Enterpreneurial Success In Small And Medium Enterprises

The role of an entrepreneur is of crucial importance at all stages of economic development. A successful entrepreneur is one who makes realistic plans, and takes moderate and calculated risk. He will definitely have a clear perception and attitude towards the past, present, and the future. He faces hurdles in the entrepreneurial career bravely with a firm determination. This empirical study covers the findings of fifty micro and small enterprises, located in the industrial estates and industrial areas around Hyderabad, apart from a few enterprises outside the estates and areas. As perceived by the entrepreneurs, the enterprises grouped in the descending order of success are 24% highly successful, 50% successful, and the remaining 26% fairly successful in the management of their respective enterprises. The study has evolved a profile of successful entrepreneurs in the micro, small and medium enterprises sector based on the results obtained in the environment of a metropolitan city. The study also presents the macro industrial environment of small and medium enterprises sector, and deals with recent developments extensively. The profile of entrepreneurs evolved covers organisational pattern, demographic and socio-economic aspects, enterprise promotion process, management practices, and perceptions and attitudes of entrepreneurs regarding success. Entrepreneurs considered proper management as an important factor, along with adequacy of capital to ensure the success of an enterprise. Professional management, finance, and quality product were ranked high as factors contributing to the high level of success of an enterprise. Perseverance and hard work were rated first by entrepreneurs as important prerequisites for success. The book will be a useful ready reckoner for all interested or involved in the small and medium enterprises sector, including policy makers, administrators, extension personnel, entrepreneurs, academicians, and researchers.