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