Corporate Entrepreneurship Management in India

What is Entrepreneurship?
Capacity to take risks Ability to own and organize Desire and capability to innovate and diversify

Who is an entrepreneur?
Person conducting own business (Webster) Person who sets up business deals in order to make profits (Collins Cobuild) Organizer of an economic venture, one who owns, organizes, manages, and assumes the risks of the business (Chandrashekhar)
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Why entrepreneurship?
Process of creating something different, with value, by devoting necessary time and effort, by assuming the accompanying financial, psychological, and social risks, and receiving the resulting rewards of monetary and personal satisfaction.

Role of the Entrepreneur

An innovator who combines technical innovations and financial finesses. Important role in producing competitive products, processes, and services. Generation of new employment Local and regional economic development Improved allocation of resources and transfer of technologies
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Entrepreneur as an Economic Pioneer

Introduction of new goods and products Introduction of new processes and methods of production Opening up of new markets Opening up of new sources of supply Industrial re-organization

Entrepreneurship and Small Businesses

Entrepreneurship is especially critical in small businesses because: Important sources of competition for large firms; challenge their economic power Offer a wide range of choice to consumers Sources of innovation and creativity Good career opportunities to work in an unstructured environment of a small company
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Corporate Entrepreneurship
A process whereby an individual or a group of individuals, in association with an existing organization, creates a new organization or instigates renewal or innovation within the organization.

Reengineering Corporate Thinking

Steps that will help innovative people to develop an entrepreneurial mindset: Set explicit goals. Create a system of feedback and positive reinforcement. Emphasize individual responsibility. Give rewards based on results. Do not punish failures.
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Organizational Entrepreneurial Intensity

Innovativeness: attempts to embrace creativity, experimentation and novelty. Risk taking: committing a high percentage of resources to projects with uncertain outcomes, and entering unknown markets. Proactiveness: Acting rather than reacting to the environment Nike slogan Just do it Distinction between the inventor and the intrapreneur.
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INTRAPRENEURSHIP
Those who take hands on responsibility for creating innovation of any kind within an organization.
The intrapreneur may, or may not be the inventor but is always the one who figures out how to turn an idea into a profitable reality.
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INTRAPRENEURIAL GRID
Artist Intrapreneur

Inventor Manager Planner Vision Worker Action

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10 COMMANDMENTS OF AN INTRAPRENEUR

Build your team, intrapreneuring is not a solo activity. Share credit widely. Ask for advice before you ask for resources. Underpromise and overdeliver publicity triggers the corporate immune system. Do any job needed to make your dream work, regardless of your job description. Remember it is easier to ask for forgiveness than for permission. Keep the best interests of the company and its customers in mind, especially when you have to bend the rules or circumvent the bureaucracy. Come to work each day willing to be fired. Be true to your goals, but be realistic about how to achieve them. Honor and educate your sponsors.
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CONCLUSION
Entrepreneurship is a challenging and rewarding profession Need to concentrate on market analysis, financial resources, and technology management Cannot compete directly with the big guys, so need to be ingenious and innovative in all entrepreneurial functions

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Brijmohan Lall Munjal

In 1944, when Brijmohan was 20, his family sensed partition, So Brijmohan along with his elder brothers Dayanand Munjal, Satyanand Munjal and his younger brother Om Prakash Munjal came to India and settled in Amritsar. The brothers initially started a business by supplying components to manufacturers of bicycles in and around Amritsar. After the partition in 1947 the Munjal family completely shifted their base from Pakistan to Ludhiana. In 1954 Hero Cycles Ltd moved up the value chain by making a shift from supplying to manufacturing. They started manufacturing handlebars, front forks and chains. In 1956, the Punjab Government issued tender notices for twelve new industrial licenses to make bicycles in Ludhiana. Brijmohan Lall Munjal and his brothers participated in the bid and won the contract. Hero Cycles was registered as a large-scale industrial unit. The capital was partly financed by the Government of Punjab. Before entering into a joint venture with Honda Motors, Dr. Munjal started the Majestic Auto Limited and started manufacturing Hero Majestic Moped. To manufacture motor cycles in 1984 the Hero Group started a joint venture with Hero Honda and established a plant at Dharuhera Haryana. Hero Group expanded so big that by 2002 they had sold 86 million Bikes producing 16000 motorcycles a day.
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Sabeer Bhati was born in Chandigarh on 30 December 1968. He grew up in Bangalore and had his early education at The Bishop's School in Pune, then St. Joseph's Boys' High School in Bangalore. In 1988 he went to US to get a bachelor's degree at the California Institute of Technology after a foreign transfer from BITS Pilani, Rajasthan. He earned a master's degree in electrical engineering from Stanford University. Career After graduation, Sabeer briefly worked for Apple Computers as a hardware engineer and Firepower Systems Inc. While working there he was amazed at the fact that he could access any software on the internet via a web browser. He, along with his colleague Jack Smith, set up Hotmail on July 4, 1996.
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OTHER INDIAN ENTREPRENEURS

T. V. Sundaram Iyengar (18771955) the TVS Group

K. C. Mahindra, the Mahindra Group

Capt. G. R. Gopinath, Air Deccan, vicechairman of Kingfisher Red

Subhash Chandra (1950- ) chairman of the Essel Group, launched Zee TV, the first Hindi satellite television channel
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