Seminar On Entrepreneurship Development

There are so many institutes and organizations which are involved in entrepreneurship development activities and there are people who join these programs as a stepping stone to become entrepreneur. It is a known fact that so many management institutes are coming up to cater to the growing need of industries by supplying traditional managers/corporate managers. The scope of this study is to find out the perception of management students about the entrepreneurship and compare it with those people who have become entrepreneur. The researcher feels that this study will reveal the facts which are important to develop entrepreneurship as a career option among management students. A manager is one who manages all the resources to match with the organizational needs. In the managerial role resources are allocated to solve problems and improve the administrative efficiency. The entrepreneurship is very a old concept according to which any one who runs business is called an entrepreneur. The more precise meaning of entrepreneur is; one who perceives a need and then brings together manpower, material and capital required to meet that need. Entrepreneur is one who understands the market dynamics and searches for change respond to it and exploit it as an opportunity.

The word „entrepreneur‟ is derived from the French verb „enterprendre‟. It means “to undertake”.

The Frenchmen who organized and led military expeditions were referred to as “entrepreneurs”. Around 1700 A.D. the term was used for architects and contractor of public works.

 In many countries, the term entrepreneur is often associated with a person who starts his own new business. Business encompasses manufacturing, transport, trade and all other self employed vocation in the service sector.Entrepreneurship has been considered as the propensity of mind to take calculated risk with confidence to achieve predetermined business objectives. There are many views and opinions on the concept of entrepreneurship forwarded by some of the world famous management gurus and economists as mentioned below which will help in understanding this concept

Oxford Dictionary

“A person who sets up a business or businesses, taking on financial risks in the hope of profit”2 International Encyclopedia

“An individual who bears the risk of operating a business in the face of uncertainty about the future conditions"

Schumpeter's Definition 

The entrepreneur in an advanced economy is an individual who introduce something new in the economy- a method of production not yet tested by experience in the branch of manufacturing, a product with which consumers are not yet familiar, a new

source of raw material or of new markets and the like”

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Money and the International Monetary System

Seminar On International Monetary System

Many distinguished economists have pondered the role of money and prices and the question of whether it is more appropriate to organize our monetary affairs along national lines or to adhere to an international monetary standard. In arriving at an answer, they have addressed important aspects of freedom, liberty and

sovereignty.That the debate is still not settled definitively attests to the complexity of the topic. As a matter

of fact, the current debate about the desirability of a common European monetary standard and about the formation of a European central bank has revived many of the old arguments.

There is a surprisingly close association among the global level of international reserves (or the global

monetary base), the world money supply and the world price level. That finding, however, does not answer the question of whether financial stability is best achieved by having individual nations manage their own monetary affairs in an independent, decentralized manner; by relying on a global monetary constraint to impose monetary discipline; or by seeking a workable compromise that we can all live with.

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Seminar On The World Trade Organization (WTO)

The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments. The goal is to help producers of goods and services, exporters, and importers conduct their business.

There are a number of ways of Looking at the WTO. It’s an organization for liberalizing trade. It’s a forum for governments to negotiate trade agreements. It’s a place for them to settle trade disputes. It operates a system of trade rules. (But it’s not Superman, just in case anyone thought it could solve- or causeall the world’s problems!)

The world is complex. This booklet is brief, but it tries to reflect the complex and dynamic nature of trade. It highlights some of the benefits of the WTO’s ““trading system, but it doesn’t claim that everything is perfect—otherwise there would be no need for further negotiations and for the system to evolve and reform continually.Nor does it claim that everyone agrees with everything in the WTO. That’s one of the most important reasons for having the system: it’s a forum for countries to thrash out their differences on trade issues.That said, there are many over-riding reasons why we’re better off with the

system than without it.

The 10 benefits of The World Trade Organization

1. The system helps promote peace

2. Disputes are handled constructively

3. Rules make life easier for all

4. Freer trade cuts the costs of living

5. It provides more choice of products and qualities

6. Trade raises incomes

7. Trade stimulates economic growth

8. The basic principles make life more efficient

9. Governments are shielded from lobbying

10. The system encourages good government

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Seminar On Break Even Analysis

Break Even Analysis In Economics

An enterprise, whether or not a profit maximizer, often finds it useful to know what price (or output level) must be for total revenue just equal total cost. This can be done with a breakeven analysis. Strictly speaking, this analysis is to determine the minimum level of output that allows the firm to break even, but it could be used for some other tasks.In this Appendix, we introduce:

- The algebra of break-even analysis

- Break-even diagram

- Operating leverage

Break-even analysis is a supply-side analysis; that is, it only analyzes the costs of the sales. It does not analyze how demand may be affected at different price levels.

For example, if it costs $50 to produce a widget, and there are fixed costs of $1,000, the break-even point for selling the widgets would be:

If selling for $100: 20 Widgets (Calculated as 1000/(100-50)=20)

If selling for $200: 7 Widgets (Calculated as 1000/(200-50)=6.7)

In this example, if someone sells the product for a higher price, the break-even point will come faster. What the analysis does not show is that it may be easier to sell 20 widgets at $100 each than 7 widgets at $200 each. A demand-side analysis would give the seller that information.

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