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Saturday, November 12, 2011

Women Entrepreneurship With Special Reference to Small Scale Industries - Project Report

Business environment for women entrepreneurs in small scale industries
It is estimated that women entrepreneurs presently comprise about 10% of the total number of entrepreneurs in India, with the percentage growing every year. If the prevailing trends continue, it is likely that in another five years, women will comprise 20% of the entrepreneurial force. With corporates eager to associate and work with women-owned businesses, and a host of banks and non-governmental organisations keen to help them get going, there has rarely been a better time for women with zeal and creativity to start their own business.
Endowed with the famous female intuition that helps them make the right choices even in situations where experience and logic fail, women have innate flair for entrepreneurship. Although men and women may be motivated by different goals and expectations (In her book, When Money Isn't Enough, Connie Glaser reports that male entrepreneurs are motivated by the potential to earn lots of money, while women start their own companies because they seek greater control over their personal and professional lives.) women entrepreneurs are just as competent, if not better, than their male counterparts.

Women are more likely than men to admit when they do not know something and ask for help. They are natural networkers and relationship builders, forging powerful bonds and nurturing relationships with clients and employees alike. They are also more inclined to seek out mentors and develop supportive teams. In business this translates into establishing rapport with clients and providing great customer service. This perhaps is the reason why many women tend to launch businesses that are client based or service-oriented.

Sometimes, however, a lack of training and prior experience can render women entrepreneurs susceptible to a number of pitfalls. The following guidelines are aimed at helping women entrepreneurs cross some of the typical pitfalls that may crop up on their path to success:
Don't undervalue your abilities. Women typically tend to give away too much and charge too little. This is a common phenomenon in service-based industries where they may charge by the hour instead of charging a fee on the merit of knowledge or service rendered. Adopting value-based charges and charging per project (not on weekly or monthly basis), will help women entrepreneurs gain the actual worth of the services rendered.

Learn to juggle family with business. Unlike men, it is difficult for women to completely ignore family obligations when pursuing business, and they can quickly lose sight of their desire to have a balanced life in the face of a demanding new business. It is important to sustain a personal life and balance family obligations with professional ones, if they are to be successful and happy.
Women also need to be twice as persistent and assertive to make their presence felt in a predominantly male business world. Network, but in a way you feel comfortable with. Establish limits and do make sure that you are well within your comfort zone when networking with others.

Do not forget you are running a business. Piling on work/life benefits will not do anyone any good if doing so cuts too deeply into the company's bottom line. You have to learn to be attentive to people's needs and still run a profitable business. Women typically fight shy of self-endorsement. Do not be afraid to promote yourself.
Remember, if you want a thriving business you must market yourself and take credit for your achievements. If your marketing is shoddy no one will know what you have to offer Though sidelined as the `weaker sex' for long, with encouragement, support and a conducive environment, woman entrepreneurs are fast becoming a force to reckon with in the business world.

An entrepreneur perceives a need and then brings together the manpower, materials and capital required to meet that need. Entrepreneurs search for change, respond to it and exploit it as an opportunity. Entrepreneurship involves combining factors of production to initiate changes and it is a discontinuous process. The high rate of economic growth strengthens the nation, provides a high standard of living to the people to protect the interest of the poor.

Women constitute almost half of the total population in the world. But their representation in employment is comparatively low According the I.L.O report in 1980, “Women are 50 per cent of the world’s population, do the two-thirds of the world’s work hours, receive ten percent of the worlds income and own less than one percent of worlds property”

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Friday, November 11, 2011

Effectiveness of Performance Appraisal System at Eureka Forbes Limited - Project Report

Appraising the performance of individuals, groups and organizations is a common practice of all societies. While in some instances the appraisal processes are structured and formally sanctioned, in other instances they are an informal and integral part of daily activities. Thus, teachers evaluate the performance of students, bankers evaluate the performance of creditors, parents evaluate the behavior of the children, and all of us, consciously or unconsciously evaluate our own actions from time to time.

“Performance appraisal” has been identified as one of the most complex of man-management activities. It is often a difficult and emotion laden process. Performance appraisal has become part of organizational life. Every organization has some kind of evaluating the performance of its personnel.

“Performance appraisal” or “Merit rating” is one of the oldest and universal practices of management. This approach resulted in an appraisal system in which the employee’s merits like initiative, dependability, personality etc were compared with others and ranked or rated.

During and after World War I, systematic performance appraisal was quite prominent. Credit goes to Walter Dill Scot for systematic performance appraisal technique of “man-to-man rating system” (merit rating). It was used for evaluating military officers. Industrial concerns also used this system during 1920s and 1940s for evaluating hourly paid workers. However, with the increase in training and management development programs from 1950s, management started adopting performance appraisal for evaluating technical, skilled, professional and managerial personnel as a part of training and executive development programmes. With this evolutionary process, the term merit rating had been changed into employee appraisal or performance appraisal.

Performance Appraisal is a method of evaluating the behavior of employees in the work spot, normally including both the quantitative and qualitative aspects of job performance. Performance here refers to the degree of accomplishment of the tasks the make up an individual’s job. It indicates how well an individual is fulfilling the job demands. Often the term is confused with effort, which means performance is always measured in terms of results.

“Performance appraisal” is a systematic evaluation of present and potential capabilities of personnel and employees by their superiors, superior’s superior or a professional from outside. “It is a process of estimating or judging the value, excellent qualities or status of a person or thing.”

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