1. Entrepreneurship Management Developing a Business Idea
Prof Bharat Nadkarni

2. “ We have been programmed to follow the traditional form of life
“ We have been programmed to follow the traditional form of life. We graduate from average colleges, settle for average jobs, come home every night to crash on our average beds, and then catch some rather average dreams.
But there are some of us, who break away from the conventional way of life to live their dreams.
Heading off on one’s own is not a concept Indian techies or management students/ freshers are conditioned with. They prefer jumping on the shoulders of multinationals for securing their careers, thus conforming to societal pressures. “

3. Entrepreneurship is about committing oneself 110 per cent to the business proposition that one is offering to the marketplace. The odds are heavily against an entrepreneur: he or she is often a novice, unconnected, with not much brand value, strapped on resources, etc.
In this context, it is the commitment and burning desire to prevail and succeed that will carry him or her through in the initial years.
Entrepreneurship is not taught but embedded, developed and nurtured. It is relatively easy to be creative (in terms of producing ideas) but it is infinitely more demanding for creative thinking to result in practical innovation (in terms of producing new goods and services).

4. Is it worth? Entrepreneurship Management
Opportunity is a business concept, which if turned into a tangible product or service, by us, will result into profit and eventually a lifetime of commitment. It is all about creating a SUCCESS STORY.
Parameters for assessment
Market Potential
Market Share
Routes to Market
Protection
Business Viability
Is it worth?

5. ENTREPRENEURSHIP MANAGEMENT Entrepreneurship Process Prof Bharat Nadkarni

6. Entrepreneurship Management
The Entrepreneurship Process
Identify and Evaluate the Opportunity
Develop the Business Plan
Determine the Resources required
Manage the Resulting Enterprise

7. Entrepreneurship Management
Identify and Evaluate the Opportunity
Creation and length of opportunity
Real and Perceived value of opportunity
Risk and Returns of opportunity
Opportunity Vs Personal Skills and Goals
Competitive Situations

8. Entrepreneurship Management
Develop the Business Plan
Marketing Plan
Financial Plan
Production Plan
Organisational Plan
Operational Plan

9. Entrepreneurship Management
Determine the Resources Required
Existing resources of Entrepreneur
Resource gap and available supplies
Access to needed resources

10. Entrepreneurship Management
Manage the Resulting Enterprise
Management Style
Key variables for success
Identification of threats
Implementation of control system

11. Entrepreneurship Management
Importance of Identifying the right business opportunity
Long term consequences – A business is created to last for a reasonable period. Its success makes the entrepreneur’s career. (Minimum : 30 + years, a normal work life)
It is a commitment, which can not be easily reversed. Resources are employed to create a business. These resources are wasted, if not employed.
Ideas are put into actions. It is like a dream realized.

12. New Product Planning & Development Process
Idea Stage & Evaluate
Concept Stage & Evaluate
Laboratory development
Product Development Stage & Evaluate
Pilot production run
Test Marketing Stage & Evaluate
Semi commercial plan trials
Commercialisation Stage & P L C (I-G-M-D)

13. Entrepreneurship Management
Thank You