ENTREPRENEURSHIP

Emerging Opportunities & Challenges
DR. M. A. ZAHIR
CHAIRMAN, SYNETIC BUSINESS SCHOOL, LUDHIANA

ENTREPRENEURSHIP
ENTREPRENEURSHIP AND SELF EMPLOYMENT

VERY IMPORTANT : INDIA’S ADVANTAGE Industrialization, Economic Development and Entrepreneurship go together TO BE DISCUSSED IN RIGHT PERSPECTIVE

INDIA’S SOCIO-ECONOMIC SCENARIO: 4 ASPECTS

GROWTH: 7-9% (5.5% on an average for next 4 decades…..) FULL EMPLOYMENT: Quite a large number through SELF-EMPLOYMENT and Entrepreneurship – throughout the value chain: Suppliers, Logistics, Distribution, Trading, Services…… RISING MIDDLE CLASS: With disposable income – New Needs, New demands, New Markets….. DEMOGRAPHIC FEATURES (POPULATION): 70% 35 years or less. Required : Education & Skill Developments

ENTREPRENEURSHIP & BUSINESS DEVELOPMENT
SMEs & ENTREPRENEURSHIP GO TOGETHER

THERE ARE 5 ASPECTS:  RISK: There is no such thing as risk less strategy or business. RISK – RETURNS…Achievement Motivation

CAPITAL : FINANCE OPERATIONS….

SIZE OF

TECHNOLOGY : Latest OR Appropriate
Conti…

ENTREPRENEURSHIP & BUSINESS DEVELOPMENT: 4. MANAGEMENT:
    

Planning & Control Cost Product Development Marketing Working Capital Management.

Conti…

ENTREPRENEURSHIP & BUSINESS DEVELOPMENT

“Entrepreneurship is essentially a creative activity” ….Joseph A.
Schumpeter

5. INNOVATION : An Idea Economy

Something New & Different [Research & Development] Recombination; New Linkages Examples: Condensed Milk, Neva Quilt, Nirma, Noodles (Maggi), Sachet Conti… (Affordability)

ENTREPRENEURSHIP & BUSINESS DEVELOPMENT:

INNOVATION

ENTRY BARRIERS
    

Patent or IPR Complex Technology / Know-how Large Investment Secret Formula / Process Branding

GROWTH VECTOR

:

DIRECTION OF GROWTH
1. Market

Penetration 2. Product Development 3. Market Development 4. Diversification Concentric Conglomerate

BLUE OCEAN STRATEGY
[W. ChanKim & Renee Mauborgne]
“….Creating Uncontested Market Space and Making the Competition Irrelevant: - Eg. NANO CAR

  

New Emerging Segments/ Needs Niche Market : High End/ Low End Bottom of the Pyramid – Opportunities Outsourcing: Leveraging Brand Equity OEM – Ancilliarisation

ENTREPRENEURSHIP & FAMILY BUSINESS
 Family

Values

 Professionalisation  Succession

Planning