Home | Darpan | Volume 4 | Issue 4 Oct-Dec 2011 | Entrepreneurship Development Cell (EDC) Report of 2011

Entrepreneurship Development Cell (EDC) Report of 2011

By
Font size: Decrease font Enlarge font

May 10, 2011-Nov 30, 2011

 

Pioneer Institute of Professional Studies started Entrepreneurship Development Cell (EDC) with the support of AICTE, New Delhi on May 10, 2011. The Cell was inaugurated by Shri P.C. Jain, Chairman, Governing Body of Pioneer Institute.

In order to make the effective utilization of facilities and expertise available in the parent Institute, Sourcing of expertise and facilities from other institutions in the region and to Guide the EDC to work effectively and efficiently, The Institute constituted an Advisory Board as per the guidelines of AICTE, New Delhi. First meeting of EDC Advisory Board was held on 09/07/2011.  In the meeting various issues related to efficiently run EDC and generate more entrepreneurs were discussed.

Under EDC, Entrepreneurship Awareness Program (EAP) was conducted for the students of MBA program at Pioneer Institute during May 13-15, 2011.

The program was conducted by for Three Days by CA Dr. P.K. Jain, who is a practicing entrepreneur with educational background in Commerce and Management. 

He said that with a view to expose students regarding being Entrepreneurship as a career, the implementing agency is an educational institution and a professional body specializing in entrepreneurship development. 

The program, of 3 days duration, was conducted in the premises of an academic institution and aimed at creating awareness among students about various facets of entrepreneurship while highlighting the merits of pursuing such a career option. In each EAP, 85 students were exposed to different aspects of entrepreneurship, including opportunity guidance, services offered by agencies of support system etc. 

Program Objective: To create awareness among students of Management about various facets of entrepreneurship as a career option as also to highlight the merits of pursuing such an option. 

The following topics were covered in EAP

Day Morning Session Morning Session Afternoon Session  Afternoon Session 
  Session I Session II Session III Session IV
1 Inauguration- Program  Objective, Entrepreneurship (general concepts only) Historical background-Indian values &  Entrepreneur ship and the present scenario Identification of opportunities for entrepreneurs Mechanism of product selection and technology-assistance from R&D labs and others on choice of technology etc
2 How to start a  unit (General concept about the  Govt. formalities, rules & regulation,  location, and different aspect of an industrial venture.) Tech.  & commercial Aspects of Small Scale Industry (General concept only) Financial aspects of SSI unit including salient features of a project report Support and financial assistance from Govt. agencies, banks, financial institutions,  and others-securities demanded banks etc
3 Creativity and business-  the man behind the venture   Communication skills               ( interacting with people)  for better results Lectures by practicing entrepreneur's success stories- common problems faced by entrepreneurs Discussion with participants for their reactions about the camp,( Including  factory visit)

 

EXPERT TALKS

SESSION I: DR. PAWAN PATNI

On June 18 2011, Dr. Pawan Patni, Director and Expert on Organizational Behavior and Human Resource and Ex Banker gave an Expert Lecture. The session was attended by 67 students of MBA. He highlighted some of the vital characteristics of a successful Entrepreneur.

 

Do what you enjoy

Take what you do seriously

Plan everything

Manage money wisely

Ask for the sale

Remember it's all about the customer

Project a positive business image

Get to know your customers

Build a top-notch business team.

Become known as an expert

Create a competitive advantage

Invest in yourself

Be accessible

Build a rock-solid reputation

Sell benefits

Get involved

Grab attention

Master the art of negotiations

Design your work space for success

Get and stay organized

Take time off

Follow-up constantly

You must have a vision

You must have passion

You must learn to be a great decision maker

You must be a team builder

You must have character

 

SESSION II: MR. SANDEEP ATRE 

On July 9, 2011, Mr. Sandeep Atre, a very successful Educational Entrepreneur delivered and shared his experiences with students. The session was attended by 78 students of MBA. He focused on the Entrepreneurial Mindset. There is nothing better for an entrepreneur than having a lecturer that enjoys entrepreneurship and embraces innovation in his career.  He said that Entrepreneurial lecturers will always seek for a better teaching solution as well as being open for ideas and suggestions.

They will also understand circumstances and problems faced by students with entrepreneurial minds and best of all, other students might also be stimulated by the entrepreneurial mindset. By having the mindset, a lecturer will generally be able to pass the upcoming subjects listed below due to the improved teaching methods as well as the approach taken to educate students.

It is important to have a upper hand over technical subjects like accountancy, OM, OR, Statistics, engineering, biology, chemistry, physics or computer science, a qualification is important as it indicates that he or she possesses sufficient knowledge to be a Entrepreneur. Entrepreneurs love practical learning opportunities. One cannot effectively master certain skills like networking, communication, data mining, research, team work and leadership by just reading. Group activities, presentations, research reports and mock scenarios help to build the practical skills that are extremely useful for an entrepreneur. However, this may require an extra effort from the lecturers as some syllabuses do not take these activities into account.

 

SESSION III: DR. NISHIT DUBEY:

CHALLENGES & OPPORTUNITIES BEFORE AN ENTREPRENEUR

On August 16, 2011, Dr. Nishit Dubey, Director, MRSC, Indore was face-to face with the students. The session was attended by 72 students of MBA. He highlighted on Risk taking ability, Self-confidence, Decision making ability, Knowledge of cumin growing to harvesting technology, Economic motivation, Market orientation, Risk factors, Soil and firm condition of experiences, Water resources, Water quality and volumes, need to cumin for all technical factors, Ability of co-ordination to cumin related activities, Achievement, Motivation, etc. indicators are behavior of entrepreneurial.

Entrepreneurship has gained greater significance at global level under changing economic scenario. Global economy in general and Indian economy in particular is poised for accelerated growth driven by entrepreneurship. Admits environment of super mall culture we find plenty of scope for entrepreneurship in trading and manufacturing. An entrepreneur is a person who is able to look at the environment, identify opportunities to improve the environmental resources and implement action to maximize those opportunities. It is important to bear in mind the entrepreneurial skills that will be needed to improve the quality of life for individuals, families and communities and to sustain a healthy economy and environment. 

The entrepreneurs provide a magical touch to an organization, whether in public or private or joint sector, in achieving speed, flexibility, innovativeness, and a strong sense of self-determination. They bring a new vision to the forefront of economic growth.

 

SESSION IV: SOCIAL ENTREPRENEURSHIP: SHRI P.C. JAIN

On September 24, 2011, Shri P.C. Jain, Chairman, Pioneer Group of Institutions delivered a lecture on Social Entrepreneurship. The session was attended by 57 students of MBA. He said that social entrepreneurship is the work of social entrepreneurs. A social entrepreneur recognizes a social problem and uses entrepreneurial principles to organize, create and manage a venture to achieve social change (a social venture). While a business entrepreneur typically measures performance in profit and return, a social entrepreneur focuses on creating social capital. Thus, the main aim of social entrepreneurship is to further social and environmental goals. Social entrepreneurs are most commonly associated with the voluntary and not-for-profit sectors,http://en.wikipedia.org/wiki/Social_entrepreneurship - cite_note-0 but this need not preclude making a profit. Social entrepreneurship practiced with a world view or international context is called international social entrepreneurship.http://en.wikipedia.org/wiki/Social_entrepreneurship - cite_note-1

Social entrepreneurs are individuals with innovative solutions to society’s most pressing social problems. They are ambitious and persistent, tackling major social issues and offering new ideas for wide-scale change. Rather than leaving societal needs to the government or business sectors, social entrepreneurs find what is not working and solve the problem by changing the system, spreading the solution, and persuading entire societies to take new leaps. Social entrepreneurs often seem to be possessed by their ideas, committing their lives to changing the direction of their field. They are both visionaries and ultimate realists, concerned with the practical implementation of their vision above all else.

Each social entrepreneur presents ideas that are user-friendly, understandable, ethical, and engage widespread support in order to maximize the number of local people that will stand up, seize their idea, and implement with it. In other words, every leading social entrepreneur is a mass recruiter of local change makers—a role model proving that citizens who channel their passion into action can do almost anything.

 

SESSION V: ENTREPRENEURSHIP AS CAREER OPTIONS: MR. ANIL GORANI

On October 13, 2011, Mr. Anil Gorani said that Entrepreneurs start new businesses and take on the risk and rewards of being an owner. The session was attended by 65 students of MBA. These students have finally decided to be an Entrepreneur or they are going to join their family business. 

Some new ventures generate enormous wealth for the entrepreneur. However, the job of entrepreneur is not for everyone. You need to be hard-working, smart, creative, willing to take risks and good with people. You need to have heart, have motivation and have drive. 

 

One of the best things about pursuing a career as an entrepreneur is the wide-open possibilities. There is room in many economies throughout the globe for entrepreneurship. There are many industries where wealth creation is possible be it the Internet and IT, personal services, media, engineering or small local business (e.g., dry cleaning, electronics repair, restaurants). But there is a downside of entrepreneurship too. Your life may lack stability and structure. Think about problems that people would pay to have a solution to. It helps to know finance. It's a must to really know your product area well. What do consumers want? What differentiates you from the competition? How do you market this product? A formal business plan is not essential, but is normally a great help in thinking through the case for a new business. You'll be investing more in it than anyone else, so treat yourself like a smart, skeptical investor who needs to be convinced that the math adds up for the business you propose starting. 

Entrepreneurs have many personalities. A number never finished college. Some are fiery revolutionaries. Some are gentle souls with a good idea. Some are driven but difficult. Some have grown up in the most difficult circumstances imaginable - emerging with enormous determination to strive for greatness. Others are pleasant, personable and compassionate renegades. Generally, there will be a life event, key motivator or a source of inspiration that causes a person to strike out on their own rather than work inside a larger company. Sometimes it is cubicle fatigue or, worse, getting fired. Other times it is an "aha moment" where an insight or innovation into how an industry or business could be done differently arises. Sometimes it's a bad boss. 

 

The possibilities in entrepreneurship are endless. The rewards can be high. And the risks are undoubtedly high too. But, if you have drive, creativity and the desire to be your own boss, this may very well be the career for you.