Sie sind auf Seite 1von 8

ENTERPRENEURSHIP

INTRODUCTION- Entrepreneurship is the implementation of an individual's talent in the resources in which he is available with; and expanding these resources in the future so that one can get individual as well as general i.e. social success. It comes from the French verb 'entreprendre' which means 'to undertake.' Entrepreneurship is the act and art of being anentrepreneur or one who undertakes innovations or introducing new things, finance and business acumen in an effort to transform innovations into economic goods. This may result in new organizations or may be part of revitalizing mature organizations in response to a perceived opportunity. The most obvious form of entrepreneurship is that of starting new businesses (referred as Startup Company); however, in recent years, the term has been extended to include social and political forms of entrepreneurial activity. When entrepreneurship is describing activities within a firm or large organization it is referred to as intra-preneurship and may include corporate venturing, when large entities spin-off organizations

MEANING- What is entrepreneurship? You probably think that the answer is obvious, and that only an academic would bother to ask this question. As a professor, I suppose I am guilty of mincing words. But like the terms "strategy" and "business model," the word "entrepreneurship" is elastic. For some, it refers to venture capital-backed startups and their kin; for others, to any small business. For some, "corporate entrepreneurship" is a rallying cry; for others, an oxymoron. The history of the word "entrepreneurship" is fascinating and scholars have indeed parsed its meaning. I'll spare you the results, and focus instead on the definition we use at Harvard Business School. It was formulated by Professor Howard Stevenson, the godfather of entrepreneurship studies at HBS. According to Stevenson, entrepreneurship is the pursuit of opportunity beyond resources controlled. DIFINITION- The Road to Self Sufficiency guide defines entrepreneurship as: the process of finding and evaluating opportunities and risks, and developing and executing plans for translating those opportunities into financial self-sufficiency." Among the many definitions of entrepreneurship, there are some commonalities such as the following:

Entrepreneurs have certain identifiable personality traits including risk taking, commitment, vision, and perseverance. Entrepreneurs undertake certain identifiable activities such as evaluating and developing ways to manage risk in order to gain a payoff. Entrepreneurs work alone or with only a few others to achieve an outcome. Entrepreneurs gain outcomes as a result of their activities such as a new business venture or wealth

Chairman of Bajaj Group of Companies, Bajaj Auto Ltd Objective

Rahul Bajaj is one of the veteran industrialists who has got a rich business experience in various industries and has chaired the managements of various companies in diverse fields Rahul Bajaj is the Chairman of the Bajaj Group, which ranks among the top 10 business houses in India Mr. Bajaj served as the Chief Executive Officer of Bajaj Auto Ltd. since 1968 Rahul Bajaj became a Member of Parliament through the Rajya Sabha Bajaj feels that the world has become a seamless place to live in and that liberalization of the economy during 1991-93 was handled exceptionally well

Chairman of Bajaj Group of Companies, Bajaj Auto Ltd

Rahul Bajaj born 10 June 1938 is a prominent Indian industrialist and member of the Indian Parliament. He comes from the business house started by a Rajasthani Marwadi businessman Jamnalal Bajaj. He is 72 years old now and has one brother, Shishir Bajaj and 3 cousins, Shekhar, Madhur and Niraj together with whom he controls the Bajaj Group of companies. Also, he has two sons Rajiv & Sanjiv and a daughter, Sunaina Kejriwal. The US$ 1.32 Billion Bajaj Auto is his flagship company. He resides in Pune, India.

Mr. Bajaj is an Honours Graduate (BA) in Economics from Delhi University, Degree in Law (LLB) from Bombay University and a Business Graduate (MBA) from the Harvard Business School. He has studied at St. Stephen's College(Delhi), Government Law College(Mumbai) and Cathedral and John Connon School.

Corporate Portfolio

Rahul Bajaj is the Chairman of the Bajaj Group, which ranks among the top 10 business houses in India. The Bajaj Group has diversified interests ranging from automobiles, home appliances, lighting, iron and steel, insurance, travel and finance. Rahul Bajaj is one of India's most distinguished business leaders and internationally respected for his business acumen and entrepreneurial spirit.

Mr. Rahul Bajaj presently serves as an Executive Chairman and Head of Bajaj Group of Companies of Bajaj Auto Ltd. Mr. Bajaj served as the Chief Executive Officer of Bajaj Auto Ltd. since 1968. He served as Managing Director of Bajaj Holdings & Investment Limited until March 31, 2005. He served as Deputy General Manager of Bajaj Tempo Limited. Mr. Bajaj serves as Chairman of the Board of Bajaj Finserv Ltd., Bajaj Allianz Life Insurance Company Ltd., and Bajaj Allianz General Insurance Co. Ltd. He has been the Chairman and Director of Bajaj Auto Finance Ltd. since July 26, 1972. He has been Non-Executive Chairman and Non-Executive director of Bajaj Holdings & Investment Limited since February 20, 2008. Mr. Bajaj serves as Director of Bajaj Finserv Ltd.

Other Portfolio

Mr. Bajaj served as Non-executive Chairman of Maharashtra Scooters Ltd., until October 18, 2006. He served as Chairman and Director of Mukand Ltd. until July 2007 and served as its Director until July 28, 2010. He serves as a Member of Executive Board at Indian School of Business. He served as a Director of National Aviation Company of India Limited. He served as a Member of Governing Board of Indian School of Business. He serves as a Member of International Advisory Committee of NYSE Euronext, Inc. (Formerly New York Stock Exchange, Inc.). Mr. Bajaj served as the President of Confederation of Indian Industry . He also served as President of Society of Indian Automobile Manufacturers (SIAM) and Mahratta Chamber of Commerce, Industry And

Agriculture (MCCIA) and the Chairman of the Development Council for Automobiles and Allied Industries. He served as Chairman of the Government owned domestic carrier, Indian Airlines from 1986 to 1989. Mr. Bajaj serves as Co-Chairman of the Board of Commonwealth Business Council. He served as Chairman of the International Business Council of the World Economic Forum, Geneva and serves as its Member.

Rating on the List of Forbes Billionaires

Rahul Bajaj was ranked 880th in the Forbes list of Worlds Billionaires as of March 2010 with a net worth of US $1.1 Billion dollars. His fortune has been inherited and is exponentially increasing in the recent years. He is ranked 22nd in Indias richest people according to Forbes magazine. Achievements

He established factories at Akurdi and Waluj. In 1980s Bajaj Auto was top scooter producer in India and its Chetak brand had a 10-year waiting period. Rahul Bajaj became a Member of Parliament through the Rajya Sabha. His company how-ever is being handled very well in the safe hands of his son Rajeev.

The recession and stock market collapse of 2001 hit the company hard and it was predicted that the days of Bajaj Auto were numbered. However, Bajaj Auto re-invented itself, established a world-class factory in Chakan, invested in R&D and came up with Bajaj Pulsar Motorcycle. Bajaj Pulsar is currently a leader in its segment.

Under his stewardship, the turnover of the Bajaj Auto company has risen from Rs.72 million to Rs.46.16 billion.

He was elected to the Upper House of Parliament (Rajya Sabha) in June 2006. President of India nominated Mr. Bajaj as the Chairman of the Board of Governors of the Indian Institute of Technology, Bombay on 12th May, 2003.

In 1975, Mr. Bajaj received the "Man of the Year" award from the National Institution of Quality Assurance. He was selected as Business India's Businessman of the year 1985. In 1988, he was felicitated for his achievements in a public function by the Pune Municipal Corporation. He received the Bombay Management Association Award for the most distinguished services in the field of management in 1990. He was awarded FIE Foundation, the Rastrabhushan Award in 1996. Lokmanya Tilak Smarak Trust awarded Mr. Bajaj the Lokmanya Tilak Award in 2000.

He was awarded the 'Padma Bhushan' by the President of India in March 2001. He was awarded the Jeevan Sadhana Gaurav Puraskar by the Pune University for 2002 and he was the first person to be inducted by the ICICI Bank and the leading automotive magazine, Overdrive, in the Indian Automotive Hall of Pride - 2003. Mr. Bajaj received both Economic Times and Ernst & Young Life Time Achievement Awards in 2004. Degree of Doctor of Letters (Honoris Causa) was conferred on Mr. Bajaj by the Rani Durgavati Vishwavidyalaya (formerly Jabalpur University) in March 2005. He was also conferred the degree of Doctor of Arts (Honoris Causa) by IIT Roorkee and the Alumni Achievement Award by the Harvard Business School, both in September 2005. The Business Tycoon Speaks

Bajaj feels that the world has become a seamless place to live in and that liberalization of the economy during 1991-93 was handled exceptionally well. The biggest problem with the country is its apathy to creating wealth. Rahul Bajaj feels that the bloated structures and the unproductive systems need to be dismantled. The need of the hour is efficient mechanism with free and fair competition.

Tips from the master for entrepreneurs a. Listen effectively b. Think like an entrepreneur c. Cross functionality d. Smart work combined with hard work

Mr. Bajaj also talks on the black money stacked in hidden accounts in foreign banks. He says that it is very difficult to prosecute those Indians who have hidden their black money in foreign accounts. It will take many years for the judgment and therefore he is of the opinion that the disclosure of their names at present will not serve any purpose. Instead, he suggests that a new law be passed wherein their money must be taxed on higher rates and if they abide by it then no questions will be asked to them regarding their wealth. They be given certain amount of time to bring their money back and even then if they fail to do so then their names be disclosed to the public at large and they be punished to the maximum

WAY OF MOTIVATION,REWARDING
He has different view about his employees ,he did not have a great concern towards them Attitude towards workers: Bajaj has less kind of words for workers. Still, there has been only one strike in the history of 35 years of the company. He takes care of the needs of the workers and at the same time, he views workers as a tool for production. In his word Why do they strike and lose wages? They should work more, earn more

BAJAJ group came to know they are lag in employees care when compared to other companies so they are trying to implement employee welfare activities like sports, clubs, entertainment, fitness programmes

They conclude that in todays world where Management, Leadership and Motivation are being redefined. In today's ultra-competitive business environment leadership is about building winning characteristics in to the organization so that achievement levels exceed normal expectations. Leadership is about doing things that Management does not define.

Changes in employee management and training had an enormous impact. It took 22,000 workers to produce 1 million vehicles in 2000, for example, but only half that number to make 1.8 million four years late

Now In addition, Bajaj Auto has consistently invested in R&D. The company's ability to develop products desired by the customer has been an important source of confidence for the future Rahul Bajaj is the Chairman of the Bajaj Group, which ranks among the top 10 business houses in India. The Bajaj Group has diversified interests ranging from automobiles, home appliances, lighting, iron and steel, insurance, travel and finance. Rahul Bajaj is one of India's most distinguished business leaders and internationally respected for his business acumen and entrepreneurial spirit. Rahul Bajaj is an alumnus of Harvard, St. Stephen's and Cathedral. He took over the reins of Bajaj Group in 1965. Under his stewardship, the turnover of the Bajaj Auto the flagship company has risen from Rs.72 million to Rs.46.16 billion. Rahul Bajaj created one of India's best companies in the difficult days of the licence-permit raj. He established factories at Akurdi and Waluj. In 1980s Bajaj Auto was top scooter producer in India and its Chetak brand had a 10-year waiting period. The initiation of liberalization in India posed great challenges for Bajaj Auto. Liberalisation brought the threat of cheap imports and FDI from top companies like Honda. Rahul Bajaj became famous as the head of the Bombay Club, which opposed liberalization. The scooter sails plummeted as people were more interested in motorcycles and the rival Hero Honda was a pioneer in it. The recession and stock market collapse of 2001 hit the company hard and it was predicted that the days of Bajaj Auto were numbered. However, Bajaj Auto re-invented itself, established a world-class factory in Chakan, invested in R&D and came up with Bajaj Pulsar Motorcycle. Bajaj Pulsar is currently a leader in its segment. Recently, Rahul Bajaj was elected to Rajya Sabha from Maharashtra

Salary and Compensations

ANNUAL COMPENSATION Salary Total Annual Compensation STOCK OPTIONS All Other Compensation TOTAL COMPENSATION Total Annual Cash Compensation Total Short Term Compensation Other Long Term Compensation Total Calculated Compensation 25,121,055 25,121,055 36,000,000 61,121,055 36,000,000 25,121,055 25,121,055

CONCLUSION

Due to his hard work and innovative ideas Indian automobile manufacturing became fourth largest in the world in two wheeler segment and simply his products are called as pride of India wherever we found those in corners of the world. Our ultimate objective here is not just to be flabbergasted by the magnificence of his lifetime achievements but learn some things which will aid us in reaching such great heights Rahul Bajaj is one of the veteran industrialists who has got a rich business experience in various industries and has chaired the managements of various companies in diverse fields. Even at the age of 72 he actively participates in business activities which inspires awe in every young entrepreneur of todays world

Bibliography

1. http://www.theequitydesk.com/rahul_bajaj.asp 2. http://www.altiusdirectory.com/Business/world-billionaire.php?profile=Rahul-Bajaj&id=884 3. http://www.iloveindia.com/indian-heroes/rahul-bajaj.html 4. http://en.wikipedia.org/wiki/Rahul_Bajaj 5. http://www.forbes.com/profile/Rahul-Bajaj 6. www.bajaj.com 7. www.googlebooks.com

Das könnte Ihnen auch gefallen