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Project management &

Entrepreneurship

By,Prof. Balaji Srinivasan

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Entrepreneurship Development

Programme(EDP)

EDP: (is expected to achieve)

Removal of unemploymentEnhancing of industrial development

Promoting of small scale industries

Development of industrially underdevelopedregions

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Techniques of identifying potential

Entrepreneur is based on:

Sound theoretical background. Standardized tests administered by experts

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Approaches:

The traits (or) personality theory approach

(TTA):

This theory states that prospectiveentrepreneurship certain personality traits such as

risk taking,achievement motivation which

distinguish them from others.Hence people are

selected by conducting Psychological tests aimed

at measuring such traits.

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Field Theory approach

This theory states that the individual

behaviour is to be studied in the social (or)

environmental context of person.

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Role theory approach

Here individual is to be studied in two contexts:

What a person perform

How he reaches to the situation

Here, past history of the candidate is necessary to

look into for understanding his entrepreneurialabilities.

Note:

Any single theory cannot be an answer to

selection procedure; combination is to beconsidered.

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Test for selection

Paper & pencil test

Projective Test

Situational Test

Biodata questionnaire followed by

individual interviews.

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Other conducted to assess the

motive of the people

Thematic Apperception Test (TAT):

Person is expected to a series of pictures for brief period of

time and is required to write short stories (in 5 or 6 minutes)

about the pictures.

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Competence

A competence is an underlying characteristics ofa person, which results in effective and/or superior

performance in a job.

A job comptence is an underlyingcharacteristics of a person, in the it may bemotive,traits,skills,aspect of ones seld image (or) a

body of knowledge which one uses.

The existence of the characteristics may (or)may not be known to the person

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Developing Entrepreneurial

Competencies

Understanding & recognizing

Self assessment

Practice

Application in Real life situation.

Feedback

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Industrial location : Strategic

DecisionImportant Factors: Availabilty of Raw materials

Nearness to market

Infrastructural facilities

Govt policy

Availability of Manpower (i.e) Labour

Local laws & Regulations

Ecological & Environmental factors Competition

Fire service, Police, Hospital etc.,

Start the industry at ones native place i.e. Home land

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Plant layout

Factors to be considered Production tech & Production nix

Efficiency & uninterrupted flow of men &

material Adequate space for maintenance work

Scope for future expansion

Adequate safety precautions, as & whenneeded

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Healthy conductive layout of plant

Proper lighting & ventilation

Proper prvision for waste disposal

Proper storage, stocking space etc.,

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Product Design

Standardization Product specification

Technical, Financial, Economic, Market

Product design

Technical specification

Production

Scheduling

Proper inspection Product inspection

Centralized & Decentralized location

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ua y con ro n ma ca eindustries

Indian standard specification (ISS)

Quality marketing schemes

Company standard incase of ancillary units

Any other standard specification prescribed

by the government

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How much to order?

Q= 2cs/IC= Annual usage of item in units (demand)

S= Cost to place one order

I=Annual carrying cost/unit.

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Questions

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Thank u..