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Entrepreneurship Development and Small Business Enterprises, 3/e

Book Description

The revised and updated Third edition of Entrepreneurship Development and Small Business Enterprises discusses how entrepreneurs can successfully manage their ventures in a highly dynamic.

Table of Contents

  1. Cover
  2. About Pearson
  3. Title Page
  4. About the Authors
  5. Contents
  6. Forewords
  7. From the Academia
  8. From the Industry
  9. Preface
  10. Part 1: ENTREPRENEURIAL PERSPECTIVES
    1. 1 Entrepreneurship
      1. Introduction
      2. Evolution of the Concept of Entrepreneurship
      3. Richard Cantillon
      4. Adam Smith
      5. Jean-Baptiste Say
      6. Francis Walker
      7. Joseph Schumpeter
      8. Entrepreneurship Today
      9. Who Is an Entrepreneur?
      10. How Do I Become an Entrepreneur?
      11. Advantages of Being an Entrepreneur
      12. Types of Entrepreneurs
      13. Corporate Entrepreneurship
      14. Establishing Corporate Entrepreneurship in the Organization
      15. Entrepreneurial Competencies
      16. Capacity Building for Entrepreneurs
      17. Myths About Entrepreneurship
      18. Summary
      19. Key Terms
      20. Case Study
      21. Discussion Questions
      22. Activity
      23. Project
      24. Endnotes
    2. 2 Entrepreneurial Development and Training
      1. Introduction
      2. Entrepreneurial Environment
      3. Global Entrepreneurship Environment
      4. Business Climate in India
      5. Essentials of the 3Ds—Democracy, Demography, and Demand
      6. Advantage Manufacturing—Make in India
      7. Easy to Set up Business
      8. Easing Policy Guidelines
      9. Disintegrating Red-Tapism
      10. Developing Infrastructure—Smart Cities and Industrial Corridors
      11. Offering Strategic Locations for Doing Business in India
      12. GST—India Ushers the New Tax Regime
      13. Ease of Doing Business
      14. Environmental Factors Affecting Entrepreneurial Growth
      15. Creating a Favourable Environment for Entrepreneurship
      16. Models of Entrepreneurial Development
      17. Psychological Models
      18. Sociological Models
      19. Integrated Models
      20. Entrepreneurial Motivation
      21. Need for Achievement (nAch)
      22. Thematic Apperception Test (TAT)
      23. Entrepreneurship Motivation Training (EMT)
      24. Entrepreneurship Training Methods
      25. Lecture Method
      26. Participative Methods
      27. The Process of Entrepreneurial Development
      28. Effectual Entrepreneurship
      29. Summary
      30. Key Terms
      31. Case Study
      32. Discussion Questions
      33. Activity
      34. Project
      35. Endnotes
    3. 3 Women Entrepreneurs
      1. Introduction
      2. Women’s Entrepreneurship in Asia
      3. Women’s Entrepreneurship in India
      4. Challenges Faced By Women Entrepreneurs
      5. Microsphere
      6. Mesosphere
      7. Macrosphere
      8. Strategies for the Development of Women Entrepreneurs
      9. Encouraging Home-based Businesses
      10. Widespread Business Education
      11. Better Financial Assistance
      12. Wider Access to Technology
      13. Group Entrepreneurship/Grassroots Entrepreneurship Through Self-help Groups
      14. Sabala: Exporting Indian Handicraſts Through SHGs
      15. Institutions Supporting Women Entrepreneurs in India
      16. Consortium of Women Entrepreneurs of India (CWEI)
      17. Federation of Indian Women Entrepreneurs (FIWE)
      18. FICCI Ladies Organization (FLO)
      19. Women’s India Trust (WIT)
      20. Association of Women Entrepreneurs of Karnataka (AWAKE)
      21. Special Bank Schemes Promoting Women’s Entrepreneurship
      22. Cent Kalyani of Central Bank of India Credit Scheme
      23. National Bank for Agriculture and Rural Development
      24. Small Industries Development Bank of India
      25. Women Entrepreneurs from Around the World
      26. Mary Kay Ash
      27. Jenna Jameson
      28. Anita Roddick
      29. Oprah Winfrey
      30. Madame C. J. Walker
      31. Coco Chanel
      32. Debbi Fields
      33. Estée Lauder
      34. Arianna Huffington
      35. Women Entrepreneurs in India
      36. Vandana Luthra
      37. Meena Bindra
      38. Ritu Kumar
      39. Women’s Empowerment through Entrepreneurship
      40. The Gender and Development Approach
      41. Shri Mahila Griha Udyog Lijjat Papad (SMGULP)
      42. Summary
      43. Key Terms
      44. Case Study
      45. Discussion Questions
      46. Activity
      47. Project
      48. Endnotes
    4. 4 Family Business
      1. Introduction
      2. Role and Importance of the Family Business
      3. Contributions of Family Businesses in India
      4. Stages of Development of a Family Business
      5. Characteristics of A Family-Owned Business in India
      6. Various Types of Family Businesses
      7. Family Business Models
      8. Roles, Responsibilities, And Rights of Family Members in a Family Business
      9. Founder
      10. Owners (Shareholders)
      11. Directors (Board of Directors)
      12. Family Members
      13. The Three-Circle Model of Family Business
      14. Challenges Faced by Family-Owned Businesses
      15. Succession in Family Business
      16. Improving the Performance of a Family Business
      17. Summary
      18. Key Terms
      19. Case Study
      20. Discussion Questions
      21. Activity
      22. Project
      23. Endnotes
    5. 5 Micro, Small, and Medium Enterprises
      1. Introduction
      2. Role and Importance of Micro, Small, and Medium Enterprises
      3. Concepts and Definitions of MSME
      4. Organizational Set-Up
      5. Government Policy Initiatives For MSMEs
      6. Report of the Task Force on MSME
      7. Current Schemes for MSME
      8. Role of Clusters in Promoting MSME
      9. MSME Virtual Clusters
      10. The Fourth All-India Census of MSMEs
      11. Growth and Performance of MSMEs
      12. Problems Facing the MSME Sector
      13. Summary
      14. Key Terms
      15. Case Study
      16. Discussion Questions
      17. Activity
      18. Project
      19. Endnotes
  11. Part 2: NEW VENTURE CREATION
    1. 6 Identification of Business Opportunities
      1. Introduction
      2. What Defines a Good Business Opportunity?
      3. When is an Idea an Opportunity?
      4. Creativity and Innovation
      5. Types of Innovation
      6. How to Generate Business Ideas
      7. What Leads to the Creation of Opportunities
      8. How to Identify a Business Opportunity
      9. Ideas Labs and Business Model Canvas
      10. Mobility of Entrepreneurs
      11. Geographical Mobility of Entrepreneurs
      12. Occupational Mobility
      13. Business Opportunities in India
      14. Models for Opportunity Evaluation
      15. The RAMP Model
      16. Mullins’s Seven-domain Framework
      17. Summary
      18. Key Terms
      19. Case Study
      20. Discussion Questions
      21. Activity
      22. Project
      23. Endnotes
    2. 7 Business Plans
      1. Introduction
      2. Purpose of a Business Plan
      3. Contents of a Business Plan
      4. Cover Page and Table of Contents
      5. Executive Summary
      6. Business Concept
      7. Business Strategy
      8. Management Summary
      9. Marketing Plan
      10. Operations Plan
      11. Financial Plan
      12. Appendix
      13. Presenting a Business Plan
      14. Elevator Pitch
      15. Examples of Elevator Pitch
      16. Oral and Visual Presentation
      17. Why do some Business Plans Fail?
      18. Procedure for Setting up an Enterprise
      19. Selection of a Project
      20. Decide on the Constitution
      21. Obtain Registration
      22. Obtain Clearances from Departments as Applicable
      23. Arrange for Land/Shed
      24. Arrange for Plant and Machinery
      25. Arrange for Infrastructure
      26. Prepare Project Report
      27. Apply for and Obtain Finance
      28. Implement the Project and Obtain Final Clearances
      29. Summary
      30. Key Terms
      31. Case Study
      32. Discussion Questions
      33. Activity
      34. Project
      35. Endnotes
    3. 8 Project Management and Financing
      1. Introduction
      2. Project Manager
      3. Project Life Cycle
      4. Project Scheduling
      5. Gantt Charts
      6. Network Techniques
      7. Project Management Soſtware
      8. Microsoſt Project
      9. InstaPlan
      10. Yojana
      11. PRISM Project Manager
      12. Primavera
      13. Capital Budgeting
      14. Generating an Investment Project Proposal
      15. Project Analysis
      16. Market Analysis
      17. Technical Analysis
      18. Financial Analysis
      19. Economic Analysis
      20. Ecological Analysis
      21. Project Evaluation and Selection
      22. The Payback Period
      23. Accounting Rate of Return (ARR)
      24. Net Present Value (NPV)
      25. Internal Rate of Return (IRR)
      26. Benefit–Cost Ratio (BCR)
      27. Project Financing
      28. Equity Financing
      29. Angel Investing
      30. Debt Financing
      31. Miscellaneous Sources
      32. Project Implementation Phase
      33. Capital Structure and Cost of Capital
      34. Detailed Project Report
      35. Summary
      36. Key Terms
      37. Case Study
      38. Discussion Questions
      39. Activity
      40. Project
      41. Endnotes
      42. Annexure
    4. 9 Institutions Supporting Business Enterprises
      1. Introduction
      2. Central-Level Institutions
      3. National Board for Micro, Small, and Medium Enterprises (NBMSME)
      4. The Khadi and Village Industries Commission (KVIC)
      5. The Coir Board
      6. MSME–Do
      7. National Small Industries Corporation (NSIC)
      8. National Science and Technology Entrepreneurship Development Board (NSTEDB)
      9. National Productivity Council (NPC)
      10. Entrepreneurship Development Institute of India (EDII)
      11. National Research Development Corporation of India (NRDCI)
      12. National Entrepreneurship Development Institutes
      13. State-Level Institutions
      14. State Directorate of Industries and Commerce
      15. District Industries Centres (DIC)
      16. State Financial Corporation (SFC)
      17. State Industrial Development Corporation (SIDC)
      18. State Industrial Area Development Board (SIADB)
      19. Other Institutions
      20. National Bank for Agriculture and Rural Development (NABARD)
      21. Housing and Urban Development Corporation (HUDCO)
      22. Technical Consultancy Organization (TCO)
      23. Small Industries Development Bank of India (SIDBI)
      24. Export Promotion Councils (EPCs)
      25. Industry Associations
      26. Non-Governmental Organizations (NGOs)
      27. Business Incubators
      28. Summary
      29. Key Terms
      30. Case Study
      31. Discussion Questions
      32. Activity
      33. Project
      34. Endnotes
    5. 10 Business Organizations and Business Laws
      1. Introduction
      2. Sole Proprietorship
      3. Joint Hindu Family Business
      4. Partnership
      5. Limited Liability Partnership (LLP)
      6. Joint Stock Company
      7. Corporate Governance
      8. Cooperative Society
      9. Franchising
      10. Business Laws
      11. The Indian Contract Act, 1872
      12. The Sale of Goods Act, 1930
      13. The Indian Partnership Act, 1932
      14. The Limited Liability Partnership Act, 2008
      15. The Indian Companies Act, 1956
      16. The Negotiable Instruments Act, 1881
      17. The Information Technology Act, 2000
      18. Intellectual Property Rights
      19. The Patents Act, 1970
      20. The Copyright Act, 1957
      21. The Trade Marks Act, 1999
      22. The New Designs Act, 2000
      23. The Consumer Protection Act, 1986
      24. The Right to Information Act, 2005
      25. The Competition Act, 2002
      26. The Foreign Exchange Management Act (FEMA), 1999
      27. Summary
      28. Key Terms
      29. Case Study
      30. Discussion Questions
      31. Activity
      32. Project
      33. Endnotes
  12. Part 3 MANAGEMENT OF ENTERPRISES
    1. 11 Preventing Sickness in Enterprises
      1. Introduction
      2. Specific Management Problems
      3. Management Deficiency
      4. Finance
      5. Manufacturing and Technical Problems
      6. Product Planning
      7. Selection of Equipment, Plant, and Machinery
      8. Human Resource Development
      9. Technical Know-how
      10. Preparation of Project Report
      11. Industrial Sickness
      12. Definition of Sickness
      13. Definition of Sick Enterprises—Micro and Small Enterprises
      14. Sick Industrial Companies Act, 1985
      15. National Company Law Tribunal (NCLT)
      16. National Company Law Appellate Tribunal (NCLAT)
      17. Industrial Sickness in India
      18. Sickness in Micro, Small, and Medium Enterprises
      19. Causes of Industrial Sickness
      20. Symptoms of Industrial Sickness
      21. Prediction of Sickness
      22. Process of Industrial Sickness
      23. Normal or Healthy
      24. Tending Towards Sickness
      25. Incipient Sickness
      26. Complete Sickness
      27. Rehabilitation of Sick Units
      28. Technical Appraisal
      29. Commercial Appraisal
      30. Management Appraisal
      31. Financial Appraisal
      32. Turnaround Strategy
      33. Winding Up of a Company
      34. Exit Strategy
      35. Initial Public Offering
      36. Summary
      37. Key Terms
      38. Case Study
      39. Discussion Questions
      40. Activity
      41. Project
      42. Endnotes
    2. 12 Financial Management in Enterprises
      1. Introduction
      2. Functions of Financial Management
      3. Accounting and Bookkeeping
      4. Process of Accounting
      5. Types of Accounting
      6. Generally Accepted Accounting Principles
      7. Types of Books of Accounts
      8. Financial Statements
      9. Balance Sheet
      10. Profit and Loss Account
      11. Cash Flow Statements
      12. Working Capital Management
      13. Calculation of Working Capital Cycle
      14. Ratio Analysis for Working Capital Management
      15. Sources of Working Capital
      16. Break-Even Analysis
      17. Financial Ratio Analysis
      18. Liquidity Ratios
      19. Activity/Turnover Ratios
      20. Debt/Solvency Ratios
      21. Profitability Ratios
      22. Capital Market Ratios
      23. DuPont Analysis
      24. Summary
      25. Key Terms
      26. Case Study
      27. Discussion Questions
      28. Activity
      29. Project
      30. Endnotes
    3. 13 Operations and Human Resource Management in Enterprises
      1. Introduction
      2. Operations Management
      3. Operations Strategy
      4. Demand Forecasting
      5. Forecasting Models
      6. Technology Management
      7. Production Management
      8. Production Planning and Control (PPC)
      9. Work Content and Capacity Determination
      10. Supply Chain Management
      11. Materials Management
      12. Inventory Management
      13. Inventory Costs
      14. Inventory Control Techniques
      15. Benefits of Inventory Control
      16. Productivity
      17. Total Quality Management
      18. Prerequisites for TQM
      19. Benefits of TQM
      20. Quality Management System (QMS)
      21. Maintenance
      22. Occupational Health and Safety Management System (OHSMS)
      23. National Safety Council of India (NSCI)
      24. Environmental Management System
      25. Benefits of Environmental Management System
      26. Human Resource Management
      27. HRM Policy
      28. Functions of HRM
      29. Industrial Relations
      30. Employee Engagement
      31. Legislation Relating to Factories
      32. Wage Legislation
      33. Industrial Relations Legislation
      34. Child & Women Labour Legislation
      35. Social Security Legislation
      36. Miscellaneous Legislation
      37. Summary
      38. Key Terms
      39. Case Study
      40. Discussion Questions
      41. Activity
      42. Project
      43. Endnotes
    4. 14 Managing Marketing and Growth in Enterprises
      1. Introduction
      2. India’s Growing Services Sector
      3. Common Marketing Problems Faced by Enterprises
      4. Differences Between Product and Services Marketing
      5. Intangible Nature of the Service Product
      6. Trust Aligned with the Product
      7. Product Positioning
      8. More Contacts Between Customers and Service Personnel
      9. Customer Involvement in Production
      10. Interactions Among Marketing, Operations, and Human Resources
      11. Problems in Controlling Product Quality and Consistency
      12. Absence of Inventories
      13. Importance of the Time Factor
      14. Structure of Distribution Channels
      15. Essential Marketing Mix of Services Marketing
      16. People
      17. Process
      18. Physical Evidence
      19. Key Success Factors in Services Marketing
      20. Marketing Process
      21. Market Research
      22. Marketing Planning
      23. Marketing Mix
      24. Implementation and Control
      25. Costing and Pricing
      26. Cost Ladder
      27. Branding
      28. New Techniques of Marketing
      29. Internet Marketing
      30. Direct Marketing
      31. Niche Marketing
      32. Ambush Marketing
      33. Green Marketing
      34. Social Marketing
      35. Relationship Marketing
      36. Viral Marketing
      37. Rural Marketing
      38. Global Marketing
      39. International Trade
      40. Tariff Barriers to Trade
      41. Non-tariff Barriers to Trade
      42. Facilitators
      43. World Trade Organization (WTO)
      44. International Marketing Environment
      45. Export Procedure and Documentation
      46. Operations in International market
      47. Organizational Life Cycle
      48. Growth Strategies
      49. Organic Growth
      50. Inorganic Growth
      51. Essence of Business Ethics and Corporate Social Responsibility
      52. Corporate Social Responsibility
      53. Social Responsibility Strategies of Enterprises
      54. Summary
      55. Key Terms
      56. Case Study
      57. Discussion Questions
      58. Activity
      59. Project
      60. Endnotes
  13. Index
  14. Copyright