Entrepreneurship and New Venture Creatio

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Entrepreneurship and New Venture Creation : 

Entrepreneurship and New Venture Creation Jan-March 2008

WELCOME : 

Entrepreneurship PGP 2008 2 WELCOME PGP 2 – TERM VIII – PG571 40 HRM Students : 2006-08 : 10 Groups 2 Credits – 16 Sessions – Jan-Feb-Mar’08 Text Book : Entrepreneurship : Theory, Process and Practice : Donald F Kuratko and Richard M Hodgetts : 7th Edn - 2007 Evaluation : Test + Quiz + Assignment + Presentations + Business Plan + TE Exam

Why this Course? : 

Entrepreneurship PGP 2008 3 Why this Course? Four Factors of Production – Economics: - Land, Labour, Capital and Entrepreneur Today’s business, industry and economy Increasing National Income, Creating jobs Entrepreneurial urge to be fulfilled Creation, Innovation, Development and Achievement Motive Contribution to Society, Growth, Prosperity

Topics to be covered : 

Entrepreneurship PGP 2008 4 Topics to be covered The Challenges of Entrepreneurship Profiles of Successful Indian Entrepreneurs The Entrepreneurial Perspectives Developing an Entrepreneurial Plan Initiating Entrepreneurial Ventures… Growth and Development Contemporary Challenges… Putting the Plan to Work

Who is an Entrepreneur? : 

Entrepreneurship PGP 2008 5 Who is an Entrepreneur? An innovator or developer who recognises and seizes opportunities; converts these opportunities into workable / marketable ideas; adds value through time, effort, money, or skills; assumes the risks of the competitive marketplace to implement these ideas; and realises the rewards from these efforts.

Evolution : 

Entrepreneurship PGP 2008 6 Evolution The word Entrepreneur is derived from French word entreprendre, meaning “to undertake”. He is one who undertakes to organize, manage, and assume risks of business. Today, he is an innovator or developer who recognises and seizes opportunities; converts those opportunities into workable/ marketable ideas; adds value through time, effort, money, or skills; assumes the risks of the competitive marketplace to implement these ideas; and realises the rewards from these efforts

What is Entrepreneurship? : 

Entrepreneurship PGP 2008 7 What is Entrepreneurship? The process of organizing, managing and assuming the risks of a business Most powerful economic force known to humankind It is the new revolution, and it’s about continual innovation and creativity It is the future of our world economy It is to – dream, create, explore, innovate, invent, pioneer, and imagine………

Entrepreneurship…2 : 

Entrepreneurship PGP 2008 8 Entrepreneurship…2 ……….consists in doing things that are not generally done in the ordinary course of business routine; it is essentially a phenomenon that comes under the wider aspect of leadership …….at least in all non-authoritarian societies, constitutes a bridge between society as a whole, especially the non-economic aspects of that society, and the profit oriented institutions established to take advantage of its economic endowments and to satisfy, as best they can, its economic desires

Entrepreneurship…3 : 

Entrepreneurship PGP 2008 9 Entrepreneurship…3 ……….is the dynamic process of creating incremental wealth. This wealth is created by individuals who assume the major risks in terms of equity, time, and / or career commitment of providing value for some product or service. The product or service itself may or may not be new or unique but value but somehow be infused by the entrepreneur by securing and allocating the necessary skills and resources

Entrepreneurship…4 : 

Entrepreneurship PGP 2008 10 Entrepreneurship…4 Entrepreneurship is a dynamic process of vision, change and creation. It requires an application of energy and passion towards the creation and implementation of new ideas and creative solutions. Essential ingredients include the willingness to take calculated risks – in terms of time, equity, or career; the ability to formulate an effective venture team; the creative skill to marshal needed resources; the fundamental skill of building a solid business plan; and, finally, the vision to recognize opportunity where others see chaos, contradiction, and confusion.

What is Intrapreneurship? : 

Entrepreneurship PGP 2008 11 What is Intrapreneurship? Entrepreneurial activities that receive organi-sational sanction and resource commitments for the purpose of innovative results.

Other Glossary Items (p726) : 

Entrepreneurship PGP 2008 12 Other Glossary Items (p726) Angel capital; Barriers to entry; Bootlegging; Business incubator; Business Plan; Corporate entrepreneurship; Creativity; Dark side of entrepreneurship; E-commerce; Ethics; Failure prediction model; Franchise; Growth stage; Harvest strategy; Immersion in business; Incubation process; Learning curve concept; Lifestyle venture; Skimming… …

Indian Entrepreneurs : 

Entrepreneurship PGP 2008 13 Indian Entrepreneurs Dhirubhai Ambani JRD Tata Adi Godrej Anil Ambani Dr K Anji Reddy Azim Premji Bhai Mohan Singh B M Munjal Ekta Kapoor Ghanshyam Das Birla 11. Karsan Bhai Patel 12. Kiran Mazumdar Shaw 13. K.P. Singh 14. Kumar Mangalam Birla 15. Lalit Suri 16. M S Oberoi 17. Mukesh Ambani 18. Nandan Nilekani 19. Narayan Murthy 20. Naresh Goyal

Indian Entrepreneurs......2 : 

Entrepreneurship PGP 2008 14 Indian Entrepreneurs......2 21. Dr C Pratap Reddy 22. Rahul Bajaj 23. Ramalinga Raju 24. Ratan Tata 25. Raunaq Singh 26. Shiv Nadar 27. Subhash Chandra 28. Subrato Roy 29. Sunil Mittal 30. Tulsi Tanti 31. Verghese Kurien 32. Vijay Mallya 33. Mallika Srinivasan 34. Naina Lal Kidwai 35. Shahnaz Hussain 36. Sulajja Firodia Motwani 37. Shobhana Bhartia Any more Indian Names? Any more NRI Names??

NRI Entrepreneurs : 

Entrepreneurship PGP 2008 15 NRI Entrepreneurs Amar Bose Arun Sarin Indra Nooyi Laxmi Mittal Sabeer Bhatia Lord Swaraj Paul Vinod Dham Vinod Khosla KB Chandrasekhar

Biography : 

Entrepreneurship PGP 2008 16 Biography Born: December 28, 1932 Died: July 06, 2002 Built India’s largest private sector company Created Equity cult in the Indian Capital Market India’s first company in Forbes 500 List Who is he or she?

Dhirubhai Ambani : 

Entrepreneurship PGP 2008 17 Dhirubhai Ambani

Dhirajlal Hirachand Ambani : 

Entrepreneurship PGP 2008 18 Dhirajlal Hirachand Ambani Born at Chorwad, Gujarat, into a Modh family His father was a school teacher He started his entrepreneurial career by selling "bhajias" to pilgrims in Mount Girnar over the weekends. After doing his matriculation at the age of 16, Dhirubhai moved to Aden, Yemen Worked there as a gas-station attendant, and as a clerk in an Oil Company He returned to India in 1958 with Rs 50,000 and set up a textile trading company Assisted by his two sons, Mukesh and Anil, Dhiru Bhai Ambani built India's largest private sector company, Reliance India Limited, from a scratch

JRD Tata : 

Entrepreneurship PGP 2008 19 JRD Tata Jehangir Ratanji Dadabhoy Tata July 29, 1904 to November 29, 1993 His mother was a French, father was Parsi Educated in France, Japan and England joined Tata & Sons as unpaid apprentice in 1925 India's first pilot (FEB 1929); Tata Aviation in 1932; Chairman of Tata & Sons :50 years (1938 to 1988); launched Air India International as India's first international airline 1948; Bharat Ratna in 1992 Asia’ first Cancer hospital Tata Memorial : 1941

JRD Tata (1904 – 1993) : 

Entrepreneurship PGP 2008 20 JRD Tata (1904 – 1993) Trustee of Sir Dorabji Tata Trust from 1932 Tata Institute of Social Sciences, 1936 (TISS), Tata Institute of Fundamental Research, 1945 (TIFR), and National Center for Performing Arts (NCPA) He received the Padma Vibhushan in 1957 TATA Steel, TCS, TAS, TELCO, Tata Tele., TITAN He also received the Guggenheim Medal for aviation in 1988 JRD Tata died in Geneva, Switzerland on November 29, 1993 at the age of 89

Slide 21: 

Entrepreneurship PGP 2008 21

Some more names.... : 

Entrepreneurship PGP 2008 22 Some more names.... GMR – Grandhi Mallikarjuna Rao Air Deccan – Capt Gopinath GVK – GV Krishna Reddy Sam Pitroda Kishore Biyani Dr TMA Pai Jerry Rao Ashok Soota Vani Kola...

Finally, some women too......... : 

Entrepreneurship PGP 2008 23 Finally, some women too.........

And, now ... SMGULP : 

Entrepreneurship PGP 2008 24 And, now ... SMGULP

Sri Mahila Gruh Udyog Lijjat Paapad, Mumbai : 

Entrepreneurship PGP 2008 25 Sri Mahila Gruh Udyog Lijjat Paapad, Mumbai