Entrepreneurship Innovator, risk - taker, decision makers, people - PowerPoint PPT Presentation

Entrepreneurship “Innovator, risk - taker, decision makers, people with vision” “If you cannot find it, make it.” Is there an entrepreneur within you ?

Occupational Basis • Sell the skills as a labor • Be self-employed • Be an entrepreneur • A fourth Option ?

Different definition of Entrepreneurship • Economic Definition – Value Addition • Psychological definition – Striving to achieve something – extra- ordinary drive and determination. • Social definition – Orientation to contribute to nation-building and building of society • Management definition – person with vision and mission

5 Ds and One Large D • Desire • Discipline • Determination • Dedication • Devotion DIGNITY & STATUS

Creative Process 2. Preparation Or 1. Idea Conscious Search for Germination Knowledge P R O D 5. Verification 3. Incubation U & Validation Or C Or Sub-conscious T Assimilation of Test to Prove that the idea has a value Information I O 4. Illumination N Recognition of Idea as being feasible

Value addition chain Bread delivered to Customers Flour converted to Bread Grain converted to flower Grain in warehouse Grain in field

Intrapreneurship • You can simple sell your labour • Or you can become an “Intrapreneur” Behaving like an Entrepreneur while working inside an organization. “Dreamers who take on responsibility for innovation of any kind within the business. A person who not only generates ideas, but also takes the responsibility of turning the idea into profitable finished products or services, given the resources from the organization.”

Most Important Attribute for an Intrapreneur • Think “Outside the Box” • Impress the Entrepreneur • Subject Knowledge • Win internal resources • Secure external resource • Leverage Brand Value • Be ready to “spin - off”

Choosing of business model • Hardware Primary, Software Secondary. • Improve Software and Give it its rightful place. • Open General License for Software. • Basic version free, pay for the advanced version. • Advanced Version free, but time delimited. • Software on cloud, use for free, pay only for additional features • Software on cloud, pay as you use, SAS model.

Redesign the Business • Cloud based Education • Courier Business as part of Postal Business • Take tourists in a Fighter Jet • Mix ethanol in automobile fuel • Do fraking to extract more oil • Outsource labor-oriented operation to low cost location • Buy a brand and kill it/ • Creatively destroy existing product / service • Aggregate Common services of many companies under one entity, for example, TV Towers

Segregation between Ownership and Management • Person Oriented Companies • Family Oriented Companies • Institutionally owned Companies • Public Oriented Companies • Venture Capitalists Owned Companies “Is Management the new labour? “

Porter’s 5 Force Model

BCG Matrix

“This is a great time to start a Start Up in India.”

Situation Analysis You have started a new company, only 15 months old. You have 50 employees working with you. You own 100% of the company. You have bagged some customers, and yours is a high tech product just getting acceptance in the market. You had 30 days production cost as bank borrowing . Because of delay in payment from customers you are left only with 15 days cash. Yt ou are looking for cash in the market. One of your buyers have told you that he is ready to buy your plant ( after retrenching employees by you ) at 50% of your costs. As an enterprenuer, what are your options to get out of this situation? Your personal assets are already mortgaged with bank for loans taken to set up the Plant.