Entrepreneurship Development Cycle
Entrepreneurship Development Cycle : Entrepreneurship Development Cycle Entrepreneurship Development Cycle Generating entrepreneurial awareness in the community through well planned publicity. Identifying and selecting potential entrepreneurs. Helping them through training to raise their motivational level. Improving their skills in modern management methods. Developing technical competence relevant to the product selected. Helping them to develop project report. Making available techno-economic information and project profiles. Helping entrepreneurs to select new products. Developing a data bank on new products and process available to target group. Creating forums for entrepreneurs to discuss their mutual problems and success. Evolving new products and processes available to the local situation. Public recognition of entrepreneurial excellence. Stimulatory Support sustaining Registration of the unit. Arranging finance of any type and fixed capital on working capital. Helping in purchase of plant and machinery. Providing land, shed, power, water, etc. for establishing the unit. Guidance for selecting and obtaining plant and machinery and layout. Issue of licenses for scarce raw materials. Granting tax relief and other types of subsidy. Offering management consultancy. Assisting in marketing the products either through reservation or assigning government quota purchase etc. Providing information related to the industry. Helping in modernization / products substitution. Additional financing for full capacity utilization. Deferring repayment/interest depending on the situation. Help and guidance in diagnosing the cause of failure or low production. Modification or change in legislation/policy affecting units. Product reservation/creation of new avenues for marketing. Quality testing and quality improvement at low cost . Creating common facilities which are not feasible in a single unit but are needed by the unit both in production and marketing organization.
Stimulatory Phase: Stimulatory Phase Generating entrepreneurial awareness in the community through well planned publicity. Identifying and selecting potential entrepreneurs. Helping them through training to raise their motivational level. Improving their skills in modern management methods. Developing technical competence relevant to the product selected.
Stimulatory Phase: Stimulatory Phase Developing a data bank on new products and process available to target group. Making available techno-economic information and project profiles Helping them to develop project report. Developing a data bank on new products and process available to target group. Creating forums for entrepreneurs to discuss their mutual problems and success. Evolving new products and processes available to the local situation. Public recognition of entrepreneurial excellence.
Support Phase: Support Phase This includes all such activities that help entrepreneurs in establishing and running their enterprises. The activities in this phase may include: Registration of the unit. Arranging finance of any type and fixed capital on working capital. Helping in purchase of plant and machinery. Providing land, shed, power, water, etc. for establishing the unit. Guidance for selecting and obtaining plant and machinery and layout.
Support Phase: Support Phase Issue of licenses for scarce raw materials. Granting tax relief and other types of subsidy. Offering management consultancy. Assisting in marketing the products Providing information related to the industry. These activities provide nurturance and remove many hurdles which are likely to cause sickness or discourage the new entrepreneurs.
Sustaining Phase: Sustaining Phase Activities in this phase are all those that help the entrepreneur in continuous, efficient and profitable running of an enterprise. The sustaining activities may include: Helping in modernization / products substitution. Additional financing for full capacity utilization. Deferring repayment/interest depending on the situation. Help and guidance in diagnosing the cause of failure or low production.
Sustaining Phase: Sustaining Phase Modification or change in legislation/policy affecting units. Creation of new avenues for marketing. Quality testing and quality improvement at low cost .
Institutions promoting entrepreneurship: Institutions promoting entrepreneurship The institutes which are involved in entrepreneurship development, research and training are: National Institutes National Institute of Small Industry Extension Training (NISIET) Entrepreneur Development Institute (EDI) National Institute for Entrepreneurship and Small Business Development (NIESBUD) Indian Institute of Entrepreneurship (IIE)
Institutions promoting entrepreneurship: Institutions promoting entrepreneurship Supporting Institutions Nationalized Banks Co-operative Banks Small Industries Development Bank of India (SIDBI) Industrial Development Bank of India (IDBI) Industrial Credit and Investment Corporation of India (ICICI) State Financial Corporation (SFC) National Bank for Agriculture and Rural Development (NABARD) Khadi and Village Industries Commission.
Institutions promoting entrepreneurship: Institutions promoting entrepreneurship The State (Regional Institutes) Technical Consultancy Organizations (TCOs) Commissioner of Industries District Industries Centres National Small Industries Corporation (NSIC) Non Governmental Organizations
Source:http://www.authorstream.com/Presentation/rupasitiwari1-1585444-entrepreneurship-development-cycle/
