Dr. M.G. Sreekumar

Indian Institute of Management Kozhikode

Linking the Past to the Future

Dr. M.G. Sreekumar

Indian Institute of Management Kozhikode

Evolution of Indian Business

Linking the Past to the Future

Indian Entrepreneurship

in

Historical Perspective

Edwin F Gay’s stress on the

“disruptive innovative energy”

which breaks the

“cake of custom”

at a given point

in the “rhythm of history”,

still constitutes the

lowest common denominator in all the definitions

Entrepreneurial Behaviour

Entrepreneurship

• Response to the disequilibrium between the perceivable opportunities and their exploitation at any point of time

• Entrepreneur - The organizer of factors of production - Recognized as the central figure in economic development

• Entrepreneurial initiative is one of the principal elements in the economic growth of a society

• Hallmarks - Capacity to perceive new economic opportunities and take appropriate action to exploit them

• An evocative account of Indian entrepreneurship from the

dawn of civilization to the present

• Great Business and Economic Ideas that have Shaped

Commerce on the Indian Subcontinent

• Maps the trajectory of Indian enterprise with all its turns -

the Indian Business Saga

• Looks at the present transformed Indian economy which is

marching towards glory

• Seeks to instill confidence and inspire to push the envelope

of entrepreneurship

• A cultural background for work and a perspective to

training

• Real global leaders need to learn to analyse the world with an

open mind and think in terms of global and historical

perspective

• Significant activities and exploits that defined the contours of

Indian business from time to time

• Activities and exploits that set the tone, influenced the trends,

and impacted the process of transition

• How people experience the present is based on their

understandings of the collective past and

• Is reflected in the range of meaningful choices they see

shaping the future

2500 B.C.

Indus Valley

Civilization

4th Century A.D.

Gupta Dynasty

10th – 15th

Century A.D.

Invaders from

northwest:

Plundered wealth;

Never settled

1526 A.D.

Founding of

Mughal Dynasty

1600 A.D.

East India

Company

formed;

1619 A.D.

Trading Post

in Surat

1707 A.D.

Death of

Aurangazeb;

Mughal decline

begins

1757 A.D.

First major

EIC victory;

(Battle of

Plassey)

1857 A.D.

Sepoy

mutiny

1947 A.D.

“The Source of the livelihood (vritti) of men is wealth (artha), in

other words, the earth inhabited by human beings. The science

which is the means of the acquisition and protection of earth is

Arthashastra”

Arthashastra, I5.1.1-2

“In the happiness of his subjects lies the King’s happiness, in

their welfare, his welfare. He shall not consider as good only

which pleased him but treat as beneficial to him whatever

pleases his subjects”

Arthashastra, I.19.34

Arthashastra : World’s First Manual in Political Economy

1498

Merchants of the Company with the Charter

An Entry Showing Huge Amounts

of Trading in India

1st Century CE : Periplus of the Erythrean Sea

SEA-ME-WE 4

1000

30

1500

25

1700

22.6

3.8

1952

World Manufacturing Output: 1750 – 1938 (in %)

India-UK Manufacturing Output:

Year : 1000 – 1938 (in %)

0

5

10

15

20

25

30

1000 1750 1800 1830 1880 1913 1938

India

UK

India’s Ascent Through the Paradigm of

Seven Game Changers

• The green revolution of the sixties;

• The nationalization of banks in 1969;

• Operation flood in the seventies;

• The mid-day meal scheme of 1982;

• The economic liberalization of 1991;

• The software revolution of the nineties; and

• The passing of the Right to Information Act in

2005

• Feel of the Need / Necessity, Convincement;

• Ideation, Conceptualization, Scope, Objectives;

• Storyboard – Timeline, Actors, Location/s, Event/s, Frame/s, Treatment of Subject;

• Statement of Specifications, Tendering…

• Identification of Party, Partner/s, Contractor/s...

• Planning, Preparation of Estimates, Schedules…

• Technical & Working Drawings;

• Content Development Workshops;

• Design, Implementation, Upkeep & Maintenance