ed_ppt
TRANSCRIPT
-
7/31/2019 ed_ppt
1/35
-
7/31/2019 ed_ppt
2/35
Presented ByNAME ROLL NO
Pankaj Shirke 329
Snehal Meshram 332
Sumit Saurabh 336
Omkar Thakur 343
Vipul Shah 354
Pramod Salecha 362
Manish Jhawar 363
Animesh Jaiswal 364
-
7/31/2019 ed_ppt
3/35
Definitions Derived from French word Entreprendre means to
undertake.
Richard Carleton: a person who buys factors ofproduction at certain prices in order to combine theminto a product with a view to sell them at uncertainprices.
Considered as a risk bearer. Ex. Farmer pays definiteprice for seeds, fertilizers, pesticides, labours etc butnot certain at which price he could sell his produce.
-
7/31/2019 ed_ppt
4/35
QUALITIES OF ENTREPRENUERSMental ability: Intelligent person.
Organising ability: good organisation.
Hard work: ready to work for long hours.
Discipline: highly disciplined- everything to be in order for them.Clear objectives: regarding nature of business & products to be
produced.
Optimistic: highly optimistic- not disturbed by present problems-hope favourable future.
Risk taking: they like challenges.
H.R. ability: maintain good relations with other people
Emotional stability: have considerable amount of self-control-business pressure can be handled.
-
7/31/2019 ed_ppt
5/35
FUNCTIONS OF ENTREPRENUERS:
Market research
Idea generation
Product/ service analysis
Determination of business objectives: Main objectives,subsidiaries objectives, short term, long term.
Promotional formality: Getting license, clearance of govt.Formalities.
Raising Capital: Own capital/Issue of share/Borrowing loan.
Providing Infrastructure: Buying plant, Machinery, Land.
Selection of human resources: right people at right place.
Carrying out the Operations: where to purchase, scale ofproduction, fixing price, and advertisement mean etc.
-
7/31/2019 ed_ppt
6/35
ENTREPRENURESHIP
B. HIGGINS: The function of seeing investment &production opportunities; organising an enterprise toundertake a new production process; raising capital;hiring labour, arranging for raw material, finding a site& combining these factors of production into a goingconcern; introducing new techniques, newcommodities, discovering new sources of naturalresources & selecting top-managers for day-to-dayoperations.
-
7/31/2019 ed_ppt
7/35
Intrapreneurship There are people working in big org holding key
positions. They are quite innovative & bring manychanges in products & methods of production. Theypossess all qualities of an entrepreneur. Topmanagements in big organisations encourage peopleholding key positions to come out with new ideas sothat they can bring some changes in products &services. They are also known as enter corporateentrepreneurs or intraprenuers. They serve aschampions to others in the organisation.
-
7/31/2019 ed_ppt
8/35
DistinctionEntrepreneur Intraprenuer
1. Entrepreneur is employer 1. Intraprener is employee
2. Independent in operation 2. Depends on the organization toimplement his ideas.
3. Bears all the risk involved inenterprise.
3. Does not bear all the risk.
4. Exhibits higher need forachievement.
4. May not have high needachievement
5. Profit is the reward. 5. Attractive salary, promotion &incentives are the reward.
6. May not have formal qualification. 6. Should have some professional ortechnical qualification.
7. Do not have any boundary foroperations. 7. He has to operate within theorganisational policies.
-
7/31/2019 ed_ppt
9/35
CLASSIFICATION OF
ENTREPRENUERS INNOVATIVE ENTREPRENEUR: he is the one who
introduces a new product or a new method ofproduction or opens a new market or explore newsource of supply of raw material or carry out a newtype of organization. as per the Schumpeter innovativeentrepreneur are real entrepreneur.
IMITATIVE/ ADOPTIVE ENTREPRENEUR:are
those who imitate the successful entrepreneurs intechniques innovated by others.
-
7/31/2019 ed_ppt
10/35
DRONE ENTREPRENEUR: Drone entrepreneur arethose who never allow any change in their production& style of functioning. They never explore anything.They are also called Laggards. They are pushed out ofmarket when product loses its marketability.
FABIAN ENTREPRENEUR: are always cautious. Theyneither introduce new changes nor adopt newmethods invented by others. They are lazy. They followold customs, old method of production, techniques.
-
7/31/2019 ed_ppt
11/35
ENTREPRENEURIAL MOTIVATIONINTERNAL FACTORS
Strong desire to do something new.
To be independent in Life. Making the maximum use of technical/professional
knowledge.
Occupational experience/background.
Passionate about particular activity.
Dissatisfaction with present job.
To attain self-satisfaction.
-
7/31/2019 ed_ppt
12/35
EXTERNAL FACTORS
Utilizing Government grants & subsidiaries.
To continue ancestor business. Financial assistance from Institutions.
Availability of resources.
Encouragement from big business houses.
Availability of sick units/ easy financial terms.
Encouragement from family members.
-
7/31/2019 ed_ppt
13/35
Barriers to entrepreneurship1. Economic barriers
2. Non economic barriers
3. Personal barriers
-
7/31/2019 ed_ppt
14/35
-
7/31/2019 ed_ppt
15/35
Non economic barriers Cultural block/Tradition binding
Practical values
Importance of logic Respect for entrepreneurs
Emotional block
-
7/31/2019 ed_ppt
16/35
Personal barriers Lack of sustained motivation
Difficulty with ambiguity
Inability to dream and use subconscious Risk avoidance
Lack of clean perception
Impatience in solving problem
-
7/31/2019 ed_ppt
17/35
Barriers of Woman Entrepreneurs Family ties
Social attitude towards woman
Low mobility Male dominance
Lack of education
Non-availability of finance
Sever competition No risk bearing capacity
Too much dependence on middlemen
-
7/31/2019 ed_ppt
18/35
Problems of New Ventures Financial Problems
Administrative Problems
Marketing Problems Production Problems
-
7/31/2019 ed_ppt
19/35
Financial Problems Long term capital
Working capital
Recovery Taxation
Inadequate finance
-
7/31/2019 ed_ppt
20/35
-
7/31/2019 ed_ppt
21/35
Marketing Problems Lack of knowledge about the market
Competition from large industries
Branding problems Distribution problems
Inadequate advertising and sales promotion
Poor bargaining power Unfamiliarity with export procedures and market
-
7/31/2019 ed_ppt
22/35
Production Problems
Shortage of raw material
Underutilized capacity
Poor quality control Inadequate utility services
Problem of outdated technology
Low scale of production
Lack of standardization
-
7/31/2019 ed_ppt
23/35
ACTS & REGULATIONS1. Factories Act
2. Industrial Dispute Act
3. Workmens Compensation Act4. Trade Union Act
5. Payment of Wages Act
6. ESI Act
-
7/31/2019 ed_ppt
24/35
-
7/31/2019 ed_ppt
25/35
It regulates the conditions of employment of youngpersons & females.
It also provides for safe & healthy working conditionsinside the factories.
It requires the employer to take certain minimum stepsfor the welfare of workers.
It brings out uniformity regarding certain matters suchas leave with wages, no of working hours etc.
-
7/31/2019 ed_ppt
26/35
2. Industrial Dispute Act This act has been enacted to give security to workers
regarding better conditions of work.
It ensures the workers in decent standard of living.
It defines employer, pay & wages, industry, industrialdisputes & workmen.
It also defines a strike / lockout shall be illegal.
It lays down / specifies conditions necessary for thevalidity of lockouts/layoffs(a temporary stoppage ofparticular worker/ their group), retrenchment ofworkers.
-
7/31/2019 ed_ppt
27/35
It also lays down the method of calculation ofcompensation & extent of compensation period.
Extent of compensation payable to workers being ledof retrenchure.
It lays down procedures of conciliation & awards ofjudgment.
-
7/31/2019 ed_ppt
28/35
3. Workmen's Compensation Act This Act protects the workers from hardships arising
out of accidents during working hours or while onwork.
It provides for payment of compensation by certainclasses of employers to their workmen for injuriescaused by accidents.
It indirectly helps to reduce the no of accidents. It also provides for cheaper & quicker disposal of
disputes relating to compensation through specialtribunals.
-
7/31/2019 ed_ppt
29/35
Worker can also file a civil suite for damages againstthe employer. However the worker has to choosebetween two rights;
1. civil suite
2.claim under workmens compensation
-
7/31/2019 ed_ppt
30/35
4. Trade Union Act
This act provides for the registration of trade union.
It defines the law relating to registered trade union.
It lays down the procedure for registration of tradeunions.
It defines rights & liabilities of trade union.
It mentions the objects on which a trade union may
spend its general fund. It provides for constitution of separate fund for
political purposes.
-
7/31/2019 ed_ppt
31/35
It defines workmen, trade dispute, trade union,employer etc.
The aim of act is to regulate trade union.
-
7/31/2019 ed_ppt
32/35
5. Payment of Wages Act To ensure that industrial worker receive payment of
their wages at regular intervals & date.
No unauthorized deductions are made from the wages.
It defines factory, industrial establishment & wages.
-
7/31/2019 ed_ppt
33/35
6. ESI Act Employees State Insurance Act
The insured worker has given some benefit out of fundcreated by contributions from insured person, hisemployer & state government whenever contingencieslike sickness, maternity & employment injuryhappens.
The Act contains provisions regarding the grant ofbenefits in the event of said contingencies.
-
7/31/2019 ed_ppt
34/35
-
7/31/2019 ed_ppt
35/35