Entrepreneurship Mgmt. Atharva Institute of Management Studies 1 A Presentation on ENTREPRENEURSHIP, INTRAPRENEURSHIP, ULTRAPRENEURSHIP, CYBERPRENEURSHIP AND CORPORATE SOCIAL ENTREPRENEURSHIP Submitted to PROF. VIJU NAVARE ENTREPRENEURSHIP MANAGEMENT Atharva Institute of Management Studies MMS-IV Presented By: Viral Mayani 11 Nikunj Shah 24 Jayesh Surve 43 Sanil Tharwal 45 Ankita Trivedi 48 Alok Tungare 50
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Entrepreneurship Mgmt.
Atharva Institute of Management Studies 1
A Presentation on
ENTREPRENEURSHIP, INTRAPRENEURSHIP,
ULTRAPRENEURSHIP, CYBERPRENEURSHIP
AND
CORPORATE SOCIAL ENTREPRENEURSHIP
Submitted to
PROF. VIJU NAVARE
ENTREPRENEURSHIP MANAGEMENT
Atharva Institute of Management Studies
MMS-IV
Presented By:
Viral Mayani 11
Nikunj Shah 24
Jayesh Surve 43
Sanil Tharwal 45
Ankita Trivedi 48
Alok Tungare 50
Entrepreneurship Mgmt.
Atharva Institute of Management Studies 2
Alok Tungare
‗The spirit of entrepreneurship includes imagination, inventiveness and openness to the new. This
spirit of creative response aligns with the capacity to exercise moral imagination and to see ethical
problems in a new light. To be sure, our most fundamental ethical values -- values such as honesty,
avoiding doing harm, keeping commitments -- are grounded in timeless traditions and are not likely
to be soon abandoned. But it is in the application of these ethical values to emerging, unique
situations, where moral imagination and the entrepreneurial spirit can make a decisive difference.‘
Entrepreneurship is the art of taking Risk. It is all about taking the first step and implementing
them. Take Risks, evaluate and learn. Earning is necessary for a living. A teacher teaches in a
school, a worker works in a factory, doctor practices in a government hospital, a clerk serves in a
bank, a manager works in a business concern to earn their living. These are the examples of people
who are employees and earn money through salary or wages given by their employers. This is
known as wage-employment. On the other hand, a shopkeeper, a factory owner, a businessman, a
doctor having his own clinic, earn money by running their own concerns.
These are the examples of people who are self-employed. However, there are several self-employed
individuals who not only create jobs for themselves but also generate jobs for many others. For
example, Tatas, Birlas, etc. who are innovators and job generators. They may be termed as
‗Entrepreneurs‘.
Five Most Important Characteristics of an Entrepreneur
How many times have we heard a success story about someone who started in his or her garage and
is now running a business empire? That's what separates entrepreneurs from business people. So,
what exactly is it that makes a strong and successful entrepreneur?
An entrepreneur is not just someone who deals with dollars and cents. In fact, many entrepreneurs
do the exact opposite. They are better at delegating responsibility and recognizing talent, as opposed
to performing every action.
No. 1 -- Visionary Characteristics of an Entrepreneur
Business is not just about making a profit. Of course, it's the reason for business, but profit is the
hopeful result rather than the actual means. A successful business leader has to be something like a
successful politician -- inspiring large groups of people to action.
Having a vision is a major component of inspiring both employees and colleagues. The important
component is dreaming big. However, dreaming big has some limits. It needs to be tempered by
pragmatism or no one is going to take the vision seriously.
Entrepreneurship
Entrepreneurship Mgmt.
Atharva Institute of Management Studies 3
No. 2 -- Self-Awareness
Being able to inspire other people to action requires knowledge of self. Too many budding
entrepreneurs despise admitting their own weaknesses. They believe that part of success is putting
on a false bravado. Often, people can see through the facade.
More importantly, though, is the idea that a successful entrepreneur is only as strong as the people
working for him. An entrepreneur needs to be honest about his own faults and strengths, so that he
can hire people who will best meet the needs of the business.
No. 3 -- Entrepreneurial Characteristics and Intelligence
The entrepreneur exhibits intelligence through intellectual curiosity. An entrepreneur can't just sit
back on his heels and wait to find business opportunities. He always needs to be investigating new
modes of business and making new contacts.
In addition, an entrepreneur has to be a long and short-term planner, gauging the current climate
versus what can be accomplished long term. An entrepreneur always has to be looking for new
ways to accomplish his vision.
No. 4 -- Extroversion and Important Characteristics of an Entrepreneur
An entrepreneur has to be a people person. Remember, an entrepreneur isn't necessarily going to be
limited to one industry. This means attending a variety of business meetings in different business
sectors, in which the entrepreneur needs to be active in asking questions of colleagues, as well as
conveying his passion and vision about current projects. An entrepreneur must be outgoing. He
should exude confidence without arrogance -- though some cockiness can be effective as well.
No. 5 -- Ambition
Ambition ties it all together. If an entrepreneur doesn't believe that he can do something better than
what has come before, he's not going be very effective or successful. A sense of urgency typically
accompanies the ambitious feelings of an entrepreneur. A strong desire to get things done will rub
off on employees and business associates
What is Entrepreneurship?
Entrepreneurship is universal in any human activity — be it economic, political or social.
Entrepreneurship has been defined as a creative human act involving the mobilization of resources
from one level of productive use to a higher level. Or, as "combining together factors of production"
and the supply of entrepreneurship has been identified as critical in determining the wealth and
growth of a nation's economy.
Entrepreneurship involves a willingness to take responsibility and the ability to put the mind to a
task and see it through. An ingredient of entrepreneurship is sensing opportunities and serving as a
change agent.
Entrepreneurship Mgmt.
Atharva Institute of Management Studies 4
In India, you have examples of Tatas, Birlas, Ambanis, etc. who have made valuable contribution to
the industrial development of the country.
An entrepreneur is a creative thinker. He is an innovator, who volunteers to take risk and invest
money. In the process he generates jobs, solves problems, adds values and seeks excellence. This is
what Mr. Ambani did and therefore he is called an Entrepreneur.
Thus we find, entrepreneurship consists of practices and skills of a person constantly trying for
growth and excellence.
This is being done by innovating an idea, object, product or service and put it to social use. To be an
entrepreneur you need to possess some qualities. However, entrepreneurship is also referred as a
career oriented purposeful task that can be learnt.
It may be noted here that, in the context of country‘s economic development, entrepreneurship is
not always confined to big business. It is equally important to have small enterprises. As a matter of
fact the economic growth and prosperity of many developed and developing countries is because of
emergence of small enterprises.
In summary,
(i) Entrepreneurship is viewed as a function involving identification and use of opportunities which
exist in the market.
(ii) Entrepreneurs bear risks in converting the ideas into action and pursuing opportunities.
(iii) Entrepreneurship involves creative and innovative action
(iv) Entrepreneurs undertake managerial activities as part of their work.
(v) An entrepreneur constantly strives for excellence in his/her field of work.
In entrepreneurship the individual is the most important element. Entrepreneurship is not limited to
any class, community, gender or religion. There is no age bar. Any person who possesses certain
traits and attitudes can become an entrepreneur.
Changing Face of Entrepreneurship
Economic liberalization has changed the rules of the entrepreneurial game. The competencies
required to thrive in the protected era may no longer be good enough. The role of entrepreneurship
in the economic development and growth of a country or region is often overlooked. In any case, it
is not given the importance that it deserves, particularly in economic literature. In fact, until
recently, economists were reluctant to rely on entrepreneurship as a possible determinant of
economic outcome.
First-generation entrepreneurs quite often start small firms with small investments and then, once
established, some of them grow to larger firms. With shorter technology life cycles, the survival rate
of these new small firms is expected to be low.
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Atharva Institute of Management Studies 5
India's accelerated growth, post-liberalization, has not been accompanied by a commensurate
expansion in employment. This suggests a restructuring in many sectors of the economy and also
highlights the importance of entrepreneurship and new units in creating employment.
Sociology of Entrepreneurship
A new trend that has been observed the last 10-15 years is that the Generation Next of the
traditional entrepreneurial communities is going for higher/professional education. This has
spawned a new breed of young entrepreneurs, particularly in the new sectors. The units are world
class, able to survive and prosper in competitive market.
The key input provided by these new entrepreneurs in many cases is knowledge capital rather than
only finance. Although the economic environment and markets have changed, the traits required of
an entrepreneur have remained the same. Economic liberalization has changed the rules of the
entrepreneurial game.
The skills and competencies required to thrive in the earlier protected environment may not ensure
survival in the open, liberalized milieu of today. No longer do business culture and traditions matter
for entrepreneurship. The new-age entrepreneurs and candidates can learn it by experience and
training relating to risk-taking behavior. If such things are available, one can spring a surprise.
Today there's a huge transformation. This is an era for young entrepreneurs and India is a very
different country today, since we have a huge sense of confidence and there are enormous
opportunities for entrepreneurs Today people want to take risks and want to take up new business
models. Venture capitalists are ready to bank on innovative and interesting business models and
young people here are living at a time where they could never have it better. Entrepreneurship today
can be defined as a mindset. An ideal entrepreneur is one who looks for an opportunity in every
problem and by that sense entrepreneurship is not merely limited to starting a new business, but is
to be applied by every individual in their jobs and other activities.
Entrepreneurship is about freedom, creating, a chance to build a brand, an institution, showing the
world a new way of doing something, being your own boss, creating a legacy that will outlive you,
identity, making a difference, obsession, ego, having a shot at something big, doing what you love,
innovating, doing things your way…
The common qualities in all this entrepreneurs are risk taking ability, confidence, knowledge, right
attitude and most importantly never say die spirit. We have many great entrepreneurs in our country
since ages like, Jamshedji Tata, Dhirubhai Ambani, Rahul Bajaj, Narayan Murthy, Azim Premji and
many more. So let‘s see as a budding entrepreneur what lessons we can learn from such great
people‘s life as an entrepreneur.
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Ratan Naval Tata (28 December 1937)
Ratan Naval Tata was born on December 28, 1937, in Surat. He is the present Chairman of the
Tata Group, India's largest conglomerate founded by Jamshedji Tata and consolidated and
expanded by later generations of his family. Ratan Tata holds a B.Sc. (Architecture) degree with
structural engineering from Cornell University, USA and has completed the Advanced
Management Program at Harvard Business School, USA. Ratan joined the Tata Group in
December 1962, after turning down a job with IBM on the advice of JRD Tata.
Traits of Mr. Tata:
Simple living, High thinking
The Strategist
Mr. Dependable
Philanthropist
Perseverance & Commitment
Giver and not a Taker
Change Agent
Determined Persona
RAHUL BAJAJ (June 10, 1938)
The battle is first fought and won in the mind. One may fight and still lose, but the very process
of fighting creates its own opportunities.
Rahul was born on June 10, 1938, in Calcutta to Savitri and Kamalnayan (1915-1972) Bajaj, a
Marwari businessman. The family was comfortably well off and it was in the process of
moving from trade into industry. He was schooled at Bombay's elite Cathedral and John
Connon School, and graduated from Delhi's St.Stephen College with BA (Hons) in Economics
in 1958. Back in Bombay, Bajaj did a two-year stint at Bajaj Electricais, clocking in after
morning lectures at the Government Law College. During 1961-62 he was a junior purchase
officer at Mukand. And with some work experience under his belt, he left for Harvard. He
completed his MBA in the 1964. In between (December 1961), he married Rupa Golap, a
Maharashtrian beauty queen and an up-and-coming model. They have three children, Rajiv
(b.1966), Sanjiv (b.1969) and Sunaina Kejriwal (b.1971).
Bajaj has earned himself a rare reputation as one of India‘s most successful industrialists.
Successful people tend to be highly entrepreneurial but oddly enough Bajaj doesn't quite fit the
bill. Compared to his peers in this book, Bajaj appears colorless rather than dynamic. Squeaky
clean, he has never been involved in shady takeovers. He has never engaged in street fights with
other industrial magnates, nor has he ever hijacked someone else's project. He hasn‘t burnt tires
during a hard drive for meteoric growth. On the contrary, he is something of a plodder,
routinely burning the midnight oil, and devoted to the virtues of hard work.