Q1.

Solve any 5 joining groups, or using social media and other online
platforms to connect with others in the industry.
a) Define entrepreneur, entrepreneurship and
enterprise. • Entrepreneur: an individual who identifies a h) List two ways an entrepreneur can prevent
business opportunity and takes on the risk and business failure Two ways an entrepreneur can
responsibility of starting and running a business venture. prevent business failure: 1. Conduct market research and
• Entrepreneurship: the process of creating or starting a test the viability of the business idea before investing
new business venture or developing an existing one, often significant resources or launching the business. 2.
involving innovation and risk-taking. • Enterprise: a Maintain financial discipline and regularly monitor and
business or organization established to provide goods or manage cash flow to ensure the business has adequate
services to customers, typically with the goal of funds to operate and grow.
generating a profit.
Q2) Solve any two.
b) Define innovative entrepreneur • Innovative
a) Examine the role of SISI in Entrepreneurship
entrepreneur: An entrepreneur who introduces new or Development. SISI, or Small Industries Service
improved products, services, or processes to the market,
Institute, is a government organization in India that
often through creative thinking and problem-solving. provides support and assistance to entrepreneurs and
c) Expand N-Ach./N-pow./N-Aff./N-Aut. • N-Ach: small business owners in developing and growing their
Need for Achievement, a psychological concept referring businesses.
to an individual's desire for success, accomplishment, and SISI plays an important role in entrepreneurship
the attainment of challenging goals. • N-Pow: Need for
development by offering a range of services and resources
Power, a psychological concept referring to an to entrepreneurs, including:
individual's desire to influence, control, or have an impact
on others. • N-Aff: Need for Affiliation, a psychological 1. Entrepreneurship training: SISI provides training
concept referring to an individual's desire to establish and programs and workshops to help aspiring entrepreneurs
maintain positive relationships with others. • N-Aut: Need develop the skills and knowledge needed to start and
for Autonomy, a psychological concept referring to an manage a successful business.
individual's desire for independence, freedom, and control 2. Market research and analysis: SISI conducts market
over their own life and work. research and provides entrepreneurs with information
d) Define business model. Business model: a plan or about the demand for their products or services, as well as
strategy for how a company will generate revenue and insights into market trends and competition.
make a profit. It typically outlines the company's target 3. Financial assistance: SISI offers guidance on funding
customers, value proposition, revenue streams, cost options and helps entrepreneurs access loans and other
structure, and key resources and partnerships. financial resources to support their businesses.
4. Technical support: SISI provides technical support
e) What is social sector? Social sector: a term used to and assistance to entrepreneurs in areas such as product
describe organizations and businesses that aim to address development, quality control, and technology adoption.
social or environmental issues, often using a nonprofit or 5. Networking and collaboration: SISI facilitates
social enterprise model. Examples include charities, networking and collaboration among entrepreneurs,
NGOs, and social enterprises. providing opportunities for them to connect with potential
f) What is mobility of entrepreneurs. Mobility of partners, customers, and suppliers. Overall, SISI plays an
entrepreneurs: the ability of entrepreneurs to move easily important role in creating a supportive environment for
between different locations, often in search of new entrepreneurship development in India, particularly for
business opportunities, resources, or markets. This can small businesses that may otherwise lack the resources
refer to physical mobility or the ability to connect and and support they need to succeed. By providing a range of
network with others in different locations using services and resources to entrepreneurs, SISI helps to
technology. promote innovation, create jobs, and drive economic
growth.
g) Define Networking in business Networking in
business: the practice of building and maintaining b) Compare and contrast between network and
relationships with other individuals and organizations in alliances in business.
order to gain information, resources, and support for Both networks and alliances are important ways for
business purposes. This can involve attending events, businesses to collaborate and work together towards

1
shared goals. However, there are some key differences 3. Risk management: This refers to the ability to assess
between these two concepts. and manage risk, and to make informed decisions about
when to take risks and when to avoid them.
Networks refer to a group of individuals, businesses, or
organizations that are connected through a variety of 4. Resource management: This involves the ability to
relationships, such as personal connections, shared effectively manage and allocate resources, such as time,
interests, or professional affiliations. Networks can be money, and personnel, to achieve business objectives.
informal, such as social networks or industry associations,
5. Networking and collaboration: This refers to the
or formal, such as business incubators or accelerator
ability to build and maintain relationships with other
programs. The goal of a network is typically to share
individuals and organizations, and to collaborate
knowledge, resources, and support to help members effectively to achieve shared goals.
achieve their individual goals.
6. Leadership and management: This involves the
Alliances, on the other hand, are formal partnerships
ability to lead and manage teams, to communicate
between two or more businesses that come together to effectively, and to inspire and motivate others.
achieve a specific objective, such as a joint marketing
campaign or a collaborative research and development 7. Resilience and adaptability: This refers to the ability
project. Alliances are typically more structured than to persevere in the face of challenges and setbacks, to
networks, with clear guidelines and expectations for each learn from failures, and to adapt to changing
partner's roles and responsibilities. The goal of an alliance circumstances. Overall, entrepreneurial competencies are
is usually to create a competitive advantage by leveraging essential for individuals who want to start and grow
the strengths and resources of each partner. successful businesses. By developing and strengthening
these competencies, entrepreneurs can improve their
In terms of their benefits and drawbacks, networks can
chances of success and overcome the many challenges
offer a more flexible and informal approach to and obstacles that are inherent in the entrepreneurial
collaboration, allowing businesses to tap into a wider
journey.
range of resources and expertise. However, networks may
lack the structure and focus of an alliance, and may not be
as effective at achieving specific goals.
Alliances, on the other hand, offer a more structured and Q3) Solve any one.
focused approach to collaboration, but may be more
limited in terms of the resources and expertise available. a) The Social Entrepreneurs are governments’ best
Overall, the choice between networks and alliances will friend-Evaluate the statement.
depend on the specific goals and needs of the businesses The statement "The Social Entrepreneurs are
involved. governments’ best friend" can be evaluated from different
Both approaches can be effective in fostering perspectives. On one hand, social entrepreneurs can be
collaboration and driving business success, and seen as a valuable asset for governments in addressing
businesses may choose to use both strategies depending social and environmental issues.
on the situation. Social entrepreneurs often operate in areas where
c) Write in your own words - Entrepreneurial governments have not been able to provide adequate
Competencies. solutions or where public services are lacking. Social
entrepreneurs can bring innovative and effective solutions
Entrepreneurial competencies refer to the skills, traits, to social problems, and they can also work with
and behaviors that are required for individuals to communities and stakeholders to create long-term
successfully identify and exploit business opportunities, sustainable change. In addition, social entrepreneurs can
create and grow new ventures, and navigate the also create jobs, promote economic growth, and
challenges of entrepreneurship. These competencies can contribute to the development of local economies.
be categorized into several different areas, including:
This can be particularly valuable for governments that are
1. Opportunity recognition: This refers to the ability to looking to promote economic development in specific
identify and evaluate business opportunities, and to regions or industries. On the other hand, social
determine which opportunities are worth pursuing. 2. entrepreneurs may not always align with the interests or
Innovation: This involves the ability to create and priorities of governments.
develop new products, services, or processes that offer
unique value to customers and differentiate the business Some social entrepreneurs may be critical of government
from competitors. policies and may advocate for alternative approaches to
addressing social and environmental problems.
2
Additionally, social entrepreneurs may not always have a) Discuss the Theory of Profit by Knight, Theory of
the resources or capacity to scale their solutions to a level Social change by Everett Hagen. Cite examples
that can have a significant impact. supporting the theories.
b) Illustrate the Objectives of The National Institute Theory of Profit by Knight: The Theory of Profit by
for Entrepreneurship and small business Development Frank H. Knight is based on the concept of risk-taking by
(NIESBUD) for Entrepreneurship Development entrepreneurs. Knight argues that profits are the reward
for taking on uncertainty and risk in business ventures.
The National Institute for Entrepreneurship and Small
According to Knight, entrepreneurs invest their resources
Business Development (NIESBUD) is an apex
in uncertain projects, which may or may not yield profits.
organization established by the Ministry of Skill
Development and Entrepreneurship, Government of Therefore, the profit is the compensation that
entrepreneurs receive for bearing the risk of uncertainty in
India, to promote entrepreneurship and small business
development in the country. The objectives of NIESBUD their business ventures. Knight's theory also emphasizes
the importance of information in decision-making, as
for entrepreneurship development are as follows:
entrepreneurs must have access to information that helps
1. To provide training and education: NIESBUD aims them make informed decisions in uncertain situations.
to provide training and education programs to aspiring
Example: A classic example of the theory of profit is the
entrepreneurs and small business owners. These programs
are designed to impart knowledge and skills related to success story of Steve Jobs and Apple. Steve Jobs took a
risk by investing in a new and innovative product line,
various aspects of entrepreneurship, such as business
planning, marketing, financial management, and legal the personal computer, which was not yet widely accepted
at that time. However, he was able to create a successful
compliance.
business venture by taking on the uncertainty and risk
2. To promote entrepreneurship culture: NIESBUD associated with the technology. The profits he received
seeks to promote an entrepreneurship culture in the were the compensation for taking on the uncertainty and
country by encouraging and supporting entrepreneurial risk of a new product line in a nascent market.
activities. The institute organizes various events,
Theory of Social Change by Everett Hagen: The
workshops, and seminars to promote entrepreneurship
Theory of Social Change by Everett Hagen is based on the
and create awareness about the benefits of starting a small
concept of cultural evolution. Hagen argues that social
business.
change occurs as a result of cultural adaptation to new
3. To provide consultancy services: NIESBUD offers circumstances. According to this theory, cultures are not
consultancy services to entrepreneurs and small business static but constantly evolving, and they adapt to new
owners in areas such as project identification, technology environments or situations. Hagen identified four stages
selection, market research, and export promotion. These of cultural evolution: survival, growth, expansion, and
services are aimed at helping entrepreneurs make decay. In each stage, cultures must adapt to new
informed decisions and achieve their business goals. circumstances and overcome challenges in order to
4. To provide incubation support: NIESBUD provides survive.
incubation support to start-ups and small businesses by Example: An example of the Theory of Social Change is
offering facilities such as office space, training, the evolution of the music industry. The introduction of
mentoring, and networking opportunities. This support is new technologies such as the internet a
aimed at helping entrepreneurs establish and grow their
businesses in a conducive environment. nd digital music players has disrupted the traditional
music industry. However, the industry has adapted to
5. To promote international cooperation: NIESBUD these changes by shifting its focus to digital sales,
aims to promote international cooperation in the field of streaming services, and live performances. This
entrepreneurship and small business development. The adaptation has enabled the industry to survive and even
institute collaborates with international organizations, thrive in the face of new challenges, demonstrating the
governments, and academic institutions to exchange importance of cultural adaptation in social change.
knowledge, expertise, and best practices related to
entrepreneurship. Overall, the objectives of NIESBUD b) Evaluate the opportunities available in case of
Export Oriented Units (EOU) with reference to
are to promote entrepreneurship, facilitate the
development of small businesses, and create a conducive support by Government agencies Export Oriented
Units (EOUs) are business entities that are set up in
ecosystem for entrepreneurial growth in the country.
India with the sole objective of producing goods and
Q4) Solve any one. services for export.

3
These units enjoy several benefits and opportunities, His quirky designs and their popularity with shoppers
including support from Government agencies. Below are have come to the attention of Manish, who runs a
some of the opportunities available in case of EOUs with relatively large factory producing puppets and other
reference to support by Government agencies: tourist-friendly wares. Manish approaches Amit to
1. Financial support: EOUs are eligible for several suggest that he buy his enterprise, including his designs,
and that Amit and his employees all come and work at
financial incentives such as capital subsidies, interest rate
subsidies, and reimbursement of central and state taxes. Manish’s factory. He is offering a lot of money, and Amit
doesn’t know whether he wants to maintain his
These incentives are provided to encourage the growth of
exports and to make Indian products competitive in the independence or go for the security offered by a lump cash
sum and guaranteed employment. He uses a SWOT
global market. The Government of India also provides
financial support to EOUs for developing and upgrading analysis to take a snapshot of his current situation and help
him consider the decision: Read through the case study
infrastructure, which can include roads, power, water
and develop a SWOT Analysis for Amit’s business
supply, and telecommunication facilities.
decision. SWOT Analysis for Amit's business decision:
2. Simplified procedures: EOUs are allowed to import Strengths:
capital goods and raw materials duty-free. They are also
exempted from paying sales tax, central excise duty, and • Unique product designs and high popularity among
tourists
service tax on goods and services used for export
production. The Government has also simplified the • Strong collective of people with disabilities who are
procedures for export and import clearance for EOUs, loyal to Amit and his enterprise
which makes it easier for them to conduct business.
• Established supply chain through local shops in the area
3. Export promotion: The Government of India provides
• Strong personal connection with employees and
several export promotion schemes to EOUs, such as the community Weaknesses:
Export Promotion Capital Goods (EPCG) Scheme and the
Duty-Free Import Authorization (DFIA) Scheme. These • Limited financial resources and access to capital
schemes provide benefits such as the exemption of • Dependence on local shops for sales
customs duties and the provision of export incentives. The
Government also provides export credit insurance, which • Lack of resources and infrastructure for scaling
protects EOUs from losses arising from non-payment by production and expanding the enterprise Opportunities:
foreign buyers. • Potential for increased sales and revenue through
4. Technical support: EOUs can access technical support partnership with Manish's factory
from Government agencies such as the National Institute • Access to larger market through Manish's existing
of Design (NID), the National Institute of Fashion distribution network
Technology (NIFT), and the Indian Institute of Packaging
• Possibility for expanded production and resources with
(IIP). These agencies provide technical assistance in areas
the support of Manish's factory Threats:
such as product design, packaging, and quality control.
Overall, the opportunities available in case of EOUs with • Risk of losing independence and creative control over
reference to support by Government agencies are product designs
significant. The Government of India has implemented • Possibility of conflicts with Manish over business
several policies and schemes to encourage the growth of decisions and management
exports and to make Indian products competitive in the
global market. EOUs can take advantage of these policies • Uncertainty over job security and potential changes in
and schemes to enhance their competitiveness and expand working conditions for employees Overall, Amit's SWOT
their export markets. analysis highlights the potential benefits and drawbacks
of partnering with Manish's factory. While the partnership
Q5) Solve any one. may offer opportunities for increased revenue and access
a) Amit runs his own enterprise in an area on the to larger markets, it also poses a threat to Amit's
outskirts of Kota, Rajasthan. He manages a collective independence and creative control over the enterprise.
of people with disabilities who make Rajasthani Additionally, the potential impact on employees and
puppets in a traditional style, mainly selling to tourists working conditions must also be carefully considered.
through local shops, and pays them a basic salary as Ultimately, Amit will need to weigh the benefits and risks
well as a profit share. of the partnership and make a decision based on his
personal priorities and goals for the enterprise.
The puppets are all made to Amit’s own designs, and are
quite different to the standard items in most tourist stores.
4
b) Examine the role of EDII in Entrepreneurship
Development.
Q.1) Answer any 5 out of 8
The Entrepreneurship Development Institute of India 1. Entrepreneurship = Entrepreneur and Enterprise
(EDII) is a non-profit organization that was established in
1983 with the aim of promoting and supporting 2. Entrepreneur A risk-taker then Entrepreneurship is a
entrepreneurship development in India. Over the years, problem-solver.
EDII has played a crucial role in fostering 3. Dhirubhai Ambani and Elon Musk are the example of
entrepreneurship and developing the entrepreneurial entrepreneurial visionaries type of entrepreneur
ecosystem in India. Below are some of the key roles of
EDII in entrepreneurship development: 4. Conservative entrepreneurs that are very careful in
their approaches and cautious in adopting any changes.
1. Training and Capacity Building: EDII offers a wide
range of training and capacity building programs to 5. Achievement motivation an individual's desire for
aspiring entrepreneurs, including short term and long- significant accomplishment, mastering of skills, control,
term courses, workshops, and seminars. These programs or high standards.
cover various aspects of entrepreneurship, such as 6. Need for Achievement an individual's desire for
business planning, finance management, marketing, and significant accomplishment, mastering of skills, control,
innovation. EDII also provides training to trainers who or high standards.
can further spread the knowledge and skills of
7. Theory which discusses invention and innovation is
entrepreneurship in their respective regions.
called Innovation Theory
2. Research and Policy Advocacy: EDII conducts
8. NIESBUD and NEDB stands for National Institute for
research and analysis on various aspects of
Entrepreneurship and Small Business Development
entrepreneurship, such as the challenges faced by
and National Entrepreneurship Development Board
entrepreneurs, the impact of entrepreneurship on the
economy, and the policy environment for Q.2 Answer any 2 out of 3 Discuss
entrepreneurship development. Based on its research, A. Innovation Theory
EDII advocates for policies and measures that can support
the growth and sustainability of the entrepreneurial Innovation theory plays a significant role in entrepreneur
ecosystem. development. The theory suggests that innovation is the
key to entrepreneurship and successful businesses.
3. Incubation and Mentorship: EDII provides Entrepreneurs are individuals who identify opportunities
incubation support to startups and aspiring entrepreneurs, and take the risk to create new products, services or
including access to infrastructure, funding, and processes that are innovative and meet the needs of their
mentorship. The incubation support provided by EDII customers.
helps entrepreneurs to validate their business ideas, build
their network, and gain access to markets and resources. Innovation theory is based on the idea that businesses can
create value for their customers by developing new
4. Networking and Collaboration: EDII facilitates products and services that meet their changing needs.
networking and collaboration among entrepreneurs, Entrepreneurs use their creativity and knowledge to
investors, policymakers, and other stakeholders in the develop new and innovative ideas, products, or services
entrepreneurial ecosystem. This helps entrepreneurs to that will help them compete in the marketplace.
build their network, gain access to funding and resources,
and learn from the experiences of other entrepreneurs. Innovation theory suggests that entrepreneurs need to
have a deep understanding of their customers' needs and
5. International Partnerships and Exchanges: EDII preferences in order to create innovative solutions that are
collaborates with international organizations and relevant and valuable. They need to have a strong
institutions to promote entrepreneurship development and understanding of the market and the competition, and be
knowledge sharing. Through its partnerships and able to identify gaps or unmet needs that they can fill with
exchanges, EDII provides opportunities for entrepreneurs their new products or services.
to gain exposure to international markets, technologies,
and best practices. Overall, EDII has played a significant Innovation theory also emphasizes the importance of
role in promoting entrepreneurship development in India collaboration and knowledge-sharing in entrepreneurship.
through its various programs and initiatives. Its efforts Entrepreneurs can learn from each other and collaborate
have helped to create a conducive environment for to share ideas, knowledge and resources that will help
entrepreneurship and have contributed to the growth and them create more innovative products and services.
sustainability of the entrepreneurial ecosystem in India.
5
Furthermore, innovation theory highlights the importance such as motivation, leadership, and organizational culture.
of research and development in creating new and By doing so, firms can increase their productivity and
innovative products and services. Entrepreneurs need to competitiveness in the marketplace.
invest in R&D to stay ahead of the competition and to
C. Need of Achievement Theory
keep up with the changing needs of their customers.
The Need for Achievement (N-Ach) Theory is a
Governments and non-governmental organizations also
motivational theory that seeks to explain why some
play a role in promoting innovation and entrepreneurship.
individuals are more driven to succeed and achieve than
They can provide funding, resources, and support to
others. This theory was first introduced by psychologist
entrepreneurs to help them develop their ideas and bring
David McClelland in the 1960s and has since become one
them to market. They can also facilitate knowledge- of the most widely studied theories in the field of
sharing and collaboration among entrepreneurs, as well as
motivation.
provide training and education to help entrepreneurs
develop the skills they need to succeed. According to the theory, individuals with a high need for
achievement are motivated by the desire to excel, to
In conclusion, innovation theory is a key component of
overcome obstacles, and to accomplish challenging goals.
entrepreneur development. Entrepreneurs need to be They seek out situations in which they can test their skills
creative, knowledgeable, and willing to take risks to
and abilities, and they are more likely to take calculated
develop innovative solutions that meet the changing needs risks in order to achieve their objectives.
of their customers. Collaboration, knowledge-sharing,
and R&D are also critical to the success of entrepreneurs, Individuals with a high need for achievement also tend to
and governments and non-governmental organizations be more persistent and resilient in the face of setbacks or
can play a role in supporting entrepreneurship and failures. They are driven by internal factors such as
promoting innovation. personal satisfaction, rather than external rewards such as
money or status.
B. X- Efficiency Theory
The Need for Achievement Theory has important
X-Efficiency Theory is an economic theory that was
implications for individuals and organizations. For
developed by economist Harvey Leibenstein in the 1960s. individuals, understanding their own level of achievement
The theory focuses on the factors that contribute to
motivation can help them to set realistic goals, develop
efficiency in production processes, particularly in firms strategies for achieving success, and overcome obstacles
and organizations.
and setbacks. For organizations, identifying individuals
According to the theory, there are two types of efficiency with high levels of achievement motivation can help them
in production: technical efficiency and X-efficiency. to identify potential leaders, provide training and
Technical efficiency is the ability to produce output using development opportunities, and create a culture of
the least amount of inputs, such as labor and capital. X- achievement and excellence.
efficiency, on the other hand, is the ability to produce
Q.3 Answer any 1 out of 2
output using the available inputs as effectively as possible.
A. Explain with suitable example what do you
X-efficiency is often attributed to factors such as understand by typology of entrepreneur?
motivation, managerial competence, and organizational
culture. The theory suggests that firms that are highly The typology of entrepreneur refers to the classification
motivated, have skilled managers, and a positive of entrepreneurs based on various criteria such as the type
organizational culture are likely to be more X-efficient of business they start, their motivation, their management
than those that lack these factors. style, and the nature of their innovation. There are several
typologies of entrepreneurs, and each one provides
Leibenstein argued that X-efficiency was an important
insights into the different characteristics, strengths, and
factor in explaining the performance of firms, and that it
weaknesses of various types of entrepreneurs. Here are a
could explain why some firms were able to outperform
few examples of typologies of entrepreneurs:
others despite having similar technical capabilities. He
also suggested that X-efficiency could help to explain Industry-specific typology: In this typology,
why some industries were more competitive than others. entrepreneurs are classified based on the industry they
operate in. For example, an entrepreneur in the technology
X-Efficiency Theory has important implications for firms
sector would have different characteristics and challenges
and organizations. It suggests that firms can improve their
compared to an entrepreneur in the hospitality industry.
efficiency by focusing not only on technical factors such
Motivational typology: This typology classifies
as the use of technology and the optimization of entrepreneurs based on their motivation for starting a
production processes, but also on non-technical factors
business. For example, some entrepreneurs are motivated
6
by the desire for financial gain, while others are driven by inspire and motivate others. They are able to delegate
a social or environmental mission. tasks, build a strong team, and lead their business towards
success.
Management style typology: In this typology,
entrepreneurs are classified based on their management By embodying these attributes and characteristics,
style. For example, some entrepreneurs prefer a hands-on aspiring entrepreneurs can increase their chances of
management style, while others prefer to delegate success in the competitive world of entrepreneurship.
responsibilities to others. However, it's important to note that entrepreneurship is a
journey, and success doesn't come overnight. It takes hard
Innovation typology: This typology classifies
work, dedication, and a willingness to learn from mistakes
entrepreneurs based on the nature of their innovation. For
example, some entrepreneurs are focused on incremental along the way.
improvements to existing products or services, while Q.4 Answer any 1 out of 2
others are focused on disruptive innovations that create
B. Evaluate functions, vision, mission and objective of
entirely new markets. NIESBUD?
An example of how typology of entrepreneurs can be us
The National Institute for Entrepreneurship and Small
eful is in the context of venture capital funding. Venture Business Development (NIESBUD) is an organization in
capitalists often have a specific set of criteria they look for India that aims to promote entrepreneurship and provide
in the startups they fund, such as the industry the startup support to small and medium-sized enterprises (SMEs).
operates in, the management style of the entrepreneur, and
Here is an evaluation of the functions, vision, mission,
the nature of the innovation. By understanding the
and objectives of NIESBUD:
typology of entrepreneurs, venture capitalists can make
more informed investment decisions that align with their Functions: Training and skill development: NIESBUD
investment criteria and goals. offers training and skill development programs to aspiring
entrepreneurs and SMEs, with a focus on developing their
B. What are the attribute and characteristics of
technical, managerial, and entrepreneurial skills.
successful entrepreneur which you can apply if you
Research and policy advocacy: NIESBUD conducts
become entrepreneur?
research on entrepreneurship and SME development and
There are many attributes and characteristics that advocates for policies that support the growth of these
successful entrepreneurs possess, and here are five key sectors. Incubation and handholding: NIESBUD provides
ones that can be applied to becoming a successful incubation and handholding support to new and emerging
entrepreneur: businesses, helping them to get started and grow.
1. Passion and drive: Successful entrepreneurs are Vision: NIESBUD's vision is to be a leading institute for
driven by their passion and desire to succeed. They are entrepreneurship and SME development in India,
highly motivated, enthusiastic, and dedicated to their providing world-class training, research, and incubation
business vision. services.
2. Creativity and innovation: Successful entrepreneurs Mission: NIESBUD's mission is to promote
are often innovative thinkers who can generate new ideas entrepreneurship and SME development in India by
and turn them into viable business opportunities. They are providing high-quality training, research, and incubation
willing to take risks and think outside the box to create services, and advocating for policies that support the
something new and unique. growth of these sectors.
3. Adaptability and flexibility: Successful entrepreneurs Objectives: To provide training and skill development
must be adaptable and flexible, able to respond to changes programs to aspiring entrepreneurs and SMEs, with a
in the market and pivot their business when necessary. focus on developing their technical, managerial, and
They are open to new ideas and willing to adjust their entrepreneurial skills.
approach to achieve success.
To conduct research on entrepreneurship and SME
4. Perseverance and resilience: Entrepreneurship can be development and advocate for policies that support the
a challenging and unpredictable journey, and successful growth of these sectors.
entrepreneurs must be able to persevere through the ups
To provide incubation and handholding support to new
and downs. They have the resilience to bounce back from and emerging businesses, helping them to get started and
setbacks and learn from their mistakes.
grow.
5. Strong leadership skills: Successful entrepreneurs
To develop and maintain partnerships with other
often have strong leadership skills, including the ability to organizations and institutions to promote
7
entrepreneurship and SME development in India. Overall, been established to promote entrepreneurship and support
NIESBUD plays an important role in promoting budding entrepreneurs. Here are some of the key roles
entrepreneurship and SME development in India. By played by different government and non-government
offering training, research, and incubation services, and bodies in promoting entrepreneurship:
advocating for policies that support these sectors, 1. National Skill Development Corporation (NSDC):
NIESBUD is helping to create a more vibrant and
NSDC is a public-private partnership that aims to promote
dynamic entrepreneurial ecosystem in India. skill development and encourage entrepreneurship in
Q.5 Answer any 1 out of 2 India. It provides funding and support to training
providers and entrepreneurs.
A. Adolf "Adi" Dassler's entrepreneurial journey
provides several important lessons that aspiring 2. Small Industries Development Bank of India
entrepreneurs can learn from: (SIDBI): SIDBI is a development financial institution
that provides loans, grants, and other financial assistance
Starting Small: Adi Dassler started his shoemaking
career in his mother's washroom. This demonstrates that to small and medium sized enterprises (SMEs).
starting small is not a hindrance to achieving success. 3. National Entrepreneurship Network (NEN): NEN is
Entrepreneurship is a journey, and starting small is often a non-profit organization that aims to foster
a necessary step. Listening to the Customers: Dassler's entrepreneurship in India by providing training,
commitment to gathering feedback from athletes about mentoring, and networking opportunities to
what they looked for in a shoe, what pain points could be entrepreneurs.
improved on, and how they felt about his early models
4. Startup India: Startup India is a flagship initiative of
allowed him to craft an athletic shoe that was highly the Government of India that aims to promote
valued by his customers. This emphasizes the importance
entrepreneurship and support startups. It provides
of listening to customers' feedback, as it helps to improve funding, mentorship, and other resources to startups.
products and create loyal customers. Attention to Detail:
Dassler's focus on the small details of his products made 5. State Industrial Development Corporations
him stand out in the market. This highlights the (SIDCs): SIDCs are state-level bodies that promote
importance of attention to detail in entrepreneurship, as it industrial and entrepreneurial development in their
can help to create high-quality products that meet the respective states. They provide funding, infrastructure,
needs of customers. Continuous Improvement: and other support to entrepreneurs.
Dassler's commitment to constantly observing what could 6. State Innovation Councils (SICs): SICs are bodies set
be improved or invented to support athletes' needs up by state governments to promote innovation and
demonstrates the importance of continuous improvement. entrepreneurship in their respective states. They provide
This mindset is vital in entrepreneurship as it allows funding, mentorship, and other resources to
entrepreneurs to remain competitive by constantly entrepreneurs.
improving their products and services. Building Trust:
Dassler's relationship with his customers was built on 7. National Institute for Entrepreneurship and Small
trust. The fact that "the best of the best trusted Adidas and Business Development (NIESBUD): NIESBUD is an
its founder from the beginning" is a testament to the autonomous organization under the Ministry of Skill
importance of building trust in entrepreneurship. Trust is Development and Entrepreneurship. Its mission is to
built by delivering on promises, creating quality products, promote entrepreneurship and support small businesses
and listening to feedback. through training, research, and policy advocacy.

In summary, Adolf "Adi" Dassler's entrepreneurial 8. Atal Innovation Mission (AIM): AIM is an initiative
journey provides important lessons on the importance of of the Government of India that aims to promote
starting small, listening to customers, attention to detail, innovation and entrepreneurship among young people. It
continuous improvement, and building trust. These are provides funding and mentorship to students, startups, and
crucial principles that aspiring entrepreneurs can apply to entrepreneurs. Overall, the central and state governments
their own businesses to achieve success. have been instrumental in promoting entrepreneurship in
India through various initiatives, policies, and funding
B. Evaluate role of central and state government for support. These government and non government bodies
entrepreneurship development with special reference have played a key role in creating an enabling
to different government and non-government bodies? environment for entrepreneurship to flourish in India.
The development of entrepreneurship in India has been a
key focus area for both the central and state governments.
Various government and non-government bodies have
8