Fire Services departments must take necessary steps to control risks through administrative controls, engineering controls or personal protection controls. Proper training was not given to the fire fighters to handle new technology equipment. Practical implication: This research can be used for analysis of the requirement for effective and efficient Fire Services. It can be used as source of mapping and amalgamating the firefighting resources in terms of man, machine and equipment.
Human Resource Management. Patents are important assets for biotech organizations, not only for protecting inventions but also as assets to raise monies. Deshpande Nishad and Asha Nagendra more.
Asha Nagendra sent by SIU. International HRM. Due Diligence in entrepreneurship could be an approach of an investor to increase its level of control on its entrepreneurs being groomed in education institutes by identifying entrepreneurial skills in students and mentoring them. Due Diligence model helps to build a few innovative companies from student entrepreneurs with reasonable degree of early success and promising future potential and also it exposes students into real entrepreneurship in a competitive do-it-to-learn-it environment.
It is emotionally much harder to restart after a failure because the risks seem clearer. This may be why the energy and enthusiasm of youth are so important in research and in new businesses. While thinking about fear, think of "paranoia" of entrepreneurs with respect to sharing thoughts, ideas and concepts with others. The world's most successful entrepreneurs are all first time entrepreneurs and also the track records of entrepreneurs who have succeeded in their first venture, they typically don't succeed after that so it comes back to whether they have a track record of achievement in their lives, not necessarily in business Avnish Bajaj, All the Angels are very keen to look at the entrepreneur more than the idea, wanting to see the amount of passion, commitment so what's their skin in the game which is an important indicator of commitment R Ramaraj, To be a successful entrepreneur, money is one of the ingredients, but it will not automatically guarantee success.
At that time there were businesses that had tonnes and tonnes of money, but they don't exist today Pradeep Gupta, so funding is not the issue but the idea itself may not develop into anything. The most important part in the entrepreneurial process is the team - the team that can make it happen because all business plans undergo change, all businesses face crisis.
We need to be confident this team has their ears to the ground; they have the passion; they have the staying power to see the finish line Alok Mittal, This is the stage things are more flexible and companies can be formed with better teams pertinent to the requirements of the concept so entrepreneurship education on campus helps in entrepreneur team configuration Manish Kumar, Students have to develop their own set of tools to finally building the end product and this is possible on campus with less risk and more guidance from the experts and investors.
It helps them to think through their product and more than anything else, it reduces dependencies. As corollary, if you have to run for specialist help for your product's core, you may want to think about bringing that specialist onboard Prashant Hebbar, The initiative is to explore how investors can organize the youth to create next generation young companies, in their capacity, can play a role in enabling this and hopefully creating some great companies for itself and the ecosystem to cherish.
The culmination of this quiet but relentless effort is to reduce the risk of failure of new venture, instilling confidence in investors as well as in students who want to pursue entrepreneurship. Followings were the objectives of the study — 1. HRM and Knowledge. Analysis of Level of motivation in Fire Fighters in India. Most medium and large scale organisations spend large amounts of money and reserves on HR software, but Most medium and large scale organisations spend large amounts of money and reserves on HR software, but unfortunately many of them utilise it only for HR administrative purposes rather than for effective and efficient human resource planning true HRP.
Results showed that identification of unfilled job positions accurately is the most frequently accepted HRIS feature. Organisations need to integrate HRIS functions with other business functions. The study revealed that HRIS needs to offer more intelligent capabilities to increase the effectiveness of HR planning.
Analysis of the Inception, Acceptance and Future of E-wallets more. Abstract: Riding on the back of the growth of e-commerce electronic commerce , India is witnessing exponential growth in the area of digital payments in recent times. The increased incidence of online banking and e-commerce has led to The increased incidence of online banking and e-commerce has led to the emergence of the E-wallet.
The E-wallet is a virtual money wallet which facilitates online payments instantly and enables users to make payments for utility bills, book tickets, transfer money and make instant e-payments while shopping, in physical stores or e-stores. In general, as per the Reserve Bank of India RBI , there are three kinds of E-wallets - closed, semi-closed and open that are issued by banks. A closed wallet is one that a company issues to its consumers for its in-house goods and services.
A semi-closed wallet can be used for goods and services, including financial services, at select merchant locations or establishments that have a contract with the issuing company to accept these payment instruments. Closed and Semi-closed wallets do not permit cash withdrawal or redemption by the holder. He identifies potential markets, stimulates demands and generates interest among buyers to purchase a product.
Corporate entrepreneur is a person who demonstrates his innovative skill in organizing and managing a corporate undertaking which is registered under some act that given it a separate legal entity.
Agricultural entrepreneurs are those entrepreneurs who undertake business related to agricultural activities. Like farm equipments, fertilizers and other inputs of agriculture. Afirst-generation entrepreneur is one who starts an industrial unit by means of an innovative skill.
He is essentially an innovator combining different technologies to produce a marketable product or service. A modern entrepreneur is one who undertakes business to satisfy the contemporary demands of the market. They undertake those ventures which suit the current socio-cultural trends. A classical entrepreneur a stereo-type entrepreneur is one whose aim is to maximize the economic returns at a level consistent with the survival of the firm, with or without element of growth.
Innovative entrepreneurs are full of creative ideas and offer innovate products to the society. It is because of these innovative entrepreneurs that many important changes occur in our society. Explain the qualities and functions of the entrepreneurs Ans. Meaning of Entrepreneur : Qualities of An Entrepreneur : 1. Planner : 2. Technician : 3. Risk Bearing Ability : 4. Decision Maker : 5. Ability to Find and Explore Opportunities : 6. Motivator : 7.
Future Oriented : 8. Interpersonal Skills : Imitative entrepreneur adapt a successful innovation. They are risk-aversive and so they do not try out new ideas or products. Drone entrepreneurs are not open to creativity and change. They do not like changing the working of organizations with the changing times. When both husband and wife together start and run a business venture then they are called copreneurs. An Entrepreneur is a person who perceives a need and then brings together manpower, material and capital required to meet that need.
An entrepreneur is a person who takes risk of setting up his own venture for perceived reward. He is a person who initiates the idea, formulates the plan, organizes resources and puts the plan into action to achieve his goals. The entrepreneur must have following qualities:- Entrepreneur has a strong desire to achieve a higher goal and make their dreams come true.
So the entrepreneur must have these quality to achieve the target an entrepreneur cannot achieve the target. An entrepreneur must have the technical knowledge. He should know that how to use the resources and achieve the target. Risk is very important element. An entrepreneur must have capacity to bearing risk an entrepreneur cannot success.
Decision making is the process of choosing best alternative among various alternatives. An entrepreneur must have these qualities because decision making affect the profitability and reputation of the enterprise.
Entrepreneurial persons are quick to see and seize opportunities. They show an innovative turn of mind and convert difficulties into opportunities.
An entrepreneur must have a motivator. He inspires the employees to achieving the target. Without motivation an entrepreneur cannot achieve the target.
So motivation is very necessary for achieving the target. Entrepreneur shows a high level of future orientation. They do not allow the past to obsess them. They are oriented towards present and future. An entrepreneur is a person who during the course of his activities he should be a person who likes working with people and who has skills of dealing with people.
Facing Uncertainty : Coordination : Functions of Entrepreneur : 1. Risk taking and Uncertainty Bearing : 2. Taking Business Decisions : 3. Managerial Functions : 4. Innovation : 5. Coordination : 6. Maintain Good-Relations : 7. Planning : An entrepreneur is a person who faces uncertainty.
The future is uncertain. So the decision of entrepreneur affects the profitability and reputation of the enterprise. An entrepreneur must have a coordinator. He allocates the resources and utilizes the resources for achieving the target. Without coordination an entrepreneur cannot achieve the target. An entrepreneur has to perform the following function: The future is unpredictable. The entrepreneur has to take risks in these circumstances. If the venture succeeds, the entrepreneur profits; if it doe not, losses occur.
Thus, taking risks forms an important entrepreneurial function. All decision concerning business are taken by the entrepreneur. He has to formulate an action plan regarding the product and quality of the product to be produced. He has to evolve the best possible method of production which would earn him a sizeable profit. The entrepreneur performs various managerial functions. The entrepreneur arranges finance, purchase raw materials, provides the necessary infrastructure for production.
The entrepreneur has a multifaced personality when he undertakes managerial functions. The most important function of an entrepreneur is innovation. He introduces far-reaching improvements in the quantity and quality of production line. He considers the economic viability and technical feasibility of an invention.
The entrepreneur coordinates the other factors of production. Coordination involves selection of the right type of factors, employment of each factor in the right quantity, use of the best technical devices, division of labour, reduction of waste etc. An entrepreneur must have good relations with his customer to earn profit and win their confidence in his product.
He must also maintain good relations with his employees. An entrepreneur analysis the environment. Environment are those factor which affect the business. There are two type of environment: Internal environment are controllable External environment are beyond the control of the business. Planning is the first function of the management. Planning is deciding in advance what is to be done, how is to be done, which is to be done, by whom is to be done.
It is very necessary function of entrepreneur. Without planning an entrepreneur cannot achieve the target. Utilizes the Resources : Q. Meaning of Entrepreneur : Role of Entrepreneur in Economic Growth : Importance of Entrepreneur in Economic Development : An entrepreneur allocates the resources and utilizes the resources. An entrepreneur must utilize the resources for the achievement of the objectives. If the entrepreneur doe not utilizes the resources he cannot become a successful entrepreneur.
The position of the entrepreneur in modern production is like that of the director of a play. Modern economic development is closely linked with production. Modern production is higher complex.
The entrepreneur directs production and he must do whatever is necessary for its success. His role in modern economic development has at least three aspects: 1 The entrepreneur co-ordinates the other factors of production. This involves not only assembling the factors, but also to see that the best combination of factors is made available for the production process.
This is the important function of the entrepreneur and the quantum of profit he receives is directly proportionate to the risks he takes. Risks are generally based on the anticipation of demand. Innovation is different from invention. Invention is the work of scientists. Innovation implies the commercial application of an invention.
As an innovator the entrepreneur assumes the role of a pioneer and an industrial leader. The entrepreneur can undertake anyone type of the following five categories of innovation: i The introduction of a new good or a new quality of a good ii The introduction of a new method of production iii The opening of a new market iv The conquest of a new source of supply of raw materials v The carrying out of a new organization of any industry. Every country tries to achieve maximum economic development.
The economic development of a country to a large extent depends on human resources. But human resource alone will not produce economic development-there must be dynamic entrepreneurs.
Importances of entrepreneurs in economic development are: If a hundred persons become entrepreneur they not only create a hundred jobs for themselves but also provide employment to many more. These enterprises grow providing direct and indirect employment to many more. Thus entrepreneurship is the best way to fight the evil of unemployment. The domestic demand increases with ever increasing population and standard of living.
The export demand also increases to meet the needs of growing import due to various reasons. An increasing number of entrepreneurs are required to meet this increasing demand for goods and services. Thus entrepreneurship increases the national income.
When a society produces a small number of entrepreneurs the enterprise due to lack of competition grow into a few big business houses. This results in concentration of wealth in a few families. This can have a serious social and national implication. When the number of entrepreneurs increases, a large amount of national wealth is also shared by a large number of entrepreneurs, thus dispersing wealth.
This dispersal of wealth promotes the real socialism and makes the economy healthy. The growth of industry and business leads to a large number of public benefits like road, transport, health, education, entertainment etc. A rapid development of entrepreneurship ensures a balanced regional development.
When the new entrepreneurs grow at a faster pace, in view of the increasing competition in and around the cities, they are forced to set up their enterprise in the smaller towns away from big cities. This helps in the development of the backward regions. Entrepreneurship is essential for national self-reliance. Businessman export goods and services on a large scale and earn the scarce foreign exchange for the country. Such import substitution and export promotion help to ensure the economic independence of the country.
Many problems associated with youth and social tensions are rightly considered to be due to youth not being engaged in productive work. In the changing environment where we are faced with the problem of recession in wage employment opportunities, alternative to wage career is the only viable option. The country is required to divert the youth with latent entrepreneurial traits from wage career to self employment career.
Such alternate path through entrepreneurship could help the country in defusing social tension and unrest amongst youth. Production of goods on mass scale and manufacture handicrafts etc. These offer goods at lower costs and increase variety in consumption. India is considered to be very rich in natural resources. A few large scale industries started by entrepreneurs from outside the state in economically backward areas may help as models of pioneering efforts, but ultimately the real strength of industrialization in backward areas depends upon the involvement of local entrepreneurship in such activities.
Increased activities of local entrepreneurs will also result in making use of abundantly available local resources. Business enterprises need to be innovative for their survival and better performance. Entrepreneurship development programmes are aimed at accelerating the pace of small firms' growth in India. Increased number of small firms is expected to result in more innovations and make the Indian industry compete in international market.
Explain the Theories ofAn Entrepreneurship. Meaning of Entrepreneurship : Theory of Entrepreneurship : 1 Entrepreneurship : According to Schumpeter Entrepreneurship refers to a process of action an entrepreneur undertakes to establish his enterprise.
Schumpeter , for the first time, put the human agent at the centre of the process of economic development and assigned a critical role to the entrepreneurship in his theory of economic development. He considered economic development as a discrete technological change.
The process of development can be generalized by five different types of events: i Firstly, it can be the outcome of the introduction of a new product in the market.
According to him entrepreneurship means the skill to build an organization. Harbison spots the crux of the entrepreneurship in his ability to multiply himself by effectively delegating responsibilities to others. The main features are: i Unlike Schumpeter, Harbison's entrepreneur is not an innovator but an 'organisation builder' who must be able to harness the new ideas of different innovators to the rest of the organization.
A Function of Managerial Skill and Leadership: Hoselitz states that a person who is to become an industrial entrepreneur must have additional personality traits. In addition to being motivated by the expectations of profit he must also have some managerial abilities and more important he must have ability to lead. Hoselitz maintains that financial skills have only a secondary consideration in entrepreneurship.
According to him managerial skills and leadership are the important facts of entrepreneurship. He identifies three types of business leadership in the analysis of economic development of under-developed countries: The merchant money lender type The managerial type The entrepreneur type. A Function of High Achievement: Mc Clelland states that a business man who simply behaves in traditional ways is not an entrepreneur. Moreover, entrepreneurial role appears to call for decision making under uncertainty.
Mc Clelland identified two characteristics of entrepreneurship firstly "doing things in a new and better way" and secondly "decision making under uncertainty". Persons with high achievement would take moderate risks. They would not behave traditionally no risk. The high achievement is associated with better performance at tasks which require some imagination, mental manipulation or new ways of putting things together, and such people do better at non routine task that require some degree of initiative or even inventiveness.
People with high achievement are not influenced by money reward as compared to people with low achievement. People with low achievement are prepared to work harder for money or such other external incentives. For people with high achievement, profit is a measure of success and competency. A Function of Social, Political and Economic structure: John Kunkel states that the industrial entrepreneurship depends upon four structures which are found within a society or community.
This limitation structure affects all the members of a society. The demand structure is not static, and changes with economic progress and government policies. Demand structure can be improved by providing material rewards.
The opportunity structure constitutes the availability of capital, management and technological skills, information concerning production methods, labours and markets. All the activities associated with the effective planning and successful operation of industrial enterprises.
He states that labours means 'men' and is a function of several variables. The supply of factory labours is governed by available alternative means of livelihood, traditionalism and expectations of life. In economic theory the production function is considered to be well defined and completely known. But the theory is silent about the keeper of the knowledge of production function.
Where and to whom in the firm this knowledge is supposed to be available is never stated. It is the entrepreneurial function to make up the deficiencies or to fill the gaps. These gaps arise because all the inputs in the production function cannot be marketed because some inputs like motivation, leadership etc. This "gap-filling" activity gives rise to a most important entrepreneurial function namely "Input-Completing".
He has to marshal all the inputs to realize final products. Young was reluctant to accept the entrepreneurial characteristics at the individual level. According to him, instead of individual, one must find clusters which may qualify itself as entrepreneurial groups, as the groups with higher differentiation have the capacity to react. He defined 'reactiveness' or 'solidarity' as the degree to which the members of the group create, maintain and project a coherent definition of their situation; and 'differentiation' is defined as the diversity, as opposed to coherence, of the social meanings maintained by the group, when a group has a higher degree of institutional and occupational diversity, relative to its acceptance, it tends to intensify its internal communication which gives rise to a unified definition of the situation.
What are the objectives and Phases of Entrepreneurial Development Programme. Meaning of Entrepreneurial Development Programme EDPs : Objectives or Need of EDPs : A Initial or Pre-Training Phase : Entrepreneurial development programme means a programme designed to help a person in strengthing his entrepreneurial motive and in acquiring skills and capabilities necessary for playing his entrepreneurial role effectively. It is very necessary to promote his understanding to motives, motivation pattern, their impact on behaviour and entrepreneurial value.
Name the most common causes of small business failure. Most alternative fuel vehicles are thought of as being both style and performance challenged. Not the Tesla. The initial model, a two-seater roadster, goes from zero to 60 miles per hour in a screaming 3.
It also sports a very cool carbon-fiber body and will travel over miles between charges. The four-door family-oriented model still goes from zero to 60 in 5. Not bad for a grocery hauler. In addition to Tesla Motors, Musk is chief technology officer for SpaceX, one of the most advanced private companies building rockets for space transportation—ultimately aiming to establish a colony on Mars. The U. Oh, and by the way, Musk is also building professionalism and efficiency into the home solar energy systems with his company SolarCity.
How does a person accomplish so much so young? Musk has always been an entrepreneur. Elon Musk is a shining example of a serial entrepreneur starting business after business who builds innovative businesses which begin small, grow in size and impact, create much-needed jobs, and change the way we live. What Is Small Business? As the driver of the free enterprise system, small business generates a great deal of energy, innovation, and profit for millions of Americans.
While the names of huge Fortune corporations may be household words pumped into our lives via a multitude of media, small businesses have always been a central part of American life. Census data show that 22 percent of those What a great time to be in and be studying small business!
Check out the following facts. Represent more than Employ more than half of all private sector employees? Pay 44 percent of total U.
Created 64 percent of net new jobs over the past 15 years? Represented Produce 13 times more patents per employee than large firms? Create more than 50 percent of private gross domestic product GDP? Hire 40 percent of high-tech workers such as scientists, engineers, and computer programmers? Are 52 percent home based and 2 percent franchises? The Seven million of these business owners employ only themselves—as carpenters, independent sales representatives, freelance writers, and other types of single-person businesses.
Census Bureau tracks firms by number of employees. These data show that approximately 5. Figure 1. First, it is necessary to pay attention to the time frame of entrepreneurship process, i. Because women entrepreneurship process is important especially at the primary and secondary level. Entrepreneur scientists argues that there is need to explicitly link the contents of process programs to the level of education.
They argue that 'awareness' programs can be offered to groups lacking the basic knowledge of women entrepreneurship, whereas 'readiness' programs can be offered to any pupil, including those of a young age, provided they have sufficient awareness. The importance of the entrepreneurial qualities should be further investigated.
Challenges before entrepreneurs: 1. Cultural Values: This is dominant in the Africa setting where the man is believed to be the bread winner of the family, leaving the woman to just domestic chores. If the woman is seen doing some sort of work, she is believed to be taking the position of the head of the family.
This is due to the fact that some of the women may not be fully grounded in their knowledge of the business, therefore having a bad business plan.
It can also be due to the reason that the woman may not have collateral. The way out of this is to try and get a collateral and have a strong business plan that anyone can buy into it. Also, you must be able to sell your idea excellently well and convince your investors and build their confidence in your business idea.
If you raise enough capital from family and friends that will reduce the interest you have to pay. This relationship women build sometimes approve of what others say and get carried away by it, this lead them to wanting to satisfy others at the detriment of their business.
Women should watch out for this and try not to let their emotions overpower their aims and goals for their businesses. Discrimination from the society: Most people still have the mentality that a woman should not be allowed to take some certain business in the society. They believe those business are meant for men and a woman cannot be fully competent in it. But this believe is actually not true, because there women who have even done far better than men in some certain areas.
When you have made your grounds in that business, then the things been said by the society will now turn in favor of the women. Inferior Educational Background: In some part of the world, women are still given the ability to go deep educational and also to get additional skills that will help them in the business world.
It has been known that most women just get basic education which most times is not enough to help them gain any ground in the business world. The best thing for an ambitious woman to do is to try and get skills and be determined to make it in life.
Afraid of Failure: Failure and success are part of life, before a person can be successful; you have to have experienced failure. One has to build confidence and encourage oneself in order to be able to achieve success in any business. Combining Raising a Home and a Business: Having to raise your children and also maintain your business is a very challenging task. As we all know women are the backbone of the home, so you have to find a way to balance up being with your family and also managing your business.
These are the challenges female entrepreneurs face and for those just intending to start or have started their businesses should take note of these challenges and be prepared to face them. Another important aspect mentioned by respondents are associated with the role of middle men and agents. Books : Drucker, P. International journal of research in it, management and engineering Dr.
Amandeep Singh, Manisha Raina , women entrepreneurs in micro, small and medium enterprises. International journal of management and social sciences research Pankaj Chaudhary and Sonia Chawla , Development of women entrepreneurship in India — a case reserch paper of Panipat city.
International journal of business and management research Ayesha Kalim , women entrepreneurship: turning challenges into opportunities.
Arora , reserch paper of financial problems of women entrepreneurs. European academic research Meenu Goyal and Jai Prakash , women entrepreneurship in India-problems and prospects. International journal of multidisciplinary research S.
Vargheese Antony Jesurajan and Dr. Edwin Gnanadha , a reserch paper on the factors motivating women to become Entrepreneurs in Tirunelveli district. Asian journal of business and economics K.
Nalawade and Varsha Yashwant Ingale , rural women entrepreneurs: the factors influencing their entrepreneurship. Tactful management research journal Geetha Sulur Nachimuthu and Barani Gunatharan , empowering women through entrepreneurship: a reserch paper in Tamil Nadu, India. International journal of trade, economics and Finance Jeevan Jyoti and Jyoti Sharma, Anita Kumari , factors affecting orientation and satisfaction of women entrepreneurs in rural India.
Ninth aims international conference on management Jyoti Bahl , status of women entrepreneurship in rural India.
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