A Unique Business Plan
[pic] Based on a Study of Business Environment & Entrepreneurship Development History of Entrepreneurship Development & A Unique Business Plan Based on a Study of Business Environment & Entrepreneurship Development Prepared for- Mr. Shuvabrata Saha, Lecturer, Department of Accounting & Information systems, Comilla University. Prepared by- Group name-” Rising” 4th Year, 1st semester, Department of Accounting & Information Systems , Comilla University.
comilla Submission date- July 04, 2011. [pic] Comilla University
Salmanpur, Kotbari Comilla April 30, Mr. Shuvabrata Saha, Lecturer, Department of Accounting & Information Systems, Comilla University. Subject: Submission of Term paper on “History of Entrepreneurship Development & A Unique Business Plan”. Dear Sir, With due respect, we are submitting this Term paper on the topic of “History of Entrepreneurship Development & A Unique Business Plan”, under the requirement of the course “Business Environment And Entrepreneurship Development”, as you have asked us to prepare it on last March 30.
We all are thankful to you for your concrete knowledge about the subject matter that helped us to lead the Term paper to its successful competition.
We have prepared this according to class lecture, through group discussion and through the help of secondary sources-Internet. And we hope that this Term paper will help us in accomplishing future entrepreneurial matters and as well as to establish a successful business. If you face any disorder or mistakes in interpreting this Term paper than please inform us, so that we can correct our mistakes as early as possible.
Sincerely Yours, Tahmina Mannan On behalf of the group-” Rising”, Department of Accounting & Information Systems, Comilla University. [pic] The preparation of a Term paper and its accomplishment successfully is quiet impossible except someone who can sincerely and constructively assists us to make a Term paper in a benefiting manner. And thus we would like to specially extend thanks to our honorable course teacher, “Mr.
Shuvabrata Saha”, for his guidelines, valuable insights and suggestions regarding the preparation of the Term paper to its completion.
It is a great pleasure in submitting the Term paper which is the outcome of our preparing program of a Case Study on “History of Entrepreneurship Development & A Unique Business Plan”, under the course “Business Environment And Entrepreneurship Development” We are truly gratified and grateful to our honorable Sir, who are for the first time encourages us to make a Multimedia PowerPoint Presentation on this Term paper and made a confidence on us to do such courageous tasks successfully.
We hope in future we will get his assistance to make such kind of study and we also hope we will get his solitude indications and valuable advice in future as always. At last we shall be grateful to those person who read this Term paper and who shall get benefit from this at present and in future. Tahmina Mannan, On behalf of The Group-” Rising”, Department of Accounting & Information Systems, Comilla University.
[pic] The executive summary that results from this study are to add the following- • History of Entrepreneurship Development in Japan, USA, UK, India, Pakistan, Bangladesh. A Unique Business Plan. Supporting these above topic the following findings and conclusions drawn from the study. Firstly, we have discussed here the history of entrepreneurship development in case of Japan, USA, UK, India, Pakistan and Bangladesh. For the crucial and significance role played by the entrepreneurs in the economic development in the past that reached at today’s advanced entrepreneurship are here briefly examined. Secondly, we have discussed about a Unique Business Plan that are suggested us to be more unique, innovative, infeasible and profitable as well.
Thus we have tried to present and share here shortly the idea, the concept of a unique business plan. We have also highlighted a group of steps for establishing a business and compared with our Business Plan. [pic] Term Paper Concludes: Page no: History of Entrepreneurship Development1 In Japan6 In USA In UK In India In Pakistan In Bangladesh A Unique Business Plan Recommendation28 Conclusion28 Bibliography29 History of Entrepreneurship Development
Entrepreneurship development essentially requires a process of upward change whereby the real capital income of a country increases over a period of time . Entrepreneurship has an important role to play in the development of a country. It is one of the most important inputs in economic development. The number and competence of entrepreneurs affect the economic growth of the country.
The economic history of the presently advanced countries like USA, UK, Japan, India, Pakistan and Bangladesh supports the fact that economic development is the outcome for which entrepreneurship is an inevitable cause.
The crucial and significant role played by the entrepreneurs in the economic development of advanced countries has made the people of developing and under developed countries conscious of the importance of entrepreneurship for economic development. It is now a widely accepted fact that active and enthusiastic entrepreneurs can only explore the potentials of the countries availability of resources such as labor, capital and technology. The history and role of entrepreneurship is not identical in the various economies.
Depending on the material resources, industry climate and responsiveness of the political system, it varies from economy to economy. The contribution of entrepreneurs may be more in favorable opportunity conditions than in economies with relatively less favorable opportunity conditions.
The entrepreneurship development of each of these country mainly includes the following in considerations: 1) Employment Generation 2) National Income 3) Balanced Regional Development 4) Dispersal of economic power ) Better standards of living 6) Creating innovation The characteristics and the history of entrepreneurship development of USA, UK, Japan, India, Pakistan and Bangladesh are discussed here in a brief manner. In USA History and current issue on entrepreneurship in the USA economy was dull in 1980’s . However, they achieved a drastic recovery to return to the highest position in the international economy after 1990’s. We search the roots and history of entrepreneurship in the USA to discuss about the role of it in the USA economy.
There is no doubt that entrepreneurship is a corollary of American business. The world’s most famous entrepreneurs have been American: Andrew Carnegie, John D.
Rockefeller, Jay Gould, Edward H. Harriman, J. P. Morgan, and Pierre du Pont, to name a few. Their very names are synonymous with entrepreneurship.
The stories of their success make the concept of entrepreneurship tangible. The American economy provides the largest and richest study of how entrepreneurs have advanced technologies, organizations, and social patterns-in short, the full spectrum of human opportunities.
Globalization is one aspect of widespread and robust entrepreneurship. To be sure, business practices spawned and developed here are being used all over the world with some variations. The emergence and role of the innovative entrepreneur in the United States from the colonial period to modern times provides a probing exploration of our unique past.
The first American colonists were the earliest entrepreneurs in this country. Bearing a positive outlook and pursuing dreams of success, they were the model for generations of entrepreneurs to follow.
Yet, unlike their predecessors who found fortune in Europe and other regions of the world, these “Founding Entrepreneurs had to create a viable operation out of local resources, which had yet to yield anywhere near a competitive return,” says Gunderson in An Entrepreneurial History of the United States. These first capitalists played a critical role in the development of the United States into a global economic power and a country that has, on the whole, created an exemplary standard of living for its citizens.
As Gunderson notes, these early entrepreneurs were successful in “redeploying resources creating exports that were competitive in international trade, and devising organizations that encouraged participants to harness their personal interests toward those of the colony. ” An Entrepreneurial History of the United States, first published in 1989, chronicles the story of the nation’s economic beginning, and makes the story compelling by including profiles of famed business figures and companies.
The stories of such entrepreneurs as Robert Fulton, John Jacob Astor, Andrew Carnegie, Thomas Edison, and Henry Ford and such companies as AT, DuPont, and Sears Roebuck are told. The history of entrepreneurship falls into phases tied to ever-changing business conditions and social circumstances. In some cases, entrepreneurship helped to usher in new phases; in other cases, it seized on opportunities for new products or services. The interplay between entrepreneurs and colonial society is thus a recurrent theme.
The personal attributes shared by entrepreneurs, such as a special knowledge or ability in some field, a drive to apply this knowledge or ability to a business market in a novel way, and a combination of practicality and vision in applying the new idea. However, despite their creativity and drive, few entrepreneurs were overnight successes. Their accomplishments were earned after a long, persistent period of trial and error. The successful entrepreneur was not an especially ingenious individual who took a big risk and saw it pay off. A major misconception is that entrepreneurs assume particularly large risks,” says Gunderson. Rather, “a development usually unfolds as continuing, small problems, where mismanagement of an individual opportunity often can be corrected and then recouped by persistence.
” Entrepreneurs are convinced they are on to something even in the face of obstacles and mismanagement in the early stages of their venture. Gunderson notes that, “As an entrepreneurial venture grows, its members learn about the niche that the product serves.
Frequently the firm becomes recognized as the best source of such expertise in the world. ” While natural resources, an abundant labor supply, available capital and the Protestant ethic of hard work and thrift all contributed to America’s phenomenal economic development, Professor Gunderson, in his remarkably lucid, nontechnical, popular history, accords even greater credit to the motivation and initiative of individual and group entrepreneurs who possessed an ability to change and develop new technologies without which, an economy or society stagnates.
Moreover, he persuasively challenges the view that modern growth did not begin until the Industrial Revolution, citing the entrepreneurial activities of the colonists .
He follows the evolution of entrepreneurs from such early 19th century inventors as Fulton, Morse and Cyrus McCormick to the great late 19th and 20th century tycoon-innovators who contributed to the unparalled growth of the country. But many of these entrepreneur-founders, failed to fill the new leadership demands of complex, publicly held mega-corporations, especially in the new service and electronic industries.
According to Gunderson, the growth of the U. S. economy since colonial times is due more to entrepreneurial initiative than to the more widely recognized theory of the Protestant work ethic.
He retells the economic history of the United States by noting the contributions of many individual entrepreneurs who have, in his opinion, made a difference. This point of view invites comparison with George Gilder’s The Spirit of Enterprise (which ultimately is the more important work.
However, Gunderson does contribute an adequate survey of American business history to add to collections on the subject of entrepreneurship. In UK Entrepreneurship has emerged within the past 30 years as a distinctive discipline within the field of Business and Management. Research has shifted from an individual-centric approach which has sought to understand entrepreneurship by focusing on those individuals who exhibit entrepreneurial behaviours towards an environment-centric approach which seeks to locate and understand the situations in which entrepreneurs are found.
Neither approach has offered a coherent approach to understanding entrepreneurship.
More recently, a consensus has emerged that at the core of entrepreneurship, as a field of study, is the identification and exploitation of opportunities. Shane and Venkataraman define entrepreneurship as “an activity that involves the discovery, evaluation and exploitation of opportunities to introduce new goods and services, ways of organising, markets, processes, and raw materials, through organising efforts that previously had not existed”.
They go on to scope out the field of entrepreneurship as comprising the following: when and how entrepreneurial opportunities exist; the sources of those opportunities and the forms that they take; the processes of opportunity discovery and evaluation; the acquisition of resources to the exploitation of these opportunities; the act of opportunity exploitation; why, when and how some individuals and not others discover evaluate, gather resources to and exploit opportunities; the strategies used to pursue opportunities; and the organising efforts to exploit them.
In view of the economic impact of entrepreneurship, in terms of employment and innovation, and its political significance, there is also a strong applied strand of research which examines policies to promote entrepreneurship and the evaluation of related interventions. However, a major critique of entrepreneurship research is its failure to recognise the significance of time and context and to present its conclusions at least implicitly as being timeless and context free: the so-called rush to simplification and generalization.
A key aspiration for this special issue is that it should demonstrate that ‘time matters’. Historical context and the operation of entrepreneurial processes include continuity and change in entrepreneurial processes; the emergence and growth of specific industry sectors; the origins, growth and demise of entrepreneurial places; changing organisational forms; and the economic impact of entrepreneurship. Entrepreneurship has been rediscovered by economists, scholars in managerial sciences, and business historians. Typically, great entrepreneurs led the huge restructuring process of the nineties.
But perhaps the most important reason for the awakened interest in the subject has been the ability of successful entrepreneurs to ride the great wave of innovation that has taken place in industries such as electronics and information-communication technologies. Their efforts have brought the world into the era of globalization.
Entrepreneurship is so critical to the wealth and competitiveness of a nation that all advanced countries have attempted to codify it both for instructional purposes and as an aid in formulating industrial policies. But notwithstanding its acknowledged importance in the economic process, ntrepreneurship is an elusive phenomenon. Entrepreneurship appears in different sizes—from large corporations to small retail shops—and it assumes various forms. It can be the motivation for a scientist to assign economic values to his or her lab activity, or it can be the guiding force for a well-educated manager of a large corporation who utilizes techniques learned in business school. It can also be what pushes the instinctive type who is able to anticipate demand and build an economic empire.
Entrepreneurship can occur over the course of an extended, day-by-day process or it can take place in a dramatic leap.
Certainly a good litmus test for detecting the presence of entrepreneurship is whether the person has the capacity to create something new. Then again, innovation does not explain everything. Not everyone we identify as an entrepreneur is an exceptional innovator. There are more hard questions rather than definitive answers in the attempt to grapple with the definition of entrepreneurship.
Some of the relevant questions would be these: What are entrepreneurs engaged in besides simple innovation? Who are they? Are they individuals who risk their own money? What relationship do entrepreneurs have with the organizations they create?
Are entrepreneurs indispensable to economic growth? Is it possible to separate entrepreneurship from its historical, economic, and social environment? Finally, is entrepreneurship independent of time and space? Also in the first section, and writing from the perspective of a mainstream economist, George Bitros explores the interrelationship between entrepreneurship and economies of scale and scope. Bitros observes how the development of multiproduct technologies characterized by economies of scale and scope has led to losses in market coordination due to increases in market imperfections.
James Foreman-Peck eloquently demonstrates how theory and evidence have been quantitatively linked in the historical study of entrepreneurship, thereby allowing judgments to be made about entrepreneurship’s causes and effects with increasing precision. Richard Coopey investigates the intricate and complex relationship between investment and entrepreneurship, concentrating on the history of venture capital in postwar Britain and the United States. In Japan Entrepreneurial activities of a region reflect its business climate and habitat for innovation.
This is particularly evident in Japan as entrepreneurial activity in these areas especially faces a different culture and business environment. Japanese entrepreneurs were more society-oriented and concerned more about personal and globalization risks and less about market and financial risks. Japanese firms seemed to have better access to diverse financing resources including bank loans and government financing. Analysis and evaluation on entrepreneurship it is important to analyze and evaluate the past cases of setting up businesses for aiming a success of our own cases.
After the collapse of the bubble economy in 1980’s, many policies and schemes have been formulated and carried out in Japan.
Encouraging entrepreneurs is one of the most hopeful policies and has become the focus of recent attention. The policy aims to encourage setting up a business by each individual entrepreneur, also to reform organization in some enterprises suffering from so-called “large company sickness,” to activate venture and to contribute strategic management of technology as a national policy.
Learning from the arguments on “the lost 10 years in Japan” tells about the harder competition in the international business circumstances. After the collapse of the bubble economy in 1980’s, many policies and schemes have been formulated and carried out to encourage the weakened international competence of Japan and to recover from the economical recession. The Japanese semiconductor industry is one of the good examples that we can learn from the arguments on the bad manners and strategies in that period.
History and current issue on entrepreneurship in the Japan while the US economy was dull in 1980’s when Japan was most brilliant with the bubble economy.
Particularly, the current status on venture projects inside enterprises and spin-out ventures is discussed to think about the circumstances, manners, and processes on entrepreneurship in Japan. Unfortunately many technical seeds in Japan can hardly produce a business success. This fact is pointed out as one of the reasons why Japanese economy has been so stagnated.
The problem is also considered as a common issue on technology management for many other countries, as so-called “the valley of death. ” The study of the evolution and emergence of Japan’s history of entrepreneurship development leading the industrial firms during the twentieth century. First, it provides a historical study of how the industrial institutions of modern Japan appeared and matured.
Second, it looks at the basic forms of social and economic interaction in Japan. Third, it is a development study of how circumstances of rapid technical and economic change have shaped the Japanese business system.
Finally, it is also a strategy study of how Japanese managers have responded to and shaped these circumstances. This fourfold synthesis offers a model of institutional development under conditions of late economic development and private initiative that falls somewhere between a capitalist development state and a free market economy. The popular opinion of entrepreneurship in Japan is that it is hard, getting funding and finding venture capital seems to be have been hard in the past and incubators seem rare.
When discussing the history it is generally put into three categories; political, cultural and the Japanese perception on entrepreneurship.
Japan has had enormous success in the past taking western concepts to adapt and improve them. If anything, the future of the Japanese entrepreneurial venture is bright. There is a lot of talent in the Japanese people for creating new things, innovating and solving real problems. But the biggest problem is that the view of entrepreneurship is so different there from the U. S. This does however create a bright future for a westerner looking to start something new in Japan.
A foreigner looking to innovate and give the Japanese economy a boost can be welcomed with open arms. Finally we can say that Entrepreneurship helps in increasing productivity and capital formation of a nation. In short, the development of the entrepreneurship is inevitable in the economic development of the country. The Role played by the entrepreneurship development can be expressed in the following words: ” Economic development is the effect for which entrepreneurship is a cause” In Bangladesh
The entrepreneurial history of Bangladesh dates back to the ancient era. In the ancient age, Bengal was rich in different small and cottage industries as well as trade and commerce. The basic industries were fine cotton fabric known as muslin, sugar, salt etc.
These were exportable commodities for which there was a great demand in the Far East and Europe. With the establishment of Muslim rule in India, the communication system between different regions of India with Bengal developed During Pre-Mughal Muslim rule, an entrepreneur class grew in Bengal, especially in and around dhaka.
They had lofty craftsmanship in handicraft, textile weaving, milk products, jewelry etc. Dhaka attained greater commercial importance and became a major trading and entrepreneurial centre for the whole of Southeast Asia. The Europeans, particularly the Portuguese, Dutch, English and French as well as other traders began to come in larger numbers. The jamdani saris woven in flowered or plain designs with border and ground in threads of gold, silver or silk became popular and were sent to Hejaj, Morocco, Tunisia, Delhi etc.
After that the British government had imposed high taxes on the incomes of local entrepreneurs. The Muslim majority of Bengal inclined to disassociate themselves from the British because of the perception that the British had snatched power from the Muslims. The British also disliked Muslims and tried to deprive them of all economic and political opportunities. All these factors deterred the growth of entrepreneurship in Bengal during British rule. During the later half of the nineteenth century, Bengali capital was mostly diverted to land and non-commercial occupations.
At the same time, development of transportation, primarily the expansion of railway and shipping as well as expansion of a money economy caused a rise in the price of land, making landed investments more attractive.
Bengali entrepreneurs were to raise the start-up capital from the existing capital market or to borrow from the informal credit market. Attitudinal problems such as an anti entrepreneurial bias played a not too inconsequential role in the development of Bengali entrepreneurship. These biases were reflected in the derogatory attitude towards the indigenous trading communities like the
Sahas of Bengal or the Muslim traders of chittagong. An anti-entrepreneurial bias was dominant amongst the attitudes of political leaders and the civil bureaucracy of Bengal. After the Partition of Bengal in 1947, the eastern part of Pakistan did not inherit an experienced entrepreneurial class for historical reasons. Neither did this part receive adequate attention from the government of Pakistan in terms of economic incentives to induce entrepreneurial activities.
The government support and facilities went more to the western part and the net result was a constrained growth of entrepreneurship in East Pakistan.
The East Pakistan Industrial Development Corporation (EPIDC), however, had set up some enterprises, especially a number of jute mills, and gradually handed over their ownership to the local associates. This had indirectly helped the growth of an entrepreneur class in Bangladesh. The country inherited a shattered economy after the war of liberation of 1971. Mills and factories were closed down, agricultural production was interrupted and infrastructural facilities like roads, bridges, railways, power transmission lines, telephone network, gas pipe lines etc. ere broken down.
Because of the political commitment and also because of the exodus of non-Bengali owners of mills, factories and banks the government had nationalized all such establishments immediately after liberation. Within a few years after independence, the government policy was changed and the role of private sector given due importance. The disinvestment and denationalization policies have facilitated the ownership of large, medium and small industrial and commercial enterprises by Bengali entrepreneurs.
The government, however, brought changes in trade and industrial policies alongside the monetary and exchange rate policies. Import controls were considerably relaxed to reduce the level of protection, thus encouraging efficiency in resource allocation and promotion of competitive abilities of domestic industries. The bangladesh shilpa rin sangstha (bsrs), bangladesh shilpa bank (BSB) and investment corporation of bangladesh (ICB) acted as prime movers for industrial development in Bangladesh.
BSCIC industrial estates and export processing zone (EPZ) authorities have provided a large number of entrepreneurs with infrastructural facilities including land for industrial location, water, power, sewerage, gas, telephone, extension and counseling services and store and warehousing facilities. In Bangladesh quite a number of entrepreneurial ventures have been the creation of corporate spin-offs. They embarked upon new ventures with the experience and skill that they gathered while serving an enterprise. In Bangladesh the garment industry has been the creation of spin-offs.
Similarly, many chemical engineers starting their career in the Chemical Industries Corporation ultimately left their jobs and started new chemical/ pharmaceuticals enterprises. A special group of entrepreneurs, creators of the corporate new ventures, identified technically as intrapreneurs, create new products and processes within large organisations.
They do not start a new enterprise or industry but create new products with their innovative and inventive ideas. Their corporate entrepreneurship opens up new horizons of opportunities for the corporate structure where they serve.
The establishment of many new chemical plants/product lines under Bangladesh Chemical Industries Corporation is an example of corporate entrepreneurship. The dholaikhal in Bangladesh is an example of emulating entrepreneurship that matches the experience of countries like Japan, Hong Kong and Taiwan in the growth of entrepreneurship during the early years of economic development through the emulative dexterity of their people. Gradually, the emulative capability of local entrepreneurs helped indigenous technology to flourish, and this, under active government patronage, facilitated the growth of entrepreneurship.
Apart from a few multinational companies like Bata Shoe Company and Bangladesh Tobacco Company Limited, public sector enterprises have not developed a positive attitude towards this system.
An import-biased policy and fiscal anomaly also impede its proper development. bangladesh bank in association with commercial banks and the Bangladesh Institute of Management launched an Entrepreneurial Development Programme for educated unemployed youths. Similarly, BSCIC, in association with USAID initiated a Women Entrepreneurship Development Programme.
However, it is not clearly known how many new entrepreneurs have been created as a result of the training and education. In Pakistan The history of National entrepreneurship and its development in Pakistan, we shall find that almost every company we know today began as an SME. Europe, United States, China and our neighbour India started developing Microsoft industries with small man power in a rented house or in a small industrial unit. It is believed that Small and Medium-sized enterprises (SMEs) as key actors in national development and employment creation.
World trade and manufacturing is now shifting to east. Small and medium-sized enterprises (SMEs) are a very assorted group of businesses usually operating in the service, trade, agri-business, and manufacturing sectors. The contribution of uplifting National Economy and improving National prosperity the role of Small and medium industries is imperative. In Pakistan small business and cottage industries hold an important position in rural areas.
In 2005 infrastructure in remote areas had improved considerably.
Most villages are self sufficient in the basic necessities of life. They have their own carpenters, blacksmiths, potters, craftsmen and cotton weavers. Many families depend on cottage industries for income. Due to the tremendous effort of SMEDA (Small and medium enterprises Development authority) the concept of small industries have also gained immense importance in cities and towns. Government should encourage cottage and small-scale industries Government support to this workable Organization with its proven success record both in rural set up, cities and towns is crucial.
SME BASELINE SURREY-2009is a tremendous effort done by the team of policy and planning division of Smeda under the dynamic leadership of its chief Shahid Rashid. This survey conducted by Gallup Pakistan with the financial assistance of Asian Development Bank is inclusive report and guide line for SMEs policy makers. All the chapters of this survey reports grab the attention of business community as its deals with almost all related aspects that bound with promotion of entrepreneurial culture.
Pakistan Government should place the development of SMEs on a high priority area and this should be reflected in its National development agendas. With the consultation of highly skilled staff of SMEDA the policy makers should prepare the key strategies for SME development in coming years.
Like Pakistan Government may constitute National SME Development Council. The consistent progress and devote work of SMEDA during the last 12 years reveals that SMEDA is a right organization to be trusted. Ministry of industries and production should give maximum incentive to this viable institution.
The dream of having an organization to support facilitators emerged as people working with participatory group facilitation methods were sharing approaches that worked in their practices. People, who can build consensus, maximize participation and move toward action are in high demand in today’s world.
The idea of SOFT emerged from the last 10 years efforts being made at the plat form of National IPM Program implemented in different phases all over Pakistan. To maintain and further this pace, formations of a society to use the national resources in a productive way become indispensable.
The Society of Facilitators and Trainers (SOFT) are formed by a group of professionals desiring an avenue for interchange, professional development, trend analysis and peer networking. A formal association was proposed and adopted at the 2nd National IPM Facilitators congress in Islamabad, November, 2004 and finally a Society of Facilitators & Trainers has been registered under the Society Registration Act 1860 on 23rd July, 2009 in Islamabad. Since then, the SOFT has grown to over hundreds of members from all over Pakistan.
Society remains committed improving livelihood & social development through Skills enhancement by creating a network of local organizations for improved productivities, healthy environment, value addition and entrepreneurship development of rural communities’ especially poor farmer’s organizations and regional networks. Propelling Women’s Entrepreneurship in Pakistan Supporting Pakistani Women Entrepreneurs in Expanding and Strengthening their Businesses by Connecting them with Successful Professional Women Mentors.
A select group of women will be chosen to be mentors in the first collaborative program between the U. S. Department of State’s Office of Global Women’s Issues, Goldman Sach’s 10,000 Women Initiative, and the Thunderbird School of Global Management to expand women entrepreneurship in Pakistan. This opportunity will make a difference in the lives of female entrepreneurs by providing a network that fosters sustainable change and economic empowerment for women in Pakistan.
In India History of entrepreneurship in India:
Several entrepreneurial phases in India have passed since independence. A slow pace of development was reflected in the late 1950s and early 1960s, as the entire economy was changing from an agro based economy to an industrialized economy. Soon after that the upcoming entrepreneurs got support from the government as well. A number of SSI sprouted up in late 1960s and 1970s. Here an intensive movement was initialized for further promotion of entrepreneurship. Finally, in 1980 India was able to liberalize imports and began with small and medium scale entrepreneurs.
Further, the economic reforms were introduced in 1990. It was a kind of disillusion for the budding Indian entrepreneurs and now in the 2000 the entrepreneurial scenario has undergone a vast change. Now India is taking part in global entrepreneurship. History of Entrepreneurship Evolution in India: Barter system & currency Caste System Agriculture Education Colonial rule Managing agents Trader community SSI Founder Entrepreneurs development Reforms in 1990’s Liberalization India Multinationals and Joint Ventures 50 years of Indian Entrepreneurship:
Indians have always been entrepreneurial in nature, its just only recently that this word is being used so often. So it is no surprise that India celebrates 50 years of Indian Entrepreneurship.
The arrival of independence, the early decade of 1950-60s marked a slow progress from an agrarian economy to an industrialised market. Industry was dominated by textile power looms in and around Bombay, Ahmedabad, Calcutta and Madras. The 1960s saw the rapid expansion in large scale government sponsored heavy industry being set up across the country.
Undermining the role that an individual enterprise can play in a country’s economic growth, the government went ahead building state owned enterprises dependent on centralised planning In the 1970s , there was an intensive campaign to promote entrepreneurship among the Indian business community. This was the first effort to promote entrepreneurship in a concentrated manner. It was inspired by the fund raising campaign that happened during the second Indo-Pak War in 1965-66.
The late 1980s marked the new beginning for the small and medium entrepreneurs in India with the new government choosing to move towards a market oriented economy.
The economic crisis of the early 1990s resulted in economic reforms and a deliberate move towards globalization and liberalization of the Indian Economy. Soon by the early 2000 , it was common to see young professionals preferring to become entrepreneurs and the least preferred career path was a stable government sector job. With the dawn of the new service oriented economy, young professionals will increasingly work in the private sector and later choose to start a business of their own. A Unique Business Plan The day is not so far that one day all the sources of oil, gas, coal, petrol and fuel will be exhausted.
Instead there remains the Nuclear power. But after the large happening of the earthquake and tsunami in Japan(11 March, 2011),for the inversion of Nuclear Power Plant, they are bound to decide to banned all of there Nuclear Power Plant as it largely increased the level of carbon dioxide in air. At the same time for the same reason Germany have also decided to banned their all Nuclear Power Plant within 2022. And then there will be no solution of the sources of power and electricity except only the Wind and Solar System.
From when we have given to choose a unique business plan we are thinking what kind of business should we choose that are eco friendly, save our environment and that will be the permanent solution of any of our major scarcity problem.
And that is the power, energy the electricity problem. In order to see a poverty free world, energy security for all must be ensured. As the conventional sources of energy are limited and can not meet the increasing need of the common people, wide dissemination of renewable energy technologies is the only way out.
We think our Business plan a large scale program to provide Wind and Solar home systems that will play a leading role in the rural households in Bangladesh. We have designed, supplied and installed systems for a wide range of clients.
We can design and supply a system to meet exact needs and our systems include all balance-of-system components. Remote power systems are ideal for providing energy to rural properties, alternative power systems and small community power supplies. If you live in an area where there is no electricity and connecting to the electricity grid is not an option, most likely it is far too expensive!
The UK is unusual in that it experiences good wind conditions so wind power is certainly viable. Coupled with sunshine, a solar and wind solution provides a reliable, safe, environmentally friendly and user-friendly source of electricity for a very long time. A solar and wind power solution will need little maintenance simply because there are no moving parts. Component failure is very rare and come with superb guarantees, solar panels offer a 25 year warranty as standard.
Best of all, you are generating your own electricity for free! [pic] [pic][pic][pic]
With an off grid system you will need somewhere to store the generated electricity and this is usually stored in batteries. The battery bank provides electricity at night, and during periods of cloud cover. Systems can comprise of a stand-alone pv system and wind turbine, solar pv system. Stand-alone solar (only pv) systems require high availability and so systems are often oversized, to account for long summer short winter sunshine. Remote power systems are installed for a range of reasons, including: • expensive grid connection; • desire to use renewable energy; • low running costs; environmentally safe no overhead wires; • CO2 emission, reduces pollution and natural climatic changes.
[pic] [pic] Dual Wind Turbine and Solar Close up of wind turbine and solar panel PV Off-Grid System Application: Remote water pumping [pic] Wind turbine and solar panels Bottom of Form Eco friendly energy efficient power supply Using Wind and Solar systems: We know that a business plan is a document that is used as a base for future actions of the business venture. And an essential steps in getting a new venture of the ground is the preparation of a business plan.
To prepare a business plan we have to consider a number of steps in this manner. The related important steps of preparing our business plan are here briefly examined as follows- Commitment of Starting A Business: First of all a commitment are to be made to enter into a business. And we all are firmly determined, committed and decided to start a business by ourselves.
SWOT Analysis: Each business conducts a SWOT analysis by which it evaluates business’s overall strengths(S), weakness (W), opportunities (O), and threats (T). We have also made an SWOT analysis that generates from our study are highlighted as follows: Strengths: . Adequate natural resources (sunlight and wind), 2. Availability of manpower, 3. Lower labor cost, 4.
Available raw materials, 5. Having theoretical knowledge of business, 6. Strong desire and enthusiasm for establishing business, 7. Transportation and communication facilities etc. Weakness: 1.
Required a huge amount of capital, 2. Required a lot of research and analysis, 3. Lack of practical knowledge for implementation and establishment of a new business. Opportunities: 1. Greater employment opportunities, 2. Increasing overall economic development of the country, 3.
Greater utilization of natural resources, 4.
Advanced technologies, 5. Ease of Govt. rules, regulations and facilities, 6. Better opportunities of expanding any kind of businesses in Bangladesh.
Threats: 1. The response towards the product or service may be lower than expectation, 2. Challenging competitors, 3. Any kind of risk taken. 4.
High initial installation costs and 5. Limited government support compared to that of other countries. If we can not utilize our strength and opportunities properly it may take form into threat for our business. And if we can overcome the threats and weakness then it may convert into our strength that may create a lot of opportunities.
Selection of Product or Services: After SWOT analysis we are determined to go to such kind of business which best fit with our Strengths, Weakness, Opportunities and Threats as well as with our desires.
We have decided to choose a business idea which is environment friendly and permanent solution of any problem of our country. Keeping on this on our mind we found the current major electricity problem that are increasing day by day in our country. Thus we have chosen a business idea of eco friendly energy efficient power supply by using our adequate and available sun light and wind through solar and wind system.
By purchasing solar panels and wind turbines we will make installation and give power supply from both sun light and air simultaneously. Whenever sun light is available the solar panel will provide required electricity through saving power into the batteries. If sun light is not available then the wind turbine will serve power from air like the solar panel.
That means there will be always alternative in absence of any one and 24 hour it will supply electricity which are of a tremendous demand now-a-days in our country as it is emerged under load shading largely.
Thus it is the new use of old product that have not yet come in Bangladesh. And as we have adequate sunshine and air all over the year, that are everlasting have available manpower, also have lower labor cost, easy collection of inventories, greater transportation and communication facilities, helps to cut carbon emissions from buildings, and a strong desire to do something new for the welfare of our natural environment as well as the whole country. Our business plan is thus both product and service oriented. [pic] Independent Wind & Solar Hybrid Power Supply System Solutions for Building
Business type: Manufacturer, retail sales, wholesale supplier, importer. Service types: consulting, system design, installation, construction, engineering, project development services, training services, research services, site survey and assessment services, maintenance and repair services, recycling services, testing service.
. Product types: Building Eco-friendly Energy Efficient Wind & Solar Power Supply System Solutions for building configurations may include a mixture of possible electrical generating sources, including inverters and batteries. There are five main components of an off grid systems. Solar panels ; • Wind turbine; • Controller; • Battery bank & • Power Inverter; A customized system has a lot of options and we can offer a wide range of products to suit all requirements. These include: [pic] [pic] [pic] [pic] [pic] Solar panels wind turbine controller Battery bank Power Inverter Expected profit, time, investment and Projected Income Statement: As significantly, with attracted major investment from finance institutions will help our business to make both life-enhancing and profitable through technology and sustainability.
As it is a new business we can not expect a maximum profit on this. We will give at least two years to establish the business at first. So that we can retain the customer for a long time. When our business will start to make large sales volume and service available then we will expect to make profit from this business on about 20% on our turnover. Our business will be started with an investment of about 1crore tk. In this manner we have presented here a projected income statement .
“Rising Partnership & Service Ltd” Projected Income Statement For The Year Ended Dec31, 2011 Particulars |Tk |Tk | |Sales revenue: | |3000000 | |Less: sales returns |200000 | | |Sales discount |50000 |250000 | | | | | |Net sales | | | |Cost of goods sold: | | | |Purchase | | | |Gross profit (A-B) | | | |Operating expense: | | | |Office and dministrative expense: | | | |Office expense | | | |Manager’s salary | | | |Rent expense | | | |Utilities expense | | | |Depreciation | | | |Transportation expense | | | |Insurance | | | |Supplies | | | |Repair expense | | | |Selling expense: | | | |Sales manager salaries | | | |Advertising expenses | | | | | | | |Total operating expenses | | | | | | | |Income from operation (C-D) | | | |Other revenues & gain: | | | |Interest revenue | | | |Other expense & cases : | | | |Interest xpense(5000000*10%) | | | |Net income | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |2000 | | | | | | | |100000 | | | | | | | |30000 | | | | | | | |18000 | | | | | | | |9000 | | | | | | | |50000 | | | |4500 | | | | | | |3000 | | | | | | | |7500 | | | | | | | | | | | |75000 | | | | | | | |100000 | | | | |2750000 | | | | | | | |1520000 | | | | | | | |1230000 | | | | | | | | | | | | | | | | | | | | | | | |224000 | | | | | | | | | | | | | | | | | | | | | | | | | | |175000 | | | |399000 | | | | | | | | | | | |831000 | | | | | | | | | | | | | | | | | | | | | | | | | | | 10000 | | | | | | | |500000 | | | | | | | | |490000 | | | | | | | |341000 | | | | | Merchandising Plan: For marketing our product we have prepared a merchandising plan.
The marketing plan of our product depends on the demand of our customer towards our product and services. Basically our product and services will be given to the general customer. And our required materials and inventories will be collected from a number of reliable sources from Dhaka, Chittagong and from outside of the country as required. The wind & solar energy systems product companies where we will get all our required product available and sources from where we will mainly purchase are- 1.
Bangladesh Wind And Solar Technologies. Address: Road # 04, Banani, Dhaka1213, Bangladesh 2. A B Power. Address: House 33, Road 18, Banani, Dhaka 1212, Bangladesh 3. Global Trade & Technology. Address: House 9/3, South Mugda, P.
O-Bashabo, Dhaka 1214, Bangladesh 4. Xebec & Partners Limited. Address: H-71, New Airport Road, Mohakhali, Dhaka1212 Bangladesh 5. Goldenfair International Trading Company. Address: HOUSE-502, ROAD-34,New D. O.
H. S. , Mohakhali, DHAKA-1206 Export Markets: North America, South America, Eastern Europe, Southeast Asia, Africa, Oceania, Mid East, Eastern Asia, Western Europe etc. Estimated Expense-Variable and Fixed: The available capacity of solar panel varies from 20 wp to & 5 wp for Bangladesh. The cost of solar panel and wind turbine, installation cost and cost of other materials depends on how many wp are needed. They are varies at different prices.
But the price ranges are generally between 12,650 tk to 45,000 tk. The cost of installing wind turbines also varies where they are sited. Compared to other renewable sources of energy, solar and wind power has a high capital outlay but the maintenance requirements and costs are extremely low. From our projected income statement the estimated expense in terms of fixed cost and variable cost of our business are- Fixed Cost Variable Cost Manager’s salary 100000 Office expense 2000 Sales manager salaries 75000 Utilities expense 18000
Rent expense 30000 Advertising expenses 100000 Depreciation 9000 Transportation expense 50000 Insurance 4500 Supplies 3000 Interest expense 500000 Repair expense 7500 Total: 718500 180500 Total Cost: (718500+180500) =899000 Tk Determination of BEP: As our business is a completely new one, thus it is our expectation that first 2 and 3 year our business should be at Break-Even Point (BEP).
We will make our effort best so it must not go beyond the BEP.
Consideration of Credit Sales: In our business plan we are considering sales on credit as it will encourage customer to purchase more that is helpful to spread our business all over the country in future. Our administrative decision will involve a recovery agency, we must make a provision for doubtful debts and will also include a number of terms and conditions. In this manner customer can pay on installment basis for which an installment policy required to be considered. Statement of Assets: The asset that are estimated in case of our business are presented below showing a statement of assets to be used- Statement of Assets Assets |Tk | |Current assets: | | |Cash |741000 | |Accounts receivable |100000 | |Fixed assets: | | |Building |3500000 | |Plant |4000000 | |Furniture |40000 | |Investment |200000 | |Total |