ENTREPRENEURSHIP

By
Dr. Saroj Kumar Sahoo
Who are these personalities
Dhirubhai Ambani alias Dhirajlal
Hirachand Ambani was born on December 28,
1932, at Chorwad, Gujarat, into a Modh
family. His father was a school teacher.
Dhirubhai Ambani started his entrepreneurial
career by selling "bhajias" to pilgrims in Mount
Girnar over the weekends.



After doing his matriculation at the age of
16, Dhirubhai moved to Aden, Yemen. He
worked there as a gas-station attendant, and
as a clerk in an oil company. He returned to
India in 1958 with Rs 50,000 and set up a
textile trading company.
Who are these personalities (cont.)
Born on June 7, 1975, Ekta Kapoor is daughter of
former Bollywood superstar Jeetendra. Ekta Kapoor
did her schooling from Bombay Scottish School and
later on joined Mithibai College. She was not
interested in academics and on the advice of her
father ventured into TV-serial production at the age of
19. And soon she changed the face of Indian television
industry and completely dominated it.



"Kyunki Saas Bhi Kabhi Bahu Thi" which began in
2000 and leading the TRP ratings in India. Her other
famous serials include "Kahaani Ghar Ghar Ki",
"Kahiin To Hoga", "Kavyanjali", "Kyaa Hoga Nimmo
Kaa", "Kasamh Se", "Kahin Kisii Roz", "Kasautii
Zindagi Kay", "Kkusum", "Kutumb", "Kalash", and
"Kundali".
At the age of 62, he spends his Sundays
on the Arabian Sea alternately with a jet
ski and a speedboat (his grandsons
Aryaan and Azaar.

We tell him Godrej products may be doing
well, but it's a bit hard to digest that the owner
of a Rs 5,500-crore (Rs 55 billion) group, who
can afford the best and the costliest products
in the world, uses only Godrej products. He
answers, slowly: "We are world class. If we are
not, we'd better be one -- fast."

Who are these personalities (cont.)
Making the dream true !!!!!


Who are these personalities (cont.)
Born on August 20, 1946, N.R. Narayana
Murthy is a B.E. Electrical from University of
Mysore (1967) and M.Tech from IIT Kanpur
(1969). Narayan Murthy began his career
with Patni Computer Systems in Pune. In
1981, Narayana Murthy founded Infosys
with six other software professionals. In
1987, Infosys opened its first international
office in U.S.A.
The word entrepreneur is derived from the
French verb enterprendre. It means to
undertake.
The term entrepreneur was applied to
business initially by the French economist,
Cantillon, in the 18
th
century, to designate a
dealer who purchases the means of production
for combining them into marketable products.
ENTREPRENEURSHIP may defined in
various ways, but the four key elements
involved in it are:

i. Innovation.
ii. Risk-taking.
iii.Vision.
iv.Organising skill.
ENTREPRENEURSHIP is the attempt to
create value through recognition of
business opportunity, the management of
risk taking appropriate to the opportunity,
and through the communicative &
management skills to mobilize human,
financial & material resources necessary to
bring a project to fruition.

(USA Conference .)

Definitions !!!!!!!!
Definitions !!!!!!!!
ENTREPRENEURSHIP is the
purposeful activity of an individual or
group of associated individuals,
undertaken to initiate, maintain
aggrandise profit by production &
distribution of economic goods and
services.

(A.H. Cole ..)

Definitions !!!!!!!!
ENTREPRENEURSHIP is doing things in a new
& better way and decision making under the
condition of uncertainty.
D.C. McClelland

ENTREPRENEURSHIP as the function of
foreseeing investment and production opportunity,
organizing an enterprise to undertake a new
production process, rising capital, hiring labour,
arranging the supply of raw material, and selecting
managers for day to day operation of the
enterprise.
Benjamin Higgins.....



WORKING DEFINITION
An entrepreneur is a person who
combines various factors of production,
processes raw material, converts the
raw material into a finished product and
creates utility and sells the products in
the market to earn profit.
ENTREPRENEURS ARE MADE AND
NOT BORN !!!!
Modern Society, Economy. Entrepreneurship
The entrepreneur in an advanced economy is an
individual who introduces something new in the
economy.
Entrepreneur is who innovates, raises money,
assembles input, chooses managers and sets the
organisation going with his ability to identify.

JOSEPH A. SCHUMPETER

Entrepreneur as one who always searches for
change, respond to it and exploits it as an
opportunity . Innovation is the specific tool of
entrepreneurs, the means by which they exploit
change as an opportunity for a different business
or services.
PETER DRUCKER
Modern Society, Economy. Entrepreneurship
(Cont)
Modern Society, Economy. Entrepreneurship
(Cont)
An entrepreneur is an economic man who tries to
maximize his profits by innovations.

Innovations involve problem- solving and the
entrepreneurs gets satisfaction from using his
capabilities in attacking problems.
E.E. HAGGEN

HOW PEOPLE BECOME AN ENTREPRENEUR ?

By Necessity and Opportunity, Design and
Default
Triggered by Social Disruption or Interruption
Entrepreneurs are created in good and bad
economic times.
Achievements and Financial Rewards for an
Entrepreneur.
Many begins but few make it.

ENTREPRENEUR TRAITS : Most important for
success:
Innovative & Opportunistic
Willingness to take risk
Initiative
Self reliance
Perseverance (keep trying to achieve
something)
Need to achieve
Self confidence



ENTREPRENEUR TRAITS : Important for success
Leadership
Competitiveness
Good physical health
Creative
High level of energy
Versatility


Ability to get along
Patience
Well organized
Desire for money
Tolerate uncertainty
Need for power
Need for affiliation



ENTREPRENEUR TRAITS least important for
success
Test Yourself !!
Larry Ellison Steps Down From
CEO Position At OracleWhy ?...

Clues
37 years oversee nearly every detail
at the company.
Current presidents Safra Catz and
Mark Hurd will take over as chief
executives.
Test Yourself !! Larry Ellison Steps Down
(Cont..)
Ellison, who with $51.3 billion is the worlds fifth
richest person.
Oracle stock turned red following the after hours
announcement, shares were down about 2.5% to
$40.50. Prior to the announcement Oracle shares
were up 8.6%.
Ellison was one of the last remaining founder-CEOs
of such technology industrys old school
powerhouses as Microsoft (MSFT), Apple (AAPL),
and Intel (INTC) and his departure certainly caps off
an era. Ellison turned 70 last month.
Test Yourself !! (By Other end....)
Mr. Vishambhar Saran Founded VISA
Group in April 1994 .. After serving 25
years in TATA steel. Why !!!!
Clues
Rose to the position of Director Raw Materials,
Tata Steel in 1988 & Director of Budgets in 1993.
He availed voluntary retirement from 1st April,
1994. And in the same month & year founded VISA
steel.
Sons: Vishal, MD - VISA Steel, Vikas , MD - VISA
Power, Vivek, MD VISA Resources (the trading
unit).


Shri Sarat Kumar Sahoo
Leading manufacturer & Exporter of renowned
quality Spices, Vermicelli & Pasta products
Company : M/s. Om Oil & Flour Mills Ltd.
The installed capacity of SPICES DIVISION is
4950 MT per annum.
Equipped with state-of-the-art equipment and
managed according to international food
standards.
Meritorious/poor students, social workers,
eminent scientists, artists and athletes are
annually honored with suitable awards and
scholarships RUCHI SAMMAN / PRATIVA


You are well-come ..


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