MANAGEMENT AND

ENTREPRENEURSHIP
FOR IT INDUSTRY
ASSIGNMENTS

NAME : AVANISHRI.PB
USN : 1OX20CS024
CLASS : 5A
DATE : 09/01/2023
BRANCH : CSE
ACADEMIC YEAR : 2022-23
 ASSIGNMENT-1
Q.RECRUITMENT AND SELECTION
Recruitment : Once the requirement of manpower is known, the process of
recruitment starts. It can be defined as the process of identifying the sources
for prospective candidates and to stimulate them to apply for the jobs. It is the
process of generating of applications or applicants for specific positions.

Sources of Recruitment :
1. Re-employing former employee’s - who have been laid off or have left for
personal reasons may be re-employed. These people may require less
initial training than that needed by total strangers to the enterprise.
2. Friends and relatives of present employees - Some industries with a record
of good personnel relations encourage their employees to recommend
their friends and relatives for appointment in the concern where they are
employed.
3. Applicants at the gate - Unemployed persons who call at the gates of the
factories are interviewed by the factory representative and those who are
found suitable for the existing vacancies are selected.
4. College and technical institutions - Many big companies remain in touch
with the colleges and technical institutions from where young and talented
persons may be recruited.
5. Employment exchanges - An employment exchange is an office set up by
the government for bringing together those men who are in search of
employment and those employers who are looking for men.
6. Advertising the vacancy - one more source that is tapped by the companies
is advertising the vacancy in leading papers, websites, hoardings etc.
7. Labour unions- In companies with strong labour unions, persons are
sometimes recommended for appointment by their labour unions.
Selection : In selection process manager compares applicant’s qualifications
with the requirements of a job and eliminates all those who do not stand up to
this comparison.

Several advantages of a proper selection procedure :

1. As the employees are placed in the jobs for which they are best suited.

2. They derive maximum job satisfaction and reap maximum wages.

3. Labour turnover is reduced and the overall efficiency of the organisation is

increased.

4. And finally, a good relationship develops between the employer and the
employees.

Steps in the Selection Procedure :

1. Application blank - Filling of the application blank by the candidate is the
first step in the process of selection. In this form, the applicant gives
relevant personal data such as his qualification, specialisation, experience,
firms in which he has worked, etc. The application blanks are carefully
examined by the company and decide the applicants who are to be called
for interview.
2. Initial interview - Those who are selected for interview on the basis of
particulars furnished in the application blank are called for initial interview
by the company.
3. Employment tests - For further assessment of candidate’s nature and
abilities, some tests are used in the selection procedure. Some commonly
used tests are: Aptitude test , Interest test , Intelligence test, Job-specific
test , Personality test.
4. Checking references - If the candidate has been found satisfactory at the
interview and if his performance is good in employment or proficiency
tests, the employer would like to get some important personal details
about the candidate, such as his character, past history, background, etc.
verified from the people mentioned in the application.
5. Physical or medical examination - Physical or medical examination is
another step in the selection procedure. The objectives of this examination
 are: (i) To check the physical fitness of the applicant for the job applied for.
(ii) To protect the company against the unwarranted claims for
compensation. (iii) To prevent communicable diseases entering the
business concern.
6. Final interview - This interview is conducted for those who are ultimately
selected for employment. In this interview, the selected candidates are
given brief introduction about company and their role.
 ASSIGNMENT-2
Q.VARIOUS STAGES OF ENTREPRENEURSHIP
Stages in the development of the entrepreneurial process :
1. Perceiving , identifying and evaluating opportunity.

2. Drawing up a business plan.

3. Marshalling resources.

4. Creating the enterprise.

5. Consolidation and management.

Perceiving , identifying and evaluating opportunity : An

entrepreneur has to be alert to the opportunities and possibilities that arises
in the market from time to time. Opportunity knock the door of every
entrepreneur only few seize them and convert them. Opportunities have to be
not only identified but also analysed with respect to the following. It involves
length of opportunity, its real perceived value its risks & resources, with
personal skills goals of entrepreneur & its uniqueness or differential
advantages in its competitive environment.

Drawing up a business plan : A business plan is nothing but a

description of the future direction of the business. A good business plan is very
essential to develop the opportunity and to determine the resources received.
It formulates all plans Technology plan, Financial plan, Organization plan,
Production & operation plan, Marketing & distribution plan.

Marshalling resources : An Entrepreneur should have good idea of the

various resources required with respect to quality, quantity, prices and
sources. The entrepreneur identifies the sources from where the finance and
the human resource can be arranged.

Creating the enterprise : An entrepreneur has to be aware of the legal

and practical hurdles that he has to face in the process of physically creating
his business. An entrepreneur decides on the future prospects of the business,
i.e. its growth and development. Here, the actual growth is compared against
the planned growth and then the decision regarding the stability or the
expansion of business operations is undertaken accordingly, by an
entrepreneur.
 ASSIGNMENT-3
Q.INTELLECTUAL PROPERTY RIGHTS (IPR)
Introduction to IPR :
Intellectual property is an asset for an entrepreneur. It consists of certain
intellectual creations by entrepreneurs or their staffs that have commercial
value and are given legal property rights. Example of such creation are a new
product and its name, a new method, a new process, a new promotional
scheme and a new design.

A fence or a lock cannot protect these intangible assets. Instead, Patents,

Copyrights and Trademarks are used to prevent competitors from benefiting
from an individual’s or firm’s ideas.

Protecting intellectual property is a practical business decision. The time and

money invested in perfecting an idea might be wasted if others could copy it.
Competitors could charge a lower price because they did not incur the start-
up costs. The purpose of intellectual property law is to encourage innovation
by giving creators time to profit from their new ideas and to recover
development costs.

Intellectual property rights can be sold, licensed or given away freely. Some
business have made billions of dollars by licensing or selling their patents or
trademarks. Every entrepreneur should be aware of intellectual property
rights to protect these assets in a world of global markets. An intellectual
property lawyer can provide information and advice.

The main forms of intellectual property rights :

Patents : A patent grants an inventor the rights to exclude others from
making, using, offering for sale or selling an invention for a fixed period – in
most countries, for up to 20 years. When the period ends, the patent goes into
the public domain and anyone may use it.
Copyrights : Copyrights protect original creative works of authors,
composers and others. In general, a copyright does no protect the idea itself,
but only the form in which it appear- from sound recordings to books,
computer programs or architecture. The owner of copyrighted material has
the exclusive right to reproduce the work, prepare derivative works, distribute
copies of the work, or perform or display the work publicly.

Trade Secrets : Trade secrets consist of knowledge that is kept secret to

gain advantage in business. “Certainly, secret processes, formulas, techniques,
manufacturing know-how, advertising schemes, marketing programs and
business plans are all protectable.” Trade secrets are usually protected by
contracts and nondisclosure agreements. No other legal form of protection
exists. The most famous trade secret is the formula for Coca Cola, which is
more than 100 year old. Trade secrets are valid only if the information has not
been revealed. There is no protection against discovery by fair means such as
accidental disclosure, reverse engineering or independent invention.

Trademarks : A trademark protects a symbol, word or design used

individually or in combination to indicate the source of goods and to
distinguish them from goods produced by others. For example, Apple
customer uses a picture of an apple with a bite out of it and the symbol ( )
which means registered trademark. A service mark similarly identifies the
source of service.

Trademark and service marks give a business the right to prevent others from
using a confusingly similar mark. In most countries, trademarks must be
registered to be enforceable and renewed main in force. However, they can
be renewed endlessly.