entrepreneurship in india
TRANSCRIPT
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EntrepreneurshiEntrepreneurshipp
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ENTREPRENEURSHIP :
“Most of what you hear about entrepreneurship is all wrong. It’s not magic; it’s not mysterious; and it has nothing to do with genes. It’s a discipline and, like any discipline, it can be learned.”
Peter F. Drucker
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CHARACTERISTICS OF SUCCESSFUL ENTREPRENEURS
PASSIONATELY SEEK NEW OPPORTUNITIES
PURSUE OPPORTUNITIES WITH ENORMOUS DISCIPLINE
PURSUE ONLY THE BEST OPPORTUNITIES
ADAPTIVE EXECUTION
SYNERGY
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72%
10% 10% 8%
0%
10%
20%
30%
40%
50%
60%
70%
80%
Independence Satisfaction
Best things aboutowning a business
Control Others
Survey by Padgett Business Services USA Inc.
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Types of Skills Required in Entrepreneurship
Technical Business Management
Personal
Writing Planning Inner Control
Oral Communication
Leadership Risk Taking
Monitoring theEnvironment
Interpersonal Innovative
Using Technology
Marketing (Selling)
Change-orientedvisionary
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Entrepreneur Process Diagram
Motivation to make a difference
Spotting & Exploiting
Opportunities
Finding the required
resources
Using networks
extensively
Overcoming Obstacles
Controlling the
Business
Financial, Social,
Aesthetic Capital
Showing determination in the face of
adversity
Managing Risk
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Entrepreneurship Process
The Idea Realizing the opportunity
Engaging the idea &
opportunity
Exploiting the opportunity
to build something of
value
The Inventor
The Opportunity Spotter The Project Champion
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Three Aspects of Entrepreneurship
• 1. The identification/recognition of market opportunity and the generation of a business idea (product or service) to address the opportunity
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Three Aspects of Entrepreneurship
• 2. The marshalling and commitment of resources in the face of risk to pursue the opportunity
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Three Aspects of Entrepreneurship
• 3. The creation of an operating business organization to implement the opportunity-motivated business idea
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India's PEOPLE – ITS STRONGEST ASSET Based on IMD World Competitiveness Survey
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A large pool of skilled people...
4.3
5.3
5.5
6.2
7.1
7.2
7.3
China
Mexico
Brazil
Russia
Germany
India
USA
Note: Survey results: 1=low; 10 = highSource: IMD world competitiveness Yearbook 2003
...with high end qualifications...
3.9
6.4
6.9
7.1
7.2
7.3
8.9
China
Mexico
Germany
Brazil
Russia
USA
India
...and extremely cost efficient
0.4
0.6
0.7
2.3
2.4
20.3
24.1
India
China
Russia
Mexico
Brazil
USA
Germany
Availability of skilled labour, 2003 Availability of qualified engineers, 2003
Total compensation for manufacturing workers, 2002
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CONFIDENCE: INDIA INC. GOING GLOBAL
Source: Literature Review
0
2000
4000
6000
8000
10000
12000
2002 2003 2004 2005 2006
Overseas Acquisitions by India Inc ($ US Million)
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A snapshot of Indians at the helm of leading Global businessesThe Co-founder of Sun Microsystems (Vinod Khosla),Creator of Pentium Chip (Vinod Dahm),Founder and creator of Hotmail (Sabeer Bhatia),Chief Executive of McKinsey & Co. (Rajat Gupta)President and CFO of Pepsi Cola (Indra Nooyi)President of United Airlines (Rono Dutta)GM of Hewlett Packard (Rajiv Gupta)President and CEO of US Airways (Rakesh Gangwal)Chief Executive of CitiBank (Victor Menezes),Chief Executives of Standard Chartered Bank (Rana Talwar)Chief Executive officer of Vodafone (Arun Sarin)President of AT & T-Bell Labs (Arun Netravali)Vice-Chairman and founder of Juniper Networks (Pradeep Sindhu)Founder of Bose Audio (Amar Bose)Founder, chip designer Cirrus Logic (Suhas Patil )Chairman and CEO of Computer Associates (Sanjay Kumar)Head of (HPC WorldWide) of Unilever Plc. (Keki Dadiseth)Chief Executive Officer of HSBC (Aman Mehta)Director and member of Executive Board of Goldman Sachs (Girish Reddy)Chief Economist of the International Monetary Fund (Raghuram Rajan
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Entrepreneurship
•Some advantages–You are your own boss–Enjoy the profits from your efforts–Sense of pride in your business–Flexibility in your work schedule
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Entrepreneurship
•Some disadvantages– Will need to put in long hours– Need money to start– Have to keep up with government
rules and regulations– May have to mark hard decisions
(hiring, firing, etc.) – May lose money
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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
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Questions & Answers ???
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Thank You