Entrepreneurship, namely the importance of getting ideas for an enterprise, how to get ideas, identifying the appropriate trade, factors to consider in selecting a business, factors to consider in deciding to initiate an enterprise, and the functions of an enterprise.
The details of the topics discussed during the session are as follows:
1. Importance of Getting Ideas for an Enterprise
�� Basic ideas are required in all cases to perform any work successfully
�� One should acquire the basic concepts of entrepreneurship before getting involved in running an enterprise
�� This knowledge helps an entrepreneur to run the enterprise smoothly and also to explore the possibility of taking new initiatives
�� It also helps in correct decision making
2. How to Get Ideas
�� Consult with those who are currently in the business
�� Observe other enterprises to identify problems and think about possible solutions
�� Discuss with friends and neighbours
�� Get ideas from the existing available merchandise in the market
3. Identifying the Appropriate Trade
�� Be selective in identifying one’s trade.
�� Select according to the ability and interest of the entrepreneur.
�� Decide only after getting enough relevant information about a particular trade or business. It will help to:
• run the business smoothly
• avoid loss from major mistakes
4. Factors to Consider in Selecting a Business
�� Possibilities of success
�� What risks are involved
�� Profitability
�� Attractiveness
5. Factors to Consider when Deciding about Initiating an Enterprise
�� Availability of experienced and knowledgeable persons to consult with
�� Mobilization of sufficient capital
�� Adequate demand for the products/goods in the market
�� Facility for marketing
�� Facility for storage of goods
�� Availability of raw materials
�� Ability to get support from Government
6. Functions of an Enterprise
�� Preparing business plan Surveying the market
�� Mobilizing capital Analyzing costs
�� Pricing goods Marketing products
�� Keeping accounts Identifying risk factors
�� Looking for ways to become self-reliant
From India, Gurgaon
9The details of the topics discussed during the session are as follows:
1. Importance of Getting Ideas for an Enterprise
�� Basic ideas are required in all cases to perform any work successfully
�� One should acquire the basic concepts of entrepreneurship before getting involved in running an enterprise
�� This knowledge helps an entrepreneur to run the enterprise smoothly and also to explore the possibility of taking new initiatives
�� It also helps in correct decision making
2. How to Get Ideas
�� Consult with those who are currently in the business
�� Observe other enterprises to identify problems and think about possible solutions
�� Discuss with friends and neighbours
�� Get ideas from the existing available merchandise in the market
3. Identifying the Appropriate Trade
�� Be selective in identifying one’s trade.
�� Select according to the ability and interest of the entrepreneur.
�� Decide only after getting enough relevant information about a particular trade or business. It will help to:
• run the business smoothly
• avoid loss from major mistakes
4. Factors to Consider in Selecting a Business
�� Possibilities of success
�� What risks are involved
�� Profitability
�� Attractiveness
5. Factors to Consider when Deciding about Initiating an Enterprise
�� Availability of experienced and knowledgeable persons to consult with
�� Mobilization of sufficient capital
�� Adequate demand for the products/goods in the market
�� Facility for marketing
�� Facility for storage of goods
�� Availability of raw materials
�� Ability to get support from Government
6. Functions of an Enterprise
�� Preparing business plan Surveying the market
�� Mobilizing capital Analyzing costs
�� Pricing goods Marketing products
�� Keeping accounts Identifying risk factors
�� Looking for ways to become self-reliant
From India, Gurgaon
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Chapter XVIII - The Management of New Product Development and Entrepreneurshi p.ppt
TRAINING GAME 2 - Learning new concepts.doc