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Project Identification in Entrepreneurship

The document discusses project identification in entrepreneurship management. It explains that project identification involves collecting and analyzing data to locate business opportunities and develop them. Opportunities are identified through innovation like additive, complementary, or breakthrough innovations. Important aspects of project identification are that it has long-term consequences, involves commitment, puts ideas into action, and leads to economic and social development. Key criteria for selecting projects include investment size, location, technology, equipment, and marketing. Constraints in project formulation can include a lack of viable ideas, unrealistic objectives, insufficient resources, restrictive policies or procedures.

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20K views6 pages

Project Identification in Entrepreneurship

The document discusses project identification in entrepreneurship management. It explains that project identification involves collecting and analyzing data to locate business opportunities and develop them. Opportunities are identified through innovation like additive, complementary, or breakthrough innovations. Important aspects of project identification are that it has long-term consequences, involves commitment, puts ideas into action, and leads to economic and social development. Key criteria for selecting projects include investment size, location, technology, equipment, and marketing. Constraints in project formulation can include a lack of viable ideas, unrealistic objectives, insufficient resources, restrictive policies or procedures.

Uploaded by

ynkamat
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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Entrepreneurship Management

Project Identification
Entrepreneurship Management

 Project Identification : Collection, compilation and analysis of


data to locate potential opportunities for starting business and
development of such opportunities

 Opportunity is a business concept, which if turned into a


tangible product or service, by the enterprise, will result into
profit. It is all about creating values

 The search of a good idea:

Generate your own idea


Develop someone else’s idea
Entrepreneurship Management

Opportunities are identified through innovation/search of


business ideas. Types of innovation:

Additive Innovation – Fully exploiting already existing


resources, such as product lines extensions

Complementary Innovation – Offers something new and


introduces few changes in the structure of the business

Breakthrough Innovation (Radical Innovation) – Changes the


fundamentals of the business, creating a new industry and
new avenues for extensive wealth creation
Entrepreneurship Management

Importance of project identification


 It has long term consequences (make or break)

 Involves commitment which can not be easily reversed

 Ideas are put into action

 Projects are catalytic agents for economic development

 Involves creative use of resources- manpower, capital, raw


materials etc.

 Generates value addition and build-up national capital

 Brings socio-cultural development

 Leads to development of infra-structure and environment


Entrepreneurship Management

Criteria for selecting a project

 Investment size

 Location of project

 Technology to be used

 Equipment

 Marketing
Entrepreneurship Management

Constraints in project formulation

 Lack of a viable / feasible project idea

 Lack of realistic/ achievable objectives

 Lack of necessary resources / infrastructure to convert idea


into reality

 Policies of government / Legal restrictions

 Lengthy and cumbersome procedures to get finance, start


business

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