What is Entrepreneurship?
- Entrepreneurship has a great potential in the business settings. The power of entrepreneurial mindset should not be underestimated, it actually carries a great potential to reach the top notch approach.
- Entrepreneurship is a full time job which requires dedication, consistency, hard work, self motivation, willingness to go to great lengths in order to achieve the set benchmarks.
- Entrepreneurs are known to be the innovators, they are creative and with their entrepreneurial mindset, innovate products which create value to the end consumers.
- The core value proposition of entrepreneurship is to analyse a given market and try to fill up the gaps by introducing products which help consumers to solve their day to day problems.
- Entrepreneurs are owners, producers, market creators, decision takers, they have the ability of taking up calculated risks, also referred to as the fourth factor of production along with other factors such as, land labour and capital. They are an important component within the ecosystem.
- Entrepreneurs play a considerable part in generating employment opportunities so they are also said to be the backbone of the Nation’s economic progress. Hence, they play an important role in the development of the country at large.
- The word entrepreneur comes from the French word “entreprendre” which means to undertake.
- An entrepreneur is a person who starts a business and is willing to risk loss in order to make money. Entrepreneurship means the willingness of an individual to start a new business venture by taking up risks and managing it in this technology enabled competitive global environment.
- Entrepreneurs are known for their great innovative methods, pioneering with a descriptive product or technology and their constant research in order to better their services and creating value to its end consumers.
- The size of the business, the type of the work, the age or formal education of the individual does not restric the entry of the entrepreneur. Entrepreneurs are people who are great leaders who have the courage to offer and share an idea or product with the world creating value to the consumers by solving a problem or filling gaps. They try to make market a better place where the needs of the consumers are satisfied by hyperscaling the various business activities and trying to gain a profit margin in between.
Howard Stevenson, a long time professor at Harvard business school, defines, "Entrepreneurship is the pursuit of opportunity beyond resources controlled."
Webster dictionary defines, "The definition and entrepreneur is a person who starts a business and is willing to risk loss in order to make money."
The Oxford English dictionary defines, "An entrepreneur is a person who organises and operates a business or businesses, taking on greater than normal financial risks in order to do so."
CASE STUDY: ENTREPRENEURSHIP
For example, In today’s technology era there are various E-Commerce/ Quick commerce platforms which help consumers get their groceries/ goods delivered within 10 minutes at their door steps. This model is indeed very helpful and requires a great dedication from the promoters point of you in order to get to the position in which they stand today.
Building the model is not a matter of a single day, it requires a lot of dedication, focus, research and development, making supply chain analysis, partnering with the delivery agents and with various joints from time to time, simultaneously, having top level executional practices, which inturn, has helped the business venture to make 10 minute delivery possible. This indeed is an inspirational move, the entrepreneurial mindset plays a potentially great role and helps one to reach great heights.
Building an efficient, successful, high end business model which makes deliveries possible in the span of 10 minutes is no joke, it requires a lot of strategic management, excellence execution, hyperscaling of responsibilities, partnering with various third parties and delivery partners and at the same time making sure that all these factors are coordinating well. It is a massive structural framework which needs proper execution methods in place in order to maintain the standards.
Characteristics Of An Entrepreneur:
Self Motivation:
An entrepreneur is a person who is a highly self motivated individual he or she has a creative mindset and a strategic framework or plan of action in place in order to get to a point. Entrepreneur is someone who has that immense dedication, consistency, work ethic, excellence execution system, strategic management in place and strives to achieve the end potential.
Unshakeable Confidence:
Entrepreneurs are innovators with a creative mindset and exude great confidence. The leadership personality and a clear mindset help them to navigate through the various challenges they face on a day today basis. They have immense confidence in themselves, they know their true potential and are confident enough to take big steps ahead and manage various responsibilities in an effective and efficient manner.
Optimistic Approach:
Entrepreneurs are some how programmed in a way that they approach situations with atmost positivity, and have the ability to turn a negative/critical situation into a favourable. They are always hopeful and confident about the market situations, such positive attitude helps them to run the business efficiently, smoothly and achieve great success in the future.
Great Risk Takers:
Entrepreneurs are known for their strategic risk management, they take up calculated risks, are ready to face and tackle challenges while mitigating those with various financial products like insurance, hedging and managing everything strategically and efficiently.
Visionary:
Visionary is someone who has a bigger picture of his or her business enterprise. This person knows and has a crystal clear strategic plan of action so as to where to take the business venture in the coming future. He or she has a great foresight about the future market situations. Has a great knowledge about the internal business and the external business. Having great information helps entrepreneurs to take proper decisions according to the situations.
Hard Work:
An entrepreneur is ready to work hard and go great lengths to reach or attain the business goals. Many a times he or she has to handle the main areas of business independently. He/ she is someone who is greatly skilled to manage each and every activity with the full clarity.
Technically Skilled:
An entrepreneur has a good technical knowledge in regards to his or her own business. Has the ability to update themselves with the latest technology about the product, process, technology, the way in which the things are carried out on a day to day basis.
Highly Intelligent:
An entrepreneur has a sharp mind and strategic approach towards things, has a reasonably great intellectual capabilities. He or she is equipped with the ability to analyse various business situations whether critical or favourable. This capability, leadership and great confidence helps the entrepreneur to take great and accurate business decisions.
Qulalities Of A Successful Entrepreneur:
Disciplined:
Discipline is an element which forms the most important and distinguishing/ determining factor in the success and the failure of a business venture. Success demands discipline, entrepreneurs are discilplined with a strong work ethic mindset which helps them to reach the top.
Unshakable Confidence:
Entrepreneurs are innovators with a creative mindset and exude great confidence. The leadership personality and a clear mindset help them to navigate through the various challenges they face on the day to day basis. They have immense confidence in themselves, they know their true potential and are confident enough to take big steps ahead and manage various responsibilities in an effective and efficient manner.
Excellent Comminication:
Entrepreneurs are excellent communicators, they possess the way to positively influence and have a strong impact on others. They have a diplomatic way of managing critical situations. Communication plays a great role in functioning the activities of the business. It helps in effective delegation of the operational responsibilities, taking accurate business decisions by taking into account everyone’s opinions, redressal of grievances and communicating openly with everyone. Effective, efficient, transparent and timely communication helps the company to gain the confidence of its stakeholders.
Agility:
Learning agility is the most important factor which a leader should possess, it is the ability to know what to do when you don’t know what to do. Often such situations take place where one has to think from a neutral perspective and take the best decisions. If you are able to excel in unfamiliar circumstances you might already be learning agility. Favourable situations is something everyone is comfortable with but critical/ unfavourable situations are the ones which make the difference, a powerful, effective, efficient and true leader is able to tackle such experiences with ease taking into consideration the highest good of all.
Learner:
Entrepreneurs are great learners, they are open to learn from everyone. One has to keep learning throughout the life. There is a lesson in each and every situation that you interact with on a day to day basis. Great leaders/ entrepreneurs are really considered to be great learners. Observing and learning from situations help a person to become a good leader.
Observation:
Effective and efficient leaders are great observers, they have a keen command and check of their surroundings. Observation helps them to analyse the internal workforce, management, the external investors and the other stakeholders. With great observation skills they are in the position to take the accurate decisions in the greatest advantage of the organisation as a whole.
Laser Sharp Focus:
Leader/ entrepreneur is someone who has to show the path and create the way towards the attainment of the goal. He/ she needs a lazersharp focus inorder to get to this point. Effective focus leads to incremental growth, the efforts are put into the right places. Being focused helps organsations to achieve excellence execution, exponential growth, productivity, efficiency, improved profitability and a strong reputation/ goodwill.
Courageous:
A leader should be courageous and fearless enough to take control of terrible/critical situations. It can be hard to speak up at work whether you want to voice a new idea, provide feedback to a direct report or flag a concern for someone about something. Rather than avoiding problems having courageous, ambitious leaders to step up and move things towards right direction turns out to be breakthrough element.
Respect:
True leaders/ entrepreneurs are known for their ability to give and take respect. Treating people with respect and integrity is one of the most important things a leader can do. It will minimise stress, tensions, conflicts among people and lead to improved trust and cordial relations. Being respectful is not that difficult, it can just be started with simply being a good listener who truly cares and values the opinions of its members/ employees/ individuals/ stakeholders. Treating each and everyone with respect should be the core element of the value propositions of the company.
Delegation of Responsibilities:
In the business settings there are huge responsibilities in terms of work functioning, variable functioning of various departments, controllership of finance, the record keeping of the same, the cost controls, etc. Here comes the part of deligating those responsibilities effectively, which forms the core value proposition and responsibility of an effective leader. A leader has to delegate the responsibilities in an effective manner to get done the work smoothly, systematically, efficiently and accurately.
Effective Listener:
A leader is someone who is supposed to be good listener. He or she should listen to the grievances/ disputes, if any, of his/ her employees and take actions to make it right. Simply being a good listener solves half of the issues concerning the business operational activities. The workforce feels a sense of support just by taking into account their problems and making a note of it.
Diplomat:
An entrepreneur has to be a diplomat, he/she should be smart enought to tackle critical situations diplomatically. It is a great skill of dealing with people, acting in a way that does not cause offence. Being diplomatic, stresses on the ability to deal with ticklish situations tactfully.
Self Motivated:
An entrepreneur is a person who is a highly self motivated individual, he or she has a creative mindset and a strategic framework or plan of action in place in order to get to a point. Entrepreneur is someone who has that immense dedication, consistency, work ethic, excellence execution system, strategic management in place and strives to achieve the end potential.
Self Starter:
An entrepreneur is someone who takes the lead, he/she shows, creates the path and the workforce follows. They are the ones who take charge of a given situation and proactively start taking efforts towards the accomplishment. Their ambitious and enthusiastic nature motivates and inspires others to strive towards the same and this inturn, helps the company grow stronger not only in terms of work ethic but also creates a team spirit, trust worthy ecosystem, and a cordial environment.
Creative:
Innovation should have a strong support of creativity. Creativity is an element which helps a person to think out of the box and it turns out to be the essential part of entrepreneurship. Having a cretive mindset is the foundation of building great and successful business ventures. Creativity equals to innovation.
Determined:
Entrepreneurs are known for their lasersharp determination towards the attainment of the goals/ objectives of the business organisation. Determination is a key factor which determines the success or failure of the company. A strong determined leader with a sharp, organised, effective and efficient team makes the best combination.
Functions Of An Entrpreneur:
Innovation:
Entrepreneurs are individuals who think out of the box, study/ analyse the market trends and try to read between the lines and strive to fill the gaps or the shortcomings within the ecosystem. They cater and create value for their end consumers. They pioneer the launch of a new trend, work fashion and satisfy the consumers by creating value and bringing excellence execution, hyperscaling, better prices, etc.
Strategic Financial Management:
- Strategic financial management is a process of systematically arranging, planning and regulating an organisation’s financial resources to meet or achieve it’s long term goals and obligations.
- It refers to making strategic choices which will have an effect on the organisation’s overall sustainability and financial position.
- It’s primary goal is to increase the performance and value of the organisation while lowering its financial risks.
- Strategic financial management plays a critical role in the success and sustainability of organisation and integrates the various branches of management like financial planning, budgeting, risk management and investment research.
- Strategic financial management primarily focuses on the management of finances of the organisation with the help of various financial tools and makes strategic decisions in order to achieve those financial objectives.
- Financial management focuses on coordinating various financial choices with the organisation’s strategic objectives and visions.
- As the word strategic financial management in itself means, financial management in a way which is strategically framed and it promotes organisation’s expansion by offering the financial foundation for growth, diversification, mergers and acquisition.
Technology:
Entrepreneurs must be the experts in the area of technology. They must know the know-how and the mechanism in the way the technology works, the way their company makes use of it. They must be well aware of the technological models their businesses can make use of.
Capital Structuring:
Capital structure refers to the optimum mix of debt and equity. This includes deciding the capital structure of the company, including the proportion of debt and equity financing. The capital structure refers to the proportion of the amount of capital put in the equity and debt. It should be optimum as debt makes the company pay in the form of interests and equity segment is ruled by the shareholders for which the dividend is to be paid.
In debt instruments, there’s no dilution of ownership, whereas, by issuing equity capital the ownership of the capital is distributed. So the company has to maintain an optimum balance between the debt and equity, so as to keep the debtors and owners in a maintained proportion.
Risk Analysis:
Risk management plays an integral role in the business setting. Identifying and evaluating various financial risks relating to operational, credit, market risk, etc. The entrepreneur has to use various tools in order to reduce the risk associated and create risk management methods like investment in sound/reliable and creditworthy insurances.
Capital Rationing:
- Capital rationing is one of the tools to manage and mitigate the financial risk associated to a business.
- Capital rationing is a situation, whereby, the funds available for completing a project are limited.
- It is a situation where a constraint or budget ceiling is put in place on to the total size of capital expenditure under the assumption that the availability of financial resources is quite limited.
- It is a financial strategy used by companies or financial institutions or investors to limit the number of projects to be taken up at a time. If there is a pool of available investments which are expected to be profitable, the strategy of capital rationing provides the investors with the most profitable one to choose from.
- Under this circumstance, the decision maker is compelled to reject some of the viable projects having positive net present value because of the shortage of funds.
- It helps in effective allocation of funds available across various investment opportunities, thereby, enhancing the bottom line of the company. The company is forced to deploy the funds in such projects which are considered to be the most profitable and carrying the highest potential in terms of risks and rewards.
- The limited funds are utilised in the best possible or optimum manner by using the profitability index technique.
- The concept of capital rationing is used by many investors and companies to make sure that investments are made only in those projects that offer the highest returns.
- It is analysed that companies which have a capital rationing strategy prevalent within their organisations typically produce a relatively higher return on investment (ROI) which is simply because its their strategy of investing its resources where it identifies the highest profit potential.
- The primary intention of capital rationing is to make sure that a company does not heavily invest into its asset without much risk analysis, and invest the funds in high worthy projects or else a company may go on to witness the returns provided by the investments going on the lower side.
- The typical goal of capital rationing is to direct a company’s limited capital resources to the projects/ ventures that are likely to be the most profitable.
- The bottom line approach of capital rationing is that all investments with high projected returns should be taken up and dealt with.
Effective Decision Making:
Decision making plays an important role in any business organisation. Decisions once taken are sometimes cannot easily br reversed, hence, it becomes atmost important that the decision is taken after analysing and taking into consideration all the possible outcomes inorder to reach a strong conclusion.
Cost Efficiency:
- Cost Accounting is the process of accounting for costs from the point at which the expenditure is incurred or generated to the acertainment of its ultimate relationship with various cost centres and cost units. It is a system of accounting which is concerned with output of costs of doing a certain activity which can be manufacturing or rendering services.
- Cost accounting is associated with determination of costs relating to a particular process, product or activity. It is the way to capture the total production cost of an organisation by taking into consideration the costs associated to each production process.
- The cost accounting is a significant system of ascertainment of costs, developed for management. It helps the internal management to take the best decisions, as the cost accounting provides with enough clarity pertaining to the costs associated to various processes.
- Cost accounting is a formal system of accounting by means of which costs of various products or services, are ascertained and controlled.
- This system of accounting helps to assertain and control the costs.
- It helps to classify the expenses i.e. material, labour, expenses.
- To allocate or charge the direct expenses to specific costs and to apportion common expenses to each product, contract or process on a suitable basis.
- It assists the management to take various business decisions.
- Indicates the management of any inefficiencies like wastage of raw materials, expenses.
- To determine the selling price.
- To advise the management on future policies regarding expansion, growth, capital Investments.
- Cost accounting helps in effective cost control.
- The figures of actual performance are compared with the targets to find out variation.
- Efficient allocation and apportionment of costs help the business organisation to make optimum utilisation of available resources. It inturn leads to better profitabilty and optimum capital usuage.
Effective Tax Planning:
Formulating effective tax plans to reduce the business organisation’s tax obligations while guaranteeing adherence to tax rules and regulations. Tax planning refers to the reduction in the amount of net tax liability of the assesse by making use of the exemptions and deductions as prescribed by Government and the Tax regulatory authorities. It is the legal reduction in the tax payable while adhering to the tax rules.
Financial Compliance:
- Accounting standards provide the framework and norms to be followed in accounting, so that, the financial statements of different enterprises become comparable.
- Accounting standards are written policy documents issued by expert accounting body or by government or other regulatory authorities covering the aspects of recognition, measurement, treatment, presentation and disclosure of accounting transactions in the financial statement.
- Accounting standards ensure the consistency and comparability of the financial statements presented by different enterprises creating a general sense of confidence that users have in the fairness and reliability of the statements they rely upon.
Preparing various financial statements in a timely and correct manner is very important in terms of its compliance. Adhering to regulatory reporting standards, the various accounting standards issued, inturn, help to create Goodwill.
Cash Management:
Cash management refers to the management of the cash inflows and outflows of the financial resources. It needs to be effectively monitored and controlled to meet its operational and financial commitments. Cash is the primary element of the business, it’s functionality depends upon its cash reserves, therefore, this resource needs to be utilised in an optimum manner and needs to be kept a thorough check on its inflows and out flows.
Improving:
An entrepreuner always strives to improve, be open to feedback for the stakeholders. There is always room for improvement in every activity or process. Trying to improve and making changes for the better from time to time helps the entrepreneur to make the procedures take place with ease and efficiency.
Excellence Execution:
Excellence execution is the determining factor for the business organisation. For any business to reach its highest potential there needs to be a excellence execution process in place. Execution refers to the actual actions undertaken by the business to reach the top level. It needs to be done in a predefined duration with consistency and determination.
Development Of Market:
As entrepreneurs are the innovators within the economy, they take the lead and initiate the launch of new products and services. They inturn, help in the development of the nation’s economy and the market. Entrepreneurs are considered to be the fourth factor of production and are an important component within the ecosystem.
Plan Of Action:
Plan of action refers to the strategic road map/ blueprint which contains the ways or methods to apply inorder to reach and attain the top level goals. Having a plan of action helps to better achieve the target and move with a strategy.
Strong Vision And Mission:
Vision and mission refers to the place where the organisation sees itself in the near future and the long term. The vision and mission of the company defines its purpose and the motive it was established for.
Leadership:
- Effective leadership in the business settings plays an integral role in the success and reputation of the business in the long run.
- Leaders are the ones who show and create the path for the members, they are the ones who create the strong work ethic with the set of goals to achieve and delegative the work and responsibilities accordingly.
- Leadership is a skill which helps people channelise the actions through someone towards the right direction. Effective leadership and motivational strategies can provide individuals with the range of insights that are applied in various personal and professional settings.
- Leadership proves to be a powerful tool in Management and organisational behaviour, it helps in influencing individuals to achieve organisational goals and maximize the performance and profitability in the long run.
What is Entrepreneurship Development?
Entrepreneurship is a meaningful and purposeful activity of an individual or group of associated individuals undertaken to initiate, maintain and improve profitability by production and distribution of economic goods and services.
Entrepreneurs undertake entrepreneurship, it is a procedure of setting up a business venture. It is a process where one decides to build a business by finding the market options and mobilising the available resources.
They analyse a given market and try to fill those gaps or makeup the deficiencies in the market by satisfying consumer wants, creating value and make significant profits.
Characteristics of Entrepreneurship:
Innovation:
Innovation is the base of entrepreneurship. The introduction of new combination of various factors of production is innovation. Entrepreneurs are individuals who think out of the box, analyse the market trends and try to read between the lines and strive to fill the gaps or the shortcomings within the ecosystem. They cater to and create value for their end consumers. They pioneer the launch of a new trend, work fashion and satisfy the consumers by creating value and bringing excellence execution, hyperscaling, better prices, etc.
Economic Activity:
Entrepreneurship is a business activity which is primarily undertaken with the motive of earning profits by creating value to the end consumers. An entrepreneur produces a new product for the consumers as per their needs. He or she feels the need to satisfy human wants and create value as well in exchange of profits. Entrepreneurship is a strategically managed activity which requires a combination of various processes like excellence execution, supply chain management, hyperscaling of various responsibilities, partnering with various business partners, maintaining and executing these processes efficiently while, simultaneously, meeting the needs and demands of the consumers.
Strategic Management:
Creating a successful and valuable business requires a great effort from the entrepreneur’s point of you. It is an activity where various factors of production have to be organised in order to get to the point of the end potential. The organisation’s workforce, supply chain management, monitoring the execution systems, the loopholes, maintaing robust safety and security systems are to be taken into consideration by the entrepreneur on a timely basis. There needs to be a thorough check on each and every activity involved right from the production to the consumption stage.
Creativity:
Innovation should have a strong support of creativity. Creativity is an element which helps a person to think out of the box and it turns out to be the essential part of entrepreneurship. Having a creative mindset is the foundation of building great and successful business ventures. Creativity equals to innovation.
Leadership:
- Building a business is all about being able to manage the workforce. A person who wants to be a successful entrepreneur should have more passion of doing something that just maximising the profits. Effective leadership qualities and great managerial capabilities are the most important facets of running a strong profitable business venture. An entrepreneur must have the ability to lead and manage.
- Effective leadership in the business settings plays an integral role in the success and reputation of the business in the long run.
- Leaders are the ones who show and create the path for the members, they are the ones who create the strong work ethic with the set of goals to achieve and delegative the work and responsibilities accordingly.
- Leadership is a skill which helps people channelise the actions through someone towards the right direction. Effective leadership and motivational strategies can provide individuals with the range of insights that are applied in various personal and professional settings.
- Leadership proves to be a powerful tool in Management and organisational behaviour, it helps in influencing individuals to achieve organisational goals and maximize the performance and profitability in the long run.
Workforce:
The workforce of the organisation is the foundation of the business venture. Although an entrepreneur is wise enough to handle and check each and every procedure involved within the business, he or she is not in the position to execute all these activities simultaneously. There needs to be experts at every stage and level of the business, each vertical of the business should be managed by the person assigned. Sound and efficient work force takes the organisation to the next level and is considered to be the asset of the firm. The business organisation must make sure that it has the best team for each department with the top level executives who are experienced enough to take the best economic decisions, this will help the company to grow exponentially in the long run.
Risk Analysis:
Entrepreneurs are known for their courageous risk bearing capabilities. Risk is a factor which every business comes with, and efficient entrepreneur will try to take up calculated risks. Risk management plays an integral role in the business settings. Identification and evaluation of various financial risks relating to operational, credit, market risk, etc. The entrepreneur has to use various tools in order to reduce the risk associated and create risk management methods like investment in sound/reliable and creditworthy insurances.
Gap Filling Function:
Entrepreneurship is a kind of business venture which arises when gap exists within the ecosystem. Entrepreneurs try to fill in those gaps by creating innovation and satisfy the customers and in between they earn great profit margins.
Process of Entrepreneurship Development:
Entrepreneurs sometimes undergo through a process of training which helps them strengthen their entrepreneurial motive and acquiring skills and capabilities necessary for playing the entrepreneurship role efficiently.
Training:
- Training is the systematic process of implementing the required knowledge which is necessary for an entrepreneur to become a skilled person in handling the day to day tasks and lead the business in a successful and efficient manner. Training is a scheme of instructions which is planned, systematic, consistent, pervasive and monitored to measure its effectiveness. It is an important input of managerial development.
- Training is something which helps to broaden the vision of entrepreneurs by providing them with suitable opportunities for an interchange of experience within and outside an industry. It helps them to build the necessary skills which are required for them to execute the tasks and tackle the challenges smoothly.
- It imparts the knowledge of marketing of goods, production methods, consumer education, the way to deal with investors, appropriate methods of fund raising, interacting with third parties, partnering with business partners or various NBFCs (Non Banking Financial Institutions), the style of top notch negotiating or how to be a diplomat negotiator, etc.
- With the help of efficient training methods there can be minimization of excessive scraps, wastage, defective outputs regarding the production process. To gain an overview regarding the recruitment and retention of sound and efficient workforce, the type of employees they are searching for, training and retention of the same. Training helps in improving the overall efficiency of an entrepreneur, it helps them to accept new technology, builds team spirit, standardisation of various processes, hyperscaling, effective delegation of responsibilities, minimising industrial accidents.
Entrepreneurship Development Programme EDP:
- Entrepreneurship Development program (EDP) as the term suggests is a systematic program designed to help a person in strengthening his or her entrepreneurial motive and in acquiring skills and capabilities necessary for playing his or her entrepreneurial role efficiently with a top level approach.
- It is defined as ‘a programme designed to help a person in strengthening his/ her entrepreneurial motive and in acquiring skills and capabilities necessary for executing the entrepreneurial role efficiently.’
- It is a tool through which potential entrepreneurs are identified, motivated to undertake new ventures and given professional training to manage the unit.
- Entrepreneurship Development program (EDP) was first introduced in Gujarat in 1970 and was sponsored by the Gujarat Industrial Investment Corporation.
The EDP includes the following steps:
- Arrangement of Infrastructure
- Selection of potential entrepreneur
- Imparting the required training
- Selecting the training personnel
- Selection of a specific method of training
- Excellence execution and follow up
Objectives of EDP:
- To foster the entrepreneurial growth within the ecosystem.
- To help entrepreneurs to handle and tackle critical situations by imparting necessary training programs.
- To promote optimum utilisation of available resources.
- To focus on the growth and development of backward regions, improving economic status and promote betterment.
- Entrepreneurs are the job creators, entrepreneurship leads to generation of huge employment opportunities in the work ecosystem. Success of entrepreneurship leads to exponential growth of the economy.
