Entrepreneurial Development Programme (EDPs)

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Entrepreneurial Development Programme (EDPs)

Meaning of Entrepreneurial Development Programme (EDPs)

It is often remarked that entrepreneurs are born not made. He empirical studies have proved that entrepreneurs are immediately born but are also made. Yes, they are made by persistent effort through well planned and executed entrepreneurial development programmes.

Industrial development is not possible by providing technical financial, managerial assistance and other infrastructural facilities alone to the entrepreneurs. It has been realized that capabilities of the entrepreneurs should be enhanced through education and training so that they could better organize and manage their enterprises. Entrepreneurial development programmes are primarily designed to fill this void (gap).

Then an entrepreneurial development programme is a process to help the entrepreneur in strengthening and fulfilling his motive by acquiring skills and capabilities to promote and manage his enterprise efficiently and effectively.

Objectives of EDPs

Expert group constituted by the National Institute for Entrepreneurship and Small Business Development (NIESBUD). Now Delhi suggested the following objectives which will help an entrepreneur in:

  • Developing and strengthening entrepreneurial quality motivation;
  • Analyzing environment related to small scale industry and small business;
  • Selecting project/product;
  • Formulating project;
  • Understanding the process and procedure for setting up of small scale enterprises.
  • Knowing and influencing the source of help/support needed for launching its enterprise.
  • Acquiring the basic management skills.
  • Knowing the pros and cons of being an entrepreneur; and
  • Acquainting and appreciating the needed social responsibility/ entrepreneurial discipline.

Role of EDPs / Importance of EDPs

EDPs are also helpful in the following ways:

  1. Enhancing entrepreneurial qualities :

    As pointed out above the most important role of EDPs is to enhance the qualities of an entrepreneur on that he can successfully run his enterprise. EDPs through training, education, experiment and orientation programmes tend to develop or enhance the entrepreneurial qualities.

  2. Strengthening and fulfilling motivational needs :

    EDPs enhance motivation among entrepreneurs through planned publicity of success stories of other entrepreneurs and through cultivating among them reading habits and observation skills. An entrepreneur is motivated to achieve or excel others. He is also motivated to influence others by his achievements to satisfy his ego. This is done through achievement motivation training.

  3. Enhances capacity to search and exploit new business opportunities :

    New business opportunities have to be searched and exploited, these will not come automatically. EDPs highlight potential of available opportunities to the entrepreneurs and encourage them to grab them and exploit them. The entrepreneurs are guided to select a suitable project, appraise it, and mobilize the resources to start the enterprise.

  4. Helps in selecting project and product :

    EDP helps an entrepreneur to select a suitable project suiting his educational attainments, resources and aptitude. It helps him in evaluating the various projects and products and choosing the project and products which will give him maximum profits and which have good scope for further development in future.

  5. Helps in formulating projects :

    EDP helps an entrepreneur in formulating project by providing the entrepreneur necessary technical guidance and support. EDP helps him in formulating viable project within his means. It gives them necessary information regarding infrastructural facilities, machinery and equipment, their sources of supply along with addresses. Information regarding other inputs such as raw materials labour, land and building, paper, methods of production, testing and quality control is also made available.

  6. Assists in setting up of the enterprise :

    EDP helps an entrepreneur in setting up his enterprise. It is done through various support services which provide funds, machinery and equipment, scarce raw materials and infrastructural facilities such as land/shed, power etc.

  7. Enhancing organizing and managerial abilities :

    EDPs help the entrepreneurs to enhance their organizing and managerial capabilities to run their enterprises successfully. This is done by organizing educational, management training and orientation programmes. Specialized agencies such as the National Institute for Entrepreneurship and Small Business Development (NIESBD) New Delhi and Entrepreneurship Development Institute of India (EDIT). Ahmedabad are engaged in organizing entrepreneurial development programme NIESBD is an apex body responsible for co-ordinating and supervising the activities of different agencies engaged in entrepreneurial development EDII is an all India body set up by public financial institutions and the Gujarat Government. It is continuously organizing comprehensive entrepreneurial development programmes.

  8. Helps in knowing the pros and cone of being an entrepreneur :

    An entrepreneur should know the pros and cons of being an entrepreneur so that he can take a decision as to whether or not he would like to become an entrepreneur. It is particularly essential for an executive who wants to take a decision whether to stick to his job or to quit it to start his own enterprise. Again, an entrepreneur has to properly assess the risk involved in a venture. He should take only a calculated and moderate risk. EDP guides an entrepreneur to assess the pros and cone of being an entrepreneur so that he can take a correct decision lost he should not repent later on if he in not successful in his venture.

  9. Helps in getting acquainted and in appreciating needed social responsibility :

    An entrepreneur owes social responsibility towards the society. Earning profit cannot be the sole objective of an entrepreneur. He should acquaint himself with his social responsibilities towards his consumers, employees, Government, tax authorities and in particular with regard to environment protection, etc. Not only he should appreciate them but also discharge them honestly. EDP helps him in this process in identifying his social responsibilities.

  10. Helps in Achieving Entrepreneurial Discipline :

    Entrepreneurs also own a responsibility towards the society to observe certain discipline. For example he should discharge his liabilities with regard to the following:

  1. Payment of taxes
  2. Observe environmental laws
  3. Maintain ecology balance
  4. Regard dignity of labour.

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