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ENTREPRENEURSHIP AND MANAGEMENT OF SMALL
AND MEDIUM ENTERPRISES
UNIT-1 ENTREPRENEURSHIP
1) Meaning and Definition
2) Importance of Growth of Entrepreneurial Activity
3) Concept of Entrepreneur
4) Characteristics and Qualities of Entrepreneur
5) Characteristics and Types of Entrepreneurs
6) Women Entrepreneurs
7) Theories of Entrepreneurs
8) Contribution of McClelland and Joseph Schumpeter
UNIT-II
ENTREPRENEURIAL DEVELOPMENT
9) Factors Influencing Entrepreneurial Development
10) Role of Culture in Entrepreneurial Development
11) Entrepreneurial Development Programme
12) Self Help Groups & Women Entrepreneurs
13) Franchising and Outsourcing
14) Social Entrepreneurship
UNIT III- ENTREPRENEURIAL PROFUECT DEVELOPMENT
15) Idea Generation
16) Identification and Classification of Ideas
17) Environmental Scanning
18) SWOT Analysis
19) Preparation of Project Plan
20) Ideal Business Plan
21) Project Formulation
22) Project Appraisal
23) Technological Feasibility
UNIT-IV: SMALL & MEDIUM ENTERPRISES
24) Meaning and Definition
25) Role and Importance
26) Policies Governing SMEs
27) Organizational Structure
28) Steps in Setting up a Small Unit
29) SME Funding
30) SIDBI and SSI Role in the Development of SMEs
31) Marketing Mechanism in SMEs
32) Export Potentials of SMEs
33) Problem of SMEs & Prospects
34) Turnaround Strategies for SMEs.
ENTREPRENEURSHIP
The New Encyclopedia Britannica considers an
entrepreneur as “an individual who bears the risk of
operating a business in the face of uncertainty about the
future conditions.
THE CONCEPT OF ENTREPRENEUR
1) Entrepreneur as a Risk-Bearer
2) Entrepreneur as an Organizer
3) Entrepreneur as an Innovator
According to Drucker, three conditions have to be fulfilled:
1) Innovation at work. It requires knowledge and ingenuity. It
makes great demand on diligence, persistence and commitment.
2) To succeed, innovation must build on their strengths.
3) Innovation always has to be close to the market, focused on the
market, indeed market-driven
BASICS OF AN ENTREPRENEUR
INNOVATION
RISK
ENTERPRISE
URGE
SKILL
VISION
MANAGEMENT
ORGANISATION
GROWTH
BARRIERS TO ENTREPRENEURSHIP
1) Lack of a viable concept
2) Lack of market knowledge
3) Lack of technical skills
4) Lack of seed capital
5) Lack of business knowhow
6) Lack of motivation
7) Social stigma
8) Time pressure and distractions
9) Legal constraints and regulations
10)Monopoly and protectionism
11) Inhibitions due to patents
ENTREPRENEURSHIP
According to Peter Drucker, “Entrepreneurship is
neither a science nor an art. It is a practice. It has a
knowledge base. Knowledge in entrepreneurship is a
means to an end. Indeed, what constitutes knowledge in
practice is largely defined by the ends, that is, by the
practice.”
ACCEPTING CHALLENGES
ORGANISATION
SKILFUL MANAGEMENT
MAKING THE ENTERPRISEA SUCCESS
ENTREPRENEURSHIP
DECISTION-MAKING
RISK-TAKING
INNOVATION
Characteristics Of Entrepreneurship
QUALITIES OF AN ENTREPRENEURSHIP
1. Willingness to assume risk
2. Leadership
3. Decisiveness
4. Creative thinking
5. Confidence in project
6. Technical knowledge
7. Flexibility
8. Ability to marshal resources
9. Determination, courage and perseverance
ENTREPRENEUR V/S ENTREPRENEURSHIP1) Refers To A Person Refers To A Process
2) Visualiser Vision
3) Creator Creation
4) Organizer Organization
5) Innovator Innovation
6) Technician Technology
7) Initiator Initiative
8) Decision-maker Decision
9) Planner Planning
10)Leader Leadership
TYPES OF ENTREPRENEUR
I. According to the type of business
1) Business entrepreneur
2) Trading entrepreneur
3) Industrial entrepreneur
4) Corporate entrepreneur5) Agricultural entrepreneur
II. According to the use of technology
1) Technical entrepreneur
2) Non-technical entrepreneur
3) Professional entrepreneur
III.According To The Motivation
1) Pure Entrepreneur
2) Induced Entrepreneur
3) Motivated Entrepreneur4) Spontaneous Entrepreneur
IV.According To The Growth
1) Growth Entrepreneur
2) Super-growth Entrepreneur
V. According to the stages of development
1) First-generation entrepreneur
2) Modern entrepreneur3) Classical entrepreneur
VI.According to the area
1) Rural entrepreneur2) Urban entrepreneur
VII.According to the gender
1) Men entrepreneur
2) Women entrepreneur
VIII.According to the sale of operation
1) Small scale entrepreneur2) Large scale entrepreneur
IX.Other or unclassified
1) National entrepreneur
2) International entrepreneur
3) Bureaucratic entrepreneur
A person within a large corporation who takes direct responsibility for turning an idea into a profitable finished product through assertive risk taking and innovation.
Intrapreneurs have entrepreneurial skills blended with managerial skills but operate within the confines of an organization.
Intrapreneur
Intrapreneurs are “dreamers who do”, those who take hands-on responsibility for creating innovation of any kind within an organization. Gifford Pinchot
The intrapreneur is an essential ingredient in every innovation. Dr. William Souder
Defined as…
INTRAPRENEURS CHARACTERISTICS
1) Self motivated
2) Self-confident and courageous
3) Freedom
4) Education
5) Systems
6) Focus on customers
7) Patient and willing to compromise
8) Open to discussion and idea
9) motivator
CLASSIFICATION OF INTRAPRENEURS
1) Innovating Intrapreneurs
2) Marketing Intrapreneurs
3) Technical Intrapreneurs
4) Manufacturing Intrapreneurs
5) Financial Intrapreneurs
6) Service Intrapreneurs and
7) Other Intrapreneurs in various facet of
management activities
WOMEN ENTREPRENEURS
According to Government of India, “ a women
entrepreneur is defined 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
the employment generated in the enterprise of women”.
FUNCTIONS OF WOMEN ENTREPRENEUR
1) Exploration of the prospects of starting a new business
enterprise
2) Undertaking of risks and the handling of economic
uncertainties involved in business
3) Introduction of innovations or imitation of innovations
4) Coordination, administration and control
5) Supervision and leadership
PROBLEMS OF WOMEN ENTREPRENEURS
1) Problem of Finance
2) Scarcity of Raw Material
3) Stiff Competition
4) Limited Mobility
5) Family Ties
6) Lack of Education
7) Male-dominated Society
8) Low Risk-bearing Ability
STRATEGIES FOR THE DEVELOPMENT OF
WOMEN ENTREPRENEURS
1) Education & Awareness
2) Better Time Management
3) Set-up Home-based Business
4) Efficient Use of Information Technology
5) Training Facility
6) Finance Cells
7) Dispense Collateral Security
8) Organize Workshops & Seminars
SPECIAL SCHEME FOR WOMEN ENTREPRENEURS1) Seed Capital Scheme
2) National Equity Fund
3) Women Industrial Fund Scheme
4) Single Window Scheme
5) Training & Extension Services
6) Scheme For Refinance Assistance To Women
Entrepreneurs
7) MAHILA ARTHIK VIKAS MAHAMANDAL (MAVIM)
8) SELF-EMPLOYED WOMEN ASSOCIATION (SEWA)
THEORIES OF ENTREPRENEURSHIP
1) An Economic Theory- Mark Casson
2) Leibenstein’s X-efficiency Theory
3) Dynamic Entrepreneurship Innovation Theory-
Schumpeter
4) Harvard School Theory
5) Theory Of High Achievement - McClelland
6) Theory Of Change- Young’s Theory
7) Theory Of Profit- Knight
8) Theory Of Adjustment Of Price-Kirzner
9) Theory Of Market-Hayek’s
10)Theory Of Social Change-Hagen’s
11)Theory Of Entrepreneurial Supply-John Kunkal
12)Theory Of Personal Resourcefulness
13)Theory Of Cultural Values-Thomas Cochran’s
Contribution of McClelland and Joseph Schumpeter
David McClelland
According to McClelland, “ An entrepreneur is some one who
exercises some control over the means of production and produces
more than what he can consume inorder to sell in for individual
income”.
David McClelland is most noted for describing three types of
motivational need, which he identified
1) Need for Affiliation (n-affil)
2) Need for Power(n-pow)
3) Need for Achievement(n-ach)