Tag: organization of commerce and management

An entrepreneur always does systematic planning. An entrepreneur plans for what he/she expects from a business. He breaks down a large business tasks in to small parts. Systematic Planning is one of the competencies,laid down by EDI states that breaking the complex whole in to parts,close examination of the parts and inferring about the whole,contributes towards entrepreneurial performance and success.

Entrepreneurship Development Programmes aims at building or developing the entrepreneurship skills and potentials among an individual. The major objectives of the EDPs program are to anable to communicate clearly and effectively, to acquire the necessary managerial skills required to run a small scale industry and to analyse environmental set up relating to small industry and small business.

A business plan consists of the details of activities or small plans that need to  be carried out to achieve the business main plan. It consists of market analysis, risk factors that can affect the business and executive summary. Market analysis helps to analyse the factors affecting the business, risk factors helps in knowing the risks that a business will face and executive summary helps in knowing the overall plan in brief.

Entrepreneurship development Program aims at building or developing entrepreneurship skills and potentials within an individual. Entrepreneurship Development Institute of India is a premier institute and is a National Institution in the area of entrepreneurship education research and development in India.

Entrepreneurship Development Programmes aims at building or developing the entrepreneurship skills and potentials among an individual. They assist in accelerating the pace of industrialization in the backward areas and reduce the concentration of economic power in the hands of a few.

Entrepreneurship is the process of bringing something new in to existence whether its a business, idea,process or product. Bringing something new means innovation.Entrepreneurship is the incubator of the innovation.Innovation means bringing in to existence something new may be a product, service,idea or solution. Innovation is the process of bringing the best ideas in to reality, which triggers a creative idea, which generates a series of innovative events.

An economist Alferd Marshall was the one who brought in the concept of entrepreneurship for the first time in 1890s. To An economist, an entrepreneur is one who brings resources,labour,materials and other assets together to make value greater than before.

Lack of persuasion is the personality factor that affects entrepreneurship. Lack of persuasion leads to lack of communication and creates hindrance in influencing others.

Entrepreneurship means setting up a business with some innovative ideas and creative thinking by assuming financial and other risks. The process by which individuals pursue opportunities without regard to resources they currently control. It is the pioneering zeal that provides prosperity in every arena of human life be it economic, technological and cultural.

The increasing advancement in technology at affordable prices have made working of various businesses available to entrepreneurs. This is a shift from industrial economy to a service economy of entrepreneurs providing numerous services, leading to a greater knowledge and education for developing entrepreneurial skills.