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1. Define budgeting?
Establishing a planned level of expenditures, usually at a fairly detailed level. A company may plan and maintain a budget on either an accrual or a cash basis.
or
An estimation of the revenue and expenses over a specified future period of time. A budget can be made for a person, family, group of people, business, government, country, multinational organization or just about anything else that makes and spends money. A budget is a microeconomic concept that shows the tradeoff made when one good is exchanged for another.
2. What are the criteria for channel selection?
Money provided by investors to startup firms and small businesses with perceived long-term growth potential. This is a very important source of funding for startups that do not have access to capital markets. It typically entails high risk for the investor, but it has the potential for above-average returns.
4. Define Venture capitalist?
Private investors who provide venture capital to promising business ventures. They typically invest where at least 25 percent annual returns within one to five years are feasible, and often demand 50 percent or more ownership to exercise control over the investee firm to offset their high risk.
Often they also provide management and industry expertise and business connections with other firms and venture capitalists. Their objective usually is to bring the business to its initial public offering (IPO) stage so that they can sell their shareholdings to the public at high profit, and get out.
5. Define Incubators?
Business incubators provide a physical location in which a new business can start, in an environment supported by business advice and shared services.
6. How is an entrepreneur benefited by being in a business incubator?
A tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, straightforward model that assesses what an organization can and cannot do as well as its potential opportunities and threats. The method of SWOT analysis is to take the information from an environmental analysis and separate it into internal (strengths and weaknesses) and external issues (opportunities and threats). Once this is completed, SWOT analysis determines what may assist the firm in accomplishing its objectives, and what obstacles must be overcome or minimized to achieve desired results.
8. What are the objectives of EDP
The basic objectives of EDP are to:
1. Develop and strengthen entrepreneurial quality, i.e., motivation or need for achievement.
2. To analyze environmental set up relating to small industry and promoting it.
3. Removing unemployment
4. enhancing industrial development
5. Developing industrially backward region.
7. Understand the process and procedure involved in setting up small units.
8. Know the sources of help and support available for starting a small-scale industry.
9. Acquire necessary managerial skill required to run the industrial unit.
10. Know the pros and cons of being an entrepreneur.
11. Helping the person to understand environmental changes and opportunities.
12. Acquaint and appreciate the needed social responsibility/ entrepreneurial discipline.
Establishing a planned level of expenditures, usually at a fairly detailed level. A company may plan and maintain a budget on either an accrual or a cash basis.
or
An estimation of the revenue and expenses over a specified future period of time. A budget can be made for a person, family, group of people, business, government, country, multinational organization or just about anything else that makes and spends money. A budget is a microeconomic concept that shows the tradeoff made when one good is exchanged for another.
2. What are the criteria for channel selection?
- market focus
- business stability
- skills and experience
- technical expertise
Money provided by investors to startup firms and small businesses with perceived long-term growth potential. This is a very important source of funding for startups that do not have access to capital markets. It typically entails high risk for the investor, but it has the potential for above-average returns.
4. Define Venture capitalist?
Private investors who provide venture capital to promising business ventures. They typically invest where at least 25 percent annual returns within one to five years are feasible, and often demand 50 percent or more ownership to exercise control over the investee firm to offset their high risk.
Often they also provide management and industry expertise and business connections with other firms and venture capitalists. Their objective usually is to bring the business to its initial public offering (IPO) stage so that they can sell their shareholdings to the public at high profit, and get out.
5. Define Incubators?
Business incubators provide a physical location in which a new business can start, in an environment supported by business advice and shared services.
6. How is an entrepreneur benefited by being in a business incubator?
- On-site, business support, mentoring and training – many incubators are managed or located by the local Small Business Centre.
- Instant peer support and networking opportunities created with other small business owners and managers.
- Minimal start-up costs – many incubators offer competitive ‘rental' rates, which assist with minimising costs so that you can focus more on developing your business rather than worrying about paying the next big bill.
- Depending on the centre, there is usually only a minimal bond requirement or none at all.
- No long term lease required. Most incubators run on monthly terms, so that's easy in and out.
- Access – most incubators allow 7 day x 24 hour access to tenants.
- Shared administration facilities and meeting / training rooms.
A tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, straightforward model that assesses what an organization can and cannot do as well as its potential opportunities and threats. The method of SWOT analysis is to take the information from an environmental analysis and separate it into internal (strengths and weaknesses) and external issues (opportunities and threats). Once this is completed, SWOT analysis determines what may assist the firm in accomplishing its objectives, and what obstacles must be overcome or minimized to achieve desired results.
8. What are the objectives of EDP
The basic objectives of EDP are to:
1. Develop and strengthen entrepreneurial quality, i.e., motivation or need for achievement.
2. To analyze environmental set up relating to small industry and promoting it.
3. Removing unemployment
4. enhancing industrial development
5. Developing industrially backward region.
7. Understand the process and procedure involved in setting up small units.
8. Know the sources of help and support available for starting a small-scale industry.
9. Acquire necessary managerial skill required to run the industrial unit.
10. Know the pros and cons of being an entrepreneur.
11. Helping the person to understand environmental changes and opportunities.
12. Acquaint and appreciate the needed social responsibility/ entrepreneurial discipline.
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