EM Theory Notes

8/18/2019 EM Theory Notes

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Q & A from 2001 to 2014

Any enterprise needs entrepreneurs to start the enterprise and run it. It alsoneeds managers for the managerial role required for running day to dayoperations of the enterprise. Generally the Chief Executive and his team attop level play the role of entrepreneurs whereas the group of ocers in theorganisation in middle level as well as lower level plays the role of managers.A professional manager takes care of the general functions of running anorganisation such as strategic planning operation planning organising theresources stangcoordination motivation and controlling work in the

organisation. !he professional manager is driven "y a plan to achieve thepredetermined targets to "uild the organisation and develop it. A manageruses managerial tools to achieve the targets like the volume of productionthe pro#t or growth of an organisation. $e contri"utes on day to dayoperations in achieving the quality of goods produced makes ecient use ofthe resources and enhancement of the standards. A manager is appointed "ythe organisation and paid as per the employment contract. An entrepreneuris not a paid manager. $e is great motivator to start his new "usiness andalso manage it successfully. $e is the investor and takes risks in theenterprise. $e is an innovator and a manager and works for his satisfactionand he is happy to get positive results. An entrepreneur appoints a manager

for carrying out some of his functions whereas the reverse is not true. Anentrepreneur may also perform duties of a manager in getting done hiscreative activities and satisfying need of achievement. An entrepreneur takesa venture for his personal satisfaction whereas a professional manager hasfunctions like setting targets following rules procedures attainment of settargets. Any failure of an enterprise may "e a huge loss in the career of anentrepreneur. In case of professional managers the failures may mean little.

%

Entrepreneurs and managers--similarities and

dierencesOr compareManagers v/s EntrepreneursOriscuss t!e critical points of similarities and

dierences "et#een entrepreneurs and

professional managers$Oriscuss t!e %ualities of a successful entrepreneur

vis--vis a successful manager in t!e 'ndian

conte(t$)200*+

Apr2010,2002,200,200.


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!he distinction "etween an entrepreneur and with professional & traditionalmanager is detailed in to separate ta"le '.()a"le *$2 istinctive eatures of Entrepreneur and rofessional

Manager

Entrepreneur rofessional Manager*isk+taking

Committed

,isionary

-otivator

erception of an opportunity

Interpersonal communication

lanner

/egotiating

!rou"le+shooting

!actical lanningInnovator

0etermined

-aking it a growing concern

olicy formulation

1oyal

lanner

2killed 3nowledgea"le

2etting of o"4ectives

5ormal Communication

Implementer

6rganising

-otivating

2trategic lanningAdministrator

Con#dent

Controlling

An entrepreneur di7ers from manager with respect to the following)a"le *$ Managers vs$ Entrepreneurs

3asis Manager Entrepreneur

unning of "usiness $e runs an alreadyexisting "usiness $e sets up a new"usiness

enterprisE5pe of

s6ills

$e possesses the

managerial skills and

"usiness know+how to

operate a

"usiness enterprise.

$e possesses the

managerial

creative and innovative

skills to

launch a "usiness

venture.7or6ing

attern

e works in the set up

created "y theentrepreneur. $e

performs day+to+day

functions of the

"usiness.

$e acts as an innovator

and createsa set up for managers

to work in.

8ision $e maintains the

eciency of the

$e launches a new

"usiness and works for

(


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organisation. its

growth and successemuneration $e is paid for his

services "y the

company. $e does not

assume any

risk for "usiness

activities.

$e assumes the risk of

success or failure of an

enterprise

unctions$ $e performs managerial

functions

on a continuous "asis.

$e performs

entrepreneurial

functions only when

there is the need to

launch a new enterprise

or reenergise

8change9 the existingenterprise.

Entrepreneurial

functions are not

performed on a

continuous "asisAccounta"ilit5$ $e is accounta"le to his

superiors

and also the owners of

the

company.

$e is accounta"le to his

own self. $e does not

have any "oss

3asic Motive :ant promotion and

traditional

corporate rewards.

ower

motivated

:ants 5reedom goal+

oriented self+reliant

and

self+motivated

7or6 9t5le 0elegate action

supervising and

reporting take most of

energy.

Gets hands dirty. -ay

upset employees "y

suddenly doing their

workraining and

evelopment

rofessional training.

6ften

"usiness+school trained.

3nows "usiness

intimately. -ore

"usiness

acumen than

managerial or political

skill. 6ften

;


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technically trained if in

technical "usinessegree of :ourage

& estin5

2ees others in charge of

his or her

destiny. Can "e forceful

and

am"itious "ut may "e

fearful of

others< a"ility in case of

optimism.

2elf+con#dent

optimistic courageous

ocus rimarily on events

inside

corporation.

rimarily on technology

and market place

3ac6ground 5amily mem"ers worked

for largeorganisations.

Entrepreneurial small+

"usiness professionalor

agricultural "ackground;evel of Education $ighly educated 1ess well educated in

earlier studies some

graduates work "ut not

h.0elations!ip #it!

Ot!ers

$ierarchy as "asic

relationship

!ransactions and deal

making as "asic

*elationship

Orientationto#ards time

management

*espond to quotas and"udgets

weekly monthly

quarterly annual

planning hori=ons the

next

promotion or transfe

goals of '+%> yeargrowth of "usiness in

view and

o"4ectives. !akes action

now to move the next

step along way.

9tatus Que Cares a"out status

sym"ols 8decent

oce etc.9

$appy sitting on an

orange crate if 4o" is

getting

0oneegree of is6 Careful 1ike moderate risk.

Invests heavily "ut

expects

to succeed.ecision Ma6ing Agrees with those in

power.

5ollows private vision.

0ecisive and

?


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0elays decision until he

gets a feel

of what "osses want

actionoriented.

Mista6es and


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Managerial 'ntrapreneurial Entrepreneurial

rimar5

motives

promotional and

other traditional

corporate

rewards like

oce sta7

power

Independence

and a"ility to

advance in the

corp. rewards

Independence

opportunity and

money

ime

orientation

2hort term +

meeting quotas

and "udgets:&-&B and

annual planning

hori=on

@etween

-anager and

Entrepreneurdepending on

urgency to meet

self imposed and

corp. timeta"le

2urvival and

achieving '+%>

yrs growth of"usiness

Activit5 0elegates and

supervises rather

than directinvolvement

0irect

involvement

more thandelegation

0irect

involvement

is6 Careful -oderate risk

taker

-oderate risk

taker

9tatus Concerned a"outstatus sym"ols

/ot concerneda"out traditional

status sym"ols

desires

independence

/ot concerneda"out status

sym"ols


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ailures and

mista6es

!ries to avoid

mistakes and

surprises

Attempts to hide

risky pro4ects

from view until

ready

0eals with

failures and

mistakes

ecisions Dsually agrees

with those in

upper

management

positions

A"le to get others

to agree to help

achieve dreams

5ollow dreams

with decisions

elations!ip

#it! ot!ers

$iararchy as

"asic relationship

!ransactions

within hiararchy

!ransactions and

deal making as

"asic relationship

Factor Male Entrepreneur Female Entrepreneur

Motivation 2elf image as it relates

to status desire to grow

faster achievement+

strive to make things

5lexi"ility in working

hours to "e independent

achievement

+accomplishment of a

:ompare 5ear 2002

Male Entrepreneurs v/s emale EntrepreneursApr2001


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happen goal

easons for

"ecoming an

entrepreneur

Fo" frustration side

activity of present 4o"

.gra""ing anopportunity

Earning extra money for

the family .keeping

oneselfgainfullyoccupied

.ina"ility to seek wage

employment .lack of

growth in the present

4o"9ources of

funds

ersonal savings "ank

#nance investors

5amily and personal

loans

Occupational

3ac6ground

Experience in line of

work comperence in

managing "usiness

$ouse wife service

related

ersonalit5 Goal oriented high level

of self con#dence

enthusiasthic and

energetic innovative

and idealistic

5lexi"ilty and tolerant

goal oriented adequate

self con#dence

enthusiastic and

energetic creative and

realistic

9upport =roup rofessionals family

"usiness associations

Close friends family

and hus"ands women

organisations

9!ort >otes

E(port inance Ma5 2004


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usually feel "ad "ecause no"ody likes "een associated with failure. 5ailure

makes you look like a dum"H while success puts you in the hero position.

5ailure makes you feel alone.

H I have successful entrepreneurs and role models that have failed woefully in

the past.

ailure is t!e "eginning of entrepreneurs!ip Ma5 2004


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J2uccess is a poor teacher. :e learn the most a"out ourselves when we fail

so don


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JI have not failed. I have 4ust found %>>>> ways that won>> times. !hese

re4ections formed the foundation on which 3entucky 5ried Chicken was "uilt

and this is what Colonel $arland 2anders has to say a"out his initial failures.

JI made a resolve then that I was going to amount to something if I could.

And no hours nor amount of la"our nor amount of money would deter me

from giving the "est that there was in me. And I have done that ever since

and I win "y it. I know.L M Colonel $arland 2anders

*$ $ @$ o#ling

$arry otter series is one of the "est selling "ooks in the world "ut what

most people will never know is that the author J $ @$ o#lingL was turned

down several times "y pu"lishers. Instead of "eing deterredH she went on to"ecome a "illionaire author and this is what she has to say a"out her initial

failures.

J:hat


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J/ever "e ashamedO !here


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went through four "usiness failures "efore making his #rst million at the age

of ;;.

$ onald rump

0onald !rump is a savvy real estate "illionaire that has gone through"ankruptcyH not one "ut twice. $e once had a personal de"t of P%"illion and

corporate de"t of P"illion "ut he courageously pulled himself out of the

mess and this is what he has to say a"out his "usiness failures.

JAnyone who thinks my story is anywhere near over is sadly mistaken.L M

0onald !rump

J2ometimes "y losing a "attle you will #nd a new way to win the war.L M

0onald !rump

JI was relentless even in the face of total lack of encouragement "ecause

much more often than you thinkH sheer persistence is the di7erence "etween

success and failure.L M 0onald !rump

10$ ic!ard 3ranson

*ichard @ranson is one of the few entrepreneurs that inspire me the most. $e

has gone through thick and thinH and has "een on the verge of "usiness

failure on countless occasions. $is #rst "usiness *student ma(a+ine9 failed

despite showing strong potentials. *ichard @ranson has also painfully shut

down or sold some "usinesses 4ust to surviveH "ut despite all he still

emerged stronger and more successful. Kou can read a"out his "usiness

experience failures and successes in his "est selling "ook J&osin( #y

Vir(inity, -o% .’'e $ur'i'ed/ -ad 0un/ and #ade a 0ortune Doin( Business

#y Way!L

J:e have always had a pretty competitive ferocious "attle with @ritish

Airways. It lasted a"out %? years and we are very pleased to have survived

it.L M *ichard @ranson

J!o "e successful you have to "e out there you have to hit the ground

running and if you have a good team around you and more than a fair share

of luck you might make something happen. @ut you certainly can


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As a #nal note these are the top ten entrepreneurs I chose to share their

failure stories with you. !he reason i shared these failure stories is to make

you see that there is no shortcut to success and thereD9 >EE ?EO O MO'8A'O>

!ree "asic t5pes of motivating needs

• %Q /eed for achievement

– $ave an intense desire for success and an equally intense fear of

failure – :ant to "e challenged – 2et moderately dicult goals for themselves – !ake realistic approach to life – :ould analyse and assess pro"lems and take personal

responsi"ility of completing a 4o" – 1ike speci#c and prompt feed"ack on how they are doing

•

(Q need for power

– eople with high need for power have a great concern for

exercising inRuence and control – !hey seek positions of leadership – Good conversationalists – Can "e argumentative – 5orceful outspoken hardheaded and demanding – En4oy mentoring

• ;Q need for aliation

– 0erive pleasure from "eing loved and tend to avoid the pain of"eing re4ected "y a social group

– Concerned with maintaining pleasant social relationships – En4oy sense of intimacy and understanding – *eady to console and help others in trou"le

• $ow it applies to managers

%?

9!ort notes F>eed for Ac!ievement !eor5 Apr 200


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• Entrepreneurs ) showed very high need for achievement H fairly high

need for power H low in their need for aliation

– In small companies& ,entures ) president& entrepreneur has a

very high achievement motivation – In large companies ) – CE6& Entrepreneur tend to "e average in achievement "ut

stronger in power and aliation – Entrepreneurs) rated higher in achievement motivation

>ational 9mall 'ndustries :orporation )>9':+ !he /2IC was constituted in the year %'' with a view to promoting aidingand fostering the growth of small scale industries in the country with focuson commercial aspects of the these functions. /2IC continues to implementits various programmes and pro4ects throughout the country to assist the 22Iunits. !he Corporation has "een assisting the sector through the followingschemes and activities )

:omposite erm ;oan 9c!emeF !o promote small+scale sector /2IChas launched a Composite !erm 1oan 2cheme for the "ene#t of existing andprospective entrepreneurs to acquire land and "uilding machinery andequipment and working capital under one roof to the tiny units.

?ire urc!ase 9c!emeF 2upply of indigenous and imported machineryand equipment on each #nancial terms with special focus on womenentrepreneurs weaker sections handicapped and exservicemen and 2C&2!entrepreneurs.

E%uipment ;easingF It is done mainly to facilitate 2-Es to expand theircapacities or diversify and&or upgrade their technology according to theneeds of the market.

7or6ing :apital inanceF !his 2cheme aims at augmenting workingcapital of via"le and well managed units on selective "asis in case ofemergent requirements in ena"le them to pay+o7 theirpurchase ofconsuma"le stores spares and production related overheads particularlyelectricity "ills statutory dues.

a# Material AssistanceF It facilitates availa"ility of scarce raw materialeither through the domestic market or "y importing.

Mar6eting 9upport rogrammeF /2IC has "een trying to act as a ma4oragency to "ring 2-Es closer to various Governmental purchasing agencieswith the intending of creating con#dence in the purchasing agencies a"out

%'

9!ort notes F>ational 9mall 'ndustries :orporation;imited Apr 200


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2-Es and their capa"ilities to supply goods and services of requisitequalityeconomic prices and adherence to agreed delivery scheduling

ender Mar6etingF !o participate in "ulk glo"al tender on "ehalf of 2mall2cale Industrial Enterprises. It is a immediate assisting 22I>T export ofsoftware and also act as the ma4or point activate software exports directlythrough /2IC.

/2IC+2! Complex at 6khla /ew 0elhi is one of such arks set up "y the/ational 2mall Industries Corporation under the 2oftware !echnology arks of India to promote small entrepreneurs in softwaredevelopment. /2IC+2!provides high speed "etter communication facilities through,2/I&2A!C6-networks "uilt+up oce space and uninterrupted power supply"reak+up and other administrative support.

E(portsF /2IC is providing a complete package of export assistancetesting facilities preshipmentcredit facility export incentives etc. apart fromexposure to the products of 225C in tradefairs "uyer and seller meets etc.the corporation has "een endeavouring to increase share of India.Industriesin purchases to Dnited /ations 6rganisation it "eing the largest single "uyer

in the world

%. romoted "y Dnited /ations< Asian and aci#c Center for !ransfer of !echnology8AC!!9 and 2I0@I. 6ne roof synergy of technology and #nance

%

9!ort notes ec!nolog5 3ureau of 9mall Enterprises Apr 200


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(. rovides a gateway technology market through Internet and otherchannels;. Range of Services +8a9 Technology Information – Computeri=ed data"ase on technologyoption

availa"le from di7erent countries.8"9 Match Making G @etween "usiness partners willing to colla"orate8c9 Finance Syndication G !hrough 2I0@I covering term loans foreigncurrency venture capital letter of credit equity assistance8d9 Support ServicesF Consultancy visits of overseas experts "uyer+sellermeets for speci#c product & process technologies.

!he 0evelopment Commissioner 82mall 2cale Industries9 oce is also known

as the 2mall Industry 0evelopment 6rgani=ation 82I069. It is an apex "odyesta"lished in %'? for assisting the -inistry in formulating coordinatingimplementing and monitoring policies and programmes for the promotionand development of small scale industries. It has over > oces and (%autonomous "odies under its managementincluding !ool *ooms !raining Institutions and ro4ect+cum+rocess0evelopment Centres etc. 5unctions of such main "odies are as follows)

2mall Industries 2ervice Institutes 82I2Is9 are operational one in eachstate. !hey provide technical support and consultancy services conductentrepreneurship development programmes an export promotion and liaisonactivities Emphasi=es is also placed on implementation of programmes on

moderni=ation energy conservation quality control & up gradation andpollution control for the "ene#t of entrepreneurs. *egional !esting Center 8*!C9 provides !esting facilities for product quality

up gradation. !ool *ooms&!ool 0esign Institutes 8!*s&!0I9 assist 22Is in technical up

gradation and provide good quality tooling "y designing and producing toolmoulds 4igs S #xtures components etc.

roduct+cum+rocess 0evelopment Centres 80Cs9 took into their speci#cpro"lems and render technical service.

Central 5ootwear !raining Institutes 8C5!Is9 develop footwear designing topromote exports.

2u"+Contract Exchange for Ancillary 0evelopment 82CUs9 register andcreate data"ase of the spare manufacturing&service capacity of 22IH createdata"ase of requirements of large&medium units and match the requirementswith the spare capacity availa"le with small unitsH and arrange @uyer+2eller-eets organise vendor exhi"itions seminar workshops for large+small unitscoordination quality up gradation export promotion etc and facilitate Rowof data on vendor development.

%

9mall 'ndustries evelopment OrganiHation Apr 200


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!he Ma!aras!tra 9tate inancial :orporation )M9:+has "een set up under the V2tate 5inancial Corporations

Act %'%. !he Corporation operates in 2tate of-aharashtra from %( and in 2tate of Goa and Dnion !erritory of 0aman S 0iu since %?.

unctions and O"Iectives

!he main function of -25C is to meet the term loan requirements of smalland medium scale industries for acquisition of #xed assets like land "uildingmachinery and equipments. !he loans are given for setting up new industrialunits as well as for expansion and modernisation of the existing units.

!he o"4ective of the Corporation is to promote more industries in "ackwardand developing areas of -aharashtra Goa and Dnion !erritory of 0aman S0iu.

Organisational set up

-25C is a highly decentralised organisation and has network of oces in allthe districts of -aharashtra and Goa except Gadchiroli. -25C has nineregional oces and twenty "ranch oces.

9ervices endered

• -25C grants term loans upto *s. > lakhs to limited companies andregistered co+operative societies and *s. > lakhs to proprietary andpartnership #rms.

• !he Corporation also #nances pro4ects with large capital outlay 8totalpro4ect cost upto *s. ' crores9 in participation with 2IC6-&A11 India5inancial institutions&Commercial @anks etc. $owever in such casesassistance from -25C is limited to *s. > lakhs.

• !he Corporation provides seed capital assistance mainly to thenewrst generation entrepreneurs who possess necessary skill orpractical experience "ut lack requisite funds to meet gap in the 0E*and&or promoterVs contri"ution. !he seed capital assistance is given to"ridge the gap in expected promoterVs contri"ution. If the requirementof seed capital exceeds *s. ? lakhs the same is covered "y I0@I seedcapital scheme. !he assistance may "e in the form of soft loan or

%

Ma!aras!tra 9tate inance :orporation Apr 200


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equity. !he seed capital assistance is also given for expansionmodernisation&diversi#cation.

In the case of private limited companies it may"e "y way of equity&soft loanor redeema"le cumulative preference shares. :herever Government seed

capital is availa"le through *egional 0evelopment Corporations -25C doesnot grant seed capital.

A/FE was set up on ( Fuly % and centres its activity in the #ght for

respect and safeguard of the speci#cities of the role of young entrepreneurs.

It considers that the high death rate of the companies set up "y young

people is the result of a series of penali=ing circumstances in the initial

stages of the investment. 5or this reason it is necessary that an

entrepreneurial environment "e developed that takes into account the

constraints and also the advantages deriving from the age of the

entrepreneurs and their degree of maturity. !his premise is in A/FEE ?ead%uarters

%

7rite s!ort note)c+ >ational association of 5oung entrepreneurs

)>AE+$Apr 200*


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A/FE hosts in its headquarters in orto a technologically "ased "usiness

incu"ator for young entrepreneurs. Its facilities will "e ocially opened

during this route.

!here are several organisations engaged in conducting entrepreneurshipdevelopment program in India. !he lead in the matter was taken "y the2mallIndustrial 0evelopment 6rganisation 82I069 through its service centres.6therorganisations that have "een actively conducting Entrepreneurship0evelopmentrogrammes are M8a9 2tate @ank of IndiaH8"9 5inancial institutes such as I0@I Entrepreneurial -otivation !rainingcentrein northern M eastern region8c9 Uavier Institute of 2ocial 2ervices *anchi8d9 Industrial Consultancy 6rgani=ations in various states8e9 Centre for Entrepreneurship 0evelopment Ahmeda"ad8f9 2tate 5inancial Corporations8g9 Centre of Entrepreneurship development $u"li8h9 2mall Industries Extension !raining Institute $ydera"ad8i9 /ational 2cience S !echnology Entrepreneurship 0evelopment @oard etc.

A need was felt to evolve an integrated national approach towards trainingprogram forvarious centre

7rite s!ort note

)a+ Entrepreneurs!ip training programmes$Or'ngredients of a training module for entrepreneurs

Apr200*,200C


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=overnment sc!emes and incentives for promotion ofentrepreneurs!ip:orld over micro and small enterprises 8-2Es9 are recogni=ed as an

importantconstituent of the national economies contri"uting signi#cantly toemploymentexpansion and poverty alleviation. *ecogni=ing the importance of micro andsmallenterprises which constitute an important segment of Indian economy interms of theircontri"ution to country'9ED9 EM;OME> =E>EA'O> O=AMME)ME=+Government of India has approved the introduction of a new credit linkedsu"sidyprogramme called rime -inister


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the "ene#ciaries & entrepreneurs in their @ank accounts.O"IectivesI. !o generate employment opportunities in rural as well as ur"an areas ofthecountry through setting up of new self+employment ventures&pro4ects&micro

enterprises.II. !o "ring together widely dispersed traditional artisans& rural and ur"anunemployed youth and give them self+employment opportunities to theextentpossi"le at their place.III. !o provide continuous and sustaina"le employment to a large segment of traditional and prospective artisans and rural and ur"an unemployed youthin thecountry so as to help arrest migration of rural youth to ur"an areas.I,. !o increase the wage earning capacity of artisans and contri"ute toincrease in

the growth rate of rural and ur"an employment.2$ MA@E E8E;OME> A99'9A>:E 9:?EME O M':O/ 9MA;;MA>>(9 and'T of annual fees 8recurring9 8w.e.f. Ist Fune (>>9 paid to G2I 85ormerlyEA/India9 "y 2mall S -icro units for the #rst three years for "ar code.O"IectivesF8i9 !o encourage 2mall S -icro exporters in their e7orts at tapping and0eveloping overseas markets.8ii9 !o increase participation of representatives of small& micro manufacturingEnterprises under -2-E India stall at International !rade 5airs& Exhi"itions.8iii9 !o enhance export from the small& micro manufacturing enterprises8iv9 !o populari=e the adoption of @ar Coding on a large scale.

$ 9:?EME O A99'9A>:E O A'>'>= '>9'


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are development of indigenous entrepreneurship from all walks of life fordevelopingnew micro and small enterprises enlarging the entrepreneurial "ase andencouragingself+employment in rural as well as ur"an areas "y providing training to #rst

generationentrepreneurs and assisting them in setting up of enterprises. !he assistanceshall "eprovided to these training institutes in the form of capital grant forcreation&strengtheningof infrastructure.4$ A'8 =A>?' AA 9c!eme of Kromotion and ?and!olding of Micro and 9mallEnterprisesL !here are still wide spread variations in the success rate in terms of actualsetting up

and successful running of enterprises "y the E0&20&E20 trainedentrepreneurs. Ithas "een o"served that new entrepreneurs generally face diculties in Mavailing full"ene#ts under availa"le schemes of the Governments & #nancial institutionscompletingand complying with various formalities and legal requirements under variouslaws&regulations in selection of appropriate technology tie+up with "uyersand sellersetc. In order to "ridge the gap "etween the aspirations of the potentialentrepreneurs

and the ground realties there is a need to support and nurture the potential#rstgeneration entrepreneurs "y giving them handholding support during theinitial stages of setting up and managing their enterprises.O"Iective !he o"4ective of aIiv =and!i


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enterprise. Dnder *GD-K #nancial assistance would "e provided to theselected leadagencies i.e. @ :A'A; 9 !he 2cheme was launched in 6cto"er (>>> and revised w.e.f. (.>.(>>'. !herevised scheme aims at facilitating !echnology Dpgradation of -icro and2mallEnterprises "y providing %'T capital su"sidy 8%(T prior to (>>'9 oninstitutional #nanceavailed "y them for induction of well esta"lished and improved technology inapprovedsu"+sectors&products. !he admissi"le capital su"sidy under the revised

scheme iscalculated with reference to purchase price of lant and -achinery. -aximumlimit of eligi"le loan for calculation of su"sidy under the revised scheme is also "eenraised *s.?> lakhs to *s. %>> lakh w.e.f. (+>.(>>'. !he scheme has "een continues%>th #veyear plan to %%th #ve year plan. Dnder the scheme approximately ; unitshaveavailed su"sidy of *s. ;%'.(% crore upto August (>>..$ M':O&9MA;; E>E'9E9-:;

O=AMME)M9E-:+6ce of the 0evelopment Commissioner8-2-E9 launched -icro and 2mallEnterprises Cluster 0evelopment rogramme 8-2E+C09 for holisticdevelopment forselected -2Es Clusters through value chain and supply chain managementon cooperative"asis. 0esigned on need assessment the ma4or component of the schemeare !echnology Dpgradation Buality Dpgradation and Certi#cation Credit5acilitation-arketing 2upport including exposure to the glo"al markets and Collective

Capacity@uilding of the cluster units with a view to ena"ling them to ultimatelyoperate ascollectives of their own. Esta"lishment and operation of Common 5acilityCentres8C5Cs9 organi=ed procurement and marketing continuous skill andtechnology

('


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upgradation are the delivera"les of any intervention under -2E+C0.*ecently supportfor infrastructural upgradation for resurgence of the clusters has also "eenincluded inthe -2E+C0.

6"4ectives of -2E+C0) 3ey 2trategy for enhancing productivity&Competitiveness of smallenterprises. !o 5acilitate economies of scale 5or integrated and focused development of -2Es. Interventions for large num"er of units with higher gains at lower cost$ :E' =EE 9:?EME O M':O A> 9MA;;E>E'9E9 !he Credit Guarantee 5und 2cheme for -icro and 2mall Enterprises8CG-2E9 was launched "y the Government of India to make availa"le

collateral+freecredit to the micro and small enterprise sector. @oth the existing and the newenterprises are eligi"le to "e covered under the scheme. !he -inistry of-icro 2malland -edium Enterprises and 2mall Industries 0evelopment @ank of India82I0@I9esta"lished a !rust named Credit Guarantee 5und !rust for -icro and 2mallEnterprises 8CG!-2E9 to implement the Credit Guarantee 5und 2cheme for-icro and2mall Enterprises. !he scheme was formally launched on August ;> (>>>and is

operational with e7ect from %st Fanuary (>>>. !he corpus of CG!-2E is "eingcontri"uted "y the Government and 2I0@I in the ratio of ?)% respectively andhascontri"uted *s.%'?.>' crore to the corpus of the !rust up to -arch ;% (>>.Asannounced in the ackage for -2Es the corpus is to "e raised to *s.('>>crore "y theend of %%th lan. As on -arch ;% (>> %'>>;? proposals from micro andsmallenterprises have "een approved for guarantee cover for aggregate credit of*s.?(?.;?

crore.10$ >A'O>A; A7A 9:?EME !he -icro 2mall S-edium Enterprises 8-2-Es9 in India have seen a vastdevelopment in the last #ve decades. !he -2-Es have registeredtremendous growthas also progress in terms of quality production exports innovation productdevelopment and import su"stitution very much "eyond the expectedo"4ectives of

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setting up -2-Es "y the planners of industrial production "ase in thecountry.Entrepreneurial e7orts have made it possi"le to produce num"er of itemswhichhitherto were imported. In quite a few cases new variants so produced are

havingadditional attri"utes than their original versions and are capa"le of solving amultitude of user pro"lems. !his all has "ecome possi"le owing to the am"itions andvisionary spiritof entrepreneurs of -2-EsO"Iective !he ministry of -icro 2mall and -edium Enterprises with a view torecogni=ingthe e7orts and contri"ution of -2-Es gives /ational Award annually toselected

entrepreneurs and enterprises under the scheme of /ational Award.11$ 9:?EME O 9entrepreneurs. In a period of ' years ; lakh entrepreneurs are to "e"ene#ted in all.

O"IectivesF !he scheme has "een devised to encourage entrepreneurs to run self+employmentventures of -icro or 2mall Enterprises.-oreover this will "e a very important scheme "ringing the entrepreneursuniversitiesand -2-E+0evelopment Institutes 8-2-E+0I9 together.In addition this will create a "ase to entrepreneurs for coming together tosolve theircommon pro"lems a shift from 1o""ying -ode to 5acilitation -ode givinghard

intervention in the form of technology and soft intervention like arrangingworkshopsseminars guidelines to o"tain I26 certi#cation I2I -arks participation in !rade 5airsimplementation of Buality -anagement !ools.

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renewed "ehavioural scientist is the most important quality forentrepreneurialdevelopment. In order to prove that the need for achievement could "einduced heconducted an experiment in colla"oration with the erstwhile 2mall Industries

Extensionand !raining Institute 82IE!9 of $ydera"ad at 3akinada Andhra radesh. Koungpersons were selected and put through rigorous training for a period of threemonths toguide them to set new goals. !he achievement motivation has a positiveimpact upontheir task performance. !he 3akinada experiment could "e treated as animportant"asis for the present+day E0 inputs on "ehavioral aspects.In later stage Ac!ievement Motivation raining )AM+ has "ecome an

integralpart of E0 course curriculum. Institutes like 2I2I /I2IE! 2I06 and !C6scameforward conduct E0s and national level organi=ations like Entrepreneurship0evelopment Institute 8E0I9 of India Ahmeda"ad and /ational Institute forEntrepreneurship and 2mall @usiness programmes. According to a studyconducted "y/IE2@D0 at present as many as odd organi=ations including the statelevelorgani=ations like IE0s&CE0s are organi=ing E0s in the country.O"Iectives of EsF

!he important o"4ectives of Entrepreneurship 0evelopment rogrammes8E0s9 can "estated as follows)a9 Accelerating industrial development "y enlarging the supply ofentrepreneurs"9 0eveloping entrepreneurial qualities and motivating the prospectiveentrepreneurs to achieve the goalc9 Enhancing the growth of small+and medium+scale enterprise sectors whicho7er"etter potential for employment generation and dispersal of industrial unitd9 roviding productive self+employment avenues to a large num"er of

educatedand low educated young men and women coming out of schools and collegese9 Improving performance of small+and medium+scale industries "y thesupply of carefully+selected and trained entrepreneurs and diversifying sources of entrepreneurshipf9 Enterprise development in rural and no+industry areas where local

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entrepreneurship is not really availa"le and entrepreneurs from near"ytowns arenot easily lured?E '>'A> E MOE; !here is a saying that entrepreneurs are the products of nature nature and

culture. 6f course this is very much true in Indian context. Apart from the nature andthe culturethe role of nurture is very much signi#cant for human resource development. !he myththat entrepreneurs are "orn and not made has no longer "een accepted.6rdinarypersons can "e turned into successful entrepreneurs though well+designedtrainingprogrammes conducted "y the Entrepreneurship 0evelopment institutes. !heterm

nurture here implies the training intervention which is a real endeavortowards humanresource development especially entrepreneurial development. !heEntrepreneurial0evelopment rogrammes therefore are "ased upon well+designed andintegratedmodular packages to "ut to the needs of the "udding entrepreneurs. !hetraining levelfollow more or less the same principle in organi=ing Entrepreneurial0evelopmentrogrammes. In the present context E0s are usually conducted for four to

six weeksand the curriculum adopted "y the a"ove institutes for imparting training isalsoapparently uniform.?A9E9 O Es !he E0s normally pass through following three important phases) re+training phase !raining phase ost+training or follow+up phasere-training p!aseF !his phase is the preparatory phase for launching the programmes. It

includes anum"er of activities which are as follows)i9 Identi#cation of operationally+promising area normally a districtii9 2election of a pro4ect leader&course coordinator to coordinate theprogrammeiii9 Arrangement of infrastructural facilities for the programmeiv9 Dndertaking potential industrial survey&environmental scanning foridenti#cation of

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good "usiness opportunitiesv9 lanning the programmes on various fronts such as)a9 romotional campaigns through either with the help of print or electricmedialeaRets posters etc.

"9 Esta"lishing contacts with "usiness personalities /G6s and relatedagencieswhich can contri"ute to the programme "oth directly and indirectlyc9 Getting the application forms printed and making them availa"le atdi7erentcenters along with instructions.d9 5orming selection committee for selecting the traineese9 reparing the "udget o"taining administrative sanctions and organi=ingotheractivities which from a part of E0f9 reparing and #nali=ing the need+"ased inputs in training sylla"us and to

tie uwith guest faculties to impart trainingvi9 Contacting the support agencies like 0ICs 25Cs 2I2I "anks /2IC 0istrict-agistrate etc. to receive support in implementing the programmevii9 6rgani=ing industrial motivational campaigns to mo"ili=e as manynum"er of applications as possi"le.raining p!aseF !raining potential entrepreneurs are providing them properguidancefor setting up enterprise constitutes the cornerstone of E0. -ost of theEntrepreneurship 0evelopment institutes generally conduct training

programmes of ?+weeks duration on full time "asis. !he programmes design in terms ofo"4ectivestraining inputs and their focus is descri"ed.raining !aseF rogramme esignO"Iectives ocus 'nputs-otivation and

reinforcement

of entrepreneurial traits

con#dence "uilding

Entrepreneur @ehavioural inputs

5acilitating decision+making

process to set up a new

venture

Enterpriseesta"lishment @usiness opportunityguidance information

and

pro4ect planning inputs

technical inputs2uccessful and

pro#ta"le

Enterprise

management

-anagement inputs

plant

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operation of enterprise.

Industrial exposure

#rst+hand knowledge of

factory layout "usiness

sites etc

visit&in+plant training

ost-training p!aseF ost+training phase is otherwise known as the phase

of follow+upsupport. 0uring this phase post+training support services are rendered to theparticipants who have successfully completed the Entrepreneurship0evelopmentrogramme 8E09. !his is "ecause of the fact that very often the potentialentrepreneur after undergoing the training confronts a num"er of pro"lemswhileimplementing the action plan for grounding the pro4ect. 2o during this phasethetraining organi=ation helps the entrepreneur in sorting out the pro"lemsthrough

counseling support. A committee is formed consisting of mem"ers generallydraftedfrom the leading "ank of the district 2tate 5inancial Corporation trainingorgani=ationand a"ove all the 0istrict Industries Centre to help the entrepreneurs withthe followingo"4ectives during the follow+up)i9 !o provide a meaningful direction to the trainees in grounding theirenterpriseii9 !o review the progress made "y the trainees in implementation of thepro4ect

iii9 !o review the post+training approachiv9 !o provide escort services to the trainees "y involving #nancialinstitutions andpromotional agencies.Dsually follow+up action meetings are organi=ed thrice a year after thecompletion of training and the following methods are generally used forfollow+up)a9 ostal questionnaire"9 !elephonic follow+upc9 ersonal contact "y the trainerd9 Group meetingsro"lems of EsF !he low level of performance is usually attri"uted to thefollowingpro"lems involved in organi=ing and conducting E0 trainings)a9 2hortage of adequate num"er of speciali=ed and committed organi=ations"9 Insucient trainer motivators to motivate people for undergoing E0s andtoimpart training

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c9 Identi#cation and selection of wrong pro4ectsd9 1ack of entrepreneurial and culturee9 Apathetic attitude of the support agencies like "anks and #nancialinstitutions tosupport entrepreneurs

f9 1ack of forward and "ackward linkagesg9 2election of wrong person for trainingh9 Improper identi#cation of pro4ectsi9 Inadequate counseling support after training 49 1ack of continuous follow+up action or post+training support services forgrounding the pro4ect:riteria for assessment or evaluation of EsF 5ollowing criteria are"eing used "ythe "ehavioral scientists to assess the e7ectiveness of E0s in the country.i9 /ew enterprise creationii9 Employment generation in quanti#a"le terms

iii9 Creation of 4o" opportunities "oth directly and indirectlyiv9 Increase in sales and pro#tv9 Enterprise expansionvi9 Enterprise transformationvii9 Improvement in quality of product or servicesviii9 *epayment of loans

!he government provides protection to the small scale sector through thepolicy of reserving items for exclusive manufacture in the small scale sector. !hereservation policy is anattempt to protect 2-Es from competition from "igcorporations and ?? goods were speci#ed to "e exclusively manufactured "y2-Es 8large corporations were allowed to enter this sector on condition that'>T of their produce would "e exported9. As a result 2-Es dominatedreadymade garments leather goods auto components electrical appliancesand the hand tool industries. 6ver the years the num"er of items reservedfor 2-Es increased and it stood at over >> in %.$owever the A"id$ussain Committee set up "y the Government of India which su"mitted itsreport in Fanuary % o"served that the reservation policy was inconsistent with thecurrent trade reforms which allow free import of a large ma4ority of the goodsand most of the remaining can "e imported under the special Import 1icense. !he num"er of reserved items has therefore "een coming down. At presentonly (> items are in the reserved list. A list of items reserved for exclusivemanufacture in micro and small enterprises sector is as follows

;;

7rite s!ort notes covering past, present and future trends on Feservation olic5 of 9mall 9cale 'ndustries

(>>%


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;ist of 'tems eserved or E(clusive Manufacture "5 Micro and9mall Enterprise9ector );ast revised on 0 ul5, 2010+

Entrepreneur is a key #gure in economic progress. $e is the person whointroduces new things in the economy. $e is considered as the "usinessleader and notas simple owner of capital. $e is a person with telescopic faculty drive andtalent who

perceives "usiness opportunities and promptly sei=es them for exploitation.M$M$$A6!ouri, formerly Executive 0irector /ational Institute for Entrepreneurshipand 2mall@usiness 0evelopment 8/IE2@D09 /ew 0elhi descri"es entrepreneur Jas acharacterwho com"ines innovativeness readiness to take risk sensing opportunitiesidentifyingand mo"ili=ing potential resources concerns for excellence and who ispersistent inachieving the goal.L !o "e successful an entrepreneur should have the

followingcharacteristic features.1$ >eed to ac!ieveF Entrepreneurs have got strong desire to achievehigher goals. !heir inner self motivates their "ehaviour towards high achievement) most of the peopledream of success "ut do not take any action towards achieving thesedreams.

;?

ou friend #ant to "e a successful entrepreneur,#!at tips #ould 5ou give !im#!at are t!edierent t5pes of entrepreneurs

Ma5201,20

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Entrepreneurs with high n+Ach factor act continuously to achieve the goaland maketheir dreams come true. 5or them winning is achievement.2$ 'ndependenceF -ost of the entrepreneurs start on their own "ecausethey dislike to

work for others. !hey prefer to "e their own "oss and want to "e responsi"lefor theirown decisions.$ is6-"earingF Entrepreneurs are the persons who take decisions underuncertaintyand thus they are willing to take risk "ut they never gam"le with the results. !heychoose moderate risk rather than play wild gam"le. !hey thereforeundertake calculatedrisk which is high enough to "e exciting "ut with a fairly reasona"le chanceto win.

4$ ;ocus of controlF According to *otter


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C$ A"ilit5 to Pnd and e(plore opportunitiesF Entrepreneurs are alwaysalert toopportunities. !hey are very much quick to see and gra" opportunities. !heyexhi"itan innovative turn of mind and convert the pro"lems into via"le

opportunities. !heyplan intellectually and anticipate carefully how to achieve their goals inreali=ing anopportunity..$ ?ope of successF $ope of success is a signi#cant quality ofentrepreneurialpersonality. Entrepreneurs set their goals with a hope of success rather thanfear of failure. !his is "ecause they set their goals on the "asis of facts and theira"ility tomaneuver them to their advantage.

$ le(i"ilit5F -ost of the successful entrepreneurs measure the pros andcons of adecision and tend to change if the situation demands. !hey never feelreluctant torevise their decisions. !hey are the persons with open mind without rigidity.10$ Anal5tical a"ilit5 of mindF Entrepreneurs are una7ected "y personallikes anddislikes. !hey stand "eyond these types of pre4udices as they are realistic intheirapproach. At the time of their need they select experts rather than friendsand relatives

to assist them. !hey usually avoid emotional and sensitive attitude towardstheir"usiness or pro"lem.11$ 9ense of ecac5F Entrepreneurs are always oriented towards actionforaccomplishment of their goals. @eing con#dent of their a"ilities they #ndthemselves aspro"lem solvers rather than pro"lem avoiders. !hey chalk out their goals forfuture andmake planning to achieve them.12$ Openness to feed"ac6 and learning from e(perienceF 2uccessful

entrepreneurslike to have immediate feed"ack of their performance. !hey modify theirplans on the"asis of the feed"ack they receive from the environment around them. !heylearn fromtheir experience and never get discouraged having received unfavora"leinformation.

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6n the contrary they are stimulated "y unfavora"le information to involvethemselvessincerely in their own tasks to reach their desired goals.1$ :onfronting uncertaint5F 2uccessful entrepreneurs are alwaysoptimistic and

take every odd as the opportunity. !hey maneuver their environment in sucha way thatthe works get accomplished rationally. !hus they win "y the application oftheirextraordinary insight and skill.14$ 'nterpersonal s6illsF Entrepreneurs are always comforta"le whiledealing withpeople at all levels. !hey interact with raw material suppliers customers"ankers etc..for di7erent activities. As successful entrepreneurs they should "e personswho like

working with others possessing the much needed quality of interpersonalskill to dealwith people.1*$ >eed to inRuence ot!ersF 6nce the entrepreneurs set their goalsthey have toplay the roles of manager too. 5or inRuencing others 8n ower9 a low need toesta"lishemotional relationship 8low n Aliation9 and a high need to discipline one


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1$ 3usiness communication s6illF In order to motivate others in the"usinessentrepreneurs must possess good communication skill. @oth written and oralcommunication skills are necessary for the entrepreneurs for runningenterprise

eciently.20$ elescopic facult5F 2uccessful entrepreneurs always tend to thinkahead. !heyhave got telescopic faculties which make them think for the future. 5utureorientationmakes them quite alert to the changing conditions of the time and they tendto producegoods and commodities as per the changing demands.21$ ;eaders!ipF Entrepreneurs should possess the quality of leadership.1eadershipis the a"ility to exert interpersonal inRuence "y means of communication

towards theachievement of goals. Entrepreneurs as the leaders should provide thenecessaryspark to motivation "y guiding inspiring assisting and directing themem"ers of thegroup for achievement of unity of action e7orts and purpose. $enceentrepreneurs "ytheir own leadership styles and "ehaviour reduce the pro"lems "y properhandling of situations. Good administrative work depends upon e7ective leadership ofthe

entrepreneur.22$ 3usiness planningF lanning implies deciding in advance what whenand how todo a thing. Entrepreneurs should "e equipped with skill and knowledge toprepare their"usiness plan. A successful entrepreneur always follows the principles ofmanagementwhile planning for his "usiness. !he planning can act as a "ridge "etweenthe presentposition and expected future shape of the enterprise. It provides a sense ofvision to

the entrepreneurs to cope with risky and uncertain situation.2$ ecision ma6ingF 0ecision+making skill is a fundamental characteristicof anentrepreneur. !his implies the function of choosing a particular course ofaction atevery stage of creation of an enterprise out of several alternative courses forthe

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purpose of achieving speci#ed goals. $ence decision making is necessary atall timesand mostly at conditions of uncertainty and risk.24$ A"ilit5 to mo"iliHe resourcesF Entrepreneurs must have the a"ility tomarshal all

the inputs to o"tain the end product. !hey have to mo"ili=e -s i.e. -an-oney-aterial -achinery -arket and -ethod e7ectively to reali=e the #nalproduct asentrepreneurship is a function of gap #lling and input completing.2*$ 9elf-conPdenceF Entrepreneurs must have self+con#dence toaccomplish the taske7ectively and eciently. !hey must take decisions on their own in uncertainand riskysituation and should stick to it con#dently even if there occurs initialset"acks.

5pes of Entrepreneur*esearchers who have studied entrepreneurial "ehaviour suggest that thereare di7erent types ofentrepreneurs. Classifying entrepreneurs into variouscategories is a tricky issue. !he taxonomy ofentrepreneurs can "e carried outin various ways. Entrepreneurs can "e classi#ed on various "asis.Clarence0enhof Classi#es entrepreneurs on the "asis of stage of economicdevelopment) some others have classi#ed on the "asis of their functions andcharacteristics. In the initial stages of economic development entrepreneurstend to have less initiative and drive. As development proceeds they"ecome more innovating and enthusiastic. !he various types of

entrepreneurs are classi#ed on certain parameters.2ome important classi#cations are descri"ed "elow)

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1$ On t!e 3asis of Economic evelopmentF Clarence 0anhof classi#edentrepreneurs into four groups on the "asis of economic development.A$ 'nnovating EntrepreneursF !his type of entrepreneurship ischaracteri=ed "y aggressive assem"lage of information and the analysis ofresults deriving from novel com"ination of factors of production.Entrepreneurs falling in this class are generally aggressive inexperimentation and exhi"ited shrewdness in putting attractive possi"ilitiesinto practice. !hey are the entrepreneurs who have creative and innovativeideas of starting a new "usiness. An innovating entrepreneur sees theopportunity for introducing a new technique or a new product or a newmarket. $e may raise money to launch an enterprise assem"le the variousfactors and choose top executives and the set the organi=ation going.2chumpeter


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referred as imitative entrepreneurs. !he imitative entrepreneurs copy oradopt suita"le innovations made "y the innovative entrepreneurs. !hey doesnot innovate the changes himself. !hey only imitates technology innovated"y others. 2uch entrepreneurs are particularly important in developingcourtiers "ecause they contri"ute signi#cantly to the development of such

economies. Imitative entrepreneurs are most suita"le for the developingregions "ecause in such countries people prefer to imitate the technologyknowledge and skill already availa"le in more advanced countries. In highly"ackward countries there is shortage of imitative entrepreneurs also. eoplewho can imitate the technologies and products to the particularconditions prevailing in these countries are needed. 2ometimes there is aneed to ad4ust and adopt the new technologies to their specialconditions.Imitative entrepreneurs help to transform the system with thelimited resources availa"le. $oweverH these entrepreneurs face lesser risksand uncertainty then innovative entrepreneurs. :hile innovativeentrepreneurs are creative imitative entrepreneurs are adoptive.

:$ a"ian EntrepreneurF !he third type is 5a"ian entrepreneur. @y naturethese entrepreneursare shy and la=y. !his type of entrepreneurs have neither will to introducenew changes nor desire to adopt new methods of production innovated "ythe most entrepreneurs. !hey follow the set procedures customs traditionsand religions. !hey are not much interested in taking risk and they try tofollow the footsteps of their predecessors. Dsually they are secondgeneration entrepreneur in a "usiness family enterprise.$ rone EntrepreneurF !he fourth type is 0rone entrepreneurs whorefuse to copy or useopportunities that come on their way. !hey are conventional in their

approach and stick to their set practices products production methods andideas. !hey struggle to survive not to grow. !hey may "e termed as1aggards. In such cases the organi=ation looses market their operations"ecome uneconomical and they may "e pushed out of the market.2$ On t!e 3asis of 5pe of 3usinessF Dnder this category we can classifyentrepreneurs as descri"ed "elow)A$ 3usiness EntrepreneursF !hey are the entrepreneurs who conceive anidea for a new product or service and then create a "usiness to materiali=etheir idea into reality. !hey tap the entire factor of production to develop anew "usiness opportunity. !hey may set up a "ig enterprise or a small scale"usiness. :hen they esta"lish small "usiness units they are called small

"usiness entrepreneurs. In a ma4ority of cases entrepreneurs are found insmall trading and manufacturing "usiness.3$ rading EntrepreneurF !here entrepreneurs undertake trading activitiesand are not concerned with the manufacturing work. !hey identi#espotentiality of their product in markets stimulates demand for their productline among "uyers. !hey may go for "oth domestic and overseas trade. !hese entrepreneurs demonstrated their a"ility in pushing many ideas aheadwhich promoted their "usiness.

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motivated to achieve or prove his excellence in their performance.Accordingto motivation we can classify entrepreneur as).A$ ure EntrepreneurF A pure entrepreneur is the one who is motivated "ypsychologicaleconomical ethical considerations. $e undertakes an entrepreneurial activity

for his personalsatisfaction in work ego or status.3$ 'nduced EntrepreneurF !his type of entrepreneur is one who induced totake up anentrepreneurial task due to the policy reforms of the government thatprovides assistance incentives concessions and other facilities to start aventure. -ost of the small scale entrepreneurs "elong to this category andenter "usiness due to #nancial technical and several other facilities providedto them "y the various agency of Govt. to promote entrepreneurship. !odayimport restrictions and allocation of production quotas to small units haveinduced many people to start a small scale unit.

:$ Motivated EntrepreneurF /ew entrepreneurs are motivated "y thedesire for self+ful#llment. !hey come into "eing "ecause of the possi"ility of making and marketingsome new products for the use of consumers. !hey are motivated throughreward like pro#t.*$ According to =ro#t!F !he industrial units are identi#ed as high growthmedium growth and low growth industries and as such we have WGrowthEntrepreneur< and W2uper Growth Entrepreneur.<A$ =ro#t! EntrepreneurF $e necessarily takes up a high growth industryand chooses an industry which has sustained growth prospects. Growthentrepreneurs have "oth the desire and a"ility to grow as fast as large as

possi"le.3$ 9uper-=ro#t! EntrepreneurF !his category of entrepreneurs is thosewho have shownenormous growth of performance in their venture. !he growth performance isidenti#ed "y the high turnover of sales liquidity of funds and pro#ta"ility.B$ According to Entrepreneurial Activit5F @ased on entrepreneurialactivity entrepreneurs are classi#ed as novice serial and portfolioentrepreneur.A$ >ovice EntrepreneurF A novice is someone who has started his&her #rstentrepreneurial venture. A novice entrepreneur is an individual who has noprior "usiness ownership experience as a "usiness founder inheritor of a

"usiness or a purchaser of a "usiness. It is not similar to early starterH anovice can also "e a '> year old with over (' years of experience in theindustry.3$ A 9erial EntrepreneurF A 2erial Entrepreneur is someone who isdevoted to one venture at atime "ut ultimately starts many. It is the process of starting that excites thestarter. 6nce the "usiness is esta"lished the serial entrepreneur may loseinterest and think of selling and moving on.

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?$ ' Entrepreneurs) I! entrepreneurs are creating a new "usiness platformthat takes themstraight to the top. !hey are con#dent am"itious innovative and acquiredcreativity in the competitive glo"al environment and created a niche of theirself. !hey are the "rave new "unch of entrepreneurs who are raring to take

on the world of information technology.'$ 9ocial EntrepreneurF 2ocial entrepreneur is one who recogni=es the partof society which isstuck and provides new ways to get it unstuck. @e it dedicated e7orts forchild upliftment #ghting for the conservation of Assam


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9mall 'ndustries evelopment 3an6 of 'ndia )9'3'+F !he @ank 82I0@I9 was esta"lished in the year %> as the apex re#nance"ank. !he 2I0@I is operatingdi7erent programmes and schemes through '*egional 6ces and ;; @ranch 6ces. !he #nancial assistance of 2I0@I tothe small scale sector is channeli=ed through the two routes direct andindirect.)a+ 'ndirect AssistanceF

2I0@Ie# 'nitiatives of 9'3'F

!wo 2u"sidiaries vi=. 2I0@I ,enture Capital 1imited and 2I0@I !rusteeCompany Dnited formedto oversee venture capital.

!echnology @ureau for 2mall Enterprise formed to oversee !echnology !ransfer -atch -aking2ervices 5inance 2yndication and 5acilitating Foint ,entures.

?

9'3'orE(plain t!e role of 9'3' in development of

small scale industries

Ma5 2014 Apr

200, 200.,

200C,2002


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2I0@I 5oundation for -icro Credit has "een launched to provide #nancialassistance to the poor and to meet emerging needs of the micro #nancesector especially in rural areas

0ranchisin( M 1 mana(ement %hereby the manufacturer or sole distributor

of trade mar"ed product or ser'ices (i'es the e2clusi'eri(hts of local distribution to independent retailers for their payment and conformance to standardised operatin(

?

7!at are various %uic6-start routes to

entrepreneurs!ip iscuss t!eir relativemerits and de-merits)200,201,2012+or:ompare and contrast t!e relative merits andde-merits of )a+ franc!ising and )"+ancillarising as a %uic6-start route toentrepreneurs!ip$Or7!at is meant "5 franc!ising 7!5 is it saidto "e a gift of t!e 20t! :entur5 to t!e #orldof "usiness Also discuss t!e merits and

demerits of franc!ising as a %uic6 start routeto "usiness$)2010+ranc!ising)2014,200.,200+orAncillariHationOrAncillariHation and EntrepreneursOr7!at are t!e dierent options for t!e gro#t!

of a ne#l5 esta"lis!ed "usiness Mention

#!ic! entrapreneurial competences one must

possess for eac! of t!e option

Or:ompare ranc!ising, Ancillarising &

Ac%uisitioning as 9trat


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procedures!

!he toughest part of "usiness is to gain customer acceptance and trust foryour product.5ranchising is an start+up strategy that minimises this uncertainty from

"usiness venture.5ranchising strategy is adopted "y well esta"lished and visi"le "rands.5ranchising is a special form of licensing which allows the franchisee to sell ahighlypu"licised product or service using the franchiser


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franchisees.'. *perating and Structural "ontrol M !wo pro"lems that manyentrepreneurs havein starting a new venture are maintaining quality controls of the product andservices and esta"lishing e7ective managerial controls. Administrative

controlsusually involve #nancial decisions revolving to cost inventory cash Row andpersonal issues such as criteria for hiringring scheduling and training toensureconsistent service to the customer. !hese controls will usually "e outlined inamanual supplied to the franchisee "y the franchiser.

%dvantages to Franchiser +%s e&pansion strategy used ,yEntrepreneur- !he most o"vious advantage of franchising as a expansion strategy for the

entrepreneur isthat "usiness can "e expanded quickly with little capital. A franchiser canexpand a"usiness nationally and even internationally "y authorising and sellingfranchise in selectedlocations. !he capital necessary for this expansion is much less than itshould "e withoutfranchising. 6perating a franchised "usiness requires fewer employees thana nonMfranchised one. $ead quarters and regional oces can "e slightly modi#edto primarily

support the needs of the franchises."ost %dvantages M !he franchiser can purchase supplies in large quantities and get economiesof scale thatwould not have "een possi"le otherwise. -any franchised "usinessespurchase partsaccessories packaging and raw material in large quantities and then in turnsell them tofranchisees.#ro,lems in Franchising%. !he pro"lem in franchising usually centre on the ina"ility of the franchiser

toprovide service and advertising. :hen promises made in the franchiseagreementare not kept the franchisee may "e left without any support in importantareas.(. !he franchisee may also face a pro"lem when a franchiser fails or is"rought out "yanother company. In some case the franchiser #nds it dicult to #nd quality

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franchisee. oor management can cause individual franchise failure.

Entrapreneurial competences one must possess for ranc!ising as"elo# F

'nformation 9ee6ing )*esearch on how to provide a product orserviceConsults experts for "usiness or technical advice

:ommitment to #or6 contract )Expresses a concern for satisfying thecustomer

%c'uisitionAn acquisition is the purchase of a company or a part of it so that theacquired company iscompletely a"sor"ed and no longer exists as "usiness entity. Entrepreneurcan start S

expand the venture "y acquiring an existing "usiness. %dvantages of %c'uisition –%. Acquired #rm has an esta"lished management and operating practices.(. Entrepreneur gets a well esta"lished customer "ase from the acquired #rm;. Entrepreneur acquires well esta"lished channels and sales structuresuppliersretailers wholesalers manufacturers "y acquiring the #rm.?. Actual cost of acquiring can "e lower than other methods of expansion.'. !he employees of the existing "usiness can "e an important asset S canhelp the"usiness to continue its successful mode.

. 2ince entrepreneur does not have to #nd suppliers channel mem"ersemployees orcustomers more time can "e spent assessing opportunities to expand the"usiness.isadvantages of %c'uisition%. -ost #rms o7ered for acquisition have an erratic marginally successful orevenunpro#ta"le track record. It is important to review the records to assessfuturepotentials.

(. Entrepreneur may assume he can succeed where others have failed. 2elfevaluationis important "efore agreement. Even though the entrepreneur "rings newideas Smanagement qualities the venture may never "e successful for reasons thatare notpossi"le to correct.

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;. :hen "usiness changes hands often key employees also leave. 1oss can"edevastating since value of "usiness is often a reRection of e7orts ofemployees.?. It is possi"le that purchase price is too high

F*.R STE#S *F %"/.ISITI*0I0G3! 4lannin( your approach and tar(etin( the type of business you %ish toac5uire

6! 0indin( a'ailable business to purchase7! 8sin( an appropriate methodolo(y to e'aluate the deal9! Ne(otiatin( the terms and purchase price for the business!

Entrapreneurial competences one must possess for Ac%uistion as"elo# F

9ees and acts on opportunities F1ooks and acts on opportunities

8"usiness education and personal growth9

ro"lem 9olvingF2witches to an alternative statetegy to reach agoal.Generates new ideas or innovative solutions

Assertiveness Ftells others what they have to dodisciplines those failing toperform as expected

Monitoring)ersonally supervises all aspects of a work

:oncern for emplo5ee #elfare)!ake positive action in response to

employee


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(. $elps in generating employment;. $elps in growth of G0?. romotes entrepreneurship#ro,lems )ith %ncillarisation%. 0elay in payments puts ancillary company in "ig trou"le. If the parent

company is"ig 8which is most often the case9 then the ancillary company #nds itdicult totake even any legal action for non payment.

(. :hen parent company revises the speci#cations ancillary units are sometimes notgiven the expected support for adopting the higher technology nor givensucienttime to "ring changes in the technology to match that of parent co.;. *eckless multiplication of suppliers "y the parent company makes the

ancillaryunits operate "elow @E 8@reak even point9. As a result these units incurlosses"ecause of capacity under utilisation.?. Any pro"lems in production or marketing of parent units product reRect onsales of ancillary unit due to its overdependence.

=overnment 'nitiatives to promote Ancillarisation

2haring successful company experiences

!raining on I26 & B2 >>>

Colla"oration on @enchmarking 2ervices

Foint ro4ects for roductivity Improvements

!echnology 0evelopment ro4ects

!rade 0elegations :orldwide & !rade 5airs & Exhi"itions

Glo"al 0issemination of Information

1inkages @uilding & /etworking

2cience S !echnology arks

,endor 0evelopment rogrammes

2u"+contract Exchanges

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!hat is Intrapreneurship5

'

7!o is an 'ntrapreneur 7!at role does an'ntrapreneur pla5 in an organiHation ?o# "est canone sustain and nurture intrepreneurs )O+Or intraprenuerOr

A director of a compan5 #is!es to introduceintrapreneurs!ip in !is organiHationS#!at are t!estrategic action plans t!at !e could introduce)2011+Or7!o is an 'ntrapreneur 7!at "enePts areconferred "5 'ntrapreneuring #it!in anorganiHation 'llustrate 5 our ans#er #it! suita"lee(amples$Or7!5 and !o# organiHations are encouraging

'ntrapreneurs in recent 5ears 7!at are t!e

advantages of 'ntrapreneurs!ip overEntrapreneurs!ip 9upport 5our ans#er #it! a

case$

Or

7!5 is 'ntrapreneurs!ip given so muc! importance

no# a da5s ?o# it can "e developed deli"eratel5

#it!in t!e organiHation 7!at are it main

c!allenges)2014+

Or

7!at is 'ntrapreneurs!ip E(plain t!e role of an

individual and an organiHation to promote t!e

culture of 'ntrapreneurs!ip)2002+

Or'ntrapreneuring lies at t!e !eart of a learningorganiHation do 5ou agree urnis! a road map fornurturing greater entrepreneurial initiatives in a

modern "usiness organiHation$Or'ntrapreneuring lies at t!e !eart of a learningorganiHation :omment upon t!is statement andenumerate t!e steps involved for developingintrapreneurial s6ills in t!e organiHation$

Apr 200C,Apr200B,2004,2

001

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Intrapreneurship is de#ned as entrepreneurship within an existing "usinesssetM up. !hat isto say M Intrapreneurship is corporate entrepreneurship. :hen a corporationindulges inentrepreneurial activities like diversi#cation into new "usinesses it is called

intrapreneurship.Intrapreneur is a manager who focuses on innovation andcreativityH who "rainstormsdreams and puts ideas into pro#ta"le venture "yoperating within the organisationalenvironment.It is a tool for capitali=ing the entrepreneurial spirit ofemployees in the organisation. Itgives managers the freedom to try new ideas "y employing #rm


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management such resources will not "e availa"le for any intrapreneurialventure.8c9 "on4dence $uilding M :hile intrapreneurship leads to rich rewards forthecompany there is very little direct "ene#t to the employees. -ost tend to

work as intrapreneur to give expression to their creative =eal. 6n top of thatthere is always a fair amount of risk of failure in such ventures. !hereforeunless the employees have full support of the higher management they willnot stick their neck out in such a venture.(. "reate Frame)ork for Intrapreneurship M 6nce cultural changes have"eenlaunched which is a long slow process lasting approximately (M; yearsparallely aframework needs to "e developed as to how the ideas will "e processed andexecuted how they will "e funded how they will "e monitored and how willthe

losses whenever they occur will "e accounted.;. Identi4cation of Intrapreneurial Leaders M /ot every one hasentrepreneurialspirit. !herefore people with entrepreneurial characteristic need to "eidenti#edselected and trained. Along with training a mentor&sponsor system is alsoneeded to"e developed. !hese mentors from the top management will give the neededguidance and support to the intrapreneurial leaders?. Identify the general areas of Intrapreneurial Thrust M Everycompany has a

priority area where it would like to move forward. 2uch areas need to "eidenti#edand noti#ed to employees. An I! company would rarely want to foray intohardcoremanufacturing sector even if the prospects are quite promising.'. Improve Responsiveness and Fle&i,ility M Intrapreneurial spirit cannot sustain theusual snail paced and ultra cautious "ureaucratic decision making process incase of capital investments that is typical of ordinary organisations. Dse oftechnology to

speedM up decision making process and induce Rexi"ility in the process isrequired.. Modifying *rganisational Structure M A fat hierarchical organisationalstructure isinherently sluggish in decision making 8-any cooks spoil the "roth9. A Ratorganisational structure is more suited to the Intrapreneurship. !hereforecertain

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modi#cations to the organisational structure may "e needed. $owever It iseasiersaid than done.. #u,licity of Ideas M /ew ideas should "e well pu"licised. :hile suchpu"licity is a

morale "ooster for the author of the idea and therefore encourages morepeople tocome forward with ideas pu"lished ideas get scrutinised and value added "yotherpeople.. Tapping "ustomers $ase for 0e) Ideas M Customers are the richestsource of newideas. ;- Corporation holding over lakh patents claims that almost >Tof newideas have "een contri"uted "y the customers themselves.. "reate Strong Support Structure for Intrapreneurship M !his is

particularlyimportant since most people have short term focus on quarterly half yearlyandyearly num"ers. Intrapreneurial ventures are long term pro4ects andtherefore mayget overlooked for funding and other support. 2imilarly appraisal of theintrapreneurs may get adversely a7ected since there is nothing concrete toshowquarter "y quarter. 2uch a mishap is to "e strongly guarded against "ecauseif sucha thing does happen it would kill the initiative among the employees.

%>. "reate a Strong Re)ard System Linked to #erformance of theIntrapreneurial 2enture M /otwithstanding all the 6@ theories to the contrary nothing worksasfast and as e7ectively as tangi"le&material rewards system to motivate mostpeopleto put their "est feet forward.%%. "reate an Evaluation System M 2ome Intrapreneurial venture are"ound to fail forvarious reasons including change in external environment. Also someventures are

likely to astonish with their success even the most optimistic supporters. !hereforeregular evaluation of the ventures in hand is necessary. romising venturesmightneed further thrust or scaling up in si=e while unsuccessful need to "e woundup.

3enePts of 'ntrapreneurs!ip

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• Intrapreneurial ideas o7er a way to "uild onto or improve the corp."usiness

• Capital for the idea is easy to come from internal sources within acorp. identity

• !he esta"lished corporate image helps to "oost the chances of

success of an intrapreneur idea.• Corporates o7er economies of scale in marketing distri"ution and

service.• Corporates o7er the unique advantage of multidisciplinary teamwork.

!he intrapreneur retains the 4o" security "ut as well en4oys thefreedom and prosperity.

:ase /e(ample of intrapreneur

an intrapreneur is an employee who creates new products services and

systems and doesn


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8ii9 !o supply machinery on hire purchase system.8iii9 !o provide assistance for marketing of the products of small+scaleindustries.8iv9 !o construct industrial estates&sheds providing allied infrastructurefacilities

and their maintenance.8v9 !o extend seed capital assistance on "ehalf of the 2tate government andprovide management assistance to production units.

Entrepreneurship is and continues to "e important to every sector in Indiaand in other glo"al economies.Entrepreneurship contri"utes to economic and

social development of a country. 6perating an enterprisewealth creationmaking innovative decisions or managing an organi=ation all have the thrillof risk challenges and pro#ta"le opportunities.Entrepreneurial #rms are not 4ust money+making ventures for their promot+ers. !he positive impact of entrepreneurial #rms is seen throughout the economy and society. A vastma4ority of this high+impact .#rms are fast growing companies. 0avid @irchhas di7erentiated these #rms "y calling them ga=elles. $e de#nes a ga=elleas a "usiness esta"lishment with at least (> per cent growth every year.Entrepreneurship has many functions to perform and roles to play in everytype of economy. Entrepreneurship is the life "lood of any economy and itapplies more to a developing economy like India. It inRuences a num"er of

areas such as innovation 4o" creation career alternatives etc. !hecontri"ution of entrepreneurship lies in the following areas)

1$ 'nnovationF Innovating is a process of creating changing experimentingtransforming andrevolutioni=ing. Innovation is one of the key distinguishing characteristics ofentrepreneurial activity. !he passionate drive and intense hunger ofentrepreneurs to forge new directionsproducts and processes and to take risks set in motion a series of decisions

that lead to the innovations that are important for economic vitality. :ithoutthese new ideas economic technological and social progress would "e slowindeed. !he Jcreative destructionL process of innovating leads totechnological changes and employment growth. Entrepreneurial #rms act asthese Jagents of changeL "y providing an essential source of new and uniqueideas that might otherwise go.2$ o" :reationF :e know that 4o" creation is vital to the overall long+termeconomic health of

;

'magine t!at 5ou a professor of entrepreneurs!ipmanagement and t!at 5ou !ave to address M3Astudents on !e importance of entrepreneurs!ip$?o# #ill 5ou go a"out t!is tas6

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earn a good living. 6wning a "usiness provides entrepreneurs theindependence and the opportunity to achieve what is important to them.C$ Entrepreneurs!ip 9erve 9mall Mar6ets 7it! >e# ec!nolog5F1arge #rms with their crippling overheads do not #nd it pro#ta"le to servesmall populations. !his is where small entrepreneurial #rms serve an

invalua"le role "y providing speciali=ed products to niche customers.Entrepreneurial #rms are usually faster to come to the market with radicalnew technologies. Dltimately this will lead to a "etter standard of living forthe whole society..$ Entrepreneurs!ip rovides Opportunit5 to eac! our ullotential and eap 'mpressiveroPtF !oo many people #nd .their work "oring unchallenging andunexciting "ut not entrepreneurs. !o them there is little di7erence "etweenwork and playH the two are synonymous. Entrepreneurs< "usinesses "ecometheir instruments for self+expression and self+actuali=ation. !hey know thatthe only "oundaries on their success are those imposed "y their own

creativity enthusiasm and vision. Although money is not the primary forcedriving most entrepreneurs the pro#ts their "usinesses can earn are animportant motivating factor in their decisions to launch companies. -ostentrepreneurs never "ecome super+rich) "ut many of them do "ecome quitewealthy.$ Ot!er :ontri"utionF

Entrepreneurship in small "usinesses helps in distri"ution of products oflarge "usiness. !hey thus support the large "usiness houses.

It o7ers "usiness avenues to women and minorities. :omen andminorities are allowed the "ene#tof #nancial independence and a chance to exhi"it the a"ility to manage

"usiness enterprises. 0ispersal of economic activities to di7erent sectors of economy and

identifying new avenues ofgrowth. Improvement of the standard of living of di7erent weaker sections in the

society. @ring socio political change in the society. 0evelop technological know+how. Improve culture of "usiness and expand commercial activities. Entrepreneurship acts as a change agent to meet the requirements of the

changing markets and customer preferences. 0evelop a culture of achievement orientation.

It helps in "ringing a"out change and development of the civili=ationthrough change in trade comment "e and industriali=ation.

It arouses the need for achievement in individuals which "rings a"out achange in the economic scenario through economic development andgrowth.

It results in exploitation of economy


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Creativity is showing imagination S originality. It is "asically an innovationgenerated "yentrepreneur in "usiness to solve or generate ideas to serve the market"etter. Creativity candecline due to age education idleness perceptual cultural emotional Sorganisationalfactors. Creative thinking is "asically a process of searching screening Sconnectingthoughts. Creativity can "e used for development of "etter "usiness ideas in

terms of product process market development aspects.

!he various creativity oriented pro"lem solving S idea generating techniquesare asfollows M

@rainstorming !he #rst technique "rainstorming is pro"a"ly the most well known andwidely used for "oth creative pro"lem solving and idea generation. Increative pro"lem solving "rainstorming can generate ideas a"out a pro"lem

within a limited time frame through the spontaneous contri"utions ofparticipants. A good "rainstorming session starts with a pro"lem statementthat is neither too "road 8which would diversify ideas too greatly so thatnothing spe+ci#c would emerge9 nor too narrow 8which would tend to con#neresponses9.V 6nce the pro"lem statement is prepared to %( individuals areselected to participate. !o avoid inhi"iting responses no group mem"ershould "e a recogni=ed expert in the #eld of the pro"lem. All ideas no matterhow illogical must "e recorded with participants prohi"ited from critici=ingor evaluating during the "rainstorming session.

*everse @rainstorming

Re'erse brainstormin( is similar to "rainstorming except that criticism isallowed. In fact the technique is "ased on #nding fault "y asking thequestion YIn how many ways can this idea failNY 2ince the focus is on thenegative aspects of a product service or idea care must "e taken tomaintain the groupVs morale. *everseZ "rainstorming can "e e7ectively used"efore other creative techniques to stimulate innovative thinking. !heprocess usually involves the identi#cation of everything wrong with an ideafollowed "y a discussion of ways to overcome

7!at is creativit5 ?o# can one nurse and promoteit eectivel5 in entrepreneurial organiHations so asto optimiHe resultsOr:reativit5 and its role in developing "usiness

ideas)2001+

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these pro"lems.

@rainwriting@rainwriting is a form of written "rainstorming. It was created "y @ernd

*olir"aa at the end of the %>s under the name -ethod ;' and di7ersfrom classical "rainstorming "y giving participants more time to think than in"rainstorming sessions where the ideas are expressed spontaneously.@rainwriting is silent written generation of ideas "y group of people. !heparticipants write their ideas ;%% special forms or cards that circulate withinthe group which usually consists of six mem"ers. Each group mem"ergenerates and writes down three ideas during a #ve+minute period. !he formis passed on the ad4acent person who writes down. three new ideas and soon until each form has passed all participants. A leader monitors the timeintervals and can reduce or lengthen the time given to participantsaccording to the needs of the group. In a variation of this idea+generation

method the participants are located at their own workplaces and the sheetsare rotated "y e+mail in which case the time interval can "e longer.

Gordon -ethod !he :ordon method/ unlike many other creativepro"lem+solving techniques "egins with groupthinkers not knowing the exact nature of thepro"lem. !his ensures that the solution is notclouded "y preconceived ideas and "ehavioralpatterns. !he

entrepreneur starts "y mentioning a generalconcept associated with the pro"lem. !he groupresponds "y ex+pressing a num"er of ideas. !hen aconcept is developed followed "y related conceptsthrough guidance "y the entrepreneur. !he actualpro"lem is then revealed ena"ling the group tomake suggestions for implementation or re#nementof the #nal solution

Checklist -ethod

In the chec"list method/ a new idea is developedthrough a list of related issues or suggestions !heentrepreneur can use the list of questions orstatements to guide the direction of developingentirely new ideas or concentrating un speci#cYideaY areas. !heChecklist may take any form and "e of thelength.one general checklist is as follows


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5ree Association6ne of the simplest yet most e7ective methods that entrepreneurs can useto generate

new ideas is free association! !his technique is helpful in developing anentirely new slant to a pro"lem. 5irst a word or phrase related to thepro"lem is written down then another and another with each new wordattempting to add something new to the ongoing thought processes there"ycreating a chain of ideas ending with a new product idea emerging

5orced *elationships0aired relationships/ as the name implies is the process of forcingrelationships among some product com"inations. It is a technique that asksquestions a"out o"4ects or ideas in an e7ort to develop a new idea. !he new

com"ination and eventual con+cept is developed through a #ve+step process)%. Isolate the elements of the pro"lem.(. 5ind the relationships "etween these elements.;. *ecord the relationships in an orderly form.?. Analy=e the resulting relationships to #nd ideas or patterns.'. 0evelop new ideas from these patterns

Collective /ote"ook -ethod

In the collecti'e noteboo" method/ a small note"ook that easily #ts in apocket[con taining a statement of the pro"lem "lank pages and anypertinent "ackground data[is distri"uted. articipants consider the pro"lemand its possi"le solutions recording as at least once "ut prefera"ly threetimes a day. At the end of a month a list of the "est ideas is developedalong with any suggestions. !his technique can also "e used with a group of in+dividuals who record their ideas giving their note"ooks to a centralcoordinator who summari=es all the ma+terial. !he summary "ecomes thetopic of a #nal creative focus group discussion "y

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