ENTREPRENEURSHIP

Lalit Chikker
 Phanindra Sama

Ritesh Aggarwal
Who is a Entrepreneur.......
 Entrepreneur

An entrepreneur is someone “who sets up a business

or businesses, taking on financial risks in the hope of
profit”.

(Oxford Dictionaries definition)

 Entrepreneur

An entrepreneur is one who creates a

new business in the face of risk and
uncertainty for achieving profit and
growth opportunities and assembles
the necessary resources to capitalize
on those opportunities.
 THE ENTREPRENEUR
always searches for change,
responds to it and exploits it
as an
OPPORTUNITY
 Need for Entrepreneurship
Entrepreneurship facilitates the development
of a country by contributing to the following
factors:
•By contributing in the growth of GDP
• Increasing productivity
• Creating employment opportunity
•Generation of foreign exchange
•Innovation in techno-managerial practices
Optimum use of local resources resulting in
Balanced Area Development
Barriers to Entrepreneurship

*Lack of adequate entrepreneurship training

*Fear of failure
*Aversion to risk
*Lack of technical & practical skills
*Unsupportive business environment
*Entry Barriers
*Shortage of funds & resources
 Types of Entrepreneurship
 Founder (“Pure” Entrepreneur)
An entrepreneur who brings a new firm into
existence.
 General Manager (“Second Stage”
Entrepreneur)
An entrepreneur who directs the continuing
operations of established firms.
 Franchisee
An entrepreneur whose power is limited by
the contractual relationship with a
franchising organization.
Entrepreneurship Pyramid in India
Entrepreneurs: Born or Made?

 Is there inborn talent required?

 Assume that the answer is YES:

◦ then we can identify the main characteristics
◦ if we have them, fine - no others need to
apply!
◦ we could start spotting talent in kindergarten
◦ we could "stream" these people
◦ we could discourage people without these
talents
Entrepreneurs: Born or Made?
 Assume the answer is NO:
◦ then schools could teach anyone
◦ would be a "profession" like law or medicine
◦ companies could establish "nurseries" for
them
◦ government "incubators" would be
successes

 The real answer lies somewhere in-

between
◦ Talent and education is the way
Entrepreneurial Characteristics
STATE BANK OF INDIA
Entrepreneurial Characteristics
Being an entrepreneur requires specific
characteristics and skills that are often achieved
through education, hard work and planning.

Imaginative
Entrepreneurs are creative. They imagine solutions
to problems that encourage them to create new
products and generate ideas.

Persistent
True entrepreneurs face bureaucracy, make
mistakes, receive criticism, and deal with money,
family or stress problems. But they still stick to their
dreams of seeing the venture succeed.
 Entrepreneurial Characteristics
Self-confident
Entrepreneurs believe in themselves and their dreams.

Hardworking
Entrepreneurs are prepared to work for long hours to see
that their venture succeed.

Perceptive
Entrepreneurs view problems as opportunities.

Curious
Entrepreneurs like to know how things work. They take
the time and initiative to pursue the unknown.
 Entrepreneurial Characteristics
Flexible
Entrepreneurs must be flexible in order to adapt to
changing trends, markets, technologies, rules and
economic environments.

Independent
An entrepreneur’s desire for control and the ability to
make decisions often makes it difficult for them to work
in a controlled environment.

Risk Taker
Businesses face risk. Entrepreneurs minimize risk
through research, planning, and skill development.
SWOT Analysis of Entrepreneurship

Strength
 Being your Own Boss
◦ Self-management is the motivation that drives
many entrepreneurs.
 Financial Independence
◦ Entrepreneurs are wealth creators.
 Social Recognition
◦ Society and Government recognize their
contribution towards country’s development
 Quality of Life
◦ Starting a business gives the founder some
choice over when, where and how to work.
SWOT Analysis of Entrepreneurship

Weakness
 Long Hours & Hard Work
◦ Continuously finding new customers &
markets
◦ Frustrations with financing, government,
tax, technology & employment issues
 High level of stress
 Disruptions to personal life
 Complete responsibility
 Emotional loneliness
SWOT Analysis of Entrepreneurship

Opportunity

 Do what you enjoy & have fun at it

 Create your own destiny
 Opportunity to reap large profits
 Opportunity to reach your full potential
 Contribute to society’s welfare
 Opportunity to make a difference
SWOT Analysis of Entrepreneurship

Threat

 Uncertainty of income
 Risk of losing your entire investments
 Chances of failure
 Social stigma in case of possible
failure
 Entrepreneurial Potential

All of us have
entrepreneurial
potential. Degree
might differ. It is
just a matter of
developing that
potential.
Developing Entrepreneurial Potential
 No individual may have all the attributes and skills needed
 Know what’s missing : attributes or skills
 Knowing how to compensate can be as valuable as already
having the skill
Some of the strategies to develop Entrepreneurial
Potential can be:
 Have entrepreneur role models
 Don’t fear failure
 Read articles and books about entrepreneurs
 Attend Tradeshows & Exhibitions
 Meet Government Agencies & Local Chamber of Commerce
 Consult Professional Business Consultants
 Practice case studies that involve goal-oriented behavior,
creativity and moderate risk-taking
Causes of failures of Entrepreneurship

 Management mistakes
 Poor financial control
 Weak marketing efforts
 Failure to adapt to competitive
environment
 Failure to develop a strategic plan
 Uncontrolled growth
 Incorrect pricing
 Hostile External Environment
 Government Policies
 How to avoid the failures
Understand the business in depth
Develop a good business plan in
writing
Have a contingency plan
Develop a competent team
Continuously improvise and innovate
Proper management of financial
resources
“I’m Convinced that
about half of what
separates the
successful
Entrepreneurs
from the
non-successful
ones is pure
perseverance.”
STEVE JOBS
 Success Story
Dhirubhai Ambani- The RELIANCE Group
 Dhirubhai Ambani was the most enterprising Indian
entrepreneur. His life journey is reminiscent of the
rags to riches story.
 Dhiru Bhai Ambani built India’s largest private sector
company. He created an equity cult in the Indian
capital market. Reliance is the first Indian company to
feature in Forbes 500 list.
 Ambani started his entrepreneurial career selling
“bhajias” to pilgrims in Mount Girnar over the
weekends.
 After doing his matriculation at the age of 16, Ambani
moved to Aden, 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 trading company.
 Success Story
Dhirubhai Ambani- The RELIANCE Group
* Assisted by his two sons, Mukesh and Anil, Dhirubhai
built India’s largest private sector company, Reliance
India Limited, from scratch. Over time his business has
diversified into a core specialization in petrochemicals
with additional interests in telecommunications,
information technology, energy, power, retail, textiles,
infrastructure services, capital markets and logistics.

* Dhirubhai revolutionized capital markets. From nothing,

he generated billions of rupees in wealth for those he
put their trust in his companies. His efforts helped
create an ‘equity cult’ in the Indian capital market.
FOLLOW YOUR
DREAMS
Or you’ll spend
the rest of your
life working for
someone who did
 THANK YOU 