Managerial process skills

examples
In

March 2009, the parents of IIT Delhi alumnus Deepinder Goyal, 29, were perplexed to see their son working from home. After a few days, they began to worry. Their "worst fears" were confirmed when Goyal disclosed that he had quit his cushy job at consulting firm Bain & Co to set up a foodie websiteFoodiebay.com. His parents were worried and advised Goyal to return to a "job." But the company he founded, now called Zomato.com, received $2.3 million (about Rs 12.3 crore) in funding in 2011, broke even with estimated revenue of more than Rs 3.5 crore in 2012, and has even expanded to west Asia and Europe. "They are extremely happy and proud now," says Go

 The

awards were given to the winners by chief guest

R Gopalakrishnan, director, Tata Sons. Gopalkrishnan said, the true intrapreneur is the one who finds out exact solution of any given problem and Intrapreneurship always happens when ambition is greater than resources. While speaking about this, he also mentioned some of the best relevant examples. He said that Praj Industries should present more and more such awards through their innovative initiatives which will motivate individuals on a large scale.

Course content

Dynamics of entrepreneurship: Commitment & determination: Leadership Dynamics of entrepreneurship: Opportunity obsession: Tolerance of risk Dynamics of entrepreneurship :Ambiguity & uncertainty; Creativity , self-reliance and ability to adapt

Cont..

Dynamics of entrepreneurship-Support from significant others ;motivation to excel Intrapreneurship and Entrepreneurship Entrepreneurship project Method for generating ideas Creative problem solving techniques Lateral thinking Analytical skills

Course Outline
1.

Internal Marks:40 marks assingment-20marks Individual assingment-10 marks Attendance-10marks Date of submission:31 march2012 End term exam:60 marks

Group

1.

Entrepreneurship

An economist defines an entrepreneur as one who brings resources, labour ,material and other assets into combinations that make value greater than before and also one who introduces changes , innovations and new order. A psychologist defines an entrepreneur as a person who is typically driven by some forces , which creates a desire to obtain or attain something.

Cont

A sociologist defines entrepreneur as a person whose actions would determines his social status and who contributes to the development of the society. Management experts define entrepreneur as a person who has vision and generates an action plan to achieve it. Entrepreneur is an individual who takes risks and starts something new.

The changing definition of entrepreneurship

1755 1800 1921 1930 1934 1973 1982 1987 1920 1991 Cantillon say Knight Weber Joseph Schumpeter Kirzen Mark Casson Stevenson &Sahlman Gartner Bygrave &Hofer A person bearing risk Agent combining all factors of production Recipient of pure profit Innovator Ability to identify new opportunities Contributes to movement towards equilibrium Judgment decision maker in co-ordinating scarce resources The relentless pursuit of opportunity Action taken to create organization Characteristics of the entrepreneurial process

Schumpeter thoery of innovation and economic dev

According to schumpeter innovation is not same as invention , it can be any of the following: The introduction of a new product Adoption of new technology Opening up of a new market Finding of new source of supply Bringing about new organization of an industry.

Entrepreuner organization

According to Frederick Harbison an organization which comprises all the people required to perform the entrepreneurial function like: Managing risk and handling of economic uncertainty Planning and innovation Coordination,administration and control Routine supervision

Cont.

Peter Drucker defines an entrepreneur as one who always search for change ,responds to it ,and exploits it as an opportunity. Max Weber defined entrepreneur innovation as an outcome of thoroughgoing rationalizing of every aspect of his enterprise. According to David McClelland ,entrepreneur are high on need for achievement(nAch).

CONT..

Le Vines shifts the emphasis from prevalent values to the social structure for need for achievement. Thomas Cochran considers entrepreneurship to represent a model personality which is a consequence of prevalent cultural values , role expectation and social sanctions. John Kunkel consider both behavioral and structural approach to entrepreneurship.

Characteristics of an entrepreneur
Vision

Knowledge Desire to succeed Independence Optimism Value addition Leadership Hardworking Risk taking ability

Characteristics of an entrepreneurship

Commitment and determination Desire of responsibility Opportunity obsession Tolerance for risk ,Ambiguity and uncertainty Self- confidence Creativity and flexibility

Cont.

Desire for immediate feedback High level of energy Motivation to excel Orientation to the Future Willingness to learn from Failure Leadership ability

Core and desirable attributes

Attitudes and behaviors of entrepreneurs

Cont

Skills required for entrepreneurship

1.

Technical skills

Writing Oral communication Interpersonal Technology Ability to organize Networking Coaching Guiding

Cont
1.

Business management skills: and organizing Decision making Controlling Negotiating Human relations Financing Marketing Venture Launch Managing Growth

Planning

Cont

Personal skills: Discipline Risk taking Innovating Change oriented Persistent Visionary leader