Entrepreneurship

Department of Post-Graduate Studies,Besant College, Mangalore

December 1, 2016

Definition of Entrepreneurship

• Entrepreneurship has traditionally been defined as the process of designing, launching and running a new business, which typically begins as a small business, such as a startup company, offering a product, process or service for sale or hire, and the people who do so are called 'entrepreneurs'

Tanti of Suzlon

Traditionally, Who?

• Coming up with a business idea• Putting in capital• Organising men and material• Filling up the marketing gap• Connecting consumers with productive mechanism• Making a profit through risk-taking

Broadening the Contours: Employees & Executives

• People coming up with ideas

• Establishing a good HR Practice

• Coming up with new processes

• Reducing the cost of existing products

• Enhancing the quality of products and services

• Enhancing consumer comfort

• Turn-Around Whiz-Kids• Venture Capitalist Anu Agha of Thermax Ltd

Individual Entrepreneur: the Best Model

• Made to Order• Freshness• Lower Price• Not damaging

environment• Protection of

Consumer Health• Open Production• Easy Access• Quick Service

Corporate Model: Corrupt Model• Disconnect with consumers• Indifferent to interests of

consumers• Demand creation at any cost• Damaging consumer health• Environmental Pollution• Health hazards for

employees• Breach of Government

Regulations

Impediments to Entrepreneurship• Hostile Government• Unenterprising Bureaucrats• Prejudice against business• Unjustifiable licensing

policy• Ever-changing taxation• Lack of infrastructure• Inter-departmental penalty• Lack of Entrepreneurial

perspective on the part of nation

Social Entrepreneurship

• Business that is socially relevant and run for a profit

1) Solid Waste Management2) Solar Energy and Reverse

Metering3) Micro-Power Generation4) Organic Farming5) Training Institutes6) Running orphanages &

old age homes7) Anti-corruption Bureau

and RTI Activism

Guide to Entrepreneurship

• Honesty and Integrity• Compassion for people

working for you• Not causing loss to any

counter-party to the contracts entered into

• Complying with Government Regulations voluntarily and doing more

• Avoiding unnecessary risks and costs

• Innovative• Shedding Hubris Jaswantiben Jamnadas Popat

Thank You