Path to Entrepreneurship: EDP, IPR, Value Chain and Strategy (GEW day IV)
Ministry of Labour and Human Recources (MoLHR) being one of the most important government stake holder in promoting entrepreneurship in Bhutan, a representative from the ministry spoke and presented about the ‘Entrepreneurship Development Programme (EDP),’ the ministry have under its Entrepreneurship Promotion Division in the morning session yesterday.
He presented an overlay of what the ministry is doing for entrepreneurship promotion, the system, procedures and requirements to become an entrepreneur under the ministry’s programme.
Following a discussion session, the participants suggested that the ministry look into possibilities to recognize the certificate awarded by Loden entrepreneurship programme or may be look into possible collaborations in the entrepreneurship programmes.
The representative said that the ministry is planning a stakeholders meeting soon where all such possibilities can be discussed with the entire stakeholder.
The session is followed by a presentation on ‘Strategic Management,’ by Mrs. Jaswinder Kur, reminding the young entrepreneurs of the importance of strategic planning and management.
She highlighted in her presentation the key dimensions influencing strategic planning and reasons for lack of strategic planning. “Strategic planning allows market analysis and forecasting which is beneficial and valuable,” she said.
As it is must for the entrepreneurs to understand Intellectual Property Rights (IPR), Mrs. Anjali Gulati a consultant and advisor to Intellectual Property Division (IPD) said that there is a need to improve awareness on IPR among Bhutanese. “There is this need for Bhutanese to understand IPR, so that you know how to protect the intellectual rights and value add to it,” she said introducing the intellectual property rights as an idea or a technology of one’s own creation.
Value in a product is key to a business product for which an entrepreneur has to understand what a value chain is? Mr. Choki Wangchuk a freelance consultant and a value chain expert talked through his presentation on ‘Value Chain Development,’ explaining the need of efficiency in primary and secondary activities for value addition.
What is Value Chain? “It is the activities in a process where at some point a value is added in a product,” he explained saying there are many similar definitions.