Entrepreneurship is the key to economic progress of a nation. Development of entrepreneurs leads to rapid industrialization and hence improved well being of a country. Entrepreneurs are therefore called the wealth creators. Traditionally it was believed that entrepreneurial talent is an innate trait which one inherits through his birth.
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Traditional business communities used to enter into the world of business with the requisite skills. But entrepreneurial growth requires focus on human resource development and its proper utilization and motivation for entrepreneurial initiatives.
Innovations in behavioral sciences have enabled us to look into the mental facets and develop, ways to change the attitude, inclination and interest of individuals in the desired direction.
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There has been a felt need for concerted and systematic effort to identify, develop, nurture and sustain entrepreneurial talents in the interest of the national development.
Exclusive training based interventions have proved to be beneficial in stimulating, supporting and supporting entrepreneurial initiatives.
Entrepreneurial development programme is a systematic and an organized development of a person to an entrepreneur.
The development of an entrepreneur refers to inculcate the entrepreneurial skills into a common person, providing the needed knowledge, developing the technical, financial, marketing and managerial skills, and building the entrepreneurial attitude.
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The concept or entrepreneurial development involves equipping a person with the required information and knowledge used for enterprise building and polishing his entrepreneurial skills.
In these days, entrepreneurial development programmes are treated as an important tool of industrialization and a solution of unemployment problem of India.
The overall aim of an entrepreneurial development programme is to stimulate a person for adopting entrepreneurship as a career and to make him able to identify and exploit the opportunities successfully for new venture.
Definition:
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“Identifies intelligence, motivation, knowledge and opportunity as the prerequisites for entrepreneurial development”
“Entrepreneurial development programme may be defined as a programme designed to help an individual in strengthening his entrepreneurial motive and in acquiring skills and capabilities necessary for playing his entrepreneurial role effectively.
It is necessary to promote this understanding of motives and their impact on entrepreneurial values and behavior for this purpose”.
“It is an attempt to develop person as entrepreneur through structural training. The main purpose of such entrepreneurial development programme is to widen the base of entrepreneurship by developing achievement motivation and entrepreneurial skills among the less privileged sections of society”.
An entrepreneurship development programme is, thus, based on the belief that individuals can be developed to entrepreneur by changing their outlook through an organized and systematic programme EDP is not merely a training programme. It is a process of:
- Enhancing the motivation, knowledge and skills of the potential entrepreneurs.
- Arousing and reforming the entrepreneurial behavior in their day-to-day activities.
- Assisting them develop their own ventures or enterprise as a sequel to entrepreneurial action.