IMR JAN 2013 - Indira Institutes

Unlocking Entrepreneurial CapabilitiesSource: Hytti.U.(Ed) (2002).State of Art of Enterprise Education in Europe-Result fromthe Entredu project, Turku Finland.In essence, each of these three categories hasthe purpose of identifying and monitoringprogress as the student moves frombecoming familiar with the concept ofentrepreneurship to developing a level ofmaturity that will enable the student to startan enterprise to a stage where thestudent/prospective entrepreneurpossesses most of the elements required forbusiness successFrom a further perspective Bolton andThompson (2004) postulate thatentrepreneurship education and trainingactivities consist of three categories, namely:Entrepreneurship as a subject, coveringthe areas from economic development tobusiness plan preparation, with a majorfocus on the entrepreneur;Entrepreneurship as an activity, with anapproach about entrepreneurship, but alsofor entrepreneurs with the main focus on thepreparation of a viable business plan; andEntrepreneur enabling, this is concernedwith the potential of entrepreneurs and howtheir talent can be identified and enabled.In view of the above analyses on content,entrepreneurial training must be viewed asa practical application and common senseapproach to acquiring the necessary skills togrow the business successfully.FACTORS INFLUENCINGENTREPRENEURSHIP Culture has a great impact onentrepreneurship. Generally people doingtraditional business do not like to work asemployees. Any society that believes inconsumerism promotes entrepreneurship inthat region because profits from a trade turnout to be higher than profits from a service. Aculture where people do not believe in hardwork and are afraid of taking risk is notfavorable for entrepreneurship.PoliticalEnvironment also affectsentrepreneurship. Unsteady politicalsituations, ever-changing administrativepolicies, high taxes hinder entrepreneurship.Governmental policies to developtransportation, communication network,industrial hubs and all other facilitiespromote entrepreneurship. The economyplays a significant role in the growth of anenterprise. Strong and stable economicconditions encourage business.Availability of Various Resourceslikemoney, man power; raw materials,communication and transportation facilitiesetc. play a major role in influencing anyenterprise. Besides all these factors, thegrowth of an enterprise depends upon the90 Indira Management Review - Jan 2013