Entrepreneurship Development Programme (EDP)
What is Entrepreneurship Development
Programme (EDP)
Entrepreneurship Development Programmes means a
programme designed to help a person in strengthening his entrepreneurship
motive and in acquiring skills and capabilities necessary for playing his
entrepreneurship role effectively. A programme which seeks to do this can be
called as entrepreneurship Development Programmes.
Entrepreneurship Development Programmes aim at
developing entrepreneurship motives, skills and helping to play his/her role
& as an entrepreneur effectively, entrepreneurship Development Programmes
are primarily concerned with developing and motivating entrepreneurship talent
and grooming him to be an effective entrepreneur.
Features of Entrepreneurship Development
Programme (EDP)
The basic features of the entrepreneurship
development programme has gone through several modifications over time
as:
1. Identification
and careful selection of entrepreneurs for training;
2. Developing
the entrepreneurship capabilities of the trainee;
3. Equipping
the trainee with the basic managerial understanding and strategies;
4. Ensuring
a viable industrial project for each potential entrepreneur;
5. Helping
him to secure the necessary financial, infrastructural and related assistance;
and
6. Training
cost is highly subsidised and only a token fee is charged. A deposit is,
however, taken to ensure commitment of participants.
Need of Entrepreneurship Development
Programme
Entrepreneurship Development Programme means a
programme conducted to help a person in strengthening his entrepreneurship
motive and in acquiring skill and capabilities required for promoting and
running an enterprise efficiently. It is a programme which is conducted with a
motive to promote potential entrepreneurs, understanding of motives,
motivational pattern, their impact on behaviour and entrepreneurship value is
termed as entrepreneurship development programme.
The need of EDP is as follows:
1. It
helps in developing entrepreneurs
2. It
helps entrepreneurs in developing and improving their skills
3. EDP is
a tool of industrialisation and path to economic growth through
entrepreneurship
4. EDP
helps in dispersal of economic activities in different regions by providing
training and other support to local people
5. It
provides opportunities for self-employment and entrepreneurship careers
6. EDP
develops motivation, competence and skills necessary for successful launching,
management and growth of the enterprise
7. EDP,
by inculcating entrepreneurship capabilities and skill in the trainees, creates
a new generation of entrepreneurs
Objectives of Entrepreneurship Development
Programme
The objectives of an entrepreneurship development
programme (EDP) are categorised into two types:
1. Short-Term
Objectives
2. Long-Term
Objectives
1. Short-Term Objectives:
These imply the objectives which are to be achieved
immediately after the completion of the programme.
The short-term objectives are:
1. Preparing
a person mentally for the entrepreneurship venture
2. Making
him competent to scan the environment and situation within the existing
regulatory framework
3. Help a
participant in the fixation of his/her goal of life as entrepreneur as an
objective in general.
2. Long-Term Objectives:
An entrepreneurship development programme seeks to
equip the participants with all the skills required for the establishment and
smooth running of business ventures. The ultimate objective is that the
participant under training should establish his/her own venture.
The objectives of an EDP are as follows:
1. To
enlarge the supply of entrepreneurs for rapid industrial development
2. To
develop small and medium scale sector which is necessary
3. To
industrialise rural and backward regions
4. To
provide gainful employment to educated young men and women
5. To
diversify the sources of entrepreneurship and
6. To
improve the performance of small industries by developing managerial skills
among small entrepreneurs
EDP Programs
A typical program should cover:
1. entrepreneurship
motivation
2. Business
skills
3. Industry
Interactions
4. Compliance
and statutory aspects
5. Venture
Creation and Management
6. Schemes,
Grants, incentives and subsidies
7. Support
Systems
Importance of Entrepreneurship Development
Programme
EDP can be beneficial in the following ways:
1. Economic Growth:
ADVERTISEMENTS:
EDP is a tool of industrialisation and path to
economic growth through entrepreneurship.
2. Balanced Regional Development:
EDP helps in dispersal of economic activities in
different regions by providing training and other support to local people.
3. Eliminates Poverty and Unemployment:
EDPs provide opportunities for self-employment and
entrepreneurship careers.
4. Optimum use of Local Resources:
ADVERTISEMENTS:
The optimum use of natural, financial and human
resources can be made in a country by training and educating the entrepreneurs.
5. Successful Launching of New Unit:
EDP develops motivation, competence and skills
necessary for successful launching, management and growth of the enterprise.
6. Empowers New Generation Entrepreneurs:
EDP, by inculcating entrepreneurship capabilities
and skill in the trainees, created a new generation of entrepreneurs who
hitherto were not entrepreneurs.
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