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ENTREPRENEURSHIP MANAGEMENT Q1. Explain the concept of entrepreneurship. (Dictated) Q2. What do you mean by entrepreneurship management?

Discuss the characteristics of entrepreneurship. (Dictated) Q3. Explain the role of entrepreneurial activity in developing a nation. (Dictated) Q4. Explain the concept of intrapreneur. Gifford Pinchot introduced the term ‘Intrapreneurship’. According to him, intrapreneur is an entrepreneur within an already existing organization. The prime motive of intrapreneur is independence and to get rewarded for performance. Comparison between entrepreneur and intrapreneur. ENTREPRENEUR 1.Meaning entrepreneur is a person who undertakes business ventures and assumes risks and rewards 2. Needs the primary needs of an entrepreneur are independence, innovations and to get rewarded for performance by operating a business venture. 3. Ownership Entrepreneurs possess direct ownership. 4. Popularity of the concept Entrepreneurship is a popular concept in business world 5. Qualifications Entrepreneur may not require paper qualifications. But he/she needs to have good amount of experience and enterprising skills. 6. Resources An entrepreneur makes use of his/her own resources. The resources may be owned or borrowed. 7. Sponsors/ Mentors Normally entrepreneur does not need support of mentors or sponsors. 8. Time orientation An entrepreneur normally considers a longer time orientation. He may consider profit potential for a longer time span. The growth of an enterprise may take place over 5 to 10 years. 9. Approvals An entrepreneur makes his own decision. He need not take approvals from others except in case of partnerships. INTRAPRENEUR Intrapreneur is a person who acts as an entrepreneur within an already existing organization. The primary needs of an intrapreneur are independence, innovations and to get corporate rewards from the organization in which he/she works. Intrapreneur lacks ownership as he/she works for an already existing organization. Intrapreneurship is a modern concept, mostly adopted in MNCs. Intrapreneur requires paper qualification, as they are normally recruited in MNCs. At the same time, an intrapreneur requires good experience and skills too. An intrapreneur makes use of organizational resources in which he/she works.

Normally, intrapreneur needs support of mentors/ sponsors. For an intrapreneur, the time orientation may be shorter or longer depending on the urgency to meet corporate objectives.

An intrapreneur may have to take approval from top management for major decisions.

Nonavailability of long-term finance. 2. Marketing Problems: During the process of marketing of products women entrepreneurs faced certain problems viz. Major areas are looked after by the entrepreneur himself. The production problem includes: • • • • • Non-availability of raw material Non-availability of machine or equipment Lack of training facility Non-availability of labour High cost of required machine or equipment . Business activity Entrepreneur gets directly involved in the business activity. poor location of shop. 3. organize and operate a business enterprise. However. Production Problems: Production problems faced by maximum women entrepreneurs. Q8. However. What are the attributes of a successful entrepreneur? (Discussed) Q6. Women Entrepreneurs may be defined as the women or a group of women who initiate. Discuss the problems and limitations of women entrepreneurs in India. of late the situation has changed and numbers of banks have developed special schemes for women entrepreneurs. Intrapreneur gets directly involved in his/her projects and there is less of delegation. They also lack pricing. Financial Problems: Finance is a most important aspect of any business. at present women entrepreneurs are getting support from NGOs and government agencies in marketing their products. Women in India are faced many problems to get ahead their life in business. Explain the contributions of Mc Clelland and Joseph Schumpeter in entrepreneurship management. lack of transport facility and tough competition from larger and established units. Q5. They find it difficult to negotiate with intermediaries as males dominate most of the distribution channels. Government of India has defined women entrepreneurs as an enterprise owned and controlled by a women having a minimum financial interest of 51% of the capital and giving at least 51% of employment generated in the enterprise to women. Explain the theories relating to concept of entrepreneurship. The problems can be broadly divided into two groups: A) Business related 1.10. regular and frequent need of working capital and long procedure to avail financial help was found to be the financial problems faced by women entrepreneurs in India. promotion skills. (Dictated) Q7.

Dept of School Education & Literacy. Also.4. Of late this trend has changed as females in urban areas do get education including management and technical education. 7. etc. they have to fight hard to survive in the market against the organized sector and their male counterpart who have vast experience and capacity to adopt advanced technology in managing enterprises. . Government of India. B) Gender based problems: 9. Thus. 10. 6. the sales of small enterprises do get affected. In a market where the competition is too high. The goal of SBA Hydro and Renewable Energy (SHREY): to provide hydroelectric power to villages in the Himalayan Belt of northern India. Problem of education In India women in general are less literate as compared to the male population. the Government of India has requested the World Bank's assistance to finance the proposed Vishnugad Pipalkoti Hydro Electric Project to be developed by the THDC India Ltd (THDC) on the Alaknanda River in Uttarakhand. Thus. Legal formalities: Fulfilling the legal formalities required for running an enterprise becomes an upheaval task on the part of a women entrepreneur because of the prevalence of corrupt practices in government offices and procedural delays for various licenses. The result will be the provision of reliable electricity to more than 6. In such situations women entrepreneurs find it hard to concentrate on the smooth working of the enterprise. Tough competition: Usually women entrepreneurs employ low technology in the process of production. There is lack of business awareness especially in rural areas.000 people living in rural India. For instance. However. etc. women entrepreneurs are at a disadvantage as compared to male entrepreneurs. Problem of dual responsibility Women entrepreneurs have to balance their household life and business work. there is lack of emphasis on quality check in most of the enterprises. 5. the current scenario says something else. This happens especially in backward areas. cooking. The dual career couples share more or less equal responsibility at home. looking after her kids. electricity. water and shed allotments. THDC is a joint venture between the Government of India and the Government of Uttar Pradesh.000 households. the Sarva Shiksha Abhiyan programme by the Ministry of HRD. the lady of the house has social obligation to look after day to day chores of the household such as cleaning. This may be due to lack of experience or literacy. representing more than 30. Lack of professional management: There is lack of professional management. However. there are NGOs and government agencies trying to solve this problem. SHREY is building microhydro systems to provide electricity to Indian villages. In Indian society. For instance. Problem of Infrastructure: Entrepreneurs in general face problem of infrastructure. they concentrate on work life most of the times. as far as male entrepreneurs are concerned. The lack of professionalism in management can be seen in the following areas: • Use of outdated technology • Over emphasis on profits • Lack of social responsibility • Poor personnel policies. Poor quality control: Entrepreneurs also face problem of poor quality control in India. 8.

1. Lack of education. 15. Low risk-bearing capacity: Women in India are by nature weak. Women have been among the most disadvantaged and oppressed section of our country with regard to access to resources. namely. They are always seen with suspicious eyes. Castes and religions dominate with one another and hinder women entrepreneurs too. The remaining 70% of the project cost is financed by the lending agency as loan for undertaking activities as envisaged in the project. In rural areas. training and financial support from outsides also reduce their ability to bear the risk involved in an enterprises. Social barriers: The traditions and customs prevailed in Indian societies towards women sometimes stand as an obstacle before them to grow and prosper. • . government launched a Scheme. Prospects for women entrepreneur in India/ special schemes/ role of government/ NGOs for women entrepreneurs in India. Quite often the male workers tend to ignore the directions of woman managers. In order to alleviate their problems. They cannot bear the amount risk which is essential for running an enterprise.11. TRADE RELATED ENTREPRENEURSHIP ASSISTANCE AND DEVELOPMENT SCHEME FOR WOMEN (TREAD) With a view to encourage women in setting up their own ventures. shy and mild. Sometimes. 14. 12. Q9. 13. Moving alone and asking for a room to stay out in the night for business purposes are still looked upon with suspicious eyes. Problems faced by them continue to be grave particularly for illiterate and semi literate women of rural and urban areas. various organizations. Limited mobility: Women mobility in India is highly limited and has become a problem due to traditional values and inability to drive vehicles. All these put a break in the growth of women entrepreneurs. However. GoI grant upto Rs. “Trade Related Entrepreneurship Assistance and Development (TREAD).1 lakh per programme to training institutions / NGOs for imparting training to the women entrepreneurs. The scheme envisaged economic empowerment of women through the development of their entrepreneurial skills in non-farm activities. Their entry to business requires the approval of the head of the family.Government Organisations (NGOs) for promoting entrepreneurship among women. NGOs. Male dominated society: Even though our constitution speaks of equality between sexes. Entrepreneurship has traditionally been seen as a male preserve. There are three major components of the scheme: • GoI grant upto 30% of the total project cost to the Non. younger women feel uncomfortable in dealing with men who show extra interest in them than work related aspects. government agencies have initiated various schemes for women entrepreneurs to make them economically dependent. Women are not treated equal to men. the trend has changed and women entrepreneur do not find it difficult in managing their male workers especially when they possess good managerial skills. male chauvinism is still the order of the day. Problem of managing male workers: In India women entrepreneurs find it difficult to manage male workers. They look down upon them including women entrepreneur. they face more social barriers.

25 lakh. EXHIBITIONS FOR WOMEN UNDER PROMOTIONAL PACKAGE FOR MICRO & SMALL ENTERPRISES Development commissioner (MSME) has formulated a scheme for women entrepreneurs to encourage Small & Micro manufacturing units owned by women in their efforts at tapping and developing overseas markets. SBI SCHEME FOR WOMEN ENTREPRENEUR: Under its Stree Shakti Scheme.10 lakh. 1. research studies. committees or bodies associated with it for the purpose of its advice on various policies and programme to be implemented by it. Their schemes: • provide rent free space in the exhibitions • reimburse 100% economy class air fare for one representative • reimburse shipping cost upto Rs. 2. The women entrepreneur should contribute at least 10% of the total cost of the project. . For instance. The seed capital amount is subject to maximum amount of rs. SIDBI SCHEMES: There are several schemes for Women Entrepreneurs provide by SIDBI. to enhance export from such units. Business enterprises. to increase participation of representatives of small/micro manufacturing enterprises under SIDO stall at International Trade Fairs/Exhibitions. Term Loan & Working Capital facility is available with concessionary margins and interest rates. 8. 5. 7. designing of training modules etc.000/• The overall ceiling shall however be Rs. The SFCs can in turn get refinance from SIDBI.15.• Need-based GoI grants upto Rs. 6. Women entrepreneurs can obtain direct finance from SFCs for setting up enterprises.1 lakh and the cost of project should not exceed more than rs. Professionals and self employed. KVIC SUPPORT. 3. SCHEMES OF SFCs: The State Financial Corporations provide schemes for women entrepreneurs in the area of finance. evaluation studies. small scale units or tiny units where the women entrepreneur’s stake is more than 51%. The KVIC has a number of boards.5 lakh to National Entrepreneurship Development Institutions and any other institutions of repute for undertaking field surveys. Women Industries Fund Scheme Under this scheme entrepreneurs get 15% seed capital of the total cost of the project. Mahila Udyam Nidhi where in assistance is provided to Women entrepreneurs for setting up new projects in tiny/small scale sector and rehabilitation of viable sick SSI units. The CSWB also provides training and extension services to women entrepreneurs. 4. One of it includes Women Empowerment Committee in the interest of women entrepreneurs. Production Grant The women entrepreneur can obtain grant for setting up a production unit from Central Social Welfare Board. for women entrepreneurs in Retail trade.

SIDO has introduced EDPs in areas like TV repairing. . Special Awards A number of organizations including NGOs provide special awards to women entrepreneurs in order to motivate them and encourage women entrepreneurs. • District Industrial Centres which facilitates assistance in respect of training. • Schemes of Bank of India like “Priyadarshan Yajana”. The EDPs go in a long way to help encourage potential women entrepreneurs to set up small enterprises. Others: • Women cell which provides assistance to women entrepreneurs facing specific problems • Income Generating Scheme to make women entrepreneurs economically independent. Chairperson. Executive Director. Tata Tea. Apeejay Surrendra Park Hotels. research and marketing assistance. INDIA TODAY WOMAN IN BUSINESS title was Awarded in 2010 to Priya Paul. etc. leather goods.9. Business Today awards Most Powerful Women in Indian business. 10. For instance. Entrepreneurship Development Programme To cater needs of potential women entrepreneurs. INDIA TODAY WOMAN IN THE CORPORATE WORLD(2010) was awarded to Sangeeta Talwar.