DR.V.

MOHANASUNDARAM
manlymohan@gmail.com
 Entrepreneurship

• The Process of
Bearing Risk of
Running a
Business

Entrepreneurship can be defined by describing what

entrepreneurs do.
For example: "Entrepreneurs use personal initiative, and engage in
calculated risk-taking, to create new business ventures by raising
resources to apply innovative new ideas that solve problems, meet
challenges, or satisfy the needs of a clearly defined market."
 Entrepreneur
• The word „Entrepreneur‟ has been taken
from the French word. It means Between
Takers.
• A person who takes the risk of converting a
new idea into reality.
• According to J.B.say, “Entrepreneur is an
Economic agent to unites all the means of
production”
 Facts about ENTREPRENEUR
E:xamine needs, wants, and problems to see how they can improve the
way needs and wants are met and problems overcome.
N: arrow the possible opportunities to one specific "best" opportunity.
T:hink of innovative ideas and narrow them to the "best" idea.
R:esearch the opportunity and idea thoroughly.
E:nlist the best sources of advice and assistance that they can find.
P:lan their ventures and look for possible problems that might arise.
R:ank the risks and the possible rewards.
E:valuate the risks and possible rewards and make their decision to act
or not to act.
N:ever hang on to an idea, no matter how much they may love it, if
research shows it won't work.
E:mploy the resources necessary for the venture to succeed.
U:nderstand that they will have to work long and hard to make their
venture succeed.
R:ealize a sense of accomplishment from their successful ventures and
learn from their failures to help them achieve success in the future.
Difference – Entrepreneur and
Entrepreneurship
Entrepreneur and 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'.
 ENTREPRENEUR VS
BUSINESS MAN
A person who brings his unique idea to
run a startup company is known as
an entrepreneur.
A businessman is a person who
starts a business on an old concept or
idea.
 CHARACTERISTICS OF
SUCCESSFUL ENTREPRENEUR
 Passion and Motivation
 Not Afraid to Take Risks
 Self-belief, Hard Work and Disciplined Dedication
 Adaptable and Flexible
 Product and Market Knowledge
 Strong Money Management
 Effective Planning (Not Over-Planning) Skills.
 The Right Connections
 Exit Preparedness
 Ability to Question Themselves – But Not Too Much
 Requirements to be an entrepreneur
• Innovation,
• Creativity
• Risk Taking
• Organization
 Promoting Entrepreneurship

In India, where over 30 crores people are living

below the poverty line, it is simply impossible for any
government to provide means of livelihood to
everyone.

Such situations surely demand for a continuous effort

from the society, where the people are encouraged to
come up with their entrepreneurial initiative.
The Builder of Indian Industry

J R D TATA
• 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.
• Assisted by his two sons, Mukesh and Anil,
Dhiru Bhai Ambani built India's largest private
sector company, Reliance India Limited, from
a scratch. Over time his business has
diversified into a core specialisation in
petrochemicals with additional interests in
telecommunications, information technology,
energy, power, retail, textiles, infrastructure
services, capital markets, and logistics.
• N.R.Narayana Murthy
An Indian IT chief who's really made it
big without dropping his ethical
precepts by the wayside is Nagawara
Ramarao Narayana Murthy, Chairman
of Infosys.
• Born in 1946, Murthy's father was a
schoolteacher in Kolar district,
Karnataka, India. A bright student,
Murthy went on to acquire a degree in
Electrical Engineering from Mysore
University and later studied Computer
Science at the IIT, Kanpur, India.
• The Infosys legend began in
1981 when Narayana
Murthy dreamt of forming
his own company, along
with six friends. There was
a minor hitch, though-he
didn't have any seed money.
Luckly, like many Indian
women who save secretly
without their husband's
knowledge, his wife Sudha-
then an engineer with Tatas-
had saved Rs 10,000. This
was Murthy's first big break.
 Infosys.
• The decade until 1991 was a tough period when the
couple lived in a one-room house. The second break
came in 1991 when Indian doors to liberalization
were flung open… Murthy grabbed the opportunity
with both hands and has never looked back ever
since. Today, Infosys is the first Indian company to
be listed on the US NASDAQ.

• It provides employment to N NUMBER OF people.

 Food king
• When 27-year old Sarathbabu
graduated from the Indian
Institute of Management,
Ahmedabad, he created quite a
stir by refusing a job that
offered him a huge salary. He
preferred to start his own
enterprise -- Foodking Catering
Service -- in Ahmedabad.
The Motivating Force of Food King
 What will be the qualities needed to
succeed in this new world?
First and foremost, we need the entrepreneurial spirit.
• Outside India, this spirit has been very evident in the
IT industry.

• 35% of the start-ups in Silicon Valley are by Indians.

• We need to have similar risk-taking ability within the

country as well.
• What they need is the continuous energy and
optimism.

• Entrepreneurs must learn how to overcome

the risk of failure, or of vulnerability.
 Qualities of an Entrepreneur:
1. Common Sense:
2. Specialised Knowledge of the Field:
3. Self Confidence:
4. Ability to Get Things Done:
5. Creativity:
6. Leadership:
 Qualities of an Entrepreneur:

7. Communication Skill:
8. Willingness to take Risk:
9. Willingness to Accept Criticism:
10. Self Motivation and
11. Determination :
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