Other people see things and say Why? .

But I
dream things that never were and say Why not?

George Bernard Shaw

 OF YOU-
Entrepreneurship
(EDP)
RAHUL JAIN
(Striving for excellence)
BCOM (H), MBA, FCS
Aim of the Module
To train and develop students to become
effective Entrepreneurs.
To understand the planning process
required for setting up a small business.
COURSE GUIDELINES
Meaning of Entrepreneurship
Various types of industries
Steps to set up an Enterprise
Banking and finance
Industrial / commercial laws
Project identification and compilation of
project reports
Learning Outcomes
Understand what it takes to be an
entrepreneur
Understand how to raise funds
Have an idea of regulatory requirements
of staring and running a business
Be able to create a rudimentary business
plan
Focus Points
Entrepreneurship the motivations, the risks, rewards, impact
Seeing opportunities, identifying profitable opportunities
Creating a business plan- its content and importance as a tool
Starting a company and the regulatory requirements
Raising money to start the business-bootstrapping, enrolling investors
to your plan
Getting loans- what do banks need
Selling and getting the first clients
What makes my business different than competition?
Building a team- getting people to believe in the venture
Making mistakes, changing plans, mutilating, adapting to what
customers want
Cash flows the oxygen of any business
Project- creating a business plan and presenting to potential
investors/stakeholders
 Concepts, Cases and Class Discussion
Punctuality, Participation and Preparation

Our Strategy for

(Its compulsory to bring your own calculators,
Pen, Stationary, Registers, Prescribed Book,
achieving these
Printouts of the Emailed documents-
Otherwise necessary disciplinary action will
be taken)
Objectives?
Judgment challenge
Learning to communicate ideas
Learning from each other
Learning through discovery
Some Important rules
Switch off your Mobiles
Attendance rules will be strictly applied
Non completion of Assignment will lead to strict
disciplinary measures
Students can gather additional bonus points by
being a Star Performer in the whole course.
Students falling in the Improvement category
would be penalized.
If Attendance is less than 75% then one grade will
be reduced in respective Viva/Exam/Log Process.
I dont design clothes, I
design dreams.

- Ralph Lauren

- 11 -
BROOKLYN BRIDGE THE VISION
OF JOHN ROEBLING

Brooklyn Bridge in the New

York city stands in all its
glory as a tribute to the
triumph of one man's
indomitable spirit and his
determination not to be
defeated by circumstances.
Its a tribute to the
engineers and their team
work, and to their faith in a
man who was considered
mad by half the world.
Case of IPL
Out of Box Thinking

Able to raise around $2 billion for BCCI

One of the Most successful Cricket

tournament

Satisfied all the stakeholders of the Cricket

Entrepreneurship
Development
By- Rahul Jain
Today
Introduction to Entrepreneurship
Economist's view
Calculated Risk
Entrepreneurial Competencies
Classification of Entrepreneur
Economic Development
What is Entrepreneurship?
Organizing a business venture and assuming the risk for it.

An entrepreneur is a person who is willing and able to

convert a new idea into a successful venture.
Entrepreneurship is a process of converting a new idea into
a successful venture
Entrepreneurship
Founding entrepreneur who identifies the
opportunity and moves to exploit it commercially.
Often it is the founder (or founding team) who
possesses much of the technical and managerial
knowledge that make-up the tangible and
intangible assets of the firm. In sum, an
entrepreneurs expanding knowledge base and
absorptive capacity becomes an entrepreneurial
firms competitive advantage (Alvarez and
Busenitz 2001, p.766).
What is Entrepreneurship?
Practice of starting new organizations or revitalizing mature

organizations

Particularly new businesses in response to identified opportunities.

Entrepreneurial activities has a vast range

It ranges in scale from solo projects to major undertakings

creating many job opportunities.

Entrepreneur is one who organizes, manages and assumes the

risk of a business enterprise.

Who is an entrepreneur ?
He who has a vision

Has the hunger to make something from nothing

Is Never Finished

The Risk Factor

He is having fun!!!
Calculated Risk
We must estimate the cost and consequences

Must weigh the cost against benefits

Must analyze our resources thoroughly and maneuver them

Time is of prime importance

We must estimate & ensure protection against all odds

The Art of
Entrepreneurship
Most Crucial Resource PEOPLE

Leadership

The Military Concept

Sun Tzu's The Art of War, Chang Yu says:

"Benevolence and righteousness may be used to govern a state but

cannot be used to administer an army. Expediency and flexibility are used

in administration an army, but cannot be used in governing a state."

Entrepreneurial Venture Neither an army nor a state

Middle of Leadership extremes

Motivation
Entrepreneurship vs. Wage
Employment
Wage Employment Entrepreneurship
Work for Others Own boss
Follow instructions Make own plans
Routine job Creative activity
Earning is fixed, never Can be negative
negative sometimes
Can choose from: Can choose from:
Government Service Trade
Public sector Product or
Private sector Service Enterprise
Entrepreneur vs. Manager
Entrepreneur Manager
Involved with the Involved with running
start-up process the business
Assumes financial, Does not have to bear
material and risks
psychological risks Driven by the
Driven by perception resources he currently
of opportunity possesses
Initiates change Follows rules &
Own boss procedures
Gets uncertain Hired employee
rewards Gets fixed rewards
and salary
Entrepreneurial
Competencies
Initiative Systematic Planning
Sees and Acts on Problem solving
Opportunities Self-confidence
Persistence Assertiveness
Knowing/Information Persuasion
Concern for High Use of Influence
Quality of Work Strategies
Commitment to Work Monitoring
Contract Concern for Employee
Efficiency Orientation Welfare
Classification of
Entrepreneurs
Trading Entrepreneur
Industrial Entrepreneur
Agricultural Entrepreneur
Economic Development
Wealth creation
Creation of jobs
New technologies
Improved products & services
Improved standard of living
Development of new markets
Better/Optimal utilization of resources
Famous Fashion
Entrepreneurs
Ralph Lauren the designer who
provided luxury at all price points.
He sold the clothes, but he also sold the
fantastic, romanticized lives of the people
who wear the clothesthe look of success.
Ralph Lauren said People ask how can a
Jewish kid from the Bronx do preppy
clothes? Does it have to do with class and
money? It has to do with dreams.
Famous Fashion
Entrepreneurs
Rene Lacoste was the one who bridged the
gap between fashion and sports.

Rohit Bal is known for his sophisticated

cuts and breathing fabrics. He weaves in
the best for both men and women.
However, there is no one-signature style
that the designer sticks to.
Fashion Entrepreneurship

Fashion entrepreneurship is about

combining design, business, and
manufacturing knowledge
Some things can be outsourced or bought
inbut some things are critical for the
fashion entrepreneur or the management
team.
Ritu Kumar
Ritu Kumar .
Ritu began her venture with four hand-block
printers and two tablets; in a small village
near Kolkata in the late 60s was
incidentally the first woman to introduce
the boutique culture in India under the
brand name Ritu.
Today she has thirty four outlets in all major
cities in India and one outlet in America
Critical Capabilities
Capability 1: Ability to develop a new
symbolic language - a style - that is
experienced as distinctive, consistent, and
new.
Capability 2: Ability to manage the process
of communication on which fashion
depends.
Capabilities
Ability to understand and manage
strategic, marketing, financial and
branding issues for the fledgling firm.
An Economists View
Economists places emphasis on innovation, such as:
New products

New production methods

New markets

New forms of organization

An entrepreneur forces "creative destruction" across markets and

industries.

Simultaneously creating new products and business models.

Individual Assignment: I
(To be shown in IInd class)
Individual Assignment
Make a folder/file of Learning Journal and Assignments
1) Individual Assignment- Writing of Key learnings of Videos,
Readings & Class 1 in Learning Journal file (One page)
2) Individual Assignment: One page on start up lessons from:
http://www.entrepreneurswebsite.com/2010/12/27/10-startu
p-lessons-from-the-bollywood-movie-band-baaja-baraat/
3) Individual Personality exercise- Write the Vision statement of
your life ( Both professional and personal) & Short term
professional goals. ( In A4 sheet)
Refer : www.finishingschool.pbworks.com ,
rahuljain16@hotmail.com , 9811228852
 Readings for the Next class
Idea and Opportunity (PPT Document)

Business News
Class Assignment II- Email
Submission on IIIrd Week:
Group Submission- 29th
Select a well-known fashion entrepreneur. Examine and
October

research the factors, such as personal qualities, professional

skills, and situational characteristics, which made the
entrepreneur successful.
You have to dress as per the look/style of fashion
Entrepreneur
5 Minute PPT
Provide References and Intext citations

Email submission and upload on the internet: 2 days

before the next class rahuljain@globalexperts4u.com,
9811228852
VIVA
1st November ( First three class topics &
Assignments)
Thank You!