Table of Contents:
PART 1: ENTREPRENEURIAL PERSPECTIVES
1 Entrepreneurship
Introduction
Evolution of the Concept of Entrepreneurship
Richard Cantillon
Adam Smith
Jean-Baptiste Say
Francis Walker
Joseph Schumpeter
Entrepreneurship Today
Who Is an Entrepreneur?
How Do I Become an Entrepreneur?
Advantages of Being an Entrepreneur
Types of Entrepreneurs
Intrapreneurship
Difference Between a Manager and an Entrepreneur
Entrepreneurial Competencies
Capacity Building for Entrepreneurs
Summary
Key Terms
Case Study
Discussion Questions
Activity
Project
Endnotes
2 Entrepreneurial Development and Training
Introduction
Entrepreneurial Environment
Global Entrepreneurship Environment
Business Climate in India
Environmental Factors Affecting Entrepreneurial Growth
Creating a Favourable Environment for Entrepreneurship
Models of Entrepreneurial Development
Psychological Models
Sociological Models
Integrated Models
Entrepreneurial Motivation
Need for Achievement (nAch)
Thematic Apperception Test (TAT)
Entrepreneurship Motivation Training (EMT)
Entrepreneurship Training Methods
Lecture Method
Participative Methods
The Process of Entrepreneurial Development
Summary
Key Terms
Case Study
Discussion Questions
Activity
Project
Endnotes
3 Women Entrepreneurs
Introduction
Women’s Entrepreneurship in Asia
Women’s Entrepreneurship in India
Challenges Faced by Women Entrepreneurs
Microsphere
Mesosphere
Macrosphere
Strategies for the Development of Women Entrepreneurs
Encouraging Home-based Businesses
Widespread Business Education
Better Financial Assistance
Wider Access to Technology
Group Entrepreneurship/Grassroots Entrepreneurship Through Self-help Groups
Institutions Supporting Women Entrepreneurs in India
Consortium of Women Entrepreneurs of India (CWEI)
Federation of Indian Women Entrepreneurs (FIWE)
FICCI Ladies Organization (FLO)
Women’s India Trust (WIT)
Association of Women Entrepreneurs of Karnataka (AWAKE)
Special Bank Schemes Promoting Women’s Entrepreneurship
Cent Kalyani of Central Bank of India Credit Scheme
National Bank for Agriculture and Rural Development (NABARD)
Small Industries Development Bank of India
Women Entrepreneurs from Around the World
Mary Kay Ash
Jenna Jameson
Anita Roddick
Oprah Winfrey
Madame C. J. Walker
Coco Chanel
Debbi Fields
Estée Lauder
Arianna Huffington
Women Entrepreneurs in India
Kiran Mazumdar-Shaw
Ritu Kumar
Women’s Empowerment Through Entrepreneurship
The Gender and Development Approach
Shri Mahila Griha Udyog Lijjat Papad (SMGULP)
Summary
Key Terms
Case Study
Discussion Questions
Activity
Project
Endnotes
4 Family Business
Introduction
Role and Importance of the Family Business
Contributions of Family Businesses in India
Stages of Development of a Family Business
Characteristics of a Family-owned Business in India
Various Types of Family Businesses
Roles, Responsibilities, and Rights of Family Members in a Family Business
Founder
Owners (Shareholders)
Directors (Board of Directors)
Family Members
The Three-circle Model of Family Business
Challenges Faced by Family-owned Businesses
Succession in Family Business
Improving the Performance of a Family Business
Summary
Key Terms
Case Study
Discussion Questions
Activity
Project
Endnotes
5 Micro, Small, and Medium Enterprises
Introduction
Role and Importance of Micro, Small, and Medium Enterprises
Concepts and Definitions of MSME
The MSMED Act, 2006
Government Policy Initiatives Since 1948
Report of the Task Force on MSME
Growth and Development of MSME in India
Current Schemes for MSME
Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE)
Technology Upgradation Schemes
Marketing Assistance Scheme
Certification Scheme
Credit Rating Scheme
The Fourth All-India Census of MSME
Problems Facing the MSME Sector
Role of Clusters in Promoting MSME
Summary
Key Terms
Case Study
Discussion Questions
Activity
Project
Endnotes
PART 2: NEW VENTURE CREATION
6 Identification of Business Opportunities
Introduction
What Defines a Good Business Opportunity?
When Is an Idea an Opportunity?
How to Generate Business Ideas
What Leads to the Creation of Opportunities
How to Identify a Business Opportunity
Mobility of Entrepreneurs
Geographical Mobility of Entrepreneurs
Occupational Mobility
Business Opportunities in India
Models for Opportunity Evaluation
The RAMP Model
Mullins’s Seven-domain Framework
Summary
Key Terms
Case Study
Discussion Questions
Activity
Project
Endnotes
7 Project Management and Financing
Introduction
Project Manager
Project Life Cycle
Project Scheduling
Gantt Charts
Network Techniques
Project Management Software
Microsoft Project
InstaPlan
Yojana
PRISM Project Manager
PRIMAVERA
Capital Budgeting
Generating an Investment Project Proposal
Project Analysis
Market Analysis
Technical Analysis
Financial Analysis
Economic Analysis
Ecological Analysis
Project Evaluation and Selection
The Payback Period
Accounting Rate of Return (ARR)
Net Present Value (NPV)
Internal Rate of Return (IRR)
Benefit–Cost Ratio (BCR)
Project Financing
Equity Financing
Angel Investing
Debt Financing
Miscellaneous Sources
Project Implementation Phase
Capital Structure and Cost of Capital
Detailed Project Report
Summary
Key Terms
Case Study
Discussion Questions
Activity
Project
Endnotes
Annexure
8 Business Plans
Introduction
Purpose of a Business Plan
Contents of a Business Plan
Cover Page and Table of Contents
Executive Summary
Business Concept
Business Strategy
Management Summary
Marketing Plan
Operations Plan
Financial Plan
Appendix
Presenting a Business Plan
Oral and Visual Presentation
Why Do Some Business Plans Fail?
Procedure for Setting Up an Enterprise
Selection of a Project
Decide on the Constitution
Obtain Registration
Obtain Clearances from Departments as Applicable
Arrange for Land/Shed
Arrange for Plant and Machinery
Arrange for Infrastructure
Prepare Project Report
Apply for and Obtain Finance
Implement the Project and Obtain Final Clearances
Summary
Key Terms
Case Study
Discussion Questions
Activity
Project
Endnotes
Annexure
Business Plan I: Micro, Small, and Medium Enterprises (MSME) Clinic
Business Plan II: Fragrance House
9 Institutions Supporting Business Enterprises
Introduction
Central-level Institutions
National Board for Micro, Small, and Medium Enterprises (NBMSME)
The Khadi and Village Industries Commission (KVIC)
The Coir Board
MSME–DO
National Small Industries Corporation (NSIC)
National Science and Technology Entrepreneurship Development Board (NSTEDB)
National Productivity Council (NPC)
Entrepreneurship Development Institute of India (EDI)
National Research Development Corporation of India (NRDCI)
National Entrepreneurship Development Institutes
State-level Institutions
State Directorate of Industries and Commerce
District Industries Centres (DIC)
State Financial Corporation (SFC)
State Industrial Development Corporation (SIDC)
State Industrial Area Development Board (SIADB)
Other Institutions
National Bank for Agriculture and Rural Development (NABARD)
Housing and Urban Development Corporation (HUDCO)
Technical Consultancy Organization (TCO)
Small Industries Development Bank of India (SIDBI)
Export Promotion Councils (EPCs)
Industry Associations
Non-Governmental Organizations (NGOs)
Business Incubators
Summary
Key Terms
Case Study
Discussion Questions
Activity
Project
Endnotes
10 Business Organizations and Business Laws
Introduction
Sole Proprietorship
Joint Hindu Family Business
Partnership
Limited Liability Partnership (LLP)
Joint Stock Company
Corporate Governance
Cooperative Society
Franchising
Business Laws
The Indian Contract Act, 1872
The Sale of Goods Act, 1930
The Indian Partnership Act, 1932
The Limited Liability Partnership Act, 2008
The Indian Companies Act, 1956
The Negotiable Instruments Act, 1881
The Information Technology Act, 2000
Intellectual Property Rights
The Patents Act, 1970
The Copyright Act, 1957
The Trade Marks Act, 1999
The New Designs Act, 2000
The Consumer Protection Act, 1986
The Right to Information Act, 2005
The Competition Act, 2002
The Foreign Exchange Management Act (FEMA), 1999
Summary
Key Terms
Case Study
Discussion Questions
Activity
Project
Endnotes
PART 3: MANAGEMENT OF ENTERPRISES
11 Preventing Sickness in Enterprises
Introduction
Specific Management Problems
Management Deficiency
Finance
Manufacturing and Technical Problems
Product Planning
Selection of Equipment, Plant, and Machinery
Human Resource Development
Technical Know-how
Preparation of Project Report
Industrial Sickness
Definition of Sickness
Definition of Sick Enterprises—Micro and Small Enterprises
Sick Industrial Companies Act, 1985
National Company Law Tribunal (NCLT)
National Company Law Appellate Tribunal (NCLAT)
Industrial Sickness in India
Sickness in Micro, Small, and Medium Enterprises
Causes of Industrial Sickness
Symptoms of Industrial Sickness
Prediction of Sickness
Process of Industrial Sickness
Normal or Healthy
Tending Towards Sickness
Incipient Sickness
Complete Sickness
Rehabilitation of Sick Units
Technical Appraisal
Commercial Appraisal
Management Appraisal
Financial Appraisal
Turnaround Strategy
Winding Up of a Company
Exit Strategy
Initial Public Offering
Summary
Key Terms
Case Study
Discussion Questions
Activity
Project
Endnotes
12 Financial Management in Enterprises
Introduction
Functions of Financial Management
Accounting and Bookkeeping
Process of Accounting
Types of Accounting
Generally Accepted Accounting Principles
Types of Books of Accounts
Financial Statements
Balance Sheet
Profit and Loss Account
Cash Flow Statements
Working Capital Management
Calculation of Working Capital Cycle
Ratio Analysis for Working Capital Management
Sources of Working Capital
Break-even Analysis
Financial Ratio Analysis
Liquidity Ratios
Activity/Turnover Ratios
Debt/Solvency Ratios
Profitability Ratios
Capital Market Ratios
DuPont Analysis
Summary
Key Terms
Case Study
Discussion Questions
Activity
Project
Endnotes
13 Operations and Human Resource Management in Enterprises
Introduction
Operations Management
Operations Strategy
Demand Forecasting
Forecasting Models
Technology Management
Production Management
Production Planning and Control (PPC)
Work Content and Capacity Determination
Supply Chain Management
Materials Management
Inventory Management
Inventory Costs
Inventory Control Techniques
Benefits of Inventory Control
Productivity
Total Quality Management
Prerequisites for TQM
Benefits of TQM
Quality Management System (QMS)
Maintenance
Occupational Health and Safety Advisory Services
Benefits of OHSAS 18001 Registration
National Safety Council of India (NSCI)
Environmental Management System
Benefits of Environmental Management System
Human Resource Management
HRM Policy
Functions of HRM
Industrial Relations
Employee Engagement
Labour Laws
Indian Factories Act, 1948
Payment of Wages Act, 1936
Minimum Wages Act, 1948
Payment of Bonus Act, 1965
Industrial Employment Act, 1946
Industrial Disputes Act, 1947 (82 and 84)
Trade Unions Act, 1926
Child Labour Act, 1986
The Equal Remuneration Act, 1976
Sexual Harassment of Women at Their Workplace (Prevention) Act, 2003
Laws Relating to Environment and Pollution Control
Social Security Laws
Employees’ Provident Fund and Miscellaneous Provisions Act, 1952
Payment of Gratuity Act, 1972
Maternity Benefit Act, 1961
Miscellaneous Legislation
Summary
Key Terms
Case Study
Discussion Questions
Activity
Project
Endnotes
14 Managing Marketing and Growth in Enterprises
Introduction
India’s Growing Services Sector
Common Marketing Problems Faced by Enterprises
Differences Between Product and Services Marketing
Intangible Nature of the Service Product
Trust Aligned with the Product
Product Positioning
More Contacts Between Customers and Service Personnel
Customer Involvement in Production
Interactions Among Marketing, Operations, and Human Resources
Problems in Controlling Product Quality and Consistency
Absence of Inventories
Importance of the Time Factor
Structure of Distribution Channels
Essential Marketing Mix of Services Marketing
People
Process
Physical Evidence
Key Success Factors in Services Marketing
Marketing Process
Market Research
Marketing Planning
Marketing Mix
Implementation and Control
Costing and Pricing
Cost Ladder
Branding
New Techniques of Marketing
Internet Marketing
Direct Marketing
Niche Marketing
Ambush Marketing
Green Marketing
Social Marketing
Relationship Marketing
Viral Marketing
Rural Marketing
Global Marketing
International Trade
Tariff Barriers to Trade
Non-tariff Barriers to Trade
Facilitators
International Marketing Environment
Export Procedure and Documentation
Organizational Life Cycle
Growth Strategies
Organic Growth
Inorganic Growth
Essence of Business Ethics and Corporate Social Responsibility
Corporate Social Responsibility
Social Responsibility Strategies of Enterprises
Summary
Key Terms
Case Study
Discussion Questions
Activity
Project
Endnotes

The revised and updated second edition of Entrepreneurship Development and Small Business Enterprises discusses how entrepreneurs can successfully manage their ventures in a highly dynamic and challenging environment. This book prepares students for life outside the classroom through case studies drawn from diverse sectors, profiles of successful entrepreneurs, and projects which promote analysis and decision-making