Entrepreneurship AwarenessSession
Vishal Garg(Assistant Professor GIMT
Research Scholar Thapar University)
Sponsored ByDepartment Of Science & Technology
Government Of India Initiative
Shri Mahila Griha UdyogLijjat Papad
Shri Mahila Griha Udyog Lijjat Papad, popularly known as Lijjat, is an Indian women's organization involved in manufacturing of various spicy Papads.
The organization's main objective is empowerment of women by providing them employment opportunities. Started in the year 1959 with a seed capital of Rs. 80, Lijjat today has an annual turnover of around Rs. 500 crore, with Rs. 250 crore in exports and provides employment to around 42,000 employees.
It is considered as one of the most remarkable entrepreneurial initiatives by women that is identified with female empowerment in India
Who is an Entrepreneur ? An entrepreneur is a person who has possession of a new
enterprise, venture or idea and assumes significant accountability for the inherent risks and the outcome.
An entrepreneur is an individual who accepts financial risks and undertakes new financial ventures.
An entrepreneur is a person who is responsible for setting up a business.
An Entrepreneur is a person who organizes and manages a business undertaking, assuming the risk for the sake of profit. Any person (any age) who starts and operates a business is an entrepreneur.
Who is an Entrepreneur ? (1) E: xamine needs, wants, and problems to see how
they can improve the way needs and wants are met and problems overcome.
N: arrow the possible opportunities to one specific "best" opportunity.
T: hink of innovative ideas and narrow them to the "best" idea.
R: esearch the opportunity and idea thoroughly. E: nlist the best sources of advice and assistance that
they can find. P: lan their ventures (Project) and look for possible
problems that might arise.
Who is an Entrepreneur ? (2)
R: ank the risks and the possible rewards. E: valuate the risks and possible rewards and make their
decision to act or not to act. N: ever hang on to an idea, no matter how much they may
love it, if research shows it won't work. E: mploy the resources necessary for the venture to
succeed. U: nderstand that they will have to work long and hard to
make their venture succeed. R: ealize a sense of accomplishment from their successful
ventures and learn from their failures
Must haves for Any Entrepreneur:
Great idea Leadership skills Strong Vision Good team spirit Determination to succeed A good mentor (Teacher) Accept failure as the stepping stone to success Belief in oneself Passion and commitment Self-confident and self-reliant Goal-oriented Hardworking and energetic
Basic Types of Entrepreneur
3 Confusing Terms ???????
Entrepreneur
Entrepreneurship
Enterprise
• A Person
• Process of Action
• Business Object
Entrepreneur Process Diagram
Motivation to make a difference
Spotting & Exploiting
Opportunities
Finding the required
resources
Using networks
extensively
Overcoming Obstacles
Controlling the
Business
Start Getting Good return
Showing determination in the face of
adversity
Managing Risk
Entrepreneurship Defined.
Entrepreneurship is the act of being an entrepreneur.
Capacity and willingness to undertake conception, organization, and management of a productive venture with all attendant risks, while seeking profit as a reward.
In economics, entrepreneurship is regarded as a factor of production together with land, labor, natural resources, and capital.
The definition of entrepreneurship is a process through which individuals identify opportunities, allocate resources, and create value.
Process of Entrepreneurship
Entrepreneur
Resources
Opportunity
Organisation
1. Identify and evaluate the opportunity
3. Determine andattract resourcesrequired
4. Lead and manage resulting enterprise
2. Develop Business Plan
Challenges for Entrepreneur (1)
Lack of adequate credit Unreliable supply of raw materials,
inputs, power, finance, labour, etc. High cost of raw materials and other
inputs Assembling a Team Unfavorable market fluctuations Complex rules, regulations and
procedures framed by the some Government
Challenges for Entrepreneur (2)
Global competition Changes around the globe Unforeseen Challenges and Expenses Keeping Up With Industrial Changes
and Trends Balance between projects and
personnel Delayed payments Time Management
Advantages of being Entrepreneur Bridges gap between Knowledge & application Converting idea into money. Be your own Boss. Better utilization of resources and skills. Bake the business opportunities. Respected by society Salary Potential Flexibility & Dynamic Job security (You create your own employment.) Self-satisfaction, personal achievement, and
recognition No Set Schedules Independence
Disadvantages of being Entrepreneur (1)
No Regular Salary Work Schedule (can work more hours) Administration Chance of business failure Pressure to succeed Stress
Disadvantages of being Entrepreneur (2)
Financial risk Sacrifices (family time, financial
sacrifices) Different Responsibility Incompetent staff Time management High competition
Factors Influencing Entrepreneurship
Individual
Economic
EnvironmentSocio-cultural
factors
Support Systems
Political Environmen
t
LegalEnvironmen
t
TechnologicalEnvironment
Factors Affecting Entrepreneurs
Entrepreneurship and Economic Development (1)
Employment Generation National Income Balanced Regional Development Dispersal of economic power Better standards of living Creating innovation
Entrepreneurship and Economic Development (2)
Raises productivity Play a strategic role in commercializing
new inventions and products Improve the social welfare of a country Create new markets International competition An overall desire to improve efficiency
and productivity
Idea generation• Screen ideas against new business strategy
Concept development and evaluation• Test concept with customers & employees
Business analysis• Test for profitability and feasibility
Product development and testing• Conduct product prototype test
Market testing• Test product & other marketing mix element
Commercialization
Post introduction evaluation
Front end Planning
Implementation
New Business development Process
Factors favoring Entrepreneurship in India
Growth of education- science, technology & management
Developed infrastructure facilities Financial assistance Training facilities Protective and promotional policies Globalization Manpower Resources Economic and Political stability
Checklist for Aspiring Entrepreneurs
Do it for passion not money Do something you know about Don’t give up too early Have a mentor Have appropriate funding Be a good cash manager Build sales first Don’t try to rush Be wary of bad advice or suppliers
Why to promote Entrepreneurship? In India, where over 30 crores people are
living below the poverty line, it is simply impossible for any government to provide means of livelihood to everyone.
Such situations surely demand for a continuous effort from the society, where the people are encouraged to come up with their entrepreneurial initiative.
Dhirubhai Ambani
Dhirubhai Ambani alias Dhirajlal Hirachand Ambani.
His father was a school teacher. Dhirubhai Ambani 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 Yemen. He 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 company.
Narayan Murthy
Born in 1946, Murthy's father was a school teacher in Kolar district, Karnataka, India. A bright student, Murthy went on to acquire a degree in Electrical Engineering from Mysore University and later studied Computer Science at the IIT, K
The Infosys legend began in 1981 when Narayana Murthy dreamt of forming his own company, along with six friends.
There was a minor hitch, though-he didn't have any seed money.
Luckly, like many Indian women who save secretly without their husband's knowledge, his wife Sudha-then an engineer with Tatas-had saved Rs 10,000.
Sarathbabu founder of FOOD KING
When 27-year old Sarathbabu graduated from the Indian Institute of Management, Ahmedabad, he created quite a stir by refusing a job that offered him a huge salary. He preferred to start his own enterprise -- Foodking Catering Service -- in Ahmedabad, now widely famous in Gujarat
Kiran Mazumdar-Shaw
She was born in Bangalore, and educated at the Bishop Cotton Girls School and Mount Carmel College at Bangalore.
Collaborating with the Irish firm, she founded Biocon India with a capital of Rs. 10,000/- in 1978.
The initial operation was to extract an enzyme from papaya.
Her application for loans was turned down by banks on two counts – biotechnology was then a new word and the company lacked assets
Ekta Kapoor
Ekta Jeetendra Kapoor is an Indian TV and film producer. She is the Creative Director and Joint Managing Director of Balaji Telefilms, her production company, she is most famous for having created and supervised some of the most popular serials in Indian television history, serials that kept the audiences rooted to their television sets and also influenced the psyche of the people
Shahnaz Husain
Shahnaz Husain (Shahnaz) was another successful woman entrepreneur of India.
She popularized herbal treatments for beauty and health problems. Her company, Shahnaz Husain Herbals, is the largest of its kind in the world and had a strong presence in over 100 countries, from the US to Asia.
The Shahnaz Husain Group had over 650 salons around the world, employing about 4200 people. The net worth of the Group is $100 million.
Sulajja Motwani Joint Managing Director of
Kinetic Engineering Ltd., is in-charge of the company's overall business developmental activities. She is also the Director of Kinetic Motor Company Limited and Kinetic Marketing Services Limited.
She was ranked among the top 25 business entrepreneurs of the country
Ratan Tata
Ratan Naval Tata is the present Chairman of Tata Sons and therefore, Tata Group, India's largest conglomerate founded by Jamsedji Tata and consolidated and expanded by later generations of his family. He is also the chairman of major Tata companies such as Tata Steel, Tata Motors, Tata Power, Tata Consultancy Services, Tata Tea, Tata Chemicals, The Indian Hotels Company and Tata Teleservices.
Challenges Before Women Entrepreneurs
Lack of confidence Socio-cultural barriers Market-oriented risk Less Motivated Less Knowledge in Business Administration No Awareness about the financial assistance Exposed to the training programs Family concern Identifying the available resources (Travelling)
Areas Of Interest for Women Entrepreneurs • Eco-friendly technology
• Bio-technology
• IT enabled enterprises
• Event Management
• Tourism industry
• Telecommunication
Mineral water
Sericulture
Floriculture
Herbal & health care
Food, fruits & vegetable processing
Plastic materials
Association promoting Entrepreneurs
Self help groups (SHG) Federation of Indian Women Entrepreneurs (FIWE) Women’s India Trust (WTI) Small Industries Development Bank of India
(SIDBI) Small industrial Development Organization (SIDO) Consortium of Women Entrepreneurs of India
(CWEI) Self Employed Women's Association (SEWA) NABARD Various Central And State Government Schemes
10 Practical Steps to Encourage Entrepreneurship (1)
Step 1: Build Affordable Incubation (Breeding Centres)Facilities in Every City
Step 2: Enable Business Registration (in less than a week, and with no minimum
capital) Step 3: Enable Cross-border Work Visas
(between human resources rich countries, and their neighbors with large markets)
Step 4: Provide Equity Funding (Venture Capital)
Step 5: Relax Financing (provide loan guarantee programs to SMEs with no collaterals)
10 Practical Steps to Encourage Entrepreneurship (2)
Step 6: Plug-In Academia (Help fromuniversities & incubators centers)
Step 7: Ease Customs and Taxes (5 year tax breaks for knowledge-based businesses)
Step 8: Enable Technology Transfer (provide free technical assistance to incorporate technology in every business)
Step 9: Provide Mentorship (a qualified mentor is the right for every entrepreneur)
Step 10: Celebrate Success (embrace and promote success and create more role models)
Education & Entrepreneur Relationship
Contribution of SSIs
As per 2008-08, the number of SSI is 123.42 lakhs which employs nearly 295 lakhs.
The export from SSI is more than 1,24,000 crores in 2008-09.
SSI contributes 45% of manufacturing exports and 34% of total
Growth rate of SSI is 10% in terms of production.
Suggestions Government support and Policies Reforming the Educational Infrastructure Promoting equal opportunities Encouraging and facilitating the
international exchange of ‘good practice’ Creating awareness about Self employment Availability of Financial instruments Creation of National Commission Encouraging young entrepreneurs to
enhance networking Establishment of Independent bodies
“A leader is one who knows the way, goes the way, and shows the
way.”
Thanks to Management Of Maharishi Ved Vyas Vollege for allowing me to share the thoughts regarding Entrepreneur
HelpLine (Govt Of India)
Vishal Garg 9068546833 [email protected]
Mr SriKant Kaushik 9996116100 [email protected]
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