CIA-1

ENTREPRENEURSHIP DEVELOPMENT

TOPIC: ENTREPRENEURIAL COMPETENCIES

SUBMITTED TO: PROF. MALMARUGAN DEVANATHAN

SUBMITTED BY: VARUN KUMAR

REGISTRATION NUMBER: 2023345

CLASS: 4BBAH D

DATE OF SUBMISSION: 24th JAN 2021

 About the enterprise and founders:

Brijmohan Lall Munjal

Brijmohan Lall Munjal was born on 1st July 1923, Punjab, British India. He and

his brothers started a bicycle parts business. Inspired by this idea, he established

a two-wheeler company known as Hero Motocorp. The company sold scooters

and mopeds in collaboration with Honda; together with Honda, he set up a plant

in Dharuhera, Haryana. In 2011, hero and Honda departed from their joint

venture. Now Hero Motocorp sells popular Indian bikes and scooters, namely

hero splendor+, hero maestro, Xtreme etc. this company is very dominant in the

Indian market. It claims 40% of the market share in its industry

Tarun Mehta and Swapnil Jain

On seeing the potential of the growing electric

vehicle segment in the future, Mehta and Jain

 IIT Madras took a gamble in this venture and launched Ather energy in

Bangalore;

The objective of this company is to build an electric scooter that could either

match the performance of a petrol-powered scooter or do better. After five years

of intensive research, development and $63 million in venture capital later,

Ather Energy launched two electric scooters— the Ather 340 and 450. Now the

company commands a 12% market share in its home country and can conquer

the Indian market in the future.

Motives for their establishment:Hero motocorp & Ather electric.

Hero motocorp: On the development of hero cycles by Brijmohan and his

brothers, Brijmohan wanted to advance and was keen on creating a mode of

transport that was not only effective but also affordable by all the classes of

people, hence came the advent of hero Honda now known as Hero motocrop.

Brijmohan and Hero motocorp, apart from the business motive, wanted the

Indian public affected by partition to purchase a motorbike that was affordable,

durable and valued for money. This core ideology is a driving force of hero

motocorp to this very day, an ideology that has taken the company to impossible

heights.
With all their motives induced, the company launched The Hero Honda CD 100

model (low emission and high fuel efficiency). And the rest is history.

Ather electric: The inverse correlation of depleting petroleum resources and the

advent of electricity in the transportation industry, both Tarun and Swapnil

decided to have a go at this potential industry.

In an already established two-wheel industry, Ather launched its products to

change the perception of two-wheel transportation and e-vehicle. They want to

build their scooters/EVs on power with fuel-driven scooters such as Tvs Jupiter

125 or Suzuki access 125.

Along with such high claims and workings, Ather wants to make the Indian

market future proof and ready for pollution-free transportation, which is the way

forward.

With the zeal to grow and conqueror, Ather's mission is to build the future of

mobility – one that is connected and electric.

Entrepreneurial competencies:

Opportunity seeking: An ongoing process of continuously seeking, evaluating

and perusing market-based activities that are advantageous for the firm.
Hero Motocorp: Brijmohan Lall Munjal was a true visionary at the time of this

venture. He could foresee the future of Indian mobility when India underwent

the partition. Seeing an opportunity, he shifted from manufacturing cycles to

affordable yet promising motorbikes. Manufacturing motorbikes as a start was a

challenging task; hence, he sought to collaborate with the Japanese

manufacturing expertise Honda to kick start their journey.

Ather electric: Ather today is a company because of the opportunity-seeking

talents of Tarun and Swapnil. At the time of the companies establishment, the

petrol prices in India were at their all-time low Rs.63, but this didn't hold them

back; they saw the future of bike mobility in terms of an electric vehicle, and

they also anticipated that the natural resources such as petroleum becoming

scares and making them expensive hence making their concept of e-vehicle, the

key for mobility in the future to come. The sheer anticipation based on data of

depilation (petroleum) matched with their opportunity-seeking talents went to

introducing Ather 350 and 450 bikes.

Risk: Risk refers to placing self in situations involving a challenge or exposure

outside the comfort zone. This is one of the essential attributes for an individual

to kick start his entrepreneurship journey.

Hero Motocorp: Brijmohan was known for such an attribute since he had the

risk-taking capability when India as a nation was at its lowest due to the

partition. Instead of being crippled by the turn of events, he saw an opportunity

and didn't hesitate to clutch it with his arms wide open. He took the risk of

moving away from the popular means of commuting via cycles to

manufacturing bikes.

Ather electric: Being IIT students, both Tarun and Swapnil could have landed

any good position if they followed the traditional methods of getting employed.

Still, these two individuals dared to move away and take the less chosen road to

become entrepreneurs. At the time of the company establishment, many other

means to power a vehicle competed to take over petroleum, such as CNG, LPG,

hydrogen and electricity. This means intense and fierce competition to develop

and deliver a genuinely effective vehicle and used future technologies; both

Tarun and Swapnil together introduced Ather to enter this fierce competition

and not back off until they were victors.

Persuasion and influencing ability: Persuasion and influencing are the ability

to change or sway an individual's perception according to their ideologies and

thinkings.

Hero motocorp: Brijmohan had an influencing factor around him and his

company. He showed cased that the future of mobility moved away from cycles

and expensive bikes to affordable and efficient motorbikes with the launch of

Hero motocorp. Through this as their mission and vision, hero motocorp gained

enough trust and influenced the market so much that they are now the market

leader, capturing 40% in the two-wheeler industries.

Ather electric: Tarun and Swapnil were ahead of the curve on proving to the

people that the same electricity we use to power our home appliances was

enough and powerful to fuel an engine and a motor. They accomplished this

mission and showed the people that the EVs produced by them were as practical

as the petroleum run scooters and proved to the people that EVs were more

cost-efficient and eco-friendly as well. They gave more reasons to the public to

show them that Ather is the future of mobility.

Systematic planning and monitoring: It's the process of breaking down the

mission and vision into tasks that are doable in a said set of times. Monitoring is

the process of observing and correcting when wrong.

Hero motocorp: Brijmohan was the founder and was the chairman of hero

motocorp; this ensured he could monitor the development and progress. This

monitoring process gave Brijmohan the power to systematically introduce bikes

to support the cause of affordability and efficiency. This slowly helped define

hero motocorp, its reputation, name and success.

Ather electric: Tarun and Swapnil have an eye for details and steps. This

company was set up in 2013, but their first bike wasn't out till 2016. To launch

their EVs in 2016, they took three years to systematically plan for the whole

course of the company—multiple designs and trials were tried and tested for

launching a bike, defect free. Tarun and Swapnil claim that they were down at

the factor day and night to monitor its progress.

Self-confidence: This is a feeling of trust in one's ability, qualities and

judgment. This competency needs to be present in entrepreneurs in abundance

to be successful.

Hero motocorp: In the case of Brijmohan, self-confidence played a significant

role because before starting up hero motocorp, he and his brothers were selling

cycles together. When he proposed selling motorbikes to his brothers, they

didn't join him; hence he only had his self-confidence to back him at the time of

the company's establishment. This same self-confidence helped hero motocorp

to strike a deal with Honda. He never doubted his vision and ideas, hence

becoming a successful founder of a successful company, Hero motocorp.

Ather electric: Tarun and Swapnil ignored the road most taken, i.e. being

employed and looking towards setting up a business; it needs self-confidence

for this first step to be taken. They needed to believe they would successfully

take over the two-wheeler segment by storm. They needed to believe in their

ability to create and produce what they thought was the future of mobility for

the world. As seen, these two young entrepreneurs had this quality and hence

established Ather electric.

 Reference:

 Anand, S. (2022, January 15). Ather Energy | Indian Electric Vehicle Company |

Company Profile |. StartupTalky.

https://startuptalky.com/ather-success-story/#Ather_Ather-Mission

 Wikipedia contributors. (2022, January 20). Ather Energy. Wikipedia.

https://en.wikipedia.org/wiki/Ather_Energy

 Wikipedia contributors. (2022a, January 6). Hero MotoCorp. Wikipedia.

https://en.wikipedia.org/wiki/Hero_MotoCorp

 Welcome to the world of Hero MotoCorp. (2019). Hero Motocorp.

https://www.heromotosports.com/about/hero-corp

 Anand, S. (2022b, January 15). Ather Energy | Indian Electric Vehicle Company |

Company Profile |. StartupTalky. https://startuptalky.com/ather-success-story/#:

%7E:text=experience%20in%20India.-,Ather%20%2D%20Mission,never%20been

%20a%20better%20time.

 entrepreneurial competencies. (2019, January 12). Mosr.

https://sciendo.com/pdf/10.1515/mosr-2019-0012

 Brijmohan Lall Munjal: The people’s man who shaped Hero. (2015, June 15).

Business Standards. https://www.business-standard.com/article/companies/brijmohan-

lall-munjal-the-people-s-man-who-shaped-hero-115061001220_1.html