Navdeep-AMA Centre for Entrepreneurship Development

Diploma in

ENTREPRENEURSHIP DEVELOPMENT
Minimum Qualification Duration Medium of Instruction Class days Last Date for submission of Application Admission Test Admission Test Result Personal Interviews Commencement : : : : Graduation 6 Months (January - June 2012) English Thursday, Friday, Saturday (7.00 8.30 pm) Saturday, 24th December 2011 10 a.m. on Sunday, 1st January 2012 Tuesday, 10th January 2012 (Will be announced later on) Friday, January 27, 2012

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Torrent-AMA Management Centre, Core-AMA Management House, ATIRA Campus, Dr. V.S. Marg, Ahmedabad 380 015 E-mail: ama@amaindia.org

INTRODUCTION Entrepreneurship development is the key to rapid and sustainable economic development of a country. It is closely linked with creativity, innovation and vision. There used to be people who believed in the famous adage Entrepreneurs are born and not made. This belief is a matter of past. Today, entrepreneurship development is seen as one of the important forces that could transform India into a world leader. Secondly, we come across a number of examples of successful entrepreneurial ventures like Tata Group, Birla Group, RPG, Hero Group, Reliance, and Infosys. Starting a business and making it a success requires vision, clarity and commitment. Today ideas and money are not constraints. But having the ability to recognize opportunities and know-how to start a sustainable business is. This leads to many questions. How is it that only some people can see the business opportunity? Why only a few can convert their business idea into a story of sustainability and growth? What are the reasons behind the entrepreneurial failures? This programme is an effort to provide answers to the above questions. And therefore it provides an understanding of the process of entrepreneurship development. Moreover the programme also provides guidance to such persons in formation and management of their entrepreneurial ventures. PROGRAMME OBJECTIVES Broadly speaking, the programme aims to provide a direction and action - orientation to the individuals wanting to set up a business enterprise or those who wish to improve performance of their on-going business enterprise. The specific objectives are: A. Helping participants in development of entrepreneurial qualities and the mind-set. B. Providing a set of conceptual frameworks as well as tools to (a) identify business opportunities, (b) build a business idea and (c) transform the idea into a sustainable business. C. Developing the personality, soft skills and interpersonal skills of participants; the potential entrepreneurs. D. Assisting the participants in selecting form of a business enterprise and in applying creativity and innovations in starting and managing a business. E. Understanding business management concepts in the context of marketing, finance, operations, human behaviour, corporate management, legal framework and other relevant aspects. MODULE I : ENTREPRENEURIAL QUALITIES A. Introduction and Entrepreneurship Development Process ( 8 Sessions ) (a) Concept of Entrepreneurship Qualities required for becoming a successful entrepreneur Factors influencing Entrepreneurship - Roles of an Entrepreneur Functions of an entrepreneur Forms of Entrepreneurship Barriers to entrepreneurship Economic Non-economic Personal. (b) Stages in entrepreneurial development process Critical factors for starting a new business Recent trends and emerging issues in global, Indian and regional context. (c) Entrepreneurial personality Understanding the psyche Exploring the individual personality - Goal setting and Team building Role of motivation and individual characteristics in entrepreneurial activity. (d) Social Entrepreneurship as a means of social and economic development Rural Entrepreneurship Challenges faced.

B. Achievement Motivation and Creativity ( 7 Sessions ) David McClellands Achievement Motivation Characteristics of people with strong motivation Classification of necessity of achievements Elements of Achievement Motivation Motives for motivation Development of achievement motivation - Relationship of achievement motivation to entrepreneurial behavior Achievement thinking Identifying techniques and development of action plan to increase the achievement motivation in entrepreneurs. Creativity process Components of creative performance Intrinsic motivation Task skills Creative thinking. C. Opportunity Identification ( 7 Sessions ) (a) Individual characteristics that lead to opportunity recognition Human capital Social capital Social skills. Neo-classical Equilibrium theory, Search theory and Austrian theory (b) Identifying a need Types of opportunities Causes of opportunities - Defining the opportunity Searching the opportunities and alternatives available Strategies for opportunity exploitation Opportunities in specific sectors - Recognizing an innovative opportunity (Early Lead) - Risk management - Final selection of the opportunity. (c) Factors affecting the opportunity recognition Prior knowledge, experience, social networks, cognitive and behavioral factors - perception process problem solving process task process-belief efficacy track record motivation and desirability. (d) Idea generation - What is a good business idea Sources Techniques for generation - Screening Final selection. MODULE II : ENTERPRISE FORMATION A. Project Planning ( 9 Sessions ) (a) Feasibility Study and Project Report: Economic analysis Technical feasibility - Investment analysis Financial analysis - Market and competition analysis - Commercial feasibility - Human resource need Organization structure Raw material and technology Policies and regulation Sustainability of product/ service to market requirements - Legal framework - Formation issues Different forms of business organization Tax implications and investment consequences of each form - Registration formalities. Description of business and promoters Business objectives and strategies Description of product/service Sales forecasting Marketing strategies Infrastructure issues Plant size Total project cost Financial structure Expected income Time for completion of project.- Precautions in preparing a project report. B. Entrepreneurial Support System ( 3 Sessions ) District Industry Centres Commercial Banks State Financial Corporations Small Industries Services Institutes SIDBI NABARD NSIC ITI Polytechnics - Other relevant institutions/organizations Dealing with these institutions. C. Project Execution ( 5 Sessions ) (a) Project implementation strategy (b) Incentives to start a business in rural and backward areas (c) Considering technical assistance Identifying need for consultants Selection of consultants Taking work from consultants. (d) Crisis management Ethics for entrepreneurs Environment issues.

MODULE III : MANAGING THE ENTERPRISE A. Strategic Planning ( 4 Sessions ) Process of formulating and executing strategy - Defining and analyzing business environment - Strategic objectives - Strategic decision making - Five Strategies Low cost - Differentiation Cost Focused strategiesFacing global competition. Developing the vision, mission, policy, philosophy, values and goals Functional strategies - Monitoring and control. B. Managing Human Resources ( 3 Sessions ) Recruitment and Selection Leadership - Creating an efficient organizational culture Employment issues Team building Managing change Communication. C. Marketing Management ( 3 Sessions ) Product concept testing Developing product/service Target market Test marketing - Positioning and marketing the product to increase awareness Customer relationship management Dealing with competition Export issues. D. Production and Quality Management ( 3 Sessions ) Purchase planning Importing technology, machinery and raw materials Inventory management Production plan and scheduling Production control Quality control Determining cost, income and calculation of profit/ loss. E. Financial Management ( 6 Sessions ) Financial accounting systems Costing for decision making Financial management Capital investment decisions and asset management - Working capital management Managing profitability and sustainability Managing the cash flow - Budgeting Management control systems. F. Legal Aspects ( 2 Sessions ) Constitution of India Legal system in the country Mercantile laws Company law - IPR and its implications. Weightage: (A) Attendance 10% (Min. 80%, attendance is required for award of Diploma). (B) Examinations 40 % (C) Project Work 50% Faculty : A team of expert faculty from AMA will conduct the programme. Fee: Rs. 14,500/- (Service Tax inclusive) Ahmedabad Management Association AMA Complex, Dr. Vikram Sarabhai Marg, Vastrapur, Ahmedabad 380 015. Phone:079-26308601-6, 32512847 Fax: 079-26305692 E-mail: amadip_ad1@yahoo.co.in Website: www.amaindia.org