Entrepreneurial Development Programme (EDP) :: According To N. P. Singh

Entrepreneurial Development Programme (EDP) refers to a programme which is
formulated to assist the individuals in reinforcing their entrepreneurial motives, and

attaining competencies and skills which is essential for performing an entrepreneurial role
successfully.
Entrepreneurial Development Programme (EDP) :
According to N. P. Singh :
"Entrepreneurship Development Programme is designed to help an individual in
strengthening his entrepreneurial motive and in acquiring skills and capabilities necessary
for playing his entrepreneurial role effectively. is necessary to promote this understanding
of motives and their impact on entrepreneurial values and behavior for this purpose”.
EDP can also be defined as a pre-defined process that recognizes, inculcates, designs and
refines the skills and proficiencies of an individual to establish his own enterprise. In
recent times, EDP has become a professional task which extensively encourages the
development of funded and private businesses. The programme is meant to grow
entrepreneurial aptitudes among people.
Objectives of Entrepreneurial Development Programme (EDP) :
Following are the main objectives of EDPs :
1. To make people learn compliance with law.

2. To develop and fortify entrepreneurial quality, i.e., motivation or need for achievement.
3. To develop small and medium scale enterprises in order to generate employment and
widen the scope of industrial ownership.
4. To industrialize rural and backward sections of the society.
5. To understand the merits and demerits of becoming an entrepreneur.
6. To investigate the environmental set-up relating to small industries and small businesses.
7. To design project for manufacturing a product.
8. To increase the supply of entrepreneurs for quick industrial development.
9. To prepare individuals to accept the uncertainty involved in running a business.
10. To develop managerial skills among small entrepreneurs for improving the performance
of small-scale industries.
11. To offer profitable employment opportunities to educated young men and women.
12. To expand the sources of entrepreneurship.
Phases of Entrepreneurial Development Programme (EDP) :
All the EDPs mainly consist of three phases, which are illustrated as below:
1) Pre-Training Phase :
This step can be considered as the introductory phase in which the entrepreneurship
development programmes are launched. A wide spectrum of activities are performed in
this phase arc described below :
i) Identification of suitable location where the operations can be initiated like a district.
ii) Selection of an individual as a course coordinator or project leader to coordinate the
EDP activities.
iii) Organisation of basic infrastructural facilities related to the programme.
iv) Conducting the environmental scanning or industrial survey in order to look for better
business opportunities.
v) Developing various plans associated with the programme, like :


a) Promotional activities by using electronic or print media, posters, leaflets, etc.
b) Contacting business experts, different agencies, NGOs that can become a part of the
programme, directly or indirectly.
c) Printing the application forms and availing them in different locations with the
instructions.
d) Establishing selection committee for screening of candidates.
e) Preparing budget and getting it approved from the management and arranging other
activities which are related to the programme.
f) Arranging and deciding the need-based elements in the syllabus of training
programme and to contact guest faculties for the training session.

vi) Looking for the assistance of various agencies such as DICs, banks, SISI, NSIC, DM and
so on.
vii) Conducting industrial motivational campaigns to increase the number of applications.
2) Training Phase :
The main function of any EDP is to impart training to future entrepreneurs and guiding
them for establishing the enterprise. The normal duration of the entrepreneurship
development programme is 4-6 weeks and it is usually a full time course. The objectives,
training inputs and the centre of focus are explained in the programme design.
Commonly, it is considered that the trainees do not have enough information about the
change because of which new programme is prepared. Each trainee should appraise
himself at the termination of the training programme to have a clear view about his/her
future endeavours.
Training Phase - Programme Design
Objectives Focus Inputs
Promoting and Entrepreneur. Behavioral inputs.

sustaining the skills
of entrepreneurship
and building up the
confidence.
Helping in Enterprise Business

establishing the establishment opportunity
new enterprise Creating enterprise. guidance,
through decision- information and
making. project planning
inputs, technical
inputs. Guiding for
enabling business
opportunities.
information and
project planning
and technical
opinions.
Successful and Enterprise Management inputs,

profitable operation management, first- plant visit/in-plant
of enterprise. hand knowledge of training
Industrial exposure factory layout, Management
Performing business sites, etc. suggestions
profitable and Information related industrial visit or
successful to factory layout, training.
operations, plant location,
exposure various organisation
industrial management and so
knowledge. on.
3) Post-Training Phase :
This phase is also referred as the phase of follow-up assistance. In this phase, the
candidates who have completed their programme successfully are provided post-training
assistance. This phase is very important as after the completion of training programme,
most of the entrepreneurs face a lot of hardship in the business plan implementation.
Thus, with the help of various counselling sessions, the training organisations try to extend
their support to trainees. Members like State Financial Corporation, commercial banks,
training institutions and District Industries Centre constituted all together to assist the
entrepreneurs on the basis of mentioned goals :
To assist trainees in a meaningful manner so that trainees can realize their business
plan.
 To analyse the development made by trainees in the project implementation.
 To evaluate the post-training approach.
 To provide escort services to the trainees with the help of various promotional and
financial institutions.
Commonly, these follow-up action meetings are conducted after every three years of
training completion and the tools used for the follow-up are :
 Postal questionnaires.
 Telephonic follow-up.
 Individual contact by the trainer.
 Team meetings.
A number of government and private institutions are providing assistance in India to

entrepreneurs. Some of them are listed below :
 Small Industries Development Organisation (SIDO),
 Commercial Banks,
 National Alliance of Young Entrepreneurs (NAYE),
 National Institute for Entrepreneurship and small Business Development (NIESBUD),
 Entrepreneurship Development Institute of India (EDI),
 India Investment Centre (LIC),
 Small-scale industrial Development Bank Of India (SIDBI), and
 Technical Consultancy Organisation (TCO).
Importance of Entrepreneurial Development Programme (EDP) :
The importance of EDP is as follows :
1) Formation of Employment Opportunities :

Entrepreneurial development programmes generate employment opportunities in the
developing and under-developed countries. It assists and encourages individuals to
establish their own business and enable them to become self-employed. By setting-up.
several business enterprises, EDP also creates abundant job opportunities for other people.
2) Provides Adequate Capital :
A large amount of capital is required to set-up a business enterprise. This financial
assistance is provided by various EDP agencies. EDPs instruct the development banks such
as ICICI, IDBI, IFCI, SIDCs, etc., to take initiative in promoting entrepreneurship.
3) Proper Utilization of Local Resources :

New entrepreneurs utilize the available local resources in the most effective way. This
utilization of resources plays an important role in the development of a particular area or
region at minimum cost. EDPs .guide, educate and teach the entrepreneurs to exploit the
local resources efficiently.
4) Increased Per Capital Income :

Entrepreneurs have the ability to organise the factors of production and utilize them in the
most productive manner by establishing an enterprise. This development leads to
increased production, employment and wealth generation. As a result, overall productivity
and per capital income of the economy is raised.
5) Improved Standard of Living :

EDPs provide latest technologies and innovative methods to entrepreneurs which helps
them to produce large quantity of products at lower cost. This also enables entrepreneurs
to exploit the available resources and produce quality products. This automatically leads to
improved standard of living.
6) Economic Independence :
EDPs strengthen the entrepreneurs to produce variety of products in large quantities at
competitive prices. It also helps an entrepreneur to develop substitutes of imported
products which prevents the country from being dependent on other foreign countries. It
also saves foreign exchange of the country.
7) Preventing Industrial Slums :

Most of the developed industrial areas are facing problems related to industrial slums. This
leads to over burdening of public amenities and also affects the health of people adversely.
EDPs offers several subsidies, incentives, infrastructural support and financial grants to
new entrepreneurs for establishing their businesses, thus, preventing the growth of
industrial slums.
8) Reducing Social Tension :

A majority of youngsters and educated individuals of the society are in the state of social
unrest and tension. This social tension restricts them from finding the right direction in
their careers. Most of the students feel frustrated about not getting a job after the
completion of education. In such situations, EDPs helps people by providing them proper
guidance, assistance, training and support for establishing new enterprises and businesses,
As a consequence, social tension is reduced as they generate self-employment
opportunities.
9) Facilitating Overall. Development :

EDPs facilitate entrepreneurship which helps in the overall development of the society by
producing new products, innovative services, low cost consumer goods, job opportunities,
increasing the standard of living, and overall productivity. This facilitates in the overall
development of the economy and the country.
RELATED TOPICS :
CAPITAL BUDGETING
TYPES OF DEPOSITS
MALCOLM BALDRIGE (MBNQA)
PERFORMANCE MANAGEMENT
STRATEGIC BUSINESS UNIT
SOCIAL AUDIT
ENTREPRENEURIAL GROWTH
WHAT IS CREDIT APPRAISAL ?
ENTREPRENEURIAL TRAINING

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Entrepreneurial Development Programme (EDP) refers to a programme which is

formulated to assist the individuals in reinforcing their entrepreneurial motives, and

Entrepreneurial Development Programme (EDP) :

Objectives of Entrepreneurial Development Programme (EDP) :

Following are the main objectives of EDPs :

1. To make people learn compliance with law.

Phases of Entrepreneurial Development Programme (EDP) :

iii) Organisation of basic infrastructural facilities related to the programme.

v) Developing various plans associated with the programme, like :

vii) Conducting industrial motivational campaigns to increase the number of applications.

Training Phase - Programme Design

Objectives Focus Inputs

Promoting and Entrepreneur. Behavioral inputs.

Helping in Enterprise Business

Successful and Enterprise Management inputs,

A number of government and private institutions are providing assistance in India to

Importance of Entrepreneurial Development Programme (EDP) :

The importance of EDP is as follows :

1) Formation of Employment Opportunities :

3) Proper Utilization of Local Resources :

4) Increased Per Capital Income :

5) Improved Standard of Living :

7) Preventing Industrial Slums :

8) Reducing Social Tension :

9) Facilitating Overall. Development :

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