ENTREPRENEURSHIP DEVELOPMENT

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This document discusses entrepreneurship in knowledge-based industries. It outlines the characteristics of successful entrepreneurs, including perseverance, risk-taking ability, innovation, and salesmanship. It also examines factors that affect entrepreneurship, such as psychological, social, technical, and economic barriers. The document then provides techniques for identifying business opportunities, and discusses individual versus group entrepreneurship. It classifies different types of entrepreneurs and industries, including opportunities in knowledge-based service industries like BPO, consulting, and HR outsourcing. The document concludes by thanking the reader.

Business

ENTREPRENEURSHIP IN
KNOWLEDGE BASED
INDUSTRIES
By
Dr.J Vasanthakumari
Incad Management Services Pvt.Ltd
EMAIL : incad2000@gmail.com
Ph: 23741650

Characteristics of an Entrepreneur
• Perseverance and Hard Work
• Risk – taking ability
• High aspiration
• Willingness to learn
• Dynamic and Creative
• Adaptable
• Innovative
• Good Salesmanship
• Ability to win friends and Overcome crisis

Characteristics of an Entrepreneur
• Perception of time
• Initiative
• Self - Confidence
• Will Power
• Determination to succeed
• Pleasing Personality, composed and tactful
• High Integrity
• Responsible
• Excellence in Work

Factors Affecting Entrepreneurship
Psychological Factors
• Poor risk taking ability
• Low self - image
• Poor Salesmanship
• Lack of Empowerment

Factors Affecting Entrepreneurship
Social Factors
• Inability to make social contacts
• Restriction on mobility
• Lack of social recognition

Factors Affecting Entrepreneurship
Technical Factors
• Lack of Project Idea
• Lack of Process know - how
• Lack of Education
Economical Factors
• Inability to provide collateral security
• Negative attitude of banks and financial institutions
• Inordinate delays in the release of loans

Techniques to Identify Business Opportunity
• Using your knowledge,skills and experience
• Using available sources of information.eg.Publications,
Magazines, etc.
• Studying market trends and forecast

After Using the techniques, answer the following
• What business am I interested in ?
• What products or services will I provide ?
• Is my idea practical ?
• Who are my competitors ?
• What are my strengths ?
• Where is my customer ?

Individual and Group Entrepreneurship
• Both Individual and Group Entrepreneurship
should be promoted
• Youth entrepreneurship works at the individual
level of motivation and skills
• Success in youth entrepreneurship is always a
team effort
• Individual self interest must be blended with a
notion of community responsibility
• Group entrepreneurship is the best development
strategy to find permanent solutions for problems
of the poor in informal and rural sectors where
people are unorganized

Classification of Entrepreneurs according to
Business
• Business Entrepreneurs
• Trading Entrepreneurs
• Industrial Entrepreneurs
• Corporate Entrepreneurs
• Agricultural Entrepreneurs
• Service Entrepreneurs
• Social Entrepreneurs

Women Entrepreneurs
• Women in India constitute half of the total
population
• Owned and Controlled by a woman having 51%
minimum financial investment and providing 51% of
employment generated in the enterprise to women
• Women entrepreneurs constitute 10% of
entrepreneurs in the country

Problems faced by Women Entrepreneurs
• Problem of Finance
• Limited Mobility
• Lack of Education
• Male dominated society
• Low risk bearing activity
• Lack of social recognition
• Problem of Marketing

Business Opportunities in Service Industries
• Knowledge based industries
a) Business Process Out Sourcing (BPO)
b) Information Products
c) Accounting Outsourcing
d) HR Outsourcing
e) Insurance
f) Medical Billing / Medical Transcription
g) Tutoring (Tutors Worldwide)

Business Opportunities in Service Industries
• Consultancy Services / Management Services
a) HR Consultancy
b) Financial Consultancy
c) Technical Consultancy
d) Project Consultancy
e) Business Consultancy
f) Entrepreneurial Consultancy

HR Outsourcing Services
• Recruitment
• Staffing
• Psychological Assessments
• Training and Development
• Performance Appraisal
• Competency Mapping
• Industrial Counselling

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1) The document discusses entrepreneurship as the way forward for youth after school in Nigeria given high unemployment. 2) It outlines the benefits of entrepreneurship education, including understanding business startups, career options, and financial concepts as well as increased self-worth and problem solving skills. 3) The document recommends learning skills like social skills, self-esteem, creativity, vocational skills, and provides examples of business areas like agriculture, fashion, and computer repair for youth to consider.

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ENTREPRENEURSHIP DEVELOPMENT

1. ENTREPRENEURSHIP IN KNOWLEDGE BASED INDUSTRIES By Dr.J Vasanthakumari Incad Management Services Pvt.Ltd EMAIL : incad2000@gmail.com Ph: 23741650

2. Characteristics of an Entrepreneur • Perseverance and Hard Work • Risk – taking ability • High aspiration • Willingness to learn • Dynamic and Creative • Adaptable • Innovative • Good Salesmanship • Ability to win friends and Overcome crisis

3. Characteristics of an Entrepreneur • Perception of time • Initiative • Self - Confidence • Will Power • Determination to succeed • Pleasing Personality, composed and tactful • High Integrity • Responsible • Excellence in Work

4. Factors Affecting Entrepreneurship Psychological Factors • Poor risk taking ability • Low self - image • Poor Salesmanship • Lack of Empowerment

5. Factors Affecting Entrepreneurship Social Factors • Inability to make social contacts • Restriction on mobility • Lack of social recognition

6. Factors Affecting Entrepreneurship Technical Factors • Lack of Project Idea • Lack of Process know - how • Lack of Education Economical Factors • Inability to provide collateral security • Negative attitude of banks and financial institutions • Inordinate delays in the release of loans

7. Techniques to Identify Business Opportunity • Using your knowledge,skills and experience • Using available sources of information.eg.Publications, Magazines, etc. • Studying market trends and forecast

8. After Using the techniques, answer the following • What business am I interested in ? • What products or services will I provide ? • Is my idea practical ? • Who are my competitors ? • What are my strengths ? • Where is my customer ?

9. Individual and Group Entrepreneurship • Both Individual and Group Entrepreneurship should be promoted • Youth entrepreneurship works at the individual level of motivation and skills • Success in youth entrepreneurship is always a team effort • Individual self interest must be blended with a notion of community responsibility • Group entrepreneurship is the best development strategy to find permanent solutions for problems of the poor in informal and rural sectors where people are unorganized

10. Classification of Entrepreneurs according to Business • Business Entrepreneurs • Trading Entrepreneurs • Industrial Entrepreneurs • Corporate Entrepreneurs • Agricultural Entrepreneurs • Service Entrepreneurs • Social Entrepreneurs

11. Women Entrepreneurs • Women in India constitute half of the total population • Owned and Controlled by a woman having 51% minimum financial investment and providing 51% of employment generated in the enterprise to women • Women entrepreneurs constitute 10% of entrepreneurs in the country

12. Problems faced by Women Entrepreneurs • Problem of Finance • Limited Mobility • Lack of Education • Male dominated society • Low risk bearing activity • Lack of social recognition • Problem of Marketing

13. Business Opportunities in Service Industries • Knowledge based industries a) Business Process Out Sourcing (BPO) b) Information Products c) Accounting Outsourcing d) HR Outsourcing e) Insurance f) Medical Billing / Medical Transcription g) Tutoring (Tutors Worldwide)

14. Business Opportunities in Service Industries • Consultancy Services / Management Services a) HR Consultancy b) Financial Consultancy c) Technical Consultancy d) Project Consultancy e) Business Consultancy f) Entrepreneurial Consultancy

15. HR Outsourcing Services • Recruitment • Staffing • Psychological Assessments • Training and Development • Performance Appraisal • Competency Mapping • Industrial Counselling

16. THANK YOU

Editor's Notes

This unit is designed to highlight what customer service is all about. By the end of this unit (including one activity) we should be able to build a customer service focus among the participants
This unit is designed to highlight what customer service is all about. By the end of this unit (including one activity) we should be able to build a customer service focus among the participants
This unit is designed to highlight what customer service is all about. By the end of this unit (including one activity) we should be able to build a customer service focus among the participants
This unit is designed to highlight what customer service is all about. By the end of this unit (including one activity) we should be able to build a customer service focus among the participants
This unit is designed to highlight what customer service is all about. By the end of this unit (including one activity) we should be able to build a customer service focus among the participants
This unit is designed to highlight what customer service is all about. By the end of this unit (including one activity) we should be able to build a customer service focus among the participants
This unit is designed to highlight what customer service is all about. By the end of this unit (including one activity) we should be able to build a customer service focus among the participants
This unit is designed to highlight what customer service is all about. By the end of this unit (including one activity) we should be able to build a customer service focus among the participants
This unit is designed to highlight what customer service is all about. By the end of this unit (including one activity) we should be able to build a customer service focus among the participants
This unit is designed to highlight what customer service is all about. By the end of this unit (including one activity) we should be able to build a customer service focus among the participants
This unit is designed to highlight what customer service is all about. By the end of this unit (including one activity) we should be able to build a customer service focus among the participants
This unit is designed to highlight what customer service is all about. By the end of this unit (including one activity) we should be able to build a customer service focus among the participants
This unit is designed to highlight what customer service is all about. By the end of this unit (including one activity) we should be able to build a customer service focus among the participants
This unit is designed to highlight what customer service is all about. By the end of this unit (including one activity) we should be able to build a customer service focus among the participants
This unit is designed to highlight what customer service is all about. By the end of this unit (including one activity) we should be able to build a customer service focus among the participants

ENTREPRENEURSHIP DEVELOPMENT

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Editor's Notes