TERM PAPER ON

INFORMAL ENTERPRENEURSHIP( FOR THE PARTIAL COMPLETION OF B.B.A)

Submitted By: UNDER

THE GUIDANCE OF

AKASH GUPTA DR.PRABHAT

SRIVASTAVA

11065101007

BBA 6TH SEM

Shri Ramswaroop Memorial GroupOf Professional College

Lucknow

Acknowledgment

I would like to express my very great

appreciation to. DR.PRABHAT SRIVASTAVA for

his valuable and constructive

suggestions during the planning and

development of this research work. His

willingness to give his time so

generously has been very much

appreciated.

I would also like to thank my friends

and close ones for enabling me to

perform the proceedings in the better

manner. Finally, I wish to thank my

parents for their support and

encouragement throughout my study.

AKASH GUPTA11065101007

TABLE OF CONTENT

Introduction

Planning

Types of planning

Decision making

Communication

Time management

Qualities of Entrepreneurships

Conclusion

Bibliography

INTRODUCTION

The small scale organizations have proved to

make profitable gains and their importance to

Entrepreneurship has lead to the growth of

the economy. Small-scale enterprises has

created a lot of jobs around and manifested

to increase the economy .Through innovation

and there has been an economic growth by

these enterprises. The need for managerial

concepts and techniques through training and

counseling ended up in success. A guideline

from the field experience in the design and

delivery of entrepreneurship developmental

programs monograph was written. Monograph had

the themes, topics and issues of successful

field experience in the design and delivery

of effective programs. Business creation

involves entrepreneur and the project. While

some programmers concentrate on one aspect or

the other

or maybe a mixture of both. The most

acknowledged aspect of small scale

enterprises is to create employment, less

burden on the government and more focus on

self -reliance for e.g. Japan and Korea.

The programme design consists of why is it

being attempted, to whom is it directed and

resources available. Although there may be

opportunities but resources are not available

to that extent. There is a need to ensure

that the government does not discriminate

against the small firms i.e. licensing

procedures, import controls taxations and

other regulatory mechanisms. The people

making the programme design should be aware

of the social, political and economic

factors. Taking a look at the economic

factors he/she should consider these points

in mind:

Nature of the market: if it is a large scale

or a small scale market. Small scale

enterprises deal with small local markets and

vice versa.

Market analysis is an important part in

trainees training in developing their

projects. The trainees which already have

motivational and technical skills are

selected. Training entrepreneurs for business

cr eation for business creation has multiple

objectives:

Creating large supply of entrepreneurs,

Industrial development of rural areas,

Employment is generated, Improving the

performance level of small industries by

selecting trained entrepreneurs.

The economic factors affect the social and

political goals as well due to the reason

that the economic activity generates

employment and the income generating project

earns a high rate of return which raises the

self-esteem of people. They are as legitimate

social and political factors as economic

objectives of resource either through

personal savings, retained earnings and

getting loan. This is a precise way to start

a business for small firm companies.

The site of the business without premises

adds to difficulties in a way that no

credibility with customers, no security of

the firms assets etc.

Training and development organizations have

formal and informal training. In the United

States introduces an awareness of the

operation of the economic system and the role

of businesses, small and big, in providing

goods and services. In the North America and

elsewhere, many colleges and universities now

have entrepreneurship courses, and some even

have degree programs in their curriculum.

Evaluation: appropriate methodology, and what

should be measured. In harpers survey he

contacted over 100 programs and received 52

replies out of which 33 should successful

trainees.

Most training programs for entrepreneurs

combine some form of classroom activity with

field experience. Here the managerial refers

to management training, as distinct from the

process of business creation which consists

of feasibility analysis, business planning

and project implementation. In the monograph

we shall examine the following programmed

components:

(a)Identification, recruitment and selection

of trainees

(b)Opportunity guidance

(c)Business motivation and behavior training

(d)Technical training

(e)Management training

(f)Entrepreneurship training

Planning

It is that if you fail to plan, you are

planning to fail.

Planning is the thoughtful process in which

an entrepreneur thinks, anticipates,

forecasts, judges and decides.

Types of plans

There are for types of plans

Strategic plans

Operational plans

Short term plans

Specific plans

Winston Churchill once said `a goal without a

plan is just a wish `.

Organizing

Organizing it basically means that necessary

physical arrangements be made in terms of

land, building, materials, staffing,

financing, infrastructure, machinery, plants,

tools, technology and above all to setup a

suitable organizational structure and system

to enable the enterprise to function and

implement the plans developed by the

entrepreneur.

Effectiveness

Doing things right is called effectiveness.

Types of effectiveness

There are three types of effectiveness

Apparent effectiveness

Personal effectiveness

Leader`s effectiveness

Criteria of effectiveness

Productivity

Adaptability

Organizatio nal flexibility

Efficiency: -

Efficiency is accomplishing a job with the

use of minimum resources or maximum output

within minimum inputs.

Productivity

It is a measure of efficiency and in its

simplest and most basic form, it can be

expressed as :

Productivity =output/input

Factors affecting productivity:-

Hard factors

Plant and equipment

Technology

Material and energy

Soft factors

People

Organization and systems

Decision making

In ultimate analysis, management is all

decision making. You decide what to achieve?

How to achieve? What to achieve? What

organization is needed? How to organize?

Different approaches to decision making:-

Entrepreneurial

Instinctive

Traditional

Common sense

Professional

Opinion based

Peter .F. Drucker said `wherever you see a

successful business, someone took a

courageous

decision`.

Communication:-

Communication means exchange of information.

Managers manage mainly through communication

verbal, nonverbal, implicit, explicit,

direct, indirect, personal, close, remote,

written, formal and informal in short in a

host of ways.

Communication helps entrepreneurs in

different ways such as negotiations,

finalizing deals, motivating subordinates

e.t.c.

P.F. Drucker said` the most important thing

in communication is to hear what is not being

said`.

Time management

It is something which is a must for everyone

not just entrepreneurs or managers.

According to Sir Arthur Keith “Want of

punctuality is a want of virtue”

Qualities of Entrepreneurships

1. Creative and innovative

2. Flexible and dynamic

3. Task solving attitude

4. Leadership skills

5. Excellent communication and public dealing

skills.

CONCLUSION

I personally found the book a successful effort

with multiple views inviting ones curiosity and

interest for entrepreneurship. The authors have

toiled hard in compilation of concepts and research

by individuals. This book helped me understand the

concepts and importance of entrepreneurship and its

implication in the field today. I recommend this

book as a must read for all the present and future

entrepreneurs.

BIBLIOGRAPHY

www.google.com

www.en.wikipedia.org

www.enterpreneurship.com

www.informalenterpreneur.com