come to work not only to their jobs but also to think about how to improve their jobs. Personnel must be empowered to perform processes in an optimum manner at the lowest possible level. 4. There must be continuous improvement of all business and production process. Quality

improvement projects, such as on-time delivery, order entry efficiency, billing error rate, customer satisfaction, scrap reduction, and supplier management, are good things to start. Technical techniques such as SPC, concurrent engineering, benchmarking, quality function development, ISO 9000, and Taguchis quality design are excellent for problem solving. 5. A partnering relationship rather than an adversarial one must be developed. Both parties have

as much to gain or lose based on the success or failure of the product or services. The focus should be on quality and life cycle cost rather than price. Suppliers should be few in number so that true partnering can happen. 6. Performance measures such as uptime, percent nonconforming, absenteeism and customer

satisfaction should be determined for each function area. These measures should be posted to everyone to see. Quantitative data are necessary to measure thecontinuous quality improvement output.

The purpose of TQM is to provide a quality product or service to customer, which will in turn, increase productivity and lower cost. With a higher quality product and service and lower price, competitive position in the market place will be enhanced. These series of events will allow the business organization to achieve the objectives of profit and growth with the great ease. Furthermore, the workers will have the security, which will create a satisfying environment to work.

8. SYMPTOMS OF INDUSTRIAL SICKNESS Industries might face various problems since its establishment or at early stages of life and sometimes they persist as the industry moves through the future. Problems of sickness may be classified as internal or external or can be classified as financial, technological, environmental, management and marketing related etc. This grouping and sub-grouping of problems can be extended. Whichever be the root causes, they too differ according to the type, location and availability of cooperation and non-cooperation of financial, governmental and other related

agencies, organizations or institutions. If the factors of production i.e., man, machine and material (the famous 3 Ms) and in addition management, money, method and marketing (other 4 Ms) are not properly managed various problems arise. These factors are interrelated and the very survival of the industry depends on factors related to these. Thus, we can classify causes as:

1) Management related: (relating to all general management activities, personnel activities, marketing activities etc.) a) Improper strategic management policy, lack of proper vision, determination of inappropriate path to reach goal, b) Lack of proper training, experience and business outlook of entrepreneurs, investors, decision makers etc. c) Improper manpower planning, over employment problems, d) Improper organizational structure, absence of reorganizing process with business dynamics, e) Poor managerial or administrative control, f) Lack of continuous tracking of productivity indices and continuous tracking of forecasted and actual demands or sales, g) Inappropriate handling of personnel problems, CBA activities, motivation and labor related problems, h) Lack of market planning, market survey, defective or improper sales promotion activities, defective pricing, problem with recovery of cost of products sold on credit etc., i) Conservative attitude of managers: new managers do not try, in many cases, to take initiative to deviate from what was in the past, i.e., they try not to test anything new, j) Improper (of course in some cases) delegation of authority and absence of accountability, k) Non-availability of skilled labor force and management personnel, etc. l) Absence of well developed organizational culture, etc.

2) Financial: (relating to money) a) Poor financial (capital management) management policies, b) Poor working capital management c) Improper managing of accounts, d) Lack of timely decisions form government, banks, financial institutions, e) High interest rate on loans, f) Improper tracking of financial positions, time delay of adjusting to changed local, global economy and business environment prevailing outside,

g) Improper analysis or time delay in taking decision with respect to product diversification, divestment, etc. h) Improper financial analysis (in some cases) for Investment, replacement of plants and Machineries, etc.

3) Technological: (relating to production) a) Defective project planning, location, layout and material handing systems, b) Use of defective forecasting data, use of inappropriate forecasting method, c) Improper capacity planning, d) Improper inventory management and management of supply chain, e) Absence of application of Technology Management principles, f) Inadequate quality control and delay in adaptation to Total Quality Management (TQM) and Quality Assurance programs, g) Absence of use of scientific methods in Scheduling (determination of Master Production Schedule (MPS)) and in Production Planning and control, etc. h) Improper or non-application of decision and optimization theories, etc., i) Improper process planning, absence of application of motion and time study, and ergonomic principles j) Non-application of Reengineering principles so as to adjust to the changed situation, etc.

4) Environmental: a) Change of local and global economic conditions, changes in money exchange rates, etc, b) Lack of coordination between various ministries and government departments and delay in getting decisions, c) Frequent changes in government policies with respect to investment criteria, tax determination, import and export policies, d) Non-availability or irregular supply of required energy (electrical energy, gas), raw materials, labor force, etc. e) Strikes, hartals and other working day losses due to political and social problems. f) Occurrence of Natural calamities like cyclone, flood, tornado etc., g) Attitude of mass media, etc, h) Change of Technology and its lifecycle time. Although many factors have been listed above, and even the list can be extended further, in actual situation a few but not all play the main role in turning an industry to become sick. It is said that Chittagong Steel Mills became sick due to the

liberalization of import policy, continuance of excess manpower even when production declined, failing to compete in market although there might have many more important factors for the bad condition that occurred. 5) Difficulty in paying salaries, bills, loans, taxes, bank interests, etc. Performances of some of the industries of BSEC have been studied based on actual past data obtained from the brochures of BSEC, Chittagong Steel Mills showed clear symptoms of sickness before they have been closed down. Conditions of two other are not good and they have every symptom of sickness. They deserve attention of policy makers and preventive measures are to be taken immediately to avoid closure or being handed over to private owners. SECTION B 10. DOCUMENTS NECESSARY FOR EXPORT Certain documentation takes place while exporting from India. Special documents may be required depending on the type of product or destination. Certain export products may require a quality control inspection certificate from the Export Inspection Agency. Some food and pharmaceutical product may require a health or sanitary certificate for export. An exporter without any commercial contract is completely exposed of foreign exchange risks that arises due to the probability of an adverse change in exchange rates. Therefore, it becomes important for the exporter to gain some knowledge about the foreign exchange rates, quoting of exchange rates and various factors determining the exchange rates. In this section, we have discussed various topics related to foreign exchange rates in detail. Export from India required special document depending upon the type of product and destination to be exported. Export Documents not only gives detail about the product and its destination port but are also used for the purpose of taxation and quality control inspection certification. Shipping Bill / Bill of Export Shipping Bill/ Bill of Export is the main document required by the Customs Authority for allowing shipment. A shipping bill is issued by the shipping agent and represents some kind of certificate for all parties, included ship's owner, seller, buyer and some other parties. For each one represents a kind of certificate document. Documents Required for Post Parcel Customs Clearance In case of Post Parcel, no Shipping Bill is required. The relevant documents are mentioned below:

Customs Declaration Form - It is prescribed by the Universal Postal Union (UPU) and international apex body coordinating activities of national postal administration. It is known by the code number CP2/ CP3 and to be prepared in quadruplicate, signed by the sender.

Despatch Note- It is filled by the exporter to specify the action to be taken by the postal department at the destination in case the address is non-traceable or the parcel is refused to be accepted.

Commercial Invoice - Issued by the exporter for the full realisable amount of goods as per trade term. Consular Invoice - Mainly needed for the countries like Kenya, Uganda, Tanzania, Mauritius, New Zealand, Burma, Iraq, Ausatralia, Fiji, Cyprus, Nigeria, Ghana, Zanzibar etc. It is prepared in the prescribed format and is signed/ certified by the counsel of the importing country located in the country of export.

Customs Invoice - Mainly needed for the countries like USA, Canada, etc. It is prepared on a special form being presented by the Customs authorities of the importing country. It facilitates entry of goods in the importing country at preferential tariff rate.

Legalised / Visaed Invoice - This shows the seller's genuineness before the appropriate consulate or chamber or commerce/ embassy. Certified Invoice - It is required when the exporter needs to certify on the invoice that the goods are of a particular origin or manufactured/ packed at a particular place and in accordance with specific contract. Sight Draft and Usance Draft are available for this. Sight Draft is required when the exporter expects immediate payment and Usance Draft is required for credit delivery.

Packing List - It shows the details of goods contained in each parcel / shipment. Certificate of Inspection It is a type of document describing the condition of goods and confirming that they have been inspected. Black List Certificate - It is required for countries which have strained political relation. It certifies that the ship or the aircraft carrying the goods has not touched those country(s). Manufacturer's Certificate - It is required in addition to the Certificate of Origin for few countries to show that the goods shipped have actually been manufactured and is available. Certificate of Chemical Analysis - It is required to ensure the quality and grade of certain items such as metallic ores, pigments, etc. Certificate of Shipment - It signifies that a certain lot of goods have been shipped. Health/ Veterinary/ Sanitary Certification - Required for export of foodstuffs, marine products, hides, livestock etc. Certificate of Conditioning - It is issued by the competent office to certify compliance of humidity factor, dry weight, etc. Antiquity Measurement It is issued by Archaeological Survey of India in case of antiques.

Shipping Order - Issued by the Shipping (Conference) Line which intimates the exporter about the reservation of space of shipment of cargo through the specific vessel from a specified port and on a specified date.

Cart/ Lorry Ticket - It is prepared for admittance of the cargo through the port gate and includes the shipper's name, cart/ lorry No., marks on packages, quantity, etc. Shut Out Advice - It is a statement of packages which are shut out by a ship and is prepared by the concerned shed and is sent to the exporter. Short Shipment Form - It is an application to the customs authorities at port which advises short shipment of goods and required for claiming the return.

11.WOMEN ENTREPRENEURS Women have entered sectors known to be male dominated and written their own success stories. The trend is visible in the business sectors too, where not only have they climbed up the corporate ladder but have struck out on their own as entrepreneurs. Most of these women entrepreneurs have gained the requisite experience in a corporate environment and feel the need to establish their own small or medium enterprise. TRENDS Passion for their own ideas: It is that time in their lives when they want to give vent to their own creativity, having worked for an organisation and learnt the ropes of running a business. They are brimming with enterprise and want to achieve their long cherished dreams.

Challenges for self-fulfilment: More often than not women take on these challenges to gain satisfaction at a time when they wish to prove their worth after a hiatus from work due to family commitments. Internet has removed the gender bias in India: Studies have revealed that Indian women entrepreneurs are using the internet to be successful at their work. The internet has become a channel for e-commerce opportunities that have enabled women to explore a variety of business prospects. With the growing use of e-commerce, women entrepreneurs can save time in every step of the business cycle. Identifying business opportunities, purchasing raw materials and even selling products have never been easier. Women as risk-takers: Women are increasingly taking on huge projects and have started taking risks in order to bring about change. They are open to the introduction of new innovations in business and also provide effective leadership.

PROBLEMS 1. Family ties: Women in India are very emotionally attached to their families. They are supposed to attend to all the domestic work, to look after the children and other members of the family. They are over burden with family responsibilities like extra attention to husband, children and in laws which take away a lots of their time and energy. In such situation, it will be very difficult to concentrate and run the enterprise successfully. 2. Male dominated society: Even though our constitution speaks of equality between sexes, male chauvinism is still the order of the day. Women are not treated equal to men. Their entry to business requires the approval of the head of the family. Entrepreneurship has traditionally been seen as a male preserve. All these puts a break in the growth of women entrepreneurs. 3. Lack of education: Women in India are lagging far behind in the field of education. Most of the women (around sixty per cent of total women) are illiterate. Those who are educated are provided either less or inadequate education than their male counterpart partly due to early marriage, partly due to son's higher education and partly due to poverty. Due to lack of proper education, women entrepreneurs remain in dark about the development of new technology, new methods of production, marketing and other governmental support which will encourage them to flourish. 4. Social barriers: The traditions and customs prevailed in Indian societies towards women sometimes stand as an obstacle before them to grow and prosper. Castes and religions dominate with one another and hinders women entrepreneurs too. In rural areas, they face more social barriers. They are always seen with suspicious eyes. 5. Shortage of raw materials: The scarcity of raw materials, sometimes nor, availability of proper and adequate raw materials sounds the death-knell of the enterprises run by women entrepreneurs. Women entrepreneurs really face a tough task in getting the required raw material and other necessary inputs for the enterprises when the prices are very high. 6. Problem of finance: Women entrepreneurs stiffer a lot in raising and meeting the financial needs of the business. Bankers, creditors and financial institutes are not coming forward to provide financial assistance to women borrowers on the ground of their less credit worthiness and more chances of business

failure. They also face financial problem due to blockage of funds in raw materials, work-inprogress finished goods and non-receipt of payment from customers in time. 7. Tough competition: Usually women entrepreneurs employ low technology in the process of production. In a market where the competition is too high, they have to fight hard to survive in the market against the organised sector and their male counterpart who have vast experience and capacity to adopt advanced technology in managing enterprises 8. High cost of production: Several factors including inefficient management contribute to the high cost of production which stands as a stumbling block before women entrepreneurs. Women entrepreneurs face technology obsolescence due to non-adoption or slow adoption to changing technology which is a major factor of high cost of production. 9.Low risk-bearing capacity: Women in India are by nature weak, shy and mild. They cannot bear the amount risk which is essential for running an enterprise. Lack of education, training and financial support from outsides also reduce their ability to bear the risk involved in an enterprises. 10 Limited mobility: Women mobility in India is highly limited and has become a problem due to traditional values and inability to drive vehicles. Moving alone and asking for a room to stay out in the night for business purposes are still looked upon with suspicious eyes. Sometimes, younger women feel uncomfortable in dealing with men who show extra interest in them than work related aspects. 11. Lack of entrepreneurial aptitude: Lack of entrepreneurial aptitude is a matter of concern for women entrepreneurs. They have no entrepreneurial bent of mind. Even after attending various training programmes on entrepreneur ship women entrepreneurs fail to tide over the risks and troubles that may come up in an organisational working. 12. Limited managerial ability: Management has become a specialised job which only efficient managers perform. Women entrepreneurs are not efficient in managerial functions like planning, organising, controlling, coordinating, staffing, directing, motivating etc. of an enterprise. Therefore, less and limited managerial ability of women has become a problem for them to run the enterprise successfully. 13. Legal formalities: Fulfilling the legal formalities required for running an enterprise becomes an upheaval task on the part of an women entrepreneur because of the prevalence of corrupt practices in government offices

and procedural delays for various licenses, electricity, water and shed allotments. In such situations women entrepreneurs find it hard to concentrate on the smooth working of the enterprise. 14. Exploitation by middle men: Since women cannot run around for marketing, distribution and money collection, they have to depend on middle men for the above activities. Middle men tend to exploit them in the guise of helping. They add their own profit margin which result in less sales and lesser profit. 15. Lack of self confidence: Women entrepreneurs because of their inherent nature, lack of self-confidence which is essentially a motivating factor in running an enterprise successfully. They have to strive hard to strike a balance between managing a family and managing an enterprise. Sometimes she has to sacrifice her entrepreneurial urge in order to strike a balance between the two.

13. FACTORS AFFECTING ENTRREPRENEURAL GROWTH Entrepreneurship is influenced by four distinct factors: economic development, culture, technological development and education. In areas where these factors are present, you can expect to see strong and consistent entrepreneurial growth. These conditions may have both positive and negative influences on the emergence of entrepreneurship. Positive influences constitute facilitative and conducive conditions for the emergence of entrepreneurship, whereas negative influences create inhibiting milieu to the emergence of entrepreneurship. ECONOMIC FACTORS Economic environment exercises the most direct and immediate influence on entrepreneurship. This is likely because people become entrepreneurs due to necessity when there are no other jobs or because of opportunity. The economic factors that affect the growth of entrepreneurship are the following: 1. Capital Capital is one of the most important factors of production for the establishment of an enterprise. Increase in capital investment in viable projects results in increase in profits which help in accelerating the process of capital formation. Entrepreneurship activity too gets a boost with the easy availability of funds for investment. 2. Labor Easy availability of right type of workers also effect entrepreneurship. The quality rather than quantity of labor influences the emergence and growth of entrepreneurship. The problem of labor immobility can be solved by providing infrastructural facilities including efficient transportation.

The quality rather quantity of labor is another factor which influences the emergence of entrepreneurship. 3. Raw Materials The necessity of raw materials hardly needs any emphasis for establishing any industrial activity and its influence in the emergence of entrepreneurship. In the absence of raw materials, neither any enterprise can be established nor can an entrepreneur be emerged 4. Market The role and importance of market and marketing is very important for the growth of entrepreneurship. In modern competitive world no entrepreneur can think of surviving in the absence of latest knowledge about market and various marketing techniques. The fact remains that the potential of the market constitutes the major determinant of probable rewards from entrepreneurial function. Frankly speaking, if the proof of pudding lies in eating, the proof of all production lies in consumption, i.e., marketing. 5. Infrastructure Expansion of entrepreneurship presupposes properly developed communication and transportation facilities. It not only helps to enlarge the market, but expand the horizons of business too. Take for instance, the establishment of post and telegraph system and construction of roads and highways in India. It helped considerable entrepreneurial activities which took place in the 1850s. Apart from the above factors, institutions like trade/ business associations, business schools, libraries, etc. also make valuable contribution towards promoting and sustaining entrepreneurship in the economy. You can gather all the information you want from these bodies. They also act as a forum for communication and joint action.

SOCIAL FACTORS Social factors can go a long way in encouraging entrepreneurship. In fact it was the highly helpful society that made the industrial revolution a glorious success in Europe. Strongly affect the entrepreneurial behavior, which contribute to entrepreneurial growth. The social setting in which the people grow, shapes their basic beliefs, values and norms. The main components of social environment are as follows: 1. Caste Factor There are certain cultural practices and values in every society which influence the actions of individuals. These practices and value have evolved over hundred of years. For instance, consider the caste system (the varna system) among the Hindus in India. It has divided the population on the

basis of caste into four division. The Brahmana (priest), the Kshatriya (warrior), the Vaishya (trade) and the Shudra (artisan): It has also defined limits to the social mobility of individuals. 2. Family Background This factor includes size of family, type of family and economic status of family. In a study by Hadimani, it has been revealed that Zamindar family helped to gain access to political power and exhibit higher level of entrepreneurship. Background of a family in manufacturing provided a source of industrial entrepreneurship. 3. Education Education enables one to understand the outside world and equips him with the basic knowledge and skills to deal with day-to-day problems. In any society, the system of education has a significant role to play in inculcating entrepreneurial values. In India, the system of education prior to the 20th century was based on religion. In this rigid system, critical and questioning attitudes towards society were discouraged. The caste system and the resultant occupational structure were reinforced by such education. It promoted the idea that business is not a respectable occupation. Later, when the British came to our country, they introduced an education system, just to produce clerks and accountants for the East India Company, The base of such a system, as you can well see, is very anti-entrepreneurial. 4. Attitude of the Society A related aspect to these is the attitude of the society towards entrepreneurship. Certain societies encourage innovations and novelties, and thus approve entrepreneurs actions and rewards like profits. Certain others do not tolerate changes and in such circumstances, entrepreneurship cannot take root and grow. Similarly, some societies have an inherent dislike for any money-making activity. It is said, that in Russia, in the nineteenth century, the upper classes did not like entrepreneurs. 5. Cultural Value Motives impel men to action. Entrepreneurial growth requires proper motives like profit-making, acquisition of prestige and attainment of social status. Ambitious and talented men would take risks and innovate if these motives are strong. The strength of these motives depends upon the culture of the society. If the culture is economically or monetarily oriented, entrepreneurship would be applauded and praised; wealth accumulation as a way of life would be appreciated. In the less developed countries, people are not economically motivated. Monetary incentives have relatively less attraction.

PSYCHOLOGICAL FACTORS Many entrepreneurial theorists have propounded theories of entrepreneurship that concentrate especially upon psychological factors. These are as follows : 1. Need Achievement The most important psychological theories of entrepreneurship was put forward in the early) 960s by David McClelland. According to McClelland need achievement is social motive to excel that tends to characterise successful entrepreneurs, especially when reinforced by cultural factors. He found that certain kinds of people, especially those who became entrepreneurs, had this characteristic. Moreover, some societies tend to reproduce a larger percentage of people with high need achievement than other societies. McClelland attributed this to sociological factors. Differences among societies and individuals accounted for need achievement being greater in some societies and less in certain others. 2. Withdrawal of Status Respect There are several other researchers who have tried to understand the psychological roots of entrepreneurship. One such individual is Everett Hagen who stresses the-psychological consequences of social change. Hagen says, at some point many social groups experience a radical loss of status. Hagen attributed the withdrawal of status respect of a group to the genesis of entrepreneurship. 3. Motives Other psychological theories of entrepreneurship stress the motives or goals of the entrepreneur. Cole is of the opinion that besides wealth, entrepreneurs seek power, prestige, security and service to society. Stepanek points particularly to non-monetary aspects such as independence, persons self-esteem, power and regard of the society.