Business Planning and

Entrepreneurial Management

Faculty : Dr. Arun Poojari

By Dr. Arun Poojari

 Business Planning & Entrepreneurial
Management SYBMS-III I
Foundations of Entrepreneurship Development:
 Concept and Need of Entrepreneurship Development
 Definition of Entrepreneur, Entrepreneurship,
 Importance and significance of growth of entrepreneurial activities
 Characteristics and qualities of entrepreneur

Theories of Entrepreneurship:
 Innovation Theory by Schumpeter &Imitating
 Theory of High Achievement by McClelland
 X-Efficiency Theory by Leibenstein
 Theory of Profit by Knight
 Theory of Social change by Everett Hagen

External Influences on Entrepreneurship Development:

 Socio-Cultural, Political, Economical, Personal.
 Role of Entrepreneurial culture in Entrepreneurship Development.
By Dr. Arun Poojari
 Who is an Entrepreneur

• An Entrepreneur is person who organizes and

manages a business undertaking assuming risk for
the sake of profit .

• Any person one who starts and operates business is

an entrepreneur .

• Is someone who spots an opportunity and is willing

to do something new and challenging with the risk
of failure.
By Dr. Arun Poojari
 What is an Entrepreneurship
• Process of becoming an entrepreneur

• Entrepreneurship is the act of being

entrepreneur, who starts any economic
activity for being self employed.

• It is an attempt to create value through

recognition of business opportunity
By Dr. Arun Poojari
 What is an Enterprise

• The place from where the business is carried

• Entrepreneurial activities

• Foundation of whole of business architecture

By Dr. Arun Poojari

Entrepreneurship Development

Person Entrepreneur

Process Entrepreneurship

Output Enterprise

By Dr. Arun Poojari

 Intrapreneur
• An Intrapreneur is an employee of a company who
works to create new business opportunities or
products for the company in the style of an
entrepreneur.

• A professional at a company who uses his or her

talent and skills to lead the launch of new products,
services, projects, business lines, etc. with an
entrepreneurial mindset. 

By Dr. Arun Poojari

By Dr. Arun Poojari
 Inventors and innovators.
The difference
There is a clear distinction between an inventor and an innovator (or an invention and
an innovation) that is not often seen by many people, thinking that they are one and the
same. Invention is the creation – or introduction for the first time – of something
completely new and has not been seen anywhere in the world, ever. It could be
something tangible like a product, tool, or equipment, or intangible such as a process or
service. Meanwhile, innovation is the process of coming up with something new, but is
primarily an improvement, enhancement or modification of an existing product or
process, thereby increasing its value.
The creative entrepreneurs that we will be looking at later in this article are either
inventors or innovators, or both. Their creations have left such a huge impact, even long
after they have died or stepped away and ceased involvement with their inventions or
innovations.

By Dr. Arun Poojari

By Dr. Arun Poojari
Creativity, Innovation and
Entrepreneurship

Entrepreneurship

Innovation
Creativity

By Dr. Arun Poojari

By Dr. Arun Poojari
 ICE Methodology
Entrepreneurship EXECUTION

TEAM

Product

Creativity IDEA Innovation

Product
Individual
Process
Social
Group
IT enabled
Business model
Organization

By Dr. Arun Poojari

By Dr. Arun Poojari
THOMAS ALVA EDISON

He was the founder of the giant General Electric

Corporation  

Thomas Alva Edison will forever be known as

“that guy who invented the incandescent light
bulb and the phonograph” and the one who said
the famous quote, “Genius is 1% inspiration
and 99% perspiration”. But this American
inventor was more than that; he was also one of
the savviest businessmen and entrepreneur of
his time, coming out with inventions and
innovations that have become so widespread,
their benefits are still being reaped

By Dr. Arun Poojari

 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

By Dr. Arun Poojari

 STEVE JOBS

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.

By Dr. Arun Poojari

 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.

By Dr. Arun Poojari

 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.
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.

By Dr. Arun Poojari

 Not seeing an opportunity
Don’t see : Cannot see at its nascent stage
Foresight

Don’t care : Don’t take it seriously once seen

Explore ignored market

By Dr. Arun Poojari

 Top 10 Richest Entrepreneurs in 2020

Jeff Bezos

Born in 1964, Jeff Bezos is the founder & CEO of the e-commerce giant Amazon.
With a net worth of $131 Billion, he tops the list of richest entrepreneurs. He
founded Amazon as an online bookstore in the year 1994. After that, there was no
looking back for Bezos as he kept adding new categories of products. Today,
Amazon is not only world’s largest online shopping platform but also has
diversified interests in many other businesses like Amazon Web Services, Alexa,
Junglee, Audible etc.
By Dr. Arun Poojari
 Qualities of Jeff Bezos
• Knack for Innovation
• Hardcore Realist
• Staunch Experimentalist
• Form a Plan
• Risk Taker
• Generous for a Good Cause
• Highly Competitive

By Dr. Arun Poojari

 Bill Gates

Bill Gates is the founder of the PC software firm Microsoft corporation. With a net
worth of $97 billion, Gates is at number second on the list. He is widely credited
as one of the pioneers who revolutionized the personal computing industry with
Microsoft’s operating system ‘Windows’. Started in 1975, Microsoft now has
diversified interests in various companies including Skype, LinkedIn, Yammer,
Microsoft Mobile (Earlier known as Nokia). He is also actively involved in various
philanthropic projects.

By Dr. Arun Poojari

 Qualities of Bill gates
• Philanthropist
• Highly Competitive
• Voracious Reader
• Gates knows how to Prioritize
• Bill Gates believes in his Ideas
• Smart Worker
• Result-Oriented
• Focused
By Dr. Arun Poojari
 Warren Buffet

Warren Buffet is one of the most successful investors of our time. With a net worth
of $82 billion, he is at the number 3 spot on this list. He owns Berkshire Hathaway
which owns more than 60 companies including Geico & Duracell. He has pledged to
donate 99% of his wealth towards charities.

By Dr. Arun Poojari

 Qualities of Warren Buffet
• Patience
• Discipline
• Leadership
• Thirst for knowledge
• Free-thinking (forming your own opinion) 
• Focus

By Dr. Arun Poojari

 Mark Zuckerberg

Mark Zuckerberg is the famous co-founder & CEO of the social network Facebook.
With a net worth of $62 billion, he is 8th on this list (also the youngest). Since its
inception in 2004, Facebook has grown leaps & bounds. Recently, Facebook
acquired social network & messenger apps called Instagram & WhatsApp
respectively. Zuckerberg has pledged to donate 99% of his Facebook holdings
towards charity.

By Dr. Arun Poojari

 Qualities of Mark Zuckerberg
• He has a vision.
• He goes beyond his comfort zone.
• He is willing to make mistakes.
• He is willing to face criticism.
• He adapts to situations quickly.
• He doesn't need to control everything.
• Critical thinking and problem soloving

By Dr. Arun Poojari

 Mukesh Dhirubhai Ambani

Mukesh Dhirubhai Ambani is an Indian billionaire business magnate, and the

chairman, managing director, and largest shareholder of Reliance Industries
Ltd., a Fortune Global 500 company and India's most valuable company by
market value. NET WORTH 8500 crores

By Dr. Arun Poojari

 Qualities of Mukesh Ambani
• Let your work speak for itself
• Have a dream
• Trust all, but depend on none
• Risks give greatest lessons
• Trust your gut instincts
• Be hungry, be impatient
• Don't panic, stay strong
• Credibility carries high premium.

By Dr. Arun Poojari

 Ratan N Tata

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.
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.
By Dr. Arun Poojari
 Qualities of Ratan Tata
• Have a dream. ...
• Be humble
• Never give up on values
• Take Risks
• Motivate others
• Have faith In yourself
• Be open to criticism
• Use creative tendencies
• Get out of the safe mode
• Don’t put all your eggs in one basket
By Dr. Arun Poojari
 Narayan Murthy

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 13 thamong 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
By Dr. Arun Poojari
 Qualities of Narayan Murthy
• Never giving up
• Risk taking ability
• Values
• Sharing is Caring
• Enhancing trust 
• Governance
• Always a Learning Person
• Getting Rich but Honestly 
• Being positive
By Dr. Arun Poojari
 Azim premji

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 Azim premji (24 July 1945 ) is a graduate
in Electrical Engineering from Stanford University, USA has been taken 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 recognized by Business Week as one of the Greatest Entrepreneurs for being
responsible for Wipro emerging as one By Dr.of the
Arun world’s fastest growing companies.
Poojari
 Qualities of Ajim Premji
• Be far-sighted
• Know your strength
• Stick to your values
• Stay grounded
• Have faith
•  Learn to work in teams
• Trust your gut instincts
• Never lose your zest and curiosity
By Dr. Arun Poojari
 Dr.Verghese Kurien

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 its Formed 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.

By Dr. Arun Poojari

 Qualities of Dr. Kurien verghese

• Visionary
• Dedication
• Determination
• Innovative thinking
• Respect for all
• Working in team
• Ability to drive

By Dr. Arun Poojari

 Rahul Bajaj

Rahul Bajaj is an Indian billionaire businessman and philanthropist. He is the

chairman of the Indian conglomerate Bajaj Group and a member of
parliament. Bajaj comes from the business house started by Jamnalal Bajaj.
He was awarded the third-highest civilian award Padma Bhushan in 2001.

NET WORTH 430 Crore USD DOLLAR

By Dr. Arun Poojari

 Qualities of Rahul Bajaj
• Honesty
• Visionary
• Foresight
• Passion
• Discipline

By Dr. Arun Poojari

 QUALITIES OF AN ENTREPRENEUR
• Foresight
• Passionate
• Motivated
• Optimistic
• Persuasive
• Risk taking ability
• Strong leadership
• Discipline
• Strong social skills
By Dr. Arun Poojari
CHARACTERISTICS OF ENTREPRENEURSHIP

• Ability to create enterprise

• Organizing function
• Innovation
• Risk bearing capacity
• Managerial and leadership functions
• Gap filling

By Dr. Arun Poojari

 ENTREPRENEURIAL TRAITS
• Mental Ability
• Clear Objectives
• Business Secrecy
• Human Relations Ability
• Effective Communication
• Technical Knowledge
• Decision making
• Risk-bearing
By Dr. Arun Poojari
 NEED FOR ENTREPRENEURSHIP
DEVELOPMENT
• Creation of employment opportunities
• Capital formation
• Balanced regional development
• Use of local resources
• Improvement in per capital income
• Increase in GDP
• Economic Growth
• Social stability
By Dr. Arun Poojari
EMPLOYMENT OPPORTUNITIES

• Reliance industries :2 Lacs

• IOC Ltd” :40 K
• ONGC :34 K
• SBI :2.5 lacs
• Tata Motors : 83 K
• BPCL : 12 K
• HPCL : 10 K
• Tata Steel : 32 K
• Coal India : 2.72 lacs

By Dr. Arun Poojari

 TYPES OF ENTREPRENEUR
• Innovative Entrepreneur
• Adoptive Entrepreneur
• Fabian Entrepreneur
• Drone Entrepreneur

By Dr. Arun Poojari

 ENTREPRENEURSHIP AS CAREER OPTION

WAGE EMPLOYMENT ENTREPRENEURIAL EMPT

NATURE SELF SATUATING Self Generating
SCOPE LIMITED UNLIMITED
ORIENTATION ROUTINE CREATIVE
STATUS QUO INNOVATIVE
PROBLEM AVOIDING PROBLEM SOLVING
DEPENDENT INDEPENDENT DECISIONS

CONTRIBUTION CONSUMES NATIONAL GENERATES NATIONAL

WEALTH WEALTH
EARNING FIXED GROWING (GENERATING
SURPLUS)

By Dr. Arun Poojari

 QUALITIES IN YOU ????
• Do you have a strong desire to be a winner?
(NEED TO ACHIEVE):

• Do you have a quality of stick-to-it?

(PERSEVERANCE):

• Do you prefer a middle of the road strategy

when you have analyzed a risky problem
objectively and think you can solve it?
(MODERATE RISK TAKER)
By Dr. Arun Poojari
• Are you alert to opportunities? Do you seize and
convert them to your advantage?
(ABILITY TO FIND AND EXPLORE OPPORTUNITY)
• Are you unaffected by personal likes and dislikes
while approaching problems? (ANALYTICAL
ABILITY)
• Do you find it important to know how you are
doing, when you are working on a goal or a task?
(USING FEEDBACK)
• Do you welcome tacking an unfamiliar but
interesting situation?
(FACING UNCERTAINTY)
By Dr. Arun Poojari
• Do you have a dislike for working for others? (INDEPENDENCE)
• Are you flexible in your decisions?
(FLEXIBILITY):
• Do you think ahead, plan your future and then work to make it
come true?
(PLANNER):
• Are you comfortable while dealing with people at all levels?
(INTERPERSONAL SKILLS)
• Can you influence others?
(MOTIVATOR)
• you capable of working for long hours and tackling different
problems at the same time?
(STRESS TAKER):
Are you aware of yourself? (POSITIVE SELF CONCEPT)
• Do you tend to think ahead? (ORIENTATION TO FUTURE)
By Dr. Arun Poojari
 FUNCTIONS OF AN ENTREPRENEUR

• Risk taking and Uncertainty Bearing

• Taking Business Decisions
• Managerial Functions
• Innovation
• Expansion
• Maintaining cordial employer-employee
relations
• Co-ordination with outside agencies.
By Dr. Arun Poojari
 Theories of Entrepreneurship
 Entrepreneurship: A Function of Innovation: by Schumpeter

 Entrepreneurship: A Function of Group Level Pattern:

Theory by Frank W. Young

 Entrepreneurship: A Function of High Achievement :McClelland

 Entrepreneurship: ‘Input-Completing’ and ‘Gap-Filling’

Function :Liebenstein (1968)

 Risk bearing theory of Knight

By Dr. Arun Poojari

Theories of innovation

by Schumpeter

By Dr. Arun Poojari

Entrepreneurship: A Function of Group Level Pattern:
Theory by Frank W. Young

By Dr. Arun Poojari

By Dr. Arun Poojari
By Dr. Arun Poojari
By Dr. Arun Poojari
EXTERNAL INFLUENCES ON ENTREPRENEURSHIP
DEVELOPMENT:
The emergence and development of
entrepreneurship is not a spontaneous one but a
dependent phenomenon of economic, social,
political, psychological factors often
nomenclature as supporting conditions to
entrepreneurship development. These conditions
may have both positive and negative influences
on the emergence of entrepreneurship.

By Dr. Arun Poojari

 ECONOMIC, SOCIAL, PSYCHOLOGICAL,
POLITICAL
ECONOMIC INPUTS
• Capital
• Labour
• Raw Materials
• Market
• Infrastructure

By Dr. Arun Poojari

ECONOMIC, SOCIAL, PSYCHOLOGICAL, POLITICAL

SOCIAL INPUTS
 Caste Factor
 Family background:
 Education,
 Cultural Values
 Attitude of the Society

PSYCHOLOGICAL INPUTS
 Need Achievement ,
 Motives

POLITICAL INPUTS
 Agenda of Ruling party

By Dr. Arun Poojari