Rajasthan Board RBSE Class 12 Business Studies Notes Chapter 12 Entrepreneurship Development Programme-Meaning, Objectives and Importance
- In simple words, Entrepreneurship development programme is a programme meant to develop entrepreneural abilities among people. It refers to inculcation, development and polishing of such entrepreneural skills of a person which are essential for any entrepreneur.
- It deals with careful identification of potential entrepreneurs, need-based entrepreneural training and pre and post project implementation follow up and support.
- Entrepreneurship development programmes means implementing those efforts by which the following goals can be achieved :
- EDP is an educational process and an endeavour in human resources development.
- EDP helps in establishment of new ventures and formulation of projects.
- Entrepreneurship development enhances the motivation, knowledge, operational skills of potential entrepreneurs and assists them in developing their own ventures and to operate them successfully.
- Its trains them to use entrepreneur skills in daily life activities.
Objectives of EDP
- To promote first generation entrepreneurs and industrialists.
- To develop entrepreneural qualities.
- To provide knowledge about government planning and programmes.
- To help in establishment of new ventures and formulation of projects.
- To provide knowledge about advantages and disadvantages to the new entrepreneurs.
- To develop enterprises in all parts and spheres of the country.
- To provide training to operate business and for marketing.
- To develop small, scale and cottage industries.
- To provide solutions to entrepreneural problems and doubts.
Important Definitions
Entrepreneurship development programme : Entrepreneurship development programme is designed to identify persons with entrepreneural abilities and to train them to set up new enterprise. It deals with careful identification of potential entrepreneurs, and train them with business skills and knowledge.
Small-scale Industries : Generally, industries which come under this category are those in which cost of plant and machinery is upto one crore. In special cases, it can go up to five crore.
Cottage Industries: Generally, industries which come under this category are those which use low capital, simple tools, personal resources, domestic techniques of production and operate with the help of family members and produce simple products.
Importance / Role of EDP
- Encouragement to innovation and product diversification.
- Rapid and balanced economic development of nation.
- Optimum utilisation of resources.
- Helpful in capital formation.
- Builds industrial environment.
- Knowledge of legal provisions and government policies to the entrepreneurs.
- Remedies of entrepreneurs’ sale doubts and problems.
- Execution of government policies and plans.
- Development of small-scale and cottage industries.
- Increase in employment opportunities.
- High standard of living.
- Medium of social change.