Sketching Dreams Of Own Venture.ppt 2

SKETCHING DREAMS OF OWN VENTURE

PLANNING The process of setting goals, developing strategies, and outlining tasks and schedules to accomplish the goals.

Planning Helps in……   

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Dealing with strategy formation Provides direction and purpose Giving an overall picture of the future course of action Anticipating Problems Time management

Areas of Planning    

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Present Status Goal How to attain the goal in the shortest possible time Own strength and weaknesses in terms of the projects Own qualities Resources

DECISION TO BECOME AN ENTREPRENEUR

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REASONS -To be independent -To do something different/unique -To utilize one’s skills -To earn money -To be an achiever -Dissatisfaction with present circumstances

IDENTIFYING AND SELECTING A BUSINESS OPPORTUNITY How to identify and select a project?    

What industry group should select? What is the technology level, high or low? What is the life of the product? Does it have scope for diversification?

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What are the strengths and weaknesses in relation to the product? How profitable is the product? Financial requirement

MAKING A BUSINESS PLAN/PROJECT REPORT

Identification and selection of suitable project, taking in to consideration all relevant factor.

MAJOR DECISIONS INVOLVED IN ENTERPRENEURSHIP

ENTERPRENEUR PERCEPTION OF EXPANDING

NEW PRODUCT

FUND GENERATION

PRODUCT EXPANSION

VARIOUS ACTIVITIES

RESPONSE TO CHANGE

R&D STRAEGIC CHANGES

CHANGE IN PRODUCT

PROCEDURES AND FORMALITIES FOR STARTING NEW VENTURE 

SSI REGISTRATION

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ACQUISTION OF INFRASTRUCTURAL FACILITIES

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POLLUTION CONTROL CLEARANCE

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CONSTITUTION OF BUSINESS

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ARRANGEMENT OF FINANCE