 TOPIC -1 : Entrepreneurship- definition

Entrepreneurship has been described as the "capacity and willingness to develop, organize
and manage a business venture along with any of its risks in order to make a profit".

 TOPIC -2 : Definition of Entrepreneur

 TOPIC -3 : Characteristics of Entrepreneur

CHARACTERISTICS OF AN ENTREPRENEUR
An entrepreneur is a highly achievement oriented, enthusiastic and energetic individual. He
is a business leader. He has the following characteristics:
1) An entrepreneur brings about change in the society. He is a catalyst of change.
2) Entrepreneur is action-oriented, highly motivated individual who takes risk to achieve goals.
3) Entrepreneur accepts responsibilities with enthusiasm and endurance.
4) Entrepreneur is thinker and doer, planner and worker.
5) Entrepreneur can foresee the future, seize market with a salesman’s persuasiveness,
manipulate funds with financial talent and smell error, frauds and deficiencies with an auditor’s
precisions.
6) Entrepreneur undertakes venture not for his personal gain alone but for the benefit of
consumers, government and the society as well.
7) Entrepreneur builds new enterprises. He possesses intense level of determination and a desire
to overcome hurdles and solves the problem and completes the job.
8) Entrepreneur finds the resources required to exploit opportunities.
9) Entrepreneur does extraordinary things as a function of vision, hard work, and passion. He
challenges assumptions and breaks rules.
10)Although many people come up with great business ideas, most of them never act on their
ideas.
 TOPIC -4 : Characteristics/Qualities of Successful Entrepreneur
1. Willingness to take initiatives and assume risks
2. Hard work
3. Optimism
4. Self Confidence
 5. Ability to lead
6. Commitment to work
7. Systematic planning
8. Persuasion
9. Concern for employee’s welfare
10. Effective Strategist

 TOPIC -5 : Entrepreneur versus Manager

 TOPIC -6 : Entrepreneur versus Intrapreneur

Intrapreneurship is the act of behaving like an entrepreneur while working within a large organization.
Intrapreneurs are usually employees within a company who are assigned to work on a special idea or
project, and they are instructed to develop the project like an entrepreneur would. An intrapreneur is
an inside entrepreneur, or an entrepreneur within a large firm, who uses entrepreneurial skills without
incurring the risks associated with those activities.
  TOPIC -7 : Barriers/Problems to Entrepreneurship.
The barriers to entrepreneurship are classified as follows: Economic and Non Economic barrier

Following are the important l barriers to entrepreneurship:

A. Economic Barriers:
1 Lack of Seed Capital
2. Lack of Raw Material
3. Lack of Skilled and productive Labor
4 . Lack of Modern Technology

B Non Economic Barriers: (Personal and Social-political)

PERSONAL BARRIERS
Personal barrier are those barriers that are caused by emotional blocks of an individual.
Some of the personal barriers may be outlined as below:
1. Unwillingness to Invest Money
2. Lack of Confidence
3. Lack of Motivation
4. Lack of Patience
5. Lack of clear perception

SOCIAL-Political BARRIERS
The social attitude inhibits many people even from thinking of starting a business. The important
social barriers are as follows.
1) Low Status: - The society thinks that entrepreneurs are the people who exploit the society. Thus
the attitude of the society towards entrepreneurs is not positive.
2) Custom and Tradition of People: - Most people want a real job. Even parents who are
entrepreneurs wouldn’t like their children to be entrepreneurs. Thus lack of support from society and
family hinder the growth of entrepreneurs.
3. Legal Constraints

 TOPIC -8 : Role of entrepreneurship in Economic Development.

 TOPIC -9 :. Growth of small scale industries in developing countries
 TOPIC -10 :. Relationship between Small scale and large scale Industries
 TOPIC -11 :. Characteristics of small scale industries
 TOPIC -12 :Types of small scale industries

TOPIC 13 ON NEXT PAGE
 TOPIC -13 :. Demand based and resources based ancillaries and sub-control
types
Classification of SSI on the basis of reason for their inception:
TOPIC -14 :. Government policy for small scale industry
 TOPIC -15 :Role of small scale industries in the national economy
TOPIC 16 ON NEXT PAGE
TOPIC -16 :. Stages in starting a small scale industry
 TOPIC -17 :. Classification of Project
Project classification helps in expressing and highlighting the essential features of project.
Different authorities have classified projects differently. The following are some of the important
classification of projects.
(1) Quantifiable and Non-Quantifiable Projects
Quantifiable projects are those in which possible quantitative assessment of benefits can be
made. Non-quantifiable projects are those where such assessment is not possible. Projects
concerned with industrial development, power generation, mineral development fall in the first
category while projects involving health, education and defense fall in the second category.
(2) Sectional Projects
Here the classification is based on various sectors like
● Agriculture and allied sector
● Irrigation and power sector
● Industry and mining sector
● Transport and com munication sector
● Information technology sector
● Miscellaneous
(3) Techno-Economic Projects
Classification of projects based on techno-economic characteristic fall in this category. This type
of classification includes factors intensity-oriented classification, causation oriented classification
as discussed below.
(a) Factor intensity-oriented classification: Based on this projects may be classified as capital
intensive or labor intensive if large investment is made in plant and machinery the project will be
termed as capital intensive. On the other hand project involving large number of human
resources will be termed as “labor intensive”.
(b) Causation-oriented classification: On the basis of causation, projects can be classified as
demand based and raw material based projects. The availability of certain raw materials, skills or
other inputs makes the project raw-material based and the very existence of demand for certain
goods or services make the project demand-based.
(c) Magnitude-oriented classification: This is based on the size of investment involved in the
projects, accordingly project are classified into large scale, medium-scale or small-scale projects.
.

TOPIC -18 :. Project identification

The selection of a project consists of two main steps: Project identification and project selection.
The project identification can be done in two steps: Idea Generation and Project selection

IDEA GENERATION
The process of project selection starts with idea generation. In order to select most promising and profitable
project, the entrepreneur has to generate large number of ideas about the possible projects he can take. The
project ideas can be discovered from various internal and external sources. These may include:
(i) Knowledge of potential customer needs.
(ii) Personal observation of emerging trends in demand for certain products.
(iii) Scope for producing substitute product.
(iv) Trade and professional magazines which provide a very fertile source of project ideas.
(v) Departmental publications of various departments of the government.
(vi) Success stories of known entrepreneurs or friends or relatives.
(vii) A new product introduced by the competitor.
(viii) Ideas given by knowledgeable persons.
All these sources putting together may give few ideas about the possible projects to be examined among which
the project must be selected. After going through these sources if an entrepreneur has been able to get six project
ideas, one project idea will be finally selected going through the following selection process:

TOPIC -19 :. Project Formulation

Project formulation is the systematic development of project idea for the final decision in
investment. It is needed to safeguard against risks and difficulties in the implementation of the
project. It involves step by step investigation and development of project idea. A team of
Industrial Economist, Market analyst, Technologist or Engineer, Management accounting expert,
Construction Engineer, Industrial Engineer is formed to invest the project idea .

Project formulation is an analytical management aid to take most effective project decisions.
Project formulation includes the following by a flow chart.