Business Environment & Entrepreneurship

• Business Environment: Introduction & Features, Concept of Vision & Mission Statements.
• Types of Environment:
- Internal to the Enterprise: Value System, Management Structure and Nature, Human Resource, Company Image and Brand Value, Physical Assets, Facilities, Research & Development, Intangibles, Competitive Advantage.
- External to the Enterprise: Micro: Suppliers, Customers, Market Intermediaries.
- Macro: Demography, Natural, Legal & Political, Technological, Economy, Competition, Socio-cultural & International.
- Business Environment with reference to Global Integration.

• Forms of Business Organization: Concept & Features in relation to following business models: Sole Proprietorship, Partnership, Company, Statutory Bodies, Corporations, HUF & Family Business, Cooperatives, Societies, Trusts, Limited Liability Partnership and Other forms of Organisation.
• Scales of Business Organisation
Micro, Small and Medium Enterprises, Large Scale Enterprises, Public Enterprises, MNCs
• Emerging Trends in Business- Concepts, Advantages and Limitations: Network Marketing, Franchising, Business Process Outsourcing (BPO), E-Commerce, M Commerce.

• Business Functions:
- Strategic: Planning, Budgetary Control, R&D, Location of Business, Factors affecting location, Decision Making & Government Policy. Supply Chain: Objectives, importance, limitations, steps, various production processes.
- Finance: Nature, scope, significance of Financial Management, Financial Planning (management decisions – sources of funds, investment of funds, distribution of profits)
- Marketing: Concept, difference between marketing and selling, marketing mix, functions of marketing.
- Human Resources: Nature, objectives, significance.
- Services: Legal, Secretarial, Accounting, Administration, Information & Communication Technology

• Entrepreneurship: Introduction to concept of Entrepreneurship, Traits of Entrepreneur, Entrepreneurship: who is an entrepreneur, why entrepreneurship.
- Types of Entrepreneurs – Idealist, optimizer, hard worker, sustainer, improver, advisor, superstar, artiste, visionary, analyst, fireball, juggler, hero, healer.
- Distinction between Entrepreneur and manager.
- Entrepreneurship and Intrapreneurship: Definition, features, examples and difference
• Entrepreneurship – Creativity and Innovation
- Entrepreneurial Venture Initiation: Sensing Entrepreneurial Opportunities, Environment Scanning, Market Assessment.
- Assessment of Business Opportunities: Identification of Entrepreneurial Opportunities, Selection of an Enterprise, Steps in setting up of an Enterprise.
- Entrepreneurial Motivation- Meaning and concept, process of achievement, Motivation, Self Efficacy, Creativity, Risk Taking, Leadership, Communication and Influencing ability, Monitoring and Planning Action, Developing Effective Business Plan.

• Growth and Challenges of Entrepreneurial Venture
- Strategic Planning for Emerging Venture: Entrepreneurial opportunities in contemporary business environment
- Financing the Entrepreneurial Business: Resource Assessment – Financial and non financial, Fixed and Working Capital Requirement, Funds Flow, Sources and Means of Finance
- Managing the Growing Business: Effecting Change, Moderation, Expansion and Diversification