SMALL ENTREPRENEURS

Entrepreneurship

“Entrepreneurship is the process of creating

something new with value by devoting the
necessary time and effort, assuming the
accompanying financial, psychic, and social
risks, and receiving the resulting rewards of
monetary and personal satisfaction of
independence.”
-Robert Hisrich
“Entrepreneurship is an act of initiative,
drive, commitment, diligence,
perseverance, organized effort, and
achievement outlook, to undertake some
specific functions of performing productive
activities and the capacity to bear and
associated with the investment”.
-Economic Policy Paper on Entrepreneurship
Development through Educational Reform-Bangladesh
 Importance Of Entrepreneurship

• Central to the development of economy

• The micro and small enterprises (MSEs) constitute
over 90% of total enterprises in most of the
economies.
• Employment generation
• MSE sector accounts for about 39% of the
manufacturing output and around 33% of the total
export of the India.
 Prerequisites of Entrepreneurship

• Creative mind, Risk taking capacity and Need to

achieve.

• Support of infrastructural facilities and cultural

acceptance & recognition.
 SMALL ENTERPRENEURSHIP

A small business is a business that is privately owned and

operated, with a small number of employees and relatively
low volume of sales. Small businesses are normally
privately owned corporations, partnerships or sole
proprietorships. Small businesses are common in many
countries, depending on the economic system in operation.
Typical examples include: convenience stores, other small
shops, hairdressers, tradesmen, lawyers, accountants,
restaurants, guest houses, small-scale manufacturing etc.
 OBJECTIVES
The basic objectives underline the development
of small and medium scale industries are :
• The increase in the supply of manufactured
goods
• The promotion of capital formation
• The development of indigenous entrepreneurial
talents and skills
• Creation of broader employment opportunities
 ADVANTAGES
There are numerous benefits to owning a small business. Below are listed
four benefits to entrepreneurship.
• Opportunity to Gain Control
Owning a business provides the entrepreneurs the independence and
the opportunity to achieve what is important to them. Entrepreneurs
want to make their own decisions in their lives and use their business to
do so. There are intrinsic rewards of knowing they are the driving forces
behind their business. They make the decisions behind the direction the
company travels and their work schedules.
• Opportunity to Make a Difference
The amount of social entrepreneurs is on the rise. These people start
their businesses because they see an opportunity to make a difference
in a cause that is important to them. They seek to find innovative
solutions to some of society's most pressing and most challenging
problems. Entrepreneurs continue to find new ways to combine their
concerns for social issues and their desire to earn a living.
• Opportunity to Reach Full Potential
Many people find their work boring, unchallenging and unexciting.
However, to many entrepreneurs, work is much more enjoyable. An
entrepreneur's business can be the instrument for self-expression
and self-actualization. Owning a business challenges the
entrepreneur's skills, abilities, creativity and determination. There is
no organizationally created 'glass ceiling' to determine how high a
business owner can rise.
• Opportunity to Reap Impressive Profits
Although not the primary motivating factor, the profits their
companies can make are important in their decisions to launch
businesses. Owning a business is usually the best way to achieve the
accumulation of wealth. Self-employed individuals are four times
more likely to become millionaires than those who work for someone
else.
 Problems
• Small businesses often face a variety of problems related to
their size.
• A frequent cause of bankrupty is undercapitalization. This is
often a result of poor planning rather than economic
conditions - it is common rule of thumb that the entrepreneur
should have access to a sum of money at least equal to the
projected revenue for the first year of business in addition to
his anticipated expenses.
• Another problem for many small businesses is termed the
'Entrepreneurial Myth' or E-Myth. The mythic assumption is
that an expert in a given technical field will also be expert at
running that kind of business. Additional business
management skills are needed to keep a business running
smoothly.
 Sources of funding
• Self-financing by the owner through cash, equity loan on his or her home, and or other assets.
• Loans from friends or relatives
• Grants from private foundations
• Personal Savings
• Private stock issue
• Forming partnerships
• Angel investors
• Banks
• SME finance, including Collateral based lending and Venture capital, given sufficiently sound
business venture plans
• Type Daily : Newspaper
• Format : Broadsheet
• Owner : DB Corp Ltd.
• Founded :1958
• Political alignment : Liberal
• Language : Hindi
• Headquarters : Bhopal
• Circulation :2,268,042 Daily
GIRISH AGARWAL
Director
Bhaskar Group
• Girish Agarwal an indefatigable innovator, business visionary and peerless
team-builder, is Director with the DB Corp Ltd. The group is a 2400 crore
media house, 'the largest read newspaper Group of India' with more than
25.3 Million readers. DB Corp Ltd publishes Dainik Bhaskar (leading Hindi
newspaper), Divya Bhaskar (largest circulated Gujarati newspaper) and
DNA (the second largest read English newspaper in finance capital of
India; Mumbai).

• Girish Agarwal has been instrumental in making the brand 'Bhaskar' into
the media powerhouse it is today. He played pivotal role in making
inroads into the Gujarat newspaper market when he launched Divya
Bhaskar. Girish Agarwal was the recipient of the 'Young Entrepreneur of
the Year 2006' award by Ernst and Young in the IT, Communications and
Entertainment category. He was received the Innovation for India Award
for Business Innovation for Divya Bhaskar in 2006. The success was so
exemplary that IIM Ahmedabad chose Agarwal's acuity and approach in
relation to Divya Bhaskar as the subject of a case study.
• His biggest achievement till date was his role in the
conceptualization and launch of DNA (Daily News and Analysis)
three years ago; bringing in the combination of subtle thinking and
strategizing genius reshaping the contours of the newspaper
market in Mumbai. In last 10 years, Bhaskar has grown from a small
5 edition, single state newspaper with 3.5 million readers to a
group with 8 daily newspapers, across 10 states and with 25.3
million readers.
• It also published 6 magazines and has the 4th Largest FM Radio
network in India, with 17 FM stations under the brand – MYFM.
Girish has now taken up the charge of spear heading the 2900 MW
Power Project for the group. Girish's work philosophy pushes him
to quickly accord credit to colleagues for diligence and out-of-the-
box thinking. He follows Management by Walking Around a hands-
on approach to operations.
• Whenever Dainik Bhaskar, a media group, enters a new market, it uses
direct marketing to establish a leadership position from day one. Here is
the story on the transformation that happened inside the organisation
because of this strategy.

• In 1996, when we began transforming our group into a customer centric

organization it was difficult for us to accept the fact that someone called
the consumer exists and that he would henceforth have a greater
influence in the way we publish the newspaper.

• To cite an instance, during the launch of the Chandigarh edition of the

Dainik Bhaskar, the pre-launch customer preference survey showed that
readers in that area preferred a newspaper in Hinglish (the spoken
language, a mixture of Hindi and English) to pure Hindi.

• To gain popularity we had to adapt that language in the newspaper. So in

this case the customers actually decided the language the edition would
carry. This was a new experience for us, especially the journalists and
editors, and had a huge impact on the organisation, its processes and its
structure. Certain changes have now become a norm in our organisation
 Pricing against the market
• I strongly believe that the market is no one to set the prices. As
entrepreneurs engaged in the day-to-day running of the
organisation, only we know the pros and cons of what price the
customers will accept for our product, of how much we can take and
how much we cannot.

• Pricing is ultimately the entrepreneur's decision based on the market

affordability and the nature of his product. Take telecom rates as an
example. An owner of a telecom company once told me that two and
a half years ago, his company prepared a report, which said that if
they priced below Rs X per minute the company will be doomed.
Today even after selling at half that price the company is making
three times more profit than what it was earning three years ago.
• There will be times when you may want to introduce a
premium product at a price point which the current market
pricing will not accommodate. But if you are firm in saying
that you want this price and are confident of it, you will
definitely get it. In the newspaper industry, pricing plays a
huge role, but we have realised that pricing is not a standalone
element. Quality is as important in deter-mining success.
Customers will never accept average quality; they want value
addition in their product. They expect their rupee to go the
extra mile and give them the best quality.
 Flexibility is key
• No system or plan is sacrosanct. Systems and plans are essential but they
should be flexible enough to undergo a last minute change. Otherwise they
become a bottleneck. This was an important lesson we learnt during the
Ahmedabad launch.
• We had initially planned two city supplements for Ahmedabad as
Ahmedabad is a city of 5mn readers. One edition would cover eastern
Ahmedabad and the other the west, thereby providing more local news. So
we planned our processes to accommodate two editions. But a reader survey
revealed that though readers residing in the eastern suburb may not
frequently travel to the west, they like to be up-to-date on happenings in the
western part of the city and stay connected with their social circle residing
there. Acceding to market demands we had to combine the editions and
make the necessary changes in our systems.
• Customer choice played a similar role in Chandigarh. Here we planned a
feature based city supplement to our main paper. It was to be printed earlier
than the main paper, saving costs. However, we discovered that customers
preferred a news based supplement. We had to change our process and print
it along with the main sheet. This called for a major process change and we
had to reschedule our activities.
• Headquarters: Delhi Area, India
• Industry: Food and beverages
• Type: Privately Held
• Status: Operating
• Company Size: 2,000 employees
• Median Age: 32 years Manish aggrawal
•  Gender DIRECTOR

• Male: 89%
• Female: 11%
• Bikanervala Foods (P) Ltd. is a company having 100 years of experience
in the business of ethnic food, sweets and namkeens. It is one of the
most prominent families of Bikaner, which has inherited a vast treasure
of recipes of traditional Indian sweets, namkeens and spices developed
and perfected by their forefathers.

• They brought their traditional recipes and culture to the Historic City of
Delhi in the 50's with a shop in the heart of the city in Chandni Chowk –
and the love of people of Delhi has given them the name BIKANERVALA.

• It was a modest beginning -- from a roadside stall in the ‘Moti Bazar’ of

the heart of the walled city. The Delhiwallas relished their Bikaneri
‘bhujiya’ and ‘rasogollas’ and they fast grew to a regular shop ‘'BIKANER
NAMKEEN BHANDAR' in the historic Chandni Chowk.
• It provides Indian sweets, namkeens, Sharbets, Mixtures, Bhujia,
Papad, Spice items and vegetarian fast food. Its products also include
sweets fast food, seasonal and festive products, cookies, snacks,
beverages, gift packs, and traditional drinks like badam milk and lassi.

• Under the brand name 'Bikano' the company produces high quality
food items having true Indian flavour in international packing
standards. Bikano’s concept of constant innovation through the use of
modern technology while retaining the original flavour in its products
has been the single biggest reason for its popularity around the world.

• The company also operates vegetarian restaurants in the Middle East,

Nepal, and India. It operates outlets in and around New Delhi, India.
In the continuation of their progress through innovative
blending of heritage and traditional expertise with modern
technology, Bikanervala Foods Pvt. Ltd. has achieved the
unique distinction of becoming the first Indian Company in
its segment to have been granted ISO9001: 2000, HACCP
and SQF2000CM certificates by Underwriters Laboratories
Inc., an internationally accepted benchmark of quality
standardization in more than 90 countries.
WORK DONE BY MR. MANISH AGRRAWAL

Bikano Chat Café is a new age concept of Bikanervala aimed

at establishing a strong network in the corporate and the
retail segment. Their main focus has been to provide
exquisitely packaged traditional food at an affordable price to
wherever their customer groups are located, be it corporate
houses, malls or even exhibition stalls. Their innovative menu
and state-of-the-art manufacturing and delivery systems
ensures original flavour from base-kitchen-to-customer. This
is our strength with which we are marching on a path of
success and popularity
 Range of product line
The Bikanervala Foods franchise offers an entire range of sweets, which play an
important role in the Indian hospitality culture. The speciality food business takes
extra care in preparing sweets which symbolize joy, love, richness, celebration and
happiness. The sweet maker franchise knows how sweets form a part of the
various occasions and how they are used by Indian families to convey greetings.
The Bikanervala Foods franchise also specializes in preparing salty namkeens’
which are made in the conventional manner. The speciality food business also runs
Bikanervala's Angan Restaurants. These food outlets offer traditional Indian food
stuff in an extremely modern environment.
The sweet maker franchise is always dedicated to provide standardized quality of
food materials. It is this hygiene factor, which has helped the speciality food
business in gaining a unique position in the Indian market. The restaurants of the
Bikanervala Foods franchise which were opened in foreign countries like Nepal and
Dubai have received tremendous support.
This has prompted the Bikanervala Foods franchise to open various food outlets in
different cities of the world. The speciality food business offers Indian cuisine,
Chinese food, vegetable burgers, pizzas, fresh fruit juice, ice creams etc. All the
snacks and other food stuff offered by the sweet maker franchise are completely
vegetarian in nature.
Quality
The company is awarded with ISO 9002. It was
established in the year 1950 as an attempt to
explore business opportunities beyond Rajasthan,
its traditional stronghold. With it the company
brought the traditional recipies perfected by the
forefathers, exotic ingredients and experience in
the art of making sweets and Namkeens.

Unbeatable product quality has taken it far beyond

the geographical limits; now it serves to the ready
markets in USA, Canada, UK, Germany, Singapore
and the Gulf countries.
 Conclusion
• Small entrepreneurs are a very important factor for the
growth of Indian economy

• They contribute for employment opportunities in the

country.

• The various pricing strategies have build up the small

entrepreneurs their businesses

• Small businesses have grown over the period of time

• Various innovations have been included

PRESENTATION BY -

• Pooja Daftari
• Rasesh Gohil
• Tanay Damle
• Libi Chacko
• Kanika Mathur
• Bhavik Mehta