entreprenurship : global economic driver

7/28/2019 entreprenurship : global economic driver

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Entrepreneurship : A driver for Economic Development

TEAM: Naresh.N , Naveen Kumar , Rakesh ,

Nikhil Sancheti


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Entrepreneur is one who begins resources , labor, material and other assets

in to combinations that make their value greater than before and also one

who introduces changes , innovations and a new order.

Entrepreneurship: It is the attempt to create value through recognition of

business opportunity , the management of risk taking appropriate to theopportunity ,and through the communicative and management skills to

mobilize human , financial and material resources necessary to bring a

project


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Economic development

Economic development generally refers to the sustained, concerted actions

of policymakers and communities that promote the standard of living and economic health of

a specific area.


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Economic development


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Entrepreneurship in nexus with Economic

Development

Porter Model

Specific Stages

Factor driven Stage

Efficiency Driven Stage

Innovation Driven Stage


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Global Entrepreneurship Monitor

While it is easy to see that starting a new business to exploit a perceived business

opportunity would lead to economic development, it is also possible that necessity

entrepreneurship may not lead to economic development.

The Global Entrepreneurship Monitor (GEM) is a global study conducted by a consortium of universities

.

Necessity EntrepreneurshipOpportunity Entrepreneurship


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Entrepreneurship Framework

Financial Support

Government Policies and Programmes

Research & Development

Education & Training

Market Openeness

Seed capital

Accessible to all

economic factors


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Education & Training


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Organizations supporting entrepreneurship in economic development

Khadi & village industries commission

COIR Board

National skills development corporation

FICCI

CII

ASSOCHAM

(KVIC) is a statutory body formed by the Government of India under the Act of Parliament, 'Khadi and

Village Industries Commission Act of 1956'. It is an apex organization under the Ministry of Micro, Small

and Medium Enterprises with regard to khadi and village industries within India, which seeks to - "plan,

promote, facilitate, organise and assist in the establishment and development of khadi and village industriesin the rural areas in coordination with other agencies engaged in rural development wherever necessary.


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Role of FICCI , CII , ASSOCHAM supporting

entrepreneurship in economic development

Vibrant Gujurat Summit

Functions towards economic development

CII claims to usher change by working closely with government on policy issues, enhancing

efficiency, competitiveness and expanding business opportunities for industry through a range

of specialised services and global linkages.

It also provides a platform for sectoral consensus building and networking. Major emphasis is

laid on projecting a positive image of business, assisting industry identify and execute

corporate entrepreneurship programmes.

The organisation represents the interests of trade and commerce in India, and

acts as an interface between industry, government and other relevant

stakeholders on policy issues and initiatives. The goal of this organization is to

promote both domestic and international trade , and reduce trade

barriers while fostering conducive environment for the growth of trade and

industry of India.


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Established in 1988, NASSCOMs membership has grown over the years and currently stands

at 1,400. These companies represent 95 percent of industry revenues and have enabled the

association to spearhead initiatives and programs to build the sector in the country and

globally.

Nasscom launches 10,000 startups programWill Incubate, fund and support

10,000 technology startups over the next 10 years.NASSCOM intends to incubate, fund and support 10,000 technology startups in

India over a period of the next 10 years. The association hopes this will increase

the employment rate at startups by 5 folds and bring India among the Top 10Entrepreneurial & Innovation countries.


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Entrepreneurship in developing countries

With reference to China , India , Brazil

1) Opportunity

Allowing firms to pursue a portfolio approach to strategy that can efficiently manage the higher levels of

business and market risk. allowing firms to pursue a portfolio approach to strategy that can efficiently

manage the higher levels of business and market risk.

Consequently, the opportunity for entrepreneurship in emerging markets is pervasive. While Western

entrepreneurs operate at the fringes of the economy, emerging market entrepreneurs operate closer to the

corethe needs and opportunities are more widespread.

2) Financial Resources

Risk capital finance is particularly important for growth-oriented entrepreneurs in the

developing world, because it aligns the incentives of entrepreneurs and outside investors.

Each is properly motivated to maximize economic value of the enterprise.


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Entrepreneurship in developed

countries

USA , UK , Netherlands( source: GEDI)

Level of entrepreneurship has been evaluated by some quantitative measure, for instance the self-employment rate, business ownership rate, or business startups.

Global Entrepreneurship Monitors Total Early-stage Entrepreneurial Activity (TEA)

ratio has become a widel.y used measure of entrepreneurship

The determinants of entrepreneurship (regulation, R&D, entrepreneurial capabilities, culture, access to

finance and market conditions);

entrepreneurial performance (firms, employment, and wealth); and the impact of entrepreneurship in the

economic development.


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The factor-driven stage is marked by high rates of agricultural self-employment. Countries in this stage

compete through low-cost efficiencies in the production of commodities or low value-added products.

Sole proprietorshipsi.e., the self-employedprobably account for most small manufacturing firms and

service firms.

Efficiency-driven stage, countries must have efficient productive practices in large markets,

which allow companies to exploit economies of scale.

The innovation-driven stage is biased towards high value added industries in which

entrepreneurial activity is important.


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entreprenurship : global economic driver