Entry Level Qualification 

12

Career Fields 

Business & Management

For Specially Abled 

,

Career Entrance Exam 

CAT, GMAT

About Career 

1. An Entrepreneur sets up a business with a plan for selling products or services, sometimes a unique product or service which solves a specific problem in the society or address a specific need or needs. She invests her own money and convince others to invest in her business. He organises the resources required to produce or source the products and services that he intends to sell. Resources such as people, technology, workspace, IT infrastructure, knowledge or insights (for producing or sourcing and selling the products and servies), etc. He leads the business and people with a vision and goals. He manages day-to-day affairs of the business to make sure that the business earns money and makes profits or surplus. Overall, he takes the business risks and the financial risks, calculated risks, with a future prospect of earning profits and building wealth.

2. To be an Entrepreneur, you should start by knowing that creating a line of your own business is risky and most often a stressful journey but the returns can be huge when compared to doing a plain and simple job! Much like high risk, high reward scenario. This means that you can expect to get very high profits once your startup turns into a full-fledged business, but not usually in the initial years.

Key Roles and Responsibilities

As an Entrepreneur, you will be engaged with one or more of the following roles and responsibilities:

1. Identifying the key markets to sell products or services based on customer needs, location, demography, economic coditions, social conditions, etc.

2. Developing vision, goals, business plans, products and services.

3. Formulating business strategies and plans for implementing the strategies.

4. Determining how to communicate various company related information to stakeholders (the interested parties like clients, investors, competitors, public, etc.).

5. Looking for sponsors, investors, suppliers or interested parties and sharing the business plans with them; finding individuals and partners who can contribute.

6. Communicating with competitors, customers, professional organizations, suppliers, or others to stay updated with industry or business trends and improving business strategies accordingly.

7. Managing and leading various business functions such as product development or manufacturing, marketing and sales, operations and logistics, people management, financial management, etc.

8. Regularly traveling for business meetings, transactions, etc.

9. Identifying / comparing business strategy results with industry or geographic trends.

10. Planning workforce expansion (hiring more employees), capital mobilization (how and where to spend) and recognizing how various investment schemes, loans or proposals will suit your business.

11. Managing day-to-day business activities and regularly communicating with your employees.

12. Ensuring compliance with all accounting or trade laws prevalent in the country and respective states or cross-border laws in case of export / import businesses.

Career Entry Pathway 

Class 10 all subjects as per scheme of studies – Class 11-12 with any subject as per scheme of studies – Diploma / Certificate / B. Voc courses in ‘Entrepreneurship ‘or any other disciplines.

After completing Class 11-12 with any subject as per scheme of studies, you can go for a Diploma / Certificate or B. Voc degree (Bachelor of Vocation) course in ‘Entrepreneurship’, ‘Entrepreneurship Development’, ‘Entrepreneurship Administration and Business Laws’, ‘Entrepreneurship Development’, ‘Entrepreneurship & Business Management’, ‘Entrepreneurship Administration’, ‘Entrepreneurship, Innovation and Design Thinking’ or any other disciplines. If your business is a startup, you can register it with the Department of Industrial Policy and Promotion (DIPP) of India to enjoy income tax, funding, patent-related or other benefits. You will be exempt from paying any income tax for a period of up to 3 years. You must also remember to register within 5 years of business incorporation (you need to get a business incorporation certificate from the government for this). The procedure can be followed as at https://www.startupindia.gov.in/.

After completing Class 11-12 with any subject as per scheme of studies, you need to finish your Bachelor’s degree in any discipline. If your business is a startup, you can register it with the Department of Industrial Policy and Promotion (DIPP) of India to enjoy income tax, funding, patent-related or other benefits. You will be exempt from paying any income tax for a period of up to 3 years. You must also remember to register within 5 years of business incorporation (you need to get a business incorporation certificate from the government for this). The procedure can be followed as at https://www.startupindia.gov.in/.

After completing Class 11-12 with any subject as per scheme of studies, you must complete yourBachelor degree course in any discipline or BBA (Bachelors on Business Administration) in ‘Entrepreneurial Studies’ or similar fields. Then you can go for a Post Graduate Diploma in ‘Entrepreneurship’, ‘Entrepreneurship Development’, ‘Entrepreneurial Studies’, ‘Business Studies’, ‘Business Entrepreneurship’, ‘Management – Development Studies’ or related courses. If your business is a startup, you can register it with the Department of Industrial Policy and Promotion (DIPP) of India to enjoy income tax, funding, patent-related or other benefits. You will be exempt from paying any income tax for a period of up to 3 years. You must also remember to register within 5 years of business incorporation (you need to get a business incorporation certificate from the government for this). The procedure can be followed as at https://www.startupindia.gov.in/.

After completing Class 11-12 with any subject as per scheme of studies, then BBA (Bachelors on Business Administration) in ‘Entrepreneurial Studies’ or similar fields, you can go for MBA (Master of Business Administration) in ‘Entrepreneurship’, ‘Decision Sciences’, ‘Social Entrepreneurship’, ‘Entrepreneurship & Family Business’, ‘Hospitality Entrepreneurship’ or similar courses. If your business is a startup, you can register it with the Department of Industrial Policy and Promotion (DIPP) of India to enjoy income tax, funding, patent-related or other benefits. You will be exempt from paying any income tax for a period of up to 3 years. You must also remember to register within 5 years of business incorporation (you need to get a business incorporation certificate from the government for this). The procedure can be followed as at https://www.startupindia.gov.in/.

After completing Class 11-12 with any subject as per scheme of studies, you need to finish your graduation and Master degree in any discipline. Then you can go for a Fellowship Programme in Management (FPM) after successfully passing any universally recognized tests like GMAT (Graduate Management Admission Test), GRE (Graduate Record Examination General Test), CAT (Common Admission Test). FPM is usually for 4 years offered by various top notch institutes across the country. If your business is a startup, you can register it with the Department of Industrial Policy and Promotion (DIPP) of India to enjoy income tax, funding, patent-related or other benefits. You will be exempt from paying any income tax for a period of up to 3 years. You must also remember to register within 5 years of business incorporation (you need to get a business incorporation certificate from the government for this). The procedure can be followed as at https://www.startupindia.gov.in/.

Required Qualification & Competencies 

1. Structured training and formal certification are not pre-requisites for becoming an Entrepreneur. However, it is advisable to complete at least graduation before becoming an Entrepreneur.

2. You can also work for a few years in any company before becoming an Entrepreneur. Work experience gives you a number of industry contacts, financial resources as well as exposure to a commercial environment.

Various private / public institutions offer different courses on:

1. Entrepreneurship and Innovation Studies

2. Entrepreneurship

3. Innovation & Entrepreneurship

4. Social Entrepreneurship

5. Creative Entrepreneurship & Creative Industries

Competencies Required

1. You should have interests for Enterprising Occupations. Enterprising occupations involve taking initiatives, initiating actions, and planning to achieve goals, often business goals. These involve gathering resources and leading people to get things done. These require decision making, risk taking, and action orientation.

2. You should have interests for Social Occupations. Social occupations involve helping or assisting others; these involve working with and communicating with people to provide various services; these may involve educating and advising others.

3. You should have interests for Realistic Occupations. Realistic occupations involve more practical and hands-on activities than paperwork or office work. Realistic occupations often involve physical activities for getting things done using various tools and equipment. 

4. You should have knowledge of Sales and Promotion - the various principles, theories, methods, systems, and processes to communicate and promote the benefits of various products or services of an organisation to a targeted group of customers, influencing their buying decisions and convincing them to buy the products or services.

5. You should have knowledge of Communications and Media - how different media such as print, television, radio, and social media works; how to produce content such as news, articles, audio-visual programs, etc. for different media. This includes various ways to inform and entertain people via print, audio, audio-visual and online media.

6. You should have knowledge of Customer Service - how to provide customer services. This includes understanding customer needs, helping customers to use products and services, answering customer queries, handling customer complaints and grievances, and evaluating customer satisfaction.

7. You should have knowledge of Personal Care Service - Knowledge of how to provide various assistance and services to others. This includes looking after the needs of individuals, understanding what they need and provide all assistance at home or elsewhere.

8. You should have knowledge of Computers - computer software and applications, to be used for regular data entry / retrieval and updating virtual databases.

9. You should have Active Listening Skills - Giving full attention to what other people are saying, understanding the points being made by others, asking questions, etc.

10. You should have Instruction Skills - training others how to do something.

11. You should have Service Orientation Skills - to help and assist people.

12. You should have Persuasion Skills - persuading others to change their minds or behavior.

13. You should have Judgment and Decision Making Skills - considering the pros and cons of various decision alternatives; considering costs and benefits; taking appropriate and suitable decisions.

14. You should have Supervising Skills - Supervising and monitoring the performance of yourself, others, businesses, and different projects.

15. You should have Directing Skills - directing others' actions to get things done.

16. You should have Information Ordering Ability - The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).

17. You should have Problem Solving Ability - analysis and understanding of problems, evaluating various options to solve the problems and using the best option to solve the problems.

18. You should have Deductive Reasoning Ability - apply general rules and common logic to specific problems to produce answers that are logical and make sense. For example, understanding the reasons behind an event or a situation using general rules and common logic.

19. You always prefer to experience new things and have new experiences or you mostly do.

20. You can always act independently or could do so in most situations.

21. You are always or mostly careful about your actions and behavior.

22. You are always or mostly organized in your day-to-day life and activities.

23. You are always friendly and outgoing; you love to be in the company of people always or most of the times.

24. You are always or mostly caring, supportive, sympathetic and kind to others.

Career - Job Opportunities & Profiles 

The various industries that you may choose to serve to include:

1. Agriculture / Agro-based or Allied Industries

2. Telecommunications

3. Foods / Beverage / FMCG (Fast Moving Consumer Goods)

4. Auto / Auto-ancillary

5. Education / Teaching

6. Travel and related

7. Medical / Healthcare

8. Oil and Gas / Power / Infrastructure / Energy

9. Industrial Products

10. BFSI (Banking, Financial Service, Insurance)

11. Accounts and Finance

12. Construction / Engineering

The functional areas that you may cover include:

1. Sales / Retail

2. Production / Maintenance / Quality

3. Purchase / Logistics / Supply Chain

4. Accounts / Finance / Tax / Insurance

5. Human Resource / Recruitment

6. Customer Service / Operations

7. Marketing / Advertising

Career Growth

If you can flourish as a self-employed individual, your business may grow to serve a broad range of clientele or a multitude of customers and you can certainly become a successful entrepreneur.

Salary Offered  

1. One can earn a lot of money over the years. Entrepreneurship is about starting a business and building wealth. An entrepreneur builds wealth through direct revenues, investments, investing in other businesses, buying and selling equity, etc. Entrepreneurs can become multi-millionaires in this way.

2. However, the earning potential of Entrepreneurs depends on the business and industry situations as well as personal capacities like persistence, passion, preparation and earning appetite of an individual.

3. At the beginning: Your net earnings (profits) may range from negative to a few thousands a month on an average.

4. After 1-3 years: If you are able to establish your business and your business has started earning money, you may take a salary depending upon the business situations. This could be anything between Rs. 5,000 - 2, 00,000 a month or even more.

Monthly Earnings In Indian Rupee

1. Entry level: 0 - 2 years of work experience

2. Junior Level: From 1 to 12 years of work experience

3. Mid-Level: From 5 to 20+ years of work experience

4. Senior Level: From 10 to 25+ years of work experience (there could be exceptions in some high-end technical, financial, engineering, creative, management, sports, and other careers; also in the near future, people will reach these levels much faster in many careers and in some careers, these levels will have no meaning as those careers will be completely tech skill driven such as even now, there is almost no level in a Cyber Security Expert’s job)

Famous Personalities 

Not Available

Work Activities 

1. Addressing grievances and resolving conflicts: Handling complaints and grievance to resolve; resolving conflicts among co-workers or others at workplace or outside in relation to your work.

2. Analysing and interpreting data and information: Analysis of data and information to find facts, trends, reasons behind situations, etc.; interpretation of data to aid in decision making.

3. Assessing and evaluating quality: Assessing and evaluating quality of materials, systems, processes, products, services, etc.

4. Coaching and developing: Identifying training and professional development needs of others; coaching and training them to develop skills to perform tasks and improve performance.

5. Communicating with co-workers and others: Communicating with people in writing, verbally or otherwise inside your workplace and various other people who have professional relationships with your place of work including vendors, government officials, etc. or with people at large.

6. Communicating with customers: Communicating with potential and existing customers of your organisation in writing, verbally or otherwise.

7. Creative thinking: Developing new ideas, concepts, innovative solutions to problems, newer ways of getting things done, designing products and services, creating work of art and craft, etc.

8. Decision making and problem solving: Analysis of data and information; evaluation of alternative decisions and results of decisions; taking the right decisions and solving problems.

9. Developing and maintaining inter-personal relationships: Developing professional relationships with co-workers and others outside organisations and maintaining good relationships.

10. Estimating quantity, cost, time and resources: Estimating sizes, volumes, distance, and quantity; estimating and determining time, costs, and resources; estimating materials required to perform a task.

11. Getting Information and learning: Observing, hearing, reading, using computers, or otherwise obtaining information and learning from it.

12. Handling administrative activities: Handling various administrative tasks and managing day-to-day operations.

13. Inspecting situations, events, and people: Inspecting situations, events and people to understand the reasons and causes for the situation or events to happen; inspecting people to understand reasons behind their behaviour and actions.

14. Leading: Inspiring and motivating co-workers to work to achieve specific goals; enabling and facilitating others to perform tasks effectively; addressing issues and solving problems in order to help people perform well.

15. Managing and supervising: Manging and supervising work of others; setting goals; giving instructions; monitoring work performance, etc.

16. Monitoring use of resources: Monitoring and controlling use of resources like land and materials as well as spending of money.

17. Negotiating: Negotiating terms, conditions, costs, prices and about other issues.

18. Organising, planning and prioritising tasks: Planning and organising tasks in order to achieve work goals; prioritising tasks to achieve goals and making the best use of the time available.

19. Recruiting, enlisting and placing people resources: Sourcing, recruiting, selecting, enlisting and placing people in different positions and tasks in an organisation or for getting work done.

20. Scheduling tasks: Scheduling project timelines, tasks and activities.

21. Strategic planning: Developing visions and goals, developing strategies and action plans for achieving visions and goals.

22. Updating and using relevant knowledge: Keeping updated with the latest knowledge relevant to your fields of work and use of the relevant knowledge in getting things done.

23. Using computers for work: Using computers for day-to-day office work; using computer software for various applications in day-to-day professional work; entering data and process information; for writing.

24. Working in a team: Working in a team of people; developing team; maintaining professional relationships among team members.