First Year : Semester I EDITION : 2015 PRICE : Rs. 210/- · (b) Role of development organizations,...
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Transcript of First Year : Semester I EDITION : 2015 PRICE : Rs. 210/- · (b) Role of development organizations,...
First Year : Semester I
As per New Syllabus
Effective from 2014-15
Dr. U. C. GuptaProfessor, & Head, Commerce
Govt. P.G. College, Shivpuri (M.P.)
and
Satish Kumar SharmaM.A., M.B.A., Dip. in I.R.PM
ceP.M.B. Gujrati Commerce College, Indore
Kailash Pustak Sadan, Bhopal
PUBLISHERS :
Kailash Pustak SadanHamidia Road, Bhopal - 462001Phone : (0755) 4256804, 2535366
EDITION : 2015
PRICE : Rs. 210/-
Laser Typesetting :Trans Laser, Bhopal
PRINTERS :
Well Prints P. Ltd., Bhopal
All Rights Reserved. No Part of this Publication may be reproduced ortransmitted in any form or by any means without prior written permissionof the publishers.
While due care and diligence was taken in editing and printing of thisbook, neither the author nor the publisher nor the printer of this bookholds any responsibility for any mistake that might have inadvertently
crept in.
First Year : Semester I
As per New Syllabus
Effective from 2014-15
Dr. U. C. GuptaProfessor, & Head, Commerce
Govt. P.G. College, Shivpuri (M.P.)
and
Satish Kumar SharmaM.A., M.B.A., Dip. in I.R.PM
ceP.M.B. Gujrati Commerce College, Indore
Kailash Pustak Sadan, Bhopal
PUBLISHERS :
Kailash Pustak SadanHamidia Road, Bhopal - 462001Phone : (0755) 4256804, 2535366
EDITION : 2015
PRICE : Rs. 210/-
Laser Typesetting :Trans Laser, Bhopal
PRINTERS :
Well Prints P. Ltd., Bhopal
All Rights Reserved. No Part of this Publication may be reproduced ortransmitted in any form or by any means without prior written permissionof the publishers.
While due care and diligence was taken in editing and printing of thisbook, neither the author nor the publisher nor the printer of this bookholds any responsibility for any mistake that might have inadvertently
crept in.
Syllabus
UNIT-I Entrepreneurship : Definition, Characteristics and
importance, Types and functions of an Entrepreneur,
Motivational factors of Entrepreneurship.
UNIT-II (a) Motivation to achieve targets and establishment of ideas.
Setting targets and facing challenges. Resolving problems
and creativity.
Sequenced planning and guiding capacity, Development
of self confidence.
(b) Communication skills, Verbal and Non-Verbal
Communication, Capacity of influence, Modern forms
Communication.
UNIT-III (a) Project Report : Evaluation of selected process.
Detailed project report - Preparation of main part of project
report pointing out necessary and viability.
(b) Selecting the form of Organisation - Meaning and
characteristics of sole Proprietorship, Partnership and
cooperative committees, elements affecting selection of
a form of an organisation.
(c) Economic management - Role of banks and financial
institutions, banking, financial plans, working capital-
evaluation and management, Cost and Price
determination, Calculation of Profits, Keeping of accounts.
UNIT-IV (a) Production management - Methods of purchase,
Management of movable assets/goods, Quality
management, Employee management, Packing.
(b) Marketing management, Sales and the art of the selling,
Understanding the market and market policy, Consumer
Management, Time management
UNIT-V (a) Role of regulatory institutions - district industry centre,
pollution control board, food and drug administration,
special study of electricity department and municipal
corporation.
(b) Role of development organizations, Khadi & village
Commission/Board, MP Finance Corporation, scheduled
banks, MP Women's Economic Development
Corporation.
(c) Self-employment-oriented schemes, Prime Minister's
Employment scheme, Golden Jubilee Urban environment
scheme, Rani Durgawati Self-Employment scheme, Pt.
Deendayal Self-employment scheme.
(d) Various grant schemes - Cost-of-Capital grant, interest
grant, exemption from entry tax, project report,
reimbursement grant etc.
(e) Special incentives for women entrepreneurs, prospects
and possibilities.
(f) Schemes of M.P. Tribal Finanace Development
Corporation, schemes of M.P. Antyavasai Corporation,
Schemes of M.P. Backward Class and Minorities Finance
Development Corporation.
Syllabus
UNIT-I Entrepreneurship : Definition, Characteristics and
importance, Types and functions of an Entrepreneur,
Motivational factors of Entrepreneurship.
UNIT-II (a) Motivation to achieve targets and establishment of ideas.
Setting targets and facing challenges. Resolving problems
and creativity.
Sequenced planning and guiding capacity, Development
of self confidence.
(b) Communication skills, Verbal and Non-Verbal
Communication, Capacity of influence, Modern forms
Communication.
UNIT-III (a) Project Report : Evaluation of selected process.
Detailed project report - Preparation of main part of project
report pointing out necessary and viability.
(b) Selecting the form of Organisation - Meaning and
characteristics of sole Proprietorship, Partnership and
cooperative committees, elements affecting selection of
a form of an organisation.
(c) Economic management - Role of banks and financial
institutions, banking, financial plans, working capital-
evaluation and management, Cost and Price
determination, Calculation of Profits, Keeping of accounts.
UNIT-IV (a) Production management - Methods of purchase,
Management of movable assets/goods, Quality
management, Employee management, Packing.
(b) Marketing management, Sales and the art of the selling,
Understanding the market and market policy, Consumer
Management, Time management
UNIT-V (a) Role of regulatory institutions - district industry centre,
pollution control board, food and drug administration,
special study of electricity department and municipal
corporation.
(b) Role of development organizations, Khadi & village
Commission/Board, MP Finance Corporation, scheduled
banks, MP Women's Economic Development
Corporation.
(c) Self-employment-oriented schemes, Prime Minister's
Employment scheme, Golden Jubilee Urban environment
scheme, Rani Durgawati Self-Employment scheme, Pt.
Deendayal Self-employment scheme.
(d) Various grant schemes - Cost-of-Capital grant, interest
grant, exemption from entry tax, project report,
reimbursement grant etc.
(e) Special incentives for women entrepreneurs, prospects
and possibilities.
(f) Schemes of M.P. Tribal Finanace Development
Corporation, schemes of M.P. Antyavasai Corporation,
Schemes of M.P. Backward Class and Minorities Finance
Development Corporation.
Contents
Chapter Page No.
UNIT-I
1. Enterpreneurship .......................................................................... 01(Meaning, Definition, Nature, Type & Importance)
2. Entrepreneur : Meaning, definition, characteristics, types, ....... 21function and importance
3. Main Qualities of a Successful Entrepreneur ............................... 33
4. Enterpreneurial Motivation Factors .............................................. 39
UNIT-II
5. Targets and Business Idea ............................................................ 44
6. Communication Skills .................................................................. 56
7. Verbal & Non-Verbal Communication .......................................... 63
8. Modern Forms of Communication .............................................. 77
UNIT-III
9. Project Appraisal .......................................................................... 83
10. Project Report .............................................................................. 87
11. Detailed Project Report .............................................................. 107
12. Selection of Business organization ..............................................113
13. Sole Trading : Meaning, Definitions, Characteristics ................ 120and Importance
14. Partnership ................................................................................. 127(Meaning, definitions, characteristics and importance)
15. Co-operatives Societies ............................................................. 141
16. Factors Influencing the Choice of Organisation ........................ 153
17. Financial (Economic) Management ........................................... 157
18. Role of Financial Institutions and Banks .................................... 162
19. Working Capital Evaluation and Management ............................ 180
20. Price Determination and Calculation of Profits .......................... 189
21. Financial Accounting .................................................................. 198
UNIT-IV
22. Production Management ............................................................ 207
23. Marketing Management .............................................................. 235
UNIT-V
24. Regulatory Institutions ............................................................... 259
25. Promotional Institutions ............................................................. 280
26. Self Employment Oriented Schemes ......................................... 297
27. Various Subsidies and Schemes .............................................. 316
28. Incentives to Women Enterpreneurs .......................................... 329
29. Women Enterpreneurship : Opportunities and Problems ........... 335
30. Other Schemes of M.P. Government ......................................... 342
Contents
Chapter Page No.
UNIT-I
1. Enterpreneurship .......................................................................... 01(Meaning, Definition, Nature, Type & Importance)
2. Entrepreneur : Meaning, definition, characteristics, types, ....... 21function and importance
3. Main Qualities of a Successful Entrepreneur ............................... 33
4. Enterpreneurial Motivation Factors .............................................. 39
UNIT-II
5. Targets and Business Idea ............................................................ 44
6. Communication Skills .................................................................. 56
7. Verbal & Non-Verbal Communication .......................................... 63
8. Modern Forms of Communication .............................................. 77
UNIT-III
9. Project Appraisal .......................................................................... 83
10. Project Report .............................................................................. 87
11. Detailed Project Report .............................................................. 107
12. Selection of Business organization ..............................................113
13. Sole Trading : Meaning, Definitions, Characteristics ................ 120and Importance
14. Partnership ................................................................................. 127(Meaning, definitions, characteristics and importance)
15. Co-operatives Societies ............................................................. 141
16. Factors Influencing the Choice of Organisation ........................ 153
17. Financial (Economic) Management ........................................... 157
18. Role of Financial Institutions and Banks .................................... 162
19. Working Capital Evaluation and Management ............................ 180
20. Price Determination and Calculation of Profits .......................... 189
21. Financial Accounting .................................................................. 198
UNIT-IV
22. Production Management ............................................................ 207
23. Marketing Management .............................................................. 235
UNIT-V
24. Regulatory Institutions ............................................................... 259
25. Promotional Institutions ............................................................. 280
26. Self Employment Oriented Schemes ......................................... 297
27. Various Subsidies and Schemes .............................................. 316
28. Incentives to Women Enterpreneurs .......................................... 329
29. Women Enterpreneurship : Opportunities and Problems ........... 335
30. Other Schemes of M.P. Government ......................................... 342
1
Entrepreneurship (Meaning,Definition, Nature, type & Importance) / 1 2 / Entrepreneurship Development I year (Semester-I)
qualification by which a person bears the risks involved in running theenterprise and through his skill, intelligence and imagination, overcomes alldifficulties and uncertainties to determine the success of his enterprise.
Though the concept and meaning of the entrepreneur remained alwaysa controversial subject, the economists and social psychologists have triedto explain the word in different forms from time to time. The definition andmeaning of entrepreneurship have kept on changing according to thechanging economic development.
The graph shown below clears the concept of entrepreneur:
Concept of Entrepreneurship
Various views about Entrepreneurship:
Scholars have defined the term entrepreneurship in various waysaccording to their own opinion and thinking :-
1. Risk bearing capacity : Frank F Knight has defined entrepreneuras a person (or group of individuals) who has the capacity to face andovercome the uncertainties. He differentiated between `common risk' and`uncertainties'. He said the uncertainties are such risk which neither can bepredicted in advance nor can be covered by insurance. Such risk bearingquality is called entrepreneurship. According to him, entrepreneurship isthe power which guarantees to overcome all uncertainties.
Richard Cantillon considered risk bearing an important andsignificant work of an entrepreneur. According to him, entrepreneurshipstands for undertaking risks uncovered by insurance, because entrepreneurhas to face many risk bearing challenges, both during establishment andrunning of the business organization. The opinion of Cantillon gains
1ENTREPRENEURSHIP
(Meaning, Definition, Nature, Type & Importance)
Entrepreneurship is defined as anticipating the future requirements ofthe society and successfully fulfilling these needs with new, creative andimaginative combinations of resources -Franklin A Lindsay.
`Entrepreneurship' is an essential and important part of life. It is notonly a way to earn money, create wealth but is also an important aspect ofpersonality development and socio-economic development which clears allthe obstacles that comes in the path of fulfillment of human needs in a betterway through self reliance and self efforts. It provides powerful expression tothe human enterprise. It would not be an exaggeration to say thatentrepreneurship, besides technique, skill and thinking, is also a way of life.
Concept of Entrepreneurship
The concept of entrepreneurship has remained controversial fromthe very beginning. Various economists, philosophers and sociologists havedefined the entrepreneurship in various ways. The meaning and concept ofentrepreneurship kept on changing according to the economic situationsand type of economy prevailing in different countries and societies. Theword 'entrepreneur' is derived from French word `enterprendre' whichmeans work, enterprise or to undertake. In the 16th century, the personswho organized, guided and controlled the military operations were calledthe entrepreneurs. In the 17th century, the word was commonly used forthe architects and contractors engaged in the profession of public utilityservices. In business, the word was first used by French economist Cantillonin 18th century who was engaged in purchasing or procuring goods andmachinery used for manufacturing to produce marketable commodity.Famous French economist J. B. Say further expounded the definition ofCantillon and said that an entrepreneur is a person who establishes acommercial firm and looks after the production and distribution part of thebusiness organization. Thus, entrepreneurship implies the courage, theintelligence, the imagination and the skill required to establish and run anindustry or business. The ability of bearing risks, making social innovations,providing a dynamic leadership and taking courageous decision to earnprofit is essential for entrepreneurship.
In general terms, entrepreneurship stands for such attitude and
Process of Action
Entrepreneur Enterprise
Risk Bearing Skill
Management
Firm
Person
Leadership
Object
Effective Operation
And Innovation
Entrepreneurship
and
Entrepreneurship Development (FirstYear : Semester I)
Publisher : Kailash PustakSadan
Author : U C Gupta AndSatish Kumar Sharma
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