Post on 03-Oct-2015
description
ENTREPRENEURSHIP
MANAGEMENT
Entrepreneurship Process
Prof Bharat Nadkarni
We have been programmed to follow the traditional form of life. We graduate from average colleges, settle for average jobs, come home every night to crash on our average beds, and then catch some rather average dreams.
But there are some of us, who break away from the conventional way of life to live their dreams.
Heading off on ones own is not a concept Indian techies or management students/ freshers are conditioned with. They prefer jumping on the shoulders of multinationals for securing their careers, thus conforming to societal pressures.
Entrepreneurship is about committing oneself 110 per cent to the business proposition that one is offering to the marketplace. The odds are heavily against an entrepreneur: he or she is often a novice, unconnected, with not much brand value, strapped on resources, etc. In this context, it is the commitment and burning desire to prevail and succeed that will carry him or her through in the initial years.Entrepreneurship is not taught but embedded, developed and nurtured. It is relatively easy to be creative (in terms of producing ideas) but it is infinitely more demanding for creative thinking to result in practical innovation (in terms of producing new goods and services).
Opportunity is a business concept, which if turned into a tangible product or service, by us, will result into profit and eventually a lifetime of commitment. It is all about creating a SUCCESS STORY.Parameters for assessment Market Potential Market Share Routes to Market Protection / Assessment of Risk Business ViabilityIs it worth?
Entrepreneurship Management
Entrepreneurship Management
The Entrepreneurship Process
Identify and Evaluate the Opportunity
Develop the Business Plan
Determine the Resources required
Manage the Resulting Enterprise
Entrepreneurship Management
Identify and Evaluate the OpportunityCreation and length of opportunity
Real and Perceived value of opportunity
Risk and Returns of opportunity
Opportunity Vs Personal Skills and Goals
Competitive Situations
Entrepreneurship Management
Develop the Business Plan
Marketing Plan
Financial Plan
Production Plan
Organisational Plan
Operational Plan
Entrepreneurship Management
Determine the Resources Required
Existing resources of Entrepreneur
Resource gap and available supplies
Access to needed resources
Entrepreneurship Management
Manage the Resulting Enterprise
Management Style
Key variables for success
Identification of threats
Implementation of control system
Entrepreneurship Management Economic Development & EntrepreneurshipFive human qualities which are conducive to economic development :
an interest in material well being
an interest in techniques and in innovation
an ability to look ahead, and in willingness to take risks
perseverance
an ability to collaborate with other people and to observe certain rules
Entrepreneurship Management
Presence of these qualities in individuals help a nation achieve faster economic development
Innovative entrepreneur puts the science and technology to economic use. They are the key to rapid industrialisation and thereby economic development.
Entrepreneur performs four major tasks
A. Exchange RelationshipB. Practical AdministrationC. Management ControlD. Technology
Entrepreneurship Management
A. Exchange Relationshipa. Perceiving opportunities in Marketb. Gaining command over scarce resourcesc. Purchasing inputsd. Marketing of products and responding to competition
B. Practical Administrationa. Dealing with public bureaucracyb. Management of human relations within the venturec. Management of customer and supplier relations
Entrepreneurship Management
C. Management Controla. Financial Managementb. Production ManagementD. Technologya. Acquiring and overseeing assembling of the factoryb. Industrial Engineeringc. Upgrading process and product qualityd. Introduction of new production techniques and productsAll above fields of activities involve entrepreneur in decision making under conditions of uncertainty.Balanced Regional Growth
Entrepreneurship Management Advantages of developing and encouraging entrepreneurship
Employment Generation
Distribution of economic power
Optimum utilisation of regional resources
Meeting the demand gap by seizing opportunity
Export potential
Regional development
Entrepreneurship Management
Thank You