Professional Documents
Culture Documents
Unit V: (8 Hrs)
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Women who innovate initiate or adopt business actively are called women
entrepreneurs.
J.
Schumpeter
BASED ON PARTICIPATION:
1. Accept challenges
2. Ambitious
3. Hard work
4. Patience
5. Motivator
6. Adventurous
7. Conscious
8. Educated
9. Intelligent
MG SI P P n r f MP F L L L r o aa o c b l e m
et a o rr i a b a a sk l w e p o e f c i fi c
n ff s o r l et r
b e ck u m l c m b cd r i uo s s t i o
t oe er o u f r i km nw l k e oi s m e n
m at r ei a y on et a a ns t r e p r
pn lp w r pk i f t n iee n f n o e u r
p ge o o m b
er gd m a
tp r af l i e t
o t em fi r i r i
o d at s i ob o n
b o n a l bc u i l i i e t
nb a l tc l yy
e n l
e a
m e c
m s e
mt i
so
n
Nationalized banks
State finance corporation
State industrial development corporation
District industries centers
Differential rate schemes
Mahila Udyug Needhi scheme
Small Industries Development Bank of India (SIDBI)
State Small Industrial Development Corporations (SSIDCs)
Examples:
1. Mahila Grih Udyog: 7 ladies started in 1959: Lizzat Pappad
2. Lakme: Simon Tata
3. Shipping corporation: Mrs. Sumati Morarji
4. Exports: Ms. Nina Mehrotra
5. Herbal Heritage: Ms. Shahnaz Hussain
6. Balaji films: Ekta Kapoor
7. Kiran Mazumdar: Bio-technology
Women in India are faced many problems to get ahead their life in business. A few
problems can be detailed as;
1. The greatest deterrent to women entrepreneurs is that they are women. A kind of
patriarchal male dominant social order is the building block to them in their way
towards business success. Male members think it a big risk financing the ventures
run by women.
7. The male - female competition is another factor, which develop hurdles to women
entrepreneurs in the business management process. Despite the fact that women
entrepreneurs are good in keeping their service prompt and delivery in time, due to
lack of organizational skills compared to male entrepreneurs women have to face
constraints from competition. The confidence to travel across day and night and
even different regions and states are less found in women compared to male
entrepreneurs. This shows the low level freedom of expression and freedom of
mobility of the women entrepreneurs.
9. Knowledge of latest technological changes, know how, and education level of the
person are significant factor that affect business. The literacy rate of women in
India is found at low level compared to male population. Many women in developing
nations lack the education needed to spur successful entrepreneurship. They are
ignorant of new technologies or unskilled in their use, and often unable to do
research and gain the necessary training (UNIDO, 1995b, p.1). Although great
advances are being made in technology, many women's illiteracy, structural
difficulties, and lack of access to technical training prevent the technology from
being beneficial or even available to females ("Women Entrepreneurs in Poorest
Countries," 2001). According to The Economist, this lack of knowledge and the
continuing treatment of women as second-class citizens keep them in a pervasive
cycle of poverty ("The Female Poverty Trap," 2001). The studies indicates that
uneducated women don't have the knowledge of measurement and basic
accounting.
10. Low-level risk taking attitude is another factor affecting women folk decision to
get into business. Low-level education provides low-level self-confidence and self-
reliance to the women folk to engage in business, which is continuous risk taking
and strategic cession making profession. Investing money, maintaining the
operations and ploughing back money for surplus generation requires high risk
taking attitude, courage and confidence. Though the risk tolerance ability of the
women folk in day-to-day life is high compared to male members, while in business
it is found opposite to that.
11. Achievement motivation of the women folk found less compared to male
members. The low level of education and confidence leads to low level achievement
and advancement motivation among women folk to engage in business operations
and running a business concern.
12. Finally high production cost of some business operations adversely affects the
development of women entrepreneurs. The installation of new machineries during
expansion of the productive capacity and like similar factors dissuades the women
entrepreneurs from venturing into new areas.
Reference: http://www.indianmba.com/Faculty_column/FC293/fc293.html
Right efforts on from all areas are required in the development of women
entrepreneurs and their greater participation in the entrepreneurial activities.
Following efforts can be taken into account for effective development of women
entrepreneurs.
Social enterprise is a business model that puts people and community first, ahead
of private or personal gain, while operating in a commercially viable and sustainable
way.
Two other key components of the wider Social Enterprise ecosystem are Social
Innovation and Social Finance.
1. Social Innovation
2. Social Finance
Social Innovation: Social innovation means new strategies, ideas, concepts and
organizations that meet social needs. Social innovation aims to save or better lives,
improve social ills and solve problems. Social innovation is often undertaken by
social entrepreneurs and social enterprises. Social Entrepreneurs Ireland defines
'social entrepreneurs' as individuals involved in the development of new, creative
and innovative solutions to address the needs of specific communities or society in
general. Social entrepreneurs are risk-takers with the commitment and drive to
effect social change. The rate of growth in Social Enterprise Awards and the number
of applicants to the Arthur Guinness Fund are just two indicators of a surge in
interest in social innovation.
Clann Credo was the first social finance provider in Ireland, established specifically
to service the borrowing needs of community and voluntary groups and social
enterprises.
Social entrepreneurship is
PRACTICE QUESTIONS:
RURAL ENTREPRENEURSHIP
Rural Industry: According to the Khadi and village Industries Commission (KVIC),
village industry or rural industries means industries located in rural area whose
population does not exceed 10000 or any such figure that provides goods or renders
any services with or without use of power and in which the fixed capital of an
artisan or a worker does not exceed a thousand rupees.
1. Individual entrepreneurship
2. Group entrepreneurship
3. Cluster formation
4. Co-operatives
Categories:
All the village industries have been grouped into seven major categories which are
as follows:
1. Mineral based industry ,
2. Forest based industry ,
3. Agro based industry ,
4. Polymer and chemical based industry ,
5. Engineering and non conventional industry ,
6. Textile industry (including Khadi) , and
7. Service industry
The need for and growth of rural industries has become essential in a country like
India because of the following reasons:
The following are some of the measures suggested for developing entrepreneurship
in the rural areas in the country :
1. Raw material: the availability of raw material is a must for any industry. It is
clear from the past experience that rural Industries having employment
potential cannot be sustained for long unless a strong raw material base is
created in rural areas itself.
2. Finance: it is considered as lubricant for setting up and running an industry.
Therefore finance need to be available on time for those who really need it.
3. Entrepreneurial education: it is one of the effective ways to inculcate the
entrepreneurial Acumen and attitude imparts entrepreneurial education in
schools, colleges, and Universities.
4. Unawareness: of facilities the main problem in setting up industries is not the
unavailability of facilities but non Awareness of facilities whatever are
available. Therefore there is a need to disseminate information about all that
is available to provide to the entrepreneurs to facilitate them in setting up of
the industries.
5. Set up modern infrastructure: Solve the problem of marketing for rural
industries there is a need to set up common production-cum-marketing
centers and developed with modern infrastructural facilities in the areas
having good production and growth potential that helps in promoting export
business.
Primary level NGOs: the NGOs who mobilize their own resources, operates at
international level and execute developmental activities themselves or
through any immediate fall in this category.
Intermediate NGOs: these NGOs procure Finance from different Agencies and
then imparts training, and conduct workshops for the target workforce.
Grass root level NGOs: these NGOs conduct field activities establishing a
direct contact with the needy (Grass root) people.
The training imparted by the NGOs to the needy can be categorized into three
broad types:
Stimulation: conduction of EDP s and training programs for the target people
to stimulate the enterprising attitude among them.
Counseling: Providing Consultancy Services and counseling to the needy
about how to prepare a project, purchase of plant and machinery, feasibility
report, and performing are the procedural activities.
Assistance: providing assistance to the target group about marketing the
product and servicing Finance from Financial Institutions.
FAMILY BUSINESS ENTREPRENEURSHIP
A business actively owned and/or managed by more than one member of the same
family. Five unique resources every family business possesses:
1. Human capital. The first resource is the family's human capital, or "inner
circle." When the skill sets of different family members are coordinated as a
complementary cache of knowledge, with a clear division of labor, the
likelihood of success improves significantly.
2. Social capital. The family members bring valuable social capital to the
business in the form of networking and other external relationships that
complement the insiders' skill sets.
3. Patient financial capital. The family firm typically has patient financial capital
in the form of both equity and debt financing from family members. The
family relationship between the investors and the managers reduces the
threat of liquidation.
4. Survivability capital. The family company must manage its survivability
capital-family members' willingness to provide free labor or emergency loans
so the venture doesn't fail.
5. Lower costs of governance. The family business must manage its ability to
hold down the costs of governance. In nonfamily firms, these include costs for
things such as special accounting systems, security systems, policy manuals,
legal documents and other mechanisms to reduce theft and monitor
employees' work habits. The family firm can minimize or eliminate these
costs because employees and managers are related and trust each other.
The model of the EPM concept is presented in Figure 1. In this post I am providing a
general overview of this concept.
(1) innovativeness,
(2) autonomy, (3) risk-taking,
(3) pro-activeness and
(4) Aggressiveness.
What is Project?
Projects can be further defined as temporary rather than permanent social systems
or work systems that are constituted by teams within or across organizations to
accomplish particular tasks under time constraints. An on-going project is usually
called (or evolves into ) a program.
Classification of Projects:
All India and state financial institutions classify projects according to their
age, experience and the purpose:
a. New projects
b. Expansion projects
c. Modernization projects
d. Diversification projects
These projects are invariably are profit- oriented.
5. Services Projects
a. Welfare projects
b. Research and development projects
c. Educational projects