ENTREPRENEURSHIP

ARTICLE REVIEW

SUBMITTED TO: PROF.C.S. DIKSHIT

SUBMITTED BY: POONAM. J 1121446

Introduction: Who wants to be an Entrepreneur? Young Adult Attitudes to Entrepreneurship as a Career.

The entrepreneurship spirit remains tenuous in a society which is aging yet the future environment highly depends on the creativity and individuality of the young. The article focuses on the factors which are given importance to take entrepreneurship as a career choice. The changing nature of work suggests that young people may face the prospect of a portfolio career including periods of paid employment, non-work, and self employment of which the latter implies a greater scope for entrepreneurship. The current trend where in there is a presence of IT, Knowledge based environment and networking the business has become more flexible rather than the traditional view where entrepreneurship is understood as a risk taking activity. In Australia there are several types of education and training programmes which are provided to encourage entrepreneurs which were not present in the olden day, the current programmes can be broadly classified into: Programmes for small business start ups. Continuing small business educations which were basically short courses to develop specific skills needed for entrepreneur. Small business education

Entrepreneurship and education; Countries like UK educates their students right from their childhood on the aspects of entrepreneurship through caser studies, & small business studies. They lay more emphasis on learning by doing, multi-disciplinary perspectives, experience based learning, the making on judgement under pressure, flexible learning situations, the use of practitioners: but comparatively USA views studies on entrepreneurship from a different perspective they argued that you could not teach someone to be an entrepreneur but that you could teach an entrepreneur the skills needed to be successful. On the contrary UK believed that involvement in entrepreneurship education would help promotion of a culture of enterprise with impacts on the long term regional development, the use of more diverse learning and training methods and above all teaching which is relevant to a student job opportunity. Enterprise as a career; three broad approaches to the choice of enterprise as a career has been identified: Trait Theory: The basic purpose is to identify common links among entrepreneurs which bind them together as a group.

The social development approach : it recognises that decision makers have access to limited information and are prone to external influences and constrains at different stages

The structure Opportunity model: it lays emphasis on career choice which is more influenced by employers need and the overall economic and job climate.

Basing on all the approaches the decisions to become an entrepreneur include individual or psychological components, social, economic features. Gibb dyes perceived entrepreneurial role in two stages initially the general entrepreneurial role of creating and owning the business, many entrepreneurs create their own business when still in regular employment and accordingly they adopt several occupational identities to create a portfolio. The second stage reflects those entrepreneurs who develop new technology, or build an organization or deal making and thus the socialization process will influence the roles taken on. A study was conducted by drawing on groups at various levels in higher education to analyse their attitudes towards entrepreneurship. The results drawn from the study is that most of the groups had overwhelming impression about entrepreneurs commonly regarded as bright or intelligent, mainly in an imaginative rather than academic sense. The inexperienced undergraduates viewed entrepreneurship as innovation, ambition rather than the more ruthless single mindedness. The study also reveals that out of the total sample only two thirds were interested in starting their own business and the rest commented that they do not possess the qualities, they are not ready to take risk, no capital, not ready to put in so much of hard work. The survey also suggests that entrepreneurs are favourably regarded for their ability to make money, dynamism, their motivation and contribution towards the economy. The changing structure of the organization and economy suggest greater need for entrepreneurial activity. It is vital for future national economic growth and hence young people should be encouraged to pursue entrepreneurial careers, therefore many educational institutions lays emphasis on educating students on entrepreneurship and helping them to set their own business. Conclusion: The findings suggest that generally positive images of entrepreneurship are hampered by a lack of identifiable role models, poor media presentation of individuals or small firms, and lack of encouragement from important influencers on career choice such as teachers and career guidance specialists. University courses have their limitations but can have a role in providing a useful insight into the challenges involved in being an entrepreneur and also encouraging skill development and self-reliance.

Introduction: Women Empowerment through Micro Entrepreneurship.

Empowerment involves both the individual change and collective action. For an empowerment approach the development to be successfully implemented, changes are needed in the abilities of individuals and groups to identify and meet their own need in the households, communities, organisations, institutions and society. Micro entrepreneurship refers to entrepreneurship using the aid of micro finance to carry on the business activity. Microfinance is a banking services that is provided to unemployed or low income individuals or groups who would otherwise have no other means of gaining financial services, like conventional banking microfinance institutions charge their lenders interest on loans, and these institutions basically are non-government institutions and the amount given to the entrepreneurs through self help group and it is essential for promoting self employment and it is a tool for empowerment of the poorest. Microfinance clients are typically self-employed, often household based entrepreneurs. Microfinance is provided to safeguard the interest of the low level entrepreneurs from the lenders who give financial help for a higher interest rate. Microfinance general targets women entrepreneurs because they have proved to be reliable because they invest the earned income into their families, resulting in better health and education, and stronger local economy. The significance of women entry into the workforce has produced profound transformations in the organizations and have always actively participated in the local economies. Business women possess the following characteristics; they are concentrated in market sectors that have low barriers to entry and low levels of outside communication, the business is smaller, business growth strategies are affected by household responsibilities, women start their enterprises with less professional work experience and knowledge of their sector than their male counterparts. Women entrepreneurs always encounter limited access to financial services and largely depend on their own cash resources, and in order to remove these barriers microfinance institutions have started provide d financial aid to ensure more cash flows to their enterprise. To increase women entrepreneurship the donor community should increase the availability of the working capital, replicate and expand existing successful methodologies for delivering small working capital loans, promote credit policies. In all these the SHGs lay great importance since they provide maximum support to women entrepreneurs (small scale). A study was conducted in Tamilnadu in three villages which were severely affected by tsunami,

the reason of considering these three villages was the existence of SHG which are functioning very successfully. The data is related to the economic empowerment of women in TN. The study revealed that most of them joined these groups because the SHG helped in getting loan, promote their personal saving and in additional for social status. The SHG has tried to increase women entrepreneurs by motivating them to work and contribute towards the household income, savings as well help economically. Microfinance activities have given them a means to climb out of poverty and run their business successfully.

Conclusion:
A high percentage of women are among the poorest of the poor, even though they possess high capabilities of an entrepreneur therefore microfinance can be a solution to help them widen their horizon and offer them social recognition and empowerment. This will enable them to produce a greater impact as they will increase the quality of the women microentrepreneur and also of her family. Microfinance will provide women with specific adapted products and appropriate methodologies which will offer competitiveness to their business.