Words of the day

Acquisition:-A purchase of one company by

another (Taking ownership of another
business)
Outsourcing:-Obtain (goods or a service) by
contract from an outside supplier(Purchasing
standard operational services from another
business. Outsourced services typically
including accounting, payroll, IT, advertising,
and more)
Accretion:-Growth or increase by the gradual
accumulation of additional layers or matter(Growth
or increase in the value or amount of something)

Q1. What

are Factors Affecting Entrepreneurial Growth

Non-Economic Factors?

Culture
Religion
Class, Family and Tradition
Political Dependency
Social and Cultural Dependency
The Role of Government in Economic
Development
Education
Psychological- Need Achievement

Entrepreneurial Development
Program
(EDP)
A programme conducted to help a person in
strengthening his entrepreneurial motive and
in acquiring skill and capabilities required for
promoting and running an enterprise
efficiently.
A programme which is conducted with a
motive to promote potential entrepreneurs,
understanding of motives, motivational
pattern, their impact on behavior and
entrepreneurial value

Cont..
A well

designed EDP envisages three tiered

approach:
1. Developing achievement motivation and
sharpening entrepreneurial traits and
behaviour.
2. Guidance on industrial opportunities,
incentives, facilities and rules and
regulations.
3.Developing managerial and operational
capabilities.

Importance of EDP
An effective way to develop entrepreneurs
which can help in accelerating the pace of
socio-economic development, balanced
regional growth, and exploitation of locally
available resources.
It can also create gainful self-employment
An EDP equips entrepreneurs and makes
them competent to anticipate and deal with
a variety of problems that any entrepreneur
may have to face

Cont..

It gives confidence to the entrepreneur to face

uncertainties and take profitable risks. It prepares them
to deserve and make good use of various forms of
assistance.

Words of the day

Accumulation:-The acquisition or gradual
gathering of something (Collection or buy
data)
Across The Board:-Applying to all
(The involvement of everything in an
industry or company)
Ageism:-Prejudice or discrimination on the
grounds of a persons age (Ageism not
matter but Idea and zeal matter)

 What

Why

do you mean by EDP?

it is required for an
organization?

Objective of EDP
Designed with aim of encouraging self employed
Impart training and motivates potential & existing
entrepreneurs to start new business or diversity and
expand the existing one.
Help employment and wealth creation among educated
unemployed youth.
Well equipped to face risk & challenges as an
entrepreneur
Acquire the basic management Skills
To develop entrepreneurial opportunities for potential
Entrepreneur.

PROBLEMS OF EDP

No Proper Strategy
Difference in opinion (Management)
No Local Support
Poor follow up
No adequate research facility
Unplanned training Methodology
No clear cut objectives
Lack of clarity in approach
Selection of wrong person

Entrepreneurial Development
Cycle

Stimulatory

Entrepreneurial Education

Planned Publicity

Motivational Training of New Entrepreneurs

Help and guidance in selecting Products

and preparing project required.
Making available Product Profile
Evolving locally suitable new product
processes

Creation Entrepreneurial forum

Recognition of Entrepreneurial Skills.

Support
Registration of unit
Arranging Finance
Providing land, power, water etc.
Guidance for selecting machinery
Supply of raw materials
Getting licenses
Providing Information
Offering management consultancy

Sustaining
Help Modernsation
Help diversification/ expansion
Product Reservation
Quality testing and improving services
Need based common facilities centre
Policy changes
Diagnostic Industrial extension/
Consultancy sources

Specialized Institutions at National Level

National Institute for Entrepreneurship and
Small Business Development (NIESBUD)
Small Industries Service Institutes (SISI)
Entrepreneurship Development Institute of
India( EDI)
Institutes of Entrepreneurship Development
(IED)
Centre of Entrepreneurship Development
(CED)