EDPM M5 L1 - edp notes PDF

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1 EDPM M5 L1

ENTREPRENEURSHIP DEVELOPMENT PROGRAMME (EDP) Definition: “Intelligence, motivation, knowledge, and opportunities as the prerequisites for entrepreneurial development”-Joseph Schumpeter ” Entrepreneurial Development Programme (EDP) may be defined as “a programme designed to help an individual in strengthening his entrepreneurial motive and in acquiring skill and capabilities necessary for playing his entrepreneurial role effectively.” OBJECTIVES OF EDPS The objective of this programme is to motivate an individual to choose the entrepreneurship as a career and to prepare the person to exploit the market opportunities for own business successfully. These objectives can be set both in the short-term and long-term basis.  Short-term objectives: These objectives can be achieved immediately. In the short-term, the individuals are trained to be an entrepreneur and made competent enough to scan existing market situation and environment. The person, who would be the future entrepreneur, should first set the goal as an entrepreneur. The information related to the existing rules and regulations is essential at this stage.  Long-term objectives: The ultimate objective is that the trained individuals successfully establish their own business and they should be equipped with all the required skills to run their business smoothly.

Other objectives: 1. Formulating the project for the product. 2. Support available for starting a small-scale industry. 3. To acquire the necessary managerial skills required to run a small enterprise. 4. Developing passion for integrity and honesty. 5. Identifying and training potential entrepreneur. 6. Develop and strengthen the entrepreneurial quality, i.e. motivation or need for achievement. 7. Analyse environmental set up relating to small industry and small

business. 8. Select the product.

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9. Understand the process and procedure involved in setting up a small enterprise. 10.Know the sources of help and support available for starting a small scale industry. 11.Acquire the necessary managerial skills required to run a small-scale industry. 12.Know the pros and cons in becoming an entrepreneur. 13.Appreciate the needed entrepreneurial discipline. 14.Besides, some of the other important objectives of the EDPs are to:  Let the entrepreneur himself / herself set or reset objectives for his / her enterprise and strive for their realization.  Prepare him / her to accept the uncertainty in running a business.  Enable him / her to take decisions.  Enable to communicate clearly and effectively.  Develop a broad vision about the business.  Make him subscribe to the industrial democracy.  Make him learn compliance with law.

CONTENT OF EDP 1. General introduction to entrepreneurship: First of all, the participants are exposed to a general knowledge of entrepreneurship Such as factors affection small - scale industries, the role of entrepreneurs in economic development, entrepreneurial behaviour and the facilities available of establishing SSI. 2. Motivation training: The training inputs this aim at inducing and increasing the need for a achievement among the participants. Efforts are made to inject confidence and positive attitude and behaviour among the participants towards business. 3. Management Skills: Running a business, whether Large or small, requires the management skills. Knowledge of managerial skills enables an entrepreneur to run his / her enterprise smoothly and successfully. 4. Support system and procedure: The participants also need to be exposed to the support available from different institutions and agencies for setting up and running small scale enterprise. 5. Fundamentals of projects feasibility study: Under this input, the participants are provided guidelines on the effective analysis of feasibility or viability of the of particular project in view of

marketing, organization, technical, financial and social aspects.

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6. Plant visits: In order to familiarize the participants with real life situations in small business, plant visits are also arranged. Such trips help the participants know more about an entrepreneur ’s behaviour. METHODOLOGY OF EDP/PHASES OF EDPs I.

Initial / Pre – training phase

Identification of operationally – promising area, normally a district. 1. Selection of the project leader / course coordinator to Coordinator the programme. 2. Arrangement of infrastructural facilities for the Programme. 3. Undertaking potential industrial survey / environmental 4. Scanning for identification of good business opportunities. II.

Training / development phase

Training potential entrepreneur are providing them proper guidance for setting up enterprise for setting up enterprise constitutes the cornerstone of EDP. Most of the Entrepreneurship Development institutes generally conduct training programmes of 4-6 weeks duration on full time basis. The programmes design in terms of objectives , training inputs and their focus is described. III. Post – Training / follow up phase 1. To provide a meaningful direction to the trainees in grounding their enterprise. 2. To review the progress made by the trainees in implementation of the project. 3. To review the post – training approach. 4. The following methods are generally used for follow – up:  Postal questionnaire  Telephone follow – up  Personal contact by the trainer  Group meeting ROLE/IMPORTANCE PROGRAMMES

OF

ENTREPRENEURIAL

DEVELOPMENT

1. Eliminating Poverty and Unemployment : Most of the under developed countries are confronted with the chronic problem of unemployment....