Use of e-learning in imparting basic financial knowledge for sustainable growth of small Business

Topics: Learning, Instructional design, Educational technology Pages: 7 (1881 words) Published: March 23, 2014

Use of e-learning in imparting basic financial knowledge for sustainable growth of small Business By
Sattagouda M Patil
Department of P G Studies, VTU, Belgaum,

Date: 05/11/2013
The Convenor,
International Management Convention, 2014
Asian School odf Business Management,
Bhubaneswar, 751024
Odisha, India.

Subject: Copyright Warranty and Authorization Form – reg. DECLARATION
I hereby declare that the research paper titled “Use of e-learning in imparting basic financial knowledge for sustainable growth of small Business” submitted by me is based on actual and original work carried out be me. Any reference to work done by any other person or institution or any material obtained from other sources have been duly cited and referenced. I further certify that the research paper has not been published or submitted for publication anywhere else nor it will be send for publication in the future.

Author Name: Sattagouda M Patil
Designation: Assistant Professor
Institute / Company: Department of P G Studies, VTU, Belgaum Official Address:
Mobile Number: +919886230977, +919741978455
Email id:,

Signature of the Corresponding Author

Use of e-learning in imparting basic financial knowledge for sustainable growth of small Business Abstract
The need of the hour in today’s competitive world is generation of entrepreneurs who can contribute to the country’s growth and prosperity but only generation of entrepreneurs will not instigate growth of the country, the entrepreneurs have to regularly contribute to the country’s growth which will only happen if they can sustain fierce competition and generate profits. The idea is to envision entrepreneurs to be provided a platform which would encompass basic financial knowledge in-order to build businesses that would not only grow faster but are capable to weather down competition, sudden changes in market place, new taxation policy by the government, financial benefits for certain business etc. Many entrepreneurs agreed that basic knowledge about finance could help solve most of the problems that are being faced by them in today’s dynamically changing business environment. E-learning has been the most preferred medium of transferring knowledge because of its effectiveness and cost advantage. The paper also looks into using M-learning which has gained more popularity in recent times because of the growing tele-data using population, The process of designing a curriculum can be debated further as there are several models and techniques available for designing an e-learning courseware. Keywords: E-learning, entrepreneurs, business, course, design

Use of e-learning in imparting basic financial knowledge for sustainable growth of small Business INTRODUCTION
Many individuals aspire to become entrepreneurs for reasons such as being their own boss, implementing their expertise in a particular area to generate profits, non-availability of product or service in the market place. Etc. There are very few entrepreneurs who have a deep and burning desire to tackle financial strategy. In fact, majority of entrepreneurs abstain from “working the numbers”.. Hence building a good financial foundation does not hold much importance among majority of entrepreneurs. It has been observed that smart people in businesses with smart ideas fail in the market place for the need of solid and smart financial strategy and the reason attributed to this has been that entrepreneurs lack the expertise and they tend to ignore or rather avoid taking any suggestions from experts as they assume it to be not so useful. There are various perspectives for a business to generate profits. A business can increase its profits by cutting costs, increasing sales, increasing inventory turnover etc. After having elaborative discussions with the local business...

References: Learning design and e-learning by Dr Matthew Fox, Director of Design, Epic Group plc downloaded from
E-learning methodologies A guide for designing and developing e-learning courses by Food and Agriculture Organization of the United Nations (FAO) downloaded from
Horton, W., & Horton, K. (2003). ELearning tools and technologies. Wiley Publishing
Effective Practice with e- Learning by Sarah Knight Programme Manager: e-Learning and Pedagogy JISC Development Group University of Bristol downloaded from
Developing Training Material With ADDIE by Griffin Productions downloaded from
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