Entrepreneurship Runs In The Blood

Presented By (Group 3) Ankita Khare-42 Divya Sahijwani-38 Himani Goel-02 Ishita Jain-52 Jayant Chhabra-28 Pallavi Jain-06

Who is an entrepreneur?
"An entrepreneur is someone who dares to dream the dreams and is foolish enough to try to make those dreams come true."

Entrepreneurship is in blood
o Some people are born with natural talent and risk tolerance, entrepreneur-ship skills can be learned by everyone o Not every person is innovative. This trait is possessed by very few people. o Innovation comes naturally i.e. No one can infuse innovation in any persons mind. o 75% of a person's traits are imbibed genetically and the rest 25% are imbibed by environmental surroundings.

DNA of Entrepreneurial model

Entrepreneurial DNA
o Ability to make quality decisions at appropriate time is vital in entrepreneurship and no one can teach us this ability. o Of course one can learn from various experiences but the ability to make correct decisions comes naturally. o Passion, the most important trait of entrepreneurship cant be taught or infused in someones mind.

Motives behind pursuing entrepreneurship

Life experiences Family upbringing Career crisis -- such as getting fired or laid off Logical way out of a frustrating job or a career Insatiable desire to pursue interests

 If a person is an entrepreneur then it is likely that his descendants are entrepreneurs too.

JAMSETJI TATA

JRD TATA

RATAN TATA

Ambanis

BIRLA Family

Henry Ford-a born entrepreneur

o On his 11th birthday, Henry was given a watch that fascinated him to the extent that 1 year later he constructed his own time piece and endeavored to sell them to everyone for $1 a piece. Loved to tinker with things I do not believe a man can ever leave his business. He ought to think of it by day and dream of it by night.

Innovation was in his blood

o In 1893 he created his first gasoline driven buggy or Quadricycle that was completely self propelled. o He demonstrated mechanical ability and a preference for learning by hit and trial.

Tenacity despite failure

He then started the Detroit Automobile Company but the company went bankrupt soon after.

Ford then started the Henry Ford Company, which he also left, before eventually starting the Ford Motor Company in 1903.

Born Visionary
o Henry Ford was determined to build a simple, reliable and affordable car; a car the average American worker could afford. o Out of this determination came the Model T and the assembly line - the two innovations that revolutionized American society and molded the world we live in today.

Steve Jobs
o Was an American businessman and inventor widely recognized as a charismatic pioneer of the personal computer revolution o Co-founder, chairman, and chief executive officer of Apple Inc

Bill Gates
o o o o former CEO and current chairman of Microsoft wealthiest American and the second wealthiest person best-known entrepreneurs of the personal computer revolution criticized for his business tactics

Entrepreneurship as an academic discipline

The very fact that entrepreneurship has become o An area of academic pursuit and research o And is rigorously and widely taught in top-flight MBA and even bachelors programs indicates that many of us believe that entrepreneurship can indeed be learnt.

EDPS
o EDPs inculcate relevant attributes ignite the dormant skills , change the outlook an d convert the ideas into action through the systematic and organized training. EDI,AHMEDABAD

Entrepreneurs are also made

o Entrepreneurial talents by themselves are like unmoulded clay or an unpainted canvas. o The making of an entrepreneur occurs by accumulation of the relevant skills, know-how, experiences and contacts acquired over a period of years and includes large doses of self-development.

Passion is not by birth

Azim Premji Azim: o Chairman of Wipro Technologies, one of the largest software companies in India. o An icon among Indian businessmen and his success story is a source of inspiration to a number of budding entrepreneurs. .

Sunil Bharti Mittal: o An Indian telecom mogul, philanthropist and the founder, chairman and Group CEO of Bharti Enterprises o The US$8.3 billion turnover company runs India's largest GSMbased mobile phone service and world's fifth largest wireless company with over 190 million customers across 19 countries in Asia and Africa. o Was one of the first Indian entrepreneurs to identify the mobile telecom business as a major growth area o Mittal has also been working towards educating India through the Bharti Foundation

Passion is not by birth/in blood

Food KingSARATH BABU-29 CEO- Foodking Catering Services
Grew up in abject poverty Used to sell idlis on street Did not compromise on studies Chemical engg. at BITS Pilani, MBA IIM Started its operations on May 16th, 2006 by supplying snacks to corporate sectors, banks and software firms. o Turnover-7crores o o o o o

Best Young Entrepreneurs Of India

o Murugavel Janakiraman(38):Launched BharatMatrimony.com in 1997. Today it is the premiere Indian matrimonial portal on the Internet. The Asia Indian Chamber of Commerce has honored him as one of the top five Asian Indian businessmen in the United States. o Vijay Shekhar Sharma: Founder of One97, a telecom products and services company in 2000. With an Engg. Degree from DCE, he is the quintessential entrepreneur with many successful ventures.

Best Young Entrepreneurs Of India

o Yangdup Lama: A certified bar and beverage trainer, is a bar consultant for several international spirit brands in India. After leaving his job of bartender Lama launched a bar and beverage management company in 2003 .

o Nalin Khanduri: Founded Great Indian Outdoors in 2000, a leading outdoors company destined to become Indias first adventure/outdoors corporation.

E&Y Report
o An Ernst & Young report released on 2 June,2011 : Nature or nurture: Decoding the entrepreneur , based on survey of 685 entrepreneurs worldwide provides insights into the shared characteristics, frustrations and career goals of some of the worlds leading entrepreneurs.

Key Findings
o Entrepreneurial leaders are made, not born. o Entrepreneurship is rarely a one-off decision. o Funding, people and know-how are the biggest barriers to entrepreneurial success. o Entrepreneurs share common traits. o Traditional companies can learn from entrepreneurial leaders.

E&Y Findings
o There is no entrepreneurship gene o Most entrepreneurial leaders start at a young age

E&Y Findings
o More than half of entrepreneurial leaders are transitioned from employees.

E&Y Findings
o 33% entrepreneurs rate experience as number one success factor.

Conclusion from E&Y Research

Nurture not nature does appear to be more important in shaping the entrepreneurial mindset. - Maria Pinelli, Vice Chair E&Y

Our Conclusion
o There are important entrepreneurial skills that can be learned. Chief among these is the ability to see and articulate a vision, as well as to build and motivate a team. o There are other critical skills that are innate and difficult to learn like leadership qualities, inner strength, risk-taking capacity, innovation, ability to make correct judgment. Thus, a part of entrepreneurship is in blood and a part of it is not in blood.