I am posting a series of Posts on Enterprise Management. This is the First Part

STEPS TO START AN ENTERPRISE – Part I

a) Decision to become an entrepreneur- Most important.

b) Select an Activity –Service or Product manufacture-

A preliminary market study of products or services

Where do you want to promote the enterprise?

What resources are available near the location of the enterprise?

What kind of market or consumer pattern exists near the site of enterprise?

What kind of contacts you have to exploit to your advantage for marketing of the product?

What infrastructure is available at the location of your enterprise?

How much capital is available?

c) Major inputs required for setting up an enterprise: Availability of-

Land, building or shed

Machinery and equipments

Raw Materials

Technology

Power and Water

Skilled manpower

Capital

d) Project Report Preparation containing detailed information about:

Land & building required, Manufacturing Capacity per annum

Manufacturing Process, Technology,

Machinery & equipment along with their prices and specifications,

Requirements of raw materials, Power & Water required,

Manpower needs, Marketing, Cost of the project and production,

Financial analysis & economic viability of the project.

..to be continued..