SWOT Analysis

A situation analysis that examines external factors and maternal conditions of an organization to identify strength, weakness, opportunities and threats.

a.       Strength

-          Distinctive competence

-          Strong financial resources

-          Cost of price leader

-          Strong brand name

-          Innovative skills

-          Skilled human resources

-          Loyal customers

-          Superior technological know how

b.      Weakness

-          No clear direction

-          Weak market-share

-          Weak distribution network

-          Weak market silage

-          Poor marketing competency

-          Lack of distinct competency

-          Absolute plant and facilities

-          Poor track record of strategic implementation

c.       Opportunities

-          Growth in new market

-          New product development

-          Quality improvement

-          Expand product line

-          Vertical integration

-          Emerging customer needs

-          Economic advantage

-          Related product diversification

-          Adverse demographic change

d.      Threats

-          Entry of low cost

-          Competitors

-          Slow market growth

-          Substitute products

-          Change in technology

-          Adverse legislation

-          Changing buyer’s needs

-          Strong customer pressure

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Patent

An instrument proceeding from the government and convincing  a right, authority or grant to an individual, as a patent for a tract of land, or for the exclusive right to make and seal a new invention.

Trade mark

Generally speaking a distractive mark of authority, through which the product of particulars manufacturers or the vendible commodities of particular merchants may be distinguished from those of others. It may consist in any symbol or in any form of words, but as its office is to point out distinctively the origin or ownership of the article to which it is affixed it follows that no sign or form of words can be appropriated as a valid trademark which, from the nature or the fact conveyed by its primary meaning, others may employ with equal truth and wit equal right for the same purpose.

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Copyright

The right of literary property as recognized and sanctioned by positive law. An intangible, incorporeal right granted by statute to the author or originator or certain literary or artistic productions, where sale and exclusive privilege of multiplying copies of the same and publishing and sealing them.

Benefits of rural tourism

1.       Economic flow

2.       Social transformation

3.       Cultural exchange

4.       Economic assistance

5.       Marketing resources

6.       Employment formation

7.       Management of rural resources

8.       Increase in physical resources

9.       Cultural conservation

Structure and features of rural market

1.       Unorganized

2.       Predominance of mini market

3.       Seasonal

4.       Predominance of intermediaries

5.       Highly influenced by Indian market

6.       Poor market mechanism

7.       Lack of standard measurement system

Business Plan

1.       It is roadmap of proposed new venture of the entrepreneur

2.       It is a wirtten document that details the proposed venture

3.       It describe current status, expected needs and projected results of the venture

4.       It allocates resources in a co-ordinate manner.

5.       It provides clear picture about what the venture is?, where it is projected to go?, how to get there?

6.       It also present a time table for implementation of new venture

7.       It provides a set of guidelines for goals, activities to be done, timing of doing activity, responsibility of doing activities resources needed and projected profit.

Insurance

1.       It is the legal contract between the Insurer and the insured

2.       It transfer the risk from insured to insurer  for a premium

3.       It protects life and property from risks

4.       Lose of life can be due to death, bad health or accident

5.       Lose of property can be due to fire, flood, earhtquake, terrorism, theft and bad debts.

6.       Insurance provides a sense of security.

The types of insurance available to entrepreneurs are

a.       Property insurance

b.      Casualty insurance

c.       Life insurance

d.      Market competition Insurance

e.      Health Insurance

Contract

A contract is a legally building binding agreement between two parties (suppliers, landlords, employees and clients)

Every contract contains conditions which need to be meet

The branch of contracts leads to payment of damage or loss by courts

Product safety and ability

Product safety refers to responsibility to meet any legal specification regarding a new product prescribed by consumer protection act of a country.

It prohitbit marketing of unsafe product with defects

Injuiry or death resulting from product defects create product liability

Claims for product liability can be for negligence, warranty, strict liability and misrepressentation concerning quality of products.

Trade Mark & Copy Right

Trade Mark

It is distinctive word, name, mark, symbols, design, logo that a company uses to identity and distinguish its product from those of other.

The right of use can be licensed or sold to others

Generally speaking a distractive mark of authority, through which the product of particulars manufacturers or the vendible commodities of particular merchants may be distinguished from those of others. It may consist in any symbol or in any form of words, but as its office is to point out distinctively the origin or ownership of the article to which it is affixed it follows that no sign or form of words can be appropriated as a valid trademark which, from the nature or the fact conveyed by its primary meaning, others may employ with equal truth and wit equal right for the same purpose.

Copy Right

It is an exclusive property right granted to authors and originator of literacy or artistic production

It must ne original and in a tangible form

Literacy work including books, periodicals, computer programs

It may be dramatic or musical work, pictorial, graphic works, films and audio-visual works, sound recording.

The right of literary property as recognized and sanctioned by positive law. An intangible, incorporeal right granted by statute to the author or originator or certain literary or artistic productions, where sale and exclusive privilege of multiplying copies of the same and publishing and sealing them.

Steps and process of establishing new venture

1.       Business opportunities identification

2.       Sources of generation new ideas

a.       Situation survey

b.      Present work environment

c.       Outside source

d.      Research and development

3.       Methods of generating new ideas

4.       Selections of best ideas

Legal environment for entrepreneurship

Legal environment refers to all the legal provisions that affect entrepreneurs

They promote or restrain entrepreneurial activities

It consists of law, rules, regulations and ruling of the courts of law

It includes.

1.       General business legislation

2.       Labiour legislation

3.       Financial legislation

4.       Social legislation

5.       Social legislation

6.       Intellectual property rights legislation

Risk in entrepreneurship

Risk refers to calculated chances taken creating and running a new venture

Types of risks in entrepreneurship

·         Financial risk

·         Carrier risk

·         Family and social risk

·         Psychic risk

Factors Affecting Entrepreneurship growth

Entrepreneurship growth are measured in terms of profit, sales and goal achievement

Two factors affects the growth ie. Economic factors and non-economic factors

Economic Factors- economic factors are economic system capital, human resources, raw materials, markets, competition and franchise

Economic systems have three models

1.       Free market economic(capitalism)

2.       Centrally planned economic(Socialism)

3.       Mixed economic

Non Economic factors- non economic factors are political factors, social factors, psychological factors and technological factors.

Case Study

Types

ü  व्यक्तिगत घटना अध्ययन

ü  सामुहिक घटना अध्ययन

Characteristics

ü  अनुसन्धान इकाइको गहिरो अध्ययन

ü  समस्याको गहिरो अध्ययन

ü  घटेका तथा घट्ने सम्पूर्ण अध्ययन

ü  गुणात्मक अध्ययन

Interview

Charactersitcs

ü  दुई वा दुई भन्दा बडी व्यक्तिहरु बिचको सम्पर्क

ü  अन्तरबार्ताकार र उतर्दाताको आबस्यकता

ü  प्राथमिक तथ्यांक संकलन गर्ने प्रमुख बिधि

ü  उदेश्य मुखी कुराकानीको आदनप्रदान

Objectives

ü  प्रतक्ष्य आमनेसामने सम्पर्क द्वारा सुचनाको संकलन

ü  आबलोकनको अवसर प्राप्तआन्तरिक तथा व्यक्तिगत सूचना प्राप्त

ü  परिकल्पना निर्माण गर्ने प्रमुख श्रोत

Observation

 Characteristics

ü  प्रत्यक्ष अध्ययन

ü  बडी भरपर्दो तथ्य प्राप्त हुने

ü  Human Sensus को पूर्ण प्रयोग हुने

ü  उदेश्य पूर्ण एबं सुक्ष्म अध्ययन

Types of Observation

ü  Controlled Observation

ü  Uncontrolled Observation

ü  Participent Observation

ü  Non-Participent Observation

ü  Mass Observaiton

Methods of data collection

There are two sources of data collection. they are:

1.       Primary Sources

ü  Observation

ü  Interview

ü  Questionnaire

ü  Casestudy

ü  Survey

ü  Others like PRA, RRA,etc

2.       Secondary Sources

ü  Doccuments and Records

ü  Census

ü  Regular and Occasional Survey

Research Steps

1.       Realizing Problems

2.       Problems Identification

3.       Object Selection

4.       Literature Review

5.       hypothesis Formulation

6.       Research Design

7.       Data Analysis

8.       Data Collection

9.       Hypothesis Testing

10.    Generalisation

11.    Report Writing

Other Objectives

ü  To generate new Knowledge

ü  to Improve understanding

ü  To Solve the specific Problms

ü  To Evaluate the existing Theories/principles

ü  To taste Hypothesis

ü  To the scientific study of the firm, business, economy etc.

Characteristics and Objectives of Scientific Research

ü  It is based on the facts, observable experience empirical evidence.

ü  It is involved in gathering facts/information’s from the first hand/secondary sources

ü  It is involved to answer the questions of unsolved problems or it is directed towards the solution of specific problems.

ü  It is self corrective in nature, whenever new facrs are found the old are revised.

ü  It follows a systematic method and an indepth study for the finding solution of the particular problems.

Marketing Research

“Research is the systematic effort to gain a new knowledge” –Redman and Morry

“Scientific research is the systematic controlled, empirical and critical investigation of hypothetical proposition about the presumed relation among natural phenomenon.”- Kerlinger (“बैज्ञानिक अनुसन्धान भनेको ब्यबस्थित, नियन्त्रित, अनुभवसिद्ध र समालोचनात्मक अन्वेषण हो, जसमा विभिन्न प्राकृतिक घतानाहरुमाथिको निहित सम्बन्ध परिकल्पनागत पूर्बमन्यताका रुपमा स्वीकार गरिएको हुने गर्दछ”)

Research is the careful investigation and inquiry especially through search new facts in any branch of knowledge.

अर्को शब्दमा भन्दा कुनै पनि समस्याको अनिभुती भएपछी वास्तविक समस्याको पहिचान, विश्लेषण र निष्कर्ष निकाल्ने ब्यबस्थित र बैज्ञानिक प्रक्रियालाई नै अनुसंधान भनिन्छ, 

संक्षिप्तमा भन्नु पर्दा Scientific Research/Investigation निम्न पक्षमा आधारित हुन्छ

०.       समस्याको समाधान प्रति निर्देशित

१.       अवालोकित अनुभव र प्रयोसिद्द तथ्यमा आधारित

२.       निश्चित परिक्ष्यण र व्याख्यामा आधारित

३.       प्रारम्भिक तथ्य संकलन वा संकलित तथ्यको आधारमा गरिने खोज

४.       अनुत्तरित समस्याको समाधानमा गरिने प्रयत्न

Problems of Cottage Industries

1.       Lack of Financial Support

2.       Shortage ofRaw Materials

3.       Lack of Basic Rural Infrastructure

4.       Competition with Large Industries

5.       Limited Market

6.       Lack of Skill Development Training

7.       Primitive Technology

8.       Lack of Protection Policy

9.       Lack of Security

Importance of Cottage Industry

A.       Creation of Employment Oppertunities

B.       Easy to Establish

C.       Basis of the development of Large Industries

D.       Utilization of Local Resources

E.        Source of Foreign Exchange

F.        Preservation of Art and Culture

G.       Supply of Consumer Goods

H.       Source of National Income

I.         Reduction fo Regional Disparities