The document outlines a proposed scheme by the Ministry of Skill Development and Entrepreneurship to promote entrepreneurship in India. The key aspects of the scheme include educating potential entrepreneurs through online courses and integrating entrepreneurship education into college curriculums. It aims to connect entrepreneurs through an online platform to access mentors, incubators and government services. The scheme plans to establish entrepreneurship hubs across India to deliver support services. It also focuses on promoting entrepreneurship among women, underrepresented groups and social entrepreneurship.
According to Kindleberger, An economic theory is a statement of the relationship among economic variables. It is a simplified representation of a real situation. Economic theories are broadly divided into two groups- Micro and Macro economic theories. A micro economic theory explains the relationship between two individual variables. A macro economic theory expresses the relationship between two aggregate variables.
PPT describes Economic theory and its special features
Major Sciences Theories and Its Importance in Examining Socio-Cultural , Econ...Eniamrach2492
油
Marxism is a social, political, and economic ideology that explores how capitalism influences labor, production, and economic growth. It promotes replacing capitalism with communism through workers' movements. Marxism believes that the economic system determines the structure of society.
The document discusses the characteristics and backgrounds of entrepreneurs. It finds that while there is no single entrepreneurial profile, some common traits exist. Entrepreneurs often have self-employed parents and experience in business or management. They are typically between 30-50 years old and well-educated. Entrepreneurs desire independence and confidence, and are motivated by achievement, opportunity, and flexibility more than just money. Their work history and experiences provide skills valuable for starting and running a business.
The activity of seeking wealth is as old as Human
Civilization. Human beings either as individuals or as groups
or as large kingdoms and empires have always been engaged
in acquiring and increasing the material wealth.
However, a discipline study of the wealth producing
activities was commenced about 230 years back when Adam
Smith, the father of Economics, published The Nature and
Causes of Wealth of Nations. Economics, as a discipline,
constitute the most important subject to analyze activities
related to wealth creation and distribution. The dimensions of
the subject of Economics are truly vast and encompasses all
aspects of our lives.
The document defines entrepreneurship and discusses its importance. It provides several definitions of entrepreneurship from early economists like Cantillon, Marshall, and Schumpeter. Entrepreneurship is described as a dynamic process of creating value by recognizing opportunities and mobilizing resources to introduce new products or processes. The document compares small businesses to entrepreneurial ventures and outlines the importance of entrepreneurship in driving economic development, mobilizing resources, fostering innovation, generating employment, promoting equitable distribution of income, and developing backward regions through case studies of large Indian companies.
Chapter 1 the role of business in economic setting ghazdan
油
This document provides an overview of business and economic systems. It defines business as an organization that produces goods and services to earn a profit by satisfying consumer needs and wants. The key activities of business are to produce goods and services, seek profit, and satisfy consumers. An economic system is the method a society uses to allocate its resources and needs. The main economic systems discussed are capitalism, communism, socialism, and mixed economies.
3. Disciplines and Ideas in the Social DLP2.docxErinRoelle
油
The document is a daily lesson log for a Grade 12 DISS (Disciplines and Ideas in the Social Sciences) class. It outlines four class periods covering topics on defining social sciences, distinguishing between social sciences and other fields, and introducing key social science disciplines including anthropology, economics, geography, and history. Learning activities include group discussions, presentations, worksheets, and games to help students understand and compare the different social science disciplines.
This document provides an introduction to entrepreneurship, including definitions and concepts. It discusses key topics such as:
- The definition of an entrepreneur and entrepreneurship from various perspectives.
- Entrepreneurial traits like innovation, risk-bearing, and passion.
- The differences between entrepreneurs, managers, and intrapreneurs.
- The entrepreneurial decision process and 5 stages: discovery, concept development, resourcing, actualization, and harvesting.
- The role of entrepreneurship in economic development through capital formation, job creation, wealth distribution, and more.
- Ethics and social responsibility for entrepreneurs.
It provides an overview of the major concepts and topics within the field
The document summarizes three main theories of entrepreneurship: psychological, sociological, and economic. The psychological theory views entrepreneurship as a psychological process influenced by factors like personality traits, motivation, and creativity. The sociological theory sees entrepreneurship as shaped by social and cultural elements such as community, values, and status. Finally, the economic theory proposes that entrepreneurial behavior stems from the motivation for economic gains and profit.
Study of油the interface between entrepreneurship and the entrepreneurial environment is essential for successful operation of business firms. This presentation talks about the different environmental factors affecting the growth and survival of an enterprise.
This document discusses the socioeconomic impacts of new products, capital investment, government policies, employment, and international trade on various groups in the Philippines from the 1980s to the 2000s. It outlines how consumers benefit from new offerings, firms can reduce costs or create opportunities, governments rely on tax revenue and cooperation to achieve goals, stable jobs and businesses improve living standards, and good trade policies encourage investment and business confidence. During this period the Philippines pursued various reforms to transform its economy and recover from financial crises while ensuring access to basic services and productive assets for its citizens.
This document discusses the retail industry and organized retailing in India. It defines key terms like retailing, retailer, and organized versus unorganized retail. It notes that organized retail makes up only 2% of the Indian market currently but is growing rapidly. The retail industry is transforming in India as incomes rise, more people live in cities, and consumers aspire to new products and shopping experiences. Future projections estimate organized retail will capture 28% of the Indian market by 2017, representing rapid growth compared to other countries at similar development levels.
The document discusses applied economics and how it can help solve basic economic problems. It identifies the four basic economic problems as: what to produce, how to produce, whom to produce for, and what provisions should be made in production. Applied economics seeks to address the fundamental problem of scarcity by helping societies answer these basic questions around production and allocation of limited resources. It provides strategic solutions like promoting economic growth, reducing wants, and improving resource use to help economies function efficiently despite scarce resources and unlimited wants.
This document outlines the policies and procedures for a retail store. It discusses the job descriptions for store manager and sales staff, as well as the hiring process, orientation, performance measurement, compensation, and grievance policies. Environmental and cost control measures are also summarized, along with details on store design, layout, signage, space management, and ambience.
The document provides an overview of microeconomics and macroeconomics. It discusses key definitions and concepts in economics, including definitions of economics proposed by Adam Smith, Alfred Marshall, Lionel Robbins, and Paul Samuelson. It also summarizes the differences between microeconomics and macroeconomics. Microeconomics examines individual markets, firms, and consumer behavior, while macroeconomics analyzes aggregate economic indicators such as national income and output, inflation, and unemployment.
The main premise of economic problem is that human needs and wants are unlimited but resources are limited in nature. Thus, scarcity of resources which means that in order to produce one good, you have to sacrifice other good.
This document discusses how personal factors influence career choices and contains information about understanding career concepts. It begins with speaker Chef Wenna S. Mayordomo introducing the topic and listing the objectives of explaining career and life goals, identifying personal factors, and using a self-assessment tool. Various myths about career choices are then presented along with facts debunking each myth. These myths include ideas about certain majors being unemployable, selecting careers based only on current popularity, career assessments not being useful, happiness depending on another's career, and more. The document aims to help people make well-informed career decisions.
This document discusses different economic theories including capitalism, socialism, and communism. Capitalism is based on private ownership and free enterprise, while socialism believes wealth should be distributed publicly and communism involves total government control over the economy. Karl Marx proposed communism as a solution to inequality between social classes, believing workers should unite and control the means of production.
This lesson is entended for applied economics 11.
This aims to develop knowledge among learners the topics about Econonics which is very timely and rampant nowadays.
The document discusses various theories of entrepreneurship from sociological, economic, cultural, and psychological perspectives. It summarizes Max Weber's theory of religious beliefs which argues that entrepreneurial spirit is influenced by religious beliefs. It also outlines Everett Hagen's social change theory that entrepreneurial creativity drives social transformation. The document examines Joseph Schumpeter's theory of innovation which defines entrepreneurship as introducing new combinations. It discusses Peter Drucker's view of the entrepreneur as someone who responds to change by exploiting opportunities through innovation and recognizing resources.
Chapter 1 Wealth Creation Management and its Value.pptxAnnaPante1
油
Here are three discussion points based on the document:
1. The document discusses different modes of acquiring wealth throughout history - from land ownership during the Agricultural Age, to industries during the Industrial Age, to technology and information in the current Information and Communication Age. It notes how the concept of wealth has evolved with the times.
2. The document emphasizes that acquiring wealth is a dynamic process that requires entrepreneurial skills like creativity, innovation, and understanding customer needs. True wealth comes from establishing new opportunities and ventures that solve problems. Personal growth is achieved through developing these entrepreneurial qualities.
3. The document compares Chinese and Filipino business perspectives. It notes the Chinese emphasis on simplicity, small businesses, discipline with money, and multi
CHARACTERISTICS, ADVANTAGES AND DISADVANTAGES OF ECONOMIC SYSTEMSDINEO NKAWANE
油
This document defines key economic concepts and compares different economic systems. It begins by defining economics as the study of how scarce resources are used to meet wants and needs. An economic system is defined as how a society addresses basic questions of what, how, and for whom to produce goods and services. The main types of economic systems discussed are traditional, market, command, and mixed. Their key characteristics and advantages/disadvantages are summarized. Traditional systems rely on customs, while command systems involve central government planning and market systems use supply and demand. Mixed systems blend public and private aspects.
This document provides an overview of marketing concepts and orientations. It discusses the production, product, selling, and marketing concepts. The production concept focuses on efficient production and wide distribution. The product concept emphasizes product quality and performance. The selling concept uses aggressive promotion to push products onto customers. The marketing concept emerged in the 1950s and emphasizes satisfying customer needs through coordinated activities. It makes customer satisfaction the primary organizational focus.
1) The document is an introduction to economics that covers topics such as the definition of economics, needs and wants, types of economics (micro and macro), factors of production, the economic problem, utility, and production possibility frontiers.
2) It defines economics as the study of how individuals and societies make choices about scarce resources. It also discusses how people balance needs versus wants.
3) The two main types of economics - microeconomics and macroeconomics - are introduced along with the factors of production needed for an economy.
RESPONSIBILITIES OF ENTREPRENEURS IN THE SOCIETYLourdes Eyo
油
The document outlines the responsibilities and accountabilities of entrepreneurs to various stakeholders including employees, government, creditors, suppliers, customers, society, and the world. It discusses 14 responsibilities to employees such as paying wages and taxes, creating a safe workplace, and respecting human rights. 12 responsibilities to government are also outlined, including observing laws, paying taxes, and avoiding corruption. The responsibilities to other stakeholders like creditors, suppliers, customers, society, and in international trade are similarly defined.
This document outlines a home room guidance program for quarter 1, module 1. The learning objectives are to identify strengths and weaknesses, and exhibit the importance of oneself in five aspects: physical/physiological, psychological, intellectual, spiritual, and social. It discusses valuing oneself through self-esteem and confidence. It also explains the 90/10 principle - that 10% of life is what happens to you, and 90% is how you react. Finally, it covers each of the five aspects of oneself in more detail.
The role of Chartered Accountant in capacity as Virtual Entrepreneur Mentor t...CA. (Dr.) Rajkumar Adukia
油
A chartered accountant in the capacity of a virtual Entrepreneur Mentor can act as a trusted confidante over an extended period of time with an objective to provide advice, counseling from a fresh perspective, collaborate and help you as an entrepreneur stay focused on their long-term goal of making their venture a success.
With the intent of bringing some creative minds, who are transforming the status quo of various sectors, into limelight, Insights Success brings to you, Top Creative Leaders Innovating in Business 2019
3. Disciplines and Ideas in the Social DLP2.docxErinRoelle
油
The document is a daily lesson log for a Grade 12 DISS (Disciplines and Ideas in the Social Sciences) class. It outlines four class periods covering topics on defining social sciences, distinguishing between social sciences and other fields, and introducing key social science disciplines including anthropology, economics, geography, and history. Learning activities include group discussions, presentations, worksheets, and games to help students understand and compare the different social science disciplines.
This document provides an introduction to entrepreneurship, including definitions and concepts. It discusses key topics such as:
- The definition of an entrepreneur and entrepreneurship from various perspectives.
- Entrepreneurial traits like innovation, risk-bearing, and passion.
- The differences between entrepreneurs, managers, and intrapreneurs.
- The entrepreneurial decision process and 5 stages: discovery, concept development, resourcing, actualization, and harvesting.
- The role of entrepreneurship in economic development through capital formation, job creation, wealth distribution, and more.
- Ethics and social responsibility for entrepreneurs.
It provides an overview of the major concepts and topics within the field
The document summarizes three main theories of entrepreneurship: psychological, sociological, and economic. The psychological theory views entrepreneurship as a psychological process influenced by factors like personality traits, motivation, and creativity. The sociological theory sees entrepreneurship as shaped by social and cultural elements such as community, values, and status. Finally, the economic theory proposes that entrepreneurial behavior stems from the motivation for economic gains and profit.
Study of油the interface between entrepreneurship and the entrepreneurial environment is essential for successful operation of business firms. This presentation talks about the different environmental factors affecting the growth and survival of an enterprise.
This document discusses the socioeconomic impacts of new products, capital investment, government policies, employment, and international trade on various groups in the Philippines from the 1980s to the 2000s. It outlines how consumers benefit from new offerings, firms can reduce costs or create opportunities, governments rely on tax revenue and cooperation to achieve goals, stable jobs and businesses improve living standards, and good trade policies encourage investment and business confidence. During this period the Philippines pursued various reforms to transform its economy and recover from financial crises while ensuring access to basic services and productive assets for its citizens.
This document discusses the retail industry and organized retailing in India. It defines key terms like retailing, retailer, and organized versus unorganized retail. It notes that organized retail makes up only 2% of the Indian market currently but is growing rapidly. The retail industry is transforming in India as incomes rise, more people live in cities, and consumers aspire to new products and shopping experiences. Future projections estimate organized retail will capture 28% of the Indian market by 2017, representing rapid growth compared to other countries at similar development levels.
The document discusses applied economics and how it can help solve basic economic problems. It identifies the four basic economic problems as: what to produce, how to produce, whom to produce for, and what provisions should be made in production. Applied economics seeks to address the fundamental problem of scarcity by helping societies answer these basic questions around production and allocation of limited resources. It provides strategic solutions like promoting economic growth, reducing wants, and improving resource use to help economies function efficiently despite scarce resources and unlimited wants.
This document outlines the policies and procedures for a retail store. It discusses the job descriptions for store manager and sales staff, as well as the hiring process, orientation, performance measurement, compensation, and grievance policies. Environmental and cost control measures are also summarized, along with details on store design, layout, signage, space management, and ambience.
The document provides an overview of microeconomics and macroeconomics. It discusses key definitions and concepts in economics, including definitions of economics proposed by Adam Smith, Alfred Marshall, Lionel Robbins, and Paul Samuelson. It also summarizes the differences between microeconomics and macroeconomics. Microeconomics examines individual markets, firms, and consumer behavior, while macroeconomics analyzes aggregate economic indicators such as national income and output, inflation, and unemployment.
The main premise of economic problem is that human needs and wants are unlimited but resources are limited in nature. Thus, scarcity of resources which means that in order to produce one good, you have to sacrifice other good.
This document discusses how personal factors influence career choices and contains information about understanding career concepts. It begins with speaker Chef Wenna S. Mayordomo introducing the topic and listing the objectives of explaining career and life goals, identifying personal factors, and using a self-assessment tool. Various myths about career choices are then presented along with facts debunking each myth. These myths include ideas about certain majors being unemployable, selecting careers based only on current popularity, career assessments not being useful, happiness depending on another's career, and more. The document aims to help people make well-informed career decisions.
This document discusses different economic theories including capitalism, socialism, and communism. Capitalism is based on private ownership and free enterprise, while socialism believes wealth should be distributed publicly and communism involves total government control over the economy. Karl Marx proposed communism as a solution to inequality between social classes, believing workers should unite and control the means of production.
This lesson is entended for applied economics 11.
This aims to develop knowledge among learners the topics about Econonics which is very timely and rampant nowadays.
The document discusses various theories of entrepreneurship from sociological, economic, cultural, and psychological perspectives. It summarizes Max Weber's theory of religious beliefs which argues that entrepreneurial spirit is influenced by religious beliefs. It also outlines Everett Hagen's social change theory that entrepreneurial creativity drives social transformation. The document examines Joseph Schumpeter's theory of innovation which defines entrepreneurship as introducing new combinations. It discusses Peter Drucker's view of the entrepreneur as someone who responds to change by exploiting opportunities through innovation and recognizing resources.
Chapter 1 Wealth Creation Management and its Value.pptxAnnaPante1
油
Here are three discussion points based on the document:
1. The document discusses different modes of acquiring wealth throughout history - from land ownership during the Agricultural Age, to industries during the Industrial Age, to technology and information in the current Information and Communication Age. It notes how the concept of wealth has evolved with the times.
2. The document emphasizes that acquiring wealth is a dynamic process that requires entrepreneurial skills like creativity, innovation, and understanding customer needs. True wealth comes from establishing new opportunities and ventures that solve problems. Personal growth is achieved through developing these entrepreneurial qualities.
3. The document compares Chinese and Filipino business perspectives. It notes the Chinese emphasis on simplicity, small businesses, discipline with money, and multi
CHARACTERISTICS, ADVANTAGES AND DISADVANTAGES OF ECONOMIC SYSTEMSDINEO NKAWANE
油
This document defines key economic concepts and compares different economic systems. It begins by defining economics as the study of how scarce resources are used to meet wants and needs. An economic system is defined as how a society addresses basic questions of what, how, and for whom to produce goods and services. The main types of economic systems discussed are traditional, market, command, and mixed. Their key characteristics and advantages/disadvantages are summarized. Traditional systems rely on customs, while command systems involve central government planning and market systems use supply and demand. Mixed systems blend public and private aspects.
This document provides an overview of marketing concepts and orientations. It discusses the production, product, selling, and marketing concepts. The production concept focuses on efficient production and wide distribution. The product concept emphasizes product quality and performance. The selling concept uses aggressive promotion to push products onto customers. The marketing concept emerged in the 1950s and emphasizes satisfying customer needs through coordinated activities. It makes customer satisfaction the primary organizational focus.
1) The document is an introduction to economics that covers topics such as the definition of economics, needs and wants, types of economics (micro and macro), factors of production, the economic problem, utility, and production possibility frontiers.
2) It defines economics as the study of how individuals and societies make choices about scarce resources. It also discusses how people balance needs versus wants.
3) The two main types of economics - microeconomics and macroeconomics - are introduced along with the factors of production needed for an economy.
RESPONSIBILITIES OF ENTREPRENEURS IN THE SOCIETYLourdes Eyo
油
The document outlines the responsibilities and accountabilities of entrepreneurs to various stakeholders including employees, government, creditors, suppliers, customers, society, and the world. It discusses 14 responsibilities to employees such as paying wages and taxes, creating a safe workplace, and respecting human rights. 12 responsibilities to government are also outlined, including observing laws, paying taxes, and avoiding corruption. The responsibilities to other stakeholders like creditors, suppliers, customers, society, and in international trade are similarly defined.
This document outlines a home room guidance program for quarter 1, module 1. The learning objectives are to identify strengths and weaknesses, and exhibit the importance of oneself in five aspects: physical/physiological, psychological, intellectual, spiritual, and social. It discusses valuing oneself through self-esteem and confidence. It also explains the 90/10 principle - that 10% of life is what happens to you, and 90% is how you react. Finally, it covers each of the five aspects of oneself in more detail.
The role of Chartered Accountant in capacity as Virtual Entrepreneur Mentor t...CA. (Dr.) Rajkumar Adukia
油
A chartered accountant in the capacity of a virtual Entrepreneur Mentor can act as a trusted confidante over an extended period of time with an objective to provide advice, counseling from a fresh perspective, collaborate and help you as an entrepreneur stay focused on their long-term goal of making their venture a success.
With the intent of bringing some creative minds, who are transforming the status quo of various sectors, into limelight, Insights Success brings to you, Top Creative Leaders Innovating in Business 2019
This document provides an overview of entrepreneurship and entrepreneurial development in Bangladesh. It discusses what entrepreneurs are and the key functions they serve. It also outlines some of the common characteristics of successful entrepreneurs, such as taking what they do seriously, managing money wisely, and becoming experts in their field. Additionally, the document discusses the opportunities and challenges facing entrepreneurs in Bangladesh, including a lack of proper financial and training support from the government. It presents entrepreneurship as key to alleviating poverty in Bangladesh and improving the country's economic situation. The presentation concludes by advertising upcoming entrepreneurship events.
The document announces a workshop on entrepreneurship development hosted by Mindkeys in partnership with AIDIA. The workshop will be held on May 29th in Kathmandu and aims to provide participants insights into transforming ideas into businesses. It will include speeches from successful entrepreneurs, activities, discussions, and networking. The objectives are to encourage entrepreneurship and support youth in starting businesses. International experts Christopher Lingle and Francois Driard will speak along with local entrepreneur Ujjwal Chhapagain. The workshop methodology incorporates various sessions and participants must register by May 20th.
The document provides an overview of a book about building a billion dollar business empire. It discusses three pillars of the book: profits are secondary to people; people may leave but processes remain; and wealth creation should be coupled with philanthropy. It outlines 10 major topics that will be covered in the book, including thinking big, developing networks, choosing mentors, personal branding, reinventing yourself, infusing leadership in your team, creating reliable resources, scaling up business, getting listed, and going global. The book aims to provide clarity on various questions about business challenges, transforming ideas into enterprises, growth strategies, and achieving success as a CEO.
Entrepreneurs are made, not born. While some may be born with innate skills, becoming a successful entrepreneur requires acquiring vision, courage, organization, social responsibility and comprehensive strategic management capabilities through training and experience. These qualities are not innate and can be developed. Entrepreneurship is a complex endeavor that requires long-term learning, adaptability to challenges, and strong moral character. Anyone with determination and dedication can become a successful entrepreneur through acquiring the right skills and mindset, not by being born with certain traits.
This document provides guidance on developing an extraordinary organizational culture that avoids employee apathy and maximizes engagement and productivity. It outlines four key steps:
1. Create a culture of success by defining core values and expectations that are consistently communicated. This establishes a common language and roadmap for employees.
2. Define what constitutes a "superstar" employee beyond just doing their job. Organizations now need employees who are passionate, take initiative, and contribute meaningfully.
3. Hire the right people who align with the culture and have the skills, mindset and initiative to be superstars. Prioritize culture fit over just skills or experience.
4. Continuously develop and empower existing employees to reach
This document provides guidance on developing an extraordinary organizational culture that avoids employee apathy and maximizes engagement and productivity. It outlines four key steps:
1. Create a culture of success by defining core cultural values and expectations, clearly communicating them, and holding employees accountable.
2. Define the characteristics of a "superstar" employee for the current environment where employees want growth and impact beyond just receiving a paycheck.
3. Implement practices like onboarding, training, recognition, and feedback that cultivate superstar qualities in all employees.
4. Measure culture and engagement regularly through metrics and make adjustments to continuously strengthen the culture. Developing the right culture is essential to achieving business strategy and success.
Showcasing the enthralling stories of such entrepreneurial leaders who are driving transformation, Insights Success features the starlets of the modern business arena in its latest edition, Entrepreneurs of the Year 2023.
Here are 3 key points from the document:
1. Entrepreneurship can be a lonely journey as entrepreneurs work independently from home and make all decisions alone. Finding an entrepreneurial community provides support to counteract loneliness.
2. Continuous learning of new skills is important for entrepreneurs as the ability to learn quickly from failures and adapt is essential for success against competitors.
3. Location is an important factor for startup success, with considerations including costs, community, infrastructure, and proximity to markets. Entrepreneurs should leverage local advantages while making up for deficiencies elsewhere.
summer internship report (qualities of a financial leader) - CopySandeep Nayak
油
This document discusses the skills and traits needed to become a successful financial market leader. It examines leadership qualities in general as well as those specific to the financial sector. Key points include: general leadership skills involve analytical abilities, convincing capabilities, social/emotional skills, and inspiration. Additionally, professional knowledge of the financial industry is critical for leaders to have vision and gain trust. While management is a profession, universal management across all industries is difficult; sector expertise is important. To be an effective leader, one must have legitimacy recognized by their team through both management and leadership abilities.
Civic entrepreneurs are helping communities cooperate and compete in the information age by forging new connections across different sectors. These entrepreneurs help communities collaborate, organize their economic assets, and build productive relationships to benefit the community. Civic entrepreneurs work tirelessly on important issues and continue working overtime, which is a trait that allows them to provide continuity in their work.
The document provides advice for entrepreneurs considering starting their own business. It outlines several key points: entrepreneurs should build their business around a concept with meaningful value for customers; an important early step is creating a business plan; the focus should be on developing a strong, sustainable business model rather than financial projections; experience working in different organizations is valuable before launching one's own enterprise; entrepreneurs should think big but be realistic about scaling capabilities; and one's ability to scale a business should be limited only by ambition, not access to capital, given today's availability of early funding. The document emphasizes the importance of networking with other entrepreneurs and seeking guidance from those further along in their entrepreneurial journey.
Writing a vision statement for your business is a daunting task. For one thing, it must define your company and, more importantly, its future. For another, you don't want it to be relegated to a forgotten poster hanging in the office lobby. A powerful vision statement stays with you, such as Disney's "to make people happy" or Instagram's "capture and share the world's moments." If you are intentional in your efforts and committed to doing the hard work, you can create a vision statement that encapsulates your organization's core ideals and provides a roadmap to where it wants to go.
What is a vision statement? Similar to a mission statement, a vision statement provides a concrete way for stakeholders, especially employees, to understand the meaning and purpose of your business. However, unlike a mission statement which describes the who, what and why of your business a vision statement describes the desired long-term results of your company's efforts. For example, an early Microsoft vision statement was "a computer on every desk and in every home." "A company vision statement reveals, at the highest levels, what an organization most hopes to be and achieve in the long term," said Katie Trauth Taylor, CEO of writing consultancy Untold Content. "It serves a somewhat lofty purpose to harness all the company's foresight into one impactful statement." Why does this matter? Research shows that employees who find their company's vision meaningful have engagement levels of 68%, which is 18 points above average. More 2 engaged employees are often more productive, and they are more effective corporate ambassadors in the larger community. Given the impact that a vision statement can have on a company's long-term success and even its bottom line, it is worth taking the time to craft a statement that synthesizes your ambition and mobilizes your staff.
Jack Welch believed in leaders who inspire others with a clear vision for improvement. He advocated for managing less through close supervision and empowering employees to make their own decisions. Welch also emphasized the importance of articulating a vision to inspire others, keeping messages and processes simple, and maintaining an informal culture where challenging ideas is encouraged. He saw change as an opportunity and believed the best ideas could come from anywhere.
5 factors that contribute to the success of your businessGeorge S. Ammar
油
The document discusses 5 key factors that contribute to business success:
1. Having an innovative business idea that offers real value to customers.
2. Assembling a talented team that shares your vision.
3. Building a strong professional network for advice and resources.
4. Being willing to work hard in the trenches.
5. Prioritizing sales from the beginning to prove viability and generate revenue.
The document summarizes the story of Sudheer Nair, the founder and CEO of E-resource Infotech. Due to financial difficulties after his father's demise, Sudheer had to drop out of high school at 16 and take on various jobs, including as a cargo worker. Through self-study and learning on the job, he gained expertise in typing and computers. This led to an opportunity in ERP software, where he saw potential and started his own ERP company, E-resource Infotech, in 2006. The company has grown successfully with over 300 clients, 25,000 users, and annual revenues of Rs 8.1 crore. Sudheer credits his success to support from talented people, relentless
The 20 most successful businesswomen to watch 2020Merry D'souza
油
Entrepreneurship Immersion Program Enterprise
3. From the desk of Entrepreneurship Immersion Program Enterprise Chairman
and Managing Director:- I recently went through the lists of student
entrepreneur business plan competition winners over the last few years. The
depressing finding was that very few of these companies seem to have
survived up to today. Why is that? There is nothing wrong with the
competitions themselves, as they are great vehicles to promote
entrepreneurial careers among Indias youngsters. However, too many
competition winners (especially in the tech space) believe that simply
creating a great tech product is enough to create a great company, which
will be snapped up by a tech giant for millions of dollars. Media hype about
4. small companies like WhatsApp and Instagram getting billion dollar
valuations just add fuel to the fire.
The truth is that growing a successful business needs strong strategic and
execution capabilities, which many inexperienced entrepreneurs lack.
The truth is that growing a successful business needs strong strategic and
execution capabilities, which many inexperienced entrepreneurs lack. So
what capabilities does a smart entrepreneur need to build a great
company?
How to build and manage a team: Nobody can build a company by
themselves. You have to know what skills are needed to grow the company,
how to attract talented people with those skills, communicate your vision to
them and give them space to execute on it. You need to inspire your team
while maintaining their respect.
How to understand customer needs: Many entrepreneurs build the solution
first and then look for customers to buy it. It is important that you spend
time with a large number of your target customers face to face to
understand what exactly their problems are and if your solution is the right
one for them. Its better to do this before you spend time or money on
creating your solution. Dont get fooled by stories of Silicon Valley
companies that create new tech product categories. Most of these game
changers require very deep pockets and have a very high failure rate.
How to manage finances: Running out of money to pay salaries is the
number one reason for business closure. You need to learn the techniques
of running a lean start-up while you build revenue and raise external funds.
Have a strong understanding of your companys cash flow and profitability.
How to manage the unexpected: There are many factors outside your control
like the state of the economy, customer sentiments, entry of well-funded
competition, resignation of a key employee, etc. Although you cannot
5. anticipate everything, it is good to do a SWOT analysis to lay out the most
common risks and threats to your company and plan ahead on what you will
do if they occur.
Smart entrepreneurs realize that very few people have all these capabilities
within themselves. That is where they look for other successful
entrepreneurs who can help them build these through a strong mentoring
relationship.
Smart entrepreneurs realize that very few people have all these capabilities
within themselves. That is where they look for other successful
entrepreneurs who can help them build these through a strong mentoring
relationship.
It is not too difficult to find a mentor. Many networks like National
Entrepreneurship Network, The Indus Entrepreneurs and Indian Angel
Network have experienced mentors who are happy to support upcoming
young entrepreneurs to help them grow. You may also find a successful
entrepreneur among your relatives or friends circle that would love to take
you under his or her wing. You can even check online networks
like LinkedIn to identify people who could serve as your mentor.
Once youve found someone who youd like to have as your mentor, the
ideal thing to do is to ask for 30 minutes of his or her time to get their
advice. In my experience, most people never refuse such a request as it
also gives them a chance to learn what new developments are happening in
the entrepreneurs space. If the first meeting works well and there is enough
value generated for both sides, you can always ask for a follow up meeting
the next month. Voila! You now have a mentor.
To be a smart entrepreneur, you need to know what key capabilities you
possess and what capabilities you can build with your mentors support. All
you need to do is ask.
6. Essence of Leadership
The Indispensable Quality of Leadership ----VISION
Robert K Greenleaf in his book The Servant as leader says, Foresight is
the lead that the leader has. Once he loose this lead and events start to
force his hand, he is leader in name only. He is not leading; he is reacting
to immediate events and he probably will not long be a leader. There are
abundant current example of loss of leadership which stem from failure to
forsee what reasonably could have been for-seen, from failure to act on that
knowledge while the leader has freedom to act.
It is observed that all effective leaders have a vision to what they must
accomplish. That vision becomes the energy behind every effort and force
that pushes through all the problems. With vision, the leader is on a mission
and a contagious spirit is felt among the crowd until others begin to rise
alongside the leader. Unity is essential for the dream to be realized. Long
hours of labor are given gladly to accomplish the goal. Individual rights are
set aside because the whole is much more important than the part. Time
flies, morale soars upwards, heroic stories are told, and commitment is the
watchword. Why? Because the leader has a vision.
All that is required to remove the excitement from the above para is one
word vision. Helen Keller was once asked , What would be worse than
being born blind? She replied, To have sight without vision. Sadly, too
many people are placed into leadership position without a vision for the
organization that they will lead. All great leaders posses two things: They
know where they are going ,and they are able to persuade others to follow.
They are like the sign in an optometrists office: if you dont see what you
want ; youve come to the right place.
7. Entrepreneurship Immersion Program Enterprise
Entrepreneurship Immersion Program is a national level program which has
been registered under the desk of prime minister office and got approval
from the Ministry of Skill Development and Entrepreneurship. This program
will give you a global plate-form and global leadership support to become a
global leader and entrepreneur.
Don't stop your effort until your victory makes history.
We inspire our associates to imagine and take a bold reorientation of their
lifes strategy around the new ideal of shared success. We help them chase
their dreams and reposition their mindset to articulate a commitment to
mutual prosperity. We empower them to rededicate themselves to all who
depend on them and everyone they may impact, either directly or indirectly
for mutual benefits and thus creating a win-win situation for all. So
Entrepreneurship Immersion Program will give you a vision to become an
entrepreneur. It provides you a kind of support and global plate-form so that
you can achieve your goal within a time period. Entrepreneurship
Experiential Education Program Opportunities for Students What Is
Entrepreneurship? Entrepreneurship is the process of launching, owning, and
8. running a new business venture which begins at a small scale and may
grow into a successful small, medium, or large company. Entrepreneurs
must be willing to take risks and possess the vision to embrace new ideas
or business opportunities that transfer to the marketplace for a profit. To
succeed entrepreneurs must exhibit or develop a variety of skills which
include business know-how, innovation, creativity and good technology skills.
Potential Entrepreneurs may seek career opportunities as the sole proprietor
of a business or may decide to apply their skills in an entrepreneurial
company or family owned business. If you would like to learn first-hand
about the realities of being or becoming an entrepreneur check out Lorain
County Community Colleges (LCCC) Entrepreneurship Experiential Education
Program. Here are some ways you can learn more about the field of
entrepreneurship: Invite an entrepreneur to speak at a special event or club
meeting Shadow an entrepreneur for the day at their place of business
Schedule informational interviews with entrepreneurs so you can gather
career information and learn more about a business enterprise Earn
academic credit for paid co-ops or internships with our resident
entrepreneurs.
Entrepreneurship Immersion Program
will give you a plate-form to become an global entrepreneur. This program
will increase your leadership skill, communicative skill and build up your
confidence so that you can easily become a leader in corporate world. Once
you will be join this program and give your free time to this program then
you will surely be a global entrepreneur in future. Entrepreneurship is the
only path which has the potential to change millions-billions of life around
the world. This program is the part of skill India initiative and
entrepreneurship culture of India. This program will provide you a managerial
skill, strategic management, supply chain management and team building
skill .Life is like a dream ,life is only of those people who believes in the
beauty of dreams. Next 20 year is the golden time for entrepreneurs and
independent business owner. As a student when you will be join this
9. program then you will gain the knowledge of team building ,strategic
management, and essence of leadership.
Vision of Entrepreneurship Immersion Program Enterprise
Youth for Nation Building:- Youth represent the most dynamic segment of
the population and are the future of the Nation. India is one of the youngest
nations in the world. About 65% of Indias population is under 35 years of
age. The focus of the Government is on youth-led development. The Youth
should be active drivers and not merely the passive recipients of
development. Entrepreneurship Immersion Program Enterprise work with the
VISION To empower youth of the country to achieve their full potential, and
through them enable India to find its rightful place in the community of
nations. The Department of Youth Affairs has been implementing various
programs with the objective of developing the personality and leadership
qualities of the youth and inculcating qualities of good citizenship and
volunteerism among the youth. The text of the National Youth Policy.
Job Creation:- The aim of this Group is to suggest policy reforms and
ground level changes that will create more jobs in the country. Our economy
faces a grim challenge due to wide spread unemployment. There is an
urgent need for rapid job creation in multiple sectors across the country.
Join this Group to come up with innovative ideas on job creation. This
Group consists of Tasks and Discussions. Tasks are both online and on-
ground. Discussions enable participants to share their thoughts and ideas.
Practical approach for skill development:- The focus of the Skill
Development Group is to suggest bold ideas, concrete policies, initiatives,
and interventions to help develop employable skills on a mass scale to meet
the needs of the industry and to help youth enter the job market. This
10. Group is an effort to enhance skill development among the youth of India
and give them an opportunity to contribute towards nation building.
The Group consists of Tasks and Discussions. Tasks are both online and
on-ground. Discussions enable participants to share their thoughts and ideas.
National Health Mission:- Ministry of Health and Family Welfare
(MOHFW) invites all interested in health to come and participate in the
Healthy India group. Give suggestions to help us do our job in a better way.
Creative Corner:- This Corner gives you a platform to showcase your
innovative zeal and enables you to leave an imprint on Indias history. Your
skill, your creativity and your ideas become Indias pride!
This corner gives you the opportunity to creatively engage with various
Government departments. From time to time, Ministries will need creative
inputs on the creativity related aspects of their initiatives. The tasks may
vary from proposing a design for a mobile application to providing a draft
banner/logo as well to suggesting a creative punch line for an initiative. The
scope is extensive, the work intensive and the end result extremely
satisfying.
Empowerment of Farmers:- Farmer empowerment means providing with
the ability and capacity to use local and international skills and knowledge to
ensure a fair social and economical situation while preserving and
conserving the environment. In this process, the farmer is becoming a supply
chain actor, a crop specialist with clear market orientation. The farmers are
informed and taught all the best practices to create sustainable production,
and to increase the quality of their livelihood. This enables the production of
a better crop of a higher and more consistent quality and quantity, which is
better suited to satisfy the needs of the buyers while asking for a fair price
without damaging the environment.
11. Entrepreneurship Immersion Program Enterprise is a unit of ministry of Skill
Development and Entrepreneurship and has been registered on
Entrepreneurship Business of Nivesh-Mitra Udyog-Bandhu of Uttar-Pradesh
government.
PROPOSED SCHEME ON ENTREPRENEURSHIP
DEVELOPMENT
An entrepreneurship development scheme is currently being developed by
Ministry of Skill Development and Entrepreneurship. The scheme will being
designed around the following major elements:
Educate and equip potential and early stage entrepreneurs across India:
In partnership with experts, a world class entrepreneurship education
curriculum will be developed. This curriculum will be delivered to all aspiring
entrepreneurs at no cost. Leveraging online learning, entrepreneurship
courses can be taken as and when needed by students and business people
alike through Massively Open Online Courses (MOOCs).
In addition, entrepreneurship education will be integrated into the mainstream
curriculum in 3,000 colleges around India. Entrepreneurship education
12. courses will also be delivered in approximately 325 industrial clusters across
the nation. Through 50 nodal Entrepreneurship Hubs (E-Hubs) set up across
all states, existing and potential entrepreneurs will be targeted for
entrepreneurship education modules that suit their need.
Connect entrepreneurs to peers, mentors, incubators:
To support young entrepreneurs, a web and mobile based platform
connecting the entire entrepreneurial ecosystem will be established. Platform
members will access content online, including information on government
services and special packages offered by service providers.
The creation of new incubators will be encouraged and a national network of
incubators and accelerators established to support young entrepreneurs. A
national network of high quality, screened mentors will also be created,
leveraging existing networks and successful local entrepreneurs where
possible.
Entrepreneurship activities in innovative and cutting edge technology areas
will be aligned with initiatives such as Atal Innovation Mission (AIM) and Self
Employment Talent Utilization (SETU).
Support entrepreneurs through Entrepreneurship Hubs (E-
Hubs):
Support to entrepreneurs, including coordinated delivery of national and state
government entrepreneurship programs and access to enabling resources, a
national network of Entrepreneurship Hubs (E-Hubs) will be
established. One national, 30 state, 50 Nodal and 3,000 college based E-
Hubs will be set up to deliver support. These E-Hubs will, collectively, cover
the entire nation.
Catalyze a culture shift to encourage entrepreneurship:
To promote entrepreneurship, state and national level interactions with
stakeholders will be convened. International linkages will be established
through internship opportunities and exchange trips to global
entrepreneurship hubs such as Silicon Valley and Israel. To build awareness,
national brand ambassadors will be created to champion entrepreneurial
13. culture in India. Awards will be instituted for young achievers and a National
Entrepreneurship Day will be celebrated.
Encourage entrepreneurship among underrepresented groups:
Special focus will be given to the inclusion of scheduled castes & scheduled
tribes, minorities, differently able, etc., and regionally under-represented
areas including large part of Eastern and North Eastern India in
entrepreneurship programs. Special efforts will also be made to enrol
incubators and mentors catering to these groups will in the national
entrepreneurial ecosystem.
Promote Entrepreneurship amongst Women:
Focus will also be placed on encouraging women entrepreneurs through
appropriate incentives for women owned businesses under the public
procurement process. It will also be ensured that gender neutral incubation/
accelerator, network of mentors, industry, resource centers and credit
institutes are developed to facilitate Women Entrepreneurs. Priority will be
given for mentorship and support system for women entrepreneurs in
existing business centers and incubators. Steps will also be taken to
assemble gender disaggregated data.
Foster social entrepreneurship and grassroots innovations:
Universities and academic institutions will be encouraged to launch a course
on Social Entrepreneurship, including through online distance education, to
actively promote social entrepreneurship in the country. Additional support,
including through fiscal incentives and incubation, will also be considered.
To foster grass-roots innovation, a focus on innovations in hubs,
collaborations with organizations such as the National Innovation Foundation
and promotion of Intellectual Property Rights will also be encouraged.