Unit 2

EDP

Q1) What do you mean by EDP?       8

A1) The Entrepreneurship Development Program is primarily aimed at developing first-generation entrepreneurs who cannot become successful entrepreneurs on their own. It covers three main variables: location, target group, and enterprise. Both of these can be the focus or starting point for starting and implementing EDP.

The Entrepreneurship Development Program is a program aimed at fostering people's entrepreneurship. The concept of an entrepreneurial development program involves equipping people with the skills and knowledge they need to start and run a company.

EDP ​​is an effective way to foster entrepreneurs who can help accelerate the pace of socio-economic development, promote balanced growth in the region, and harness the resources available in the region. It handles all constraints and has proven to be one of the most effective tools for developing new entrepreneurs.

Then the other two continue with the first two and proper synthesis. For example, if the goal is to promote female entrepreneurs, then the right place and the right entrepreneurial activity need to match. Or if the purpose is to develop the north-eastern region. The methodology for selecting future entrepreneurs and post-training support services will have a significant impact on the success of the entrepreneurship program.

These programs broadly envision a three-tiered approach, motivating and sharpening entrepreneurial characteristics and behavioural achievements, project planning and development, industrial opportunities, incentives and facilities, guidance and management on rules and regulations. Development of capacity and operational capacity. Various methods and approaches have been developed and adopted to achieve these goals, with a view to target groups and target areas.

Past experience has shown that facility provision, technical assistance, management training, consulting, industrial information and other services alone are not sufficient to develop entrepreneurs. Therefore, the EDP package has been on the market for many years. EDP ​​has become an important strategy for accelerating general industrialization, especially in the small sector, by leveraging a vast amount of undeveloped human skills.

In line with the national program for the promotion and development of local small and medium-sized industries, the Institute of Industrial Services (ISI) under the Department of Industry Promotion (DIP) has launched an EDP to give substance to the government's economic stimulus policy. I did. It grows, decentralizes the industry and facilitates the processing of local raw materials. EDP ​​was considered part of the industrial development policy clarified in the five-year National Economic and Social Development Plan.

Entrepreneurship Development Program-Meaning

The Entrepreneurship Program (EDP) is a program designed to help entrepreneurial motivation and effectively and efficiently acquire the skills and abilities needed to fulfil an entrepreneurial role. Therefore, it is necessary to promote his understanding of motivations, motivational patterns, behavioural implications and entrepreneurial values.

The program that tries to achieve this is called EDP. I would like to emphasize here that there are several programs aimed at providing information and administrative input, and focusing on project preparation. Of course, new entrepreneurs need all this input, but programs that don't touch entrepreneurial motivations and behaviours can't be considered EDP.

Entrepreneurship is essential to the economy. Entrepreneurship can be created in the economy by injecting motivation and motivation and training motivated entrepreneurs and potential people. The Entrepreneurship Program (EDP) is a way to achieve the goals mentioned above.

EDP ​​is a planned program developed to identify, teach, develop, develop, and hone abilities and skills as prerequisites for becoming an entrepreneur. EDP ​​focuses on training, education, turning, and building a facilitative and healthy environment for entrepreneurial growth.

EDP ​​can be thought of as a tool for human resources development. It is a program aimed at fostering entrepreneurship among people. EDP ​​is basically designed to instil entrepreneurial motivation and spirit in people and to develop and develop the skills and abilities needed to succeed in their entrepreneurial role. EDP ​​includes the skills of an entrepreneur, the acquisition, development, and refinement of the knowledge that participants need to establish and succeed in a company.

An entrepreneur is a creator or designer who designs new ideas and business processes according to market demands and his passion. Entrepreneurship is the art of starting a business, basically a start-up that offers creative products, processes, or services. It's a creative activity.

Entrepreneurship development is the process of improving entrepreneurial skills and knowledge through a variety of training and classroom programs. The development of entrepreneurship is related to the study of entrepreneurial behaviour, the dynamics of business establishment, and the development and expansion of a company.

The key to fostering entrepreneurship is to increase the number of entrepreneurs. This will accelerate job creation and economic development. Entrepreneurship is promoted to mitigate the unemployment problem, overcome the problem of stagnation, and increase the competitiveness and growth of business and industry.

Entrepreneurship development is more focused on growth potential and innovation. The development of entrepreneurship is becoming more and more important in economic development. It is a systematic and systematic development. It is an industrialization tool and a solution to the unemployment problem for any country.

Q2) Write the need of EDP.        5

A2) Entrepreneurs have certain abilities and traits. These abilities or traits are the underlying characteristics of entrepreneurs who deliver superior performance and distinguish between successful and unsuccessful entrepreneurs.

Next comes the important issue. Where do these properties come from? Or are these traits born to entrepreneurs or are they induced and developed? In other words, was the entrepreneur born or created? Behavioural scientists sought answers to these questions.

David C, a well-known behavioural scientist at Harvard University. McClelland (1961) conducted an interesting study and experiment on why certain societies showed great creativity at certain times in their history. What was the cause of these creative energy explosions? He found that "necessity of achievement (each factor)" was the answer to this question. It was the need for achievement that motivated people to work hard. According to him, making money was a coincidence. It was just a measure of achievement, not its motive.

To answer the next question of whether this need for achievement is evoked, he is in Kakinada, one of the prosperous districts of Andhra Pradesh, India, at the Institute for Small Industrial Extension Training (SIET). And conducted a five-year experimental study, Hyderabad.

This experiment is commonly known as the "Kakinada experiment". In this experiment, young people were selected, a three-month training program was conducted, and they were motivated to see new goals.

One of the key conclusions of the experiment was that traditional beliefs did not appear to hinder entrepreneurs, and proper training could motivate entrepreneurs as needed (McClelland & Winter1969). Motivation for achievement had a positive impact on entrepreneurial performance.

In fact, the "Kakinada experiment" can be treated as a precursor to current EDP input on behavioural aspects. In a sense, the "Kakinada Experiment" is considered the seed of India's Entrepreneurship Development Program (EDP).

It was the Kakinada Experiment that made people aware of the need and importance of entrepreneurship training, now commonly known as "EDP," to motivate and motivate young future entrepreneurs. The facts remain.

Based on this, the Gujarat Industrial Investment Corporation (GIIC) was the first to launch a three-month training program on entrepreneurship development. Impressed by the results of this training program at GIIC, the Government of India launched a large-scale program on entrepreneurship in 1971. Since then, I haven't looked back on this front. To date, there are approximately 686 all-Indian and state-level institutions engaged in the implementation of hundreds of EDPs that provide training to hundreds of candidates.

To date, 12 state governments have established state-level Entrepreneurship Centers (CEDs) or Entrepreneurship Institutes (lEDs) to foster entrepreneurship by implementing EDPs. .. Today, India's EDP has grown to a scale that has emerged as a national movement. It is worth mentioning that India runs the oldest and largest program for entrepreneurship development in any developing country.

The influence of the Indian EDP movement is supported by the fact that the Indian model of entrepreneurship development has been adopted in several developing countries in Asia and Africa. Programs similar to India's EDP are being implemented in other countries. For example, a "Junior Achievement Program" based on the principle of "catching young companies" in the United States and "young companies" in the United Kingdom.

Q3) What is EDP? Write its objective.      8

A3) The Entrepreneurship Development Program is primarily aimed at developing first-generation entrepreneurs who cannot become successful entrepreneurs on their own. It covers three main variables: location, target group, and enterprise. Both of these can be the focus or starting point for starting and implementing EDP.

The Entrepreneurship Development Program is a program aimed at fostering people's entrepreneurship. The concept of an entrepreneurial development program involves equipping people with the skills and knowledge they need to start and run a company.

EDP ​​is an effective way to foster entrepreneurs who can help accelerate the pace of socio-economic development, promote balanced growth in the region, and harness the resources available in the region. It handles all constraints and has proven to be one of the most effective tools for developing new entrepreneurs.

Then the other two continue with the first two and proper synthesis. For example, if the goal is to promote female entrepreneurs, then the right place and the right entrepreneurial activity need to match. Or if the purpose is to develop the north-eastern region. The methodology for selecting future entrepreneurs and post-training support services will have a significant impact on the success of the entrepreneurship program.

These programs broadly envision a three-tiered approach, motivating and sharpening entrepreneurial characteristics and behavioural achievements, project planning and development, industrial opportunities, incentives and facilities, guidance and management on rules and regulations. Development of capacity and operational capacity. Various methods and approaches have been developed and adopted to achieve these goals, with a view to target groups and target areas.

Past experience has shown that facility provision, technical assistance, management training, consulting, industrial information and other services alone are not sufficient to develop entrepreneurs. Therefore, the EDP package has been on the market for many years. EDP ​​has become an important strategy for accelerating general industrialization, especially in the small sector, by leveraging a vast amount of undeveloped human skills.

In line with the national program for the promotion and development of local small and medium-sized industries, the Institute of Industrial Services (ISI) under the Department of Industry Promotion (DIP) has launched an EDP to give substance to the government's economic stimulus policy. I did. It grows, decentralizes the industry and facilitates the processing of local raw materials. EDP ​​was considered part of the industrial development policy clarified in the five-year National Economic and Social Development Plan.

The Indian Entrepreneurship Development Program (EDP) has many purposes.

A group of experts made up of NIESBUD acknowledged that they must be able to help selected entrepreneurs to:

(1) Develop and strengthen entrepreneurial quality / motivation.

(2) Analyze SMEs and the environment related to SMEs.

(3) Select a project / product.

(4) Develop a project.

(5) Understand the process and procedure for establishing a SME.

(6) Know and influence the sources of help / support needed to start a company.

(7) Acquire basic management skills.

(8) Know the pros and cons of being an entrepreneur.

(9) Know and appreciate the necessary social responsibility / entrepreneurship.

In addition, some of the other important objectives of entrepreneurship training are:

(I) Have an entrepreneur set or reset the goals of his business and work individually and with his group to achieve them.

(II) After such training, prepare him to accept any unexpected risks of the business.

(III) To allow him to make strategic decisions

(IV) To allow him to build an integrated team to meet tomorrow's demands.

(V) Communicate quickly, clearly and effectively

(VI) Take a look at the entire business and develop a broad vision to integrate his functionality with it.

(VII) To allow him to associate his products and industries with the entire environment, find out what is important in it, and take it into account in his decisions and actions.

(VIII) To allow him to deal with and coordinate all relevant paperwork. Most of them are legally required.

(IX) To get him to accept industrial democracy, that is, to accept workers as corporate partners.

(X) Strengthening his integrity, integrity, and legal compliance is the key to long-term success.

Q4) Discuss the entrepreneurial procedure.     5

A4) The entrepreneurial procedure may be described as the stairs taken to installation a brand new commercial enterprise. It's a step-through-step approach and you need to comply with to installation a employer.

There are 5 foremost steps you want to comply with. These steps are as follows:

1. Preparation procedure
2. Decision-making steps
3. Planning procedure
4. Implementation procedure
5. Management procedure

1. Preparation procedure

Preliminary steps are the primary steps you should comply with to installation a employer. At this stage, potential marketers must be capable of make choices that have an effect on the employer.

It may be stated that an entrepreneur changed into born at this stage. Entrepreneurs search for commercial enterprise possibilities and accumulate information / information from all to be had sources.

b.    Decision-making steps

Decision-making steps may be described as the ones steps or training found out through marketers to make green choices.

At this step, marketers may be visible consulting with DIC (District Industrial Center) and MSME (Medium Small & Micro Enterprise). Some of the choices to be made are:

1. Decision to get price range from a financial institution or economic institution.
2. Obtaining, approving, and making use of for a permit.
3. Creation of PPR (initial undertaking report).
4. Decisions on land, buildings, vegetation, machinery, labor, uncooked materials, fuel, energy, water supply, filtration, etc.

Everyone who has an immediate or oblique hyperlink to the patron and the choice-making steps performs a completely critical function in making powerful choices which might be adaptable, cushy and powerful for the employer.

c.     Planning procedure

A plan is an assumption or forecast of destiny commercial enterprise necessities and outcomes. By lowering fees and maximizing profits, we offer area so that it will remember the satisfactory techniques for walking your commercial enterprise.

Some making plans steps include:

1. Planning of infrastructure which includes vegetation and buildings.
2. Obtain permission and approval from the authorities or different legit authorities.
3. Apply for environmental clearance.
4. Purchase of land and approval of mines as needed.
5. Apply for electric connection and water supply.
6. Plan very last feasibility, technical feasibility, and operational feasibility.
7. Research on PPR and guidance of distinct undertaking report (DPR).
8. Get a mortgage or a hard and fast investment.
9. Plan for acquisition and set up of the machine.

Now let's have a look at how this making plans step is in addition converted into an implementation step.

d.    Implementation procedure

Implementation is the execution of the plan. It is the movement taken to perform the plan in order that something really happens.

Below are a few steps that allow you to get a clean concept of ​​how the moves of the making plans step are integrated into the implementation step.

1. Acquisition of land, set up of buildings, buy of uncooked materials.
2. Installation of vegetation and machines, allocation of human resources.
3. Receive a letter of permission and restructuring and acquire a capital investment.
4. Start of operation and manufacturing.
5. Arrangement of fuel, power and water.
6. Develop infrastructure which include roads, hospitals, schools, and residences.
7. Implementation is the maximum critical and hard step. The real effects are discovered at some stage in implementation, generating something this is virtually valuable.

e.     Management procedure

We have visible the jobs and responsibilities of marketers. Managers are very critical now no longer most effective for businesses however additionally for marketers. Some of the managers who cope with you are:

Preparing marketplace rules and techniques.

Manage products or services promotions.

Formulation of pricing policy.

Wholesaler and store management.

Determining the fee of return.

Manage advertising techniques, control marketing and marketing for merchandise or services, control distribution structures for green distribution.

Warehouse management.

Each step has its personal significance and function withinside the improvement and deterioration of the employer.

Becoming an entrepreneur isn't always easy. It's a big choice and calls for difficult work, patience, and difficult work. Before you begin a commercial enterprise, you want to remember and remember numerous elements to growth your profitability potential.

Entrepreneurship

However, the which means of SMEs varies from United States of America to United States of America in line with their respective laws. Criteria rely upon the quantity of employees, turnover, employer assets, and more.

Here are a few elements to preserve in thoughts earlier than beginning a commercial enterprise:

1. Identifying commercial enterprise possibilities.
2. Project guidance.
3. Choice of commercial enterprise possibilities.
4. Access undertaking feasibility (technical, operational, economic advertising).
5. Determination of manufacturing location, office, etc.
6. Determine the scale of the undertaking.
7. Determining the supply of funding.
8. Make choices approximately advertising.
9. Decide to release the undertaking.
10. Determine undertaking plans, packages and rules, and techniques.

Q5) What does achievement programme in EDP mean?   5

A5) The purpose of this program is to consider self-employment and entrepreneurship as one of career options for young people representing different sections of society, including SC / ST / women, former military personnel of different abilities, and BPL people. The ultimate goal is to foster new businesses, foster the development of existing MSMEs, and instil an entrepreneurial culture within the country. According to the scheme guidelines, 40% of women should participate in EAP and E-SDP overall. The program includes:

(I) Industrial Motivation Campaign (IMC): A two-day industrial motivation campaign to identify and motivate traditional / non-traditional entrepreneurs who may establish an MSE and lead to self-employment. Be organized. One day, the IMC for the Cluster SPV / Trade Association / Chamber of Commerce to spread the scheme for the promotion and development of MSME.

(II) Entrepreneurship Program (EAP):-The Entrepreneurship Program is regularly organized to develop young people's talents by educating young people about various aspects of the industrial activities required to establish MSE. It has been. These EAPs are typically implemented in ITI, polytechnics, and other technical institutions, and take advantage of the skills that motivate them to become self-employed. Course content for such entrepreneurial activities includes products / projects, selection and project profile preparation, marketing tools / technologies, product / service pricing, export opportunities, available infrastructure facilities, financial institutions, financial institutions. , Designed to provide useful information about cash flow.

(III) Entrepreneurship-Skill Development Program (E-SDP):-A comprehensive training program organizes a variety of technical and skill development training to develop the skills of future entrepreneurs and existing workforces. Organized to upgrade and develop new MSE worker and technician skills, provide training to improve skills and acquire better and improved technical skills in production. A program with a purpose. Specific tailor-made programs for skills development of socially disadvantaged groups (SC / ST, PH, women) are organized in various parts of the state, including developing areas.

(IV) Business Development Program (MDP):-The purpose of providing training on business practice systems is to improve the decision-making ability of existing and potential entrepreneurs, and to increase their productivity and profitability. Information on various management function topics is provided to participants in short-term training programs. These programs are short-lived and the curriculum is designed according to the needs of the industry and customized according to client requirements.

Q6) Discuss the institutions established by the government.   8

A6) National Institute for Entrepreneurship and SME Development in New Delhi (NIESBUD)

It was founded in 1983 by the Government of India. A pinnacle institution for coordinating and supervising the activities of various institutions engaged in entrepreneurship development. It helps evolve EDPs, model syllabuses, effective training strategies, methodologies, manuals, and tools.

Activities to be carried out:

1. Organization and implementation of training programs
2. Coordination of training activities
3. Providing affiliation to such institutions
4. Conducting examinations and awarding certificates to trainers and trainees

1. Small Industries Service Institutes (SISI)

Three -month part-time evening course in management

4- to 6-week part-time course in intensive training in functional areas (marketing, finance)

Quality control, personnel, production planning, products

Mobile workshops that provide training on the correct use of tools and equipment

Assist in plant layout preparation

Assist individual companies on specific issues they are facing

2.     Small Industries Development Organization (SIDO)

It  Implements  EDP in cooperation with financial institutions and industry bureaus. It conducts vocational training at manufacturing sites (carpentry, electrical equipment)

Dispatch its staff / trainers to the organization and update your knowledge

3.     National Small Industries Corporation (NSIC)

Offering two years of apprenticeship .Training of SSI supervisors for up to two years

Training of engineers for up to two years

Training of workers for 12 months

Unique venture Training to establish

Machine advice and components

Technically advanced machine manufacturing

4.     Ahmadabad, Institute of Entrepreneurship Development (EDII), India.

It develop programs for entrepreneurship training and development

Develop innovative training techniques for trainers

First focused on female entrepreneurs with such EDP in 1988

UP and EDP for fostering rural entrepreneurs in Orissa

Famous for organizing camps on entrepreneurship, Nepal, Ghana, Kenya, etc.

5.     National Alliance of Young Entrepreneurs (NAYE)

Contribution to Promoting Women Entrepreneurship

Established Women's Wing in 1975

This wing supports women in the following areas:

Improve access to resources, infrastructure and markets

Identify investment opportunities

Industry addressing personal issues

Sponsor participation in trade fairs, exhibitions and conferences

Hold seminars, training programs and workshops

6.     MANAGEMENT DEVELOPMENT INSTITUTE (MDI) Entrepreneurship Centre

Objectives

Providing a variety of non-profit-based services to encourage, plan, and link entrepreneurs, businesses, and organizations in India and abroad

Outreach providing facilities and networking for entrepreneurs under the program

Training students to become entrepreneurs

Providing services and training that facilitate entrepreneurs to operate in emerging areas

Various national international centre platforms Professor SVK acting.

7.     Institute for Entrepreneurship Development

IED Disha aims to teach educated and unemployed young people in the state the value of entrepreneurship and motivate them to enter the field of self-employment in 1987.

Since its establishment, the institute has trained multiple easy entrepreneurs in various fields, and the success rate is about 30%.  Currently, the institute is focusing on skill-based training for young people.

Our mission is to promote SMEs through innovative, needs-based entrepreneurship training.  The Institute must act as a national pacesetter in the areas of entrepreneurship education, consulting, research, training, and development. Professor SVK

Q7) How our government supports and develops these small industries?  5

A7) The contribution of small industries and businesses to the Indian economy is immeasurable. Not only do they create wealth and employment, they are also a major factor in social development. In fact, their importance is so great that we have a special ministry dedicated to micro and small businesses. Now let's learn how our government supports and develops these small industries.

Government support

The Government of India has supported and developed the small unit sector. India focuses on rural and domestic industries. In layman's terms, a small business is a project or venture that requires a small budget or is run by a small group.

Both central and state governments have placed greater emphasis on self-employed opportunities in the local sector by providing financing, programs, infrastructure, raw materials and technology training support and support for financing.

The main purpose of the government is to harness local talent and locally available resources. This is further put into action by local departments, institutions, businesses and more. Small industry support includes:

Institutional support

1. National Agricultural and Rural Development Bank (NABARD)

NABARD was founded by the government in 1982 to take action and promote rural industry. We are adopting a multi-purpose strategy to promote rural business in India. It supports small industries, local craftsmen, local industries and domestic industries along with agriculture. It also sets up training and counselling, and also offers development programs for local entrepreneurs.

Browse more topics under SMEs

Meaning and nature of SMEs

SME Role and SME Issues in India

2. Rural SME Development Centre (RSBDC)

RSBDC is a government centre for small and medium-sized enterprises established by organizations around the world, sponsored by NABARD. The main purpose of RSBDC is to work for people and groups at social and economic disadvantages. RSBDC offers a number of programs on gradual skill development, entrepreneurship, awareness, counselling and training.

These programs motivate different unemployed youth and young women to learn different trades and then introduce other good interests.

3. National Small Industries Corporation (NSIC)

NSIC was founded by the government in 1995 with the aim of promoting and supporting small and medium-sized enterprises with a commercial focus. The key features of NSIC are:

We supply imported goods and machines under a rental purchase contract.

Procurement of the supply of imported indigenous raw materials.

Import products to develop SMEs.

Supervision service.

Awareness of technical up gradation.

NSIC has also launched a new scheme called Small Unit Performance and Credit Ratings. This ensures that the higher the credit rating, the more financial support for investment and capital requirements.

4. Indian Small Business Development Bank (SIDBI)

It is the top government-affiliated banks that provide direct and indirect financial support under different schemes to meet the credit requirements of different SMEs.

5. "National Committee for Companies in the Unorganized Sector (NCEUS)"

NCEUS was established by the government in September 2004 for the following purposes:

Measures to improve the productivity of small industries in the informal sector.

Creating jobs in rural areas.

Create links between the small sector and finance, infrastructure, raw materials and technology.

Build a public-private partnership to engage in giving skills to the informal sector.

Providing microfinance to the informal sector.

Provide social security to the informal sector.

Introduction of small-scale competition in the global environment.

6. Development of rural and female entrepreneurship (RWED)

This is a government organization focused on improving the women's business environment and supporting women's business initiatives. It provides a manual for entrepreneurship training and provides advisory services.

7. World Association of Small Businesses (WASME)

WASME is an international organization that is a non-governmental organization of India's micro and small business units that establishes an international committee, focuses on rural development and applies an action plan model for the sustainable growth of rural industries.

8. Fund scheme for the revitalization of traditional industries

Since 2005, the government has established a fund to support these traditional small industries, promote higher productivity and promote their growth and development.

Q8) What is women entrepreneurship?       5

A8) According to the overall concept, a girl entrepreneur can be described as a girl or a set of ladies who start, organize, and run a business enterprise.

The Government of India defines girl entrepreneurship as "a business enterprise owned and managed through a girl who has an monetary gain of extra than 51% of capital and offers ladies as a minimum 51% of the employment created through the business enterprise".

The Kerala Government defines a ladies’ enterprise unit as a unit owned / prepared through ladies and engages in small and home industries, in which extra than 80% of all employees are ladies.

A female entrepreneur may be defined as a woman or a group of women who initiate, organize, and carry out business concerns.

A female entrepreneur is a woman who thinks about a company, starts a business, organizes and combines factors of production, runs the company, takes risks, and deals with the financial uncertainties associated with running the business.

A female entrepreneur may be defined as a woman or a group of women who initiate, organize, and carry out business concerns.

Schumpeter – “A female entrepreneur is a woman who innovates, starts, or hires business activities.”

Government of India – “A female entrepreneur is defined as a company owned and controlled by a woman who has an economic benefit of at least 51% of her capital and gives women at least 51% of the employment created by the company.”

Frederick Harbison – "A woman or group of women who innovates, initiates, or employs economic activity is sometimes referred to as female entrepreneurship."

In short, a female entrepreneur is a woman who thinks about a company, starts it, organizes and combines factors of production, runs the company, takes risks, and deals with the financial uncertainties associated with running the business.

According to the Government of India, "Women's businesses are those owned and controlled by women who have an economic benefit of more than 51% of their capital and give women at least 51% of the employment generated."

According to J. Shunpeter, "Women who actively innovate, start, or hire businesses are called female entrepreneurs."

More than one-third of the world's entrepreneurial ventures are run by female entrepreneurs. Women's entrepreneurship is skyrocketing in India because of economic progress, better access to education, urbanization, the spread of free and democratic culture, and social awareness. India has created special incentives and impetus to drive the growth of female entrepreneurs. Schemes like Start up India and Stand up are also special cases for promoting female entrepreneurship.

Gradually, but steadily, around the world, female entrepreneurs have emerged as successful entrepreneurs and at the same time have won a lot of praise. For example, American entrepreneur, television host and media executive Oprah Winfrey was awarded the Presidential Medal of Freedom in 2013 for her outstanding achievements in the areas of entertainment and social impact.

Kiran Muzumdar Shaw, Chairman and Managing Director of Biocon Limited, an Indian female entrepreneur, has won various corporate awards, including Padma Shri (1989) and Padma Boushan (2005), for her outstanding contributions to the health and medical industry. And received a private award. Other well-known Indian female entrepreneurs include Vandana Luthra, Ekta Kapoor and Naina Lal Kidwai.

Q9) What are the features of EDP?       5

A9) All female entrepreneurs with remarkable success have developed the following traits for very simple reasons: These traits are one of the absolutely important traits for long-term success and business growth.

1. Courage is the first feature. It takes courage to start your own business. Everyone may have opportunities, but only those who are brave enough to take advantage of them can benefit from them. It takes some courage, as being an entrepreneur does not provide a guarantee of success.

2. Vision is another necessary quality of a successful female entrepreneur. Entrepreneurs are visionary thinkers. They look out of the box. They recognize the world in terms of what is not, what is not.

3. Passion is a feature found in the toolbox of almost every female entrepreneur. The early stages of business development and ownership can often be tedious, with many long hours and sleepless nights. When business ownership is motivated and supported by passion and a true strong burning desire. That way, entrepreneurs see disability as an opportunity, not as a problem.

4. Persistence is probably the most important property of all. Many people don't stick to one thing long enough to see the results. Persistence is demonstrated by everyone who accomplishes great things, a quality that we all can develop over time.

It's also about maintaining that discipline with permanence through the least interesting parts of running a business.

5. Balance is important to avoid over-taking the characteristics. There is a point where attention to detail can be obsessive and calm can be an emotionless reaction.

As a female entrepreneur, you must be able to balance these traits and get the most out of them without crossing the edge. Just as an entrepreneur doesn't have a boss to keep working when he needs it, an entrepreneur doesn't have a boss to send home when he's done. If you work for yourself, you must decide how to balance your work with your family life.

6. Being known as an expert is important for any entrepreneur. The more people you become known for your expertise in your field, the more people will ask you to use your expertise, thereby creating more sales and referral opportunities. 

Q10) What are the qualities of a female entrepreneurship?   5

A10) The important qualities of a female entrepreneur are:

1. Positive attitude:

There is no energy that can mimic what is released when a positive, high-step woman enters the room. Positive attitude is the fuel needed to drive us from conception to realization of ideas.

A positive attitude requires conscious effort on your part. Stop negative thoughts and replace them with positive thoughts. Listen to what you are saying to yourself in your heart. Intentionally use words that focus on the constructive and positive truth about you. Surround yourself with people who encourage, inspire, and believe in helping you stay positive. If you have a positive attitude, you will be able to see the possibilities within you.

2. Vision:

A female entrepreneur is a big picture. She can see what a successful business looks like in all its components. She can put her own products on her shelves and see her own services in action. Not only is she afraid to dream her big dreams, she thinks she can achieve her fantasies.

3. Autonomy:

This woman likes to control herself and she is not afraid to make her own decisions. She is happy that she is alone and she is confident in her intellect. She is her person in charge. This woman does not wait for someone else to act and never guesses her choice again.

4. Intuitive:

A female entrepreneur relies on her instincts about her products and services, markets, and her business management skills. She uses her instincts, her research and her knowledge to guide her business decisions. She knows that her instincts can differentiate herself from her competitors and ultimately lead to success.

5. Characteristic:

People remember this woman. She is unique. Her products and services are unique and her company is independent. There is nothing normal here.

6. Planner:

This woman not only devises her own business plan and writes it down on paper, but also follows it. She never loses sight of her goals and ways to reach them. When she reaches the fork in her road, she may explore another route and add it to her business plan. But she never forgets her vision. Her business plan is a written version of her vision.

7. Risk Taker:

This woman is not the first to throw a dice in her entrepreneurship. She is not afraid to bet everything on her own. She has previously been known to jump.

8. Drive:

Failure is not an option for devoted entrepreneurs. The bumps on the road do not retreat her, but she will strengthen her determination. She has a mission and knows she can reach her goals.

Leader qualities:

Some of the excellent leadership qualities of female entrepreneurs are:

i. Accept the challenge

Ii. Adventurous

Iii. Ambitious

Iv. Conscious

v. Drive

Vi. Educated

Vii. Enthusiastic

Viii. Determined to the end

Ix. Hard work

NS. Enthusiasm to learn and absorb

Xi. Patience

Xii. Well experienced

Xiii. Diligence

Xiv. Intellectual

Xv. Motivation

Xvi. Skilful

Xvii. Perseverance

Xviii. Diligence

Xix. Indelible optimism.

The basic problem with women is that she is a woman and her gender is weak. In addition, her two responsibilities are for her family, society and work. Many women do not receive the support of elders when their communal family collapses. They still suffer from men's reservations about women's roles and abilities. Women in rural areas are primarily engaged in groundbreaking low-wage farming activities or acting as handicraft helpers.

If you give a girl a skill, it feels like a waste because when you get married you lose the skill. Social attitudes keep women away from it, both in urban and rural areas.

Even governments and license authorities repeatedly ask women many questions that question their ability to manage their business. For marketing, women have to be at the mercy of intermediaries who eat up most of their profits. While female entrepreneurs are serious about maintaining quality and time schedules, female entrepreneurs always tend to ask questions about the quality of the products they produce.

Q11) Some problems are being faced by women entrepreneurship. Explain.5

A11) The problems of female entrepreneurs in India are:

i. There is no need for achievement, financial independence and autonomy (suppressed by her own preconceptions about her role in her life).

Ii. No risk-bearing capacity (because there are many dependencies)

Iii. Lack of education (literacy rate is only 18.5)

Iv. Family involvement (unavoidable)

v. Male-dominated society (no equal treatment yet)

Vi. Lack of information and experience

Vii. Liquidity and easy availability of funds (only 11% of total income comes from women) –

1. Loan size is insufficient
2. Lack of experience in developing bunk able projects
3. Margin requirements
4. Collateral claim
5. Time to process a loan
6. Tight repayment schedule
7. Ignorance of banking procedures due to illiteracy
8. Lack of marketing, accounting, and management skills can cause a project to fail, resulting in the inability to pay a loan.

Despite the women's cell, the problem of getting loans and AIDS from banks still remains. Women are facing discrimination. People, including bankers and government officials, find it difficult to take women seriously as entrepreneurs.

Q12) What are the steps taken to help women entrepreneur?   8

A12) Empirical evidence shows that women make significant contributions to the operation of the family business, primarily in the form of unpaid efforts and skills. Their efforts and contributions are always underestimated. Even many of the companies that are defined as being run by women are actually run by that name by the men who manage their operations and decision-making.

The various programs introduced by the government can only succeed if women's independence and liquidity are not denied. A started program, if taken up alone, will either fail or partially succeed. Entrepreneurship basically means managing one's life and activities, and female entrepreneurs need to be given confidence, independence and agility to get out of the paradox.

The following measures are proposed to enable women to seize opportunities and face business challenges.

1. Attitude change:

To promote women's entrepreneurship, traditional attitudes need to be reversed rather than just creating women's jobs. Social change is not an overnight phenomenon. It's a gradual, slow process. Unless attitudes change, subsidies and credit distribution to women will not change much. Various government-initiated programs must exceed incentives and tax exemptions to change social outlook, attitudes, group formation, training, and other support services.

2. Training:

Entrepreneurship training should be provided. This should start at the high school level through well-designed courses to instil self-confidence. As part of the curriculum, you can create a variety of case studies and action games. In addition, you can convey hands-on knowledge of financial management, costing, project reporting, and various legal aspects related to your business.

The curriculum should be designed to provide hands-on experience in assessing the marketability of a product or service. The syllabus should be forced to introduce this subject and should be continuously reviewed based on the feedback received.

3. Improved mobility:

Mobility constraints need to be lifted as it contributes to an incredible increase in confidence levels. Girls should be forced to learn cycling, play games, participate in extracurricular activities and youth festivals, and be trained to learn self-defence (such as karate).

4. Start a professional job:

Unless women get into an independent profession, the efforts made by the government to train and increase the mobility of girls will prove to be in vain. The family usually provides financial and emotional support to the son, but not to her daughter.

Parents and daughters must work together to be confident that the skills they have acquired in school and at the technical college can provide them with a beneficial profession. Therefore, women's associations need to introduce an additional year of training to encourage women to work in training and production workshops where produce is sold and earned. Training programs are always seen and entrepreneurship needs to be disseminated among women.

5. Self-awareness and decision-making body:

Programs initiated for women can be abused by people who are not eligible for benefits. These individuals can abuse the program by using truly valuable beneficiaries, women, as the front lines of personal interest. This practice can only be suppressed if a female beneficiary, whether or not it operates in her own name, is urged to claim greater decision-making power in her family business.

This comes only from the greater experience and motivation caused by more knowledge and experience of engaging with the outside world, and by travelling with other successful female entrepreneurs.

A woman must be separated from her normal restricted environment and should be taught to recognize her own psychological needs and express her needs. A woman needs to be motivated to be actively involved in a business that runs under her name, but must be actively promoted by a man in her family. They should not be contested simply by lending their name in business and putting their signature on as needed.

6. Provision of amenities:

The infrastructure for establishing an industry is provided in the form of industrial parcels and huts. Apart from preferentially allocating units to female entrepreneurs, it is desirable to provide the amenities that female entrepreneurs specifically need in industrial areas.

The following amenities can be arranged.

(I) Easy to move and close to home.

(II) Childcare facilities.

(III) Regular bus service in the industrial area.

(IV) Creaches for children.

(V) Priority is given to huts.

Whenever a hut or land is preferentially or concussively allocated to women, the scope of misuse is higher than for other disadvantaged groups. Therefore, the review board should take precautions to assess whether the beneficiary is actually fully responsible for the company, especially when assigned to a popular area. Rather, as a prerequisite for such preferential allocation, it is necessary to insist on training to operate the company from a quality-approved institution.

The same conditions apply when expanding special investment subsidies and other facilities for women.

7. Acquisition of marketing skills:

Women generally prefer to undertake projects that guarantee near-full marketing support. Women are not confident in finding and developing markets and usually lack time due to family obligations. Often they rely on family men for marketing. Marketing requires agility and confidence in responding to the outside world, and women are discouraged by both requirements.

As a cure for this disease, a long-term strategy should be to teach female entrepreneurs marketing skills. Women have (i) market research to select products, (ii) training and advice to bring companies to market, and (iii) specialized marketing expertise to identify marketing channels. Must be provided. For products made by female entrepreneurs, and (iv) industrial parks can also provide a marketing exit for the display and sale of products made by women.

A guidance cell for female entrepreneurs has been set up by Karnataka State Financial Corporation (KSFC) to handle various issues of female entrepreneurs. This experiment has helped women become accustomed to the outside world and has supported women's projects. Similar cells can be set up through the District Industrial Center (DIC) and single window agencies.

8. Causes of stagnant growth:

Female entrepreneurs usually suffer from stagnant corporate growth. Stagnation can be caused by a variety of reasons, including household responsibilities, lack of mobility, fear of business and staff expansion, lack of self-confidence, fear of success, family resentment and hostility. In addition, lack of management and technical skills also acts as a barrier to women's business growth.

Female entrepreneurs also need to understand the need for constant training, development and counselling to address the progress being made in their respective companies. Female entrepreneurs can be counselled through NGOs, psychologist behavioural professionals, management professionals and technicians to enable them to adopt the right strategies for full growth.

Q13) Write the importance of women entrepreneurship.    5

A13) In this dynamic world, women entrepreneurs are a significant part of the global expedition for sustained economic development and social progress. Due to the growing industrialization, urbanization, social legislation and along with the spread of higher education and awareness, the emergence of Women owned businesses are highly increasing in the economies of almost all countries.

In former days, for Women there were 3 Ks- Kitchen, Kids, Knitting, then came 3 Ps- Powder, Pap pad, Pickles and now at present there are 4 Es- Electricity, Electronics, Energy, Engineering. Indian women had undergone a long way and are becoming increasingly visible and successful in all spheres and have shifted from kitchen to higher level of professional activities.

Women entrepreneurs are fast becoming a force to reckon with in the business world and are not only involved in business for survival but to satisfy their inner urge of creativity and to prove their capabilities. Educated Women is contributing to a great extent to the social transformation and in the future, will be seen that more women venturing into areas traditionally dominated by men.

Today’s women are taking more and more professional and technical degrees to cope up with market need and are flourishing as de signers, interior decorators, exporters, publishers, garment manufacturers and still exploring new avenues of economic participation. It is perhaps for these reasons that Government Bodies, NGO’s, Social Scientists, Researchers and International Agencies have started showing interest in the issues related to entrepreneurship among women in India.

1. Women entrepreneurs;

2. Explore the prospects of starting a new enterprise;

3. Undertake risks, introduction of new innovations;

4. Coordinate administration & control of business;

5. Providing effective leadership in all aspects of business; and

6. Have proved their footage in the male dominated business arena. Concept of “Women” as an entrepreneur in India.

Entrepreneurship has gained currency across the sphere and female- entrepreneurship has become an important module. India is one of the fastest emerging economies and the importance of entrepreneurship is realized across the gamut.

Q14) What are the factors that influence woman to become an Entrepreneur?                                                                                                                                                                        5

A14) There are different factors influencing woman to become an entrepreneur. Such factors can be divided into two – (1) the push and (2) the pull factors. The push factor is allied with negative environment and the pull factor is attributed to the push factor may result from low income, low job satisfaction or lack of job opportunities and strict working hours.

The pull factor, however, may result from the need of fulfilling the desire to help others and self-accomplishment. Dhaliwal (1998) found the push factor to be evident in the developing countries. Empirical evidence on the push and pull factors revealed that women entrepreneurs in the developed countries were influenced by the need for achievement, while women entrepreneurs in the developing countries were influenced by a combination of push and pull factors.

Women are influenced by socio-cultural complexities to become an entrepreneur in developing countries. Because of such complexities in the factors influencing women entrepreneurship development in developing countries, many international organizations adopted strategies to overcome such complexities.

A study conducted by International Labour Organization (ILO) (2006) has found four personal and four external factors that influence women entrepreneurs’ success.

Personal factors comprise – (1) motivation and commitment; (2) abilities and skills; (3) ideas and markets; and (4) resources.

While external factors consist of – (1) business development organizations; (2) broader enabling environment; (3) economic/market environment; and (4) socio-cultural context.

The business development organizations factor considers the roles of government, NGOs, private sector, membership organizations and donors.

The broader enabling environment factor mulls over regulations, policies, institutions and processes.

The economic/market environment factor ponders opportunities and threats (e.g., inflation, interest rates, economic trends etc.).

The socio-cultural context factor considers attitudes, aspirations, confidence etc.

Ulrich (2006) has examined five factors and found that all of them influence youth entrepreneurship development. The five factors include – (1) entrepreneurship education and training, (2) socio-cultural, legitimacy and acceptance, (3) access to finance, (4) business assistance and support and (5) administrative and regulatory framework.