Introduction to Entrepreneurship

By
Raveendra Rao K
SOM, Manipal

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 Identify these Worlds Top
Entrepreneurs

Lawrence Page reputed to be worth a staggering $17.5bn at 37

years old, Larry is the co-founder of Google Inc .

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Sergey Brin again reputed to be worth more than
$17.5bn Brin is also the co-founder of Google

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Jeffrey Bezos estimated to be worth in the region of $12.3bn. Founder
of Amazon.com

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Bill Gates-Gates is widely thought of as the Worlds richest man
Gates is estimated to earn around $250 a second; or $20 million a
day.
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Warren Edward Buffett. Buffett became the worlds richest man,
kicking Bill Gates from the throne in 2008 with an estimated worth of $62
billion, according to Forbes magazine.

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Pierre Omidyar estimated to be worth in the region of $5.2bn
Pierre came to light as the founder of eBay auction site when he was
just 28 years old

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Steve Jobs - Co founder of Apple

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D. Trump - Donald John Trump is an American businessman (Real
estate), entrepreneur, socialite, author and TV celebrity

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Mark Zuckerberg Founder of Facebook, today Zuckerberg is
reputed to be valued at somewhere close to $4.0bn

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Richard Branson Founder of Virgin Group (Virgin Atlantic Airlines,
Virgin Mobiles, etc) According to the Sunday Times Rich List his net worth
was just over 3 billion in 2009; not too bad for a guy who cant spell

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Successful Indian Entrepreneurs of this
era

Mukesh Ambani: His assets worth $ 21

billion
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Lakshmi Mittal is ranked as the second richest entrepreneur in India.
He is the owner of the largest steel company in India and at present is
residing in London. The total asset of Lakshmi Mittal is $16 billion. He
has funded to 377-foot-tall Mittal Arcel or Mittal Orbit which is made out
of recycled steel. It is UKs tallest sculpture

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Azim Premji is the Chairman of Wipro. His assets worth
$12.2 billion.

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Pallonji Mistry is the holder of Shapoorji Pallonji group and has
now split up his responsibilities with his younger son Cyrus. Cyrus is
considered to replace Indian business legend Ratan Tata as the
chairman of Tata sons when Tata retires.

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Dilip Shanghvi is the founder of Sun Pharmaceutical Industry
one of the expensive drug makers in the country. The group has
an asset of $9.2 million

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Adi Godrej is famous with consumer goods and real estate in India. His total
asset is $9 billion.

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Savitri Jindal is known for her steel and power plants. Her asset at
present is $8.2 billion

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Shahsi and Ravi RuiaThe .total assets of Ruia brothers are $
8.1 billion.(Essar Group)

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Hinduja Brothers are known for their flagship brand, Ashok Leyland, a
commercial vehicle mart in India. They are also skilled in defense,
energy, petroleum, media and technology. The total asset of Hinduja
brother is $8 billion.

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Kumar Mangalam Birla of Aditya Birla group . Aditya Birla today
has revenue of $40 billion but has a dream of reaching $65 billion by
2015. The Birla group has also acquired Canadian pulp mill Terrace
bay of $ 110 million. However, the total asset of Birla is $7.8 billion.

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 Top Women entrepreneurs
of India

INDU JAIN
Chairperson of Indias largest media group, Bennett, Coleman & Co.
Ltd., which owns the Times of India and other large newspapers

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Kiran Mujumdar Shaw

Biocon

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Indra Nooyi

CFO and President of PepsiCo.

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Vandana Luthra
VLCC, a beauty and wellness giant has
its presence in 11 countries across Asia,
Africa and the GCC (Gulf Cooperation
Council)
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Naina Lal Kidwai

Country head and Group GM, HSBC

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Chanda Kochar

MD and CEO, ICICI Bank

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Ekta Kapoor

CEO Balaji Telefilms

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Suchi Mukherjee

CEO, Limeroad

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Richa Kar

CEO Zivame

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Aditi Gupta

CEO Menstrupedia

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Basics of an entrepreneur
ORGANISATION

URGE INNOVATION

SKILL RISK

VISION ENTERPRISE

GROWTH
MANAGEMENT
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 Who is an Entrepreneur?
According to Joseph A Schumpeter,
entrepreneur is an innovator who
carries out new combination to initiate
the process of economic development
through introduction of new products,
new markets, conquests of new source
of raw material and establishment of a
new organization of industry.

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 Innovation occurs through
1. Introduction of new quality in a
product
2. New product
3. Discovery of a fresh demand and
fresh source of supply and
4. By changes in organization and
management

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 Key elements involved in
entrepreneurship
1. Innovation
2. Risk-taking
3. Vision
4. Organising skills

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 Right age and Qualification for
becoming entrepreneur?
Average age: 36 years ( as per
INSEAD MBA Survey)

No co-relation between education

and an entrepreneur

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 Entrepreneurial competencies
1. Initiative
2. Looking for opportunity
3. Persistence/Tenacity
4. Information seeker
5. Quality standards (for ones performance)
6. Commitment to work
7. Commitment to efficiency
8. Proper Planning
9. Problem solver
10.Self confidence
11.Assertive (for sure believes in his abilities)
12.Persuasive
13.Effective monitoring
14.Employees welfare (takes personal interest in solving
employees problem)
15.Effective strategist
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 Characteristics of entrepreneurs
1. Mental ability (intelligent and creative)
2. Clear objectives
3. Business Secrecy (knows well the competition)
4. Human relation ability : maintains good relation with
customers, suppliers, financial institutions, regulatory
bodies, and community.
5. Communication ability
6. Technical Knowledge
7. Motivator
8. Self-confidence
9. Long- term involvement
10.High energy level/enthusiasm
11.Persistent problem-solver (creative)
12.Initiative
13.Moderate risk-taker
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 Competencies of successful entrepreneur
(According to US Agency for International
Development)
Proactivity
1. Initiative
2. Assertiveness
Achievement orientation
3. Sees and acts on (identifies opportunities)
4. Efficiency orientation
5. Concern for high quality work
6. Systematic Planning
7. Monitoring
Commitment to others
8. Commitment to work contract
9. Recognising the importance of business relationship
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