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Entrepreneurship 2

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  • 1. "Management is doing things right. Leadership is doing the right things."-Peter Drucker Entrepreneurship VAYAN – Networking Group Shantanu Bhadkamkar
  • 2. Content & Approach• Content – Entrepreneur – Family Business – Globalisation – Vision• Approach – Background – Experience Sharing – Anecdotes
  • 3. Practitioners PerspectiveEntrepreneur’s Perspective Family Of VoluntaryBusinesses Leadership NGO Work Perception Members Partners Management ExpectationsI May Have Lost A Lot For What I Am But What I Have Is Because Of What I Am
  • 4. 21 ST CENTURY"Our youth now love luxury. They have badmanners, contempt for authority; they show disrespectfor their elders and love chatter in place of exercise; theyno longer rise when elders enter the room; theycontradict their parents, chatter before company; gobbleup their food and tyrannize their teachers." — Socrates 300 BC
  • 5. ENTREPRENEUREntrepreneur is one who organizes a business venture and assumes therisk for it. -Wordnetweb Princeton • My son is now an "entrepreneur." Thats what youre called when you dont have a job. -Ted TurnerThe entrepreneur is essentially a visualizer and an actualizer... He canvisualize something, and when he visualizes it he sees exactly how tomake it happen. -Robert L. SchwartzEntrepreneurs are simply those who understand that there is littledifference between obstacle and opportunity and are able to turn both totheir advantage. -Niccolo Machiavelli
  • 6. Business Or Self Employed• Profession : a paid occupation, esp. one that involves prolonged training and a formal qualification• Technocrat : A technical expert, especially one in a managerial or administrative position• Self-employed: An individual who operates a business or profession as a sole proprietor, partner in a partnership, independent contractor, or consultant.• Business : the practice of making ones living by engaging in commerce* Are WE WORKING to earn? Or OUR MONEY IS WORKING to earn?*the activity of buying and selling
  • 7. Self Employed• Running Public Sector is like running a Boeing 747• Running MSME is like running a Fighter Jet • First has a scheduled route with huge support of gadgets, data and support crew • Latter has uncertainty, risk, sole mission, stress of success of a sortie, little or no time to think and respondTo be certain about something, one must know either too little or everything
  • 8. PROFESSIONAL - ENTREPRENURBudgeting Implementation• Planning • Detailed Steps Creates vision Devises strategy PROFESSIONAL ENTREPRENURAllocates Fixes variancesresources Sense of Sets direction Accomplishment
  • 9. Customer Welfare Enterprise We Are Many Things Survivor Together • A Complex Creature • A necessary evil • Ever Evolving Adaptable Small Entrepreneur Are We Dirtying Hands Customer’s Partner (Capital?) So That Others’ Hands • Sharing Profit But Not Loss, • Lends without Interest & Security Are CleanContract Is A Document, Conditions Of Which Apply Only To A Weaker Party
  • 10. ENTREPRENEUR’s decision Wisdom Judgment Knowledge Pattern Information Information Data Data Thinker Entrepreneur
  • 11. Heaven Or Hell MSMEPoliticians Customer CHITRAGUPTA Government Bank Officer
  • 12. Leadership
  • 13. LEADERSHIP PARADOX Caring Objective, matter of fact Dreamer Firmly entrenched on ground
"They dont care how much you know untilthey know how much you care.‖ -TheodoreRoosevelt
  • 14. TOO MANY BOSSES TOO FEW LEADERS • A lot Has been Written • You must have read or even written a lot Mould(s) To Cast • Theories will emerge & fade Leaders Why • Does reading create leaders? How • Do Role Models Create Leaders What • Foot Soldiers • Officer like QualitiesWhen people told me Id never make it, I listened to the one person who said Icould: me
  • 15. Particularly Tax Time Efficient Optimal Law Use Of Resources Ethical Compliant Leadership Robust Speed Systems & Optimised ProcessesShantanu Bhadkamkar ATC
  • 16. Less Competition• My grandfather once told me that there were two kinds of people: those who do the work and those who take the credit. He told me to try to be in the first group; there was much less competition.~ Indira Gandhi"There are no secrets to success. It is theresult of preparation, hard work and learningfrom failure."
  • 17. Personal Experience What does not kill you, will only make you stronger. - Neitze 1987 - Way AheadTook Charge Top Heavy Problems & Legacy at 26 Organisation Challenges "Men often become what they believe themselves to be." - Mahatma Gandhi
  • 18. Battalions Of Difficulties Bad Patch 1984 1985 1986 1987 WeakeningLost Key Personnel To Competitors Dead Wood Stayed Lost Almost All Main Customers Bad Press Competitors Stronger Antagonist Stronger Trust Repute Financial Income Tax Demand Customer Suit Bill Discounting Dishonored VRS Cost Lost Father - Founder
  • 19. MILESTONES Full Service Pan India • 1989 Trucking Division • 1995 - Opened Offices All Over India • 1990 IATA • Sales Offices • 1991 Air Consolidation • Full Service Offices • 1992 Ocean Import Forwarding • Competition • 1994 MTO - NVOCC • 2000- Trade Bodies • 1995 GROUPAGE • 1997 Door To Door Turn Around Global Network Assets • 1990 : Development of Agency Network • Owned • 1995 : Network Memberships Offices, Residence, Warehouse, Land • 2000 : Overseas Offices • Investments • 2002 – Trade Bodies • Subsidiaries • StocksShantanu Bhadkamkar ATC 19
  • 20. HBS (Un)LearningP PoliticalO UnderstandingLITI Leader & TactfulCA Handling OfL Manager Situations IsSK Inevitable EvenIL Task For Most L Specialist Worker Honest Leaders PROFESSIONAL SKILLS
  • 21. We Are Different MYTHS • Highest CompetitionHBS Case • • India Specific Industry Specific Study • • Company Specific Unique Customers • Export QualityFinance Is • Colour Of Money • Import Same • Export • Domestic Oil Field Sindhudurg ATC CHA Motors Trader
  • 22. MYTH & REALITY Professional Big Is Beautiful Set Business Management Family Generation MSME Sector Managed Vs. Success 80% Of Global Backbone Jobs 2nd - 30% Economy World Higher Return Wealth 3rd - 15% Economy India, Japan, Longevity Export, Taxes 4th - 4% GermanySSB 22 HBS Study
  • 23. Family-first Businessor Business-first Family?
  • 24. Strengths of Family Business They outperform non-family owned companies in sales, profit, and other growth measures Strengths:  High commitment/dedication from family as business owners.  Family members willingness to work harder and reinvest profits into the business for long term growth.  Willingness to pass on knowledge and experience  Family name and pride associated with the business.24
  • 25. Weaknesses of Family BusinessWeaknesses:• Poor Management, insufficient cash to fund growth.• Non-alignment of incentives among family members.• Lack of articulated practices and procedures.• Lack of discipline.25
  • 26. Stages of Family Business and Common IssuesOwnership Stage Dominant Shareholder issuesStage 1: The - Leadership transitionFounder(s) - Succession - Estate planningStage 2: The Sibling -Maintaining teamwork and harmonyPartnership -Sustaining family ownership -SuccessionStage 3: The Cousin - Allocation of corporate capital:Confederation dividends, debt, and profit levels - Shareholder liquidity - Family conflict resolution - Family participation and role - Family vision and mission - Family linkage with the business
  • 27. Overlapping Roles and Responsibilities Of Family Members Family Manager member Owner Director
  • 28. Putting ‘Business First’ Sample Family First Cos. Business First Cos. IssuesFamily Open-Door Policy for all family Qualification-BasedEmployment members, regardless of Employment, as for any other qualifications new hireCompensation Equal pay for all, regardless of their Merit-Based pay, based on experience or performance experience, performanceLeadership Leadership based on Seniority in Leadership granted to the right Family, regardless of merit or person (family or non-family), qualifications based on merit and qualificationsResource Business Resources used for Business resources only usedAllocation personal needs (e.g., loans, grants) for business purposes – separate family reserve fund utilized for family needs.Decision- Unilateral & Concentrated with Mulit-lateral, based on DefinedMaking Senior Family Member (e.g., Governance Structure (e.g., Chairman/CEO) Executive Committee)
  • 29. Sucession Planning • Most companies of all types and sizes fail within 20 years of their birth • According to statistics, the average survival time for family businesses is 24 years. • less than 30% survive into the second generation • barely 10% make it to the third • only about 4% to the fourth. 29
  • 30. Perseverance 20% 18% Die Hard 2nd Entrepreneur 1st Time Timer When people told me Id never make it, I listened to the one person who said ISSB could: me 30
  • 31. Arab Traders’ StoryList of fools Visits to India in Arabia • Finds MSME
  • 32. India Story
  • 33. Top Manufacturing 2006 2025 1 US 1 China 2 Japan 2 US 3 China 3 Japan 4 Germany 4 Germany 5 France 5 South Korea 6 UK 6 France 7 South Korea 7 India 8 Italy 8 UK 9 Brazil 9 Italy10 Canada 10 Brazil11 Russia 11 Russia12 India 12 Indonesia13 Spain 13 Mexico14 Mexico 14 Taiwan15 Indonedia 15 Canada
  • 34. Youngest China GDP Will Nation Exceed USA In 2027 Average age: India 28 India Will Be China 39 Europe 45 Close 3rd Africa Next • Natural Resources Growth • Land Engine • ManpowerShantanu Bhadkamkar 34
  • 35. STRATEGIC LOCATIONs Movement of Containerised Cargo Movement Of Goods by Road West North Rail (21%) Rail (50%) North Road (79%) Road (50%) South East Rail Kolkata Mundra 8% West 0.1 (23%) Rail (14%) Kandla 6 Haldia Pipavav % East Road (77%) Road (86%) Mumbai 0.6 South JNPT Note : % indicates share of the route in total port movements from that region. Only Top 3 routes considered Note : Nos in coloured bars indicate Mn TEU Chennai Source: Avalon Consulting analysis Cochin Tuticorin NH3 & NH4 Connects North – West – South. It is estimated that 50% of Cargo by Road either originates or transits or terminates in Maharashtra.23/09/08 – PR/pr 35
  • 36. New Regional Formations will Emerge (Like EU) Global Good Relations Indian Perception Of With Entrepreneur’s India’s Neighbours Canvas BoundariesShantanu Bhadkamkar ATC
  • 37. Global Leadership GLOCAL"To lead the people, walk behind them."
-Lao Tzu
  • 38. Indian economy Sheth Jagdusha (1210-1275) Donated Rs 4 Cr in 3 Famines 1760 : House of Jagat Seth - Capital = Rs 7 CrERA %AGE OF WORLD GDP RANKING1 AD 32.9 11000 28.9 11500 24.5 2 (Close)1700 24.4 11870 12.21913 7.61952 3.8 71973 3.12010 6 4 38
  • 39. COUNTRY Advantage India’s Geographical Location for Position Outsourcing a Range • Major Asian of Activities Transport Hub • Manufacturing • Distribution Hub • IT and IT Enabled • Communication Services Highly Evolved Domestic Market Banking System • Growth • India’s Security • Young Population Focused Banking • Democracy RegulationsShantanu Bhadkamkar - MACCIAShipping & Aviation Committee 39 Eyefortransport India Market Report 2007
  • 40. 1975 49% 17 % 13% 40Shantanu Bhadkamkar
  • 41. 2005 40% 16 % 26% 41Shantanu Bhadkamkar
  • 42. 2025 30% 13 % 50% 42Shantanu Bhadkamkar
  • 43. The Next Practice In Value Creation C. K. Prahalad Improvement "If you dontWhat does not kill • Next stand for you, will only Practice • Innovation something, make you youll fall for stronger. anything..." - Neitze Best Practice Academic | Policy Fidelity Emphasis Generated• Future • Adaptive • Trials Focused • Practitioner • Context | User Sensitive Generated Current Focus Adoptive PilotsShantanu Bhadkamkar ATC
  • 44. Diffusion of Innovation And Leadership
  • 45. Michael Faraday Generated Electric Current Using A Dynamo“Mr. Faraday, but what is the use of electricity?” • “Your Majesty, what is the use of a new-born child?“ – To Queen Victoria • “Why, sir, there is every possibility that you will soon be able to tax it!” – To PM William Gladstone
  • 46. … Yet you can take pride of your little empire INDIAN VISIONARIES • JAMSHEDJI TATA : Steel, Power, Technical Not everyone can be Tata, Birla, Ambani Education • S.L. KIRLOSKAR : Export of finished products, Core Competancy, Liberalisation • SHETH WALCHAND : Shipping, Construction, Agro Products … Sea, Land, Air • Dhirubhai Ambani : Project Execution, Global Scale ―Think big, think fast, think ahead. Ideas are no ones monopoly‖Shantanu Bhadkamkar ATC 46 - Dhirubhai Ambani,
  • 47. Success TrapsNo Challenger• Know-it-all Successor Syndrome • Isolation – Lonely At Top Keeping Existing Team • Captured By Wrong People Taking On Too Much • Past Glories
  • 48. Determining Strategic ActionsLong Term • Core IdeologyVision Has • An EnvisionedTwo Parts FutureDeveloping A Long • Strategic Intent Term • Means & Resources Vision 13-48
  • 49. WHY VISIONFuture as You StrategicKnow Today? Thinking We didnt know what to Getting expectReady to Get Ready We didn’t know future arrived
  • 50. Youth Emancipation Inclusive Minority & Egalitarian Women Weaker Section BUSINESSES EmpowermentCII Weaker Section USA Minority Initiative Rural & Semi Preferential Urban Shantanu Bhadkamkar ATC
  • 51. Newer Business Models • Assets & Services will be different Businesses • Most will be multi location • From Quality to Innovation • Trend Continuous Innovation • IPR driven • Innovation Entrepreneurial • Mobile, Home Office • Sales Oriented - Intense Competition to Blue Sea Strategy • Set Standards - Set Trends – not laggard, not follower • Safety – Security – Green • Inclusive Growth ModelsShantanu Bhadkamkar ATC
  • 52. New Industry Drivers• TODAY : Retail & Automobile Industry are the drivers of the organised logistics Industry. With IT giving the cutting edge.• 2025 : Like Automobile Industry today & for the same reasons, Retails & even IT, will be laggards in 2025. New industries will drive logistics & set new rules of he Game. • Alternate Fuels dependent Industries like Fuel Cell, Nuclear Plants, Bio Fuel • Nano Technology • Space Travel • Biotechnology  Artificial Intelligence & Alternate Fuel will give the cutting ageShantanu Bhadkamkar ATC
  • 53. Finance – Market ValuationRobust Supply ChainReturn on Service rendered more than assets employed o Low Interest Rates o Single Currency or Unified Currency or close to itCost Of Unreasonable ContractsOutsource vs. PurchaseFinance: Wealth will be measured in Intellectual Capital & Innovation Shantanu Bhadkamkar ATC
  • 54. Top mistakes• Back Up Plan• Surround Yourselves By People Who Want To Make You Win• Cash Is King• Heart Or Head• Know The Numbers: Precise + Accurate• More Opportunities Are Created In Crisis• Strategic Withdrawal GREED - FEAR
  • 55. SMART GOALS • Specific – Clearly defined by those who have the
knowledge about their impact • Measurable – Quantifiably defined in such a way as to
gauge progress • Achievable – Challenging and rewarding, but still
within reach • Relevant – Tied to current critical tasks and abilities of the team • Time-based – Linked to an agreed-upon timelineShantanu Bhadkamkar ATC 55
  • 56. MOTIVATIONThe greatest problem to overcome… FEAR!The most crippling disease… EXCUSES!The two most power-filled words… I CAN!The greatest natural resource… ENERGY!The greatest ―shot in the arm‖… ENCOURAGEMENT!
  • 57. SELF BELIEF 57
  • 58. Time Management 70% Crisis is Self Created: 30% Crisis is Circumstances / Environment CreatedURGENT & IMPORTANT •Urgent & Important are notGets Top Priority on time scale IMPORTANT BUT NOT •Urgent means attention URGENT Gets SidelinedURGENT BUT NOT •Whole lot of routine is UrgentIMPORTANT but not ImportantTime Robbers •It is due to urgent factor NEITHER URGENT NOR rather than important you get IMPORTANT Time Waste PRESSURE 58
  • 59. The biggest impediment of understanding the The biggest impediment past is that we know of understanding the the present Future is that we are attached to the presentShantanu Bhadkamkar ATC