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- 1. 1 Guidedby:- Er.TapasKumarPanigrahi(H.O.D) Er.DeepakKumarSahoo Department of Electrical & Electronics Engineering Submittedby:- GroupVStudents 1) HimanshuSekharPani(0601219379) 2) KadambiniBarik (0721219003) 3) Neerlipta (0601219373) 4) DebjitDey (0601219436) 5) SidharthaPanda (0601219421) 6) SatyaRanjanBehera (0601219427)
- 2. 2 7) Abhijit Mahapatra (0601219425) 8) AnantaKumarJena (0601219418) 9) Suraj Mahapatra (0601219314) ACKNOWLEDGEMENT It is with a great sense of satisfaction that we present our first real venture in the form of ENTERPRENEURSHIP PROJECT in the field of HDPP &PVC pipes industry in the sand city of Balasore popularly called as the OriPlast. It is a matter of privilege and for us to work under such experienced people. Our hearty acknowledgement, to the esteemed of Er. Tapas Kumar Panigrahi (H.O.D) Electrical & Electronics Engineering for the guidance, help and encouragement with many ideas for successful completion of this project. We also sincerely thanks for their timely support. We also express our gratitude to all the lecturers of the department of Electrical & Electronics Engineering for their time to time advice and encouragement, which led us to achieve our goals. Last but not the least, we wish to express to our heart felt thanks to all those who assisted us during the project work.
- 3. 3 CERTIFICATE OF ORIGINALITY This is to certify that the Entrepreneurship Project Report entitled HDPP & PVC pipes submitted to department of Electrical & Electronics Engineering, College of Engineering Bhubaneswar in the fulfill of the 8th semester of Bachelor in Technology is an original work carried out by GROUP-V MEMBERS under my guidance. The matter embodied in this report is genuine work done by the students and has not been submitted whether to this university or to any other university/institute for the fulfillment of the requirement of any course of study. Guidedby
- 4. 4 Er. DeepakKumarSahoo Er.TapasKumarPanigrahi(H.O.D) Department of Electrical & Electronics Engineering CONCEPT OF ENTREPRENEUR AND ENTREPRENEURSHIP Introduction:- The economic progress of the country depends upon industrial development. Industrialization has become the magic word of the mid-twentieth century. The factors which contribute for the industrial development are availability of natural resources, technology, infrastructural facilities, capital and inspired people who activates these factors of production leading to higher rate of economic growth. Dr. D.C. McClelland, a noted psychologist from Howard University in U.S.A., after extensive research has proved that the economic development of any nation does not depend much upon availability of natural resources and other such inputs but solely depends upon the inner desires and entrepreneurial inspiration of the people. Such inspired entrepreneurs utilize the resources and become instrumental to economic growth of the nation. Entrepreneurand Enterprise:- The entrepreneur can be considered as the fourth factor of enterprise. It produces goods and services worth more than the resources used. Enterprise is an undertaking, especially one which involves four factors land, labour, capital and entrepreneur. It involves the willingness to assume risks in undertaking an economic activity.
- 5. 5 Fig-1. Four Factors of Enterprise It also involves innovation. It always involves risk taking and decision-making. Entrepreneurs are the persons who start their own new and small enterprises. The entrepreneur and the enterprise are linked. The success of an enterprise depends on the entrepreneur. According to Schumpeter, Entrepreneurs are business leaders and not simple owners of capital. They are men of vision, drive and talent, who spot out opportunities and promptly grasp them for exploitation. Joseph A. Schumpeter writes: The entrepreneur in the advanced economy is an individual who introduces something new into the economy, a new method of production, a new product with which the consumers are not familiar, a new source of raw material or new market and the alike. He further states that entrepreneurs function is to reform or revolutionize the factors of production by exploiting an invention or more generally an untried technological possibility for producing a new commodity. According to French economist, J.B. Say, an entrepreneur is a person who shifts economic resources out or an area of lower into an area of higher productivity and greater yield. Entrepreneur always searches for a change, responds to it and exploits it as an opportunity. French tradition regards an entrepreneur as a person translating a profitable idea into a productive activity. Briefly an entrepreneur is one who innovates, raises money, assembles inputs, chooses managers and sets the organization going with his ability. ENTREPRENEURSHIP:- They exploit change as an opportunity for starting and running a business or a service. Innovation occurs through
- 6. 6 1. An introduction of a new quality in a product. 2. A new product. 3. A discovery of a fresh demand or a fresh resource of supply. 4. By change in the organization and management. One need not invent but convert old established products or services by changing their quality, their value, their economic characteristics into something new, attractive and possessing more utility. In case of developing economy like ours the concept of entrepreneur is understood differently. Entrepreneur in the developing economy is one who starts an industry (old or new) undertakes risks, bears uncertainties and also performs the managerial functions of decision making and coordinating. He also puts new processes based on technological research into operations. He is called an entrepreneur, even if he imitates by technique of production from a developed economy. The term entrepreneur has now been attributed to all small industrialists, traders and agriculturist. Hence all people who are gainfully engaged in work of manufacturing, distribution or service and other sectors are called entrepreneurs. The entrepreneur performs the following functions:- 1. Perceives opportunities for profitable investment. 2. Explores the prospects of starting such a manufacturing enterprise. 3. Obtains necessary industrial license. 4. Arranges initial capital. 5. Provides personal guarantee to the financial institutions. 6. Promise to meet the short falls in the capital. 7. Obtains the necessary technical know-how. ENTREPRENEURSHIP:- Entrepreneurship in the broader sense can be described as a process of action an entrepreneur (person) undertakes to establish his enterprise. It is a creative and innovative response to the environment.
- 7. 7 Fig-2. Concept of entrepreneurship Conceptof entrepreneurship:- Entrepreneurship is the inclination of mind to take calculated risk with confidence to achieve a pre determined business or individual objective. The capacity to take risk independently or individually to view to make profits and grasping an opportunity to make more earning in the market oriented economy is the dominant characteristics of modern entrepreneurship. McClelland identified two characteristics of entrepreneurship: 1. Doing things in a new and a better way. 2. Decision making under uncertainty. Entrepreneurship means the function of creating something new, organizing and coordinating and undertaking risk and handling economic uncertainty. Higgins defines the entrepreneurship as the function of 1. Seeing investment and production opportunity. 2. Organizing an enterprise. 3. Raising capital. 4. Hiring labour. 5. Arranging for supply of raw material. 6. Selecting top managers and executives for the day to day operation of the enterprise.
- 8. 8 Entrepreneurship is a composite skill, the resultant of many qualities and traits. These includes imagination, readiness to take risks, ability to bring together and put to use other factors of production, capital, labour, land and also intangible factors such as ability to mobilize scientific and technological advances. Entrepreneurship thus involves taking risk and making the necessary investments under conditions of uncertainty and innovating, planning and taking decisions so as to increase productivity in business, agriculture, industry etc. it thus plays a key role in the process of economic development. ENTREPRENEURSHIPDEVELOPEMENT The myth that entrepreneurs are born and not made, no longer holds good. It has been proved that entrepreneurial characteristics can be developed through well- structured entrepreneurial development programme. The duration of training under EDP ranges from seven days to three months. The basic objectives of entrepreneurial development programme can be stated as: 1. To develop and strength their entrepreneurial quality/motivation. To analyze environment relating to small industry and small business. 2. To select project or product. 3. To formulate project. 4. To know and influence the support needed for launching enterprise. To ensure providing self employment to a number of educated and less educated young men and women coming out of schools and colleges. 5. To acquire the basic managerial skill. 6. To know the pros and cons of being an entrepreneur. 7. EDP offers better potential for employment generation and wider dispersal of industrial ownership. The following factors promote entrepreneurship given the right socio-political and economic environment. 1. Financial assistance from institutional resources. 2. Accommodation in industrial estates. 3. Business experience in the same or related line.
- 9. 9 4. Strong desire to do something independent in life. 5. Technical knowledge and manufacturing experience. 6. Heavy demand for the various products. 7. Availability of collaboration, both foreign and indigenous. 8. Availability of machinery on lease or hire purchase. 9. Favorable attitudes o
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