ITM KHARGHAR PGDM TRIMESTER V ENTREPRENEURSHIP NOV 09

IT

IS THE PRACTICE OF STARTING NEW ORGANIZATIONS OR REVITALIZING MATURE ORGANIZATIONS, PARTICULARLY NEW BUSINESSES IN RESPONSE TO IDENTIFIED OPPORTUNITIES.

WHAT IS ENTREPRENEURSHIP?

SCALE FUNDING-VENTURE

FUNDING SUPPORT FROM BUSINESS INCUBATORS, SCIENCE PARKS, NGOS AND EDUCATIONAL INSTITUTIONS RISK AND AMBIGUITY

CAPITAL OR ANGEL

SOME ASPECTS-----

AN

ENTREPRENEUR IS ONE WHO CREATES NEW BUSINESSES IN THE FACE OF RISK AND UNCERTAINTY FOR THE PURPOSE OF ACHIEVING PROFIT AND GROWTH BY IDENTIFYING SIGNIFICANT OPPORTUNITIES AND ASSEMBLING THE NECESSARY RESOURCES TO CAPITALIZE ON THEM.

WHO IS AN ENTREPRENEUR

THE ENTREPRENEUR IN AN ADVANCED ECONOMY IS AN INDIVIDUAL WHO INTRODUCES SOMETHING NEW IN THE ECONOMY- A METHOD OF PRODUCTION NOT YET TESTED BY EXPERIENCE IN THE BRANCH OF MANUFACTURE CONCERNED, A PRODUCT WITH WHICH CONSUMERS ARE NOT YET FAMILIAR, A NEW SOURCE OF RAW MATERIAL OR OF NEW MARKETS AND THE LIKE JOSEPH SCHUMPETER

BUSINESS ENTREPRENEUR TRADING ENTREPRENEUR CORPORATE ENTREPRENEUR AGRICULTURAL ENTREPRENEUR TECHNICAL ENTREPRENEUR PROFESSIONAL ENTREPRENEUR INNOVATIVE ENTREPRENEUR IMITATIVE ENTREPRENEURS

TYPES

NEED FOR ACHIEVEMENT-STRONG DESIRE TO BUILD NEED TO WORK INDEPENDENTLY INGENUITY AND RESOURCEFULNESS ABILITY TO EXPLOIT OPPORTUNITIES OPTIMISM IN DECISION MAKING PROCESSES VISION AND DRIVING FORCE PRUDENT RISK TAKING HIGH DEGREE OF MOTIVATION FUTURE ORIENTATION TOLERANCE FOR AMBIGUITY ORGANIZING SKILLS

CHARACTERISTICS

 MANAGERS

MUST BE ABLE TO TRANSLATE THEIR CAREER AMBITIONS INTO SPECIFIC BUSINESS GOALS MUST UTILIZE PEOPLES MANAGEMENT TO MOTIVATE AND INSPIRE THEIR EMPLOYEES MUST CAPITALIZE ON THEIR SKILLS TOMANAGE FINANCIAL ASPECTS PERSONALLY MUST CONVERT AGGRESSION IN THE WORK PLACE INTO A RISK TAKING APPROACH MUST LEVERAGE THEIR FUNCTIONAL EXPERTISE IN CHOOSING THEIR LINE OF BUSINESS MUST DEVELOP LEADERSHIP QUALITIES ON THE JOB BEFORE VENTURING OUT ON THEIR OWN.

To morph into an entrepreneur---

OPPORTUNITY

DESTINY OPPORTUNITY TO MAKE A DIFFERENCE OPPORTUNITY TO REACH YOUR OWN POTENTIAL ENORMOUS PERSONAL AND FINANCIAL GAINS OPPORTUNITY TO DO WHAT YOU ENJOY.

TO CREATE OWN

BENEFITS

DRAWBACKS
UNCERTAINTY

OF INCOME RISK OF LOSING ENTIRE INVESTMENT LONG HOURS OF HARD WORK LOWER QUALITY OF LIFE DISCOURAGEMENT COMPLETE RESPONSIBILITY

NO OF HRS PER WEEK

MORE THAN 60 HRS-17%

LESS THAN 30 HRS-11%

51-60 HRS-20%

30-40 HRS24%

41-50 HRS28%

PATRICIA NOERTZ-ARCHER DANIELS MIDLANDS-$36 BN INDIRA NOOYI-PEPSI CO-$32 BN BRENDA BARNES-SARA LEE-$19.7 BN MARY SAMMONS-RITE AID-$16.8 BN PATRICIA RUSSO- LUCENT TECH- $9.4 BN SUSAN IVEY- REYNOLDS AMERICAN-$8.3 BN ANDREA JUNG-AVON PRODUCTS-$8.1 BN PAULA REYNOLDS-SAFE CO-$6.4 BN MEG WHITMAN-e BAY- $4.6 BN

TOP NOTCH WOMEN ENTREPREPRENEURS(ET-06)

BILL

GATES-56BN WARREN BUFFET-$52BN CARLOS SLIM-49BN LAXMI MITTAL-32BN LI KA SHENG-23BN ANIL AND MUKESH AMBANI-$70 BN plus

TOP NOTCH ENTREPRENEURS

SELF

CONFIDENCE- THE #1 ATTITUDE VALUE THEIR SENSE OF FREEDOM DISCIPLINE HARDWORKING GOAL ORIENTED FLEXIBLE, OPPORTUNISTIC, RECOGNIZE THE POWER OF EMERGENCE EGOLESNESS LOVE MONEY

PROFILE

Do

you back yourself to succeed every time Do you take important decisions or does someone else take them for you? Do you enjoy the process irrespective of the outcome How well do you handle small adversities Did you ever feel helpless- how well did you handle the situation at that time?

ASK YOURSELF---

Do

you know your physical and mental limitations? Do you make friends with a stranger Do you feel comfortable in talking about yourself Do you have a sense of discipline/systematization in your life? Does the act of buying and selling excite you

Keep asking----

ENTREPRENEURIAL CULTURE
INCREASED PRODUCTIVITY COMPETITIVE EDGE IMPROVED QUALITY INNOVATION SOCIETAL CULTURE PRODUCTIVITY CULTURE TQC ORGANIZATIONAL CULTURE CORPORATE VALUES UNDERSTANDING CUSTOMER NEEDS WORLD CLASS SERVICE

THE SUPPLY OF ENTREPRENEURSHIP IS LIMITED BY THE SCARCITY OF THE REQUISITE PERSONAL QUALITIES AND SECONDLY, BY THE DIFFICULTY OF IDENTIFYING THEM WHEN THEY ARE AVAILABLE----------

EXCHANGE RELATIONSHIP PERCEIVING OPPORTUNITIES GAINING COMMAND OVER SCARCE RESOURCES PURCHASING INPUTS MARKETING OF PRODUCTS IN RESPONSE TO COMPETITION PRACTICAL ADMINISTRATION DEALING WITH PUBLIC BUREAUCRACY MGT OF HUMAN RELATIONS MGT OF CUSTOMER AND SUPPLIER RELATIONS

TASKS OF AN ENTREPRENEUR

JOB

CREATION ECONOMIC GROWTH NEW TECHNOLOGY SERVING SMALL MARKETS

CONTRIBUTION TO THE ECONOMY

BASED ON TIMING OF VENTURE CREATION EARLY STARTERS EXPERIENCED MATURE CLASSIFICATION BASED ON ENTREPRENEURIAL ACTIVITY NOVICE SERIAL ENTREPRENEUR PORTFOLIO ENTREPRENEUR CLASSIFICATION BASED ON SOCIO-CULTURAL VARIABLES FIRST GENERATION FROM BUSINESS FAMILIES MINORITY WOMEN

TYPES OF ENTREPRENEURS

MGT CONTROL FINANCIAL MGT PRODUCTION MGT TECHNOLOGY

ACQUIRING AND OVERSEEING ASSEMBLING OF THE FACTORY UPGRADING PROCESS AND PRODUCT QUALITY INTRODUCTION OF NEW PRODUCTION TECHNIQUES,PRODUCTS

When

asked the secret of his success, Richard Branson who founded the multinational Virgin Group said Knowing what exactly gets me up every morning he responded that I am ruthless, that I am not out to win but to beat others to pulp

RICHARD BRANSON SAYS---

AVAILABILITY OF CAPITAL SUPPORTIVE GOVERNMENTAL

PROGRAMMES AVAILABILITY OF REQUIRED TRAINING AND INPUTS COLLABORATIVE RELATIONSHIP BETWEEN BUSINESS AND RESEARCH. CREATION OF AN ENVIRONMENT CONDUCIVE TO INNOVATION

STIMULANTS

EDP AS A MEANSTO DEAL WITH A VARIETY OF PROBLEMS IDENTIFICATION OF OPPORTUNITIES THROUGH ACCESSIBILITY TO INFORMATION STRENGTHENING OF ENTREPRENEURIAL QUALITIES DEVELOPING PEOPLES SKILLS BUSINESS EDUCATION LEGAL ASPECTS PROJECT FORMULATION AND IMPLEMENTATION DEVELOPMENT OF MULTI- SKILLS

ENTREPRENEURSHIP DEVELOPMENT

ON THE JOB TRAINING PARTICIPATION IN QUALITY CIRCLES INPUTS FROM SUCCESSFUL ENTREPRENEURS

MODULAR TRAINING MODULES IN FINANCE GROUP TRAINING ON TECHNICAL SUBJECTS GROUP TRAINING ON MANAGERIAL SUBJECTS

TRAINING TOOLS AVAILABLE

 MDI GURGAON IITS/IIMS NIESBUD STEPS ENTREPRENEURSHIP MOTIVATION XISS COMMERCIAL BANKS MCED NAYE

CENTRE

INSTITUTIONS IN AID OF ENTREPRENEURS

 ESTABLISHING

YOURSELF AS A SUCCESSFUL ENTREPRENEUR DEPENDS IN PART UPON CHOOSING A GOOD IDEA.AN IDEA MUST NOT ONLY BE GOOD FOR THE MARKET BUT ALSO GOOD FOR THE PROJECT, GOOD FOR THE ENTREPRENEURS. IT SHOULD BE MANAGEABLE WITHOUT MUCH DEPENDENCE ON OTHERS.

THE BUSINESS IDEA

SELECTION

OF THE PRODUCT EVELUATION OF THE PRODUCT LABORATORY DEVELOPMENT PILOT PRODUCTION RUN SEMI- COMMERCIAL PLAN TRIALS COMMERCIAL STAGE

STAGES

AWARENESS INTEREST EVALUATION TRIAL ADOPTION

ADOPTION PROCESS

 NEW

PRODUCT IDEAS IDEA SCREENING CONCEPT DEVELOPMENT AND TESTING BUSINESS ANALYSIS PRODUCT DEVELOPMENT PROGRAMME TEST MARKETING COMMERCIALIZATION

PPD

A BUSINESS PLAN IS A WRITTEN DOCUMENT PREPARED BY THE ENTREPRENEUR THAT DESCRIBES ALL THE RELEVENT EXTERNAL AND INTERNAL ELEMENTS INVOLVED IN STARTING A NEW VENTURE. IT IS AN INTEGRATON OF FUNCTIONING OF FUNCTIONAL PLANS SUCH AS MANUFACTURING, FINANCE, MARKETING, AND HUMAN RESOURCES.

BUSINESS PLAN

MAY BE PREPARED BY THE ENTREPRENEUR

CONSULTATION REQUIRED INTERNET SKILL ASSESSMENT SCOPE AND VALUE EMPLOYEES INVESTORS VENTURE CAPITALISTS CUSTOMERS ADVISORS CONSULTANTS

WHO SHOULD WRITE THE PLAN

RESOURCES REQD IN TERMS OF PLANT EQUIPMENT AND MATERIALS SCHEDULE OF AVAILABLE RESOURCES PREMISES REQUIREMENT AND AVAILABILITY TRANSPORT REQUIREMENTS PERSONNEL REQUIRED INSURANCE REQUIREMENTS GOODWILL BASE

RESOURCES REQD-----------

THE BUSINESS IDEA o TYPE OF BUSINESS PROPOSED AND SERVICES TO BE OFFERED o METHOD OF OPERATION o LOCATION AND OPERATIONAL AREA o OUTLINE OF MARKET AND CUSTOMERS o STATEMENT OF VIABILITY PROPRIETORS OF THE BUSINESS o DETAILS OF KEY PERSONNEL o REASONS FOR CHOICE OF THE BUSINESS o APPRAISAL OF AVAILABLE SKILLS AND IDENTIFIED DEVELOPMENT NEEDS

STRUCTURE OF A BUSINESS PLAN

A BUSINESS PLAN HELPS YOU TO ESTABLISH WHERE YOU ARE,WHERE YOU INTEND TO GO AND HOW YOU INTEND TO GET THERE

BUDGETARY PLANS AND CASH FLOW FORECASTS EXPLANATION OF THE BASIS FOR PLANNED BUDGETS BREAK EVEN ANALYSIS AND PROFIT FORECASTS VALUE OF AVAILABLE CAPITAL AND RESOURCES FURTHER FINANCE REQUIRED POTENTIAL SOURCES OF FUNDS CHOSEN SOURCES OF FINANCE AND REASONS FOR CHOICE

FINANCIAL PLANS

HELPS DETERMINE THE VIABILITY OF THE VENTURE IN A DESIGNATED MARKET PROVIDES GUIDANCE TO THE ENTREPRENEUR IN ORGANIZING HIS OR HER PLANNING ACTIVITIES IT SERVES AS AN IMPORTANT TOOL IN OBTAINING FINANCE USEFUL FOR START UP ENTERPRISES MODEL OF GOOD PRACTICES MONITORING PROGRESS AND ACHIEVEMENTS AGAINST TARGETS LAID DOWN

BUSINESS PLAN IMPORTANT BECAUSE-----

 CUSTOMER FEEDBACK QUALITY OF GOODS AND SERVICES MEASUREMENT OF GROWTH OF BUSINESS

COMPARISON TO PREVIOUS YEARS COMPARING ACTUAL/PLANNED INCOME AND EXPENDITURE PROFITMARGINS ANALYSIS OF DEBTORS AND CREDITORS, PAYMENT TERMS ETC TO ENSURE LIQUIDITY.

IN

MEASUREMENT OF SUCCESS

GOALS

SET BY ENTREPRENEURS UNREASONABLE GOALS NOT SMART TOTAL COMMITMENT TO BUSINESS LACKING NO EXPERIENCE IN PLANNED BUSINESS NO SWOT ANALYSIS CARRIED OUT NO CUSTOMER NEEDS ESTABLISHED.

WHY BUSINESS PLANS FAIL

 KNOWING YOURSELF AND OTHERS PEOPLE SKILLS EFFECTIVE COMMUNICATION PROBLEM SOLVING SKILLS CREATING CUSTOMERS MARKETING AND PR EFFECTIVE SELLING- CRM QUALITY MANAGEMENT MANAGING USP

IMPORTANCE OF MARKET FOCUS

oIMPORTANCE OF SPOTTING TRENDS oANTICIPATION oFAST DECISION MAKING oCONSTANT RE-ASSESSMENT oSTAY CLOSE TO THE CUSTOMER oINNOVATE CONSTANTLY oCONCENTRATION ON NARROW TARGETS

INTELLECTUAL PROPERTY- COPYRIGHTS, PATENTS, TRADEMARKS, TRADE SECRETS PATENTS- DISCLOSURE, PATENT APPLICATION, PATENT INFRINGMANTS TRADEMARKS COINED MARKS ARBITRARY MARKS SUGGESTIVE MARKS DESCRIPTIVE MARKS

LEGAL ISSUES

FILLING

FORM DRAWING THE MARK FIVE SPECIMENS SHOWING ACTUAL USE OF THE MARK FEE

PROCESS---

INITIAL 20 YRS REGN WITH 20 YRS RENEWABLE TERMS PROVIDES NOTICE TO EVERYONE THAT ONE HAS EXCLUSIVE RIGHTS FOR THE USE OF THE MARK ENTITLEMENT TO SUE IN A COURT OF LAW INCONTESTABLE COMMERCIAL RIGHTS FOR USE OF THE MARKS PROVIDES A BASIS FOR FILLING TRADEMARK APPLICATIONS IN FOREIGN COUNTRIES

TRADEMARKS

 PROTECTION

AUTHORSHIP PROTECTION OF MATERIAL ON THE INTERNET

OF ORIGINAL WORK OF

COPYRIGHTS

 PROTECTION

AGAINST OTHERS REVEALING OR DISCLOSING INFORMATION THAT COULD BE DAMAGING TO THE BUSINESS OFFICE SECURITY INFO ON NEED TO KNOW BASIS SCREENING OF EMPLOYEES FAXING OF SENSITIVE INFO

TRADE SECRETS

 LEGALLY

PARTIES SPECIFIC ROLE OF PARTIES IN THE TRANSACTION IMPORTANT VOLUNTARY ACCEPTANCE IMPORTANT TRANSACTION SHOULD BE DESCRIBED IN DETAIL.

BINDING AGREEMENT BETWEEN TWO

CONTRACT

FACTORIES ACT 1961 INDUSTRIAL DISPUTES ACT 1947 OFFICES, SHOPS AND RAILWAY PREMISES ACT 1956 OSHA FIRE REGULATIONS ENVIRONMENTAL HEALTH ACT CONTROL OF POLLUTION ACT 1974 SALE OF GOODS ACT 1979 CONSUMER PROTECTION ACT 1987 ADVT STANDARDS DATA PROTECTION ACT 1984 MINIMUM WAGES ACT PARTNERSHIP ACT 1896

GOVT REGULATIONS TO BE COMPLIED WITH

 BUSINESS

NAMES ACT 1985 COPYRIGHT, DESIGNS AND PATENT ACT 1988 CONSUMER CREDIT ACT 1974 INSOLVENCY ACT 1986 TRADE UNION ACT 1926(AMENDED 47, 60,62,64 AND 82)

CONTD-----

PROPRIETORSHIP PARTNERSHIP PVT

LTD COMPANY PUBLIC LTD COMPANY COOP SOCIETY

TYPES OF FIRMS

STGS OF BUSINESS DEVELOPMENT FUNDING

EARLY

SEED CAPITAL-SMALL AMOUNTS TO PROVE CONCEPTS,AND FINANCIAL FEASIBILITY STUDIES START UP- FUNDING TO GET THE OPERATIONS OF THE COMPANY ACTUALLY STARTED

STG FINANCING

EXPANSION OR DEVELOPMENT FINANCING SECOND STAGE-WORKING CAPITAL FOR INITIAL GROWTH PHASE THIRD STAGE- MAJOR EXPANSION AND GROWTH BRIDGE FINANCING

FINANCING

FOR ACQUISITION AND LBO

MANAGEMENT CONSULTANCY PROFESIONAL ADVICE AND SERVICES FOR RAISING RESOURCES FROM THE MARKET TECHNICAL CONSULTANCY ORGANIZATIONS FOR SMALL AND MEDIUM INDUSTRIES INTERFACE BETWEEN SCIENCE AND TECHNOLOGY AND THE INDUSTRY ENTREPRENEURSHIP DEVELOPMENT AND RESEARCH FINANCIAL ASSISTANCE IN TERMS OF SOFT LOANS,100% FINANCE FOR DISABLED ENTREPRENEURS, ASSISTANCE TO EX- SERVICEMEN EQUIPMENT FINANCE AND THE LIKE ASSISTANCE FROM STATE GOVERNMENTS

FORMS OF ASSISTANCE TO ENTREPRENEURS

IDBI IFCI ICICI NABARD SFC SIDBI IFCI

FINANCIAL INSTITUTIONS IN AID OF ENTREPRENEURS

IFCI

GRANTING LOANS ON SUBSCRIBING TO DEBENTURES REPAYABLE WITHIN A PERIOD NOT EXCEEDING 25 YEARS GUARANTEEING LOANS RAISED BY INDUSTRIAL CONCERNS WHICH ARE REPAYABLE WITHIN A PERIOD NOT EXCEEDING 25 YRS GUARANTEEING DEFERRED LOANS DUE FROM ANY INDUSTRIAL CONCERN(IMPORT/PURCHASE OF CAPITAL GOODS) FINANCING PUBLIC SECTOR PROJECTS SETTING UP OF NEW INDUSTRIAL PROJECTS EXPANSION,DIVERSIFICATION, MODERNIZATION, RENOVATION

MODERNIZATION ASSISTANCE SCHEMES TECHNICAL DEVELOPMENT FUND SCHEME VENTURE CAPITAL FUND SCHEME EQUIPMENT FINANCE SCHEMES FOREIGN CURRENCY ASSISTANCE SCHEMES EQUIPMENT RE-FINANCE SCHEMES SEED CAPITAL SCHEME MODERNIZATION AND REHAB OF SMALL AND MEDIUM INDUSTRIES

IDBI

INTEGRATED RURAL DEVELOPMENT PROOTION OF COTTAGE ANDVILLAGE INDUSTRIES AS WELL AS HANDICRAFTS SHORT- TERM RE-FINANCE ASSISTANCE MEDIUM AND LONG TERM LOANS LINKS WITH RBI

NABARD

SUPPORT

SERVICES ENVIRONMENT MANAGEMENT COLLABORATION WITH NGOS, CONSULTANCY AND VOLUNTARY ORGANIZATIONS

SIDBI

 ASSIST

IN CREATION , EXPANSION AND MODERNIZATION OF PRIVATE ENTERPRISE ENCOURAGING/PROMOTING PARTICIPATION OF PVT CAPITAL RUPEE AND FOREIGN CURRENCY LOANS SOFT LOANS GUARANTEES CREDIT FACILITIES TO MANUFACTURERS

ICICI

EQUITY

PARTICIPATION FINANCIAL ASSISTANCE DEVELOPING INDUSTRIAL AREAS INCENTIVES PROMOTIONAL SERVICES

SIDCS

GOODS SERVICES EXPERIENCES EVENTS PERSONS PLACES PROPERTIES ORGANIZATIONS INFORMATION IDEAS

SCOPE/ENTITIES OF MARKETING

TGT MKT AND SEGMENTATION NEEDS,WANTS AND DEMANDS PRODUCT OFFERING AND BRAND VALUE AND SATISFACTION RELATIONSHIPS AND NETWORKS MARKETING CHANNELS COMPETITION MARKETING ENVIRONMENT IDENTIFICATION OF ANY SPECIAL MARKETING INFLUENCES

CORE MARKETING CONCEPTS

CHOSEN MEANS OF OPERATIONS WITH JUSTIFICATION OF CHOICE RELEVANT LEGISLATION TIME TABLE AND PHASING OF BUSINESS START UP KEY STAGES OF IMPLEMENTATION MONITORING AND CONTROL SYSTEMS CUSTOMER RECORD AND FEEDBACK

IMPLEMENTATION OF PROPOSALS

GATHERING OF MARKET INTELLIGENCE TARGETING CUSTOMERS LOCATING AND ATTRACTING NEW CUSTOMERS IDENTIFYING CUSTOMER PREFERENCES REVIEWING DFECTION PERCENTAGE RETAIN CUSTOMER LOYALTY MANAGING FOR PROFITABILITY INTEGRATION OF MARKETING FUNCTIONS

MARKETING INVOLVES-----

 PRODUCER--- CONSUMER PRODUCER-----WHOLESALER----CONSUMER PRODUCER----WHOLESALER---RETAILER---

CONSUMER PRODUCER---AGENT---WHOLESALER---RETAILER---CONSUMER PRODUCER---WHOLESALER---CONSUMER.

MARKETING CHANNELS

FUNCTIONS OF MARKETING CHANNELS

ROUTE TO LINK PRODUCERS AND USERS STORAGE OF GOODS INTRODUCTION OF NEW PRODUCTS/MERCHANDISING EASIER GIVE ADVICE REGARDING PRICE ACCEPTABLE TO PRODUCER AND CONSUMER BULK BREAKING MARKET INFORMATION TO BUYERS BRING PRODUCT NEARER TO CONSUMER.

MARKET SEGMENTATION ASSESS STRENGTHS AND WEAKNESSES PRODUCT OR SERVICEBRANDNAME,PRICE,WARRANTY,IMAGE,SERVICE,DELIVERY TIME CUSTOMER SERVICE-FOLLOW UP,EMPLOYEE REWARDS,REGULAR CONTACT WITH THE CUSTOMERS COORDINATION OF THE PLANNING PROCESS RESPONSIBILITY FOR IMPLEMENTATION BUDGETING

OPPORTUNITIES AND THREATS-TGT MKT

IMPORTANCE OF CONVERTING PURCHASING POWER INTO EFFECTIVE DEMAND FOR A PRODUCT /SERVICE PRODUCT SHOULD BE DIFFERENT/SPECIFIC-WHETHER REAL OR IMAGINARY EMPHASIS ON WHAT THE CUSTOMER/BORROWER WANTS EMPHASIS ON SOCIAL GOOD EMPHASIS ON MARKETING FUNCTIONS LIKE MKT INFORMATION AND RESEARCH,PRODUCT PLANNING, WAREHOUSING,SALES AND DISTRIBUTION.

METHODS OF MARKETING

PLAN MEASURE AND EVALUATE MARKETING EFFORT OFFERS RT PRODUCT,RT PACKAGE,RT DEMAND ETC COVERS MKT AND SALES RESEARCH,PRODUCT RESEARCH,ADVT AND PROMOTION,SALES METHODS AND POLICIES,DISTRIBUTION RESEARCH FOCUS ON BUSINESS DECISIONS IDENTIFICATION OF VIABLE OPPORTUNITIES TESTING FEASIBILITY OF A PARTICULAR COURSE OF ACTION

MARKETING RESEARCH

ELEMENTS OF MARKETING MIX

PRODN MIXBRAND,STYLE,COLOR ,DESIGN,PRODUCT LINE,PACKAGE,WARR ANTY,SERVICE PRICING MIX PRICING STRAT,POLICY,BASIC PRICE,TERMS OF CREDIT,DISCOUNTS

MKT STRATMARKETING MIX FOCUSED ON PRODUCT MKT PROMOTION MIXPERSONAL SELLING,ADVT,PUBLI CITY,SALES PROMOTION PLACE MIX DISTR CHANNELS PHYSICAL DISTR

OBJECTIVES ENTREPRENEURSHIP DEVELOPMENT REGIONAL DEVELOPMENT PROVIDE COMPETITIVE STRENGTH MOTIVATE PEOPLE FOR NEW VENTURES GIVE STIMULUS FOR INDUSTRY AND

BUSINESS

INCENTIVES

 TECHNICAL FINANCIAL SUBSIDIES TAX

ADVANTAGES UNIFORM DEVELOPMENT IN ALL REGIONS REDUCE OVERALL PROBLEMS OF SMALL SCALE ENTREPRENEURS

TYPES

CORRUPTION MISUSE ETHICS FINANCIAL

DRAIN FOR THE EXCHEQUER

PROBLEMS

IMPORTANCE OF WELL DEFINED ROLES EFFECTIVE INTERVIEWING AND HIRING PROCEDURES IDENTIFICATION OF MAJOR ACTIVITIES REQUIRED TO OPERATE ORGANIZATION EFFECTIVELY ORGANIZATIONAL STRUCTURE PLANNING,MEASUREMENT AND EVALUATION SCHEMES REWARDS AND INCENTIVES SELECTION CRITERIA

THE ORGANIZATIONAL PLAN

 JOB

ANALYSIS,DESCRIPTIONS AND SPECIFICATIONS POSITIONS NECESSARY TO ACCOMPLISH TASKS/JOBS TO BE PERFORMED DECISION FOR TRAINING/EVALUATION OF EMPLOYEES SEARCH FOR TALENT

BUILDING A SUCCESSFUL ORGANIZATION

 INVESTMENT SIZE LOCATION TECHNOLOGY EQUIPMENT MARKETING DEMAND AND SUPPLY OF PRODUCTS MOTIVATION, ATTITUDE AND SKILLS

ENTREPRENEUR

OF

CRITERIA FOR SELECTING PROJECTS

CATALYTIC AGENTS FOR ECONOMIC DEVELOPMENT LONG TERM COSEQUENCES PROVIDE FRAMEWORK FOR FUTUREACTIVITIES OF ENTERPRISES SUBSTANTIAL FINANCIAL OUTLAYS INITIATE DEVELOPMENT OF BASIC INFRASTRUCTURE AND ENVIRONMENT CANNOT BE EASILY REVERSED BRINGS NECESSARY CHANGES IN SOCIETY IN COURSE OF TIME.

DIMENSIONS OF A PROJECT

PROJECT---FEASIBILITY---

TECHNOECONOMIC STUDY---DESIGN--NETWORK---- INPUT---FINANCE--SOCIAL---COST BENEFIT-----PREINVESTMENT

SEQUENTIAL STGS OF PROJECT FORMULATION

CHOICE OF APPROPRIATE TECHNOLOGY TECHNICAL COLLABORATION ARRANGEMENTS IF ANY SIZE AND SCALE OF OPERATIONS LOCATIONAL ASPECTS-AVAILABILITY OF INFRA SELECTION OF PLANT, MACHINERY AND EQUIPMENT PLANT LAYOUT AND FACTORY BUILDINGS TECHNICAL ENGG SERVICE PROJECT DESIGN AND NETWORK ANALYSIS MANAGEMENT OF BY-PRODUCTS PROJECT COST ESTIMATES AND PROFITABILITY PROJECTIONS

SCOPE OFPROJECT APPRAISAL

OBJECTIVE AND SCOPE OF THE REPORT PRODUCT CHARACTERISTICS MARKET POSITION AND TRENDS RAW MATERIALS MANUFACTURE PLANT AND MACHINERY LAND AND BUILDING FINANCIAL IMPLICATIONS MARKETING CHANNELS PERSONNEL

CONTENTS OF A PROJECT REPORT

RECORD KEEPING MONITORINGINCOMING/OUTGOING REVENUE TRACKING CUSTOMERS RECRUITING AND HIRING EMPLOYEES MOTIVATION AND DIVERSITY MANAGEMENT COMMUNICATION WITH MANAGERS AND EMPLOYEES MANAGING CASH FLOW-BUDGETED VS ACTUAL MANAGING SHORT TERM VS LONG TERM DEBT CREATING AWARENESS OF NEW VENTURES TIME MANAGEMENT NEGOTIATION SKILLS

MANAGING A NEW VENTURE

 IT

IS A FORM OF DISTRIBUTION IN WHICH SEMI-INDEPENDENT BUSINESS OWNERS(FRANCHISEES) PAY FEES TO A PARENT COMPANY (FRANCHISOR) IN RETURN FOR THE RIGHT TO BECOME IDENTIFIED WITH ITS TRADEMARK, TO SELL ITS PRODUCTS OR SERVICES, AND OFTEN USE ITS BUSINESS FORMAT AND SYSTEM

FRANCHISING

PRODUCT

DISTRIBUTION FRANCHISING PURE FRANCHISING

TYPES

SMALL BUSINESS RELATIVELY QUICKLY BENEFIT FROM BUSINESS EXPERIENCE MANAGEMENT TRAINING AND SUPPORT BRAND NAME APPEAL STANDARDIZATION ADVT SUPPORT PROVEN PRODUCTS CENTRALIZED BUYING POWER TERRITORIAL PROTECTION GREATER CHANCES OF SUCCESS

BENEFITS

 FRANCHISE FEE AND PROFIT SHARING STRICT ADHERENCE TO STANDARDIZED

OPERATIONS RESTRICTIONS IN PURCHASING LESS FREEDOM NO GUARANTEES MAX INVOLVEMENT ORAL PROMISES GET RICH QUICK SCHEMES

DRAWBACKS

 EVALUATE YOURSELF RESEARCH YOUR MARKET CONSIDER FRANCHISE OPTIONS TALK TO EXISTING FRANCHISEES ASK THE FRANCHISOR SOME TOUGH LOCATION PIGGY BACKING DEDICATED MGT TEAM BE THOROUGH

QUESTIONS

BUYING A FRANCHISE

 INFORMATION

ABOUT EXPERIENCE, FRANCHISES BEING SOLD ETC BUSINESS EXPERIENCE LAWSUITS IF ANY CONTINUING PAYMENTS AFTER START UPS QUALITY RESTRICTIONS FRANCHISEE OBLIGATIONS TERRITORIAL PROTECTION TRADEMARKS TRADE NAMES ETC FINANCIAL STATEMENTS

FRANCHISE DISCLOSURES

APPARELS BEAUTY SALONS COURIER SERVICES CONSULTANCY CYBER CAFES DESIGNER WEAR EDUCATION ENTERTAINMENT FOOD AND BEVERAGES GIFTS AND GREETINGS HOME PRODUCTS HOTELS AND MOTELS EMIGRATION RETAIL SCHOOLS

AREAS OF FRANCHISING

FRANCHISOR

KNOWHOW ETC

PAYS ROYALTY

APPTS
MASTER FRANCHISOR

PAYS ROYALTY

APPTS

FRANCHISEE

CONTRIBUTION, INVESTMENT, SITE, INFRA

KNOW KNOW KNOW KNOW KNOW KNOW KNOW

YOUR YOUR YOUR YOUR YOUR YOUR YOUR

PARTNERS WEAKNESSES MARKET VALUE TRADEMARK PRODUCT AND SERVICE RESOURCES

BASICS OF INTERNATIONAL FRANCHISING