K. Ashok Kumar

Entrepreneurship Development

Lecturer, GIACR Rayagada

ENTREPRENEURIAL DECISIONS OR DECISIONS FOR ENTREPRENEURIAL START-UP

Entrepreneurial decisions occurs despite recession, inflation, high interest rate, lack of infrastructure, economic uncertainty etc. Each of these decisions is personal human processes which, although unique, have some common characteristics.

Decision-making is the core function of a manager that separates him from any other worker. There are three categories of decision-making.

Decision on the basis of facts, date and record Decision on the spot based on a gut call. Decision based on commitment and clarity.

Types of Decisions

Strategic Decisions – These decisions are the decisions that are concerned with whole environment in which the firm operates, the entire resources and the people who form the enterprise and the interface between the two. These decisions are long term in nature. These are normally concerned with the vision, mission and growth of the enterprise.

Operational Decisions – These are short term decisions that are needed when physical assets are being acquired. These are involved material and plant facilities, capability of the concern, recruitment of personnel etc.Transactional Decisions – These are the decisions related to the day to day transactions of an enterprise. It normally relates to those decisions which are revenue in nature.

Intelligent Decisions – The decisions which taken for the benefit of the enterprise. These decisions normally depend on facts and records, previous experiences.

Situational Decisions – The decisions which are taken depending upon the situations prevailed and existing inside and outside the enterprise. The decisions can also be taken anticipating the growth of the enterprise.

Things to be consider before making a Decisions

Inquiring about all possibilities Looking at immediate repercussions Examining the motivation of people suggesting something Priority of decisions Circumstances under which the decision is taken The opinion of others Taking the decisions at the right time Maintaining a balance between optimization in a particular

circumstance Looking at the bigger picture Facts and feelings of the people Advocating(supporting/encouraging) the decisions

The perception that starting a new company is desirable results from an individual’s culture, sub-culture, teachers, family and peers. A culture that values an individual who successfully creates a new business will spawn more company information than one does not.

Thus, entrepreneurial decisions has more bearing sociological, cultural, sub-cultural, psychological and political environment, while satisfaction and adequate rewards are the optimistic goals.

The chaste bond of love between a brother and a sister is one of the deepest and noblest of human emotions. 'Raksha Bandhan' or 'Rakhi' is a special occasion to celebrate this emotional bonding by tying a holy thread around the wrist.

This thread, which pulsates with sisterly love and sublime sentiments, is rightly called the ‘Rakhi’. It means 'a bond of protection', and Raksha Bandhan

The ritual is observed on the full moon day of the Hindu month of Shravan, on which sisters tie the sacred Rakhi string on their brothers' right wrists, and pray for their long life.

Relationships are the essence of any festivity and it holds true for any Indian festival.

Raksha Bandhan is a celebration of one such relation - that of a brother and a sister. This relationship is no where so celebrated as in India. Raksha Bandhan is a festival which celebrates the bond of affection between brothers and sisters. It is a day when siblings pray for each others' well being and wish for each others' happiness and goodwill.

Raksha Bandhan

ThanQ

SHOKA