Blue Ocean Strategy For Entrepreneurship Promotion Dr Dhameja

Blue Ocean Strategy for Entrepreneurship Promotion Professor Suresh K Dhameja, Ph.D. [email_address]

Contents ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Introduction ,[object Object],[object Object],[object Object],Education is acknowledged as a major vehicle for human empowerment and transformation

Continued ,[object Object],One of the aims of education is to empower the youth, engage their interests and provide tools and experiences in order to improve their socio-economic condition. Y outh have always been at the forefront of social and economic activities and have been regarded as agents of change and innovation .

Cont inue d ,[object Object],TVET should have the ability to accelerate economic growth, provide marketable labor supply, minimize unemployment, underemployment and overlapping of skills and infuse technical knowledge, and reduce poverty.

Poverty ,[object Object],[object Object]

Vicious Cycle of Poverty Low saving and investment Low pace of capital formation Low average income Low productivity

Vicious Cycle of Poverty, Illiteracy, Low Technology & Rapid Population Growth Low level of skills Low level of literacy Low level of education Increase poverty Inadequate output and food Rapid growth of population Hurdles in the use of technology

Concept & Philosophy of Entrepreneurship ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Definition of an Entrepreneur ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Difference Between Wage and Self Employment ENTREPRENEURSHIP SELF-EMPLOYMENT INCOME GENERATION ACTIVITIES ENTREPRENEURIAL GROWTH PROCESS INITIAL, MIDDLE & TERMINAL STAGES

Employer Employee Status 7 Growing& generate Surplus Fixed Earning 6 Generates Wealth Consumes Wealth Contribution 5 Through pursuing Thru’ compliance Satisfaction 4 ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Orientation 3 Unlimited Limited Scope 2 Self-generating Self-saturating Nature 1 Self Employment Wage Employment Characteristic SN

Indirectly influencing entrepreneurship (individual support system and environment ) Directly influencing entrepreneurship through individual and support system Factors influencing entrepreneurship

Youth Unemployment and Underemployment ,[object Object],[object Object],[object Object]

Continued ,[object Object],[object Object],[object Object]

Cont inue d ,[object Object],[object Object]

Which factors should be created to improve the self- employability of TVET graduates and increase the system’s outreach? Which factors should be raised to improve the professional competence of graduates? Which factors should be reduced to improve the efficiency of TVET for promoting entrepreneurship? Which of the factors should be eliminated to improve system’s effectiveness in producing entrepreneurs? Four Actions Framework

Create - Raise - Reduce - Eliminate - Grid CREATE REDUCE ,[object Object],[object Object],[object Object],[object Object],[object Object],Overlapping of roles RAISE ELIMINATE Professional competence Private Sector Participation Obsolescence

Step I: Stimulating Entrepreneurship Strategy 1:Create: 1. Multi Tiered Strategy for Promotion of Entrepreneurship Experts from various agencies, institutions and industry Faculty Entrepreneurship as a career Qualities of an entrepreneur Government policies for SMEs Opportunity identification and product selection Various facilities and incentives by support agencies Managerial aspects of a SME Business plan preparation Interaction with successful entrepreneurs Contents 40-60 student per batch Batch Size 3 days( total of 24 hours) Duration To create entrepreneurial awareness in all students Objective

Suggested Model - contd. Step II: Achievement Motivation Training (AMT) Experts, entrepreneurship trainer motivators Faculty Sharing expectations and unfreezing Who am I? Ring-Toss Game TAT Story-writing Role playing Interaction with successful entrepreneurs Block-building exercise, business game Contents Maximum 30 students per batch Batch size 20 hours (3/4 days) Duration Application/Test/Interview Selection Process To identify those students who possess minimum entrepreneurial traits and provide them motivational training Objective

Suggested Model Step III: In-plant Training-I Faculty/ Company Supervisor/Manager Supervision Process 2 months Duration Identified potential entrepreneurs Selection Process Appraisal, interaction and understanding SME environment and processes Objective

Suggested Model Step IV: Subject on Entrepreneurship Development Experts from various agencies, organizations, institutes and successful entrepreneurs Faculty Opportunity Identification (10 hours) Marketing (10 hours) Finance and Accounting (10 hours) Technological Dimensions (10 hours) Behavioral Skills (HRD/Communication,10 hours) Project Formulation (15 hours) Rules and Regulations (15 hours) Content 80 hours Duration To give inputs for launching and managing an enterprise Objective

Proposed Evaluation Criteria 30% End term examination 6 30% Business Plan Preparation and Presentation of seminar 5 10% Study of the managerial aspects, industrial legislations, taxation procedures etc. 4. 10% Detailed survey of financial and other support organizations 3 10% Market survey of product and marketability aspects 2 10% Identification of the product/service 1 Weightage Activity Sr.No

Suggested Model Step V: In-plant Training- II Faculty/company supervisor/manager Supervision Process Identified potential entrepreneurs Selection Process One semester Duration To enable students to design and make prototype product or to undergo field services in case the student is interested in the servicing field and also to learn all the intricacies of industry/business. Objective

Model for Promoting Entrepreneurship in Curriculum of TVET In-Plant Training - II Subject on Entrepreneurship Development In-Plant Training - I Achievement Motivation Training Stimulating Entrepreneurship VIII Semester VII Semester VI Semester V Semester IV Semester III Semester II Semester I Semester Nurturing Phase Fourth Year Third Year Second Year First Year

STEP Strategy 1:Create : STEP Science Science Technology Technology Enterprise Enterprise

STEP – Mechanism for industry and TVET institute linkage Financial Institutions Industrial Promotion Agencies STEP TVET Institutions Industry ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

STEP – Functions and Activities Database and Information Continuing Education And Skill Development Business Facilities Quality Assurance Entrepreneurship Research and Development Incubation Product and Prototype Development Technology Transfer S T E P Selection

Strategy 1:Create: 2. Awareness of New Opportunities ,[object Object],[object Object],[object Object]

Continued ,[object Object],T VET sector has to play a very active role in conserving the environment. The measures could be through waste minimization techniques, Cleaner technologies, Green productivity, Non- conventional sources of technology etc.

Environment Related Opportunities ,[object Object],[object Object],[object Object],[object Object],[object Object]

Entrepreneurial Ideas ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Tips for Identifying Innovative Business Opportunities ,[object Object],[object Object],[object Object],[object Object],[object Object]

[object Object],Strategy 1:Create: 3. Intrapreneurs Complete ownership and completely independent No ownership and not completely independent Use of personal wealth or support from outside sources Access to company’s funds, facilities and support Enemy is market Enemy is corporate culture Developmental - creates something out of nothing Restorates growth and innovation in slow growth company Individual entrepreneurship Corporate entrepreneurship Risks own time and investment Risks capital of parent company ENTREPRENEUR INTRAPRENEUR

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Strategy 1: Create : 4. New Customers Ageing Society

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Ageing Society

[object Object],[object Object],[object Object],Age ing Society

[object Object],[object Object],[object Object],[object Object],Continued

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Re-Training Re-Skilling Re-Training Curriculum Industry-Institution Linkages for OJT Government Agencies Older Workers SMEs Industries Job Models Business Models Job Placement Job Career Mgt. Entrepreneurship Employment TVET Institutions Hands-on Training Job Seekers Application Socio-Economic Stability Re-training for Qualification and Certification

Rural Community ,[object Object],[object Object],[object Object]

Rural Community ,[object Object],[object Object],[object Object],[object Object]

Persons with Disabilities ,[object Object],[object Object]

Correctional Role of TVET ,[object Object],[object Object],[object Object],[object Object]

Strategy 2 : Raise : Professional Competence Interpersonal skills Enterprise, innovation creativity skills Work readiness & work habits Learning, thinking & adaptability skills Basic skills Using technology Practicality Business orientation Planning & organising activities Self-management Communication Team skills Customer service Cultural understanding Enterprise Entrepreneurship Creativity Innovation Learning Thinking Analytical capability & problem solving Systems thinking Adaptability ,[object Object],[object Object]

Strategy 2 : Raise : 1. Enhanced Status of TVET

Strategy 2 : Raise : Private Sector Participation

Strategy 3 : Reduce : Overlapping of Roles ,[object Object],[object Object],[object Object]

Strategy 4 : Eliminate : Obsolescence ,[object Object]

Strategy 4 : Eliminate : Obsolescence ,[object Object],[object Object],[object Object]

Conclusion ,[object Object],[object Object],[object Object],[object Object],[object Object]

Blue Ocean Strategy For Entrepreneurship Promotion Dr Dhameja

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