1. INNOVATION, ETHICS & ENTERPRISE LAUNCHING

2. STRUCTURE OF THE UNIT
Understand the concept of Innovation in Entrepreneurship
Understand the concept of Ethics in Entrepreneurship
Enlist the various consumer protection laws in India
Outline of a business plan
Useful links for prospective entrepreneurs

3. INNOVATION IN ENTREPRENEURSHIP
What is Innovation?
“The ability to apply creative solutions to those problems and opportunities in order to enhance people’s lives and to enrich society is called Innovation.”

4. IMPORTANCE AND ADVANTAGES OF INNOVATION IN ENTERPRISES
Meet Consumers Demands
Improve Productivity
Reduce Costs
Competitiveness
Build the value of your brand
Establish new partnerships and relationships
Increase Turnover
Improve Profitability

5. STEPS TO PROMOTE INNOVATION IN ENTERPRISES:
Promote Creativity
Organise Brain-storming
Sessions
Create Environment for Creativity
Encourage Experimentation
Promote Inter-personal Communication
Reward Innovations
Recruit Innovative Employees

6. IN THE ABSENCE OF INNOVATION, YOU MAY FACE THE FOLLOWING CHALLENGES:
Lose Market Share
Fall In Productivity & Efficiency
Lose Key Staff
Reduced Profits

8. Activity
Divide into groups of 4. Each group can choose one kitchen product. Discuss how you can use innovation to make that product more effective/ popular.

9. ETHICS OF ENTREPRENEURSHIP
The fundamental moral values and behavioral standards that form the foundation for the people of an organization as they make decisions and interact with stakeholders is referred to as Entrepreneurial Ethics.
WHAT ARE ETHICS?
“A set of principles prescribing a behavioral code that explains what is good and right or bad and wrong; ethics may outline moral duty and obligations.”

10. IMPORTANCE OF ETHICS IN ENTREPRENEURSHIP:
Honesty and Integrity
Respect
Honour
Fair Pricing
Customer First

11. COMMON MISCONDUCT IN ORGANISATIONS ETHICAL TIPS FOR ORGANIZATIONS:
Dishonesty
Unprofessional Environment
Lack of Team Spirit
Misuse of Organizational Assets
ETHICAL TIPS FOR ORGANIZATIONS:
Develop A Code of Ethics
Treat Ethics as a process
Open lines of Communication
Educate Employees

12. Customer Satisfaction
Importance of Customer Satisfaction for Small Enterprises
Know Your Customers
Try to resolve one issue at a time
Use your manpower well
Encourage the customers to interact
Listen
Communicate
Interpret, and
Involve your customers

13. CONSUMER PROTECTION LAW IN INDIA
“On 24 December 1986 Government of India Enacted the Consumer Protection Act 1986 to ensure rights of Consumers and Provide Remedies to Deceived Consumers.”
OBJECTIVES OF THE ACT
Protection of Interests of Consumers
Protection of Rights of Consumers
Formation of Consumer protection councils
Formation of Judicial Machinery: Establishment
Fair Completion
Prevent Fraudulent Business
Protections for Smalls Enterprises

14. File Case with 2 Years No Lawyer Needed Documents Required
CONSUMER’S RIGHTS UNDER THE CONSUMER PROTECTION ACT:
Right to Safety
Right to be Informed
Right to Choose
Right to be heard
Right to Seek Redressal
Right to Consumer Education
HOW TO FILE A CASE IN CONSUMER COURT
File Case with 2 Years
No Lawyer Needed
Documents Required

15. HOW TO FILE A CASE IN CONSUMER COURT
Documents Required
Submit 3 copies of complaint
An invoice or bill for the purchase
Details of consumer
Warranty card for products and SLA for services
Proof of payment
Any other communication or record from the company
The registered address of the company
THE CONSUMER COURTS IN INDIA ARE DIVIDED INTO 3 LEVELS
District Consumer Dispute Redressal Forum
State Consumer Dispute Redressal Forum
National Consumer Dispute Redressal Forum

16. OUTLINE OF A BUSINESS PLAN Description of venture
Introductory page
Name and address of business
Name(s) and address(s) of principal(s)
Nature of business
Statement of financing needed
Statement of confidentiality of report
Executive summary – Three to four pages summarizing the complete business plan
Description of venture
Product(s)
Service(s)
Size of business
Office equipment and personnel
Background of entrepreneurs
Industry analysis
Future outlook and trends
Analysis of competitors
Market segmentation
Industry and market forecasts
Production plan
Manufacturing process
Physical plant (amount subcontracted)
Machinery and equipment
Names of suppliers of raw materials
 Operational plan
Description of company's operation
Flow of orders for goods and/or services
Technology utilization
Marketing plan
Pricing
Distribution
Promotion
Product forecasts
Controls
 Organizational plan
Form of ownership
Identification of partners or principal shareholders

17. Important information
More information about SIDBI is available at
Prospective entrepreneurs may register themselves on
For more information on Certified Credit Counsellors for MSMEs, visit
You can register as both buyer or seller on Government e Marketplace (GeM) website at
SC/ST and women entrepreneurs can borrow loans between Rs. 10 lakh and Rs. 1 Crore to start a manufacturing, trading or service unit under Stand Up India. Details are available at

18. THANK YOU