Entrepreneurship Development Program

25th - 27th October, 2016

 

Entrepreneurship Development Cell (Dronpreneur) of Dronacharya College of Engineering, Gurgaon in association with Entrepreneurship Development Institute, Ahmedabad organized Entrepreneurship Development Program from 25th - 27th October, 2016.

The three day program was conducted to give students a learning environment and help them indulge in activities that would motivate them to face real world challenges.

Day 1:

The first session was taken by Mr. Ravi Kaushal, Manager, State Bank of India in which he gave a brief introduction of entrepreneurship, character traits required for a person to become an entrepreneur from a common man. After that, students shared their views on entrepreneurship. Mr. Ravi explained the myths of students about entrepreneurship. For being an entrepreneur in this era of time, we do not need public support, a higher capital or a great family background. Though all of the above are important factors for being an entrepreneur, but the lack of any one of them cannot stop anyone from being a successful entrepreneur. The session was made very interactive by question-answers and motivational videos.

Next session was taken by Mr. Amit Yadav, Deputy Manager, State Bank of India. Mr. Amit started the session by giving a competency questionnaire of 70 questions. Those 70 questions were to check the 13 basic competencies of the students which included problem solving, information seeking, self-confidence etc. The session was very interactive. Students came to know on which level they are lacking and they can improve them so that they could achieve the success in their respective lives.

In the end of the session Mr. Ravi explained communication skills like essential elements of communication. He said that communication is just 10% of what we speak. Rest 90% depends on our non verbal actions such as body language, voice tone and expressions. One of the activities was performed to illustrate that listening to others or listening skills.

Day 2:

Mr. Ravi took the first session of the day on “Creative Thinking”. The objective of the session was to tell the students that Creative thinking is very necessary in every field. The ability to imagine or invent something new is the main feature of any entrepreneur. The session began with a task, in which students were asked to think about various uses of newspaper apart from getting information from it. Once the students were ready with their responses, they were given some more time to think and to add more things to their answers. Some more similar puzzles were given to test their ability to think in a different manner.

After that Mr. Amit discussed how someone can become creative or what the traits of creative people are. In the discussion he told that the basic requirement for thinking creatively is to have a relaxed mind. They are divergent thinker, curious, confident, and imaginative. After that he explained the need to be creative, one cannot survive in the environment of rapid growth of competition in today’s world if one is not creative.

The second session was on “Opportunity Identification & Selection”. Ability to identify business opportunity is an essential characteristic of an entrepreneur. Being an entrepreneur is a very big thing. Today, even government is also supporting Entrepreneurship. He explained the various things of Entrepreneurship like Value addition, Convenience, Time, and Energy. Most of the stereotypes which became huge businesses are under the above categories. The thing is that one should have ability to observe, to recognize the opportunity, to select it and finally to work on it to make it huge. Opportunities should not be grabbed at the right time, too early nor too late, have value to its buyer, attractive, durable.

The third session of the day was taken by Mr. Ravi on “Goal Setting and Smart Risk Taking”. There was a discussion on the importance of setting a goal, why goals fail and theory of setting goals. If the goal is not set in life, then one cannot do anything in life. Then there were some facts about why people don’t set goals in their life. This is because of their fear of failure, Lack of Ambition, Pessimistic attitude. He discussed some more facts about why goals fail like main cause of failure of a goal is that most of the time people only dream. There is a difference between a Goal and Dream. The dream is only a fantasy, but the goal should be well planned and should always be in mind. There is a SMART theory of setting goal S: Specific, M: Measurable, A: Attainable, R: Relevant, T: Time Bound. The goal should be set by keeping the above points in mind to ensure that it does not fail.

At last Mr. Amit gave a brief introduction on “Risk Taking” by an activity. The main motive of the activity was to observe that how students are managing Risks, how they are reacting and what are their strategies to earn points. Managing Risk is a very important characteristic of an entrepreneur. Risks should neither too very high nor too low.

Day 3:

The session was started by Mr. Pradeep Sharma, Assistant General Manager, State Bank of India on Business Plan Preparation. A Business Plan is a written document that describes a business. It covers objectives, strategies, sales, marketing and financial forecast. A business plan has many functions, from securing external funding, to measuring success within your business. He said that a bank is a financial institution that accepts deposits from the public in the form of saving account, current account and fixed deposit and pay interest and gives loans to individual, firms and agriculturist for their person, business or agricultural need and charge interest. Then he explained about credit, debit, interest and all the terms which are related to a bank and plays a very important role for an entrepreneur. He also discussed about the entrepreneurship, financial assistance by the MSME and Banks and Competency Mapping.

At the end he told how to take the loan from bank for starting own venture. He discussed PMMY - PRADHANMANTRI MUDRA YOJNA, CGTMSE-CREDIT GUARANTEE FUND TRUST FOR MICRO AND SMALL ENTERPRISES, STANDUP INDIA SCHEME and PMEGP- PRIME MINISTER EMPLOYMENT GENERATION PROGRAM. Then he told about the Detail Project Report (DPR). It is a part of the total business plan submitted to venture capitalists or financial institutions. It is the culmination of all analyses related to the project. The analyses- market and demand as well as technical and financial are presented in a systematic format, in the DPR.

The EDP was very knowledgeable and useful for the students.