On the occasion of India’s 60th Republic day, EABS takes an initiative to adopt 15 Micro-entrepreneurs for a year and enhance business opportunities for them through analytical acumen of the students.
Each student has selected a small or a micro business which they will be observing very closely in order to get an insight into the functioning of the business. The idea is to learn from the ground level and then relate it to principles of management.
The micro set-ups chosen by the students are also quite diverse in nature. Few examples are sweet shop, wada pav vendor, florist, small grocery store, sandwich vendor etc. Every student will partner with his micro-business CEO for the whole day. Starting from knowing about the suppliers, the procurement process, target customer and the marketing strategies. In the due course, will also get to know how the entrepreneur is able to plan for the sales, the timings, the location and the promotion of his product. Besides, will get a know-how of managing resources and utilizing them efficiently. Not only will this help the students in understanding every aspect of minimizing cost of production, but will also get a first hand experience of interacting with customers and getting their feedback.
Apart from the above, the students will get a chance to peek into the entrepreneur’s financial records which eventually will aid in understanding his management of working capital, sources of finance and his daily record keeping of his sales. Human resource is also a very important part of these small setups.
In a nut shell, the objective of the entire program is to have a complete learning curve for students varying from multinational CEOs to a CEO of vada pav stall. The students can get a practical knowledge of how the business is done at core and can help them grow their business as a CSR activity. Since all these micro-entrepreneurs largely operate in unorganized sectors, they have huge potential of growth and improvement. However these businesses have been neglected and overlooked by upcoming entrepreneurs. EABS students have an opportunity to provide inputs in order to increase his business value.
www.eabs.ac.in
Each student has selected a small or a micro business which they will be observing very closely in order to get an insight into the functioning of the business. The idea is to learn from the ground level and then relate it to principles of management.
The micro set-ups chosen by the students are also quite diverse in nature. Few examples are sweet shop, wada pav vendor, florist, small grocery store, sandwich vendor etc. Every student will partner with his micro-business CEO for the whole day. Starting from knowing about the suppliers, the procurement process, target customer and the marketing strategies. In the due course, will also get to know how the entrepreneur is able to plan for the sales, the timings, the location and the promotion of his product. Besides, will get a know-how of managing resources and utilizing them efficiently. Not only will this help the students in understanding every aspect of minimizing cost of production, but will also get a first hand experience of interacting with customers and getting their feedback.
Apart from the above, the students will get a chance to peek into the entrepreneur’s financial records which eventually will aid in understanding his management of working capital, sources of finance and his daily record keeping of his sales. Human resource is also a very important part of these small setups.
In a nut shell, the objective of the entire program is to have a complete learning curve for students varying from multinational CEOs to a CEO of vada pav stall. The students can get a practical knowledge of how the business is done at core and can help them grow their business as a CSR activity. Since all these micro-entrepreneurs largely operate in unorganized sectors, they have huge potential of growth and improvement. However these businesses have been neglected and overlooked by upcoming entrepreneurs. EABS students have an opportunity to provide inputs in order to increase his business value.
www.eabs.ac.in