Entrepreneurship

Armaan Ananad
MBA(IB) B
Introduction
 “Entrepreneurship is neither science nor
art. It is the practise. It has a knowledge
base”
-Peter Drucker

 Entrepreneurship is the practise of starting new

organisation or revitalising mature org., particularly new
business generally In response identified oppurtunites.

 It is in the creation of more wealth, and in the

constant innovation from prevailing to the next best
practices, that the significance and importance of
 Role of Entrepreneurship in
the Economy
 Increasing opportunities for employment (comprising
various)

 Competitive skill sets

 Additional wealth creation

 Introduction and dissemination of new methods and

technology;

 and

 Overall economic growth.

Entrepreneurship in India
 To quote the renowned economist, T.N. Srinivasan, ‘India has been
an entrepreneurial society…we had the entrepreneurial skill but
suppressed it for too long a time… and now it is thriving.’

 New entrepreneurs who do not belong to traditional business

communities have begun to emerge in large numbers.
Entrepreneurship has grown rapidly, visibly so, creating wealth and
generating employment

 In a recent survey by the Deloitte group, India

ranks 2 globally as home to the fastest growing
technology firms. 82 Indian companies entered the
Deloitte Technology Fast 500 list of AsiaPacific
Companies in 2007.
SOME FIGURES
 5 global trends that can change India
1)The sharing economy and the world of experiences.
The web and attendant technologies have made it possible to
take physical products and turn them into services.
2)The transformative power of mobile, access and big data.
The emerging markets have been first adapters in the move to
mobile, with key services like news and banking being front-runners
in providing mobile services.
3) Retail is more about story-telling than about selling.
It's about being able to provide a consistent experience and
storyline across the platform.
4) Wearable technology and telemedicine transform health.
Ensuring internet connectivity, and in training nurses at the
remote location.
5) Education that builds hearts, minds and skills.
 For companies, those who leverage technologies to continuously
develop their talent will find themselves ready for market
changes and innovation.
 Uday Kotak wins global entrepreneur award for
2014

Uday Kotak, founder, executive vice-chairman and

managing director of Kotak Mahindra Bank, has been
named the EY World Entrepreneur Of The Year 2014.
Kotak, awarded at a ceremony in Monaco, was
selected among 60 finalists from 51 countries, each
of whom has already been named the EY
Entrepreneur Of The Year in their home countries.
Rise of the Global Entrepreneurial Class.

 Looking at the future, the average Indian is expected to

be 29 years old in 2020 as compared to 48 in USA, and 37
in China. Therefore , it is no surprise that we see
awareness and many a student movement creating
forums for entrepreneurship today.

 The Kerala government have also introduced recently an

entrepreneurship scheme for students at universities and
colleges that provides for accessibility to incubation
centres and academic incentives to those who approach
such centres.

 As a matter of fact is seen as one of the countries that is

par excellence with the rest of the Asian countries as far
as growing entrepreneurship is concerned.
FIGURES AGAIN-
AND AGAIN-
Challenges Faced by
Entrepreneurs
 Bureaucratic potholes that ensure that a good number of
early days are spent running from one table to another, from
one department to another to get the necessary permissions
in place
 Poor infrastructure facilities prove to be a huge hurdle to the
distribution network. Scarcity of electricity, a good number of
non-motorable roads
 Gallup’s recent study found that though many indigenous
serial entrepreneurs have made their mark, they are not
ready to impart learnings from their journey to aspirants.
 Personal risk such as uncertainty of success, financial risk
such as loss of savings.
 Never-ending family pressure for job security through
traditional means. Add to it some myths like not being able to
find a good matrimonial alliance if one runs his/her own
business!
They don’t stop-
 In such an environment consumers become more
pessimistic, businesses invest less, and governments
spend heavily on security measures and defense in
terms of terrorism.
 Reducing consumers’ and firms’ expectations for the
future by terrorism.
 Triggering wider geopolitical conflict, which may cause
further economic disruptions through terrorism.
 Reports of corruption in a firm can cause shareholders
and investors to lose trust and confidence in the
business.
 Because corruption entails improper use of the
available resources, it can jeopardize the efficiency of a
business organization.
BIBLOGRAPHY
 http://kalyan-city.blogspot.com/2012/04/what-are-challenges-
before-indian.html
 http://www.journal.bonfring.org/papers/iems/volume1/BIJIEM
S-01-1004.pdf
 http://lurnq.com/lesson/Finding-A-Place-Under-The-Sun-
Entrepreneurial-Pursuit-in-India-s-Growth-
Story/section/Challenges-Faced-by-Entrepreneurs/
 http://iveybusinessjournal.com/topics/global-business/indian-
entrepreneurship-and-the-challenges-to-indias-
growth#.U5Xbt8s9KP8
 Wiki
 http://www.kas.de/wf/doc/kas_10991-544-2-
30.pdf?131022171603
 http://yourbusiness.azcentral.com/effects-corruption-
business-15261.html
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