entrepreneurs are made rather than born

2. “Economy is an effect for which
entrepreneurship is a cause”

3.  Entrepreneur is a person with
 Vision
 Drive
 Ability to bear risk
…….who transforms the economic scenario

4.  Whether these characteristics are in-born or
can be induced or developed…?
Or
Whether entrepreneurs are born or made?

5.  The need for achievement (Nach Factor)
 Now the question is how does the need for
achievement arise?
 It has to be induced and developed
 Kakinada Experiment (David McClelland)

6.  Entrepreneurial Development Process (EDP)
is a planned process by the society,
government and the families to teach
qualities of entrepreneurship to the young
generation so that the society is benefited in
the long run

7.  EDP activity is mainly concerning the First
Generation entrepreneurs.
 In India, EDP and SSI development are similar
in nature.

8.  Develop and strengthen entrepreneurial
quality (need for achievement)
 Analyse environmental set up (product &
market)
 Formulate detailed project report
 Understand the process and procedure
involved in setting up a small enterprise
 Know the source of help and support
available for starting a SSI
 Acquire necessary managerial skills required
to run a business

9.  Know the possible risks and failures and learn
to overcome these
 Appreciate the needed entrepreneurial
discipline (Team-building, leadership)
 Learn to set objectives and strive for their
realisation
 Enable to take decisions
 Enable to communicate clearly and
effectively

10.  Develop a broad vision about the business
 Develop passion for integrity and honesty
 Educate on basics of industrial laws,
factories act and workers rights and
expectations.
 To get acquainted with minimum paper work,
contractual needs and correspondence

11.  To develop and improve entrepreneurial skills
and behavioural adjustment needed to go
through the stresses of initial stages
 Business specific programmes
 Increase employment opportunities by
training and developing new entrepreneurs
 Development of sick units
 Regional development
 Guidance to first generation entrepreneurs

12. The main aim of EDP is to generating,
sharpening and sharing knowledge through
research, documents and publications.
They create and develop professionals to be
entrepreneurs

13.  Selection of location
 Machinery selection
 Training of employees
 Assistance for project report
 Guidance for financial assistance
 Training in sales and service
 Changes and improvements in an enterprise

14.  SISI
 DIP
SIDCO
SIDO
DIC
 SSIB
 EDII
NIESBUD
RED
MDI
 XISS
TCO
STEP

15. The goal of ED should be for overall
development of the country. It should harness
the vast untapped human resources,
channelize them to accelerate
industrialisation in general and growth of
SSIs in particular.
Thus EDPs perform:
 Promotional functions
 Support functions
 Sustenance & growth related functions

16.  Publication relating to entrepreneurial
opportunities
 Education, training and motivation in
entrepreneurship related topics
 Identification of entrepreneurial skills and
talents
 Assistance in project report writing and
selection of suitable products

17.  Assistance regarding formalities of registration
(tax offices, SSI offices, municipal offices)
 Assistance to provide land, power, water and any
other specific facility related to the unit
 Guidance in selection of machineries and
facilities
 Help in getting raw materials, import license,
bank loans.
 Getting tax benefits and other benefits &
subsidies as per government time to time
announcements
 Assistance in marketing

18.  Guidance for expansion and modernisation
 Helping with common facilities like
transport, materials handling etc.
 Assistance in diversification and export
related activities
 Training in cost reduction, product
improvisation and change management