ENTREPRENEURSHIP IN KNOWLEDGE BASED INDUSTRIES By Dr.J Vasanthakumari Incad Management Services Pvt.Ltd Incad@vsnl.net P

1. ENTREPRENEURSHIP IN KNOWLEDGE BASED INDUSTRIES By Dr.J Vasanthakumari Incad Management Services Pvt.Ltd Incad@vsnl.net Ph:23740897 , 23741650

2. Characteristics of an Entrepreneur • Perseverance and Hard Work • Risk – taking ability • High aspiration • Willingness to learn • Dynamic and Creative • Adaptable • Innovative • Good Salesmanship • Ability to win friends and Overcome crisis

3. Characteristics of an Entrepreneur • Perception of time • Initiative • Self - Confidence • Will Power • Determination to succeed • Pleasing Personality, composed and tactful • High Integrity • Responsible • Excellence in Work

4. Factors Affecting Entrepreneurship Psychological Factors • Lack of Empowerment • Poor risk taking ability • Low self - image • Poor Salesmanship

5. Factors Affecting Entrepreneurship Social Factors • Lack of social recognition • Inability to make social contacts • Restriction on mobility

6. Factors Affecting Entrepreneurship Technical Factors • Lack of Education • Lack of Project Idea • Lack of Process know - how Economical Factors • Inability to provide collateral security • Negative attitude of banks and financial institutions • Inordinate delays in the release of loans

7. Techniques to Identify Business Opportunity • Using your knowledge,skills and experience • Using available sources of information.eg.Publications, Magazines, etc. • Studying market trends and forecast

8. After Using the techniques, answer the following • What business am I interested in ? • What products or services will I provide ? • Is my idea practical ? • Who are my competitors ? • What are my strengths ? • Where is my customer ?

9. Both Individual and Group Entrepreneurship should be promoted Individual and Group Entrepreneurship • Youth entrepreneurship works at the individual level of motivation and skills • Success in youth entrepreneurship is always a team effort • Individual self interest must be blended with a notion of community responsibility • Group entrepreneurship is the best development strategy to find permanent solutions for problems of the poor in informal and rural sectors where people are unorganized

10. Classification of Entrepreneurs according to Business • Business Entrepreneurs • Trading Entrepreneurs • Industrial Entrepreneurs • Corporate Entrepreneurs • Agricultural Entrepreneurs • Service Entrepreneurs • Social Entrepreneurs

11. Women Entrepreneurs • Women in India constitute half of the total population • Owned and Controlled by a woman having 51% minimum financial investment and providing 51% of employment generated in the enterprise to women • Women entrepreneurs constitute 10% of entrepreneurs in the country

12. Problems faced by Women Entrepreneurs • Problem of Finance • Limited Mobility • Lack of Education • Male dominated society • Low risk bearing activity • Lack of social recognition • Problem of Marketing

13. Business Opportunities in Service Industries • Knowledge based industries a) Business Process Out Sourcing (BPO) b) Information Products c) Accounting Outsourcing d) HR Outsourcing e) Insurance f) Medical Billing / Medical Transcription g) Tutoring (Tutors Worldwide)

14. Business Opportunities in Service Industries • Consultancy Services / Management Services a) HR Consultancy b) Financial Consultancy c) Technical Consultancy d) Project Consultancy e) Business Consultancy f) Entrepreneurial Consultancy

15. HR Outsourcing Services • Recruitment • Staffing • Psychological Assessments • Training and Development • Performance Appraisal • Competency Mapping • Industrial Counselling

16. THANK YOU