Question

1. Explain the role of Educational Institutions for Entrepreneurial Development?

2. What is the importance of small and micro enterprises in the development of Indian Economy?

3. What are the main causes for sickness of small business units as well as the remedial measures?

Answer 1

Answer 1=

In the development of the entrepreneurial competencies among the citizens, the role of educational institutions is quite important. The different types of short term, long term programs can be initiated by these institutions that may or may not need the graduation certification. By facilitating training, the individuals can be motivated to come up with some new ideas and manners of doing the things that will result in entrepreneurship. These inspiring entrepreneurs can get clues for success by analyzing the case study of some successful entrepreneurs and depend on these, these people can develop their own strategy. These institutions will be a good platform for these individuals to promote and inculcate creativity and innovativeness.

Answer 2=

small and micro-enterprises play a significant role in the economic development of India. These enterprises provide fresh talent and entrepreneurs to the country. This will also be helpful in n having economic stability in the form of economic growth and increased exports. This sector is one of the important elements in the economic growth of India as it contributes almost 8% in GDP. The different types of areas such as exports, production, employment are also supported by MSME. These units not only helps the country in achieving the higher growth rate but they can also release the pressure on the economy by facilitating jobs to the citizens

Answer 3= The main reasons for the sickness of small business units=

Inadequate support from the government

The lack of professional management in these units

Poor or obsolete technology

Lack of adequate financing

Unavailability of cheap energy resources

The unskilled and unprofessional manpower

Possible way outs=

The government has to provide the different types of impetus and subsidies

The banks and financial organizations are needed to be motivated to provide them more credit facility

The government needs to develop many training institutions for both the management and the employees for these units

The government needs to develop better infrastructure services