Entrepreneurship Session-5 2/03/07
Grameen Bank <ul><li>Grameen Bank sought to cultivate a culture of  mutual responsibility  and  empowerment  among borrowe...
Grameen Bank <ul><li>All banking staff visit members in their villages on a weekly basis . </li></ul><ul><li>Grameen Bank ...
Entrepreneurial performance: <ul><li>Socio cultural background of entrepreneur (SB): </li></ul><ul><li>Motivational force ...
How to judge the performance: <ul><li>Gestation period:  </li></ul><ul><li>Financial result :Total asset utilized for the ...
How to judge the performance: <ul><li>Capacity utilization: Availability of required inputs like: </li></ul><ul><li>Raw ma...
How to judge the performance: <ul><li>Expansion and diversification: </li></ul><ul><li>Value added by manufacturer: </li><...
How to judge the performance: <ul><li>Others: </li></ul><ul><li>sales turnover, </li></ul><ul><li>size of employment gener...
Entrepreneurial Network Relationships <ul><li>Business Relationships: </li></ul><ul><li>Formal and informal liaisons with ...
Business Relationships: <ul><li>Potential contacts with clients or customers through networks established in prior employm...
Professional Relationships: <ul><li>Formal or informal relationships with bankers,security analysts,savings and loan manag...
Organizational relationships: <ul><li>Relationships with previous employers and universities. </li></ul><ul><li>Formal tie...
Social Relationships: <ul><li>Membership in local,state,or national professional associations. </li></ul><ul><li>Membershi...
Other relationships: <ul><li>Family relationships and friendship networks through family ties. </li></ul><ul><li>Ethnic, c...
From Idea To Business: <ul><li>Building a business takes four things:  </li></ul><ul><li>a product or service, a business ...
A product or service <ul><li>Make sure that your idea fills a real market need.  </li></ul><ul><li>You don’t always need a...
Business Idea : <ul><li>The business idea to be selected so as to: </li></ul><ul><li>1.Enable entrepreneur to utilize the ...
Business Idea : <ul><li>4.Enable the entrepreneur to solve a current problem existing in the market. </li></ul>
There are three initial factors that entrepreneurs must consider when judging their ideas.   <ul><li>Size of opportunity: ...
There are three initial factors that entrepreneurs must consider when judging their ideas. <ul><li>2. Complexity of opport...
There are three initial factors that entrepreneurs must consider when judging their ideas. <ul><li>3. Amount of funding an...
Sources of Business Idea: <ul><li>Discussion with people. </li></ul><ul><li>Looking through books. </li></ul><ul><li>Visit...
Commitment to Excellence <ul><li>Understand the customer. </li></ul><ul><li>Provide quality products and services. </li></...
Innovation Management: <ul><li>To recognize the importance of innovation. </li></ul><ul><li>Role of key individuals. </li>...
Importance of Innovation: <ul><li>To survive innovation is must in this complex world. </li></ul><ul><li>The ability to ch...
Study of innovation: <ul><li>The engine of growth. </li></ul><ul><li>The view of Schumpeter. </li></ul><ul><li>General ove...
Interactive model of innovation:
Barriers to Entrepreneurship: <ul><li>Economic Barriers: </li></ul><ul><li>Capital </li></ul><ul><li>Labour </li></ul><ul>...
Non Economic Barriers: <ul><li>Cultural Blocks: </li></ul><ul><li>Importance of Logic: </li></ul><ul><li>Respect for Entre...
Personal Barriers to Entrepreneurship: <ul><li>Lack of sustained motivation: </li></ul><ul><li>Difficulty with ambiguity: ...
Corporate Entrepreneurship <ul><li>Concerned with innovation that leads to new corporate divisions or subsidiary ventures....
Corporate Entrepreneurship:   <ul><li>New and different forces shaping the global competitive landscape are:  </li></ul><u...
Corporate Entrepreneurship: <ul><li>Corporate entrepreneurship refers to “the process of creating new business within esta...
Extrinsic Environment:   <ul><li>The industry scenario </li></ul><ul><li>competition,  </li></ul><ul><li>technological dev...
Intrinsic Environment  : <ul><li>internal affairs; namely  </li></ul><ul><li>the management,  </li></ul><ul><li>culture,  ...
Corporate Entrepreneurship: <ul><li>The Corporate entrepreneurship venture of any corporate is dependent on active element...
National success in entrepreneurship depends on interaction of local cultures with national policies  :
Entrepreneurial Characteristics: <ul><li>Need to achieve-Desire to be a winner: </li></ul><ul><li>Competition by itself ca...
Perseverance Quality to Stick to it: <ul><li>Intense level of determination. </li></ul><ul><li>Desire to overcome hurdles....
Moderate risk takes-Prefer middle of the road: <ul><li>They are not high risk takers,not gamblers. </li></ul><ul><li>Moder...
Use of feedback-Knowing how to perform: <ul><li>Concerned about their performance-doing well? </li></ul><ul><li>How well o...
Facing uncertainty-Tolerance for ambiguity and unfamiliar situation: <ul><li>Make decisions under uncertainty. </li></ul><...
Stress takers-Possess drive and energy: <ul><li>They have tremendous amount of personal energy and drive. </li></ul><ul><l...
Self confidence-Faith in their abilities: <ul><li>High level of self confidence. </li></ul><ul><li>They strongly believe i...
Initiator :Seeking Responsibility <ul><li>Independent, </li></ul><ul><li>Highly self reliant innovator, </li></ul><ul><li>...
Positive self concept-Aware of oneself internal locus of control: <ul><li>Awareness of own strength and weakness. </li></u...
Flexibility-Flexible in Decisions: <ul><li>Weighs equally the pros and cons of a decision. </li></ul><ul><li>Tend to chang...
Analytical ability: Unaffected by personal likes and dislikes. <ul><li>They are realistic. </li></ul><ul><li>Specific appr...
Ability to find and explore: <ul><li>Quick to see opportunity. </li></ul><ul><li>They anticipate plan and fulfill their go...
Sam Walton's 10 Rules for Success    <ul><li>   Commit to your business.  </li></ul><ul><li>Believe in it more than anythi...
Sam Walton's 10 Rules for Success <ul><li>Share your profits with all your associates, and treat them as partners. In turn...
Sam Walton's 10 Rules for Success <ul><li>Motivate your partners.  </li></ul><ul><li>Money and ownership aren’t enough. </...
Sam Walton's 10 Rules for Success <ul><li>Communicate everything you possibly can to your partners.  </li></ul><ul><li>The...
Sam Walton's 10 Rules for Success <ul><li>Information is power, and the gain you get from empowering your associates more ...
Sam Walton's 10 Rules for Success <ul><li>Appreciate everything your associates do for the business. Nothing else can quit...
Sam Walton's 10 Rules for Success <ul><li>Celebrate your success and find humor in your failures.  </li></ul><ul><li>Don’t...
Sam Walton's 10 Rules for Success <ul><li>Listen to everyone in your company, and figure out ways to get them talking.  </...
Sam Walton's 10 Rules for Success <ul><li>Exceed your customer’s expectations. If you do they’ll come back over and over. ...
Sam Walton's 10 Rules for Success <ul><li>Stand behind everything you do. ‘Satisfaction guaranteed’ will make all the diff...
Sam Walton's 10 Rules for Success <ul><li>Control your expenses better than your competition. This is where you can always...
Sam Walton's 10 Rules for Success <ul><li>Swim upstream.  </li></ul><ul><li>Go the other way.  </li></ul><ul><li>Ignore th...
Small Scale Business: <ul><li>The Small Scale Sector is the natural habitat of  entrepreneurs. </li></ul><ul><li>Most entr...
Small Scale Business: <ul><li>The SSI Sector provides an opportunity for them to hone their skills and talents, to experim...
Small Scale Business: <ul><li>Initially the capital investment in small ventures is nominal  </li></ul><ul><li>the technol...
Profile of SSI Sector in India <ul><li>95% of Industrial Units in the Country </li></ul><ul><li>39.92% of Value Added in t...
Profile of SSI Sector in India <ul><li>Employment To 193 Lakh Persons </li></ul><ul><li>Production of Over 7500 Items in t...
SMALL SCALE SERVICE AND BUSINESS ENTERPRISE [SSSBES] <ul><li>An industry related service/business enterprise with: </li></...
Small Scale Business: <ul><li>70 percent of the total innovations in the world have come from the Small Scale Sector: </li...
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Entp 05ppt

  1. 1. Entrepreneurship Session-5 2/03/07
  2. 2. Grameen Bank <ul><li>Grameen Bank sought to cultivate a culture of mutual responsibility and empowerment among borrowers and staff alike. </li></ul><ul><li>Grameen credo—“Discipline, unity, courage, and hard work in all walks of our lives” </li></ul>
  3. 3. Grameen Bank <ul><li>All banking staff visit members in their villages on a weekly basis . </li></ul><ul><li>Grameen Bank has given out loans to more than 4.48 million people in Bangladesh and has maintained a remarkable 98.9% repayment rate. </li></ul>
  4. 4. Entrepreneurial performance: <ul><li>Socio cultural background of entrepreneur (SB): </li></ul><ul><li>Motivational force (MF): </li></ul><ul><li>Knowledge and ability (KA): </li></ul><ul><li>Financial strength FS): </li></ul><ul><li>Environmental variables (EV): </li></ul><ul><li>EP=f (SB,MF,KA,FS and EV) </li></ul>
  5. 5. How to judge the performance: <ul><li>Gestation period: </li></ul><ul><li>Financial result :Total asset utilized for the physical expansion of an enterprise. </li></ul><ul><li>To analyze the financial result: </li></ul><ul><li>Return on capital employed. </li></ul><ul><li>Net profit over sales. </li></ul><ul><li>and other ratios. </li></ul>
  6. 6. How to judge the performance: <ul><li>Capacity utilization: Availability of required inputs like: </li></ul><ul><li>Raw materials. </li></ul><ul><li>Power </li></ul><ul><li>Labour </li></ul><ul><li>for the finished product. </li></ul>
  7. 7. How to judge the performance: <ul><li>Expansion and diversification: </li></ul><ul><li>Value added by manufacturer: </li></ul><ul><li>Firms contribution to national economy. </li></ul><ul><li>Ability to take higher degree of risk </li></ul><ul><li>Growth of offspring business: </li></ul>
  8. 8. How to judge the performance: <ul><li>Others: </li></ul><ul><li>sales turnover, </li></ul><ul><li>size of employment generated, </li></ul><ul><li>volume of exports, </li></ul><ul><li>r&d activities, </li></ul><ul><li>rural development. </li></ul>
  9. 9. Entrepreneurial Network Relationships <ul><li>Business Relationships: </li></ul><ul><li>Formal and informal liaisons with suppliers and wholesalers. </li></ul><ul><li>Contracts or informal relationships with subcontractors. </li></ul><ul><li>Existing contacts with potential customers or clients. </li></ul>
  10. 10. Business Relationships: <ul><li>Potential contacts with clients or customers through networks established in prior employment. </li></ul>
  11. 11. Professional Relationships: <ul><li>Formal or informal relationships with bankers,security analysts,savings and loan managers,investment managers. </li></ul><ul><li>Formal and informal laisons with insurance companies,venture capitalists,or private investors. </li></ul><ul><li>Contacts with attorneys,consulting organizations,import/export bankers. </li></ul>
  12. 12. Organizational relationships: <ul><li>Relationships with previous employers and universities. </li></ul><ul><li>Formal ties with corporations through new venture units. </li></ul><ul><li>Formal or informal ties with government agencies,state agencies,local political organizations. </li></ul>
  13. 13. Social Relationships: <ul><li>Membership in local,state,or national professional associations. </li></ul><ul><li>Membership in or attendance at trade and professional conferences. </li></ul><ul><li>Relationship established through local or regional social clubs,athletic clubs and social events. </li></ul>
  14. 14. Other relationships: <ul><li>Family relationships and friendship networks through family ties. </li></ul><ul><li>Ethnic, cultural and religious affiliations. </li></ul><ul><li>Trade groups and union membership. </li></ul>
  15. 15. From Idea To Business: <ul><li>Building a business takes four things: </li></ul><ul><li>a product or service, a business model, a team, and money. </li></ul>
  16. 16. A product or service <ul><li>Make sure that your idea fills a real market need. </li></ul><ul><li>You don’t always need a new product category. Microsoft was a late entrant in window systems, spreadsheets, word processors, and presentation software. Yet they virtually own those product categories. </li></ul>
  17. 17. Business Idea : <ul><li>The business idea to be selected so as to: </li></ul><ul><li>1.Enable entrepreneur to utilize the skills+tech+market knowledge. </li></ul><ul><li>2.Enable to use of locally available raw materials for product or services. </li></ul><ul><li>3.They make products that have demand in market. </li></ul>
  18. 18. Business Idea : <ul><li>4.Enable the entrepreneur to solve a current problem existing in the market. </li></ul>
  19. 19. There are three initial factors that entrepreneurs must consider when judging their ideas. <ul><li>Size of opportunity: </li></ul><ul><li>whether the opportunity is big enough for them to get an appropriate return on their investment of time, energy, money, etc. </li></ul><ul><li>If the opportunity is too small, it’s probably not worth pursuing. </li></ul>
  20. 20. There are three initial factors that entrepreneurs must consider when judging their ideas. <ul><li>2. Complexity of opportunity: </li></ul><ul><li>A second question to ask is how complex the opportunity is. </li></ul><ul><li>How difficult will it to be to execute on the opportunity? </li></ul>
  21. 21. There are three initial factors that entrepreneurs must consider when judging their ideas. <ul><li>3. Amount of funding and resources required: </li></ul><ul><li>An opportunity must be judged with regards to how many resources are required to execute it. </li></ul><ul><li>If the amount of resources is too much, the entrepreneur may not be able to accumulate the resources and/or the return on investment will be reduced. </li></ul>
  22. 22. Sources of Business Idea: <ul><li>Discussion with people. </li></ul><ul><li>Looking through books. </li></ul><ul><li>Visiting shops and attending trade shows. </li></ul><ul><li>Information from research institutes. </li></ul><ul><li>Brainstorming </li></ul>
  23. 23. Commitment to Excellence <ul><li>Understand the customer. </li></ul><ul><li>Provide quality products and services. </li></ul><ul><li>Knowledge and expertise, esp. business. </li></ul><ul><li>Details. </li></ul><ul><li>Continuous learning. </li></ul><ul><li>Commit time and effort. </li></ul>
  24. 24. Innovation Management: <ul><li>To recognize the importance of innovation. </li></ul><ul><li>Role of key individuals. </li></ul><ul><li>Need to view innovation as a management process. </li></ul>
  25. 25. Importance of Innovation: <ul><li>To survive innovation is must in this complex world. </li></ul><ul><li>The ability to change and adapt is essential to survive. </li></ul><ul><li>Its applicable in virtually all the industries. </li></ul>
  26. 26. Study of innovation: <ul><li>The engine of growth. </li></ul><ul><li>The view of Schumpeter. </li></ul><ul><li>General overview of innovation process. </li></ul>
  27. 27. Interactive model of innovation:
  28. 28. Barriers to Entrepreneurship: <ul><li>Economic Barriers: </li></ul><ul><li>Capital </li></ul><ul><li>Labour </li></ul><ul><li>Raw Materials </li></ul>
  29. 29. Non Economic Barriers: <ul><li>Cultural Blocks: </li></ul><ul><li>Importance of Logic: </li></ul><ul><li>Respect for Entrepreneurship: </li></ul><ul><li>Tradition Binding: </li></ul><ul><li>Emotional Block: </li></ul>
  30. 30. Personal Barriers to Entrepreneurship: <ul><li>Lack of sustained motivation: </li></ul><ul><li>Difficulty with ambiguity: </li></ul><ul><li>Inability to dream and use subconscious: </li></ul><ul><li>Impatience in society problem: </li></ul><ul><li>Impatience in solving problem: </li></ul><ul><li>Lack of clear perception: </li></ul>
  31. 31. Corporate Entrepreneurship <ul><li>Concerned with innovation that leads to new corporate divisions or subsidiary ventures. </li></ul>
  32. 32. Corporate Entrepreneurship: <ul><li>New and different forces shaping the global competitive landscape are: </li></ul><ul><li>Rapid advancements and changes in technology </li></ul><ul><li>The changed business paradigm bought by World Wide Web </li></ul><ul><li>Opening of global markets </li></ul><ul><li>And importantly, increased success of entrepreneur ventures through out the world </li></ul>
  33. 33. Corporate Entrepreneurship: <ul><li>Corporate entrepreneurship refers to “the process of creating new business within established firms to improve organizational profitability and enhance a firm's competitive position or the strategic renewal of existing business”, </li></ul>
  34. 34. Extrinsic Environment: <ul><li>The industry scenario </li></ul><ul><li>competition, </li></ul><ul><li>technological development, customers and legal/regulatory framework </li></ul>
  35. 35. Intrinsic Environment : <ul><li>internal affairs; namely </li></ul><ul><li>the management, </li></ul><ul><li>culture, </li></ul><ul><li>encouragement to creativity and </li></ul><ul><li>co-sharing of profits </li></ul>
  36. 36. Corporate Entrepreneurship: <ul><li>The Corporate entrepreneurship venture of any corporate is dependent on active elements of it extrinsic/intrinsic environment. </li></ul>
  37. 37. National success in entrepreneurship depends on interaction of local cultures with national policies :
  38. 38. Entrepreneurial Characteristics: <ul><li>Need to achieve-Desire to be a winner: </li></ul><ul><li>Competition by itself can be misleading. </li></ul><ul><li>Competition directed to beat others-seed for destruction. </li></ul><ul><li>Competition with self-imposed standards-Internalized kind of competition. </li></ul>
  39. 39. Perseverance Quality to Stick to it: <ul><li>Intense level of determination. </li></ul><ul><li>Desire to overcome hurdles. </li></ul><ul><li>Solve problem and complete a job. </li></ul><ul><li>Not obstructed by difficult situations. </li></ul>
  40. 40. Moderate risk takes-Prefer middle of the road: <ul><li>They are not high risk takers,not gamblers. </li></ul><ul><li>Moderate and calculated risk. </li></ul>
  41. 41. Use of feedback-Knowing how to perform: <ul><li>Concerned about their performance-doing well? </li></ul><ul><li>How well or poor working? </li></ul><ul><li>Feedback helps for the corrective action to improve. </li></ul>
  42. 42. Facing uncertainty-Tolerance for ambiguity and unfamiliar situation: <ul><li>Make decisions under uncertainty. </li></ul><ul><li>Achievement oriented people tend to optimize even under unfamiliar situation. </li></ul><ul><li>They see no reason why they cannot win through their abilities. </li></ul><ul><li>They present a picture of boldness. </li></ul>
  43. 43. Stress takers-Possess drive and energy: <ul><li>They have tremendous amount of personal energy and drive. </li></ul><ul><li>To cope up with situations and make right decisions. </li></ul>
  44. 44. Self confidence-Faith in their abilities: <ul><li>High level of self confidence. </li></ul><ul><li>They strongly believe in their capabilities. </li></ul><ul><li>They are against people who are overconfident and arrogant. </li></ul>
  45. 45. Initiator :Seeking Responsibility <ul><li>Independent, </li></ul><ul><li>Highly self reliant innovator, </li></ul><ul><li>The champion of free enterprise economy. </li></ul><ul><li>They believe in their personal effort. </li></ul><ul><li>Takes initiative to solve problem and fill vacuum. </li></ul>
  46. 46. Positive self concept-Aware of oneself internal locus of control: <ul><li>Awareness of own strength and weakness. </li></ul><ul><li>Uses positive knowledge to support his thinking. </li></ul><ul><li>He is rarely negative. </li></ul><ul><li>Maintains a positive correlation between belief and hardwork. </li></ul>
  47. 47. Flexibility-Flexible in Decisions: <ul><li>Weighs equally the pros and cons of a decision. </li></ul><ul><li>Tend to change if situation demands. </li></ul><ul><li>People with open mind and not rigid. </li></ul>
  48. 48. Analytical ability: Unaffected by personal likes and dislikes. <ul><li>They are realistic. </li></ul><ul><li>Specific approach for business undertakings. </li></ul>
  49. 49. Ability to find and explore: <ul><li>Quick to see opportunity. </li></ul><ul><li>They anticipate plan and fulfill their goals. </li></ul>
  50. 50. Sam Walton's 10 Rules for Success  <ul><li>  Commit to your business. </li></ul><ul><li>Believe in it more than anything else. </li></ul><ul><li>If you love your work, you’ll be out there every day trying to do the best you can, and pretty soon everybody around will catch the passion from you - like a fever. </li></ul>
  51. 51. Sam Walton's 10 Rules for Success <ul><li>Share your profits with all your associates, and treat them as partners. In turn, they will treat you as a partner, and together you will all perform beyond your wildest expectations </li></ul>
  52. 52. Sam Walton's 10 Rules for Success <ul><li>Motivate your partners. </li></ul><ul><li>Money and ownership aren’t enough. </li></ul><ul><li>Set high goals, encourage competition and then keep score. Make bets with outrageous payoffs. </li></ul>
  53. 53. Sam Walton's 10 Rules for Success <ul><li>Communicate everything you possibly can to your partners. </li></ul><ul><li>The more they know, the more they’ll understand. The more they understand, the more they’ll care. Once they care, there’s no stopping them. </li></ul>
  54. 54. Sam Walton's 10 Rules for Success <ul><li>Information is power, and the gain you get from empowering your associates more than offsets the risk of informing your competitors. </li></ul>
  55. 55. Sam Walton's 10 Rules for Success <ul><li>Appreciate everything your associates do for the business. Nothing else can quite substitute for a few well-chosen, well-timed, sincere words of praise. </li></ul><ul><li>They’re absolutely free and worth a fortune. </li></ul>
  56. 56. Sam Walton's 10 Rules for Success <ul><li>Celebrate your success and find humor in your failures. </li></ul><ul><li>Don’t take yourself so seriously. Loosen up and everyone around you will loosen up. Have fun and always show enthusiasm. When all else fails put on a costume and sing a silly song. </li></ul>
  57. 57. Sam Walton's 10 Rules for Success <ul><li>Listen to everyone in your company, and figure out ways to get them talking. </li></ul><ul><li>The folks on the front line - the ones who actually talk to customers - are the only ones who really know what’s going on out there. </li></ul><ul><li>You’d better find out what they know. </li></ul>
  58. 58. Sam Walton's 10 Rules for Success <ul><li>Exceed your customer’s expectations. If you do they’ll come back over and over. </li></ul><ul><li>Give them what they want - and a little more. Let them know you appreciate them. Make good on all your mistakes, and don't make excuses - apologize. </li></ul>
  59. 59. Sam Walton's 10 Rules for Success <ul><li>Stand behind everything you do. ‘Satisfaction guaranteed’ will make all the difference. </li></ul>
  60. 60. Sam Walton's 10 Rules for Success <ul><li>Control your expenses better than your competition. This is where you can always find the competitive advantage. </li></ul><ul><li>You can make a lot of mistakes and still recover if you run an efficient operation. Or you can be brilliant and still go out of business if you’re too inefficient. </li></ul>
  61. 61. Sam Walton's 10 Rules for Success <ul><li>Swim upstream. </li></ul><ul><li>Go the other way. </li></ul><ul><li>Ignore the conventional wisdom. </li></ul><ul><li>If everybody is doing it one way, there’s a good chance you can find your niche by going exactly in the opposite direction. </li></ul>
  62. 62. Small Scale Business: <ul><li>The Small Scale Sector is the natural habitat of entrepreneurs. </li></ul><ul><li>Most entrepreneurs start small and then nurture their units into large industries. </li></ul>
  63. 63. Small Scale Business: <ul><li>The SSI Sector provides an opportunity for them to hone their skills and talents, to experiment, to innovate and transform their ideas into goods and services needed by the society. </li></ul>
  64. 64. Small Scale Business: <ul><li>Initially the capital investment in small ventures is nominal </li></ul><ul><li>the technology used is low, so it becomes easy for first time entrepreneurs to set up a venture. </li></ul>
  65. 65. Profile of SSI Sector in India <ul><li>95% of Industrial Units in the Country </li></ul><ul><li>39.92% of Value Added in the Manufacturing Sector </li></ul><ul><li>34.29% of National Exports </li></ul><ul><li>6.86% of Gross Domestic Product </li></ul>
  66. 66. Profile of SSI Sector in India <ul><li>Employment To 193 Lakh Persons </li></ul><ul><li>Production of Over 7500 Items in the Industrial Sector </li></ul><ul><li>298 Items Reserved for Exclusive Manufacture </li></ul><ul><li>358 Items for Exclusive Purchase from This Sector </li></ul>
  67. 67. SMALL SCALE SERVICE AND BUSINESS ENTERPRISE [SSSBES] <ul><li>An industry related service/business enterprise with: </li></ul><ul><li>investment up to Re.0.5 million (5 Lakhs) in fixed assets, </li></ul><ul><li>excluding land and building, is treated as an SSSBE. </li></ul><ul><li>E.g. advertising agencies, Marketing consultancy, Auto repair, services and garages, Tailoring, Desktop printing etc. </li></ul>
  68. 68. Small Scale Business: <ul><li>70 percent of the total innovations in the world have come from the Small Scale Sector: </li></ul><ul><li>Siemens, Ford, Eastman Kodak, Lever </li></ul><ul><li>Brothers, Reliance, Nirma, Rasna were all started small and then nurtured into </li></ul><ul><li>big businesses. </li></ul>

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