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).

Entrepreneurship Management
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 Viability

Is it worth?

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 Opportunity

Creation 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 & Entrepreneurship

Five 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 Relationship
B. Practical Administration
C. Management Control
D. Technology

Entrepreneurship Management

A.

Exchange Relationship
a. Perceiving opportunities in Market
b. Gaining command over scarce resources
c. Purchasing inputs
d. Marketing of products and responding to
competition

B. Practical Administration
a. Dealing with public bureaucracy
b. Management of human relations within the
venture
c. Management of customer and supplier
relations

Entrepreneurship Management

C.

Management Control
a. Financial Management
b. Production Management

D. Technology
a. Acquiring and overseeing assembling of the
factory
b. Industrial Engineering
c. Upgrading process and product quality
d. Introduction of new production techniques
and
products
All above fields of activities involve entrepreneur in
decision making under conditions of uncertainty.

Entrepreneurship Management

Thank You