BUSINESS ORGANISATION

AND
MANAGEMENT

Entrepreneurship:
A Case Study on founder of
Kent RO System

Submitted by:
Harshita Dhamija
Roll no.: BMS/20/21
B.M.S. I semester

To:
Dr. Aanchal Gupta
Department of Commerce

ARYABHATTA COLLEGE
UNIVERSITY OF DELHI
 DECLARATION

I, Harshita Dhamija, student of Bachelor of Management Studies

(1st semester), in Aryabhatta College, University of Delhi, hereby
declare that I have made this academic project titled
‘Entrepreneurship: A Case Study on founder of Kent RO System’
as a part of the internal assessment for the subject ‘Business
Organization and Management’, for academic year 2020-21. The
project is submitted for the first time and here only and the
information submitted therein is true to the best of my knowledge.
I sincerely thank Dr. Aanchal Gupta and my friends for the help
extended by them for the successful completion of the project
report.

Date:8 February 2021

Harshita Dhamija
TABLE OF CONTENTS

Topic Page no
S.no

Introduction 1
1 (Concept of Entrepreneurship)

Meaning of Entrepreneur 2
2

What Is an Entrepreneur? 3
3

How Entrepreneurs Work 4

4

Importance of Entrepreneurship 5
5

What are the 4 Types of Entrepreneurship? 6

6

Characteristics of Entrepreneurship 7
7
 Becoming an Entrepreneur 8-9
8

Skills Required in Entrepreneurship 10

9

Entrepreneurship Ecosystem 11
10

Top Difference Between Businessman and 12

11 Entrepreneur

Objective of Research 13
12

Case Study 14
13

Analysis and Interpretation 16

14

Conclusion 17
15

Bibliography/References
16
 1

INTRODUCTION
Concept of Entrepreneurship

Entrepreneurship is that the ability and readiness to develop, organize

and run a commercial enterprise, alongside any of its uncertainties so
as to form a profit. the foremost prominent example of
entrepreneurship is that the starting of the latest businesses.

In economics, entrepreneurship when connected with land, labor,

natural resources, and capital can generate a profit. The
entrepreneurial vision is defined by discovery and risk-taking and is
an important part of a nation’s capacity to achieve an ever-changing
and more competitive global marketplace.
 2

Meaning of Entrepreneur

The entrepreneur is defined as someone who has the power and desire
to determine, administer and achieve a start-up venture alongside the
danger entitled thereto, to form profits. the simplest example of
entrepreneurship is that the starting of a replacement business venture.
Entrepreneurs are often referred to as a source of the latest ideas or
innovators and convey new ideas to the market by replacing old with
a replacement invention.

It is often classified into small or home businesses to multinational

companies. In economics, the profits that an entrepreneur makes is
with a mixture of land, natural resources, labor, and capital.

In a nutshell, anyone who has the desire and determination to start out
a replacement company and deals with all the risks that accompany it
can become an Entrepreneur.
 3

What Is an Entrepreneur?

An entrepreneur is a person who creates a brand-new business, bears

most of the risks, and enjoys most of the rewards of that business. The
entrepreneur is usually seen as an innovator, a source of latest ideas,
goods, services, and business/or procedures.

Entrepreneurs play a key role in any economy, using the talents and
initiative necessary to anticipate needs and convey good new ideas to
the market. Entrepreneurs who prove to achieve success in taking
over the risks of a start-up are rewarded with profits, fame, and
continued growth opportunities. Those that fail, suffer losses and
become less prevalent within the markets.
 4

How Entrepreneurs Work

Entrepreneurship is one of the resources which economists categorize

as integral to production, the other three being land/natural resources,
labor, and capital. An entrepreneur combines the primary three of
those to manufacture goods or provide services. They typically create
a business plan, hire labor, acquire resources and financing, and
supply leadership and management for the business.

Entrepreneurs usually face a lot of obstacles when building their

companies. The three that a lot of them cite is as the most
challenging are as follows:

1. Overcoming bureaucracy
2. Hiring talent
3. Obtaining financing
 5

Importance of Entrepreneurship

• Creation of Employment- Entrepreneurship creates employment.

It provides an entry-level job, required for gaining experience and
training for the unskilled workers.

• Innovation- It is the hub of innovation that provides new product

ventures, market, technology and quality of goods, etc., and also
increases the standard of living of people.

• Impact on Society and Community Development- A society

becomes greater if the employment base is large and varied. It
brings about changes in society and encourages facilities like
higher expenditure on education, better sanitation, fewer slums, a
higher level of homeownership. Therefore, entrepreneurship assists
the organization towards a more firm and high quality of
community life.

• Increase Standard of Living- Entrepreneurship helps to improve

the quality of living of a person by rising the income. The standard
of living means an increase in the utilization of various goods and
services by a household for a particular time period.

• Supports research and development- New products and services

need to be researched and tested before launching them into the
market. Therefore, an entrepreneur also allocates finance for
research and development with research institutions and
universities. This promotes research, general construction, and
development in our economy.
 6

What are the 4 Types of Entrepreneurship?

It is classified into the following types:

Small Business Entrepreneurship-
These businesses are a hairdresser, convenience store, travel agent,
consultant, carpenter, plumber, electrician, etc. These people run or
own their own business and hire members of the family or local
employees. For them, the profit would be ready to feed their family
and not making 100 million business or taking on an industry. They
fund their business either by taking small business loans or some
loans from friends and family.
Scalable Startup Entrepreneurship-
This start-up entrepreneur starts a business knowing that their vision
can change the whole world. They attract investors who think and
encourage people that plan out of the box. The research focuses on
scalable business and experimental models, so, they hire the simplest
and therefore the brightest employees. They require more venture
capital in order to fuel and back the project or business.
Large Company Entrepreneurship-
These huge companies have defined life-cycle. Most of those
companies grow and sustain by offering new and innovative products
that revolve around their main products. The change in technology,
customer preferences, new competition, etc., build pressure for giant
companies to make an innovative product and sell it to the new set of
consumers within the new market. To deal with the rapid
technological changes, the prevailing organizations either buy
innovation enterprises or plan to construct the merchandise internally.
Social Entrepreneurship-
Social entrepreneurship focuses on producing products and services
that resolve the needs and problems of society. Their only motto and
goal are to function for society and not make any profits.
 7

Characteristics of Entrepreneurship

Not all entrepreneurs are successful; there are certain characteristics

that make entrepreneurship successful. A few of them are as follows:

• Ability to take a risk- Starting a new venture involves a

considerable amount of risk of failure. So, an entrepreneur has
to be courageous and also able to calculate and take risks, which
is an essential part of being an entrepreneur.
• Innovation- He/she should be highly innovative in order to
generate fresh ideas, start a company and also earn profits from
it. Change can include launching of a new product line that is
new in the market or a process that does the same thing except
in a more efficient and economical way.
• Visionary and Leadership quality- To be successful, an
entrepreneur must possess a clear vision of his/her new venture.
However, in order to turn the idea into a reality, a lot of
resources and employees are required. Here, the quality of
leadership is supreme as leaders are the ones that impart and
guide their employees towards the right path of success.
• Open-Minded- In a business, each circumstance can be an
opportunity and can be used for the benefit of a company.
• Flexible- An entrepreneur should always be flexible and open to
any changes according to a given situation. To be on the top, a
businessperson must be ready to embrace change in a product
and service, as and when required.
• Know your Product- A company owner must be aware of the
product offerings and also of the latest trends of the market. It is
significant to know if the available product or service is
sufficient to meet the demands of the current market, or whether
it is time that it is tweaked a little. Being able to be accountable
and then amend as needed is an important part of
entrepreneurship.
 8

Becoming an Entrepreneur

Unlike traditional professions, where there's often an outlined path to

follow, the road to entrepreneurship is mystifying to most. What
works for one entrepreneur won't work for subsequent and the other
way around. That said, there are five general steps that the majority, if
not all, successful entrepreneurs have followed:

1. Ensure Financial Stability

This initiative isn't a strict requirement but is certainly recommended.
While entrepreneurs have built successful businesses while being not
even financially flush (think of Facebook founder Mark Zuckerberg
as a university student), starting out with an adequate cash supply and
ensuring ongoing funding can only help an aspiring entrepreneur,
increasing his or her personal runway and provide him longer to work
on building a successful business, instead of worrying about making
quick money.

2. Build a Diverse Skill Set

Once an individual has strong finances, it's important to create a
varied set of skills then apply those skills within the world. The
wonder of step two is it can often be done concurrently with the first
step.
Building a skill set may be achieved through learning and trying new
tasks in real-world settings. For instance, if an aspiring entrepreneur
features a background in finance, he can enter a sales role at his
existing company to find out the soft skills necessary to achieve
success. Once a varied skill set is constructed, it gives an entrepreneur
a toolkit that he can believe when he's faced with the inevitability of
tough situations.
 9

3. Consume Content Across Multiple Channels

As important as building a varied skill set is, the necessity to consume
a varied array of content is equally so. This content is often within the
type of podcasts, books, articles or lectures. The important thing is
that the content, regardless of the channel, should be varied in what it
covers. An aspiring entrepreneur should familiarize himself with the
world around him so he can check out industries with a fresh
perspective, giving him the power to create a business around a
particular sector.

4. Identify a Problem to Solve

Through the consumption of content across multiple channels, an
aspiring entrepreneur is in a position to spot various problems to
unravel. One business adage dictates that a company's product or
service must solve a selected pain point—either for an additional
business or for a consumer group. Through the identification of a
problem, an aspiring entrepreneur is in a position to create a business
around solving that problem.
It is important to mix steps three and four so it's possible to spot a
problem to unravel by watching various industries as an outsider. This
often provides an aspiring entrepreneur with the power to ascertain a
problem others won't.

5. Solve That Problem

Successful start-ups solve a selected pain point for other companies or

for the general public. This is often referred to as "adding value within
the matter." Only through adding value to a selected problem or pain
point does an entrepreneur become successful.

Say, for instance, someone identify the method for creating a dentist
appointment is complicated for patients, and dentists are losing
customers as a result. The worth might be to create a web
appointment system that creates it easier to book appointments.
 10

Skills Required in Entrepreneurship

1. Technical Skills: The technical skills required in

entrepreneurship are Oral Communication, ability to organize,
productive ability, technical business management, coaching,
network building, monitoring environment, ability to spot new
trends, active listening, writing and interpersonal skills.
2. Business Management Skills: Business Management Skills
required in entrepreneurship are Forecasting, planning,
budgeting, decision making, negotiation, goal setting, human
relations, marketing, finance, etc.
3. Personal Skills: Personal skills required in entrepreneurship are
Ability to manage change, leadership, persistence, self-reliance,
foresightedness, innovativeness, risk taking, self-reflection,
discipline, self-confidence, honesty, patience, intelligence,
tactfulness, emotional stability, etc.
 11

Entrepreneurship Ecosystem

Entrepreneurship operates under an ecosystem which is called as

entrepreneurship ecosystem. The ecosystem comprises of state
programs and schemes which encourage entrepreneurship, non-
governmental organizations that provide advisory services to
entrepreneurs, and other organizations which promote and support
entrepreneurship directly or indirectly.

Entrepreneurship isn't confined to starting a brand-new business but it

about facing challenges at each step. It's a crucial tool for bridging the
gap between science and marketplace, wherein a brand-new enterprise
is made and new products and services are delivered to the market.
 12

Top Difference Between Businessman and Entrepreneur

Businessman and Entrepreneur

It is a common assumption that a businessman and an entrepreneur

are the same, but both these words refer to a different individual
possessing a different approach to business. To speak it in other
words, a businessman is one who follows a defined path engraved by
some other person with an unoriginal idea, whereas an entrepreneur is
the one who thinks and believes in making his own path with new and
unique ideas.
In future, an entrepreneur can always become a businessman.
However, between businessman and entrepreneur, there is a thin line
of difference, which is that, a businessman is a market player,
whereas, an entrepreneur is a market leader.
 13

OBJECTIVE OF
RESEARCH

The objectives of this research are:

1) to discuss life narrative of a successful entrepreneurs and

2) examine the factors contributing to become successful

entrepreneur.

After the research on this case study on topic

Entrepreneurship, we will be able to easily comprehend how a
real-life entrepreneur thinks and indeed should think in order
to become a successful one. We will also learn the
characteristics and importance of entrepreneurship along with
knowing about an entrepreneurial ecosystem. The skills
required to become an entrepreneur will also be learned
through this research.
 14

CASE STUDY
Mahesh Gupta; Chairman Kent RO Systems

A mechanical engineer started in 1985, from a small room in his

house with just 20,000 which he had saved from his job with IOCL.

His first invention was in the field of petroleum conservation

instrument where he earned fame and half a dozen patents to his
credit.

His turning point came with the establishment of KENT RO

SYSTEM in the year 1998 when he charted out on a new enterprise
after jaundice gripped his son in a posh colony of South Delhi.

Knowing that jaundice is a water-borne disease, Gupta researched and

analysed all the available water purifiers in the market.

He was dissatisfied with available options and decided to make a

better-quality purifier. After several trials, he made his own water
purifier and became confident that is product is good enough to be
marketed. “Coming from an engineering background, making my
own water purifier was not a difficult task; all I needed to do was
export the components. – Mahesh Gupta

The experiment turned into success. And then I thought to bring it out
in commercially in the market. I started from scratch with an
investment of about 1 lac and a four-member team.

Today Kent has grown a 40% market share in RO mineral and has
turnover 580 crore and 2,500 employees.
15
 16

ANALYSIS AND
INTREPRETATION
From the above case study, we can analyze that:
1) Entrepreneurship is not a skill but a mindset which
doesn’t really require a formal education in business of
management.
2) Entrepreneurship is and basically requires a person to find
a prevalent problem in the society.
3) Evaluating, researching and analyzing the solutions to
that problem is a crucial step.
4) And finally coming up with the best possible and
dependable solution.
5) An entrepreneur also requires to market the solution to
the problem to general public at large so as to earn from
it.
6) There is no entrepreneurship without risk.
7) If the entrepreneurial experiment becomes widely
acceptable, it becomes a huge success.

To be successful in sustainable business practices often requires

entrepreneurship and innovation. The discussion is most relevant to
sustainable businesses focused on offering new products and services
in response to societal concerns. The importance of entrepreneurship
and innovation also applies to companies that change how they
produce products and services. The latter companies can use
innovative practices and entrepreneurship to establish their brand
name and to be market leaders in doing things that create shared value
for society and their companies and also, over time, contribute to
changes in practices in their industry
 17

CONCLUSION

• Entrepreneurship can be viewed as recognizing change,

pursuing opportunity, taking on risk and responsibility,
innovating, making better use of resources, creating new value
that is meaningful to customers, and doing it all over again
and again.

• Being an entrepreneur requires taking on significant

responsibility and comes with significant challenges and
potential rewards.

• Entrepreneurship is a mind-set, an attitude; it is taking a

particular approach to doing things.

• The motivations for becoming an entrepreneur are diverse

and can include the potential for financial reward, the pursuit
of personal values and interests, and the interest in social
change.

• Successful entrepreneurship often requires creativity and

innovation in addressing a new opportunity or concern in a
new way.
 BIBLIOGRAPHY

1. byjus.com
2. www.investopedia.com
3. businessjargons.com
4. bizztor.com (case study Kent)
5. data.conferenceworld.in