Other people see things and say ‘Why?’
…. But I dream things that never were
and say ‘Why not?’
George Bernard Shaw
WELCOME TO ALL
OF YOU
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
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Focus Points
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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
Our Strategy for achieving these
Objectives?
Concepts, Cases and Class Discussion
 Punctuality, Participation and Preparation
(Its compulsory to bring your own calculators,
Pen, Stationary, Registers, Prescribed Book,
Printouts of the Emailed documentsOtherwise necessary disciplinary action will
be taken)
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Judgment challenge
Learning to communicate ideas
Learning from each other
Learning through discovery
Some Important rules
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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 don’t 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. It’s 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
Point to Ponder !

If given an option, what would you choose
in long term and why?

Working
for
an
a
Designer/
Company.

Working for an MNC.

Setting up your Own enterprise

Others…
an
Indian
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
entrepreneur’s expanding knowledge base and
absorptive capacity becomes an entrepreneurial
firm’s 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
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Has the hunger to make something from nothing
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Is Never Finished
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The Risk Factor
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He is having fun!!!
Calculated Risk
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We must estimate the cost and consequences
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Must weigh the cost against benefits
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Must analyze our resources thoroughly and maneuver them
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Time is of prime importance
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We must estimate & ensure protection against all odds
The Art of Entrepreneurship

Most Crucial Resource  PEOPLE
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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
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Middle of Leadership extremes
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Motivation
Entrepreneurship vs. Wage Employment
Wage Employment
Entrepreneurship
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Work for Others
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Own boss
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Follow instructions
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Make own plans
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Routine job
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Creative activity
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Earning is fixed, never
negative
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Can be negative
sometimes
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Can choose from:

Can choose from:
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Government Service
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Trade
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Public sector
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Product or
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Private sector
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Service Enterprise
Entrepreneur vs. Manager
Entrepreneur
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Involved with the
start-up process
Assumes financial,
material and
psychological risks
Driven by perception
of opportunity
Initiates change
Own boss
Gets uncertain
rewards
Manager
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Involved with running
the business
Does not have to bear
risks
Driven by the
resources he currently
possesses
Follows rules &
procedures
Hired employee
Gets fixed rewards
and salary
Entrepreneurial Competencies
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Initiative
Sees and Acts on
Opportunities
Persistence
Knowing/Information
Concern for High
Quality of Work
Commitment to Work
Contract
Efficiency Orientation
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Systematic Planning
Problem solving
Self-confidence
Assertiveness
Persuasion
Use of Influence
Strategies
Monitoring
Concern for Employee
Welfare
Classification of Entrepreneurs
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Trading Entrepreneur
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Industrial Entrepreneur
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Agricultural Entrepreneur
Economic Development
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Wealth creation
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Creation of jobs
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New technologies
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Improved products & services
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Improved standard of living
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Development of new markets
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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 clothes—the 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
in…but 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 Economist’s View
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Economists places emphasis on innovation, such as:

New products
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New production methods
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New markets
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New forms of organization
An entrepreneur forces "creative destruction" across markets and
industries.
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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
2) Individual Assignment: One page on start up lessons
from: http://www.entrepreneurswebsite.com/2010/12/27/1
0-startup-lessons-from-the-bollywood-movie-band-baajabaraat/
3) Individual Personality exercise- Write the Vision and
Mission statement of your life ( Both professional and
personal) & Short term professional goals. ( In A4 sheet)
Refer : www.finishingschool.pbworks.com
Readings for the Next class

Idea and Opportunity (PPT Document)
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Business News
Class Assignment II- To be
Submitted on IIIrd Week: Group
Submission

Select a well-known fashion entrepreneur.
Examine and research the factors, such as
personal qualities, professional skills, and
situational characteristics, which made the
entrepreneur successful.
5 Minute PPT
 Provide References and Intext citations
Email submission and upload on the
internet: 2 days before the next class
rahuljain@globalexperts4u.com,

Thank You!