Entrepreneurship Development Programme (EDP)

EDP – Introduction to Entrepreneurship Development Programme

Entrepreneurship Development Programme is primarily meant for developing those first generation entrepreneurs who on their own cannot become successful entrepreneurs. It covers three major variables- location, target group and enterprise.

Any of these can become the focus or starting point for initiating and implementing an EDP.

1. B Com 2 nd Sem KSAWU Syllabus WOMEN ENTREPRENEURSHIP Role of financial institutions in support of women entrepreneurial activities EDP Smt. Uma Minajigi Reur Head, Dept. of Commerce & Management Smt. V G Degree College for Women, Kalaburagi

2. B.COM SYLLABUS SECOND SEMESTER 2.6: WOMEN ENTREPRENEURSHIP Objectives: To acquaint students with the concepts of women entrepreneurship and to familiarize with the entrepreneurial development process. Pedagogy: Classroom lecture, Assignments and Field Visit. Unit 1: Introduction: Concept, meaning and definition of Women entrepreneur and Women entrepreneurship, Characteristics and Types of entrepreneurs, Functions of Women entrepreneur, evolution of Women Entrepreneurship in India, Entrepreneurial skills and competency requirements for women entrepreneur, Role of Women entrepreneurship in economic development. (15 Hours) Unit 2: Opportunities and challenges faced by women entrepreneurs: Challenges faced by Women entrepreneurs, Opportunities for an entrepreneurial career, measure to improve women entrepreneurship, factors influencing the women entrepreneurship, entrepreneurial motivation concept. (10 Hours) Unit 3: Role of financial institution in support of women entrepreneurial activities: SIDBI, DIC, CEDOK, RUDSETI, SFC, EDII, KVIC, (objectives and functions), Long term and Short term financing. Women empowerment through Entrepreneurship Development Programmes. (15 Hours) Unit 4: Government Schemes and Institutional support to Promote Women Entrepreneur: Trade Related Entrepreneurship Assistance and Development (TREAD) scheme for Women, AWAKE, WIMA, NAYE, Mahila Coir Yojana, Mahila Udyam Nidhi, Stand-up India, Annapurna Scheme, Stree Shakti Package For Women Entrepreneurs, Bharatiya Mahila Bank Business Loan, Dena Shakti Scheme, Udyogini Scheme, Cent Kalyani Scheme, Mahila Udyam Nidhi Scheme, Mudra Yojana Scheme For Women, Orient Mahila Vikas Yojana Scheme, etc. (20 Hours) Unit 5: Project Identification and Formulation: Meaning of project, project identification, project selection, project formulation: meaning, significance, contents, formulation steps, Planning Commission’s Guidelines for formulating a Project report, Specimen of a project report. (10 Hours)

3. Unit 3: Role of financial institutions in support of women entrepreneurial activities : Small Industries Development Bank of India (SIDBI) District Industries Centre (DIC) Centre for Entrepreneurship Development of Karnataka (CEDOK) Rural Development and Self Employment Training Institute (RUDSETI) State Financial Corporation (SFC) Entrepreneurship Development Institute of India (EDII) The Khadi and Village Industries Commission (KVIC) Long term and short term financing. Women Empowerment through Entrepreneurial Development Programmes.

4. Entrepreneurship Development Programme (EDP)

5. Entrepreneurship Development Programme (EDP) EDP – Introduction to Entrepreneurship Development Programme Entrepreneurship Development Programme is primarily meant for developing those first generation entrepreneurs who on their own cannot become successful entrepreneurs. It covers three major variables- location, target group and enterprise. Any of these can become the focus or starting point for initiating and implementing an EDP.

6. Entrepreneurship Development Programme (EDP) Entrepreneurship development programme is a programme meant to develop entrepreneurial abilities among the people. The concept of entrepreneurship development programme involves equipping a person with the required skills and knowledge needed for starting and running the enterprise. EDP is an effective way to develop entrepreneurs which can help in accelerating the pace of socio-economic development, balanced regional growth, and exploitation of locally available resources. It takes care of all the constraints and therefore it is proved to be one of the most effective tools for developing new entrepreneurs. EDPs are planned programmes developed to identify, inculcate, cultivate, develop, and polish the capabilities and skills as the prerequisites of a person to become an entrepreneur. The EDPs focus on training, education, reorientation and creation of conducive and healthy environment for the growth of entrepreneurship.

7. Entrepreneurship Development Programme (EDP) These programmes broadly envisage a three tiered approach, developing achievement motivation and sharpening of entrepreneurial traits and behaviour , project planning and development and guidance on industrial opportunities, incentives and facilities and rules and regulations, and developing managerial and operational capabilities. Various techniques and approaches have been developed and adopted to achieve these objectives keeping in view the target groups and or to target areas.

8. Entrepreneurship Development Programme (EDP) Small Industries Extension and Training Institute (SIET 1974), now National Institute of Small Industry Extension Training (NISIET), Hyderabad defined EDP as “an attempt to develop a person as entrepreneur through structural training. The main purpose of such entrepreneurship development programme is to widen the base of entrepreneurship by development achievement motivation and entrepreneurial skills among the less privileged sections of the society.”

9. Entrepreneurship Development Programme (EDP) According to N. P. Singh (1985), “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. It is necessary to promote this understanding of motives and their impact on entrepreneurial values and behaviour for this purpose.” Now, we can easily define EDP as a planned effort to identify, inculcate, develop, and polish the capabilities and skills as the prerequisites of a person to become and behave as an entrepreneur.

10. Entrepreneurship Development Programme (EDP) Till now, 12 State Governments have established state-level Centre for Entrepreneurship Development (CED) or Institute of Entrepreneurship Development ( lED ) to develop entrepreneurship by conducting EDPs. Today, the EDP in India has proliferated to such a magnitude that it has emerged as a national movement. It is worth mentioning that India operates the oldest and largest programmes for entrepreneurship development in any developing country. The impact of India’s EDP movement is borne by the fact that the Indian model of entrepreneurship development is being adopted by some of the developing countries of Asia and Africa. 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.

11. Entrepreneurship Development Programme (EDP) Entrepreneurship Development Programme   –  Objectives Entrepreneurship Development Programme (EDP) in India has many objectives. (1) Develop and strengthen their entrepreneurial quality/motivation; (2) Analyse environment related to small industry and small business; (3) Select project/product; (4) Formulate projects; (5) Understand the process and procedure of setting up of small enterprise; (6) Know and influence the source of help/support needed for launching the enterprise;

12. Entrepreneurship Development Programme (EDP) (7) Acquire the basic management skills; (8) Know the pros and cons of being an entrepreneur; and (9) Acquaint and appreciate the needed social responsibility/entrepreneurial disciplines. Further some of the other important objectives of entrepreneurial training are: ( i ) To let the entrepreneur set or reset the objectives of his business and work individually and along with his group for their realisation . (ii) To prepare him for accepting totally unforeseen risks of business after such training. (iii) To enable him to take strategic decisions

13. Entrepreneurship Development Programme (EDP) (iv) To enable him to build an integrated team to fulfill the demands of tomorrow. (v) To communicate fast, clearly and effectively (vi) To develop a broad vision to see the business as a whole and to integrate his function with it. (vii) To enable him to relate his product and industry to the total environment, to find what is significant in it and to take it into account in his decisions and actions. (viii) To enable him to cope with and coordinate all relevant paper work, most of which is statutorily obligatory. (ix) To make him accept industrial democracy, that is, accepting workers as partners in enterprise; and (x) To strengthen his integrity, honesty, and compliance with law, the key to success in the long run.

14. Entrepreneurship Development Programme (EDP) Entrepreneurship Development Programme – Features The basic features of Entrepreneurship Development Programme have gone through several   modifications overtime as: (a) Identification and careful selection of entrepreneurs for training; (b) Developing the entrepreneurial capabilities of the trainee; (c) Equipping the trainee with the basic managerial understanding and strategies; (d) Ensuring a viable industrial project for each potential entrepreneur;

15. Entrepreneurship Development Programme (EDP) Entrepreneurship Development Programme – Course Contents and Curriculum of EDPs The course contents of an EDP should be formulated as per the objectives of the EDPs. It should consist of the following: 1. General Approach to Entrepreneurship: The participants should be given exposure about the conceptual framework of entrepreneurship role, expectation, Entrepreneurial environment etc. Innovative behaviour related issues should be focused to enlighten the entrepreneurs about their future challenges and prospects. Besides, development agencies should try to design appropriate strategies enabling the potential entrepreneur to tackle different risk inherent in an innovation activity.

16. Entrepreneurship Development Programme (EDP) These risks are as follows: ( i ) Technical risks – the risk of not knowing enough about the technical processes, materials etc. (ii) Economic Risks – the risk of market fluctuations and changes in relation to raw materials etc. (iii) Social Risks – the risk inherent in the development of new relationship. (iv) Environmental Risks – risk which result from environmental changes in the manager’s work as an outcome of the new activity. Moreover, prospective entrepreneurs should be given a detailed information with regard to facilities generally provided by the government and other agencies involved in promotion of entrepreneurship.

17. Entrepreneurship Development Programme (EDP) 2. Motivational Training: Motivational training inputs are meant for developing the motivation of potential entrepreneurs and their enterprise building skills. Besides, motivational inputs also include psychological games, tests, goal setting exercises, role play etc. The motivational inputs will be aimed at increasing the participants, understanding of the entrepreneurial personality and entrepreneurial behaviour and bring about through self-study, changes in self-concept, value, skills thereby leading to positive entrepreneurial behaviour . The major motivational inputs may be given in the beginning of the training programme on full time basis though the learning effected through them will be reinforced and used throughout the training programme . The understanding of the entrepreneurial personality and behaviour will be supplemented through interface with one or two successful as well as not so successful entrepreneurs.

18. Entrepreneurship Development Programme (EDP) 3. Developing Management Skills: Prospective entrepreneurs should be given exposure in different types of management problems. It would sharpen their management skills. The management problems take different forms and the management patterns are peculiar to the situation. So, training for exposing managerial skills will be arranged in keeping the situational requirements. However, managerial aspects should include production planning, labour laws, cost analysis, financial accounting, selling arrangements, taxation laws etc.

19. Entrepreneurship Development Programme (EDP) 4. Training for Project Management: Project inputs are required to help the potential entrepreneurs to develop their project ideas into bankable projects. They should be given acquaintance with the industrial opportunities in the area and also necessary guidance on product selection. Necessary knowledge about project feasibility, viability and implementation should also be given to the potential entrepreneurs. Under project preparation, technical feasibility includes selection of technology, availability of raw materials, selection of location and site, availability of plant and machinery, infrastructure facilities, roads, transport, power, manpower/personnel requirement. Similarly, market analysis, level of competition, capital cost, working capital requirement, estimated cost of production, projected sales volume, profitability estimates, expected rate of return, projected cash flows and break even analysis are different aspects that have to be incorporated in assessing the commercial viability of the project.

20. Entrepreneurship Development Programme (EDP) 5. Structural Arrangement: Training inputs also aim at familiarising the participants about the proposed structural arrangement for the business or industrial unit. They should be given adequate familiarisation about government policy regarding development of industries, especially with regard to small scale industries, registration and licensing procedures, forms of organisation like proprietary, partnership, private company and Joint Stock Company, institutional setup etc.

21. Entrepreneurship Development Programme (EDP) 6. Support System: In most of the cases, participants are generally first generation entrepreneurs and they do not know about the government and institutional support system. Support system may also be used as motivational inputs to encourage the participants about their future prospects. They should be familiarised with the incentives/concessions available, tax-incentives, tax holiday, backward/zero industries districts concessions, soft loan scheme, special schemes for technicians etc. This should be followed by acquainting them with procedure for approaching government departments and agencies, applying for and obtaining these concessions from them.

22. Entrepreneurship Development Programme (EDP) 7. Factory Visits/In-Plant Training: Practical exposure is also necessary. Depending upon their products the potential entrepreneurs may feel the need to gain more knowledge about the production process etc. by visiting some of the similar units in production. For this purpose, factory visits may have to be arranged. Similarly, entrepreneurs who select relatively sophisticated products will be expected to have a good idea of the product and the process facilities should be arranged for in-plant training or prototype development on exceptional basis.

23. Entrepreneurship Development Programme (EDP) Entrepreneurship Development Programme  – Need Entrepreneurship Development Programme is very much essential for the first generation entrepreneurs because proper training and guidance will help them to get success. It is promoted to help alleviate the unemployment problem, to overcome the problem of stagnation and to increase the competitiveness and growth of business and industries. The thrust of entrepreneurship development programme is to motivate people to accept entrepreneurship as a career. Training and successful entrepreneurs becomes ideal for other.

24. Entrepreneurship Development Programme (EDP) Following are the various needs for EDPs: ( i ) Eliminates Poverty and Unemployment: (ii) Balanced Regional Development and Growth: (iii) Prevents Industrial Slums: (iv) Harnessing Locally Available Resources: (v) Defuses Social Tension: vi) Capital Formation: (vii) Improvement in per Capita Income: (viii) Facilitating Overall Development:

25. Thank You