ENTREPRENEURSHIP

An entrepreneur is a person who has possession of a new enterprise, venture or idea, and assumes significant accountability for the inherent risks and the outcome. He or she is an ambitious leader who combines land, labor, and capital to often create and market new goods or services. An entrepreneur is a person who has possession of a new enterprise, venture or idea and assumes significant accountability for the inherent risks and the outcome. An individual who, rather than working as an employee, runs a small business and assumes all the risk and reward of a given business venture, idea, or good or service offered for sale. The entrepreneur is commonly seen as a business leader and innovator of new ideas and business processes. Entrepreneurs play a key role in any economy. These are the people who have the skills and initiative necessary to take good new ideas to market and make the right decisions to make the idea profitable. The reward for the risks taken is the potential economic profits the entrepreneur could earn. An individual who generates business activity. A businessman or businesswoman. Often associated with one who takes business risks. Examples: Businesses owned by entrepreneurs include: auto dealerships restaurants retail stores wholesale distributing companies

AN ENTREPRENEURIAL CAREER
The entrepreneurial career is not a one day job nor it is bed of roses. Prosperity and success never come easily. It takes time and needs hard work. Systematic planning and business acumen to be successful entrepreneur. Therefore, before choosing this path one should be very careful in knowing about his own self. This introspection process helps him in knowing about himself. Every person has his own potentiality and resource. How he looks in to this aspect. If the person cans understand or identify his inner traits then it help him choosing the right path for which he should look into his beliefs, faith values etc. For an entrepreneur it is of great importance to know about himself on the basis of above mentioned individual consideration. These consideration give him ample scope to face his own self by asking the question Who I am? If he can given meaning answer to this complex question with exemplary courage and utter personal disregard to being exposed, then it helps him in getting a fair idea about himself. On the whole it helps him to making the right decision in choosing the right path for getting involved for deciding the future course of action. This is nothing but a self-identification process. After having being proper identified his strength, weakness and ability, he can make a decision of his choice, whether he will take up entrepreneurship as a career or not. If yes, then in which entrepreneurial area.

WHO IS AN ENTREPRENUER
He is a person who develops and owns his own enterprise He is a moderate risk taker and works under uncertainty for achieving the goal. He is innovative He peruses the deviant pursuits Reflects strong urge to be independent. Persistently tries to do something better. Dissatisfied with routine activities. Prepared to withstand the hard life. Determined but patient Exhibits sense of leadership Also exhibits sense of competitiveness Takes personals responsibility Oriented towards the future. Tends to persist in the face to adversity Convert a situation into opportunity. Entrepreneurship is not the proprietary quality of any caste or community. Many may possess the qualities, but are baffled with too many questions why, what and how to get about starting new venture. Are you prepared to accept it ?

WHY?
1. Are you prepared to put in hard work for achieving your goal ? 2. Are you possess a strong will power to face and overcome the difficulties and setbacks and make the enterprise successful ? 3. It your family environment congenial to leaving the traditional family occupation and undertaking a new venture ? 4. Are you prepared to wait if it take time to set the results of your efforts ?

WHAT Information Needed

- Prospects and scope of a particular industry or business - Technical details - Quantum of investment etc. - Information about different field about the particular trade - Purpose of being the business - Responsibilities towards customers, employees, society etc. - For marketing of your product be aware of strength and weakness of your product. - Factors offering market demand - Cost and model of distribution etc. - Manufacturing process - Plant and machinery - Availability of new materials - Production costs - Manpower - Fund requirement of working capital - Assessment of profitability and repayment of term loan.

HOW - Implementation Plan

- Final selection of product - Prepare project report - Registration : - Apply to Financial Institutions - Provisional Registration - Obtain Licenses - Apply for shed, Land and Power etc. - Arrange your capital - Plant Layout - Construct shed - Obtain utilities - Order for NOC - Order for raw materials supply etc. - Recruitment and training of manpower - Arrangements of sales network - Trail run/sales promotion technique - Introduction of product - Commercials production return.

What it takes to be an Entrepreneur ?

To answer the question, "what does it take to be an entrepreneur?" we first need to ask the question- why focus on entrepreneurs, what do they do differently? In a resource constrained society, entrepreneurs are extraordinarily evolved They start with aspirations that lie outside the resource base. And, it's true that in a resource constrained society, entrepreneurs find, multiply and leverage resources and create wealth. They change the game and fight and unseat incumbents. They find the world different- to shape the future you must first imagine the future. Good entrepreneurs do not benchmark against the best practices; they create the next practices Fundamentally entrepreneurship is about discovery of wealth. It's not taking what is available, but creating and discovering wealth. It's about courage, passion, humility and humanity. It creates a social legitimacy to wealth creation and the role of business The role and responsibility of entrepreneurs is changing as India changes. This is an important issue to think about, because the nature of entrepreneurship is different in India- it is more complex, complicated and more granular than the West. In India there are a lot of family-inspired businesses-almost 45% of the top 500 businesses in this country belong to these categories-that is a

significant portion of India's wealth creating opportunity. The kind of entrepreneurship India has- in pockets of excellence, honest, meritocracy-oriented- is exactly the kind of entrepreneurship that will make wealth creation a socially legitimate activity. We have to create awareness and advocacy for honest people who want to make a difference, who want to express themselves and for whom business and institution building is not necessarily for personal glory

WOMEN ENTREPRENEURS
Economic, social, religious, cultural and other factors existing in the society to a great degree are responsible for the emergence of the entrepreneurs. Following the World War 2 there is an extraordinary boost in the number of self employed women in the highly developed countries of the world. Numerous numbers of women nowadays are not only climbing up the corporate ladder but are designing and creating the ladder itself. The story given in the Newsweek magazine states that, women-owned businesses today are growing at twice the rate of men's. The entrepreneurial spirit noticeably has a womanly side to it. Women entrepreneurs in India symbolise a set of women who have broken away from the beaten path and are discovering new views. They had to face many challenges, family oppositions, pessimistic remarks from their fellow workers in the process of establishing themselves as independent entrepreneurs. Wanting to do something positive in their lives urged and compelled them to be an entrepreneur. Today we will be introducing you ,some of entrepreneurs who are womens , their work , their qualities make them different.

ENTREPRENEUR IN HR SECTOR - Sandhya Gaikwad

Dr. ELA BHATT Mountain Top Shouldnt Base A good combination of struggle as a and strategy, Forget About The

constructive work Create, alternative economic organizations

Ela R. Bhatt is widely recognized as one of the worlds most remarkable pioneers and entrepreneurial forces in grassroots development. Known as the gentle revolutionary she has dedicated her life to improving the lives of Indias poorest and most oppressed women workers, with Gandhian thinking as her source of guidance. BIOGRAPHY Ela Ramesh Bhatt born on 7 September 1933 in the city of Ahmedabad in India. is the founder of the Self-Employed Women's Association of India (SEWA).A lawyer by training, Bhatt is a respected leader of the international labour, cooperative, women, and micro-finance movements who has won several national and international awards Early life Ela Bhatt's childhood was spent in the city of Surat. Her father, Sumantrai Bhatt, had a successful law practice. Her mother, Vanalila Vyas, was active in the women's movement. Bhatt attended the Sarvajanik Girls High School in

Surat from 1940 to 1948. She received her Bachelor of Arts degree from the M.T.B. College in Surat in 1952. Following graduation Ela entered the Sir L. A. Shah Law College in Ahmedabad. In 1954 she received her degree in law and a Gold Medal for her work on Hindu Law. She then taught English for a short time at SNDT Women's University, better known as SNDT, in Mumbai. But in 1955 she joined the legal department of the Textile Labour Association (TLA) in Ahmedabad. Current Life Ela Bhatt is currently living in Ahmedabad with her family, which includes her son, daughter-in-law and two grandsons. Ela Bhatt's daughter is settled in USA in the town of New Haven with husband and son and a daughter. Support from significant other Ela Bhatt Says : Im a product of the later years of the freedom movement, the independence movement of my country. As we were studying in school and then in college our teachers and everybody around was talking about independence. In the family, also, there was the atmosphere of the independence struggle. My own grandfather, my mothers father, was in the Salt March. He was in jail. My mothers two brothers were in jail. (Editor: begun March 12, 1930, the Salt March led by Mohandas (Mahatma) K. Gandhi was a 24-day march from his ashram in Ahmedabad to the Arabian Sea to make salt and protest the British ban of an Indians right to make salt.

In Gandhis thinking

In

Gandhis

thinking,

in

his

design

of

development, the human being is in the

center. He talks about human values. It may be your personal life or public life, political life, economical, the life of the nation, of the society, or at a global level but for him certain values, human values, were central. And they were non-negotiable. His values are truth, peace, nonviolence.Also, in this change he put women as the leaders. He said that women are natural leaders in our fight for social justice where love and peace, nonviolence, are the chief weapons of the fight. When I was studying in college, our teachers asked us to go the villages and live with the villagers. Mainly against injustice, against poverty. We never had to question how to do it because Gandhiji had shown the way -- how to go about it and what kind of discipline you have to follow. There I met my husband (Ramesh Bhat) who was a student leader. I got married and I came to the same kind of family. That is what raised the consciousness for me. I am a product of those days. Opportunity Obsession Next, as soon as she finished law (studies) she joined the Textile Laborers Association,which was started by Gandhiji in 1917. she was working for textile workers. It was a union of the textile workers -- that is formal-sector labor. But, slowly, very gradually, there was a consciousness growing within me that there are so many other kinds of economic activities being done outside the formal sector, where there is no specific employer/employee relationship. What about them? She became more and more confirmed that if we talk of a labor movement worth its name in my country then it should include these workers who are outside the formal sector. She started calling them self-employed but economists and others call them the informal sector.

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Motivation to womens movementPoverty will never be removed without the participation of women (16 July 2009)

She realized was that when we talk of women and the womens movement -who are the women of India? They are rural, poor, illiterateor semi-literate, and economically very active. The (self-employed women workers) are 80% of the women of the country. It is these women who should be playing a leading role in the womens movement. Self Reliance and Ability to Adapt Ela Bhatt is the founder of the Self Employed Womens Association (SEWA) and was SEWAs first general-secretary. Based in Ahmedabad, Gujarat, India, SEWA is the largest single trade union in the country with a membership of 687,000 women. SEWAs members are vegetable and garment vendors, in-home seamstresses, head-loaders, bidi rollers, paper pickers, construction workers, incense stick makers, and agricultural workers. They come from India's "unorganized sector" and organize for their just dues and rights. 96% of all women workers in India are in this sector. Among their achievements is the SEWA Bank whose capital is made up entirely of their own contributions. The SEWA Bank was founded in 1974 by 4,000 women each contributing ten rupees. This interview was conducted August 31, 2003

11

by Nic Paget-Clarke for In Motion Magazine in Ahmedabad. Also see interview with Jayshree Vyas - Managing Director of SEWA Bank.

And the demand is changing so fast. Lets say SEWA Bank gives a loan for machines. Earlier, the old sewing machine was OK. Their sewing machine was 15 years old, but it worked. With the new kinds of products they need another machine. It is called full circle. Earlier it was half circle, half wheel. Now they need a full wheel. Then, they have to put on the electric motor to increase their productivity but also for certain designs. And they have to borrow again for the add-ons. By the time she is trained, or she is ready for (the new add-ons) manufacturing changes and another kind of add-on is needed.

Initiative & Creative : Literacy education Ela Bhatt Says: Education, if you mean by it literacy, then literacy has come at a later stage, only since five years back, because whenever we had consulted our members it was not on there priority list.

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To be able to understand financial management, savings, credit, money management, union laws, their own power to vote, all that was being done but literacy was missing. I, like any other middle-class woman, I was very keen from the beginning that, Let there be education. Let them be literate and the exploitation will be over. But it didnt happen until the last five years. We started with two districts, and now it is four districts. Now all the districts are demanding literacy program Lateral Thinking There are risks in every action. Every success has the seed of some failure. But it doesn't matter. It is how you go about it. That is the real challenge. literacy education so we are planning, in a big way, a

Determination1. She is also a trustee of the Rockefeller Foundation.

2. She was granted an honorary Doctorate degree in Humane Letters by Harvard University in June 2001.

13

3. Ela Bhatt was also awarded the civilian honour of Padma Shri by the Government of India in 1985, and the Padma Bhushan in 1986. She was awarded the Ramon Magsaysay Award for Community Leadership in 1977 and the Right Livelihood Award in 1984. 4. She has been chosen for the Niwano Peace Prize for 2010 for her contribution to the uplift of poor women in India. Creative Problem Solving Technique The Elders On 18 July 2007 in Johannesburg, South Africa, Nelson Mandela, Graa Machel, and Desmond Tutu convened a group of world leaders to contribute their wisdom, independent leadership and integrity to tackle some of the world's toughest problems. Nelson Mandela announced the formation of this new group, The Elders, in a speech he delivered on the occasion of his 89th birthday. Archbishop Tutu will serve as the Chair of The Elders. The founding members of this group also include Graa Machel, Kofi Annan, Ela Bhatt, Gro Harlem Brundtland, Jimmy Carter, Li Zhaoxing, Mary Robinson and Muhammad Yunus. This group can speak freely and boldly, working both publicly and behind the scenes on whatever actions need to be taken, Mandela commented.

Shahnaz

Hussain

Successful

Indian

Woman

Entrepreneur Jyoti Bhojwani 14

Introduction:
Shahnaz Husain, CEO of Shahnaz Herbals Inc, is a prominent Indian female entrepreneur best known for her herbal cosmetics, particularly skin care products. Currently, the Shahnaz Husain Group has over 400 franchise clinics across the world covering over 138 countries. Her groups products are sold in leading global stores including Bloomingdale's (New York), Galleries Lafayette (Paris), Seibu (Japan), Harrods and Selfridges (London), and La Rinaeccente (Milan). She comes from a royal Muslim family and her father was a very powerful man. She did her schooling from the Irish convent. Since a very young age, she had an interest in poetry and English literature. She grew up in a traditional family, but was privileged to receive modern education. She got married, when she was only fifteen years old. The next year after her marriage, she becomes a mother.

15

When she went to Teheran along with her husband, she developed a keen interest in beauty treatments. Eventually, she decided to study the cosmetology course. She wanted to be self independent and so she began writing articles for the Iran Tribune on varied subjects. While pursuing studies, she learnt about the harmful effects of chemicals on human body. She studied Ayurveda and believed that it is the best alternative to chemical cosmetics. After leaving Teheran, she took an extensive training in cosmetic therapy for a long period of 10 years from the leading institutions of London, Paris, New York and Copenhagen. She returned to India in the year 1977 and established her first beauty salon in her abode. Unlike other salons, she did not use chemical cosmetics. Rather, she made use of Ayurvedic products that are absolutely safe on the human body. She has ushered an era of herbal cosmetics. Her beauty products are very skin friendly and give a beautiful glowing look. She has not only been able to tap the markets of India, but made her presence felt in international market too. Now, her aim is to set her foothold in the space. People who go to space usually suffer from skin problems. At present, Shahnaz Hussain is focusing her attention on creating products that can prove to be beneficial for the astronauts.

About the shahnaz Husain group:

Her company, Shahnaz Husain Herbals is one of the largest manufacturers of herbal products in the world. It formulates and markets over 400 products for various beauty and health needs and has a strong presence across the globe, from the USA to Asia.In 2002, the Shahnaz Husain Group, based in New Delhi, was worth $100 million. It employed about 4200 people in 650 salons spread across 104 countries. The Group has seen a good growth rate

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in the 25 years that it has been in business. The average growth rate in the initial years (late 1970s to the early 1980s) was 15-20%. In the 1990s the average growth rate was 19.4%.

Shahnaz Husain as an entrepreneur:

Shahnaz Husain uses the Ayurvedic method of treatment, which uses natural formulations to cure ailments. She is the pioneer and leader of Ayurvedic beauty products in the world offering Natural Care and Cure. The Shahnaz Husain Group offers exclusive salon treatments geared to individual needs as well as a number of commercial formulations for the treatment of specific problems like acne, pimples, pigmentation, dehydration, alopecia,(hair loss). Shahnaz Husain uses the Ayurvedic method of treatment, which uses natural formulations to cure ailments. She is the pioneer and leader of Ayurvedic beauty products in the world offering Natural Care and Cure. The Shahnaz Husain Group offers exclusive salon treatments geared to individual needs as well as a number of commercial formulations for the treatment of specific problems like acne, pimples, pigmentation, dehydration, alopecia (hair loss).

Qualities of shahanz Husain as an entrepreneur:

Shahnaz Husain is an innovative entrepreneur. She can be categorised as a business entrepreneur because her life reflect her eagerness to start a business on her own terms & she adopted a innovative method and used Ayurveda as the base treatments. She can be categorised as a growth entrepreneur who climbed the ladder slowly but reached each heights as she desired. She is commitment towards work. to produce products skin & hair care

17

 Factor that influenced to achieve the objectives is to cooperation from family and her cosmetology entrepreneurs. She is a risk taker of the business. When she started one salon she put one banner outside salon written the qualification after few days she fixed for next 6 months. She is having problem solving skills.

The success mantra of shahanz Husain:

Achieve growth due to the quality of her products and result- oriented treatments she offers. She commented, I have relied only on clientele feedback, based on clinical treatments and this is what has made the ranges truly unique and result oriented.

Turning point of the business:

The turning point in her business came when she represented India at the Festival of India in 1980 Her team was given a counter in the perfumery section of Selfridges in London She managed to sell her entire consignment in 3 days and also broke the store's record for cosmetics sales for the year.
As a result, she was offered permanent counter in Selfridges.

Diversification of the business:

The Group has diversified into Ayurvedic centers for Panchkarma, Dhara and Kerala massage. It has also set up two Shahnaz Husain Ayurvedic Health Resorts, one near Delhi and another in collaboration with the Hyakumata group of Japan in the US island of Saipan.A line of herbal drinks under the brand name Fitness Fiesta Shadrink. These drinks are low calorie, cooling

18

drinks to be consumed in the summer.A special range of ayurvedic products for pets shapets.

Future plans:
She has started work on formulations that astronauts could carry with them in their extraterrestrial. Sojourns to protect their skin from ravages of space travel and slow down the ageing process.She has sent National Aeronautics and Space Administration (NASA) free samples of her moisturizers, hoping that they will be used on space expeditions.

Aim of shahnaz Husain:

It was aim to get India on the world beauty map. As she felt terrible about the fact that India was never represented at any world beauty congress. She was appointed president for the days proceedings at the congress. She used this opportunity to focus the world attention on Ayurveda.

Shahnaz Husain famous Quotings:

It is important to have a dream and to believe in the magic of yours dream. I do not sell products. I sell an entire civilization a jar. Iam a strong believer in word of mouth publicity because a satisfied client is the best advertisement says Shahanz. Shahnaz believes that a true entrepreneur is a person who has independendence of spirit One should be innovative, dynamic. And willing to try every avenue towards success.

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ENTREPRENEUR IN FINANCE SECTOR - Samruddhi Mahadik

Zia Mody

Zia Mody is a prominent Indian legal consultant an active member of the Bah' faith. She is considered an authority on corporate merger & acquisitions law, securities law, private equity and project finance. Mody's initial education was at Elphinstone College,

Mumbai. She then went on to study law at Selwyn College, Cambridge University, followed by a masters degree from Harvard Law School. She then passed the New York State Bar examination, and qualified as an attorney in the State of New York. She worked for five years with Baker & McKenzie in New York City, before returning to India. She started her own practice in Mumbai in 1984, which she merged twice with other firms to form AZB & Partners, now India's second-largest law firm, where she is a senior partner. She is also a member of the Securities and Exchange Board of India's Standing Committee on Mutual Funds, and of the Capital Market Committee of the Federation of Indian Chambers of Commerce and Industry.

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Zia Mody was selected as one of the 25 most powerful women in Indian business by Business Today, September 2004 and has been selected as one of India's 100 most powerful CEO's by the Economic Times in 2005. She has also been awarded the Business Women of the Year-2003 by the Financial Express in the category of the Best Knowledge Manager.

Qualities which made her entrepreneur :

1. Commitment and determination :

In mid 1980s when Zia started its own practice in India, Clients had hard time in believing that she would be as good as male finance advisor. So she set out to prove she is better. It was her determination towards her goals and her commitment toward her profession who made her so much successful that her firm, now known as AZB & Partners, is an international powerhouse that is at the table for most of the multimillion-dollar deals in the country and 80% of her client are the MNC
2.

Opportunity Obsession :

Rather than be relegated to a junior position in a traditional Indian law firm, Mody, who had spent the previous four years in a New York City firm, opened her own firm in Bombay in 1984. She said the schedule was backbreaking (16-hour days, six and a half days a week)

3. Technical expertise :

In November, Japans NTT DoCoMo, a leading mobile communications company, announced a deal to acquire a 26% stake in Tata Teleservices (TTSL) for US$2.7 billion. The deal, which values Indias sixth largest

21

mobile phone operator at US$10.38 billion, is subject to Indian regulatory approvals. It will give the Japanese mobile operator a strong foothold in the worlds fasted growing mobile market.

Upendra Joshi, a partner at Khaitan & Co who advised DoCoMo, says: DoCoMo clearly views its proposed investment in TTSL as a long-term partnership. Although the start-to-finish time extended for about five months given that the transaction was initiated through a bidding process, each individual aspect of the transaction hadan extremely challenging timeframe. Skadden Arps Slate Meagher & Flom is international counsel to NTT DoCoMo while AZB & Partners (Zia Mody) is representing Tata Teleservices. 4.Motivating : Zia says We are able to assess, identify and protect our client's interests. We have the expertise and bandwidth to advice on overseas issues. We started about 20 years ago, and over that period we have grown bigger and have instilled confidence in our clients about our abilities.

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ENTREPRENEUR IN TECHNOLOGY SECTOR - Sharda Ingle

The

field

of

biotechnology

has

revolutionized the industrial growth of the world. In India, our own Kiran Mazumdar is an example for women entrepreneurs to follow and emulate. Kiran Mazumdar Shaw, biotech entrepreneur and CEO of Biocon India group, is one of the many scientists India should be proud of. She started Biocon in 1978 collaborating with an Irish firm, started two joint ventures, Biochemizyme and Biocon-Quest India Ltd. She has held positions in industry councils, including Vice-President, Association of Women Entrepreneurs of Karnataka. She was awarded Rotary Award for Best Model Employer, National Award for Best Small Industry and most noteworthy is the Padmashri in 1989 from the Government of India. Ms. Shaw received a graduate honors degree in Zoology from Bangalore University (1973) and qualified as a Master Brewer from Ballarat University, Australia (1975). Ms Shaw also received an honorary Doctorate of Science in 2004, from her alma mater, Ballarat University, in recognition of her pre-eminent contributions to the field of Biotechnology. She has also been awarded honorary doctorates from University of Abertay, Dundee, U.K. (2007),

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University Edinburgh,

of

Glasgow, (2008).

U.K. She

(2008) was

and

Heriot-Watt a very

University, prestigious

U.K.

accorded

assignment as a Chairperson of the Vision Group on Biotechnology to draw up the States Biotech Policy. Entrepreneur Dr. Kiran Mazumdar-Shaw, Chairman & Managing

Director of Bioon Ltd., who became India's richest woman in 2004 was educated at the Bishop Cotton Girls School and Mount Carmel College in Bangalore. She founded Biocon India with a capital of Rs.10,000 in her garage in 1978 - the initial operation was to extract an enzyme from papaya. OPPORTUNITY OBSESSION She had many hurdles to overcome as a woman. Banks were unwilling to lend to her loans for two reasons: 1. Gender 2. Biotechnology as a new and poorly understood business. People were reluctant to work for a woman and age went against her as people felt she was too young to lead a company. Regardless of this, she persevered and whilst she did encounter the glass ceiling in the first 5 years of business, it disappeared once she succeeded to realize growth in my business. This was due to she knew that this was an opportunity to take up . TOLERANCE OF RISK: Her application for loans were turned down by banks then - on three counts - biotechnology was then a new word, the company lacked assets, and (most importantly) women entrepreneurs were still a rarity. Today, her company is the bigget biopharmaceutical firm in the country. High risk was associated but she took the risk.

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SELF RELIANCE AND ABILITY TO ADAPT She believed that Indian women can do well in business even if they don't belong to a business family or have political influence or immense wealth. Kiran believed that women in India were not meant for only certain kind of jobs like teacher, nurse or personal secretary, or for running a small or cottage industry at the most. She considered herself a representative of the modern women who could work shoulder-to-shoulder alongside men and build mega businesses. Expressing a deep desire for equality, she said in her award acceptance speech, "I do hope that in the not-toodistant future, there will be one award for men and women alike - the Businessperson of the Year Award." The Entrepreneur

DERTERMINATION She is also part of the Prime Ministers Council on Trade & Industry in India and the US-India CEO Forum. Ms. Shaw also serves as Member, Governing Body and General Body of the Indian Pharmacopoeia Commission, an Autonomous Body of the Government of India. She is also a founder member of the Society for the formation of "Institute for Stem Cell Biology and Regenerative Medicine" and is Member of the Board of Trade, Directorate General of Foreign Trade, Ministry of Commerce & Industry. Ms. Shaw has most recently been nominated as Member, Round Table on Skills Development, Ministry of Human Resources, Department of Education, Government of India. LATERAL THINKING NEN Advisors Kiran Mazumdar-Shaw, Biocon What is NEN? Founded in 2002 by the Wadhwani Foundation, the National Entrepreneurship Network

25

(NEN) is a not-for-profit initiative with the goal of helping launch thousands of new entrepreneurs, who in turn will create hundreds of thousands of muchneeded valuable jobs for India. She always wanted to do something new for the young entrepreneurs and so she is associated with NEN. ANALYTICAL SKILLS Under her stewardship, Biocon has evolved from its inception in 1978 as an industrial enzymes company to a fully integrated Biopharmaceutical enterprise encompassing a well balanced business portfolio of products and services with a research focus on Diabetes, Oncology and Autoimmune disease. During this transition, Biocon has established 2 subsidiaries: Syngene (1994) to provide development support services for discovery research and Clinigene (2000) to cater to services in clinical development. SUPPORT FROM SIGNIFICANT OTHERS She is married to John Shaw, a Scotsman and Indophile, who headed a leading textiles MNC, Madura Coats from 1991-1998 as Chairman and Managing Director. John Shaw is currently the Vice-Chairman, Biocon Limited and supports her and her business.

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CATERING TO ALL NEEDS - Team members

THE STORY OF A MIDDLE CLASS WOMAN. How she became an entrepreneur Anita and Anuj had been married for over 15 years. They had three beautiful daughters, business was good, and they had little to complain about in life. Anita was happy to be a home maker and spent her time taking care of her family. Life did an about-turn one fine day, when Anita discovered to her horror, that Anuj had run up huge debts, business was running at a loss, creditors were queuing up outside the house and even their own house had been mortgaged! She was in a dilemma. The easiest way out was to rave and rant and achieve nothing. She could run away from the situation, but go where? Food had to be put on the table, bills had to be paid at the end of the month, education for her three girls had to continue. She could borrow money but how would she return it? What should she do? It was then that she took a bold step forward. She approached a well-to-do cousin and told him being a good cook herself, she would like to get into catering, but she needed financial assistance to start. He agreed, and bought her a fridge, freezer, cooking utensils and crockery. Her parents loaned her some money to tide her over the teething problems, and she hired one cook and got started. She first told friends and relatives, put up posters in schools, stores and offices. She really couldn't afford to advertise. She slogged whipping up delicious cakes, desserts, kebabs, butter chicken and

27

roghan josh on orders. Orders trickled in, but she could barely cover costs. Then came a dinner order from a friend, who was having a party for 50. Anita knew she could make it or break it! She hired waiters for serving, cooked everything to perfection with help from 3 hired cooks, hired serving dishes and somehow saw the order through! There was no looking back! Today, Anuj supervises the outdoor catering for parties, the girls help in the cooking / marketing / deliveries, she employs four cooks on a regular basis and earns enough to not only run her home, but also clear Anuj's debts little by little. Anita had the spirit and the drive. She chose to work out of home since she knew nothing better and had never worked before. Meticulous planning, frugal living and hard work have all paid dividends, as everyone in Delhi knows of "Saffron Caterers

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CONCLUSION
Entrepreneurship plays an important role in the economic growth and development of nation. It is a purposeful activity includes in initiation, promotion and distribution of wealth and service. An entrepreneur is a critical factor in economic development and an integral part of the socioeconomic transformation. It is a risk taking activity and challenging tasks, needs utmost devotion, total commitment and greater sincerity with fullest involvement for his personal growth and personality.

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