INTELLECTUAL PROPERTY RIGHTS AND ENTREPRENEURSHIP

Unit –IV
Introduction to Entrepreneurship – Learn how entrepreneurship has changed the world. Identify six
entrepreneurial myths and uncover the true facts. Explore E-cells on Campus
Listen to Some Success Stories: - Global legends Understand how ordinary people become
successful global entrepreneurs, their journeys, their challenges, and their success stories. Understand
how ordinary people from their own countries have become successful entrepreneurs.
Characteristics of a Successful Entrepreneur Understand the entrepreneurial journey and learn the
concept of different entrepreneurial styles. Identify your own entrepreneurship style based on your
personality traits, strengths, and weaknesses. Learn about the 5M Model, each of the five
entrepreneurial styles in the model, and how they differ from each other.
Communicate Effectively: Learn how incorrect assumptions and limiting our opinions about people
can negatively impact our communication. Identify the barriers which cause communication
breakdown, such as miscommunication and poor listening, and learn how to overcome them.
Communication Best Practices. Understand the importance of listening in communication and learn
to listen actively. Learn a few body language cues such as eye contact and handshakes to strengthen
communication.

Introduction
Entrepreneurship is the art of starting a business, basically a start up company offering creative
product, process or service. We can say that it is an activity full of creativity. An entrepreneur
perceives everything as a chance and displays bias in taking decision to exploit the chance. An
entrepreneur is a creator or a designer who designs new ideas and business processes according
to the market requirements and his/her own passion. To be a successful entrepreneur, it is very
important to have managerial skill and strong team building abilities.
Leadership attributes are a sign of successful entrepreneurs. Some political economists regard
leadership, management ability, and team building skills to be the essential qualities of an
entrepreneur. An entrepreneur is an innovator or a creator who introduces something new to the
firm or economy. It can be a new method of production, a new product, a new source of material,
a new market or any other similar innovation. Thus, an entrepreneur is an innovator, creator,
borrower, purchaser, etc. Some famous entrepreneurs are Azim Premji, Lakshmi Mittal, and Ekta
Kapoor.

10 of the Most Common Entrepreneurship Myths:

1. Entrepreneurs are born that way.
Many people assume that entrepreneurs are born that way — and that only people who have
certain natural talents can be entrepreneurs. However, the truth is that almost anyone can become
an entrepreneur if they can learn the necessary skills. True, some people may adjust to the
demands of the role more quickly, but there’s no rule that says only certain types of people can
found companies. Entrepreneurs may be gregarious extroverts or quiet introverts; they may be
“big picture” thinkers or more focused on the details of executing an idea. Entrepreneurism is a
learned skill, not a natural-born ability.
2. The only requirement is a good idea.
Many people also believe that all it takes to live the American dream is to have that one fantastic
idea for a company. While the notion isn’t entirely false, it is misleading. Even the very best
ideas — ones with the potential to disrupt an entire industry — need proper execution to become
reality. Ideas are important, but so are planning, talent, leadership, communication, and a host of
other factors.
3. Starting a new business guarantees freedom.
The appeal of breaking out of the traditional, 40-hour work week draws many to the prospect of
starting their own business. What lots of people find is that while they leave behind their old
schedule and creative limitations, they exchange them for new demands. Sure, there will be more
freedom in some respects, but entrepreneurism often requires great sacrifices. It can consume
every part of your waking life; the work doesn’t end when the clock strikes 5 p.m.

4. Launching a company quickly leads to wealth.

Some entrepreneurs mistakenly believe that starting a business will put them on the fast track to
earning substantial amounts of money — fast. Although some companies are immediately
successful, others take a little more time to get there. Properly timing the expansion of the
company and sustaining growth are two of the entrepreneur’s biggest tasks.

5. Only money motivates employees.

A myth related to the “get rich quick” idea is the assumption that money is the best way to
motivate employees. Recent statistics have shown that Millennials, who are quickly becoming
the majority in the workplace, would rather earn less at a job they enjoy than secure a higher
wage doing something they hate. Overcoming this misconception puts a heavy obligation on the
entrepreneur to develop not only a business model that generates revenue, but also a company
culture that engages employees.

6. Businesses either flourish or fail.

Because the select few startups that skyrocket out of the gate receive the bulk of the press, it’s
easy to adopt an all-or-nothing outlook on entrepreneurism. The overall high failure rate for new
businesses may seem to confirm this idea. However, entrepreneurs need to understand that
there’s a lot of patience and strategy involved in getting a company off the ground and keeping it
afloat. Some companies that initially falter, or that have lackluster growth rates at the start, go on
to achieve healthy growth.

7. All responsibility falls on the entrepreneur.

Another misconception about running a new business is that everything depends solely on the
entrepreneur. This might be true at the earliest stages, but taking this idea too seriously is also the
best way to guarantee burnout. Collaboration and the art of delegation figure strongly in the
health of a company. No one can do it all alone.

8. There’s a secret, “silver bullet” key to success.

In business, many successful entrepreneurs promote the impression that they’ve found some
kind of secret key to success. However, this doesn’t take into account the entrepreneur’s previous
ideas that failed; the old-fashioned hard work and patience they put in; or any of the many other
factors that are necessary to build a strong company. The reality is that a single key to success
does not exist. If anything, entrepreneurial success requires a keychain of different ideas, people,
and resources that must come together at the right time and place.
9. Businesses need someone with an MBA at the helm.
Confusing value and necessity is a mistake when it comes to entrepreneurs and business degrees.
On the one hand, a formal education provides immeasurable benefits. On the other, the market
does not require entrepreneurs to have an MBA or other business degree. Some start up owners
has degrees in subjects like engineering, for instance; they use their deep technical knowledge to
identify gaps in technology and devise solutions. Other successful start up founders has no
degree at all.

10. Quitting is for losers.

One final misconception is the idea that entrepreneurs have to stick everything out — no matter
what. But the fact is that not every idea will blossom into a sustainable company. Successful
entrepreneurs often cycle through and try out many ideas before they find one that has legs.
Quitting might look like failure, but really, it’s a common part of the entrepreneur’s journey and
can provide incredibly important lessons. Knowing when to walk away and move on to the next
idea is therefore critical.

Entrepreneurship is about changing the world

If you’re an entrepreneur, you seek change. All entrepreneurs set out to solve a problem that is
their purpose. They create jobs, drive innovation; they empower their employees to develop their
skills and abilities. They bring new ideas, products and employ other people to create a healthy
standard of living. Given the right environment, an entrepreneur can blossom into a key member
of society and improve the lives of others and possibly inspire them to create their own business.
Many brands and big companies give back to the communities in which they thrive through
corporate social responsibilities such as corporate philosophy.
Observation + solution + vision The entrepreneur is observing a real need or problem, creating
the solution to solve this problem and imagining a changed world for the better. He or she is born
with or develop a special set of skills and abilities: perseverance and passion for long-term goals,
courage, risk taking, shaping the future while encouraging diversity. The entrepreneur’s passion
is the engine pushing him through challenges, setbacks and struggles to achieve his purpose and
to change the world.

Here are 7 examples of entrepreneurs who brought change and shaped the world according
to their vision.

ALEXANDER GRAHAM BELL

Whenever the telephone rings, we rarely – if ever – remember the guy who started it all:
Alexander Graham Bell. Come to think of it, those ringtones we use on our mobile phones had
their start in that first ever telephone ringing sound that Bell was able to produce when he
invented the telephone and made the first call. Originally from Scotland, Bell was born on March
3, 1847 and died on August 2, 1922 with 30 patents to his name, 12 of which are shared with co
inventors. Even at a young age, he has shown an amazing aptitude for experimentation and
solving problems, and a passion for studying sound and the human voice. He took this up as the
focus of his attention when he moved to Canada in 1870. By joining forces with an electrician
named Thomas Watson, they successfully created the first voice transmitting device – the
telephone – in 1876. The success of this invention led Bell to establish the Bell Telephone
Company.

STEVE JOBS -When we speak of revolutionizing technology, there is no better example of that
than Steve Jobs, the co-founder of Apple Computers, which came out with some of the most
innovative products and inspired future innovations in computing and mobile technology. He
was only 21 years old when he founded Apple with his partner Steve Wozniak in their family
garage. They had a shared passion for electronics and computer design, and their vision was to
make computing more accessible to more users by making computers and computing machines
smaller and compact, more intuitive and user-friendly, and cheaper than the other computers at
the time. Jobs’ history with the company he co-founded was quite rocky. Their first products –
the Apple I and Apple II – were successes, but the next releases were not so much, especially
when IBM entered the picture and took the lion’s share of the computer market. Jobs was also
edged out of Apple, and he left in 1985. He proceeded on his own ventures, including setting up
Pixar Animation Studios. Jobs returned to Apple in 1997 as CEO and this is when the company
started its “golden age”. He died at the age of 56 on October 5, 2011, after a long battle with
pancreatic cancer. It was a short life, but his accomplishments and contributions have made him
an icon and one of the greatest innovators and entrepreneurs of all time.

WALT DISNEY- Many people easily identify Walt Disney as a filmmaker, and the creator of
the Disneyland theme parks. But we should give credit to where it is due, because Disney did
more than build theme parks and produce movies. Walter Elias Disney spent his younger years in
Chicago, Illinois, drawing and painting pictures and selling them to friends and neighbors. He
took this further by taking formal classes in drawing and photography. His work experience
included being a contributing cartoonist for a local newspaper, making commercials using cutout
animation, and even an ambulance driver for the Red Cross during a short stint in France. Disney
set up a small animation business and released several cartoon series, such as Laugh-OGrams
and Alice in Cartoonland. However, it did not last long, as they had to declare bankruptcy when
the studio was not able to repay all its debts. He took this as his cue to move to Hollywood with
his brother, and they set up the Disney Brothers’ Studio. They had a met a few snags at first, but
it wasn’t until Walt created “Mickey Mouse” that everything took off.

BILL GATES -It is safe to say that computers, as we know it, would not be what it is today if
not for William Henry Gates III. Most of the world knows Bill Gates as one of the richest men
alive, and that he amassed his wealth from having founded Microsoft, which is undisputedly the
largest software business in the world. But behind the businessman and the philanthropist is one
of the most creative entrepreneurs the world has ever seen. Gates started to become interested in
computer programming at a very young age, pursuing it in college. It was still during his high
school years when he first went into business, in partnership with his friend and schoolmate Paul
Allen. Together, they developed a traffic pattern monitoring computer program that they called
“Traf-oData”. This partnership was carried on to college, until Gates decided to quit Harvard and
set up the company they called “Microsoft”. This was in 1975. The start of Microsoft was shaky
in the beginning. They started by developing software for Altair computers of Micro
Instrumentation and Telemetry Systems or MITS. The two companies parted ways in 1977 and
in 1978, Gates moved the center of operations of Microsoft to Bellevue, Washington.
 JEFF BEZOS We cannot talk about modern business and commerce without mentioning
Amazon, currently the largest e-commerce portal and marketplace in the world, and the brains
behind the whole operation: Jeff Bezos. Jeff Bezos is credited for being the one who pioneered e-
commerce when he founded Amazon.com, initially as an online bookstore. He, too, was
interested in computers, and would later study electrical engineering and computer science in
college. For a while, he worked at Wall Street, and even became the youngest vice president in a
Wall Street investment company. But that was not where his interest lies, so he quit his job –
lucrative though it is – and took a risk. He started developing Amazon.com. Amazon.com
officially opened on July 16, 1995, and it became a worldwide sensation in just over a month.
Granted, Amazon.com was not the first e-commerce site at that time, as other retailers also had
their own online stores. However, Amazon.com was able to come out on top.

LARRY PAGE “Google” is one of the most recognizable names and brands today, so much so
that almost everybody now uses it even as a verb. If you want to know something about
anything, all you have to do is Google it. “Google” is one of the most recognizable names and
brands today, so much so that almost everybody now uses it even as a verb. If you want to know
something about anything, all you have to do is Google it. The creative entrepreneur behind this
phenomenon is Larry Page, undisputedly one of the best internet entrepreneurs the computing
world has ever seen. He is, first and foremost, a computer scientist, having studied computer
engineering when he attended Stanford University. Together with his friend Sergey Brin, Page
set up a search engine that “listed results according to popularity of the pages”. This was in 1998,
and they called it Google. Today, it is the most popular and widely used search engine, and the
company itself has now become a conglomerate, having purchased YouTube.

MARK ZUCKERBERG Arguably, Mark Zuckerberg is the most popular internet personality,
and a success story that a film was made about him and his founding of what is now the largest
social networking website, Facebook. Thanks to Facebook, Zuckerberg became one of the
youngest billionaires in the world, and his story goes a long way back, even when he was a
young boy creating computer games just for the fun of it. He was only 12 years old when he
successfully created a computer messaging program that he called “Zucknet”. While studying at
Harvard, he continued developing software and programs and, on June 2004, he and his friends
ran “The Facebook” from his Harvard dorm room.

E-cells on Campus

To help students achieve their entrepreneurial dreams, IIITB has a E-Cell on campus. The ECell
acts as a bridge between the students, staff, research labs, institute's Innovation Centre and
alumni, in addition to helping students in spotting business ideas and executing them
successfully. The Entrepreneurship Cell, IIT Bombay The Entrepreneurship Cell, IIT Bombay,
also known as E-Cell, IIT Bombay, is the primary entrepreneurship promoting body of the Indian
Institute of Technology Bombay, managed and run completely by the students of the institute. It
organises initiatives like the annual business plan competition Eureka! and the flagship event,

The Entrepreneurship Summit (E-Summit) in January each year, which receives a footfall of
over 20000. Vision The Entrepreneurship Cell, IIT Bombay targets to help in the development of
India's entrepreneurial ecosystem by enabling easy and efficient interaction between its major
components spanning students, working professionals, aspiring and existing entrepreneurs,
mentors, angel investors, venture capital firms and corporates through events like interactive
sessions, competitions and conferences History The Entrepreneurship Cell was formed by
students and some Professors of IIT Bombay with the mission of promoting the culture of
entrepreneurship within the campus of IIT Bombay in October, 1998. Since then, the cell has
launched several initiatives for budding entrepreneurs in IIT Bombay and other colleges across
India. E-Cell, IIT Bombay was one of the founding members of the National Entrepreneurship
Network Activities E-Cell conducts various International and National competitions as well as
events specifically for the students of IIT Bombay.

E-CELL
The Entrepreneurship Summit The Entrepreneurship Summit is the flagship event of E-Cell
which is a platform for bringing together budding entrepreneurs, venture capitalists, investors,
start-ups and other major contributors to the entrepreneurial ecosystem. This networking event
gives a chance for people to interact and help build successful ventures. The summit also
showcases the latest global trends in entrepreneurship. E-Summit in the past has been a host to
personalities like Travis Kalanick, Indra Nooyi, Arundhati Bhattacharya, Divyank Turakhia,
Amitabh Kant, Mr. Kanwal Rekhi, Muhammad Yunus, Nandan Nilekani, Tulsi Tanti, Adi
Godrej, S Ramadorai, Ronnie Screwvala, Subhash Chandra, Kishore Biyani, Ajit Balakrishnan,
Jim Beach amongst others Freelancer, Intern and Co-Founders Platform (FInCoF) The
Freelancers, Intern and Co-Founders platform is an online portal for startups from all over the
world to hire freelancers, interns or even co-founders from IIT Bombay. It is free to register and
open to all companies and start-ups from all over the world. Panel Discussions Panel discussion
on latest topics like silicon valley and Indian ecosystem, social entrepreneurship, job v/s
entrepreneurship and latest trends in entrepreneurship take place. Startup Expo Startup expo
invites most innovative start-ups from across the country. The startups reach out to thousands of
its potential customers and network with potential investors. It gives the attendees an opportunity
to learn from the success stories of these enterprises.

Eureka! Eureka! is the international Business Plan competition of IIT Bombay organized by the
Entrepreneurship Cell. The first edition of Eureka! was launched in 1999. It is regarded as Asia's
largest B-plan competition by CNN and Thomson Reuters. It holds the honour of having been
able to inspire B plan competitions across India and elsewhere.
The format of Eureka! includes one-to-one mentoring and a transparent judging process. It's a 5-
month-long educational experience, designed to emulate the process of raising funds for one's
start up, covering all the aspects right from writing a business plan to pitching it before an
investor. There are two tracks in Eureka! which run parallel to each other. The Eureka! business
track which is open for all businesses and the Eureka! social track which is only for those
startups which create or have the potential to create a tangible impact on the society. Mentor's
Meet The semi-finalists receive extensive support to improve their B-plans. Each team submits
its initial draft of their B-plan online which is then assigned a mentor, specific to its field, to help
them formalize the final business plan. Taking the mentoring process one step further, a
workshop as well as a meeting with a panel of distinguished mentors consisting of investors,
venture capitalists and experts in various fields is held in December and semi-finalists are given
mentoring on Finance, Marketing, Business Plan and Pitching. National Entrepreneurship
Challenge The National Entrepreneurship Challenge was launched in July, 2013 to help colleges
across India establish their own Entrepreneurship Cell. The competition is designed and
structured so as to help the participants step by step which would ultimately lead to formulation
of their own ECell. The participants have to do a series of tasks to spread entrepreneurial
awareness and help the startups in their campus. Entrepreneurship and Business Club The vision
of the Entrepreneurship and Business club is to create a platform of entrepreneurship enthusiasts
where students, faculty members of IIT Bombay and professionals can interact on a regular basis
for discussions brainstorming sessions, informal sessions and networking. Basic Track events are
held for enthusiasts and advanced track events for experienced students.

The Ten Minute Million (TTMM) The Ten Minute Million is an on spot funding event where
startups pitch to a panel of investors for ten minutes to get an investment of INR 1.6 million in
exchange for 4% equity. The event was started in 2014 and is organised each year during the E-
Summit ever since. Speaker Sessions Several Talks are conducted round the year spanning
different sectors from basic to advance. Sessions on introduction to entrepreneurship, school to
startup, social media marketing, idea generation, e-commerce, common mistakes the startups
make, funding for startups, legal and Intellectual Property issues are some specifics amongst
others.
Workshops
• Pre-Eureka Workshop- The extensive B-Plan making workshop held every year in August and
September.
• Venture IOT workshop - 2 day workshop to help entrepreneurs and innovators learn the
concepts of IOT to apply in real world
• Fast Track Course on Entrepreneurship which covers Basics of Entrepreneurship, Idea
generation, Business Modelling, Marketing, Finance, Funding & Pitching
• Webpreneurship - a 2-day workshop to teach the ways of utilising the web as an
entrepreneurship platform
• EnVoyage - a series of free Workshops is held across various cities of India during December
and January. In the workshops the attendees are made aware about entrepreneurship by the
means of speaker sessions and interactive games.
• Lean Entrepreneurship Workshop - workshop on Lean Startup Competitions
• Wolf of Wall Street -The event held for freshmen aims at making participants aware about the
working of Stock Market by hands on activities.
• EnB Buzz - An business idea competition conducted for freshmen
• I_Hack - a 48-hour hackathon organised during the E-Summit where developers create a
product prototype for cash prizes and incubation opportunities.

Enspace -Enspace is the biannual entrepreneurship magazine of IIT Bombay. It enjoys a huge
readership in the campus. Enspace contains stories of successful startups from IITs and beyond.
It also features several news items on trends and latest techniques. The Enspace blog keeps the
student community connected with the startup ecosystem. Idea Validation Platform It is the
platform to get your idea validated by experts. The Platform runs throughout the year. Startup
Bootcamp The Startup Bootcamp is a 10-week-long program, during which ideas are made
startup worthy with the help of an efficient team building exercise as well as extensive
mentoring.
 The selected startups are also offered incubation in SINE (Society for Innovation and
Entrepreneurship), IIT Bombay Initiatives Desai Sethi School for Entrepreneurship IIT Bombay
established an Entrepreneurship Centre at its premises, with a generous funding received from
Mr. Bharat Desai and Ms. Neerja Sethi, under the aegis of The Desai Sethi Family Foundation.
Initially named as Desai Sethi Centre for Entrepreneurship, it fosters entrepreneurship and
technology innovation through relevant courses, laboratories and partnerships. Students in the
programme receive instruction and mentorship from IIT Bombay faculty as well as distinguished
guest faculty from leading international institutions and industry. The establishment of the
Centre was announced by the Director of IIT Bombay during the inaugural session of
Entrepreneurship Summit (E-Summit 2014), which was organized by the Entrepreneurship Cell
of the Institute on 1–2 February 2014. Five years later, in December 2019, the Centre was
renamed as Desai Sethi School for Entrepreneurship. Deferred Placement Policy With the start-
up ecosystem of the institute flourishing and students being keener on taking up entrepreneurial
challenges, the Placement Cell has played its part by announcing the introduction of the
DPP(Deferred Placement Policy). This policy aims to encourage students who're looking to work
on their own start-up idea by safeguarding them against the risk of having to forgo campus
placements. According to this initiative, students interested in pursuing an entrepreneurial
activity would be given an option to defer their placements by 2 years. The need for a
DPP(Deferred Placement Policy) was envisaged due to the current trend of rising interest in
entrepreneurship, partly owing to the success of The Entrepreneurship Cell's efforts in fostering
an entrepreneurial culture within and outside the institute E-Cell .

NITK Surathkal
The Entrepreneurship Cell of NITK Surathkal aims to create, foster and promote the spirit of
entrepreneurship by helping young and talented minds pursue the path of innovation and set up
their own entrepreneurial ventures. We strongly believe in nurturing critical thinking and
business acumen by conducting workshops, speaker sessions, innovative games and competitions
as well as providing student entrepreneurs with access to resources such as seed funding,
mentoring, consultancy and networking. Startup Internship Program Startup Internship Program
is a nascent initiative of E-Cell NITK. Through SIP, we aim to provide exposure to start-up
culture by collaborating with start-ups willing to offer internship opportunities to the students of
NITK Surathkal thereby providing a platform for highly driven individuals to get relevant
experience in their desired fields and hopefully, start their own entrepreneurial journey. E-
Summit The annual Entrepreneurship Summit is the flagship event of E-Cell NITK. Essentially a
celebration of the entrepreneurial spirit, it is a multi-faceted event that encompasses talks by
eminent entrepreneurs, business workshops, a case study competition, a business quiz and a
pitching event where startups are given the chance to interact and connect with investors and
mentors.

Listen to Some Success Stories:

1. Motivational Speech by Paytm's Vijay Shekhar Sharma at Amity University Gurgaon
2. Inspirational speech by Sunil Bharti Mittal at Amity University Gurgaon
3. https://yourstory.com/mystory/top-10-young-indian-entrepreneurs-2019
 4. Hike Messenger Founder, Kavin Mittal On How To Become An Entrepreneur | Mind Rocks
2017
5. Kunal Shah, Founder & Chairman, FreeCharge|| New Rules of Business 2.0||
6. Startup Secrets of Seasoned Founders Revealed - Matrix India
7. Building Ninjacart was inventing the wheel for fresh produce ecommerce, says Co-founder
Thiru
8. The making of India’s fastest unicorn Udaan
9. Ashish Hemrajani, CEO, Bookmyshow at Tech Sparks 2016

Entrepreneurs from Karnataka

• G. R. Gopinath - founder of Deccan Aviation and Deccan 360.
• Kiran Mazumdar - founder of Biocon, a biotechnology company.
• N. R. Narayana Murthy - founder of Infosys.
• Nandan Nilekani - Co founder of Infosys.
• V. G. Siddhartha - founder of Café Coffee Day.
• K Prakash Shetty - Founder and Chairman of MRG Group.

India has produced many entrepreneurs who mastered their line of business and became very
successful. Let’s see the list of top most successful entrepreneurs of India who are as follows:
1.DHIRUBHAI AMBANI-RELIANCE

Dhirubhai Ambani also known to call as Dhirajlal Hirachand Ambani (28 December 1932 – 6
July 2002) was the founder of Reliance industries in Mumbai (1966) and now his sons
Mr.Mukesh Ambani and Mr. Anil Ambani are chairman and MD of Reliance Industries.
Reliance Industries Limited is an Indian conglomerate holding company headquartered
in Mumbai, Maharashtra, India. Reliance owns their businesses across India engaged in
(Mukesh) telecommunications, energy, natural resources, petrochemicals, retail and textiles
business and (Anil) took over the reins of Reliance Group with interests
in Telecom, Entertainment, Financial, Power and Infrastructure. Reliance is the second most
profitable company in India and the second-largest publicly traded company in India by market
capitalization. The second largest company in India as measured by revenue after the
government-controlled Indian and company is ranked 114th on the Fortune Global 500 list of the
world’s biggest corporations, as of 2014.It contributes approximately 20% of India’s total
exports and ranked 14th among the Top 250 Global Energy Companies by Platts.

2. RATAN TATA-TATA GROUPS

Ratan N Tata was the Chairman of Tata Sons and holding company of the Tata group, from 1991
till his retirement on December 28, 2012. He was also chairman of the major Tata companies,
including Tata Steel, Tata Global Beverages, Tata Teleservices, Tata Consultancy Services, Tata
Motors, Tata Power, Tata Chemicals and Indian Hotels. During his tenure, the group’s revenues
grew manifold that totalling over $100 billion in 2011-12.Many Tata companies have achieved
global leadership in their businesses. For instance, Tata Communications is no one international
wholesale voice provider and Tata Steel is among the top fifteen best steelmakers. Tata Motors is
among the top ten commercial vehicle manufacturers in the world.TCS is the second largest IT
services company in the world by market cap and profit and Tata Global Beverages is the
second-largest tea company in the world .Tata Chemicals is the world’s second-largest
manufacturer of soda ash.

3. NARAYANA MURTHY-INFOSYS

Narayana Murthy founder of Infosys on 1981, a global software consulting company

headquartered in Bangalore, He served as the CEO of Infosys during 1981 – 2002, as the
Chairman and Chief Mentor during 1981 – 2011, As the Chairman Emeritus during August 2011
– May 2013. Under his leadership, Infosys was listed on NASDAQ in 1999.He was listed among
the 12th greatest entrepreneurs of our time by the Fortune magazine in 2012. The Economist
ranked him among the 10 most-admired global business leaders in 2005.He is ranked among the
top 10 of the Financial Times’ list of “Business pioneers in technology”, published in March
2015. In 2014 and he was ranked 13thamong CNBC’s 25 global business leaders who have made
maximum impact on society during the last 25 years. He is the first Indian winner of Ernst and
Young’s World Entrepreneur of the Year award and also he has received the Max Schmidheiny
Liberty prize. He has appeared in the rankings of businessmen and innovators published
by Business Week, Time, CNN, Fortune, Forbes, Financial Times and India Today.

4.AZIM H. PREMJI-WIPRO

Muhammed Hashim Premji incorporated Western Indian Vegetable Products Ltd in 1945 in the
district of Maharashtra. It used to manufacture cooking oil under the brand name Sunflower
Vanaspati, and a laundry soap called 787, a by-product of oil manufacture and since 1966 after
his death Azimpremji (24 July 1945 ) is a graduate in Electrical Engineering from Stanford
University, USA has been take charge Wipro Limited. He was diversified $2 million
hydrogenated cooking fat company into close to $ 8 billion Revenue IT, BPO and R&D Services
organization with a presence in 58 countries that it is today. The overall Wipro group revenues
are $ 9 billion. Wipro Ltd is a global information technology, consulting and outsourcing
company with 170,000 plus workforce serving clients in 175 plus cities across 6 continents and
the company posted revenues of $7.7 Billion for the financial year ended Mar 31, 2016.Premji
has been recognised by Business Week as one of the Greatest Entrepreneursfor being responsible
for Wipro emerging as one of the world’s fastest growing companies.

5.Lakshmi Mittal-ARCELOR

Lakshmi Mittal, once India’s richest person, slipped in the rankings as his ArcelorMittal and the
world’s biggest steelmaker and got hit by falling steel prices due to a global supply glut caused
by rising exports from China. The Company said the loss was partly due to write-offs in its iron
ore mining business. Arcelor sold its 35% stake in Spanish auto parts maker Gestamp for $1
billion in a bid to reduce its $15.7 billion debt. Its revenues fell 20% to $64 billion in 2015 and it
reported a net loss of $7.9 billion, a seven-fold rise over the previous year .It also proposes to
raise $3 billion to boost its capital. But Mittal, who has been not worried about his home country,
is reportedly rethinking plans to build a new steel factory in South India.
6. DR. VERGHESE KURIEN-AMUL

He was the founder-chairman of the GCMMF for more than 30 years (1973–2006), is credited
with the success of Amul. It is an Indian dairy cooperative, based at Anand in the state
of Gujarat, India and itsFormed in 1946.It is a brand managed by a cooperative body and the
Gujarat Co-operative Milk Marketing Federation Ltd. (GCMMF), which today is jointly owned
by 3.6 million milk producers in Gujarat. The cooperative was further developed and managed
by Dr.Verghese Kurien with H.M. Dalaya. Dalaya’s innovation of making skim milk powder
from buffalo milk (for the first time in the world) and a little later, with Kurien’s help, making it
on a commercial scale.

7.ANAND MAHINDRA-MAHINDRA GROUP

Anand Mahindra (born 1 May 1955) is the chairman and managing director of Mahindra
Group. His grandfather JC Mahindra co-founded the company in Mumbai, India. Founded as a
steel trading company, the Group today has a presence in multiple sectors from agribusiness to
aerospace. He is included by Fortune Magazine among the ‘World’s 50 Greatest Leaders’ and
featured in the magazine’s 2011 listing of Asia’s 25 most powerful business people. Anand has
also been noted by Forbes (India) as their ‘Entrepreneur of the Year’ for 2013 and Sustainable
Development Leadership Award for The Energy and Resources Institute (TERI) in the year of
2014.

8.SHIVA NADAR-HCL

Shiv Nadar was born in 1945, in Tiruchendur, Tamil Nadu and he started his career at Walchand
Group’s Cooper Engineering in Pune in 1967. He started HCL later in 1976 with an initial
investment of Rs. 187,000 from six founders.In 1980 Shiv Nadar entered into the international
market with commencement of his Far East Computers in Singapore to sell IT hardware.In 1984
Shiv Nadar also started with development of Personal Computer solutions called Busybee and
UNIX platform based solutions. In the IT hardware business, his company started with an
auxiliary called HCL office automation which became India’s leader in office solutions. By
1987, HCL earned a revenue of 100 crores and was ranked as India’s no.1 companyBy early
1998, Nadar had amalgamated his business into five companies – HCL Technologies, HCL
Infosystems, HCL Comnet, HCL Perot and NIIT.HCL technologies were made public by Nadar
in 1999, at the time of Initial Public Offering, HCL was the second largest IT Company.

9.JAMNALAL BAJAJ AND RAHUL BAJAJ-BAJAJ AUTO

The Bajaj Group is amongst the top 10 business houses in India and its footprint stretches over a
wide range of industries, spanning automobiles like two-wheelers and three-wheelers, home
appliances, iron and steel, lighting, insurance, finance and travel. The group’s flagship company,
it is ranked as the world’s fourth largest two- and three- wheeler manufacturer and the Bajaj
brand is well-known across several countries. Jamnalal Bajaj, who was the founder of the group,
was a close confidant and disciple of Mahatma Gandhi. His son, Kamalnayan Bajaj, then 27,
took over the reigns of business in 1942. He too was close to Gandhiji and it was only after
Independence in 1947, that he was able to give his full attention to the business. Kamalnayan
Bajaj not only consolidated the group, but also diversified into various manufacturing activities.
The present Chairman of the group, Rahul Bajaj, took charge of the business in 1965. Under his
leadership, the turnover of the Bajaj Auto the flagship company has gone up from INR.72
million to INR. 120 billion, its product portfolio has expanded and the brand has found a global
market. He is one of India’s most distinguished business leaders and internationally respected for
his business acumen and entrepreneurial spirit.

10. SUNIL MITTAL-BHARATHI ENTERPRISES

Sunil Bharti Mittal is the Founder and Chairman of Bharti Enterprises which has interests in
telecom, retail, realty, financial services, agri-products and renewable energy. Bharti Airtel group
of company is the world’s third largest global telecommunications company by customer base
with over 300 million customers across South Asia and Africa. Sunil is a recipient of the Padma
Bhushan, one of India’s highest civilian awards and also been awarded the INSEAD Business
Leader for the World Award 2011 and the NDTV Profit Business Leadership Award 2011 for
“Corporate Conscience”. Earlier he received the Global Economy Prize 2009 by The Kiel
Institute at Germany and the US-India Business Council also honoured him with the ‘Global
Vision’ Award 2008. He has received the GSM Association Chairman’s Award for 2008 and
also a member of the Academy of Distinguished Entrepreneurs, Babson College, and Wellesley,
Massachusetts. He was ranked among the Top 25 Philanthropists in the World in 2009 by the
Barron’s Magazine.

TOP 10 ENTREPRENEURS OF 2019

Ritesh Agarwal
Ritesh Agarwal’s (Young Indian Entrepreneur) entrepreneurial journey is one of the most
successful entrepreneur stories in India. After dropping out of college, he launched his first start-
up Oravel Stays, which was a budget hotel chain that provided B&B. And that elevated to OYO
rooms from when he realized no other service offered a room for a budget traveler. Begun with
only 11 rooms in a Gurgaon hotel, OYO rooms is now a hub for elite hotel stays with 65000
rooms in about 5500 properties across India.
Trishneet Arora
At the age of 25, Trishneet Arora (Young Indian Entrepreneur) is an author, a self-described
friendly hacker and the founder and CEO of cyber security startup TAC Security Solutions. The
India-based company performs Vulnerability Assessment and Penetration Testing for corporates
identifying weaknesses in their cyber security. He has received funding from angel investor
Vijay Kedia and support from former VP of IBM, William May. In 2017, Arora was listed
among the 50 Most Influential Young Indians by GQ Magazine, while August 25, 2017 was
proclaimed “Trishneet Arora Day”, by the Mayor of Santa Fe, New Mexico.
Sreelakshmi Suresh
A name to remember, Sreelakshmi Suresh (Young Indian Entrepreneur), the youngest web
designer and CEO in the world has many accolades to her name. A recipient of many national
and international awards, she started climbing the success ladder at the mere age of 10, when she
established eDesign — a venture which is now a web designing company that offers SEO, web
design, and other web — related services. Sreelakshmi has developed over 100 websites for
renowned institutions and organizations across India!
Akhilendra Sahu
At the age of 17, Akhilendra Sahu (Young Indian Entrepreneur) is the Founder & CEO of
ASTNT Technologies Pvt Ltd . & Technical Next Technologies . ASTNT India based company
provide digital marketing , website development , app development seo like services , Technical
Next Technologies Provide best webhosting solution india.& Akhilendra have many sub brands ,
apps published on google play store .Akhilendra ranked no.1 web designer in madhya pradesh
india.

King Siddharth
King Sidharth (Young Indian Entrepreneur), is regarded as an enthusiastic young entrepreneur in
India. He is popular for his designs, philosophy and is a regular speaker across various college
events. Entrepreneurs somewhat find it hard to fit in a monotonous world, not willing to walk on
the norms set by the society. Life of King Sidharth reflects such principles, a drop-out by choice
but never did he stop his learning curve. While studying in school, as a 11-year-old-kid, King
Sidharth was creative and overall confident about his interests. He started organizing events in
his locality, they also made tickets for the attendees.
Kavita Shukla
The R&D for Kavita Shukla’s (Young Indian Entrepreneur) company, Fenugreen, cost little
more than a kid’s science project — which, in fact, it was. At age 12, Shukla visited India, where
a cup of her grandmother’s homebrewed spice tea seemed to help her stave off the ill effects of
accidentally drinking tap water. Returning home to Maryland, she spent several years trying to
re-create that benefit, mixing kitchen spices in jars of pond water and then applying them to
produce.
Shravan and Sanjay Kumaran
Shravan and Sanjay (Young Indian Entrepreneur), siblings aged 17 and 15 respectively are the
youngest upcoming entrepreneurs of India. Together, they are the brain behind GoDimensions.
The aim of the company is to develop a simple technological solution for the digital world. They
are the youngest Mobile Application Developers in India. When asked about how they managed
to achieve this feat, the brothers responded by saying “reading books and solving the problems
given to them”. These two develop applications for both, Android as well as IOS platforms. Sign
up for our exclusive newsletters. Subscribe to check out our popular newsletters.
Tilak Mehta
Meet Tilak Mehta (Young Indian Entrepreneur), a 13-year-old boy, who launched his company
Papers N Parcels in 2018, to ease courier services in Mumbai. Known as “Papers N Parcels“, his
startup is dedicated to carrying small parcels and papers within Mumbai for an assured intra-day
delivery. Tilak Mehta is like any other Mumbai teenager. The 13-year-old attends a suburban
school studying in Class VIII, and rues about his father coming home from work late and tired.
But the similarities stop there. Tilak is a budding entrepreneur who has founded a logistics start-
up, sold the idea to a banker and convinced him to quit the job and join him as the Chief
Executive, and also roped in the famed Dabbawalas to help him with the last-mile distribution.
Arjun Rai
At the age where most of the boy’s attitude towards life is erratic and unplanned, Arjun Rai
(Young Indian Entrepreneur) on the flipside was more determined and focused. When kids of his
age were busy playing video games, he organized a garage sale and got his first earning, which
in itself talks in volumes about his perspective towards life. Not all kids have the passion for
doing different things when others listen to their elders some have the courage to think beyond
the usual and show the world their potential to rise.
Advait Thakur
Advait (Young Indian Entrepreneur)16-year-old Indian tech prodigy, who started using
computers at age six, launched his first website at age nine, and has been working with Google’s
AI and Cloud Platform for a couple of years now. Advait Thakur is an Indian computer
programmer and Teenage Internet entrepreneur. He is the founder of Apex Infosys India , and is
currently its chief executive officer. He is Google, Bing and Hubspot Certified Professional.
Ranked 4th in Wikia’s Young Entrepreneurs Under 20 list of 2017, Advait is in a different
league from the average pre-teen. In 2015, at age twelve, he founded a tech company ‘Apex
Infosys India’ which is now an Accredited Domain Name Registrar and an organisation that
provides Digital Solutions. Apex Infosys India is also involved primarily in Artificial
Intelligence, Machine Learning & IOT Sector.

Inspiring Women Entrepreneurs In Bangalore You Must Know About!

Bangalore ranks 40th amongst the top 50 Global cities for women entrepreneurs. So, here are 4
highly successful women entrepreneurs in Bangalore and their wonderful success stories.
Women entrepreneurship is on the rise in India with nearly 14% of the business
establishments in the country being run by women. The rising number of women entrepreneurs
in Bangalore, Chennai, Gurgaon, Kochi and several other cities bear witness to these changing
trends.

Shubhra Chadda, Chumbak

An avid traveler and former marketer at NetApp, Shubhra Chadda always toyed with the idea of
turning into an entrepreneur someday. Often, she brought home souvenirs that happened to be
mostly fridge magnets, from the places she visited. Evaluating her collection of souvenirs one
day, she realized, there was no India-centric magnet. That’s how the idea of ‘Chumbak’ came up.
However, being quite young at that time and pursuing a corporate career, she decided to pursue it
sometime later.
While on her maternity break, her husband pushed her to work on this idea and she decided to
take it up. Being a complete novice in the field of retail and design, she had to start from scratch
and it took her a year to understand the industry. To fund Chumbak, she even sold her house for
Rs. 40 Lakh. On March 2010, she shipped her first order. Her first range of products included
magnets, keychains and cushion covers. The response she received to her work was
overwhelming and over the years, Chumbak has evolved into a lifestyle brand. She now has
Chumbak flagship stores in Bengaluru and Delhi and 35 pop-up stores across India.

Kiran Mazumdar Shaw, Biocon

The Chairman and Managing Director of India’s largest biotechnology company – Biocon
Limited, Kiran Mazumdar Shah pursued her graduation in zoology and biology from Bangalore
University, aiming admission into a medical college. However, she couldn’t get a scholarship.
With not many options in hand, she decided to study fermentation science on her father’s
suggestion and train to become a brewmaster. She studied Malting and Brewing from Ballarat
College of Advanced Education in Australia and was the only woman who had enrolled for this
course. After earning the degree of Master Brewer, she worked as a trainee Maltster and brewer
in few firms in Australia. As there were no options for a woman to be a Master Brewer in India,
she started exploring for jobs abroad and was offered a position in Scotland.
Just before moving to Scotland, she met Leslie Auchincloss – founder of Biocon Biochemicals
Limited, who was looking for an Indian Entrepreneur for establishing a subsidiary in India. And
that marked the beginning of Kiran’s entrepreneurial journey. She worked briefly as a Trainee
Manager at Biocon Biochemicals Limited, of Cork, Ireland to understand the business details.
Later, she started Biocon India in 1978, with a capital of Rs 10,000 from the garage of her rented
house. Due to the untested business model, her gender, lack of credibility, she faced many
challenges in the beginning. In fact, her first employee was a retired garage mechanic.
However, her efforts paid off as Biocon became the first company in India to be able to
manufacture enzymes, and export them to United States and Europe within an year of its
inception. Now, she is a billionaire entrepreneur and her company has evolved as a leading
player in biomedicine research with a focus on diabetes and oncology.
She is the founder Chairman and Managing Director (CMD) of Biocon Limited. Born in Bangalore,
Shaw completed her Bachelors in Zoology from Mount Carmel College, Bangalore University. She
later did her post-graduation in Malting and Brewing from Ballarat College, Melbourne University.
She worked as a trainee brewer in Carlton and United Breweries, Melbourne and as a trainee maltster
at Barrett Brothers and Burston, Australia. She started Biocon in 1978 and spearheaded its evolution
from an industrial enzymes manufacturing company to a fully integrated bio-pharmaceutical
company. Today Biocon under Shaw’s leadership has established itself as a leading player in
biomedicine research with a focus on diabetes and oncology. Kiran is also a member of the board of
governors of the prestigious Indian School of Business and Indian Institute of Technology
Hyderabad. Kiran received the prestigious Padma Shri (1989) and the Padma Bhushan (2005) from
the government of India

Rashmi Daga, Freshmenu

Rashmi Daga, founder and CEO at FreshMenu, is another successful name among women
entrepreneurs in Bangalore. An IIM Ahmedabad alumnus, she had worked across a wide range
of companies, including IBM India, Johnson & Johnson Medical, TutorVista, BlueStone and
Ola. In 2014, she decided to quit her high profile job and become a food entrepreneur. The
immense opportunity in the food industry and her own love for food made her choose it as her
business arena. Before FreshMenu, she had also started an online curated art marketplace
afday.com in 2011 but it was shut down a year later. Starting with a single kitchen setup in 2014,
Freshmenu has now more than 25 fully functional kitchens across 4 cities in India, and is being
backed by the biggest investors. Rather than having a central kitchen, Freshmenu has multiple
satellite kitchens, each serving the area within its 5 kilometres. It has raised around Rs.72
crore in FY17 and aims at doubling its revenue in the coming years.
Richa Kar
Richa Kar, Co-founder, Zivame, is amongst the most influential women entrepreneurs in
Bangalore. An MBA and an IT graduate, she gained considerable understanding of the retail
market while working for a few years with Spencers and SAP retail consulting. During her
research on the lingerie market in India, she came across the fact that approximately 80% of
women still wear wrong sized bras. Further, most women felt shy to speak about their
preferences when it comes to the lingerie selection. To make the lingerie shopping an easy and
enjoyable experience for women, she came up with the idea of Zivame. However, convincing her
family and friends to start this business was one of her biggest challenges. Another challenge
was the category of her business as a lot of people feel uneasy while discussing innerwear.
Nevertheless, within a few months of the launch of her business in 2011, she was ready with all
the answers. Now, Zivame is a prominent online brand with a revenue of over 250 crores.
Richa is the founder of online lingerie store Zivame , she grew up in Jamshedpur and completed
her engineering from BITS Pilani (2002) and after having worked briefly in the IT industry she
acquired Masters’ degree from Narsee Monji Institute of Management Studies in 2007, and
worked with a retailer and global technology company before starting Zivame.com. Zivame is
probably the first in the online lingerie space in India and has played a role in educating women
across the country about intimate wear and shaping consumer behaviour.

Indu Jain

Indu Jain belongs to the Sahu Jain family and is the current chairperson of India’s largest media
group, Bennett, Coleman & Co. Ltd., which owns the Times of India and other large newspapers.
She is widowed with two sons. Indu Jain is known by many different identities such as that of a
spiritualist, humanist, entrepreneur, an aficionado of culture and the arts, an educationalist but
her most prominent and eminent role has been that of Chairman. Ms Jain was awarded the
Padma Bhushan by the Government Of India in January 2016 .She is also the guiding force
behind The Oneness Forum, formally launched by the President of India in 2003. The Forum
recently awarded the Mahatma-Mahavira Awards to outstanding individuals from all of walks of
life and is involved in several activities that seek to bring, and highlight, a sense of Oneness in
the world.

Indra Nooyi

The most well-known face amongst Indian women entrepreneurs -Indra Nooyi is the CFO and
President of PepsiCo. With a Masters Degree in Public Management from Yale University and
Masters in Finance and Marketing from IIM, Kolkata, Nooyi held several senior positions at
Motorola and Asea Brown Boveri before joining PepsiCo. Born in Chennai, Indra did her
Bachelor’s in Science from Madras Christian College in 1974 . Beginning her career in India,
Nooyi held product manager positions at Johnson & Johnson and textile firm Mettur Beardsell.
Nooyi joined PepsiCo in 1994 and was named president and CFO in 2001.She has been
conferred with prestigious Padma Bhushan for her business achievements and being an
inspiration to India’s corporate leadership. Her strong acumen for business has helped the
company garner as much as 30 billion dollars worth of crucial deals within the last couple of
years.

Vandana Luthra

VLCC, a beauty and wellness giant has it’s presence in 11 countries across Asia, Africa and the
GCC (Gulf Cooperation Council) and the credit goes to Vandana Luthra. Initially, a homemaker,
Vandana started her journey in 1989 when the first of her two daughters was only 3 years-old.
Born in Kolkata, West Bengal, this beauty expert got herself well versed with beauty, fitness,
food and nutrition and skin care when she pursued higher education in Germany, UK and France,
after completing a professional course from the Polytechnic for Women in New Delhi. She was
awarded the Padma Shri in 2013 for her contribution. and in 2015, she was listed as the 33rd
most powerful woman in business in India by Fortune India.
Naina Lal Kidwai

Naina has a Bachelor’s degree in Economics from Delhi university and an MBA from Harvard
Business school. In fact, Kidwai was the first Indian woman to graduate from Harvard Business
School. From being Head of Investment Banking at ANZ Grindlays during 1982-1994 to Vice
Chairman JM Morgan Stanley, Naina Lal Kidwai is one of the most successful and famous
Indian businesswomen of today. She is currently Country Head and Group General Manager
HSBC Group India. Apart from working at HSBC, Kidwai has also held other eminent positions
such as that of Global Advisor, Harvard Business School, non-executive director at Nestle SA
and as a member of Governing Board NCAER, Auditor General of India and several other
positions. Indian government conferred Padma Shri award on Naina for her contributions in the
field of Trade and Industry.

Chanda Kochar

She is currently the MD & CEO of india’s largest private bank ICICI Bank. Rajasthan born
chanda got Masters Degree in Management Studies from Jamnalal Bajaj Institute of
Management Studies, Mumbai. She received the Wockhardt Gold Medal for Excellence in
Management Studies as well as the J. N. Bose Gold Medal in Cost Accountancy. Chanda
Kochhar is married to Deepak Kochhar, a wind energy entrepreneur and her Business
schoolmate. Under Kochhar’s leadership, ICICI Bank won the “Best Retail Bank in India” award
in 2001, 2003, 2004 and 2005 and “Excellence in Retail Banking Award” in 2002; both awards
were given by The Asian Banker. Kochhar personally was awarded “Retail Banker of the Year
2004 (Asia-Pacific region)” by the Asian Banker, “Business Woman of the Year 2005” by The
Economic Times and “Rising Star Award” for Global Awards 2006 by Retail Banker
International.

Ekta Kapoor

The woman who changed the face of Indian television – Love them or hate them, you just cannot
ignore Balaji serials and Ekta Kapoor is the woman who single-handedly founded and made
Balaji Telefilms the household name it is today. This baby-faced teenager, who once dreamed of
marrying and settling down just like any other woman in India, is the creative head of Balaji
Telefilms and counted as one of the top 10 women entrepreneurs of today. Her production house
has many hit serials to its credit – ‘Kyunki Saas Bhi Kabhi Bahu Thi’, ‘Kahani Ghar Ghar Ki’
and many others, making her the Queen Bee of the Indian soap opera scene. She has won the
Hall of Fame award at the 6th Indian Telly Awards during 2006 for her contribution to the Indian
television industry. Known to be fiercely protective of her company and brand, Ekta is also very
professional and has strong business acumen.

Suchi Mukherjee

Limeroad was started in 2012 by Suchi along with Manish Saksena, Ankush Mehra and Prashant
Malik. The company has raised a funding of $20 Million from Lightspeed venture partners,
Matrix partners and Tiger Global. Suchi post graduated from London School of Economics and
graduated from St. Stephen’s College, Delhi. In his life Suchi received many awards and
recognition like K.C. Nag Economics Prize for best student in Economics, George K. George
Memorial Scholarship for overall contribution, all at St. Stephen’s College, Delhi University,
Cambridge Commonwealth Trust, Scholarship & Fellowship, and Chadburn Scholarship for
merit, both at Cambridge University and British Chevening Scholarship, at the London School of
Economics. Suchi was selected as 1 of 15 women worldwide ‘Rising Talents, high potential
leaders under 40. Suchi is an ex-ebay, Skype and Gumtree.

Aditi Gupta

One the most common taboos is Menstruation, but with time, it is getting the attention that is
needed for the society to accept the fact and talk openly about it. One such initiative has been
taken by Aditi Gupta. In 2012, she co-founded Menstrupedia with Tuhin Paul, a crowdfunded
initiative. The company provides a resourceful guide about menstruation which helps women to
stay healthy and active during their menstruation. Aditi is a post-graduate in New Media Design
from National Institute of Design, and graduated in Electronics and Instrumentation Engineering.
Aditi first got the idea for Menstrupedia while doing her thesis on the very subject for her post
graduation at NID (National Institute of Design).Aditi was born and brought up in Garhwa, a
small town in Jharkhand.
Common Characteristics of Successful Entrepreneurs:
Success in entrepreneurship isn’t just about your idea or your money. Plenty of people have
interesting ideas or a lot of cash to throw around — and they never quite manage to find success
in their ventures.
1. Self-Motivation- One of the most important traits of entrepreneurs is self-motivation. When
you want to succeed, you need to be able to push yourself. You aren’t answerable to anyone else
as an entrepreneur, and that sometimes means that it’s hard to get moving without anyone to
make you. You need to be dedicated to your plan and keep moving forward — even if you aren’t
receiving an immediate pay check.
2. Understand What You Offer -As an entrepreneur, you need to know what you offer, and
how it fits into the market. Whether it’s a product or a service, you need to know where you fit
in. That means you need to know when it’s time to tweak things a little bit. This also includes
knowing whether you are high end, middle of the road or bargain. Being able to position yourself
and then adjust as needed is an important part of entrepreneurship.
3. Take Risks -Successful entrepreneurs know that sometimes it’s important to take risks.
Playing it safe almost never leads to success as a business owner. It’s not about taking just any
risk, though. Understanding calculated risks that are more likely to pay off is an important part of
being an entrepreneur. You’ll need to be willing to take a few risks to succeed.
4. Know How to Network -Knowing how to network is an important part of entrepreneurship.
Sometimes who you know is an important part of success. Being able to connect with others and
recognize partnership opportunities can take you a long way as a business owner. Figure out
where to go for networking opportunities and make it a point to learn how to be effective.
5. Basic Money Management Skills and Knowledge -We often think of successful
entrepreneurs as “big picture” people who don’t worry so much about managing the day to day.
And it’s true that you might have an accountant or other team members to help you manage the
business. However, if you want to be successful, you should still have basic money management
skills and knowledge. Understand how money works so that you know where you stand, and so
that you run your business on sound principles.
6. Flexibility -To a certain degree, you need to be flexible as an entrepreneur. Be willing to
change as needed. Stay on top of your industry and be ready to adopt changes in processes and
product as they are needed. Sometimes, you also need flexibility in your thinking. This is an
essential part of problem-solving. You want to be able find unique and effective solutions to
issues.
7. Passion- Finally, successful entrepreneurs are passionate. They feel deeply about their product
or service or mission. Passion is what will help you find motivation when you are discouraged
and it will drive your forward. Passion is fuel for successful entrepreneurship. If you find
yourself losing your passion that might be the clue that it’s time to move on to something else
(that stokes your passion). There are many serial entrepreneurs that create successful businesses,
sell them, and then create something else. As you consider your characteristics, think about how
to better develop them to help you become a better entrepreneur.

Different types of Entrepreneurial styles

1. Laissez-Faire
This style of leadership involves giving a lot of freedom to team members in terms of how they do
their work and set their deadlines. Feedback and advice is given only when needed. This style
provides for a lot of autonomy and also can lead to high levels of job satisfaction among
employees. On the flip side, if the team is not able to manage their time well or is not self
motivated to get the work done, the overall production will be greatly affected. It works best if the
team members are highly trained, well skilled and individually responsible in their approach to
work.

2. Autocratic

Autocratic leaders are the ones who make decisions without consulting their teams. This style of
leadership gives complete power to the leader to decide and impose decisions on the rest of the
team. This unidirectional approach can have a demoralizing effect on the team members. It
however works well when decisions need to be made quickly and the team input is not a
necessary factor for a successful outcome.

3. Transactional

This style leadership relies on setting tasks by the management and the team together. The
management rewards those who complete the tasks and ‘punishes’ those who fall short. This style
provides lot clarity to team members about what is expected of them and works well for an
incentive-driven environment. The downside is that it can seem amoral at times and may not go
well where knowledge-based or creative work is required.

4. Democratic -Also known as Participative style of leadership, a leader following this style
values inputs from the team members and involves them in the decision making process. Though
the final decision is made by the leader, the process of inclusive decision making results in team
members feeling that their opinions matter. This style encourages creativity, and people are often
highly engaged in projects and decisions. However, this leadership style does not work when
quick decisions need to made, usually during times of crisis.

5. Pacesetting

The Pacesetting style sets a high standard of performance, both for the leader and the team. Here,
the leader leads by example, is a stickler for doing things faster and better, and expects the same
from the team members. It works great when the team is already motivated and skilled. It is better
to use this style only when required as it can overwhelm team members and reduce the morale of
those who can’t keep up with the pace.
6. Transformational

It is considered to be one of the best leadership styles. A transformational leader has a shared
vision of the future and uses effective communication as a tool to reach out to his team. This
leader inspires his team and expects the best from everyone while showing accountability. Some
of the qualities of such a leader include being self aware, empathetic and humble. The result is
high productivity and engagement.
PERSONALITY TRAITS OF ENTREPRENEURSHIP

Being an entrepreneur requires much more than big ideas. A true entrepreneur possesses a
unique cocktail of skills and characteristics that enable them to beat the odds and go after
their dreams full throttle. But what are those attributes? What does an entrepreneur need to
succeed? It would be nice to have a handbook to tell us whether or not we have the ‘E
factor’ that makes a great entrepreneur. But the truth is, there’s no discernible formula for
success, but there are a few traits that successful entrepreneurs tend to have. Some people
may be born with the traits, but those who are not can often develop them. Here are some
of the personal characteristics that successful entrepreneurs have, with tips along the way
to help you develop them.

Entrepreneurs are goal-oriented

Entrepreneurs are all about setting goals and putting everything they have into achieving
them. They’re determined to make their business succeed and will remove any obstacles
that stand in their way. They also tend to be strategic in their game plans and have a clear
idea of what they want to achieve and how they plan to do it.

How to become goal-oriented:

• Create short and long term goals for your business. Short-term goals are those you can
complete in an hour, a day, or as long as a week. Long-term goals might take you a year
or longer.
• Whenever you have a choice to make about what to focus on, choose the thing that will
help you make the most progress toward one of your goals.
Entrepreneurs are committed to their business

Entrepreneurs are not easily defeated. In fact, they view failure as an opportunity for future
success. If they don’t succeed the first time, they’ll continue to try until they do. Most
entrepreneurs don’t take ‘no’ for an answer.

How to remain committed:

 • Each time you run up against an obstacle, rather than thinking that your idea won’t work
or that you’ve failed, think about what you can learn from the experience.
• Figure out another way to reach your goal from where you are.
• Remember that many successful entrepreneurs fail several times before they succeed.
Entrepreneurs are hands-on

Entrepreneurs are inherently proactive and know that if something needs to get done, they
should do it themselves. They are ‘doers’ and tend to have very exacting standards. They
view their business as an extension of themselves and like to be present in day-to-day
operations – even when they don’t have to be.

How to stay hands-on: Having a business that grows to the point where you can’t do
everything yourself is a good problem to have. But it’s still important to know how things
are being done. Consider:

• Spending some time with each of your key people at least once a month to make sure you
know how they’re doing their work.
• Filling in for people when they go on vacation just to keep your hand in it.
Entrepreneurs thrive on uncertainty

Not only do entrepreneurs thrive on facing new challenges, they remain calm in the face of
those challenges. Sometimes things go wrong in business, and when they do, it’s your job
as the head of the company to keep your cool. Successful entrepreneurs know this and
flourish in the wake of a challenge.

How to thrive on uncertainty: Manage uncertainty in three steps.

• When the unexpected happens, stop and take a deep breath.

• Think about how you can solve the problem, and how you can learn from it.
• Remember your goals. How can you continue to move toward them despite this
uncertainty?
Entrepreneurs continuously look for opportunities to improve

Entrepreneurs view every event or situation as a business opportunity, and they’re

constantly generating new and innovative ideas. They have the ability to look at everything
around them through the lens of their goals, seeing opportunity everywhere.

How to continuously improve: Outside-the-box thinking doesn’t come naturally to everyone,

but you can practice it.
 • Each time you do something – whether it’s ordering supplies, making a sales call, or
creating a new product – ask yourself if there’s a way you could do it better.
• If you have employees, reward them for making suggestions that lead to improvement.
Entrepreneurs are willing to take risks

Most entrepreneurs don’t ask themselves whether or not they will succeed – they believe
they will. This innate confidence allows them to take risks because they firmly believe
those risks will pay off.

How to practice taking risks:

• When deciding whether or not to take a risk, ask yourself, “What is the worst thing that
could happen?” and then, “How likely is it that the worst thing will happen?” The
answers to these two questions can inform your decision.
• If the worst possible outcome is not really that bad, or is extremely unlikely, it’s probably
a risk worth taking.
Entrepreneurs are willing to listen and learn

The most important part of learning is listening – and a good entrepreneur will do this in
abundance. They also know that they can learn something new from just about everyone
they meet, so they don’t hesitate to ask questions.

How to listen and learn:

• When talking to people about your business, make sure you’re asking more questions
than you’re answering.
• You should be trying to learn something from every interaction, whether it’s with a
customer, a supplier, an employee, or someone you just met.
Entrepreneurs have great people skills

Entrepreneurs tend to have strong communication skills, and this strength, combined with
their passion for their product or service, helps them to talk to anyone and everyone about
their business. They’re also natural leaders who can motivate, inspire, and influence those
around them.

How to develop people skills: This is another skill that many people think you need to be
born with, but it can be learned.

• Start by making an effort to strike up a conversation with someone you don’t know.
• Ask open-ended questions.
• Continue the discussion based on their answers to you questions.
 • As long as you’re asking more questions than you’re answering, you’ll likely keep their
interest.
Entrepreneurs are inherently creative

This is one trait that, due to their nature, entrepreneurs tend to have in abundance. They can
come up with ingenious ideas and also have the ability to turn those ideas into profits.

How to harness your creativity: People who don’t consider themselves creative can
sometimes be intimidated by those whose creativity is apparent. But this trait can also be
built by practice.

• When faced with a problem, start by writing down every possible solution.
• Make it a point to include solutions you think will never work – the more outlandish the
better.
• The one you settle on probably won’t be one of these, but it will get you into the habit of
considering every possible scenario.
Entrepreneurs are passionate and positive

Passion may be the most important trait of the successful entrepreneur. They genuinely
love what they do and are willing to put in the extra hours to make their business grow.
They get a sense of satisfaction from their work that goes beyond making money.

How to be passionate and positive:

• Choose a product or service that you’re genuinely interested in.

• You must be convinced that your business solves a real need in a way that will improve
people’s lives.
• Once you are sure about that, it’s easy to be passionate and positive about what you do.

The 5 Strengths of an Entrepreneur

1. They’re Innovative

Most entrepreneurs think that their ideas are innovative when they start their business, but
whether or not they truly are will dictate the long term success or failure of their business. One of
the biggest barriers to innovation is the refusal to acknowledge that your idea is already out there
– and possibly being done better by someone else. True innovation comes from taking the kernel
of your idea and standing it up against your competitors to see if can really give them a run for
their money.
2. They Aren’t Afraid to Take a Chance

Being an entrepreneur is not for the faint of heart, but the “if you build it they will come”
mentality doesn’t always work either. It takes a balance of solid planning and research to justify
making those leaps of faith.

3. They’re willing to Work Hard

Some people become entrepreneurs because they think that being your own boss means being
able to do whatever you want – think again. While technically you can do whatever you want
when you own your own business, to be successful you need to want to work hard to do the
things required to grow your business. There is no quick fix for business success and overnight
success is usually the result of a lot of sleepless nights.

4. They Know How to Manage Money and People

Some entrepreneurs try to spend money to grow their business, others try to hire people, still
others do both – most do it poorly. Spending too much on the wrong things and not enough on
the right ones will sink your business (and potentially your relationships if one of your spends
involves hiring a friend or family member). Do whatever it takes to get the people and money
expertise you need to make the right decisions in these areas.

5. They Are Passionate About What They Do

Being passionate about what you do is one of the highest priorities for sustaining success as an
entrepreneur over the long term. Getting into a business just for the money making potential is
not likely to sustain you when times are tough and the money doesn’t seem to be coming in as
fast as you would like it to. Having a purpose for being in business beyond making money will
drive the persistence needed to innovate past your first few “failures” in your business and get to
the success stories.

Five Common Weaknesses of Entrepreneurs

1 Bad Time Management-Working 14 hours a day is not such a great idea. Doesn’t mean you get
more things done. Different people are productive at different times of the day, also some time
management techniques work for some people and not so much for others. But if you work more
than 8-9 hours a day, consider changing some habits.

2. Hesitance to Delegation -When you start a business and you have not worked for any
multinational company as a manager of a team, it is very common that you would be
hesitant to delegate work to others. But unless you want to be a one man orchestra you
will have to get over it.

3. Biased perspective on the business-Yes, when you have been working for months on
the same project you become so absorbed by it that you lose the perspective and may start
 taking some bad decisions. Take the time to step back every now and then and also ask
for external feedback.

4. Being all over the place-Having a lot of ideas is great! But don’t try to implement them
all at a time. It will most probably be a disaster .Focus on 3-4 important things and chase
them over. Then go back, analyze, get rid of what was not working, add something new..

5. Bad Administration skills –It is strongly recommend that you hire an accountant from
the very beginning because administration most probably is something on the very back
of your mind. Also software can help; there are many apps out there to help you keep
track on invoicing, taxes and all these things you hate.

The 5 M's of Entrepreneurship

The factors of production consists of many factors such as land, labor, capital,
entrepreneurship and management in which management is a vital factor of production, an
entrepreneur may establishes the organization as its owner , but it is management that make
various resources productive. They simply require the catalyst of management to produce results
because it is management that coordinates various factors of production. Therefore, management
occupies a central place among all the factors of production. There are other factors of
production too, which are money, manpower, materials, machinery and methods known as
the five m's of management. These are known as the five m's of management because of their
initials which is 'M'.

1. Money: money is the most critical and all purpose resource because it is used to acquire or
hire other resources. In organization, money is employed to generate more money in the form of
profits or surplus. A business firm or enterprise requires money in the form of fixed capital and
working capital.
2. Manpower: manpower refers to the managerial and non-managerial personnel employed
in an organization. Other resources cannot act by themselves and have to be utilised by human
beings. Therefore, human resources mobilize, allocate and utilize the physical and financial
resources of an organization.
3. Materials: materials represent the physical raw materials and intermediate products (semi-
finished goods) which are converted and/or assembled into finished products with the help of
certain processes and technology.
4. Machinery: machines are the equipment used to process the materials into finished or
semi-finished products. Employment of modern machinery helps to reduce costs and to improve
the quality of output. Technology has therefore become an important ingredient in the efficient
management of organizations.
5. Methods: methods refer to the normal and prescribed ways of doing things various
operations are performed according to certain systems and procedures. Use of right methods
helps to increase efficiency of operations and contributes to effective management. Every other
factor which is a part of the five M's has its own dynamics. It is the duty of management or
managers to understand or analyze the basic nature and the functions of each M and the source of
its availability. Managers must clearly know the purposes for which the other factors are
employed and coordinate them in such a way as to optimize their combined productivity.

Communicate Effectively
Making Assumptions during Communication

Visualise it: you’re in a meeting, discussing the budget for the Security Division. You begin to
state your idea regarding an issue with cyber security, “The biggest problem I see is…” and
suddenly the gentleman down the table interrupts, “Yes! The biggest problem is the way the pens
and pencils in the storeroom keep disappearing. Exactly!” You stop and frown. Everyone looks
perplexed. What do pens and pencils have to do with cyber security?

The co-worker who interrupted you made a common mistake in communication – he made an
assumption. In fact, he made several assumptions. He assumed your statement was about security
in general as opposed to cyber security. He also assumed that he knew what your statement was
going to focus on. Finally, he assumed that you and he agreed about the problem.
Why do we make assumptions?
Often, we make assumptions about what someone else is trying to say because of speech
patterns. Some people talk faster than others; some people use pauses in their conversation
style. Perhaps your brain works just a little faster than the speaker’s. Because of this, you
might have a tendency to jump in and complete a sentence or idea during those pauses.
Another reason we make assumptions is that we think we know what the other person is
going to say. Now, I don’t know if you have psychic powers and can read minds, but I know
I sure can’t. That’s why language developed – so we can communicate clearly. Guessing at
what another person is going to say just causes confusion.

What happens when we make assumptions?

Making assumptions not only causes confusion, but it also causes delays that most of us can ill
afford. Time is money, and taking the time to explain where someone has made a wrong
assumption is a waste of time that could be used for more productive work.

Similarly, making assumptions can also cause ill feelings in the office. If you are constantly
finishing other people’s sentences and jumping to conclusions about their ideas, the office
dynamic is strongly affected. Others will stop including you in their meetings and brainstorming
sessions because they know you don’t pay attention anyway.

How can we avoid making assumptions?

The key to keep from making assumptions in communication is to give full attention to the other
person and understand exactly what he or she is saying first before adding your comments to the
discussion. Here are five tips to ensure you won’t be the one wasting time by making incorrect
and often embarrassing assumptions when you communicate with others:
 • Be patient. Your ideas are important, but no more important than anyone else’s.

• Listen carefully. If you are busy thinking about what you want to say, you aren’t going to
hear what the other person is saying.

• Take notes if necessary. If the discussion is a long one, notes can help you remember the
points you want to make.

• Rephrase what was said in your own words. This is the clearest way to ensure you
haven’t made an assumption about what a statement means.

• Don’t interrupt. The speaker may be going on to clarify exactly what you are questioning.

• Pause and reflect. Allow some time to let the speaker’s comments fully sink in by
pausing and reflecting before you jump in to speak.
Effective communication
• Clear Message: The message which the sender wants to convey must be simple, easy to
understand and systematically framed to retain its meaningfulness.
• Correct Message: The information communicated must not be vague or false in any
sense; it must be free from errors and grammatical mistakes.
• Complete Message: Communication is the base for decision making. If the information is
incomplete, it may lead to wrong decisions.
• Precise Message: The message sent must be short and concise to facilitate straightforward
interpretation and take the desired steps.
• Reliability: The sender must be sure from his end that whatever he is conveying is right
by his knowledge. Even the receiver must have trust on the sender and can rely on the
message sent.
• Consideration of the Recipient: The medium of communication and other physical
settings must be planned, keeping in mind the attitude, language, knowledge, education
level and position of the receiver.
• Sender’s Courtesy: The message so drafted must reflect the sender’s courtesy,
humbleness and respect towards the receiver.
• Effective Communication Skills
• Conveying a message effectively is an art as well as a skill developed after continuous
practice and experience.
• The predetermined set of skills required for an influential communication process are as
follows:
• Observance: A person must possess sharp observing skills to gain more and more
knowledge and information.
 • Clarity and Brevity: The message must be drafted in simple words, and it should be clear
and precise to create the desired impact over the receiver.
• Listening and Understanding: The most crucial skill in a person is he must be a good,
alert and patient listener. He must be able to understand and interpret the message well.
• Emotional Intelligence: A person must be emotionally aware and the ability to influence
others from within.
• Self-Efficacy: Also, he/she must have faith in himself and his capabilities to achieve the
objectives of communication.
• Self-Confidence: Being one of the essential communication skills, confidence enhances
the worthiness of the message being delivered.
• Respectfulness: Delivering a message with courtesy and respecting the values, believes,
opinions and ideas of the receiver is the essence of effective communication.
• Non-Verbal Communication: To connect with the receiver in a better way, the sender
must involve the non-verbal means communication too. These include gestures, facial
expressions, eye contact, postures, etc.
• Selection of the Right Medium: Choice of the correct medium for communication is also
a skill. It is necessary to select an appropriate medium according to the situation, priority
of the message, the receiver’s point of view, etc.
• Providing Feedback: Effective communication is always a two-way process.

Improve your communication skills

Successful leaders are able to meaningfully communicate with others.

Steve Jobs inspired his employees to strive for perfect hardware products. Jack Welch mentored
the senior leadership team of GE to new heights. Jeff Bezos is known for articulating the
Amazon ethos clearly to employees and the world. All of these leaders possess outstanding
leadership skills.

Common Barriers to Effective Communication:

• The use of jargon. Over-complicated, unfamiliar and/or technical terms.

• Emotional barriers and taboos. Some people may find it difficult to express their emotions and
some topics may be completely 'off-limits' or taboo. Taboo or difficult topics may include, but
are not limited to, politics, religion, disabilities (mental and physical), sexuality and sex, racism
and any opinion that may be seen as unpopular.
• Lack of attention, interest, distractions, or irrelevance to the receiver.
• Differences in perception and viewpoint. ms or speech difficulties.
• Pal -verbal communication. Not being able to see the non-verbal cues,.
• Language differences and the difficulty in understanding unfamiliar accents.
• Expectations and prejudices which may lead to false assumptions or stereotyping. People
often hear what they expect to hear rather than what is actually said and jump to incorrect
conclusions.
• Cultural differences. The norms of social interaction vary greatly in different cultures, as do
the way in which emotions are expressed. For example, the concept of personal space varies
between cultures and between different social settings..
A skilled communicator must be aware of these barriers and try to reduce their impact by
continually checking understanding and by offering appropriate feedback.

COMMUNICATION BEST PRACTICES

Meaning and Nature of Communication:

The exchange of information or passing of information, ideas or thought from one person to the
other or from one end to the other is communication. According to McFarland communication is,
“a process of meaningful interaction among human beings. More specifically, it is the process by
which meanings are perceived and understandings are reached among human beings.” Newman
and summer defined communication as “an exchange of facts, ideas, opinions or emotions by
two or more persons.”

Communication is the process of passing information from one person to another. The purpose
of communication understands of information. Whatever one wants to say to someone should be
clearly understood by him else the very purpose of the communication would be defeated.

In an organisation communication facilitates the flow of information and understanding between

different people and departments through different media using all the channels and networks.
This flow of information is vital for managerial effectiveness and decision making in general and
for human resource manager in particular as he has to be in contact with the managers of various
departments, employees and workers and trade union leaders.

Communication thus helps understand people better removing misunderstanding and creating
clarity of thoughts and expression. It also educates people. The communication may be written or
oral, formal, informal, and upward, downward, horizontal, diagonal, interpersonal, intrapersonal,
interdepartmental, intra-organisational.

The communication brings people together, closer to each other. The communication is an
important management function closely associated with all other managerial functions. It bridges
the gap between individuals and groups through flow of information and understanding between
them. Information is the most vital aspect for communication. It is the information which is
transmitted, studied, analyzed and interpreted and stored. The manager therefore has to spare
time to collect, analyze and store the information for decision-making and routine day to day
business.
Purpose of Communication:

Management is getting the things done through others. The people working in the organisation
should therefore be informed how to do the work assigned to them in the best possible manner.
The communication is essential in any organisation.

The purpose of the communication can be summed up into the following:

1. Flow of Information:

The relevant information must flow continuously from top to bottom and vice versa. The staff at
all levels must be kept informed about the organisational objectives and other developments
taking place in the organisation. A care should be taken that no one should be misinformed. The
information should reach the incumbent in the language he or she can understand better. The use
of difficult words should be avoided. The right information should reach the right person, at right
time through the right person.

2. Coordination:

It is through communication the efforts of all the staff working in the organisation can be
coordinated for the accomplishment of the organisational goals. The coordination of all
personnel’s and their efforts is the essence of management which can be attained through
effective communication.

3. Learning Management Skills:

The communication facilitates flow of information, ideas, beliefs, perception, advice, opinion,
orders and instructions etc. both ways which enable the managers and other supervisory staff to
learn managerial skills through experience of others. The experience of the sender of the
message gets reflected in it which the person at the receiving end can learn by analyzing and
understanding it.

4. Preparing People to Accept Change:

The proper and effective communication is an important tool in the hands of management of any
organisation to bring about overall change in the organisational policies, procedures and work
style and make the staff to accept and respond positively.

5. Developing Good Human Relations:

Managers and workers and other staff exchange their ideas, thoughts and perceptions with each
other through communication. This helps them to understand each other better. They realize the
difficulties faced by their colleagues at the workplace. This leads to promotion of good human
relations in the organisation.
6. Ideas of Subordinates Encouraged:

The communication facilitates inviting and encouraging the ideas from subordinates on certain
occasions on any task. This will develop creative thinking. Honoring subordinates’ ideas will
further motivate them for hard work and a sense of belonging to the organisation will be
developed. It will provide them with the encouragement to share information with their superiors
without hesitation. The managers must know the ideas, thoughts, comments, reactions and
attitudes of their subordinates and subordinates should know the same from the lowest level staff
of their respective departments.

Importance of Communication:

Effective communication is vital for efficient management and to improve industrial relations. In
modern world the growth of telecommunication, information technology and the growing
competition and complexity in production have increased importance of communication in
organisations large and small irrespective of their type and kind. A corporate executive must be
in a position to communicate effectively with his superiors, colleagues in other departments and
subordinates. This will make him perform well and enable him to give his hundred percent to the
organisation.

Understand the important of listening in communication and learn to listen actively

1. Base for Action:

Communication acts as a base for any action. Starting of any activity begins with communication
which brings information necessary to begin with.

2. Planning Becomes Easy:

Communication facilitates planning. Planning is made easy by communication. Any type of

information regarding the human resource requirement of each department of the organisation
with their qualifications, the type and kinds of job etc. can be collected through communication
which helps in human resource planning. Policies and programmes for their acquisition can be
prepared and implemented. In the entire process communication plays a vital role, it also
facilitates managerial planning of the organisation.

3. Means of Coordination:

Communication is an important tool for coordinating the efforts of various people at work in the
organisation.

4. Aids in Decision-Making:

The information collected through communication aids in decision-making. Communication

facilitates access to the vital information required to take decisions.
5. Provides Effective Leadership:

A communication skill bring manager near to his subordinates and exchange ideas and submits
appropriate proposals, knows their opinions, seeks advices and make decisions. This enables a
manager to win confidence of his subordinates through constantly communicating with them and
removing probable misunderstandings. In this way he leads his people to accomplish the
organisational goal.

6. Boosts Morale and Motivation:

An effective communication system instills confidence among subordinates and workers

ensuring change in their attitude and behaviour. The main cause of conflict and dissatisfaction is
misunderstanding which can be removed through communication skills. The removal of
misunderstanding makes manager and his subordinates understand each other and create good
industrial relations. This boosts up the morale of the people and motivates them to work harder.

Principles of Communication:

Lack of effective communication renders an organisation handicapped. So to have effective

communication certain principles are to be followed.

They are as follows:

1. Clarity:

The principle of clarity means the communicator should use such a language which is easy to
understand. The message must be understood by the receiver. The words used should be simple
and unambiguous. The language should not create any confusion or misunderstanding. Language
is the medium of communication; hence it should be clear and understandable.

2. Adequacy and Consistency:

The communicator must carefully take into account that the information to be communicated
should be complete and adequate in all respect. Inadequate and incomplete message creates
confusion and delays the action to be taken. The adequate information must be consistent with
the organizational objectives, plans, policies and procedures. The message which is inconsistent
may play havoc and distort the corporate interests.

3. Integration:

The principle of integration portrays that through communication the efforts of human resources
of the organisation should be integrated towards achievement of corporate objectives. The very
aim of communication is to achieve the set target. The communication should aim at
coordinating the activities of the people at work to attain the corporate goals.
4. Economy:

The unnecessary use of communication system will add to cost. The system of communication
must be used efficiently, timely i.e. at the appropriate time and when it is necessary. The
economy in use of communication system can be achieved in this way.

5. Feedback:

The purpose of communication will be defeated if feedback is not taken from the receiver. The
confirmation of the receipt of the message in its right perspective from its receiver fulfills the
object of communication. The feedback is essential only in case of written communication and
messages sent through messengers. In case of oral type of communication the feedback is
immediately known.

6. Need for Communication Network:

The route through which the communication passes from sender or communicator to its receiver
or communicate refers to communication network. For effective communication this network is
essential. The managerial effectiveness will also depend upon the availability of adequate
network.

7. Attention:

The message communicated must draw the attention of the receiver staff and ensure action from
him in the right perspective. The efficient, sincere and prompt manager succeeds in drawing the
attention of his subordinates to what he is conveying.

Related Articles:

1. Importance of Communication in Management: 13 Importance’s

2. Top 13 Importance of Communication

15 common communication mistakes

1. Not using “we” language.

Newsflash: Relationships are not a competition. Or at least they shouldn’t be. But so many
people view the other person as the “enemy.” They speak with “me vs. you” language. You need
to reframe it and think of yourselves as a team. Work together, not against each other. Work to
solve a problem, not to be victorious.
2. Not giving eye contact.

How many of your are guilty of staring at your phone when someone is talking to you? Or typing
on your laptop? Or watching TV? Even if you don’t catch yourself doing this, I’m sure you all
have. But all of us have also been on the other side – when people are not looking at us when we
talk. How does that make you feel when it happens? Yeah, not good. Right? So why not live by
the golden rule and give other people the same courtesy that you want to be given?

3. Interrupting.

What does it say to someone when you interrupt them? It says, “What I have to say is more
important than what you have to say.” Not a very nice message, huh? Women tend to interrupt
out of excitement and/or being afraid they will forget what the are going to say. Men tend to do it
more as a power move. Either way, it still says, “I’m more important than you.”

4. Having negative or apathetic body language.

Ninety percent of the meaning of a message is contained in body language. That’s huge. Eye
contact is part of body language, but it’s only a small part. What about your posture? Do you
lean in toward the other person or are you positioned in a way that screams, “I really don’t care
what you’re saying?” What about your head tilt? What about how close or far you sit
from someone? All of these send strong messages. As the saying goes, actions speak louder
than words.

5. Not paraphrasing and restating what the other person says.

Have you ever said something to someone and you had a bad feeling that they didn’t actually
hear what you said? Sure, they might have said, “Mmmm hmmm…” or “Yeah…” or “Yup…”
But you know they didn’t really hear you. That’s where paraphrasing and restating comes in. Try
saying something like “So, what I hear you saying is that when I am late, it makes you worried?
Did I hear you correctly?” That shows the other person that you not only heard them, but you
care enough about paraphrasing it in order to show them that you heard them.

6. Making assumptions before you hear the whole message.

You probably have rolled your eyes at people, thinking, “Oh I don’t even have to hear the rest of
this – I already know what they’re going to say!” Well, maybe you do, but maybe you don’t.
Don’t do that. We don’t like when people make assumptions about what we are saying, so don’t
do that to other people either.

7. Letting your emotions control what you say.

You’re so angry that you think the roof is going to blow off your house. Okay, yeah. We’ve all
been here. But it’s what you do when you’re feeling that way that really counts. Don’t let your
emotions get into the driver’s seat. Go cool off so you don’t regret what you say. Then, when
your logical side has kicked in, sit down and approach the conflict with “we” language.
Remember #1 – you are a team. It’s not a competition.

8. Not asking probing questions of other people.

Saying things like, “Tell me more about that” or “So how did that make you feel?” lets the other
person know that you care about them enough to ask for more information. That’s called a
probing question. Ask people to elaborate. It makes them feel good.

9. Referring to yourself and your life more than asking people about theirs.

If you never ask other people what’s going on in their life, then you look pretty darn self-
absorbed. I have people in my life who spend about 95% of the time we are together talking
about themselves. Not that I mind that much, but it would be nice if they ask how I’m doing once
in a while. Can you relate?

10. Needing to “win” an argument.

I’m going to repeat this again. Relationships are not a competition. Admitting that you’re wrong
is not a sign of weakness. It is a sign of maturity. No one is right all of the time. Don’t think you
have to “win.” Acknowledging your mistakes will not give away your power. It shows that you
are the better person because you can be honest.

11 Attacking other people’s character instead of what they say or do.

How many times have you said (or heard) something like, “You are such a JERK!! I can’t stand
you!” And maybe you regret it later (you should). We all have bad behavior from time to time.
And we will never agree with everything everyone says. But you need to disagree with their
words or their actions, not their character. Don’t tear people’s self-esteem down. Build them up.

12. Expecting people to be a mind reader.

No one is. So why do we expect them to be? Women tend to be guilty of this more so than men.
Women use indirect language. But if you really want someone to understand you, you have to
speak directly. Otherwise, you can’t hold them accountable if they misinterpret your cryptic
message.

13. Giving up your power with your words.

Women also tend to use “powerless” language. This is excessively polite language that gives up
the power to the other person. For example, “I’m sorry, but am I bothering you?” That gives
them the opportunity to say, “Yes you are! Go away!” Or how about “This might be a dumb idea
but …” The other person can come back and say, “You’re right! That IS really dumb!” Own
your power. Don’t give it away.
14. Letting anything distract you from giving your full attention.

Your phone. The TV. Your thoughts. Your bad attitude. I could go on and on about all the things
that distract us from paying attention when someone talks to us. Be mindful of when you are
giving into these things. If you don’t, it sends the message that “this is more important for me to
pay attention to than you.”

15. Not being empathetic & realizing that perception is reality.

You see it your way. Someone else sees it another way. Who’s right? Is a Republican right or a
Democrat? Is a Christian right or a Jew? It all depends on who you ask, right? Sometimes there
is no “objective” reality. It’s all how an individual sees it. Remember that. Having empathy and
realizing that the other person’s experience is very real to them is key to good relationships.
Being a good communicator takes effort. It’s like being a good athlete – you have to practice if
you want to be good at your craft! I hope that you take these 15 things to heart and start working
on them today. And please share them with others as well. I wish you all happy, healthy
relationships!

§ Communication is Perceived as
§ 55% Physiology
§ 38% Tonality
§ 7% Words
§In communication, a speaker’s words are only a fraction of his efforts. The pitch and tone of
his voice, the speed and rhythm of the spoken word, and the pauses between those words may
express more than what is being communicated by words alone. Further, his gestures, posture,
pose and expressions usually convey a variety of subtle signals. These non-verbal elements can
present a listener with important clues to the speaker’s thoughts and feelings and thus
substantiate or contradict the speaker’s words.
§The most commonly and casually cited study on the relative importance of verbal and
nonverbal messages in personal communication is one by Prof. Albert Mehrabian of the
University of California in Los Angeles. In the 1970s, his studies suggested that we
overwhelmingly deduce our feelings, attitudes, and beliefs about what someone says not by the
actual words spoken, but by the speaker’s body language and tone of voice.
§In fact, Prof. Mehrabian quantified this tendency: words, tone of voice, and body language
respectively account for 7%, 38%, and 55% of personal communication.
§The non-verbal elements are particularly important for communicating feelings and attitude,
especially when they are incongruent: if words and body language disagree, one tends to believe
the body language.
§f a speaker’s words and body language differ, listeners are more likely to believe the nonverbal
communication of the speaker, not his words. For example, if a person states, “I don’t have a
problem with you!” while avoiding eye-contact, looking anxious, and maintaining a closed body
language, the listener will probably trust the predominant form of communication, which
according to Prof. Mehrabian’s findings is non-verbal (38% + 55%), rather than the literal
meaning of the words (7%.)
§I have two arguments against the oversimplified interpretation of the “7-38-55 Rule.” In the
first place, it is very difficult to quantify the impact of tone of voice and body language on the
effectiveness of communication. Secondly, such quantifications are very subjective and cannot
be applied as a rule to all contexts. Prof. Mehrabian himself has cautioned,
§“Total Liking = 7% Verbal Liking + 38% Vocal Liking + 55% Facial Liking. Please note that
this and other equations regarding relative importance of verbal and nonverbal messages were
derived from experiments dealing with communications of feelings and attitudes (i.e., like—
dislike). Unless a communicator is talking about their feelings or attitudes, these equations are
not applicable.”
§This study is a convenient—if not accurate—reminder that nonverbal cues can be more
valuable and telling than verbal ones. Therefore, to be effective and persuasive in our verbal
communication—in presentations, public speaking, or personal communication—it is essential to
complement our words with the right tone and voice and the appropriate body language.

Learn a few body language

Improving Communication through Building Rapport with Others

Rapport: a positive and close relationship between individuals who understand each other’s
feelings, ideas and communicate effectively with each other.

The ability to build rapport with others in the

workplace enables for more effectively meeting goals and achieving objectives. We
communicate better with others when we have established a rapport with them. When we have
established a rapport with our colleagues, we:

• Understand their feelings

• Share similar interests
• Share ideas more readily
 • Know their core values
• Know the best way to communicate with them

Building rapport happens when we take time to build strong working relationships and establish
trust with others. While building rapport happens naturally as we establish strong working
relationships with others and begin to see how we are similar and share certain interests.
Sometimes we need to build rapport for a specific situation.

An Example of Building Rapport

Consider a situation where you are about to enter into a business negotiation. You know nothing
about the other party in the negotiation. You know you need to build rapport in order to
understand their feelings about the negotiation, as well as to get to their “wants” and “needs.” If
you have find some common ground, you are more likely to achieve a win-win solution.

You set up an introductory meeting with the individual with whom you are entering negotiations.
During this meeting, you introduce yourself both on a professional level but also a personal
level. To do this, you share that you and your spouse had a baby boy a few months ago. The
individual with whom you are meeting shares about himself and also comments that just a few
months ago he and his wife welcomed a baby girl into the world. You have found some common
ground.

As you talk, you pay attention to:

• Body language
• Voice – speech rate and tone
• Words used in talking

As you talk further about the negotiation and how best to proceed with negotiations, you and the
other party begin to learn the following about each other:

• Beliefs and value systems

• Needs and wants from the negotiation

You are building rapport with the other party. You are learning what is important for them to
achieve in the negotiation which enables you to craft a win-win solution.

Consider how you might build rapport with those with whom you work closely. How will it help
you communicate more effectively and achieve mutual goals and objectives?

n WHY

• Establish Trust

• Establish Understanding
 • Lead Individuals or Groups
n HOW

• Match Voice Speed

• Match Verbal Predicates

• Match or Mirror Physicality and Energy

• Match Brain Processing Speed

• Ask Questions that Match Other’s Internal Experience

Building Rapport
Access Cues

Visual Constructed Visual Remembered

Auditory Remembered AuditoryConstructed

Feelings Internal Dialogue

Other Cues

Auditory

• Touching Face
• Touching Lips
• Touching/Rubbing Fingertips

Visual

• Visually Defocused

Building Rapport- Questions and Access Cues

n Visual

• How does that look to you?

• Do you see what I mean?

n Auditory
 • Does that sound good to you?
n Internal Dialogue

• What do you say to yourself about that?

n Feelings

• How would you feel about that?

Building Rapport- Processing Speeds

Fast Visual

│ Auditory

Slow Kinesthetic

Communication Best Practices:

Being able to communicate effectively is perhaps the most important of all life skills. It is what
enables us to pass information to other people, and to understand what is said to us. You only
have to watch a baby listening intently to its mother and trying to repeat the sounds that she
makes to understand how fundamental is the urge to communicate.

Communication, at its simplest, is the act of transferring information from one place to another.
It may be vocally (using voice), written (using printed or digital media such as books, magazines,
websites or emails), visually (using logos, maps, charts or graphs) or non-verbally (using body
language, gestures and the tone and pitch of voice). In practice, it is often a combination of
several of these.

Communication skills may take a lifetime to master—if indeed anyone can ever claim to have
mastered them. There are, however, many things that you can do fairly easily to improve your
communication skills and ensure that you are able to transmit and receive information
effectively.

This page provides an introduction to communication skills. It is also a guide to the pages on
SkillsYouNeed that cover this essential area to enable you to navigate them effectively.