PROMOTION OF A VENTURE- opportunity analysis external environment analysis

PPT .

1. PRESENTATION OF SEMINAR ON ENTREPRENEURSHIP TOPIC: PROMOTION OF A VENTURE- OPPORTUNITY ANALYSIS EXTERNAL ENVIRONMENT ANALYSIS PRESENTED BY: TANU TIWARI

2. CONTENT PROMOTION OF VENTURE-MEANING STEPS TO ESTABLISH ENTERPRISE OPPORTUNITY ANALYSIS -ENTREPRENEURIAL OPPORTUNITY -PERCEIVING AN OPPORTUNITY - SENSING ENTREPRENEURIAL OPPORTUNITES EXTERNAL ENVIRONMENT ANALYSIS GENERAL TOPIC

3. PROMOTION OF VENTURE MEANING: Promotion of venture is the process of Starting an enterprise .It begins when an idea of establishing a venture conceived either by a person or a group of persons and thereafter ,go for identifying scope ,nature and size of the proposed enterprise.

4. STEPS TO ESTABLISH ENTERPRISE STEPS 1:-EXPLORING THE BUSINESS OPPURNITIES STEPS 2;-PREPARATION OF PLAN FOR ACTION STEPS 3:-SELECTION OF AN APPROPRIATE FORM OF BUSINESS ORGANISATION STEPS 4:-LOCATION OF BUSINESS STEPS 5:-IDENTIFY AND ARRANGE THE REQUIRED RESOURCES STEPS 6:PROVISION-AL REGISTRATI -ON

5. EXPLORING THE BUSINESS OPPORTUNITIES Setting up a successful enterprise start with the selection of a good business idea .A business idea is a concept that can be for a financial gain ,that is generally centered on a product or service and that can be offered for money. A business . The idea may be related to manufacture something new or existing product, to purchase and sell a new or an existing product or to offer existing product, to purchase and sell a new or an existing product or to offer existing or new service to the client.

6. PREPARATION OF PLAN FOR ACTION Entrepreneur will have to prepare a plan of action after selection of a particular product .The following main aspects of the action plan should be kept in mind before preparing the plan of action. Nature of Business Selection of the product Selection of organization Location of enterprise

7. Arrangement of finance Acquiring Machinery and Technology Apply for Power and Water Connection Recruitment and Training of Workers

8. SELECTION OF AN APPROPRIATE FORM OF BUSINESS ORGANISATION An enterprise can be owned by one person individually or many persons jointly. This decision is important because the choice of ownership from affects the right, duties and obligations of owners as well as liabilities. Different form of business ownership are available such as sole proprietorship, Partnership ,Company, Cooperative Society, Joint Hindu Family Business .

9. There are number of factors to be considered while selecting an appropriate form of business organization. 1)Process of starting a business enterprise, 2)Availability of financial, managerial, technical and other resources. 3).Business risk 4)Liability of members 5)Stability of business 6)Maintenance of Secrecy 7)Area of operation 8)Government Regulations

10. LOCATION OF BUSINESS The location of the place of business is decided by entrepreneurs after the selection of nature and suitable form of business. The following factors should consider in deciding the location of business. Nearness to the source of raw material Availability of Transportation facilitates Availability of Banking , Insurance , Warehousing facilities. Adequate supply of power and water Availability of required labor

11. Availability of civic amenities Nearness to market Facility for disposal waste Tax concession and other incentives Price of land Social and Political Conditions of locality Climatic conditions

12. IDENTIFY AND ARRANGE THE REQUIRED RESOURCES Entrepreneurs have to identify and arrange the resources needed to establish a business unit after deciding the line of business, form of organization and location of business. The main resources needed for any type of business are – men, money, material and physical facilities like plant, machinery, land and building.

13. PROVISIONAL REGISTRATION Provisional Registration enables the entrepreneur to convert his ideas into reality. The entrepreneur has to submit application for Provisional Registration to the District Industries Centre DIC issues the certificate of provisional registration within the 7 days on the receipt of application. The validity period of provisional registration is 6 months which can be renewed for a further six months .Provisional Registration enables the entrepreneur to apply for shed in industrial estate, apply for power connection ,apply loans to banks and financial institutions etc. The application form for provisional registration will accompany various other documents like stamp fee 3 passport size photo of entrepreneur, copy of project report, photocopy of ration card etc.

14. OPPORTUNITY ANALYSIS MEANING OF THE OPPORTUNITY O pportunity exist in the environment. Set of circumstances that makes it possible to do something new. May be defines as side effect of change. Opportunity is the eye of the beholder. Opportunity as an attractive project idea which an entrepreneur accepts as basis for his investment decision. Opportunity is a favourable or disadvantage circumstances or combinations of circumstances.

15. ENTREPRENEURIAL OPPORTUNITY Entrepreneurial opportunity motivates the entrepreneurs to accept a particular project to make investment in term of adequate rate of return . There are two major criteria to make a possibility as an entrepreneurial opportunity. (a)The demand is more than the supply of the market. There is no chance of loss as customers demand the required product much more than its production. (b)The business investment is expected to earn adequate and sufficient rate of return than in a normal course of business.

16. PERCEIVING AN OPPORTUNITY Opportunity exist in the environment. Perceiving an opportunity means becoming aware of opportunity in the surrounding. Entrepreneur perceive opportunity rapidly. Examine the available data and information and study the emerging trends that escape others. Entrepreneurs are the people with big dream, a vision and able to monitor the opportunity, share and support to exploit.

17. SENSING AN ENTREPRENEURIAL OPPORTUNITY Grabbing the opportunity and setting up a business enterprise to provide solution of different problems. Grabbing the opportunity and setting up a business enterprise to provide solution of different problems. Grabbing the opportunity and setting up a business enterprise to provide solution of different problems. SENSING ENTREPRENEURIAL OPPORTUNITES NEEDS AND PROBLEMS OF THE SOCIETY CREATIVE SOLUTIONS ENTRPRENURIAL OPPORTUNITES

18. ATTRIBUTES IN ORDER TO SENSE AND UNDERSTAND THE ENTREPRENEURIAL OPPORTUNITIES: Creativity Imagination Intuition Innovativeness Communicability

19. MAJOR COMPETENCIES THE ENTREPRENEUR MUST POSSES TO SENSE THE OPPORTUNITY Skill to understand and examine the enterprise opportunity. Trait to study the strength of the opportunity. Ability to make difference between the real and perceived value of the opportunity. Quality to check the risks and their return. Ability to work even in adverse situations. Ability to plans his activities.

20. FACTORS INVOLVED IN THE PROCESS OF SENSING OPPORTUNITES SENSING OPPORTUNITIES- FACTORS ABILITY TO PRECEIVE AND PRESERVE BASIC DATA ABILITY TO PRECEIVE SOURCES OF KNOWLEDGE AND INFORMATION VISION AND CREATIVITY PROBLEM CHANGE INVENTIONS COMPETITION

21. OPPORTUNITIES AND ENTREPRENEURSHIP Entrepreneurial opportunity have defined as situations in which new goods, raw materials, markets and organizational methods can be introduced through the formation of new means, ends or means ends relationship. On the other hand, entrepreneurship is the process by which opportunity are discovered , evaluated and exploited for creating future goods and service.

22. WHAT HELPS ENTREPRENEURS TO IDENTIFY NEW BUSINESS OPPORTUNITIES ? Think Differently: People think differently, feel differently have gained throughout their lives. These differences are critical and central to the process of identifying opportunities . The task of an entrepreneur is to identify a real pain point and come up with an innovative solution of situation. Gain knowledge and experience : Knowledge and experience play dominant parts in opportunity identification and exploitation. Entrepreneur should get as much knowledge as possible about the industry in order to identify new opportunity.

23. Understand needs and wants : Entrepreneurs who understand by the needs , problems and wants of the society can find possibilities for new products and processes. Entrepreneurs create desire for new products by presenting benefits and values of their products .

24. IDEAIDEA GENERATION IDEA GENERATION GENERATION IDEA GENERATION Entrepreneur can take a through study of ideas of various kinds of the basis of scanning of environment. It will also lead to different type of situation from which he has to choose the product or services. This stage of generation of ideas. It is basically related to collect ideas from different sources for the purpose of searching an innovative solution to a social need or problem.

25. SOURCES OF IDEA GENERATION: Brainstorming Market Search Collection of Information Getting help from entrepreneurs Personal Hobbies Day Dreaming and Fantasizing

26. EXTERNAL- ENVOURNMENT EXTERNAL ENVIRONMENT ANALYSIS SCANNING OF ENVIRONMENT Environment refers to all those aspects of the surroundings of an enterprise which influence its activities . “Environment Scanning is the process by which strategies monitor the environment factors to determine opportunities for and threats to their firms . Environment scanning also consist of managerial decisions made by assessing the significance of the data of the environment analysis.” -JAUCH AND GLUECK

27. IMPORTANCE OF ENVIRONMENT SCANNING EFFECTIVE USE OF RESOURCES ENVIRONMENTAL ANALYSIS POLICY FORMULATION IDENTIFICATION OF THREATS AND OPPORTUNITIES PREDICTION OF FUTURE

28. ENVIRONMENT SCANNING PROCESS ECONOMY - Gross Domestic Project -Per Capita Income -Economic Growth Rate -Inflation Rate -Unemployment Level -Currency Exchange Rate GOVERNMENT - Political Climate -Political stability and risk -Government debt -Corporate and personal taxes -Import tariffs and quotas LEGAL - Business Laws -Environment Protection Laws -Foreign trade and investment laws -Consumer Protection laws -Employee protection laws TECHNOLOGY - Efficiency of infrastructure -Industrial Productivity -New manufacturing process -New products and service of competitors.

29. SOCIO- CULTURAL - Population size and distribution -Age distribution -Education levels -Income levels -Religious affiliations -Role of family -Consumerism -Environmentalism -Importance of work STAKEHOLDERS - Shareholders -Employees -Partners -Public -Political POTENTIAL SUPPLIERS LABOUR -Quantity and quality of labour are available. -Stability of labour supply -Wages expectations Strikes and labour relations. -Education facilities Material -Quantity , quality , price and stability of material -Delivery time and delays -Levels of competition among suppliers SERVICE -Quantity , quality , price and stability of service.

30. FACTORS INFLUENCES ENTREPRENEURIAL ENVIRONMENTS A. Economic Factors: Important external factor are Economic conditions Economic Planning Economic Infrastructure Availability of Capital Facilities Labour Per Capita Income B . Social factors: It includes: Pluralistic society Rural Society Poverty Illiteracy and Ignorance Linguistic Diversity Caste and casteism Communalism Regionalism Tradition and Modernity

31. C . Political Environment : It refers to general stability of the economy in which person has to perform the entrepreneurial activities. The main forces of political environment are: Political Philosophy Political Atmosphere Quality of Leadership D. Legal Factors: Legal scanning of the entrepreneurial environment Require the deep study of Legal requirement in the setting up of a project , managing of the project and also take the help of various sources. E . Financial Factors: One of the most essential resources to start and run an enterprise is finance . Both short term and long term finance is needed by entrepreneurs to perform activities.

32. GENERAL TOPIC

33. OPPORTUNITY ANALYSIS IN RUPNAGAR, PUNJAB FMGC Business opportunity in Rupnagar , Punjab: FMGC (Fast-Moving Consumer Goods) sector is the India’s fourth-largest sector. The FMGC companies are: 1.Fena Wanted to appoint HoReCa Hotel /Restaurant/catering sales Distributorship Business Opportunities in Rupnagar.

34. 2. Polo Chikki Wanted to appoint Wholesale Distributors in Rupnagar, Punjab Best FMCG Distributorship Business Opportunities in Rupnagar, Punjab. 3.Nikhar Wanted to appoint FMCG Distributors in Rupnagar, Punjab Best FMCG, HAIR, BEAUTY, BODY, SKIN CARE Products Distributorship Business Opportunities in Rupnagar, Punjab

35. EXTERNAL ENVIRONMENT ANALYSIS OF FMGC MARKET ECONOMIC FACTOR: Current slowdown in global economic scenario affected almost every industry across the world. There has been increase in unemployment and low consumer spending power. This leads to consumers not opting to buy expensive products or services. This further pressurizes the FMCG companies to reduce the prices for the products and services.

36. POLITICAL FACTOR Political factors will have a greater influence on the organization and industry and it is the duty of the organizations to comply with it. It is necessary for the organizations to comply with the legislations implemented non conformance of which may lead to serious implications on the organization. The government has implemented certain restriction in the import policies. However tax exemptions in sales and excise duty are provided for the small scale industries.

37. Technological Factor: Advancement in technology boost the production with enhancement in quality of products and services rendered to the customers. Organizations began to adopt e-business to improve brand communication and market. Technological advancement makes the supply chain and transactions along the chain simple. Organizations reduced costs with effective IT technologies and increased the rate of information transactions. Technology is playing a key and huge part in the FMCG sector by developing the new packaging, increasing productivity and longer shelf life of food products.

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