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Entrepreneurship 2.0

This document provides an overview of management concepts including: 1) Definitions of management, its characteristics, nature, functions and levels. The four functional areas of management are also described. 2) Planning is introduced as a management function, including its importance, types, and steps. Decision making and its types are also summarized. 3) Organizing is defined and the steps, nature, and principles of organizing are outlined. Departmentation and types of organization structures are briefly explained. 4) Staffing includes the sub-functions of manpower planning, recruitment, selection, training, and performance appraisal. The recruitment and selection processes are summarized.

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0% found this document useful (0 votes)
385 views25 pages

Entrepreneurship 2.0

This document provides an overview of management concepts including: 1) Definitions of management, its characteristics, nature, functions and levels. The four functional areas of management are also described. 2) Planning is introduced as a management function, including its importance, types, and steps. Decision making and its types are also summarized. 3) Organizing is defined and the steps, nature, and principles of organizing are outlined. Departmentation and types of organization structures are briefly explained. 4) Staffing includes the sub-functions of manpower planning, recruitment, selection, training, and performance appraisal. The recruitment and selection processes are summarized.

Uploaded by

cressida.bme24
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We take content rights seriously. If you suspect this is your content, claim it here.
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B.

E ( Information Technology)
Eighth Semester

090E802- Open Elective -IV

ENTREPRENEURSHIP
Lecture Notes
UNIT-I

Management
Meaning:
According to Follet Management is ‘the art of getting things done through people’.
According to George R.terry Management is a process consisting of planning, organizing,
actuating and controlling performed to determine and accomplish the objectives by the use of
people and resources.
There are four views of management
1) Management is a process
2) Management is a discipline
3) Management is a human activity
4) Management is a career.

Characteristics of Management
The following are the characteristics of management
1) Management is a continuous process
2) Management is an art as well as science
3) Management aims at achieving predetermined objectives
4) Management is a factor of production
5) Management is decision making
6) Universal application
7) Management is needed at all levels
8) Management aims at maximum profit
9) Dynamics
10) Management as a career
11) Management is a profession
12) Management is a discipline

Nature of Management
The nature of management can be described as follows.
1) Multidisciplinary
2) Dynamic nature of principles
3) Relative not absolute principles
4) Management - science or art
5) University of management
Management Functions
The Five Main(1-5) plus two additional (6-7) functions of management are
1) Planning
2) Organizing
3) Staffing
4) Directing
5) Controlling
6) Innovation
7) Representation

Functional Areas of Management


There are four functional areas of management
1) Production (purchasing, Materials mgt, R &D)
2) Marketing (Advertising, Marketing Research, Sales Management)
3) Finance and Accounting (Financial Accounting, Management A/c, Costing, Investment
mgt, Taxation)
4) Personnel

Recruitment and Selection


Training and Development
Wage and Salary Administration
Industrial Relations

Management and Administration


The term Administration and Management are used synonymously. There are three approaches,
1) Administration is above management
2) Administration is part of management
3) Management and Administration are same

Role of Management
There are three roles of management/manager.
1) Interpersonal Role
2) Informative Role
3) Decisional Role

Levels of Management
There are three levels of management
1) Top Management
2) Middle Management
3) Lower/Supervisory

Top Board of Directors, Chairman, CEO

Middle Department Heads, Division/Section Heads


Lower Front line Supervisors

Levels of Management

Evolution of Management
Early management approaches:
Taylor’s Scientific Management
Henry Fayol’s Administrative Management
Human Relations Approach
Modern Mangement Approaches:
Behavioral Approach
Quantitative Approach
Systems Approach
Contingency Approach
UNIT-II

Planning
Meaning
According to Koontz and O Donnel “Planning is deciding in advance what to do, how to
do it, when to do it, and who is to do it”. It bridges the gap from where we are and to where we
want to go. It is in essence the exercise of foresight.

Nature of Planning
Planning: A Relational Approach
Planning: An Open System Approach
Flexibility of planning
Pervasiveness of planning

Importance of Planning
Planning is of great importance in all types of organization whether business or non-business,
private or public, small or large. Planning is important because of the following reasons.
 Primacy of planning
 To minimize risk and uncertainty
 To focus attention on objectives
 To facilitate control
 To increase organizational effectiveness

Types of Planning
 Corporate and functional planning
 Strategic and operational planning
 Long and short term planning
 Proactive and reactive plans
 Formal and informal planning
Types of plans
Single use plans – for non-repetitive activities
Standing plans – for repetitive activities

Steps in Planning
The steps generally involved in planning are as follows.
1) Establishing goals/objectives
2) Establishing planning premises
3) Deciding the planning period
4) Identification of alternatives
5) Evaluation and selection of alternatives
6) Developing derivative/supportive plans
7) Measuring and controlling the process

Decision Making
Decision making is an essential part of modern management; whatever a manager does he does
by making decisions.

Types of Decisions
 Programmed and non-programmed decisions
 Major and minor decisions
 Simplex and complex decisions
 Strategic and tactical or operational decisions
 Individual and group decisions
The following steps are involved in the process of decision making
1) Recognizing the problems
2) Deciding priorities among the problems
3) Diagnosing the problems
4) Developing alternative solutions or courses of alternatives
5) Evaluating alternatives
6) Converting the decision into effective action and follow up action

Meaning and Definition of Organizing


The word organization is also used widely to connote a group of people and the structure of
relationships.
1) Organization as a group of persons
2) Organization as a structure of relationship
3) Organization as function of management
4) Organization as a process

Steps in Organizing
Organization involves the following interrelated steps.
1) Consideration of objectives
2) Identification and grouping of activities
3) Assignment of duties
4) Delegation of authority
Nature of Organization
The nature of organization can be highlighted by the following features
1) Organization is always related to certain objectives
2) An organization connotes a group of people
3) Communication is the nervous system of organization
4) Organizing is a basic function of management
5) Organization is a continuous process
6) Organization connotes a structure of relationships
7) Organization involves a network of authority and responsibility relationship.

Organization Structure
An organization structure shows the authority and responsibility relationship between the various
positions of the organization by showing who reports to whom.

Purpose of Organization
Organization is essential for the following purposes
1) To facilitate pattern of communication
2) To allocate authority and responsibility
3) To locate decision centers
4) To create proper balance
5) To stimulate creativity
6) To encourage growth
7) To make use of technological improvements

Principles of Organization
The principles of organization are
1) Objectives
2) Specialization
3) Span of control
4) Exception
5) Scalar principle
6) Unity of command
7) Delegation
8) Responsibility
9) Authority
10) Efficiency
11) Simplicity
12) Flexibility
13) Balance
14) Unity of direction
15) Personal abilities

Departmentation
The horizontal differentiation of tasks or activities into discrete segments is called as
Departmentalization or Depar mentation.
Depart mentation involves grouping of operating tasks into jobs, combining of jobs into effective
work group and combining of groups into divisions often termed as departments.
Different types
1) Depart mentation by functions
2) Depart mentation by product
3) Departmentation by customers
4) Departmentation by territory
5) Departmentation by process

Types of Organization
1) Line, military or scalar organization
2) Functional organization
3) Line and staff organization
4) Committee organization

Delegation of Authority
A manager in an enterprise cannot do all the tasks necessary for the accomplishment of group
goals. He therefore assigns some part of his work to his subordinates and grants them necessary
authority to make decisions within the area of their assigned duties. This downward pushing of
authority to make decisions is known as delegation of authority.
Various issues are
Centralization and Decentralization
Delegation vs Decentralization
Management by Objectives (MBO)

Staffing
The staffing function performs the following sub functions
1) Manpower planning
2) Recruitment
3) Selection of the best qualified from those who seeks job.
4) Training and development
5) Performance appraisal and compensation.
Nature and Importance of Staffing
The various reasons which have increased the significance of staffing functions are
1) Increasing size of organization
2) Advancement of technology
3) Long range needs of manpower
4) Recognition of human relation.

Recruitment
It is the process of identifying the sources for prospective candidates and to stimulate them to
apply for the Jobs.
It can be from
Internal sources
External sources

Selection
The process of selection leads to Employment of persons having the ability and
qualifications to perform the jobs which have fallen vacant in an organization.
The basic purpose of selection is to choose the right person for the right Job.

Steps Involved in selection process


The following steps are involved in the selection process.
1) Receipt of Applications
2) Screening of Applications
3) Employment tests
4) Interviews
5) Background Investigation and Medical Examination.
6) Final Selection.
UNIT-III
Meaning and Nature of Direction
According to Koontz and O‟Donnel “Direction is a complex function that includes all
those activities which are designed to encourage subordinates to work effectively and
efficiently in both the short and long term”.
There are three elements of direction namely Communication, Leadership and
Motivation.

Principles of Directing
The following principles of directing may be useful to a manager.
1) Harmony of objectives
1) Unity of direction or command
2) Direct supervision
3) Effective communication
4) Follow through

Leadership and Leadership Styles


According to Koontz and O‟Donnel “Leadership is generally defined as influence,
the art of process of influencing people so that they will strive willingly towards the
achievement of group goals”.
“Leadership is the ability to secure desirable actions from a group or followers
voluntarily without the use of coercion”.
The leaders while influencing the subordinates perform the following functions:
1) Taking initiative
1) Guide
2) Representation
3) Encouraging others
4) Arbitrator and mediator
5) Planner
6) Administrator of rewards and punishments.

Leadership Styles
Leadership styles are the patterns of behaviour which a leader adopts in influencing
the behaviour of his followers/subordinates.
These styles are based on
1) Behavioural approach
a) Power generation
b) Leadership as a continuum
c) Employee - production orientation
d) Likert‟s management system
e) Managerial grid
f) Tri-dimensional grid
2) Situational Approach
a) Fiedler‟s contingency model
b) Hursey and Blanchard‟s situational model
c) path-goal model
3) Motivation
a) Positive
b) Negative
4) Authority
a) Autocratic leadership
b) Democratic leadership
c) Free- reign

Motivation
Motivation is inspiring the subordinates to contribute with zeal and enthusiasm
towards organizational goals.
Performance of an employee depends on two factors, ability to work and willingness
to work.
Performance=Ability X Willingness
Motivation is enhancing the willingness to work which improves the performance.

Motivational Theories
1) Maslow‟s Need Hierarchy Theory
2) Hertz berg‟s Two factors Theory
3) Vroom‟s Expectancy Theory
4) Adam‟s Equity Theory
5) Mcclelland‟ s Need Theory
6) Carrot and stick Approach
7) Skinner‟s Reinforcement Theory.

Communication
Communication is defined as the process of Exchange of information, ideas and
opinions which bring about integration of interests aims and Efforts among the members of a
group organized for achievement of predetermined goals.

Communication Process
Communication process involves the sender, the transmission of a message through a
selected channel and the receiver as shown in Fig. below.
Feedback

Thought Encoding Transmission Reception Decoding Understanding


of message

Noise

A Communication process model.


Three main blocks
1) Sender of the message
2) Use of channel to transmit the message
3) Receiver of the message

Noise and Feedback in Communication


Communication is affected by „noise‟ which is Anything whether in the sender, the
transmission or the receiver that hinders communication.
To check the Effectiveness of communication, a person must have feedback one never
is sure whether or not a message is correctly encoded, transmitted and decoded or understood
until it is confirmed by feedback.

Importance of Communication
The purpose of communication is to effect change, to influence action towards the
welfare of the Enterprise. It integrates managerial function.
Communication is important because of the following
1) Every aspect of Manager‟s Job involves communication.
2) Managers do not deal with „things‟but with information about things.
3) Decisions taken at top managementlevel serve no purpose unless it is successfully
communicated downwards.
4) Communication is the basis for direction and leadership.
5) Communication renders the complexity of business intelligible and workable.
6) The better the communication the more Efficient the work performance.

Channels of Communication
A channel of communication is a path through which information flows throughout
the organization.
The numerous channels used in the organization constitute its communication
network.
The channels of communication are divided into two types
1) Formal channel – the paths of communication which are deliberately created and
officially recognized connecting various positions in the organization hierarchy are
called as formal channels.
2) Informal channel- the path of communication which is not officially created is known
as informal channel.
People who know each other talk together informally about the happenings in the
organization.

Types of Communication
Based on the direction of flow of information communications are classified as
1) Downward communication: Communication flows from people at higher level to
those at the lower levels in the organizational hierarchy.
To communicate policies, procedures, programs and objectives and to issue
orders and instructions to subordinates
2) Upward communication: Travels from subordinates to superiors
Ex: Replies, suggestions etc.
3) Horizontal communication: It refers to transmission of communication at the same
level.

Forms of Communication
There are three forms of communication.
1) Oral communication: communication takes place directly either face to face, or
through telephone or in meetings, conferences etc.
2) Written communication: communication in the form of a report, statement, circular,
letter, memo etc.
3) Non-verbal communication: communication is expressed through the body, facial
expression, postures, gestures etc.
COORDINATION
According to Terry “Coordination deals with the task of blending efforts in order to
ensure successful attainment of an objective”. It is accomplished by means of planning,
organizing, directing and controlling.

Coordination and Cooperation


Coordination is an orderly arrangement of group efforts to provide unity of action in the
pursuit of common objectives.
Cooperation denotes the collective efforts by the persons working in the enterprise
voluntarily for accomplishing a particular purpose.
Techniques of Coordination
1) Clearly defined objectives
2) Effective chain of command
3) Precise and comprehensive programmes and policies
4) Planning
5) Co-operation
6) Liaison of officers /Departments
7) Induction
8) Incentives
9) Workflow

Managerial Control
Control is an important process in management.
According to EFL Brech “Control is checking current performance against predetermined
standards contained in the plans, with a view to ensuring adequate progress and satisfactory
progress”.
In the words George. R. Terry “Controlling is determining what is being accomplished, that
is evaluating the performance and if necessary applying corrective measures so that the
performance takes place according to plans “.

Steps in a Control Process


There are three basic steps in a control process
1) Establishment of standards
2) Measuring and comparing actual performance with standards.
3) Taking corrective action.

Control methods
Two types
1) Past-oriented controls
2) Future-oriented controls.
UNIT-IV

Evolution of Concept Of Entrepreneur


The word entrepreneur is derived from French word ' Entre Prendre' which was
used to designate an organizer of musical or other Entertainments. it was extended to
cover civil engineering activities. But it was Richard Cantillon who first used the term
entrepreneur to refer to Economic activities. According to Cantillon " An Entrepreneur
is a person who buys factor services at certain prices with a view to selling its product at
uncertain prices. Entrepreneur according to Cantillon is a bearer of risk, which is non-
insurable.

Concept Of Entrepreneur
The word entrepreneur is used in various ways and views. These views are
broadly classified into three groups namely risk bearer, organizer and inventor.
Hence the concept of entrepreneurship is associated with three elements risk bearing,
organizing and innovating. Hence an Entrepreneur can be defined as a person who tries to
create something new organizes production and undertakes risk and handles economic
uncertainty involved in enterprise.
Hence an entrepreneur can be a change agent, and having a character who combines
innovativeness, readiness to take risks, setting opportunities, identifying and mobilizing
potential resources, Concern for Excellence and who is persistent in achieving the goal.

Characteristics Of Entrepreneur
An Entrepreneur needs to possess the following entrepreneurial characteristics
 Initiative
 Perceiving opportunities
 Persistence
 Information gathering
 Concern for quality work
 Commitment to contractual obligations
 Efficiency orientation
 Planning
 Problem solving ability
 Self confidence
 Experience
 Self- critical
 Persuasion
 Use of influence strategies
 Assertiveness
 Monitoring
 Credibility etc.

Distinction Between Entrepreneur And Manager


 An Entrepreneur starts his venture whereas a manager renders service in an
Enterprise already set up by someone else.

 An Entrepreneur is the owner of his enterprise whereas a manager is an employee.

 An Entrepreneur bears risk and uncertainity whereas a manager does not bear any
risk.

 An Entrepreneur is rewarded with profits which are highly uncertain and not
fixed. A manager gets salary which is fix and certain.

 An Entrepreneur is free to take his own decisions and implement them, whereas
manager cannot take independent decisions.

Technical Entrepreneur
Even though there is no necessity for an entrepreneur to have technical education
background those having are at advantage especially when they want to start a Technical/
Engineering Enterprise.

A Technically qualified and experienced person can make a more competent


entrepreneur as he acquires special knowledge of Science, Engineering Materials and
machines, production planning and control, Manufacturing Technologies and
Management techniques for successful launching and smooth running of an industrial
unit.

A Technical entrepreneur develops characteristics of quality consciousness


adoption of modern technology and management technique and realization of the
importance of research and innovation for productivity improvement.

Charms Of Being An Entrepreneur


The most exciting part of being an entrepreneur is that you are your own master.
when you are an employee, you work for others according to their plans, whims and
Fancies. Being an entrepreneur it is you who set the goal, plan the action reap the
satisfaction and rewards of having achieved the goal.
Functions Of An Entrepreneur
An entrepreneur has to perform a number of functions right from the generation
of Idea up to the establishment of an enterprise.
He has to perceive business opportunities and mobilize resources like manpower, finance,
machinery, materials, etc.,

The following are the main functions of an entrepreneur


1. Idea generation
2. Determination of business objectives
3. Raising of funds
4. Procurement of machines and materials
5. Market research
6. Determining form of enterprise
7. Recruitment of manpower
8. Implementation of the project

Types Of Entrepreneurs
Entrepreneurs are classified in a number of ways
1. Danhof's classification
a) Innovative entrepreneurs
b) Adaptive or initiative entrepreneurs
c) Fabian entrepreneurs
d) Drone entrepreneurs

2. Arthur H cole Classification


a) Empirical entrepreneur
b) Rational entrepreneur
c) Cognitive entrepreneur

3. classification based on the scale of enterprise


a) Small scale
b) Large scale

4.Other classification
 Solo operators
 Active partners
 Inventors
 Challenge
 Buyers
 Life timers
 Industrial entrepreneurs
 Service entrepreneurs
 Business entrepreneurs
 Agricultural entrepreneurs
 Corporate entrepreneurs
 Rural entrepreneurs
 Women entrepreneurs

Intrapreneurs
The top executives in the organization are encouraged to catch hold of new ideas
and then convert them into products through R and D activities within the framework of
organizations.

Ultrapreneurs
Today's entrepreneurs need to have different mindset about establishing and
operating a company. This mindset is called ultrapreneuring. According to James B
Arkebaur, the concept of ultra preneuring is to identify business opportunity, determine
its viability and form a company.

Concept Of Entrepreneurship

"Entrepreneurship is the attempt to create value through recognition of business


opportunity, the management of risk taking appropriate to the opportunity and through
the communicative and management skills to mobilize human, financial and material
resources necessary to bring a project to fruition."

Entrepreneur Entrepreneurship Enterprise

Person Process & Action object

Concept Of Entrepreneurship

The diagram shows the relationship between entrepreneur, Entrepreneurship and


Enterprise.
Role Of Entrepreneurship In Economic Development
Economic development essentially means a process of upward change whereby
the real per capita income of a country increases for a long period of time.

The important role that entrepreneurship plays in the economic development of an


economy can be put in a more systematic manner as follows:
1. Entrepreneurship promotes capital formation by mobilizing the ideal savings of
the public.
2. It provides employment.
3. It provides regional development in the country.
4. It helps reduce the concentration of the economic power.
5. It simulates the equitable redistribution of wealth, income and even political
power in the interest of the country.
6. It encourages effective resources mobilization of capital and skill.
7. It also induces backward and forward linkages which simulate the process of
economic development in the country.
8. It promote country's export trade which is an important ingredient for economic
development.

Stages In The Entrepreneurial Process


Entrepreneurship is a process of comprising several distinct stages.

The first stage in the entrepreneurial process is some change in the real world for
example a war or any disaster, such a change leads to changes in every aspect of life in
the country. It creates need for new goods and services. A country rebuilds industry from
scratch.

The second stage in the entrepreneurial development is the idea. it was the idea that is
perceived by entrepreneurs which help them in building businesses.

One may become entrepreneur by starting a new enterprise or he may acquire a franchise.

Barriers to Entrepreneurship
A large number of entrepreneurs particularly in the small Enterprises fail due to
several problems and barriers. The greatest barrier to entrepreneurship is the failure of
success.
Karl. H. Vesper has identified the following entrepreneurship barriers:
1. Lack of viable concepts.
2. Lack of market knowledge.
3. Lack of technical skills.
4. Lack of seed capital.
5. Lack of business know how.
6. Complacency -lack of motivation.
7. Social stigma.
8. Time presence and distraction.
9. Legal constraints and regulations.
10. Monopoly and protectionism.
11. Inhibition due to patents.
UNIT-V
Meaning Of Project
A project can be defined as a scientifically evolved work plan devised to achieve
a specific objective within a specified period of time.
Project can differ in their size, nature of objectives, time duration and complexity.
However projects partake of the following three basic objectives:
i. A course of action
ii. Specific objectives and
iii. Definite time perspectives
Every project has starting point and ending point with specific objectives.

Project Classification
The following are some of the important classification of projects
i. Quantifiable and non quantifiable projects
ii. Sectional projects
iii. Techno Economic project

Project Identification
Indenting entrepreneurs always are in search of project having a good market.

Idea Generation
The process of project selection starts with Idea generation. In order to select most
promising and profitable project the entrepreneur has to generate large number of Ideas
about the possible projects he can take. Project ideas can be discovered from various
sources.

Project Selection
Project selection starts once the entrepreneurs has generated few ideas of project.
After having some ideas, these project ideas are analyzed in the light of existing
economic conditions, market conditions and the government policy and so on. For this
purpose a tool is generated what is called SWOT analysis.

Product

Raw material
Ownership

Location Market

Labour
working Capital

Total Investment

fig: Independent aspects of Projects


Meaning And Significance Of Project Report
A project report is a written statement of what an entire entrepreneur proposes to
take up. It is a kind of guide and first course of action what the entrepreneur hopes to
achieve in his business and how is he going to achieve it.

A project report can be defined as a well evolved course of action devised to


achieve the specific objectives within a specified period of time. it is like an operating
document. The preparation of project report is of great significance for an entrepreneur. It
serves two purposes, first it serves as a road map , it describes the direction the enterprise
is going on, what its goals are, where it wants to be and how it is going to get there.

The second purpose of the project report is to attract lenders and investors.
Contents of a project report
A good project report should contain the following:
 General information
 Promoter information
 Location details
 Land and building details
 Plant and machinery requirements
 Production process
 Utilities
 Transport and communication
 Raw material requirement
 Manpower requirement
 Product details
 Market
 Requirement of working capital
 Requirement of funds
 Cost of production and probability of first 10 years
 Break even analysis
 Schedule of implementation

Formulation Of Project Report


Project formulation divides the process of project development in eight distinct
and sequential stages
1. General information
 Bio -data of promoter
 Industry profile
 Construction and organization
 Product details
2. Project description
 Site location
 Physical infrastructure (machinery, raw materials, skilled labour, utilities,
pollution control, communication and transport
facility)
3. Market potential
 Demand supply position
 Expected price
 Marketing strategy
 After sales service
4. Capital costs and sources of finance
5. Assessment of working capital
6. Other financial aspects
7. Economical and social variables
8. Project implementation

Planning Commission Guidelines


In order to process investment proposals and arrive at investment decisions, the
planning commission has issued guidelines for preparing / formatting industrial projects.
The guidelines have been summarized as follows:
1. General information
2. Preliminary analysis of alternatives
3. Project description
4. Marketing plan
5. Capital requirements and cost
6. Operating requirements and cost
7. Financial analysis
8. Economic analysis

Identification Of Opportunity
Opportunities according to Draker are of three kinds
1. Additive opportunity - Enable the decision maker to better utilize the existing
resources without any way involving a change in the character of business.

2. Complementary opportunity- Involve the introduction of new ideas as ideas and


as such lead to certain amount of change in the existing structure.

3. Breakthrough opportunity- Involve fundamental changes in both the structure and


the character of business.

Project Feasibility Study


It is carried out to ensure viability of project, it comprises
1. Market feasibility
2. Technical feasibility
3. Financial feasibility
4. Economic feasibility
5. Ecological feasibility
ASSIGNMENT QUESTIONS
UNIT-I
1. Explain the characteristics and nature of management.
2. Describe the functional areas of management.
3. Write a note on management and administration.
4. Analyze the three levels of management
5. Trace the Evolution of management.

UNIT-II
1. Discuss the nature and importance of planning.
2. Write a note on different types of planning.
3. Illustrate the different steps involved in the planning process.
4. Explain in detail the decision making process.
5. Write a note on nature, process and structure of organization.
6. Explain the need for delegation of authority in an organization.
7. Describe the staffing and recruitment process.

UNIT-III
1. Explain the meaning, nature and principles of directing.
2. What is the importance of leadership ?Explain different leadership styles.
3. Explain what is motivation, and different motivational theories.
4. Explain the role of communication in the successful running of an organization.
5. What are the different types and forms of Communication. ? Explain
6. Explain about co-ordination and co-operation.
7. Explain the steps involved in managerial control.

UNIT-IV
1. Explain the concept and evolution of entrepreneur.
2. Describe the characteristics of an entrepreneur.
3. Explain the functions of an entrepreneur.
4. What are the different types of entrepreneur.? Explain
5. Describe the role of entrepreneurship in the economic development of a country.
6. What are the barriers to entrepreneurship? Explain.
7. What are the different stages in entrepreneurial process ? Explain.
8. Outline the role of entrepreneurship development cell (EDC) in a technical institution
UNIT-V
1. Write a note on product classification.
2. Illustrate the various steps in the process of project identification.
3. Explain the significance of a project report.
4. Describe the contents of a project report.
5. Explain the steps in formulation of a project report.
6. Write a note on planning commission guidelines.
7. Explain the various aspects of project feasibility study.
8. Describe a startup idea of your own.

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