Chapter 06: Towards Management

In today's class a general case was established for studying management course. Human beings are capable of using language to communicate their desires or wants. Any such expressed wants can be met by others. Market is the place where one expresses a want or comes to know about existing or an emerging wants. Economics is the system concerned with production, demand, supply and consumption of human wants. A general term given for things that meet needs of humans is goods, services.

Business is a process of identifying new needs and building a system for developing products and services to satisfy those needs. Identifying new needs for the first time and converting that into a business is called entrepreneurship. Management is the process of supplying those goods and services on regular basis.

For instance in 1970's Microsoft identified need for software (OS) and made a business sense out of it. In the mid 1990's Sabeer Bhatia identified a need for email services and created Hotmail. In the late 1990's Google recognized need for "search", invented an algorithm and built a business around that. Such examples endless.

In the management part, course covers the ideas and concepts associated with management and functions that that make up the management process: Planning, organizing and staffing, Controlling and directing

Chapter 05 Project Feasibility

Finding a successful business idea is a challenge. An alert mind can find a business idea from many sources. Some of the traditional sources of business ideas are

• Magazines
• Trade Journals
• Financial institutions
• Government & Commercial organization

In addition a constant watch on market trends and discerning a gap between demand and supply for any product or service can be a source of new business possibility
Market Feasibility
Feasibility study is a detailed work of collection of data analysis and conclude the feasibility of that operation.
For instance production feasibility study will use data such as production capacity of machinery to answer the question " can we produce required quantities of products, in required time frame with given cost constraints?
Market feasibility study includes

• Nature of market
• Cost of production
• selling price and profit
• Demand
• Market share
• Target Market

Technical Feasibility Study

• Location of Plant
• Construction of factory, plant and its size
• Availability of raw material
• Selection of Machinery
• Utilities
• Production capacity
• Staff requirements
• Technical viability

Financial Feasibility study

• Total cost of project
• Source of capital
• Subsidiary sources for additional finances
• Financing for future development of business
• Break even analysis
• Estimation cash and fund flow
• Return on Investment
• proposed balance sheet
• Cost of Labour and Technology

Social feasibility Study

• Location- will the people in the neighbourhood accept your plant there ( Remember Nano case in West Bengal)
• Social problem-
• Pollution - pollution concern - remember kaiga project
• Other Problems

Chapter 05: Project - Errors, Appraisal

Project formulation is an important and a crucial stage in project preparation. The success of any project almost always depends on the quality of thought put during project formulation. Some of the mistakes that can occur during project evaluation are

• Product selection- wrong product selection may lead to failure of entire project
• Capacity utilization estimates- under utilization of production capacity may lead to cost hikes
• Market Study- mistakes in market study may lead to wrong product selection, wrong demand estimations
• Technology selection- appropriate technology must be chosen- wrong selection may have implications for cost, non-availability of spare parts
• Location selection- choosing a location where government schemes provide additional benefits is good choice; a location away from raw material or market may add up unnecessary cost
• Selection of ownership form: wrong choice of ownership form may fail to attract enough resources

Project Appraisal
Project appraisal is a process of testing a projects feasibility. The different criteria used for project appraisal are

• Economic analysis- essentially asking the question : will this project make profit ?
• Financial analysis- how much money needed, in what quantities, during what phase of the project and ensure cash flow
• Technical Feasibility- adequacy of technology used to meet expected production targets
• Managerial competence- ability of managers to have control on project during its entire life cycle
• Market analysis-finding demand- confirming it- estimating

Chapter 05: PERT and network Analysis

Once a project is accepted for implementation, the next job is work out its detailed schedule. The implement schedules are worked out in terms of months, weeks, days and hours. There are many tools to evolve the sequential steps to be followed in a project implementation and also monitor the progress of project on similar basis.

The important of such tools is that they help in identifying hidden stages for project estimates. These estimates have a great impact in deciding the completion dates for projects.

NETWORK ANALYSIS:

Network is a set of symbols connected with each other in sequence. Each step indicates a stage in the project and its completion indicates the progress. They also show the dependencies such as which activity follows the other activity(s) and how delay in one or more them may affect project progress.

There are many network analysis tools available. Some of the well known are

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  PERT- Project Evaluation and Review Technique
  
  
  
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  CPM- Critical Path method
  
  
  

PERT

• 
  
  Developed in a missile project during 1950's. PERT helps implementers to find and sequence activities and helps them reduce time and other resource costs
  
  
  
• 
  
  In PERT- first all activities are listed- sequence and relationship between them established and critical activities are determined.
  
  
  
• 
  
  PERT helps in determining expected time of project completion
  
  
  
• 
  
  PERT limitations include that it is very expensive for reviewing
  
  
  

CPM

• 
  
  Developed by Dupont during 1950's.
  
  
  
• 
  
  CPM differentiates Planning and Scheduling
  
  
  
• 
  
  Planning determines activities to be carried out and
  
  
  
• 
  
  Scheduling introduces time frames to each activities
  
  
  
• 
  
  Advantages
  
  
  
• 
  
  CPM advantage is that it makes control easy for management
  
  
  
• 
  
  It Helps better planning
  
  
  
• 
  
  Disadvantages
  
  
  
• 
  
  CPM assumes that there is a standard time for completion of each activity
  
  
  
• 
  
  It is not a dynamic control tool
  
  
  

Chapter 05: Project Report - RBI Guide lines

A project implementation needs many resources such as finance. In order to seek finance from investors an entrepreneur must develop a detailed project plan. A document describing a project details in terms of any investment proposals is called PROJECT REPORT. To be useful to all concerned audiences such as government agencies, statutory bodies banks must contain a stated minimum information. RBI has recommended the following items to be included in any project report.
RBI recommended items to be included in PROJECT REPORT

• General Information- project feasibility- industry background
• Preliminary Analysis of Alternatives- describes issues such as demand and supply scenarios, availability of alternate/substitute technologies etc
• Project Description- brief description of technology, products/services of project intends to produce
• Marketing Plans- how to reach intended target market
• capital requirements and costs- money needed and how is that spent
• Operating requirements and costs- money needed to run a project on day -to -day basis is called operating costs - such as rent, salary for employees
• Financial analysis- investments, returns, depreciation, balance-sheet, ROI
• Economic Analysis- social relevance and profitability of the project

Chapter 05: Project: Identification,Selection. Formulation

The process of identifying a candidate idea for developing into a project is called Project Identification. This is a systematic process and some times it may be a serendipitous act.
Sources of Project ideas

• Observation
• Trade and Professional magazines
• Bulletin of Research organizations
• Government sources

Project selection is a careful study of each project idea in detail and choosing one of them for further consideration and development. A project idea is universal. However, a project must be implemented in the background of factors such as

• Technology
• Equipment
• Investment
• Location
• Market

Project Formulation
The process of studying a selected project further with reference to investment decisions is called project formulation. It considers issues such as relevance and feasibility of the project. It involves a step-by-step procedure to investigate and develop project further.

Chapter 05: Preparation of Project: Meaning, definition & Classification

An entrepreneurial idea must be documented by including details such as scope of idea, required resources etc. Such a document that details the idea, scope and potential of an entrepreneurial idea is called a Project Report. The process of developing a project report is called "Preparation of Project"

Definition:

A Project is a methodically evolved work plan devised to achieve specific objective within a specified period of time.

Projects vary in size, scope, nature , duration of completion and resource requirements.

Classification of Projects:

There are numerous criteria for classifying projects into different categories.

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  A project is said to be quantifiable in case its components can be described in numbers and results can be measured in numbers
  
  
  Eg. Power generation, National High way projects
  

• 
  
  On the contrary, Projects such as health care, education, awareness campaign are examples of non-quantifiable projects
  
  
  

Projects can be classified based on the sector to which they belong and are called sectoral projects

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  Education
  
• Transport
  
• Food processing project
  

Other criteria for classifying projects are as follows

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  capital intensive ( more money is needed)
  
• Labour intensive ( more people are needed e.g. garment)
  
• Demand based
  
• Supply based
  
• Size and Scale - small, medium and large
  

Chapter 04: Institutional Support - Institutions - II

1. Industrial credit and investment corporation of India (ICICI)

• set up in 1955 with the objective of developing small and medium industries in private sectors.
• Its issue capital has been subscribed government, private institutions and public
• Functions: provide assistance by way of rupee and foreign currency loans, underwriting and direct subscription to shares
• It guarantees loans from other private investment sources

2. National Small Industries Corporation (NSIC)

• NSIC started in 1955 with the objective of promoting and developing SSI through out the country.
• Functions include: providing machinery on hire purchase, assisting, marketing and exports, training of personnel

3. Small Industries development Organization (SIDO)

• The objective is development of various small-scale units in different areas. SIDO is a nodal agency to identify the needs of SSI units, coordinating and monitoring the policies and programmes
• Its functions include Co-ordination, industrial development, management activities
• help SSI get updated with various information related to the small-scale industries activities

4. Industrial Development Bank of India (IDBI)

• IDBI established in 1964 as a subsidiary to RBI to coordinate the activities of various financial institutions. In 1976 it was made an autonomous institution
• It has established small scale Industrial Fund ( SSIF) and also National Equity Fund Scheme ( NEFS) to support equity to tiny and small industries
• It provided a financial assistance to the tune of Rs 1,500 crores during 1987-88.

5. Small Industries development Bank of India (SIDBI)

• set up 1989 in response to a demand from small scale industries for an apex level institution for promotion, financing and development of small scale industries
• Functions include refinancing and discounting bills, direct participation in equity type of loans
• support technology support, upgradation, quality improvement, exports ...

6. State Financial Corporations (SFC)

• set up in 1948 to provide financial assistance to medium and large- scale industries.
• In 1951 the scope was extended to small scale industries
• There are 18 SFC in different states. In Karnataka it is KSFC
  
• It provides term loans to various small categories of business. The loans are based on security such as land, bonds

7 Industrial Finance Corporation of India ( IFCI)

• set up in 1948 .
• It extends financial assistance to industries through rupee and foreign currency loans, underwriting
• Recently it has started new promotional policies such as interest subsidy scheme for women entrepreneurs.

Chapter 04: :Institutional Support : Insitutions- 1

1. State Small Industries Development Corporation (SSIDC)

• SSIDC was started in 1956 in all states ( KSSIDC in Karnataka)
  
• Objective is to take care of growth and development of needs of village industries, tiny industries and small industries
• New industrial policy has made SSIDC responsible to meet marketing needs of SSI
• At present there are 18 SSIDC in India

2. Small scale Industries Board (SSIB)

• Established by central Government in 1954.
• The objective is to coordinate between different departments for the development of SSI
• The SSIB director reports to the government on various activities taken in this regard
  

3. District Industries Centre (DIC)

• DIC started in 1978 to provide integrated service at district level
• Functions include: conducting industrial potential surveys,prepare action plans for implementation, guide entrepreneurs relating to selection and procuring of machinery
• There are about 430 DIC's in India

4. Technical Consultancy organizations (TOC)

• Established to provide consultancy services as a package under single roof. IDBI,ICICI are examples
• Functions include : identify potential industrial projects; evaluation of projects, provide turn key services; undertake market services

5. Small Scale Industries Institute (SISI)

• set up provide training and consultancy to small entrepreneurs
• There are 28 SISI and 30 branch SISI set up
  
• Functions include: serve as an interface between state and central governments; trade and market information, project profiles; provide workshop facilities
  

Chapter 04:: Institutional Support

Entrepreneurship is a challenging endeavour. Starting an enterprise requires different resources and facilities. Finance is an important resource. Building infrastructure required for enterprise is the job of government. Government takes this job by establishing a set of specialised institutions to take care of the needs of entrepreneur. This is called institutional support.
Types of Institutional Support
Since India has a federal structure- both state and central governments have established institutions to support entrepreneurs

1. State Level Institutions

• State Directorate of Industries
• Small scale Industries development Corporation (SSIDC)
• District Industries Centre
• State Finance Corporation ( e.g. KSFC)
• Technical Consultancy Organization (TCO's) e.g. TECSOK
• State Industrial area development Board (SIADB) etc

2. Central Government Institutions

• Department of Small Scale Industries ( DSSI)
• Small Scale Industies Board (SSIB)
• Small Industries Development Organization (SIDO)
• National Small Industries Corporation (NSIC)
• Industrial credit and Investment Corporation of India ( ICICI)
• Industrial Finance Corporation of India (ICFI)
  

Chapter 03: Intellectual Property Rights: Forms

Business needs to protect its  "assets"  from  its competitors. Otherwise competition will copy and derive business benefits from its assests.Today business assets have become intangible in nature. In other words, business assets today eiether "ideas" or "idea based" products. Idea-based assets are called " Intellectual" properties.The legal frame work that protects these "intellectual" assets is called " Intellectual Property Rights" or "IPR"

Forms of IPR

• Patents: for protecting inventions
• Copy rights: for protection of publications such as " books" "music"
• Industrial design: for protecting industrials design such as a machine or a tools
• Layout designs- for protectig factory and other layouts
• Circuit layouts- for protecting IC designs

Chapter 02: Government Policy, IPR and LPG

Goverment Policy Towards SSI
Indian Goverment recognizing the importance of SSI's contribution to national economic development has taken many policy initiatives and started many schemes. Such policy statements are called Industrial Policy Resolutions(IPR)s. Here are some of the important IPR's 

• IPR 1948 - recognised that SSI is useful in harnessing local resources and thus contribute to national income
• IPR 1956- Reserved 128 items for exclusive production under SSI; set up Small Scale Industries Board (SSIB); started "Industrial estate policy"; DIC- District Industry Centre created
• IPR 1977- classified SSI into - Cottage and House hold industries, Tiny sector, and SSI
• IPR 1980- increased ceiling to Tiny industries ( 1 - 2 lakhs), Small scale industries ( 10-20 lakhs and ancillaries ( 15-25 Lakhs); DIC replaced by " Nucleus Plants"
• IPR 1990- created opportunities for wage and self-employement; invesement ceiling increased for all categories; 836 items under reservation
• IPR 2000- Prime Minister Rozgar Yozna ( PMRY) started
• IPR 2005-06- SSI in service sector recognized;

Impact of Liberalization, privatization and Globalization on SSI
Liberalization, privatization and Globalization policies have opened up Indian market to global players. Foriegn investement (FDI) is increasing and is created a new category of business areas. It has helped exporting SSI products and also to create Joint ventures. Sectors such as BPO are increasing in numbers

Chapter 02:GATT and WTO

In order to help trade among different countries and continents, the international community has come together, discussed and agreed upon certain policies to be adopted. Such policies are called treaties.

GATT:

General Agreement and Trade & Tarifs (GATT) is an international trade treaty. It was signed in 1947 by a group of 123 countries. It is a multi-lateral global initiatives. Multi-lateral treaty allows countries to trade between two or group of countries. GATT has no enforcing powers. Many barriers such a legal, language issues, distances causes bottlenecks in the formulation and implementation of GATT. Trade disputes took long times to settle.

WTO:

WTO ( World Trade Organization) was created in 1995 as a successor to GATT and was intended to overcome its limitations. It intends to facilitate multi-lateral trade agreements and hopes to eliminate tariffs. WTO has the following objectives

1. harnessing world's resources to increase income and standard of livings, creation of employments
2. Create equality among rich and poorly developed countries and share growth
3. Keep track of trade related activities, member countries inform WTO about their trade agreements

WTO and India

India is a member of GATT and WTO since their inception. India has taken active role and participation in international trade associations. It is also a member of G-21. By such participation India can ensure safeguards against any unilateral agreements between developed countries.

Chapter 02: SSI : Scope, reservation and advantages

Scope of SSI:
Indian economy is in growth mode and there is lot of scope for starting SSI. The following are some of the segments that have huge potential.

• Manufacturing activities
• Servicing/repairing services
• Construction services
• Retailing activities
• Wholesale Business

In order to encourage Indian entrepreneurs taking up SSI initiatives the government has reserved the following sectors.

• Food and Allied Industries
• Clock and Watches
• Metal cabinets
• Textile products
• Boats and Trucks body building

Role of SSI in Economic Development

The development of SSI creates jobs and hence increase in per-ca pita income. This in turn increases standards in living. In final form increases nation's GDP. Thus SSI play an important role in the nation's economic development

Advantages of SSI

• Need small capital
• Need simple machinery
• Use under utilized resources and employ under employed population
• SSI can cater to local requirements and can be based on locally available resources and labour
• May be export oriented and earn foreign exchange

Chapter 02::Ancillary & Tiny Industry

The IPR 1977 categorised SSI into three categories

• SSI
• Ancillary Industry
• Tiny Industry

Definition:
Ancillary Industry: Ancillary industries are small industries having investment in fixed assets, plant and machinery not exceeding Rs. 75 lakhs and engaged in

• manufacturing of parts, components, sub assemblies
• rendering of services, supplying, rendering or proposing to supply or render 30% production of total services, to other units of for production of other articles
• should not be subsidiary of or owned or controlled by any other undertaking

Tiny Industry: A unit is treated as Tiny industry where investment in plant and machinery does not exceed Rs. 5 lakhs

Chapter 02: Small Scale Industry (SSI)

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Entrepreneurship leads to industrialization. A Nation's prosperity can only be created by way of encouraging more people to be become entrepreneurs. One of the most popular forms of business shaped by an entrepreneurial process is small scale industry or SSI. International agencies such as IMF and governments world over are encouraging SSI. India since independence in 1947, has taken many steps to speed up economic growth by formulating encouraging policies towards SSI

Definitions of SSI

An SSI unit is defined based on the following criteria

• Land used/building
• Investment made
• Number of workers employed
• Production process employed ( power/no power)

In 1955, any enterprise within an investment less than Rs. 5 lakhs in land and machine, employing upto 100 workers was treated as SSI. In case SSI is used power ( electric) then the limit on employee strength was 50

With effect from 1997, the investment limit is raised to Rs. 3 Crores

Other definitions of SSI

Conventional definition: includes cottage and handicraft industries that employ conventional labour-oriented methods to produce conventional products mainly in the rural areas. Examples: Handloom, handicrafts

Operational Definition: "all undertakings having an investment in fixed assets in plant and machinery, whether held on ownership terms or lease or hire-purchase, not exceeding Rs. 60 lakhs" is considered a SSI for policy purpose

National Income Accounting : "A Unit engaged in manufacturing, servicing, processing, preservation of goods having investment in plant and machinery, at an original cost not exceeding Rs. 60 Lakhs.

Characteristics of SSI

• Small capital investment
• Owned by a single or at most 2 persons engaged in production
• Mostly family owned
• Work specialization is not well known
• Funded by owner's savings or short term loans
• Face tough competition
• Exploitation of HR and tural resources

Need and Rationale for SSI (why do people and nation need SSI)

• Innovation
• Self-expression and satisfaction
• Caters to Individuals taste and style
• Strengthnes the nation socially, economically
• spread over wide areas

Objectives ( Goals of SSI)

• Employment creation
• Improvement of output, income and better standards of living
• Elimination of economic backwardness
• Import substitution
• reduce regional imbalance

Class 03: Barriers to Entrepreneurship

Entrepreneurship is a welcome way to all. By becoming an entrepreneur can contribute to his immediate community and nation at large. However, there are certain factors that act as barriers in one person becoming an entrepreneur. Here is a list of some of the important barriers

1. Lack of Capital : Traditionally finance has been the biggest barriers to entrepreneurs. However in the recent past growing markets have brought in many financing institutions into action - banks, governments, venture capitalist are now more willing to extend financial assistatance to budding entrepereneurs
2. Lack of technical knowledge
3. Non-availability of raw materials and resources
4. Government regulations : Government regulations concerned with import/exports, ;license regime in the past acted as barriers. Now government regulations have become increasingly liberal
5. Obsolescence of technology or business idea
6. Unstable and unpredictable markets
7. Globalization and entry of foreign companies
8. Fear of risk

Class 03: Stages of Entrepreneurship

Entrepreneurial process demands a systematic approach. The following are the main stages of an entrepreneurial journey

• Identification of an opportunity
• Evaluation of the opportunity
• Project Plan preparation
• Determination and organizing the resources
• Managing the Enterprise

Class 03: Types of Entrepreneurship

Entrepreneurship is process of exploiting an economic opportunities. As such a particular form of entrepreneurship can assume many shapes, sizes and can be classified as such. In his book, Better India. Better World, N R Murthy calls a village shop keeper an entrepreneur. Here are some the type of entrepreneurship.

• Technical Entrepreneurship
• Trade entrepreneurship
• Retail entrepreneurship ( Reliance Fresh, More for you )
• Agricultural entrepreneurship
• Rural Entrepreneurship
• Urban entrepreneurship

and many more

Class 03: Functions of Entrepreneur

Entrepreneurship is all about creating a new business and making it a success. The entrepreneurial process entails three distinct kinds of functions to be carried out by the entrepreneurs.

Management Functions:

Function to be carried to run entrepreneurial enterprise

• Planning
• organizing
• Staffing
• Controlling
• Motivating

Additional Functions

A new enterprise depending on the progress it makes or challenges it needs to face, entails the following functions

• Expansion- growing business - ( see Yahoo has bought Maktoob )
• Diversification- entering into a new segment ( Nokia has entered Laptop business)
• Employee issues - recruitment/attrition
• Co-ordination with external world

While entrepreneurship is a universal phenomenon, any instance of it happens in a local conditions. In developing countries such as India, entrepreneurs may have to deal with following functions

• Management of scare resources ( talent, raw material)
• Dealing with Public ( eg. Tata's challenge in West Bengal)
• Engineering
• New products
• Parallel opportunities

Class 02: Process of Entrepreneurship

From concept to market, the entrepreneurship process takes places in the following phases.

• Identifying an opportunity
• Establish a vision
• Persuade Others
• Gather resources- financial, Human, others
• Create new venture
• Change and adapt with time
• Challenges faced by entrepreneurs
• Planning - technical feasibility and economic viability
• Implementation
• Production
• Labour Management
• Marketing Management
• Financial Management
• Administrative Management

Class 02: Entrepreneurship Defined

Concept of Entrepreneurship
The process of creating a new Enterprise is called "entrepreneurship". It is the propensity of the mind to calculate risks with confidence to achieve predetermined business or industrial objectives.
Entrepreneurship may be defined as a process of action an entrepreneur undertakes to establish an enterprise
More specifically, entrepreneurship is a function of

• foreseeing investment and production opportunity,
• organizing an enterprise to undertake a new production process,
  raising capital, and hiring labour,
• arranging for the supply of raw material, and selecting managers for day-today operations of the enterprise

Entrepreneur
An individual who bears the risk of operating a business in the face of uncertainty about the future conditions

Characteristics of an entrepreneur

• Creativity
• Innovation
• Dynamism
• Leadership
• Team Building
• Achievement motivation
• Problem solving ability
• Goal orientation
• Risk taking
• Commitment

Class 02: Entrepreneurship Examples

According to Peter Drucker, an entrepreneur searches for the changes, responds to that change, and converts that into a economic opportunity. Here are some examples

1. In mid 90's Sabeer Bhatia and his partner, Jack Smith noticed that more people are coming online and they need email service. At that time only employees of an organization had email accounts. The other alternative was to use paid e-mail services from companies such as AOL. They sensed an opportunity in offering web-based free email service as a business and started hotmail
2. In the late 90's, Larry Page and his partners noticed that more companies and people are publishing information on the web, and there is need to organize this web information and help people to find relevant information on the web. They built a search engine and it is known as Google
3. In 2000's, Capt Gopinath noticed that there is a need for " low cost no frills domestic airline that offers cheap air tickets for various cities and popular sectors in India". He started Air Deccan

Class 02: Introduction to Entrepreneurship

Entrepreneurship is gaining importance these days. With the advent of global economy and supporting liberalization process, this is one of the best time for entrepreneurial ventures. Engineering students need to know about this because combined with their technical education and contemporary economic atmosphere, they represent one of the best category to consider entrepreneurship as a professional choice. Entrepreneurship is a process of undertaking a risky venture for an anticipated economic reward. Entrepreneurship has been existing in human business for long time although in different forms and degrees. Broadly we can identify the elements of entrepreneurship in the followings

• Trades who is to buy at certain prices and hope to sell at uncertain, higher prices. e.g. buy grains from farmers and sell in markets
• Inventors seeking financial support to establish business based on their inventions. Thomas Edison commercialising his phone invention
• Wealth creators who used to adopt existing technologies to create a value chain. Iron and oil industrialists of 19th century
• Innovators who create an entirely new business such as Hot mail and Google Founders

BENEFITS of Entrepreneurship's

• every successful industry set up by an entrepreneur acts as a "seed of economic growth" resulting in economic fruits
• creates jobs- enhances standards of living
• Earns revenue for Government
• Helps regional development
  

EMPIP: Class 01: Introduction to the Course

Welcome to Class Summary

The Entrepreneurship, Management and protection of Intellectual properties (EMPIP) is a commonly prescribed course for all branches of engineering under autonomy course. The course covers the contents that answers the following CORE questions.

• How do you find a new economic value and create a new business? (Entrepreneurship)
• How do you run a business ? ( Management)
• How do you protect "wealth producing " properties of the business ( Protection of Intellectual properties)

The detailed course content is as follows

Entrepreneurship

• Introduction to entrepreneurship
• Small scale industries
• Institutional support
• Preparation of Project

Management

• Engineering Management
• Planning, forecasting and decision making
• Organizing & staffing
• Motivating
• Controlling

Protection of Intellectual properties

• Introduction to Intellectual properties
• Patents
• Copyrights
• Trademarks
• Industrial designs
• Term paper

Complete syllabus and Course Details and Evaluation scheme

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