Entrepreneurship Development

Dr.V.Ambilikumar Associate Professor, College of Fisheries, (Kerala Agricultural University), Panangad P.O,Kochi-682 506, S.India. Email: [email protected]

What is Entrepreneurship? • The Process of Bearing Risk of Running a Business

Who is an Entrepreneur ? • A person who takes the risk of converting a new idea into reality.

The Builder of Indian Industry

J R D

TATA

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.

• 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 Sudhathen an engineer with Tatashad 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

85,000

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.

Food king

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 :

Suggested Areas for Kerala 1. Food sector - Food Processing, Packaging, Cashew processing, Bakery and confectionery. 2. Fisheries - Fish Hatchery, Processing units, Aquarium, Sea Food sector, 3. Coir and Handloom sector, 4. Rubber based industries

Suggested Areas for Kerala 5. Plant tissue culture, Nursery, Horticulture, Floriculture and Farm management. 6. Diagnostic testing labs – Biochemical tests, water testing, Environmental testing and medical laboratory testing. 7. Information Technology Enabled Services, Software Development and Data analysis.

Suggested Products • • • • • •

Decorative papers Paper Bags Paper board cartons Paper cups/plates Paper envelopes Drinking straws

Suggested Products • Paper napkins including facial tissue napkins • Gummed tape • Teleprinter rolls • Stencil paper • Toilet paper rolls and sheets • Letter pads

Suggested Products • • • • •

Hot water bags Rubber Rubber balloons Rubber washers Rubber eraser 'O' ring rubber

Suggested Products • Wooden storage shelves & racks • Wooden storage cupboards • Wooden furniture and fixtures

Suggested Products • • • • •

Pickles & Chutneys Bread Tapioca sago Tapioca Chips Ice Cream

Suggested Products • Aquarium

Suggested Products • Snacks • Chips • Toys