entrepreneurship development booklet
Post on 06-Apr-2016
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Prof. Sampath Amaratunga
Vice Chancellor | University of Sri Jayewardenepura
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Senior Lec. Rumal Weerasinghe
Director Chamber of Small and Medium Enterprise |
Department of Entrepreneurship | University of Sri
Jayewardenepura
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Tharidha Muhandiram
President AIESEC Sri Lanka
There are many organizations out there which claims to
do leadership development, and if you ask the questions,
"What is AIESEC?", the answer would be it an Global
Youth run organization, concerned with UNIQUE
leadership development.
Going into bit more detail, AIESEC offers it members a
platform where globally youth get connected and offers
experiential leadership development by providing
challenging work environments.
Working in this challenging environment inculcates
values in youth, and also it helps them to re-invent
themselves with confidence and understanding.
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Shamlin Assan Meedin
President AIESEC in University Of Sri
Jayewardenepura
AIESEC in University of Sri Jayewardenepura was started in
1995. Currently there are 150 members in our organization.
Our membership consists of members from all the four
faculties in University of Sri Jayewardenepura. AIESEC JLC
is well known as a leading organization which initiates
innovative programs in AIESEC.
We have identified that Sri Lanka is in need of entrepreneurs
to develop this country. One of the main issues identified is
that the youth are not motivated to innovate new things and
they are scared to take risks. By analyzing these facts and
through accurate observations we came up with the concept of
“Inzpire Sri Lanka” project with the objective of promoting
entrepreneurship among the Sri Lankan youth and to motivate
them to become entrepreneurs.
Another objective is to reveal the hidden stories of Young
entrepreneurs. Currently we have developed our website
(www.inzpiresl.com) which enables you to find all the stories
of young entrepreneurs in Sri Lanka. We believe this project
will be a gigantic step towards making a firm platform for the
youth in the country.
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Platinum Sponsor
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Introduction
Inzpire 2.0 is a project initiated by AIESEC in University of
Sri Jayewardenepura in line with AIESEC International to
address a pressing social issue in Sri Lanka. At present in a
rapidly developing society, having a dynamic youth force is
an absolute necessity. Inzpire 2.0 has thus set its aim to
inspire the Sri Lankan youth to be future entrepreneurs. At a
time our country is in need of new blood into the field of
entrepreneurship, Inzpire 2.0 is a bold and useful initiative
which will have a positive impact on both the present and the
future alike.
Through this guide we aim to provide assistance to aspiring
young entrepreneurs to hone their skills by partnering with
leading educational institutions to polish-up many fields of
education attributed to entrepreneurship. In other words
through this you will be to have an idea about the importance
of main functions in a business and business management and
reputes professional bodies to improve your knowledge and
skills The reason is Sri Lanka is in a need of new blood with
knowledge, where they will be able to successfully contribute
to the success of country.
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Importance of Finance to Businesses and
Entrepreneurs
You may be wondering what exactly is meant by the term
"financial management." It is the process you use to put your
numbers to work to make your business more successful.
With a good financial management system, you will know not
only how your business is doing financially, but why. And
you will be able to use it to make decisions to improve the
operation of your business. So financing plays vital role in
business environment. Success can bring a business to a
difficult crossroads. Sometimes to take on more business and
attain greater success, a company needs significant financial
investment to acquire new capital, staff or inventory.
As you are going to become an entrepreneur one day it is
essential to get knowledge about finance. Financial planning
allows entrepreneurs to estimate the quantity and the timing of
money needed to start their venture and keep it running.
The key questions for an Entrepreneur are:
Is it worthy to invest time and money in this business?
How much money is needed for the business, both
now and in the future?
Where will the cash come from – sales, investor?
What goals will you achieve raising money?
An entrepreneur plays the key role of entrepreneurial financial
planning. In contrast to established companies, to takes a
more strategic role and focuses on milestones with given cash
resources, changes in valuation depending on their fulfillment,
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risks of not meeting milestones and potential outcomes and
alternative strategies. Entrepreneurs understand that financing
needs to be in place in order to get their company started, but
successful entrepreneurs must also generate sources of capital
beyond early sales to keep going and growing
So now you have gain little knowledge about importance of
finance to become a successful entrepreneur. Following
institutes would help you in gaining knowledge about
Finance.
Leading educational institutions -
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The importance of Human Resources Management
The human resource management is one of the most
challenging tasks in the modern business world and an
excellent career choice for those who are skilled in working
with others. The increasing complexity of many jobs, the
aging of the workforce, and advances in technology require
continuous HR training for employees, managers and
entrepreneurs.
Human resource professionals must constantly upgrade their
HR knowledge and skills to meet the needs of a multicultural
workforce, and changing legislation and court rulings in the
areas of occupational health & safety, equal employment,
labor relations, employee benefits, and performance
management which are considered as to be the key result
areas of human resources management.
As the entrepreneurs you should have good interpersonal
skills and public relations skills. Through the knowledge you
gather through Human Resources management you will be
able to get to know the theories practiced in past as well as
new methods of managing the human resources, which can be
used for your organization. Human resources are considered
as to be the most important resource out of all the other
resources. By improving your knowledge on human resources
management you will be able to get the maximum from the
employees. Not only that you will be able to attract, retain,
and develop the best employees in your business.
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So now you have gain little knowledge about importance of
Human Resource Management to become a successful
entrepreneur. Following institutes would help you in gaining
knowledge about Human Resources management.
Leading educational institutions -
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Importance of Marketing for business and
entrepreneurs
Marketing is the area of management responsible for
researching and satisfying customer needs, through product
and service development, planning, pricing, advertising,
promotion and distribution marketing also focuses on
developing and managing ongoing relationships with
customers, competitors, partners, suppliers and other
shareholders. The teaching approach emphasizes the strong
functional linkages that exist in practice between marketing
and finance, accounting, operations, personnel, information
systems, business communications and strategic management
Why should I study marketing? Is it the right choice for
me?
These are important questions to ask as you decide what
major you'd like to pursue. This is probably the first question
you should ask yourself as you consider pursuing a degree in
marketing. A marketing degree will open many doors for you
in your career, as it is an integral and in-demand job for most
companies. The skills and techniques you'll learn while
studying marketing can help you later on, if you decide to
pursue a different type of degree like business management or
advertising. When you study marketing, you'll acquire
knowledge that can help you in any business-related career,
because you'll understand the importance of consumer
relations, communication, and the various stakeholders
involved.
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It’s an exciting and rewarding career, but you need to possess
a combination of several personality traits and characteristics
to make it in the marketing world. Although successful
marketing professionals come from different backgrounds
there are some personality qualities they tend to have in
common; you need to be creative and self-motivated, you
have to be able to work well in a team environment, very
detail oriented, a planner but also open to last minute changes,
you need to be a leader at times and a follower when
necessary, you need to know how to stay up-to-date on trends,
be optimistic, able to understand your consumer.
So now you have gain little knowledge about importance of
Marketing to become a successful entrepreneur. Following
institutes would help you in gaining knowledge about
marketing management.
Leading educational institutions -
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Importance of Information and Communication
Technology
In a century which is developing in leaps and bounds new
scientific advancements have come to the forefront. Among
these developments, Information Technology has secured a
valuable position and being IT savvy is an added qualification
in almost every field. Thus it has become an essential skill
which is valued in most employment opportunities nowadays.
The present Sri Lankan education system has taken measures
to address this requirement and has inserted IT has a subject
in the curriculum. However, when one leaves school, to stay
in touch with subject irrespective of the field one is in, it is
favorable to follow IT in a reputed institute. Especially for
future entrepreneurs, having a sound knowledge in the field of
IT will be an added benefit when exploring new
entrepreneurial ventures.
So now you have gain little knowledge about importance of
Human Resource Management to become a successful
entrepreneur. Following institutes would help you in gaining
knowledge about Human Resources management.
Leading educational institutions
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Importance of English and business communications for
entrepreneurs
An entrepreneur is expected to be a good communicator.
Here, not only good communication skills, but also the
medium of communication, or the language is evidently
important.
As most of us are aware, our native tongues are not always
sufficient when it comes to communicating with the world,
which is inevitable in surviving in the business sphere.
English, which is employed as a lingua franca in our part of
the world plays a major role in the field of business. In other
words, if you desire to be a successful entrepreneur, it would
be safe and much beneficial if you are thorough with English,
since competency in a second language is a basic qualification
of a businessman.
It is general knowledge for us that today's tight job market and
vibrant economy opens up opportunities only for the best and
English is pivotal among the qualifications a youth must
possess when embarking in to the competition. With 80 per
cent of international business communications written in
English and most of the world’s trade and financial
business transacted in the language,
Companies worldwide acknowledge the necessity of having
workforce able to communicate in English if they are to take
advantage of the opportunities in the global marketplace.
Good English knowledge will grant more confidence and an
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increase in the ability to interact with fellow business partners,
workers and customers as an entrepreneur.
These are the suggestions which can be recommended as the
best institutions which will support you to gain a higher
competency in English.
Leading educational institutions –
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