The document discusses entrepreneurship development and entrepreneurial development programs (EDPs). It defines entrepreneurship development as enhancing entrepreneurs' skills, knowledge, and abilities through training programs and education. EDPs aim to motivate individuals to pursue entrepreneurship and prepare them for business ownership. The key phases of an EDP are pre-training, training, and post-training follow-up. EDPs play important roles in stimulating entrepreneurship, supporting new businesses, sustaining existing businesses, and contributing to socioeconomic development. Government and private institutions provide various resources and assistance to entrepreneurs in India.
A joint venture is when two or more companies collaborate on a business project together for a set period of time. There are two main types of joint ventures: domestic, involving partners from the same country, and international, involving partners from different countries. Joint ventures provide benefits like accessing new markets, resources, expertise, and risk sharing. However, they also pose disadvantages such as being time-consuming to set up and potential cultural/management clashes between partners. Key aspects of a joint venture agreement include ownership structure, management roles, decision making processes, funding, intellectual property sharing, and termination conditions.
The document discusses the business environment and its various components. It defines the business environment as comprising internal and external factors that influence a company's operations. It classifies the external environment into political, legal, economic, sociocultural, demographic, technological, and natural factors. The internal environment includes elements like organizational culture, management practices, and employee relations. Regular scanning and monitoring of the business environment is important for companies to identify opportunities and threats and respond with appropriate strategies.
The environment plays a key role in shaping entrepreneurship. Factors like parents, friends, teachers, society, and the local community influence whether someone becomes an entrepreneur. Successful entrepreneurship depends on general conditions like legal and institutional frameworks, skilled labor, suppliers and customers, competition, and supportive government policies. Country-specific conditions also matter, like access to financial resources, large urban areas, and universities. Public policy can further support entrepreneurship through funding, incentives, intellectual property protection, education, and reducing barriers to entry. Developing strong infrastructure is important to the entrepreneurial environment, including transportation, communications, utilities, and access to skilled workers and research institutions.
This document outlines the course syllabus for BA932 Strategic Management. It covers 5 units: 1) Strategy and Process, 2) Competitive Advantage, 3) Strategies, 4) Strategy Implementation & Evaluation, and 5) Other Strategic Issues. Unit 1 discusses strategic concepts like vision, mission, objectives, and the strategy formation process. Unit 2 covers external environment analysis using Porter's five forces model and competitive changes. It also discusses internal analysis of resources, capabilities, and competitive advantage. Unit 3 looks at generic strategies and various levels of strategy. Unit 4 examines strategy implementation and evaluation. Unit 5 covers topics like technology, innovation, and internet strategies.
This document provides an overview of a presentation on venture capital. It includes definitions of venture capital, the nature and scope of venture capital, regulatory framework, problems with venture capital, the venture capital investment process, the current scenario in India, global experience, and conclusions. The document outlines topics that will be covered in the presentation and provides background information on venture capital concepts.
The document provides an overview of the strategic management process, which includes 4 main steps: 1) Environmental scanning of internal and external factors, 2) Strategy formulation by designing plans to acquire resources and formulating strategies, 3) Strategy implementation by translating strategies into organizational actions, and 4) Strategy evaluation by regularly assessing strategies and their results and taking corrective actions if needed. The environmental scanning involves analyzing internal elements like employees and resources as well as external factors like the industry, national environment, and macroeconomic/social influences to identify opportunities and threats.
The document discusses entrepreneurial strategy for new market entry. It defines new entry as offering a new product, offering an existing product in a new market, or creating a new organization. Entrepreneurial strategy involves both generating and exploiting new entry opportunities in a way that maximizes the benefits of newness while minimizing costs. The key aspects of entrepreneurial strategy discussed are assessing new entry opportunities, developing an entry strategy, and managing newness through the creation of a new organization.
A joint venture is when two or more companies collaborate on a business project together for a set period of time. There are two main types of joint ventures: domestic, involving partners from the same country, and international, involving partners from different countries. Joint ventures provide benefits like accessing new markets, resources, expertise, and risk sharing. However, they also pose disadvantages such as being time-consuming to set up and potential cultural/management clashes between partners. Key aspects of a joint venture agreement include ownership structure, management roles, decision making processes, funding, intellectual property sharing, and termination conditions.
The document discusses the business environment and its various components. It defines the business environment as comprising internal and external factors that influence a company's operations. It classifies the external environment into political, legal, economic, sociocultural, demographic, technological, and natural factors. The internal environment includes elements like organizational culture, management practices, and employee relations. Regular scanning and monitoring of the business environment is important for companies to identify opportunities and threats and respond with appropriate strategies.
The environment plays a key role in shaping entrepreneurship. Factors like parents, friends, teachers, society, and the local community influence whether someone becomes an entrepreneur. Successful entrepreneurship depends on general conditions like legal and institutional frameworks, skilled labor, suppliers and customers, competition, and supportive government policies. Country-specific conditions also matter, like access to financial resources, large urban areas, and universities. Public policy can further support entrepreneurship through funding, incentives, intellectual property protection, education, and reducing barriers to entry. Developing strong infrastructure is important to the entrepreneurial environment, including transportation, communications, utilities, and access to skilled workers and research institutions.
This document outlines the course syllabus for BA932 Strategic Management. It covers 5 units: 1) Strategy and Process, 2) Competitive Advantage, 3) Strategies, 4) Strategy Implementation & Evaluation, and 5) Other Strategic Issues. Unit 1 discusses strategic concepts like vision, mission, objectives, and the strategy formation process. Unit 2 covers external environment analysis using Porter's five forces model and competitive changes. It also discusses internal analysis of resources, capabilities, and competitive advantage. Unit 3 looks at generic strategies and various levels of strategy. Unit 4 examines strategy implementation and evaluation. Unit 5 covers topics like technology, innovation, and internet strategies.
This document provides an overview of a presentation on venture capital. It includes definitions of venture capital, the nature and scope of venture capital, regulatory framework, problems with venture capital, the venture capital investment process, the current scenario in India, global experience, and conclusions. The document outlines topics that will be covered in the presentation and provides background information on venture capital concepts.
The document provides an overview of the strategic management process, which includes 4 main steps: 1) Environmental scanning of internal and external factors, 2) Strategy formulation by designing plans to acquire resources and formulating strategies, 3) Strategy implementation by translating strategies into organizational actions, and 4) Strategy evaluation by regularly assessing strategies and their results and taking corrective actions if needed. The environmental scanning involves analyzing internal elements like employees and resources as well as external factors like the industry, national environment, and macroeconomic/social influences to identify opportunities and threats.
The document discusses entrepreneurial strategy for new market entry. It defines new entry as offering a new product, offering an existing product in a new market, or creating a new organization. Entrepreneurial strategy involves both generating and exploiting new entry opportunities in a way that maximizes the benefits of newness while minimizing costs. The key aspects of entrepreneurial strategy discussed are assessing new entry opportunities, developing an entry strategy, and managing newness through the creation of a new organization.
ROLES RESPONSIBILITY AND CHALLENGES OF TRAINNIG MANAGERMOHIT SHARMA
A training manager organizes and manages training programs within an organization to ensure employees gain skills to perform their jobs effectively. They identify training needs by relating to all levels of staff. Key responsibilities include conducting new hire orientation, evaluating training programs, developing testing and training materials, and analyzing training needs to develop new programs. Training managers face challenges of keeping training budgets and programs up-to-date amid changing legislation, technology, and skill requirements.
The document discusses the importance of conducting regular HR audits through the case study of Texaco. Texaco did not properly audit its divisions for compliance with equal employment laws and faced a racial discrimination lawsuit. The $176 million settlement was an expensive lesson for Texaco on the importance of auditing HR practices. Regular audits allow employers to proactively identify and address issues before they escalate into legal claims.
Entrepreneurial Strategy Generating and Exploiting new entriesSulman Ahmed
This document summarizes key concepts from Chapter 3 of the textbook about entrepreneurial strategy for new entries. It discusses generating new entry opportunities by creating valuable, rare, and inimitable resource bundles. It also covers assessing new opportunities and deciding whether to exploit them. Additionally, it outlines strategies for exploiting new entries such as being a first mover, reducing environmental uncertainty, and reducing customer uncertainty. Risk reduction strategies like market scope strategies and imitation strategies are also summarized.
The document discusses the role of human resources in strategic formulation. It defines strategic human resource management as effectively applying an organization's human resources to accomplish its overall strategy. Strategic HR provides a framework for achieving long-term goals by enhancing economic performance, adapting to changes, and ensuring stability with a content workforce. The importance of HR to strategic formulation includes providing competitive advantage, controlling labor costs, and effectively utilizing resources. HR contributes to strategy through performance appraisal, staffing, training, environmental scanning, and implementing resource allocation.
The Concept of Corporate Entrepreneurship - IntrapreneurshipGaurav Singh Bisen
Presentation on Corporate Entrepreneurship, its strategies. Intrapreneurship & Leaders of such culture in market. Case Study of Google and its successful products and innovations.
This document discusses strategic management and the strategic planning process. It defines strategy and outlines three levels of strategy: corporate, business unit, and functional. It then describes the strategic planning process, which includes establishing strategic intent, conducting an environmental scan involving internal and external analysis, and formulating strategy by defining the mission and objectives. The process aims to help organizations effectively manage opportunities and threats to achieve long-term goals.
This document lists various entrepreneurship support programs offered by major commercial banks in India, including the Small Industries Development Bank of India (SIDBI), Housing Development Finance Corporation (HDFC), Industrial Credit and Investment Corporation of India (ICICI), Industrial Development Bank of India (IDBI), Allahabad Bank, and State Bank of India. It provides brief descriptions of financing schemes, loans, and other initiatives supported by each bank to promote small and medium enterprises.
This document discusses entrepreneurship development programmes (EDPs) in India. It outlines the importance of training for entrepreneurs and various training methods used in EDPs. EDPs are designed to encourage self-employment by providing training and motivation to potential and existing entrepreneurs. The phases of a typical EDP include selecting areas for focus, conducting feasibility studies, identifying and training entrepreneurs, and providing follow-up support. Several government organizations provide EDPs in India, including the Entrepreneurship Development Institute of India, National Institute for Entrepreneurship and Small Business Development, Small Industries Service Institutes, and the National Small Industries Corporation.
HRD-Concept & Goals, Challenges, Climate, Practices in India, Learning and HRDAshish Hande
The document discusses key concepts in human resource development including definitions of HRD, the need for HRD in organizations, functions and goals of HRD, challenges in HRD, and learning principles and strategies that can maximize training outcomes. It provides an overview of concepts such as the difference between HRD and HRM, objectives and practices of HRD in Indian industries, and theories related to learning styles, transfer of training, and Gagné's domains of learning.
This document discusses behavioural implementation and the roles and skills of strategic leaders. It describes how strategic leaders guide organizations towards success through their individual behaviors and as part of groups. The document outlines the structure of strategic leaders at the corporate, business, functional, and operational levels. It also identifies key skills of strategic leaders like anticipating, challenging assumptions, interpreting information, deciding, learning, and aligning stakeholders. The roles of the CEO and board of directors in determining strategy and monitoring performance are discussed. Finally, the document covers types of power and how leadership styles impact strategic implementation.
Strategic evaluation and control is the final phase of strategic management. It operates at two strategic and operational levels to assess consistency with the environment and pursuit of strategy. The purpose is to evaluate strategy effectiveness in achieving objectives. It tests strategy effectiveness and keeps the organization on track to objectives through feedback and corrective actions. Strategic evaluation involves participants across the organization and provides lessons for new planning, though barriers like measurement difficulties must be addressed.
This document discusses entrepreneurship and small business. It defines entrepreneurship as planning, organizing, operating, and assuming risk of a business. Small businesses are privately owned by individuals and have sales and assets that are not large enough to influence their environment. Small businesses play an important role by creating the majority of new jobs and being responsible for innovations. The document outlines strategies for entrepreneurial organizations such as choosing an industry and developing competitive advantages. It also discusses financing options, franchising, reasons for startup successes and failures, and performance factors.
The document discusses strategic choice in building a multicultural organization. It defines strategic choice as the decision that determines a firm's future strategy and addresses which path it will take. A SWOT analysis is conducted to examine strengths, weaknesses, opportunities, and threats, and the best applicable strategy is selected to achieve organizational objectives. The process of strategic choice involves focusing on alternatives, analyzing them, evaluating strategies, and making a strategic choice. Gap analysis is used to narrow alternatives and selection factors like objective and subjective criteria are used to evaluate strategies.
8 ethical and social considerations in strategy developmentTaranpreet Kaur
This document discusses key ethical and social considerations in strategic planning. It identifies stakeholder participation, organizational values, individual values, and managing change as the main ethical considerations. Stakeholder participation, organizational values, and individual values are described as "acid tests" to ensure a strategy is developed with appropriate information and aligned with ethical standards. Change management is also highlighted as important to strategic planning to engage people and minimize risks from resistance to changes.
Human resource development (HRD) involves providing organized learning experiences to improve employee job performance and growth over time. It includes training programs that provide employees with skills and knowledge needed to perform job functions. HRD plays an important role in dynamic market economies by developing employee knowledge, skills, abilities, and values. Key techniques of HRD include performance appraisals, potential appraisals, career planning, employee training programs, social and cultural programs, teamwork, worker participation, monetary and non-monetary rewards, and grievance mechanisms. These techniques are used to assess needs, develop careers, provide training, motivate employees, and resolve issues.
This document provides a syllabus for an Entrepreneurial Development course. It outlines 4 units that will be covered: (1) entrepreneur traits and types, (2) competing theories of entrepreneurship and entrepreneur development programs, (3) entrepreneur motivation and behavior, and (4) searching for business ideas and preparing feasibility reports. The syllabus also includes sample questions that will be asked to assess students, focusing on defining key terms and explaining concepts covered in the various units.
This document provides an overview of strategic management concepts including definitions of strategy, the strategic management process, and frameworks for strategic analysis. It defines strategy as a plan to achieve organizational goals. The strategic management process involves setting strategic intent through vision and mission, formulating strategy by analyzing the external and internal environment, implementing strategy, and evaluating performance. Frameworks explained include the levels of strategy (corporate, business, functional), McKinsey's 7S model analyzing seven internal elements, and forms of corporate strategies like growth, stability, and retrenchment.
Purpose of promotion, basis of promotion, Meaning of transfer, reasons for transfer, types of transfer, right sizing of work force. Need for right sizing.
This document provides an overview of business environment analysis and entrepreneurship. It defines business environment and discusses factors like internal environment, market environment, and macro environment. It also explains tools for analyzing business environment like PESTEL analysis and SWOT analysis. The document outlines key elements of developing an effective business plan including executive summary, company description, products/services, marketing plan, financial projections, and more. Overall, the document presents concepts and frameworks for understanding a business's external environment and internal strengths/weaknesses as tools for entrepreneurial planning.
small business & epreneurship development U2.pdfkittustudy7
The document discusses entrepreneurial environment and the entrepreneurial development process. It defines entrepreneurial environment as a place that emphasizes identifying and pursuing opportunities while accepting calculated risks. It notes that entrepreneurial environment includes factors like government policies, access to financing, and the legal system.
The entrepreneurial development process is summarized as having five phases: idea generation, opportunity evaluation, planning, company formation/launch, and growth. Opportunity evaluation involves determining if an opportunity is worth investing in. Planning creates a business strategy and operating plan. Company formation makes the venture a legal entity.
ROLES RESPONSIBILITY AND CHALLENGES OF TRAINNIG MANAGERMOHIT SHARMA
A training manager organizes and manages training programs within an organization to ensure employees gain skills to perform their jobs effectively. They identify training needs by relating to all levels of staff. Key responsibilities include conducting new hire orientation, evaluating training programs, developing testing and training materials, and analyzing training needs to develop new programs. Training managers face challenges of keeping training budgets and programs up-to-date amid changing legislation, technology, and skill requirements.
The document discusses the importance of conducting regular HR audits through the case study of Texaco. Texaco did not properly audit its divisions for compliance with equal employment laws and faced a racial discrimination lawsuit. The $176 million settlement was an expensive lesson for Texaco on the importance of auditing HR practices. Regular audits allow employers to proactively identify and address issues before they escalate into legal claims.
Entrepreneurial Strategy Generating and Exploiting new entriesSulman Ahmed
This document summarizes key concepts from Chapter 3 of the textbook about entrepreneurial strategy for new entries. It discusses generating new entry opportunities by creating valuable, rare, and inimitable resource bundles. It also covers assessing new opportunities and deciding whether to exploit them. Additionally, it outlines strategies for exploiting new entries such as being a first mover, reducing environmental uncertainty, and reducing customer uncertainty. Risk reduction strategies like market scope strategies and imitation strategies are also summarized.
The document discusses the role of human resources in strategic formulation. It defines strategic human resource management as effectively applying an organization's human resources to accomplish its overall strategy. Strategic HR provides a framework for achieving long-term goals by enhancing economic performance, adapting to changes, and ensuring stability with a content workforce. The importance of HR to strategic formulation includes providing competitive advantage, controlling labor costs, and effectively utilizing resources. HR contributes to strategy through performance appraisal, staffing, training, environmental scanning, and implementing resource allocation.
The Concept of Corporate Entrepreneurship - IntrapreneurshipGaurav Singh Bisen
Presentation on Corporate Entrepreneurship, its strategies. Intrapreneurship & Leaders of such culture in market. Case Study of Google and its successful products and innovations.
This document discusses strategic management and the strategic planning process. It defines strategy and outlines three levels of strategy: corporate, business unit, and functional. It then describes the strategic planning process, which includes establishing strategic intent, conducting an environmental scan involving internal and external analysis, and formulating strategy by defining the mission and objectives. The process aims to help organizations effectively manage opportunities and threats to achieve long-term goals.
This document lists various entrepreneurship support programs offered by major commercial banks in India, including the Small Industries Development Bank of India (SIDBI), Housing Development Finance Corporation (HDFC), Industrial Credit and Investment Corporation of India (ICICI), Industrial Development Bank of India (IDBI), Allahabad Bank, and State Bank of India. It provides brief descriptions of financing schemes, loans, and other initiatives supported by each bank to promote small and medium enterprises.
This document discusses entrepreneurship development programmes (EDPs) in India. It outlines the importance of training for entrepreneurs and various training methods used in EDPs. EDPs are designed to encourage self-employment by providing training and motivation to potential and existing entrepreneurs. The phases of a typical EDP include selecting areas for focus, conducting feasibility studies, identifying and training entrepreneurs, and providing follow-up support. Several government organizations provide EDPs in India, including the Entrepreneurship Development Institute of India, National Institute for Entrepreneurship and Small Business Development, Small Industries Service Institutes, and the National Small Industries Corporation.
HRD-Concept & Goals, Challenges, Climate, Practices in India, Learning and HRDAshish Hande
The document discusses key concepts in human resource development including definitions of HRD, the need for HRD in organizations, functions and goals of HRD, challenges in HRD, and learning principles and strategies that can maximize training outcomes. It provides an overview of concepts such as the difference between HRD and HRM, objectives and practices of HRD in Indian industries, and theories related to learning styles, transfer of training, and Gagné's domains of learning.
This document discusses behavioural implementation and the roles and skills of strategic leaders. It describes how strategic leaders guide organizations towards success through their individual behaviors and as part of groups. The document outlines the structure of strategic leaders at the corporate, business, functional, and operational levels. It also identifies key skills of strategic leaders like anticipating, challenging assumptions, interpreting information, deciding, learning, and aligning stakeholders. The roles of the CEO and board of directors in determining strategy and monitoring performance are discussed. Finally, the document covers types of power and how leadership styles impact strategic implementation.
Strategic evaluation and control is the final phase of strategic management. It operates at two strategic and operational levels to assess consistency with the environment and pursuit of strategy. The purpose is to evaluate strategy effectiveness in achieving objectives. It tests strategy effectiveness and keeps the organization on track to objectives through feedback and corrective actions. Strategic evaluation involves participants across the organization and provides lessons for new planning, though barriers like measurement difficulties must be addressed.
This document discusses entrepreneurship and small business. It defines entrepreneurship as planning, organizing, operating, and assuming risk of a business. Small businesses are privately owned by individuals and have sales and assets that are not large enough to influence their environment. Small businesses play an important role by creating the majority of new jobs and being responsible for innovations. The document outlines strategies for entrepreneurial organizations such as choosing an industry and developing competitive advantages. It also discusses financing options, franchising, reasons for startup successes and failures, and performance factors.
The document discusses strategic choice in building a multicultural organization. It defines strategic choice as the decision that determines a firm's future strategy and addresses which path it will take. A SWOT analysis is conducted to examine strengths, weaknesses, opportunities, and threats, and the best applicable strategy is selected to achieve organizational objectives. The process of strategic choice involves focusing on alternatives, analyzing them, evaluating strategies, and making a strategic choice. Gap analysis is used to narrow alternatives and selection factors like objective and subjective criteria are used to evaluate strategies.
8 ethical and social considerations in strategy developmentTaranpreet Kaur
This document discusses key ethical and social considerations in strategic planning. It identifies stakeholder participation, organizational values, individual values, and managing change as the main ethical considerations. Stakeholder participation, organizational values, and individual values are described as "acid tests" to ensure a strategy is developed with appropriate information and aligned with ethical standards. Change management is also highlighted as important to strategic planning to engage people and minimize risks from resistance to changes.
Human resource development (HRD) involves providing organized learning experiences to improve employee job performance and growth over time. It includes training programs that provide employees with skills and knowledge needed to perform job functions. HRD plays an important role in dynamic market economies by developing employee knowledge, skills, abilities, and values. Key techniques of HRD include performance appraisals, potential appraisals, career planning, employee training programs, social and cultural programs, teamwork, worker participation, monetary and non-monetary rewards, and grievance mechanisms. These techniques are used to assess needs, develop careers, provide training, motivate employees, and resolve issues.
This document provides a syllabus for an Entrepreneurial Development course. It outlines 4 units that will be covered: (1) entrepreneur traits and types, (2) competing theories of entrepreneurship and entrepreneur development programs, (3) entrepreneur motivation and behavior, and (4) searching for business ideas and preparing feasibility reports. The syllabus also includes sample questions that will be asked to assess students, focusing on defining key terms and explaining concepts covered in the various units.
This document provides an overview of strategic management concepts including definitions of strategy, the strategic management process, and frameworks for strategic analysis. It defines strategy as a plan to achieve organizational goals. The strategic management process involves setting strategic intent through vision and mission, formulating strategy by analyzing the external and internal environment, implementing strategy, and evaluating performance. Frameworks explained include the levels of strategy (corporate, business, functional), McKinsey's 7S model analyzing seven internal elements, and forms of corporate strategies like growth, stability, and retrenchment.
Purpose of promotion, basis of promotion, Meaning of transfer, reasons for transfer, types of transfer, right sizing of work force. Need for right sizing.
This document provides an overview of business environment analysis and entrepreneurship. It defines business environment and discusses factors like internal environment, market environment, and macro environment. It also explains tools for analyzing business environment like PESTEL analysis and SWOT analysis. The document outlines key elements of developing an effective business plan including executive summary, company description, products/services, marketing plan, financial projections, and more. Overall, the document presents concepts and frameworks for understanding a business's external environment and internal strengths/weaknesses as tools for entrepreneurial planning.
small business & epreneurship development U2.pdfkittustudy7
The document discusses entrepreneurial environment and the entrepreneurial development process. It defines entrepreneurial environment as a place that emphasizes identifying and pursuing opportunities while accepting calculated risks. It notes that entrepreneurial environment includes factors like government policies, access to financing, and the legal system.
The entrepreneurial development process is summarized as having five phases: idea generation, opportunity evaluation, planning, company formation/launch, and growth. Opportunity evaluation involves determining if an opportunity is worth investing in. Planning creates a business strategy and operating plan. Company formation makes the venture a legal entity.
1. The document discusses the business environment, including internal factors like management structure that companies can control, and external factors like economic conditions, technology, and politics that companies cannot control but must respond to.
2. It describes tools for analyzing the environment like SWOT analysis to identify strengths, weaknesses, opportunities, and threats. Managers should focus on strengths, fix weaknesses, seize opportunities, and address threats.
3. Managers must understand how the changing environment affects their business and make decisions accordingly, such as what business they are in, their target customers, and whether to expand in response to opportunities or threats.
Strategic management contribute to :
develop competitive advances and reveals implementation practices and mechanisms of control
Allow a long-term alignment and a progressive environment strategy
Lead to globalization and strategic flexibility
The document provides an overview of strategic management including definitions, comparison of strategic, tactical and operational levels, types of policies, and the strategic management process. It defines strategic management as the art and science of formulating, implementing, and evaluating cross-functional decisions to enable an organization to achieve its objectives. The strategic management process involves vision and mission formulation, objective setting, strategy development, implementation, and performance evaluation. It aims to create value through exploiting core competencies and achieving synergy.
The document discusses the business environment, including its definition, concepts, significance, nature, elements, and economic factors. It defines business environment as the aggregate conditions surrounding and influencing a business. The forces that make up the business environment are suppliers, competitors, consumer groups, government, customers, economic conditions, and more. Understanding the business environment is important for identifying opportunities and threats, tapping resources, coping with changes, assisting in planning, and improving performance. The economic environment influences businesses through factors like demand, interest rates, inflation, recession, income, employment, taxes, and consumer confidence. Government economic policies and reforms also impact businesses. Public sector development has contributed to capital formation, infrastructure growth, export promotion, import substitution, income generation
The document provides an overview of business and its environment. It discusses [1] the nature of business, goals of business, and trends in modern business. It then covers [2] the importance of corporate governance, social responsibility, and business ethics. Finally, it analyzes [3] the different factors in a business environment and how businesses must analyze and respond to changes in their external environment.
The document provides an overview of business and its environment. It discusses [1] the nature of business, goals of business, and trends in modern business. It then covers [2] the importance of corporate governance, social responsibility, and business ethics. Finally, it analyzes [3] the different factors in a business environment and how businesses must understand and respond to their environment to be successful.
The document provides an overview of business and its environment. It discusses [1] the nature of business, goals of business, and trends in modern business. It then covers [2] the importance of corporate governance, social responsibility, and business ethics. Finally, it analyzes [3] the different factors in a business environment and how businesses must analyze and respond to changes in their external environment.
This document provides an overview of business environment concepts including:
- It defines business and discusses the different types of business organizations like sole proprietorships, partnerships, and corporations.
- It explains that a business plan and environmental analysis are important tools to understand opportunities and threats in the business environment.
- It outlines the key internal and external components that make up the business environment, such as economic conditions, technology, competition, and regulations.
Page 1 of 2 Capstone Experience in Integration & Strategy .docxalfred4lewis58146
The document discusses undertaking a strategic audit to improve a company's performance. It recommends the following initial steps:
1) Analyze the external environment, including competition, market trends, and changes in customer needs.
2) Evaluate the company's resources and capabilities to determine what is and isn't working given the company's growth.
3) Assess if the company has the right people in the right jobs and make changes if needed.
4) Review the strategic plan and vision to ensure they are aligned with current capabilities.
. Introduction to Corporate Strategy(CS))debajanipalai
The term strategy is derived from the Greek word “Strategos” means a plan or process or a set of decision rules or an arrangement to create a common thread.
It is the path or the way to achieve the goals of the organization or corporate.
It helps the manager proactively to direct or run the organization in a volatile environment.
It consists of WH questions.
Mintzberg has defined the strategy which consists of “5Ps” such as: plan, pattern, position, ploy and perspective.
A Plan “how to achieve the target”.
A Pattern “to take consistent actions over time”.
A Position “to be achieved by offering goods and services in particular market”.
A Ploy “how to beat the competitors by using tactics and tricks with proper allocation and utilization of resources”.
A Perspective “it is the vision of the organization what it want to be”.
Strategy is concerned with to achieve the broad goals of the organization.
It establishes unique value proposition compared to its competitors.
It provides tailored value to its customers.
It clearly identifies and clarifies what not to do.
It empowers the organization to move towards its vision.
It creates environmental scanning to gain competitive advantage.
External environment is the environment outside of the organization which influences the business. It can broadly be categorised into two parts: Micro Environment & Macro Environment.
Micro Environment studies the small area of business or immediate periphery of the organization. It directly influence and regulate the business.
E.g.: customers, suppliers, creditors, vendors, competitors and local community.
Macro Environment: It studies overall business activity in a broad manner. It influences business on the basis of “PEST”: Political, Economic, Socio-cultural and Technology.
Internal Environment is a component of the business environment, which is composed of various elements present inside the organization that can affect and be affected by the decision of the organization and its activities.
The internal environment of the organization consists of employees, management, owner, shareholders, investors and all other resources.
Factors influencing external environment are: value system, vision, structure, culture, human resource, physical resource, technical-know-how etc.
Strategic Advantage Profile (SAP) is a summary statement which provides an overview of the advantages and disadvantages in key areas which affect future operations of the organization.
It is the systematic evaluation of strategic advantage which is significant for the business and its environment.
It involves analysis of internal strength and weakness along with opportunities and threats by focusing on complete study of functional areas like: marketing, production, finance, accounting, personnel, R&D.
In March 2019, the Korea of Minister of Strategy and Finance announced a strategy to spread the
second venture boom in cooperation with relevant ministries. You can start high-tech innovation start-ups by
strengthening your business
This document outlines the key concepts and principles of strategic management. It discusses corporate strategy and why it is important for organizations. Corporate strategy involves commitments, decisions and actions to achieve competitive advantage and above average returns. It allows companies to keep pace with a changing environment, minimize competitive disadvantages, provide a clear strategic vision and goals, motivate employees, and strengthen decision-making. The document also defines strategy and outlines Mintzberg's 5 P's of strategy - plan, pattern, position, ploy, and perspective. Overall, corporate strategy is a comprehensive master plan for how a company will achieve its mission and objectives.
This document discusses sustainability reporting and how companies decide which sustainability initiatives to pursue. It provides insight into how companies gather, assess, and disseminate information about their socially responsible activities. Specifically, it outlines the benefits of sustainability reporting, how to embed sustainability in organizations, identifying material sustainability matters, managing these matters, and communicating performance through reporting.
The term strategy is derived from the Greek word “Strategos” means a plan or process or a set of decision rules or an arrangement to create a common thread.
It is the path or the way to achieve the goals of the organization or corporate.
It helps the manager proactively to direct or run the organization in a volatile environment.
It consists of WH questions.
Mintzberg has defined the strategy which consists of “5Ps” such as: plan, pattern, position, ploy and perspective.
A Plan “how to achieve the target”.
A Pattern “to take consistent actions over time”.
A Position “to be achieved by offering goods and services in particular market”.
A Ploy “how to beat the competitors by using tactics and tricks with proper allocation and utilization of resources”.
A Perspective “it is the vision of the organization what it want to be”.
Characteristics:
Strategy is concerned with to achieve the broad goals of the organization.
It establishes unique value proposition compared to its competitors.
It provides tailored value to its customers.
It clearly identifies and clarifies what not to do.
It empowers the organization to move towards its vision.
It creates environmental scanning to gain competitive advantage.
External environment is the environment outside of the organization which influences the business. It can broadly be categorised into two parts: Micro Environment & Macro Environment.
Micro Environment studies the small area of business or immediate periphery of the organization. It directly influence and regulate the business.
E.g.: customers, suppliers, creditors, vendors, competitors and local community.
Macro Environment: It studies overall business activity in a broad manner. It influences business on the basis of “PEST”: Political, Economic, Socio-cultural and Technology.
Political Factors consists of employment laws, tax policy, policies regarding trade & tariffs, environmental regulation and political stability.
Economic Factors consists of economic growth, interest rate, exchange rate and inflation rate.
Socio-Cultural Factors consists of health consciousness, population growth rate, age, career attitude, emphasis on safety etc.
Technological Factor consists of R & D activity, automation, technology incentives and change in technology.
Internal Environment is a component of the business environment, which is composed of various elements present inside the organization that can affect and be affected by the decision of the organization and its activities.
The internal environment of the organization consists of employees, management, owner, shareholders, investors and all other resources.
Factors influencing external environment are: value system, vision, structure, culture, human resource, physical resource, technical-know-how etc.
The internal environment environmental analysis generates long list of resources and capabilities which play vital role in strategy formulation.
It determines the strength and weakness of the organization.
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2. Meaning:
Entrepreneurship development is the means of
enhancing the knowledge and skill of
entrepreneurs through several classroom
coaching and programs, and training. The main
point of the development process is to
strengthen and increase the number of
entrepreneurs.
In simple words, the entrepreneurship
development process is about supporting
entrepreneurs to advance their skills with the help
of training and coaching classes. It encourages
them to make better judgments and take a
sensible decision for all business activities.
3. Definition:
Entrepreneurship Development is defined as a
process of enhancing the skill-set and knowledge
of entrepreneurs regarding the development,
management and organization of a business venture
while keeping in mind the risks associated with it.
This is carried out through training programs,
education, reorientation and creation of conducive and
healthy environment for the growth of enterprises.
The Entrepreneurial development is a key to achieve
overall economic development through higher level of
industrial activity. It is a process in which persons are
injected with motivational drives of achievement and in
sight to tackle uncertain and risky situations especially
in business undertakings.
4. Process Of Entrepreneurship
Development
1. Clear view of objective of the program
2. Selecting the potential target
3. Identifying local talents and markets
4. Choosing right location
5. Tying up with institutions
6. Develop the entrepreneurship program
as needed
7. Analyze the result for future
development
5. Significance & Role of
Environment Infrastructural
network
Entrepreneurs are not born…. They
are made right from the childhood.
The environment around the
entrepreneur makes an Entrepreneur.
6. Environmental factors
Parents
Friends
Teachers
School Atmosphere
Neighbourhood
Society around him
Entrepreneurship is the result of the
interaction and assimilation of different
social and environmental factors.
7. Entrepreneurial environment
Entrepreneurial environment Is a
combination of factors that play a role in
the development of entrepreneurship.
First, it refers to the overall economic,
socio-cultural, and political factors that
influence people’s willingness and ability
to undertake entrepreneurial activities.
Second, it refers to the availability of
assistance and support services that
facilitate the start-up process.
8. The available literature on
entrepreneurial environment can be
grouped into three broad streams:
1. General environmental conditions for
entrepreneurship.
2. Environmental conditions of a
particular country or region, and
3. The role of public in shaping the
entrepreneurial environments.
9. GENERAL ENVIRONMENTAL
CONDITIONS
General environmental conditions that may
influence entrepreneurship include:
Legal and institutional frameworks for efficient
functioning of private enterprises.
Presence of experienced entrepreneurs and
skilled labour force.
Accessibility of suppliers and customers or
new markets.
High degree of competition among firms.
Favourable government policies.
Provision of training and support services.
Supportive infrastructure.
10. In addition, the literatures suggests
that the characteristics of people,
their skills, experience, and
motivation, play important roles in
new venture creation.
11. Country Or Region Specific
Environmental Conditions
Countries that keeps rules and regulations at
a minimum, offer tax and other incentives, and
provide training and counselling services to
start-up entrepreneurs increase the likelihood
of new ventures start-ups.
Furthermore, factors such as availability of
financial resources, large size urban areas,
and presence of universities for training and
research are found to be very important to
increase the rate of new venture creation.
12. Studies also show that
entrepreneurs face several
obstacles, such as lack of financial
assistance, lack of information on
various aspects of business,
excessive taxation, and high rate of
inflation.
13. Role Of Public Policy
Scholars that focused on the role of public policy
suggest several policy options for developing
entrepreneurship.
These policy options include provision of:-
Venture capital funds.
Tax-based incentives and government
procurement programs
Protection of proprietary ideas and innovations
Investment in education and research
Explicit recognition of and support for,
entrepreneurship by government agencies.
Fostering of entrepreneurship by educational
institutions, and
14. ROLE OF INFRASTRUCTURAL
NETWORK
The basic of infrastructure at the place
of the project help in:-
Speedy implementation of the project.
Reduces costs.
Increase profitability.
Better or rapidly improving infrastructure
in a particular area may attract more
entrepreneurial activities.
15. Basic infrastructure
requirements
Certain infrastructural elements seem to make
substantial impact on the entrepreneurial
environment.
Modern transport and communication facilities
that provides easy access to suppliers and
customers.
Road network
Connected to rail
Ports
Airports
16. Location decisions of based on the community’s
ability to supply trained and capable workers
and on the proximity to research and
development institutions.
Existence of universities and research and
development programs
A well-educated and technically skilled labour
force, and
Supporting industries
Climate conditions
Logistics support:
A. Electricity
B. Water
17. Most commercial operations such as venture
capital firms and commercial banks tend to
exhibit greater interest in concentrated, urban
areas that usually have a well-developed
infrastructure and concentrated demand for
funds.
They also favour areas where businesses are
easier to supervise and monitor and the cost
of supervising and monitoring loans is
relatively low.
18. ENVIRONMENTAL ANALYSIS
Positive environment
Encourages entrepreneurial
development and growth
This is called entrepreneurial
motivation
19. ENVIRONMENTAL ANALYSIS
Environmental analysis is described as the
process which examines all the components,
internal or external, that has an influence on
the performance of the organization.
The internal components indicate the
strengths and weakness of the business entity
whereas the external components represent
the opportunities and threats outside the
organization.
Finally, Environmental Analysis is awareness
of the organization to the success.
20. NEED & IMPORTANCE OF
ENVIRONMENTAL ANALYSIS
They help the managers to achieve the
organizational objectives effectively than
other organizations.
An enterprise can not achieve its
objectives unless it adapts itself to
Environmental change.
Systematic analysis enables the
managers to predict the future and to
have enough time for other activities.
This minimizes the time pressure of the
21. Process of Environmental
Analysis
1. Identifying Environmental Factors:-first of all,
the factors which influence the business entity are
to be identified, to improve its position in the
market. The identification is performed at various
levels, i.e. Company level, Market level, national
level and global level.
2. Scanning and selecting relevant and key
factors:- scanning implies the process of critically
examining the factors that highly influence the
business, as all the factors identified in the
previous step effects the entity with the same
intensity.
3. Defining variables for Analysis:- a careful
analysis of all the environmental factors is made to
22. 4. Using different methods, techniques and tools:-
some of the methods are benchmarking and network
methods. Some of the techniques are brainstorming,
survey, historical enquiry. Some of the analytical tools
are mean, median and mode, frequency.
5. Forecasting environmental factors:- after
identification, examination and analysis, lastly the impact
of the variable is to be forecasted.
6. Designing Profiles:- internal area are recorded in
Strategic Advantages Profile (SAP), and External
areas are recorded in Environmental Threat and
Opportunity Profile (ETOP). These two profiles are
designed & combined in to one.
7. Strategic positions and report writing:- after
analysis of business environment a strategist knows the
actual situation and can make some future forecasting
based on the Environmental Analysis.
23.
24. LIMITATIONS OF
ENVIRONMENTAL ANALYSIS
Environmental analysis suffers from
certain limitations also. These are as
follows:-
1. Lack of forewarning of unforeseen
events:
2. No assurance as to organization
effectiveness:
3. Not fully reliable:-
4. Absence of strategic approach:-
25.
26. Entrepreneurship Development
Program
Programme to develop entrepreneurial
abilities among people.
Inculcation, development and polishing of
entrepreneurial skills into a person
needed to establish and successfully run
the enterprise.
Widen base of entrepreneurship by
development, achievement and
motivation.
27. Meaning & Definition of EDP
Meaning: Entrepreneurial Development
Programme (EDP) refers to a programme which is
formulated to assist the individuals in reinforcing
their entrepreneurial motives, and attaining
competencies and skills which is essential for
performing an entrepreneurial role successfully.
Definition: According to N. P. Singh :
"Entrepreneurship Development Programme is
designed to help an individual in strengthening his
entrepreneurial motive and in acquiring skills and
capabilities necessary for playing his
entrepreneurial role effectively and is necessary to
promote this understanding of motives and their
impact on entrepreneurial values and behavior for
28. Needs of EDP
Superior performance of entrepreneurs.
Induce motivation and competence
among the young prospective
entrepreneurs.
Programmes similar to India’s EDPs are
conducted in other countries also, for
example, ‘Junior Achievement
Programme’ based on the principle of
‘catch them young’ in USA and ‘Young
Enterprises’ in the U.K.
29. Objectives of EDP
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 the existing market situation and
environment.
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.
The overall objectives of EDP are mainly to help in the
rapid growth of the economy by supplying skilled
entrepreneurs. This programme primarily aims at
30. Contd.
Develop and strengthen the entrepreneurial
quality, i.e. Motivation or need for
achievement.
Analysis environmental set up relating to
small industry and small business.
Understand process and procedure involved
in setting up a small enterprise.
Know the sources of help and support
available for starting up a small scale
industry.
Acquire the necessary managerial skills
required to run a small-scale industry.
Know the pros and cons in becoming an
31. Phases of EDP
An EDP consists of following three
broad phases:-
A) Pre-training phase
B) Training phase
C) Post training phase( follow-up)
32. A) Pre-training phase
The activities and preparations required to
launch the programme come under this
phase.
It includes:-
1. Designing of course-curriculum or
contents.
2.Exploring & selecting appropriate faculty
and resource persons.
3. Insertion of achievement.
4. Screening & Selecting of potential
entrepreneurs.
33. B) Training phase
The main objectives of this phase is to
bring desirable change in the behaviour of
trainees.
The behavioural changes that need to be
measured and monitored through the training
programme are:-
A) Raising the motivation level of
entrepreneurs.
B) Developing a goal directed behaviour
pattern.
C) Raising positive thinking & belief.
D) Arousing change oriented innovative psych.
34. C) Post training phase( follow-
up)
This phase involves the assessment to
judge how far the objectives have been
achieved.
The purpose behind EDP follow-up is to:-
A) Review the pre-training work.
B) Review the process of training
programme.
C) Review past training approach.
35. Evaluation of EDP
The following main criteria can be employed
to comment on the performance of
entrepreneurs:-
1. Financial results
2. Gestation period
3. Capacity utilization
4. Expansion and diversification
5. Value addition
6. Other factors
36. Role of EDP
An Entrepreneurship Development Programme
primarily plays four roles to help an individual to
become an entrepreneur. They are:
Stimulatory Role: It aims at influencing people in
large number to be the entrepreneur. This includes:
1. Developing managerial, technical, financial, and
marketing skills.
2. Inculcating personality traits.
3. Promotes and reforms entrepreneurial behavior and
values.
4. Identifying a potential entrepreneur applying scientific
methods.
5. Motivational training and building a proper attitude.
6. Strengthening the motive of a person and giving
recognition.
37. Supportive Role: It helps in the following ways:
1. Registration of the business
2. Procurement of fund
3. Incubation support
4. Team building and team development support
5. Mentorship and guidance from industry
experts
6. Providing tax relief, subsidy, government
schemes etc.
7. Guidance in product marketing
8. Support for management consultancy
38. Sustaining Role: It aims at providing an
effective safeguard to businesses to
sustain against the cut-throat market
competition. This includes:
1.Help in modernization, expansion, and
diversification
2. Additional financing for further
development
3.Global Networking Opportunities
4.Creating new marketing processes
5.Helping access to improved services
and co-working centers
39. Socio-economic Role: It aims at upgrading the
socio-economic status of the public and
includes:
1. Identifying entrepreneurial qualities in
practicality.
2.Creating employment opportunities in micro,
small, and medium industries on an immediate
basis.
3.Arresting concentration of industries by
supporting regional development in a balanced
manner.
4.Focusing on the equal distribution of income
and wealth of the nation.
40. Govt. & Private institutions
A number of government and private institutions are
providing assistance in India to entrepreneurs.
Some of them are listed below :
Small Industries Development Organisation (SIDO),
Commercial Banks,
National Alliance of Young Entrepreneurs (NAYE),
National Institute for Entrepreneurship and small
Business Development (NIESBUD),
Entrepreneurship Development Institute of India
(EDI),
India Investment Centre (LIC),
Small-scale industrial Development Bank Of India
(SIDBI), and
Technical Consultancy Organisation (TCO).
41. Importance of EDP
The importance of EDP is as follows :-
1) Formation of Employment Opportunities :
2) Provides Adequate Capital :
3) Proper Utilization of Local Resources :
4) Increased Per Capital Income :
5) Improved Standard of Living :
6) Economic Independence :
7) Preventing Industrial Slums :
8) Reducing Social Tension :
9) Facilitating Overall. Development :
42. Problems of EDP
These are as follows:-
1. No policies at national level:-
2. Problems at pre-training phase:- identification of business
opportunities, finding & locating target group, selection of trainee &
trainers etc.
3.Over estimation of trainees:-
4. Duration of EDPs:-varies between 4 to 6 weeks, which is too short
period to instil managerial skills in entrepreneurs.
5. Non availability of infrastructural facilities:-
6. Improper Methodology:-course content are not standardized and
most of the agencies are not clear about what they are supposed to
do for the attainment of pre-determined goals.
7. Mode of selection:- no uniform procedure adopted by agencies
for the identification of prospective entrepreneurs.
8. Non availability of Competent faculty:- they are not prepared to
take classes in small towns and backward areas.
9. Poor response of financial institutions:-entrepreneurs are not
able to offer collateral security for the grant of loans.