Entrepreneurship, namely the importance of generating ideas for an enterprise, how to obtain ideas, identifying the appropriate trade, factors to consider in selecting a business, factors to consider in deciding to initiate an enterprise, and the functions of an enterprise.
The details of the topics discussed during the session are as follows:
1. Importance of Getting Ideas for an Enterprise
- Basic ideas are required in all cases to perform any work successfully.
- One should acquire the basic concepts of entrepreneurship before getting involved in running an enterprise.
- This knowledge helps an entrepreneur to run the enterprise smoothly and explore the possibility of taking new initiatives.
- It also aids in correct decision-making.
2. How to Get Ideas
- Consult with those who are currently in the business.
- Observe other enterprises to identify problems and think about possible solutions.
- Discuss with friends and neighbors.
- Get ideas from the existing available merchandise in the market.
3. Identifying the Appropriate Trade
- Be selective in identifying one's trade.
- Select according to the ability and interest of the entrepreneur.
- Decide only after obtaining enough relevant information about a particular trade or business. It will help to:
• run the business smoothly
• avoid loss from major mistakes
4. Factors to Consider in Selecting a Business
- Possibilities of success
- What risks are involved
- Profitability
- Attractiveness
5. Factors to Consider when Deciding about Initiating an Enterprise
- Availability of experienced and knowledgeable persons to consult with
- Mobilization of sufficient capital
- Adequate demand for the products/goods in the market
- Facility for marketing
- Facility for storage of goods
- Availability of raw materials
- Ability to get support from the Government
6. Functions of an Enterprise
- Preparing a business plan
- Surveying the market
- Mobilizing capital
- Analyzing costs
- Pricing goods
- Marketing products
- Keeping accounts
- Identifying risk factors
- Looking for ways to become self-reliant
From India, Gurgaon
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9The details of the topics discussed during the session are as follows:
1. Importance of Getting Ideas for an Enterprise
- Basic ideas are required in all cases to perform any work successfully.
- One should acquire the basic concepts of entrepreneurship before getting involved in running an enterprise.
- This knowledge helps an entrepreneur to run the enterprise smoothly and explore the possibility of taking new initiatives.
- It also aids in correct decision-making.
2. How to Get Ideas
- Consult with those who are currently in the business.
- Observe other enterprises to identify problems and think about possible solutions.
- Discuss with friends and neighbors.
- Get ideas from the existing available merchandise in the market.
3. Identifying the Appropriate Trade
- Be selective in identifying one's trade.
- Select according to the ability and interest of the entrepreneur.
- Decide only after obtaining enough relevant information about a particular trade or business. It will help to:
• run the business smoothly
• avoid loss from major mistakes
4. Factors to Consider in Selecting a Business
- Possibilities of success
- What risks are involved
- Profitability
- Attractiveness
5. Factors to Consider when Deciding about Initiating an Enterprise
- Availability of experienced and knowledgeable persons to consult with
- Mobilization of sufficient capital
- Adequate demand for the products/goods in the market
- Facility for marketing
- Facility for storage of goods
- Availability of raw materials
- Ability to get support from the Government
6. Functions of an Enterprise
- Preparing a business plan
- Surveying the market
- Mobilizing capital
- Analyzing costs
- Pricing goods
- Marketing products
- Keeping accounts
- Identifying risk factors
- Looking for ways to become self-reliant
From India, Gurgaon
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