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Entrepreneurship Management Notes

The document outlines internal and external factors affecting entrepreneurship, including personal traits, skills, resources, and economic conditions. It discusses the entrepreneurial development cycle, the role of SMEs in India, effective funding strategies, and the creation of an elevator pitch. Additionally, it highlights women and family entrepreneurship, addressing their unique challenges and support systems.

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swapnil.sharmamba23
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405 views4 pages

Entrepreneurship Management Notes

The document outlines internal and external factors affecting entrepreneurship, including personal traits, skills, resources, and economic conditions. It discusses the entrepreneurial development cycle, the role of SMEs in India, effective funding strategies, and the creation of an elevator pitch. Additionally, it highlights women and family entrepreneurship, addressing their unique challenges and support systems.

Uploaded by

swapnil.sharmamba23
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Entrepreneurship Management (8.5.

25)

1. External & Internal Factors Affecting Entrepreneurship

Internal Factors:

- Personal Traits: Risk-taking ability, motivation, vision, leadership, decision-making.

- Skills & Knowledge: Technical know-how, management skills, innovation.

- Resources: Availability of finance, human resources, technology.

- Business Plan: A well-defined business model and strategy.

- Support System: Family backing, mentors, professional networks.

External Factors:

- Economic Environment: Market demand, inflation, interest rates.

- Political & Legal Framework: Government regulations, taxation, labor laws.

- Socio-Cultural Factors: Social values, education level, cultural attitudes.

- Technological Developments: Innovation, internet, AI, digitization.

- Infrastructure: Transportation, logistics, communication networks.

- Financial Institutions: Access to funding, ease of loans, venture capital.

2. Entrepreneurial Development (ED) Cycle

- Identification of Potential Entrepreneurs

- Training & Development

- Business Plan Preparation

- Assistance in Project Implementation

- Monitoring & Support


- Growth & Sustainability

3. Role of SMEs in India

- Employment Generation: Over 110 million jobs.

- GDP Contribution: ~30% of India's GDP.

- Export Contribution: 48% of total exports.

- Regional Development: Equitable development in rural/semi-urban areas.

- Innovation and Flexibility: Grassroots innovation, adaptability.

- Support for Large Industries: Act as suppliers/vendors.

Schemes: PMEGP, MSME Credit Guarantee, SIDBI schemes, Udyam Registration

4. Effective Strategies to Secure Funding

- Develop a Clear Business Plan

- Bootstrap Initially

- Pitch to Angel Investors

- Seek Venture Capitalists

- Bank Loans and Government Schemes

- Crowdfunding Platforms

- Strategic Partnerships and Grants

5. How to Create an Elevator Pitch

Structure:

- Problem Statement
- Solution

- Value Proposition

- Target Market

- Call to Action

Example:

"We're building an AI-powered app that helps small retailers manage inventory in real-time..."

6. Strategy to Launch New Product Line in Competitive Market

- Market Research

- Unique Selling Proposition (USP)

- Positioning Strategy

- Pricing Strategy

- Marketing & Promotion

- Distribution Channels

- Customer Feedback & Iteration

- Leverage Technology & Analytics

7. Women and Family Entrepreneurship

Women Entrepreneurship:

- Definition: Business owned and operated by a woman/group of women.

- Challenges: Social constraints, access to finance, skill gaps.

- Support: Stand-Up India, WEP, Mahila Coir Yojana

Family Entrepreneurship:
- Definition: Business owned and managed by family members.

- Advantages: Trust, long-term focus.

- Challenges: Succession, governance.

- Success Factors: Role clarity, professionalism.

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