ENTREPRENEURIAL DEVELOPMENT PROGRAMMES:

NEED AND OBJECTIVES

SUBMITTED TO: SUBMITTED BY:

Dr. Alok Kumar Rai Mohd. Asif Ansari
MBA 3rd sem (Marketing)
Roll No. 17
 Entrepreneurial Development Programmes (EDPs)
Entrepreneur is the person with a vision, with the drive and ability to bear risk. It is said that
economy is an effect for which entrepreneurship is the cause. Entrepreneurial development
has, therefore become a matter of great concern in all developed and developing countries all
over the world. But the real problem is how to develop entrepreneurship. Entrepreneurial
development programmes (EDPs) are deemed to offer the solution to this problem.

EDPs by various institutes, corporate and government:

 MIT Sloan School of Management Cambridge, Massachusetts, USA

The MIT Edge

Entrepreneurship is an evolving discipline, and MIT is at the vanguard of that evolution. From
the Institute’s first “New Enterprises” course launched in 1961 to the founding of the MIT
Entrepreneurship Center in 1996, MIT has played a major role in shaping modern entrepreneurial
concepts and best practices. MIT’s programs are powered by leading-edge technology and
breakthrough business research, and offer extraordinary opportunities for those wishing to study
entrepreneurship. In addition to its leadership in the development of new technologies, MIT has
an unparalleled track record of driving technology from the lab to the marketplace. MIT’s
entrepreneurial network has created more than 5,000 new firms with combined annual sales of
over $200 billion.

Coca Cola: The Entrepreneur Development Program in South Africa

Coca Cola’s Southern Africa division, in conjunction with local bottling companies,
have developed the Entrepreneurs Development Program in South Africa to help new
entrepreneurs enter the supply chain and profit from new sustainable business
ventures.

The objective of the entrepreneur development program was to encourage and facilitate
the entry of new business people into the Coca Cola system. The program targets
specifically micro entrepreneurs in undeveloped markets who can enter the Coca Cola
value chain to generate income and profits for themselves.

Women in the New Network for Entrepreneurial Reinforcement (WINNER)

WINNER works to promote the role of women in the management of micro- small- and
medium-sized enterprises. WINNER is a global project, currently operational in Albania,
Bangladesh, China, Ecuador, Nepal, Philippines, Romania and Zimbabwe. It seeks to strengthen
the practical and technical skills of women entrepreneurs through the application of basic
training on information and communication technologies. Beneficiaries receive training on e-
commerce, international trade, fair trade, business management and gender issues with a view
towards promoting accesses to local, regional and international markets.

Need for EDPs:

Entrepreneurs possess certain traits or competencies. Traits or
competencies are underlying characteristics of entrepreneurs which result in superior
performance. There is always difference of opinions if the entrepreneurs are born or made.
There have been some researches made to seek the answer, if entrepreneurs are born or
made. A well known behavioral scientist David McClelland at Harvard University made an
interesting investigation into why certain societies displayed great creative powers at particular
period of their history? He found that need for achievement was the answer to this question.

In order to answer the next question whether this need for achievement could be
induced, he conducted a five-year experimental study in one of the prosperous district of
Andhra Pradesh in India in collaboration with Small Industries Extension and Training Institute
(SIET), Hyderabad. This experiment is popularly known as Kakinada Experiment. Under this
experiment, persons selected, put through three month training programme and motivated to
see fresh goals. One of the significant conclusions of the experiment was that suitable training
can provide necessary motivation to the entrepreneurs. The achievement motivation had a
positive impact on the performance of entrepreneurs.

In fact, it was Kakinada Experiment that made people appreciate the need for and
importance of the entrepreneurial training, now popularly known as EDP, to induce motivation
and competence among the young prospective entrepreneurs.
Objectives of EDPs:
The important objectives of Entrepreneurial Development Programmes (EDPs) are to:

1) Develop and strengthen their entrepreneurial quality, i.e., motivation or need for
achievement.
2) Analyze environmental set up relating to small industry and small business.
3) Select product.
4) Formulate project for the product.
5) Understand the process and procedure involved in setting up a small enterprise.
6) Know the sources of help and support available for starting a small-scale industry.
7) Acquire the necessary managerial skills required to run a small enterprise.
8) Know the pros and cons in becoming an entrepreneur.
9) Appreciate the needed entrepreneurial discipline.

Besides, some of the other important objectives of EDPs are to:

1) Let the entrepreneur himself/herself set or reset objectives for his/her business and
strive for their realization.
2) Prepare him/her uncertainty involved in running a business.
3) Enable him/her to take decisions.
4) Enable to communicate clearly and effectively.
5) Develop a broad vision about the business.
6) Make him subscribe to industrial democracy.
7) Develop passion for integrity and honesty.
8) Make him learn compliance with law.

Bibliography:

Entrepreneurial Development: Dr. S.S.Khanka

http://mitsloan.mit.edu/execed
http://mitsloan.mit.edu/execed

http://www1.winner-tips.org/
http://www.wbcsd.org