| INTRODUCTION | | | | studies have investigated the personality |
| Every man is in a quest to engage himself in | | | | characteristics of entrepreneurs and how they |
| some activity or the other to earn money. Even | | | | differ from successful managers in established |
| though many people have money and other | | | | organizations. Some suggest that Entrepreneurs in |
| resources required to do business, they are not | | | | general want something different from life than |
| prepared to promote any business or industrial | | | | do traditional managers. Entrepreneurs seem to |
| activity since they are risk averse. Some people | | | | place high importance on being free to achieve |
| are unable to select a business though both in | | | | and maximize their potentials. |
| urban and rural areas more and more | | | | Entrepreneurial Development Programme |
| opportunities are available to promote various | | | | Entrepreneurs are not just born; they can be |
| industries. Only a handful establishes new business | | | | developed and trained to undertake ventures and |
| or set up industrial units. The Central and State | | | | be creative. However, everyone does not have |
| Governments are keen to promote | | | | the potential to become an entrepreneur. |
| entrepreneurship, but the industrial promotion in | | | | Entrepreneurial development is essentially an |
| India is not in tune with the growth of population. | | | | educational process and an endeavor in human |
| One of the main limitations is that there is no | | | | resource development. The entrepreneur as a |
| proper training, guidance and entrepreneur | | | | person brings in overall change through innovation |
| development programmes for promoting | | | | for the maximum social good. Human values |
| industries and to establish new units. This paper | | | | remain sacred and inspire him to serve the |
| discusses the pitfalls and prospects of | | | | society. He has firm belief in social betterment and |
| entrepreneurial development in India. | | | | he carries out this responsibility with conviction. In |
| Entrepreneurship | | | | this process, he accelerates personal, economic as |
| Good Entrepreneur can create a healthy economy | | | | well as human development. The entrepreneur is |
| and it helps to distribute wealth equally. | | | | a visionary and an integrated man with |
| Entrepreneurship is an important facet of industrial | | | | outstanding leadership qualities. With a desire to |
| growth and development of a nation. It is the | | | | excel, he gives top priority to Research and |
| backbone of a nation that sets its eyes on | | | | Development. He always works for the well-being |
| maximizing its performance in every field. The | | | | of the society. More importantly, entrepreneurial |
| spirit of entrepreneurship brings about enthusiasm, | | | | activities encompass all fieldss and foster a spirit |
| persistence and the ability to seek entrepreneurial | | | | of enterprise for the welfare of mankind. |
| opportunities that lead to success. A nation's ability | | | | Elimination of unemployment |
| to generate a steady stream of business | | | | Basically unemployment in India is structural in |
| opportunities can only come about when its | | | | nature. It is associated with the inadequacy of |
| people take to entrepreneurial activities. | | | | productive capacity to crate enough jobs for all |
| Entrepreneurs are essentially the engines of | | | | those able and will to work. In India not only is |
| growth for a nation. There are several factors | | | | productivity capacity much below the needed |
| that go into making a successful entrepreneur, | | | | quantity, it is also found increasing at a slow rate. |
| and he or she need not necessarily possess a | | | | As against this, additions to labor-force are being |
| strong business and financial background. On the | | | | made at a fast rate on account of the rapidly |
| contrary, well-conceived and well directed training | | | | growing population. Thus, while new productive |
| can always produce an outstanding entrepreneur. | | | | jobs are on the increase, the rate of increase |
| In addition, today's world with its burgeoning | | | | being low, the absolute number of unemployed |
| population offers limited avenues of employment. | | | | persons is raising year to year. This sort of |
| This makes entrepreneurship all the more | | | | unemployment is not a temporary phenomenon in |
| necessary for self -employment and | | | | the sense hat it will pass off on its own after a |
| small-business. The employment situation in our | | | | lapse of time. It is chronic. It requires for its |
| country is marred by a number of ugly marks. | | | | solution the application of long-term measures for |
| Large many are underemployed. Many are with | | | | remedying the defects in the economic structure. |
| out work. Quite a number though educated find | | | | In other words, it is the development of the |
| no or little work to use their talent or skill. | | | | economy alone that can take care of |
| What kind of Entrepreneurship needed? | | | | unemployment. |
| Entrepreneurship describes strategic thinking and | | | | By encouraging new entrepreneurs, we can easily |
| risk taking behavior that results in the creation of | | | | reduce the unemployment rate. Also in this regard |
| new opportunities for individuals and organizations. | | | | financial and subsidy support, technical support, |
| An Entrepreneur is someone who engages in | | | | marketing support and regulation on pricing and |
| Entrepreneurship. An Entrepreneur recognizes a | | | | other important facilities are needed for |
| viable idea for a business product or services and | | | | stimulating entrepreneurs. |
| carries it out. This means finding and assembling | | | | Conclusion |
| necessary resources – money, people, and | | | | In a developing country like India, development of |
| machinery, location to undertake the business | | | | entrepreneurship is essential for economic growth. |
| venture. The entrepreneur also assumes the risks | | | | India, being an agricultural country, shifting to self- |
| and reaps the rewards of the business. They | | | | employment has started late and is yet to find a |
| assume the financial and legal risks of ownership | | | | shape. While diversifying from the traditional |
| and at the time enjoy achieved business profits. | | | | occupations and enter the new fields, |
| Aggressive Entrepreneurs | | | | entrepreneurial development programmes need to |
| There are plenty of entrepreneurs in the world. | | | | be conducted vigorously. Setting up of small scale |
| Everyday thousands of entrepreneurs are coming | | | | industries is said to be the first step in the |
| into the world. Entrepreneurs start with a vision. | | | | evolution of entrepreneurs. The self entrepreneurs |
| Often they are unhappy with their present jobs | | | | are the solution to the concentration of economic |
| and see an opportunity to bring together the | | | | power, regional imbalances, exploitation of |
| resources needed for a new venture. However, | | | | monopolies and many other giant problems. In the |
| the image of entrepreneurs as bold pioneers | | | | olden days, it was believed that entrepreneurs are |
| probably is overly romantic. A survey of the | | | | born and not made. But effective entrepreneurial |
| United States fastest growing small firms found | | | | training has proved that entrepreneurial skills can |
| that entrepreneurs could be best characterized as | | | | also be inculcated. Entrepreneurial competencies |
| hard working and practical with great familiarity | | | | developed through proper and effective training |
| with their market and industry. A number of | | | | definitely result in superior performance. |