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    Entrepreneur 6

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    Deependra Singh Rajput
    The document outlines the steps to establish an entrepreneurial system: 1) Search for business ideas from various sources like observing markets, customers, other nations' developments, and trade fairs. 2) Process the ideas by evaluating technical and commercial feasibility through preliminary testing and detailed analysis. 3) Select the best idea based on factors like government policies, market profitability, and personal preference. 4) Assemble necessary input resources like information, capital, finance, personnel by researching the market, competition and suppliers. 5) Establish the enterprise by taking action to formally create the business.

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    Entrepreneur 6

    Uploaded by

    Deependra Singh Rajput
    5 views9 pages
    The document outlines the steps to establish an entrepreneurial system: 1) Search for business ideas from various sources like observing markets, customers, other nations' developments, and trade fairs. 2) Process the ideas by evaluating technical and commercial feasibility through preliminary testing and detailed analysis. 3) Select the best idea based on factors like government policies, market profitability, and personal preference. 4) Assemble necessary input resources like information, capital, finance, personnel by researching the market, competition and suppliers. 5) Establish the enterprise by taking action to formally create the business.

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    The document outlines the steps to establish an entrepreneurial system: 1) Search for business ideas from various sources like observing markets, customers, other nations' developments, and trade fairs. 2) Process the ideas by evaluating technical and commercial feasibility through preliminary testing and detailed analysis. 3) Select the best idea based on factors like government policies, market profitability, and personal preference. 4) Assemble necessary input resources like information, capital, finance, personnel by researching the market, competition and suppliers. 5) Establish the enterprise by taking action to formally create the business.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as ppt, pdf, or txt
    5 views9 pages

    Entrepreneur 6

    Uploaded by

    Deependra Singh Rajput
    The document outlines the steps to establish an entrepreneurial system: 1) Search for business ideas from various sources like observing markets, customers, other nations' developments, and trade fairs. 2) Process the ideas by evaluating technical and commercial feasibility through preliminary testing and detailed analysis. 3) Select the best idea based on factors like government policies, market profitability, and personal preference. 4) Assemble necessary input resources like information, capital, finance, personnel by researching the market, competition and suppliers. 5) Establish the enterprise by taking action to formally create the business.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
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    of 9

    Establishing Entrepreneurial Systems

    Steps

    Search for business ideas Process the ideas Select the best idea Assembly the necessary input resources Establish the enterprise

    Search for business ideas

    Sources of ideas:

    Observing markets Prospective customers Development in other nations Study of project profiles Government organisations Trade fairs and exhibitions

    Process the ideas

    Preliminary evaluation and testing of ideas


    Technical feasibility Commercial viability

    Detailed analysis

    Select the best idea

    Based on:

    Government Policies-subsidy, export, import, licensing, etc. Market Profitability Future Personal preference

    Assembly the necessary input resources

    The main inputs:

    Information and intelligence-data on:


    Size and nature of demand Volume and sources of supply Price cost volume relationship Sources of raw material Technology, material and equipment Manpower type, number & source

    Assembly the necessary input resources


    Amount and source of capital

    Competition
    Government policies

    Finance Personnel

    Take the plunge Establish the enterprise

    Questions???

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