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EDUCATION FOR

ENTREPRENEURSHIP
EDUCATION FOR
ENTREPRENEURSHIP

Created By
TUSHTI SHARMA
INTRODUCTIO
N
INTRODUCTION
INDIA a young Nation of <60years
of Independence setting out on a
path of sustained economic
growth

Current years the ongoing


interest in entrepreneurship has
increased

For growth of new businesses as


well as economic development
INTRODUCTION (contd.)

Within the next 20 years,


we will have 400 million
people below the age of
35 years will be in the
prime of his or her life,
striving for a better
tomorrow

Thus creating, in the


process, new growth
opportunities, for budding
entrepreneurs!
INTRODUCTION (contd.)

"Made in India" tag is now an increasingly


respected brand, valued for quality, reliability,
and competitiveness.
How EDUCATION
contributes in developing
ENTREPRENEURSHIP
How Education
contributes in developing
Entrepreneurship
 Creating a more
entrepreneurial culture
 Promoting entrepreneurial
skills and attitudes
 Nurturing personal
qualities in young people
by enhancing their
4. creativity,
5. spirit of initiative,
6. responsibility,
7. capacity of confronting
risks,
8. independence
OBJECTIVES OF
EDUCATION FOR
ENTREPRENEURSHIP
- OF EDUCATION FOR ENTREPRENEURSHIP

 Promoting the development


of personal qualities
 Offering early knowledge
of and contact with the
world of business
 Raising students’
awareness of self-
employment
 Organizing activities based
on learning by doing
 Providing specific training
Some Famous
Entrepreneurs Of India
Entrepreneurs Of India

Mr. Patel of Nirma who


was a chemist’s
assistance once and
now he has a Rs. 2500
crore company today
Entrepreneurs Of India

The original Mr. Bata was


a cobbler and now has
stores in more than 30
countries all over the
world
Entrepreneurs Of India

Lakshmi Mittal, the steel


giant .He is the fourth
richest person in the
world
Entrepreneurs Of India

Sabeer Bhatia, the


pioneer in the field of
first web based e-mail -
The Hotmail.

'Entrepreneur of the
Year 1997'
Entrepreneurs Of India

NR Narayana Murthy,
chairman of Infosys
Technologies one of
the biggest IT empire in
India.
'Businessman of the
Year 1999'
Entrepreneurs Of India

Kiran Mazumdar-
Shaw's pioneering
efforts in biotechnology
for Biocon Industry
"India's Biotech
Queen" by The
Economist and
"India's mother of
invention" by New
York Times
Entrepreneurs Of India

Shahnaz Husain Group,


one of the largest
producers of ayurvedic
and herbal products in
the world
MEANING AND
DEFINITION OF
ENTREPRENEUR AND
ENTREPRENEURSHIP
MEANING OF ENTREPRENEUR

Entrepreneur is derived from the French word


‘entreprendre’ which means "to undertake." In a
business context, it means to start a business.
WHO IS AN ENTREPRENEUR?
 Entrepreneur is a person having
specific skill, ability,
knowledge, awareness and
self-confidence who bears the
risk of operating a business in
the face of uncertainty about the
future conditions.
WHO IS AN ENTREPRENEUR?
 Entrepreneurs serve an important role in
enabling the economy to adapt to changing
conditions and new possibilities for material
improvements by creating new production
organizations, and even whole new
industries.
QUALITIES OF A GOOD
ENTREPRENEUR
 Technical
competence
 Initiative
 Good judgement
 Leadership qualities
 Creativeness
DEFINITION OF AN
ENTREPRENEUR
 J.B. Say: “An entrepreneur is an economic agent
who unites all means of production- land of one, the
labour of another and the capital of yet another and
thus produces a product. By selling the product in
the market he pays rent of land, wages to labour,
interest on capital and what remains is his profit. He
shifts economic resources out of an area of lower
and into an area of higher productivity and greater
yield.”
 Adam Smith :” A person who only provides capital
without taking part in the leading role in enterprise.”
ANATOMY OF AN
ENTREPRENEUR
MEANING OF
ENTREPRENEURSHIP
 Entrepreneurship is a process undertaken by
an entrepreneur to establish and to develop a
new enterprise. It is a process of converting the
idea of establishing an enterprise into its
implementation.
 Entrepreneurship is a discipline with a
knowledge base theory. It is an outcome of
complex socio-economic, psychological,
technological, legal and other factors. It is a
dynamic and risky process.
MEANING OF
ENTREPRENEURSHIP
 It involves a fusion of capital, technology and
human talent. Entrepreneurship is equally
applicable to big and small businesses, to
economic and non-economic activities.
 Entrepreneurship is a philosophy- it is the
way one thinks, one acts and therefore it can
exist in any situation be it business or
government or in the field of education,
science and technology or poverty alleviation
or any others.
MEANING OF
ENTREPRENEURSHIP
 Innovation is by far the primary factor that
governs the very creation of a small business
or entrepreneurship.
DEFINATION OF
ENTREPRENEURSHIP

 According to Peter Drucker


Entrepreneurship is defined as ‘a
systematic innovation, which consists in the
purposeful and organized search for
changes, and it is the systematic analysis of
the opportunities such changes might offer
for economic and social innovation.’
RELATION

 Entrepreneurship is the most effective way


of bridging the gap between science and the
market place by creating new enterprises.
 An entrepreneur is the catalyst who brings
about this change
DIFFERENCE BETWEEN AN
ENTREPRENEUR &
ENTREPRENEURSHIP
 The term entrepreneur is used to describe
men and women who establish and manage
their own business. The process involved is
called entrepreneurship.
 Entrepreneurship is an abstraction whereas
entrepreneurs are tangible people.
DIFFERENCE BETWEEN AN
ENTREPRENEUR &
ENTREPRENEURSHIP
 Entrepreneurship is a process and an
entrepreneur is a person.
 Entrepreneurship is the outcome of complex
socio-economic, psychological and other
factors. Entrepreneur is the key individual
central to entrepreneurship who makes things
happen.
DIFFERENCE BETWEEN AN
ENTREPRENEUR &
ENTREPRENEURSHIP
 Entrepreneur is the actor, entrepreneurship
is the act.
 Entrepreneurship is the most effective way
of bridging the gap between science and the
market place by creating new enterprises. An
entrepreneur is the catalyst who brings
about this change will achieve sustainability
only when support is provided both at the
societal and governmental levels.
SCOPE OF EDUCATION FOR
ENTREPRENEURSHIP
SCOPE
SCOPE
It Promotes
independent thinking
and
SCOPE
It promotes Creativity
SCOPE
It Instills courage and
confidence to
take initiatives
SCOPE

Helps manage the enterprise in


a better way
SCOPE
Develops
leadership
qualities
SCOPE

Better marketing skills


NEED OF
EDUCATION FOR
ENTREPRENEURSHI
P
NEED
Education of
entrepreneurs help
them in the effective
creation of useful
goods and services
for consumers
NEED
Education helps
entrepreneurs in

 keeping account of
taxes and

 paying taxes in
time
NEED
Education helps the
entrepreneurs in
Innovating new
ideas which in turn
give them benefits
NEED

Education gives the entrepreneurs the required stability


in their business
NEED
 Education helps
entrepreneurs in promoting
export which in turn help
them in earning foreign
exchange
NEED

Education guides
entrepreneurs in
optimum utilization of
resources thus giving
them maximum
benefits
NEED
Education provides
knowledge of business
to people thus
increasing opportunity
of employment
NEED
Education of
entrepreneurs play a
remarkable role in
economic and industrial
development of a
country
ENTREPRENEURSHIP
EDUCATION ENRICHES
PRACTICAL
KNOWLEDGE
ENTREPRENEUR THE ARTS:
‘ADVANCING THE ART’

NOVEMBER 17-23, 2008

GLOBAL ENTREPRENEURSHIP WEEK


CALIFORNIA UNIVERSITY, U.S.A
HIGH INTELLIGENCE
 Able to analyze a
problem.

 Find its solution.


CREATIVE THINKING
 Convert an idea according to
the need .

 Establishes an enterprise
(business) into its
implementation.
LEADERSHIP QUALITIES

 Convert an idea
according to the need.

 Directs them to follow.


MANAGERIAL
EFFICIENCY
 Able to manage the
whole setup
efficiently.
INITIATIVE
 Confidence to start a
enterprise.

 And have the


confidence to take
benefits of available
opportunity.
RISK TAKING ABILITY
 Moderate risk taker.

 Learns from any


failure.
FORESIGHT
 Can look in to the
future market.

 To judge the
demand and
supply of the
material in which
he is dealing.
FLEXIBILITY

 Can easily adjust to


the any business
environment.

 Flexible to the new


ideas.
MOTIVATIONAL SKILL
 The art of getting things
done by others without
hurting their self
respect.

 Can motivate the


workers and employees
under him.
PROMPT DECISION
MAKING
 Can take the
important decision
promptly.

 In the rational way.


TECHNICAL EDUCATION
 Helps in to the technical
aspects of the
enterprise.

 Now day’s technologies


are being part and
parcel of any business.
COMMUNICATION
ABILITY
 Can able to communicate
with their customers,
employees, creditors
effectively.

 More likely to get the


success .
HUMAN RELATION ABILITY

 Maintain good relations with


employees, customers,
creditors, community.

 Good human relations are


reflective by emotional
stability, personal relation,
tactfulness.
AWARENESS ABOUT
RESPONSIBILITY

 More aware about


his business and
social responsibility.
COOPERATIVENESS

 Can work as part of a


a team

 Ability to co-operate
with other.
HIGH ENERGY LEVEL

 All the above abilities


of the entrepreneur
will make his energy
level high.
RELEVANCE OF
ENTREPRENEURSHIP
DEVELOPMENT PROGRAM
FOR RAPID INDUSTRIAL
DEVELOPMENT
 Entrepreneurs and
entrepreneurship are base
for industrial and economic
development.
 Entrepreneurship
Development Programme
(EDP) makes
entrepreneurs for creation
of entrepreneurship
environment.
 In India, in every five plan
year more and more
amount is allotted for
entrepreneurship
development.
FOR RAPID INDUSTRIAL
DEVELOPMENT(cont.)
FOR RAPID INDUSTRIAL
DEVELOPMENT(cont.)

 India’s Economy has experienced a robust growth in


the second quarter of the year 2006-07. The Gross
Domestic Product in the country increased at an
impressive rate of 9.2 percent per annuam.
FOR RAPID INDUSTRIAL DEVELOPMENT
(cont.)
Because of EDP, non-
a-day entrepreneurs
are on increasing in
engineering, chemical,
electrical, agricultural
etc. industries i.e. to
say that EDP plays a
crucial role for industrial
and economic
development
TO REMOVE OR REDUCE REGIONAL
INDUSTRIAL IMBALANCE .

 In industrial backward
zone, by arranging
EDP, qualities of
entrepreneurship can
be development in
people of such areas.
 Hence for balanced
industrial development,
Indian govt. has
designed incentive
plans in its industrial
policy.
TO REMOVE OR REDUCE REGIONAL
INDUSTRIAL IMBALANCE (cont.)

In industrial backward
zone, EDP arranges
various training programs
and makes individuals
aware about govt.
incentives as well train
them for entrepreneurship
development according to
opportunities available.
TO REMOVE OR REDUCE REGIONAL
INDUSTRIAL IMBALANCE (cont.)

In this way EDP helps


in removing or reducing
regional industrial
imbalance.
CREATION OF SUITABLE INDUSTRIAL
ENVIRONMENT FOR RAPID ECONOMIC
DEVELOPMENT.

For creation of industrial and entrepreneurship


environment, various institutions – CED, EDI, IDBI,
Exim bank, IFCI, State Finance Corporation, DIC etc
have given their active contribution.
CREATION OF SUITABLE INDUSTRIAL
ENVIRONMENT FOR RAPID ECONOMIC
DEVELOPMENT
 EDI’s various courses,
innovation centers,
entrepreneurship environment
and support system, strategic
international program, various
publications etc have played
an important role in creating
homogeneous
entrepreneurship environment
in the state and country.
 EDPs are arranged in rural,
semi-urban and urban areas.
CREATION OF SUITABLE
INDUSTRIAL ENVIRONMENT FOR
RAPID ECONOMIC DEVELOPMENT
 Hence in every area,
entrepreneurship
awareness is spread.
 Thus EDP plays
dominant role in
creating the most
suitable industrial
environment for rapid
economic development.
OPTIMUM UTILIZATION OF
AVAILABLE LOCAL RESOURCES
 Creation of suitable industrial environment for rapid
economic development.
 If such resources are utilized for production
purpose, new opportunities for local
entrepreneurship development and local
employment can be created and which lead towards
rapid industrial and economic development.
OPTIMUM UTILIZATION OF
AVAILABLE LOCAL RESOURCES
 Therefore by arranging
accordingly EDPs,
available local
opportunities can be
optimally utilized for
production purpose.
 More over, because of
creation of employment
opportunities, migration
of people towards
urban areas can also
be reduced.
HELPS IN REDUCING
UNEMPLOYMENT AND POVERTY
PROBLEMS

Since our first five plan, we are facing


unemployment and poverty problems .
HELPS IN REDUCING
UNEMPLOYMENT AND POVERTY
PROBLEMS

Govt. has designed various programs like rural development


program, prime minister employment plan etc. in this
direction.
TO PROTECT ENTREPRENEURS
FROM INDUSTRIAL MONOPOLY
 Some large industrial
units have created
monopoly conditions in
their zones.

 Hence govt. has been


forced to reserve some
goods and services for
cottage and small-scale
industries.
NEW SOURCES OF INCOME FOR
GOVT 
govt. gets income of
various taxes by
medium of venture
of new
entrepreneurs.
 Some export
oriented industrial
units help govt. in
earning foreign
exchange.
New sources of income for
govt
 Thus EDP indirectly
creates a new source of
income for govt. in the
form of tax.
 By EDP, entrepreneurs
can be trained and
prepared for such
reserve sectors and
large-scale sectors
cannot enter in such
reserve sectors
PROGRESS AND EXPANSION OF
SOCIAL WEALTH
 Because of growth of
industrialization in rural
areas, living standards of
rural areas have
remarkable changed.
 Government’s special
schemes for rural wealth
has been reached to actual
rural areas by EDP.
 EDP helps to divert
unorganized and hidden
youth of various areas
towards planned
industrialization.
DEVELOPMENT OF SOCIALISM
PHILOSOPHY

 Our economy has influence of both capitalism as well as


socialism
 In five year plans, role of socialism is very important.
 Because of establishment of EDP institutions, philosophy
of socialism has been spread at various levels through
utilization of unused local resources, establishment of
tiny, cottage, small and large scale industries, planned
economic development etc.
 Entrepreneurs have accepted concept of social
responsibility. In this way, EDP helps in extending the
philosophy of socialism
A vehicle for social –
economic revolution
 In rural, semi-urban areas,
with a view to direct women
towards self-employment
and freedom, special EDPs
are designed.

 EDPs have played very


determining role for bringing
poor, exploited and weaker
class of our society into
economic development.
TO DEVELOP AND UPGRADE
MANAGERIAL SKILLS

EDP is designed and implemented to develop


entrepreneurial opportunities for potential
entrepreneurs as well as to upgrade managerial
skills for the existing entrepreneurs.
CommuniTree

CommuniTree symbolizes our philosophy and


strategic approach for rural economic and
community development.
CONCLUSION
CONCLUSION

Education for Entrepreneurship is


compulsory
CONCLUSION

Entrepreneurship
enriches
PRACTICAL
KNOWLEDGE
CONCLUSION

Enterpreneurship
is required for the
growth of
NATIONAL
ECONOMY
CONCLUSION

Entrepreneurship
is required for the
Development of
our country