Report on entrepreneurship


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Report on entrepreneurship

  2. 2. CONTENTSTOPICS PAGESIntroduction to Entrepreneurship 1Entrepreneurship in India 2An Entrepreneurial Career 3Introduction to the Project 4Personal Vitae of the Entrepreneur 5Detail Information about the enterprise 6Interview Report 7-9Findings and Conclusions 10
  3. 3. 1 INTRODUCTION TO ENTREPRENEURSHIPThe entrepreneurship is usually understood with reference to individual business.Entrepreneurship has rightly been identified with the individual, as success of enterprisedepends upon imagination, vision, innovativeness and risk taking. The production is possibledue to the cooperation of the various factors of production, popularly known as land, labour,capital, market, management and of course entrepreneurship. The entrepreneurship is a risk-taking factor, which is responsible for the end result in the form of profit or loss.According to A Schumpeter “The entrepreneurship is essentially a creative activity or itis an innovative function”.The economic activity with a profit motive can only be generated by promoting an attitudetowards entrepreneurship. The renewed interest in the development of entrepreneurship totake up new venture should emphasize on the integrated approach. The developments ofentrepreneurship will optimize the use of the unexploited resources, generate self-employment and a self sufficient economy.Entrepreneurship is vibrant assertion of the facts that individual can be developed, thenoutlook can be changed and their ideas can be converted into action though on organized andsystematic program for entrepreneurs. It was also felt that systematic training can be given abetter output and attracting people for taking up business venture can change economicscenario.The young entrepreneur should be motivated to come out with determination to do somethingof their own and also to contribute to the national income and wealth in the economy. If thecountry wants to achieve the growth at the grass root level, through social justice and thecrimination of poverty, it will have to provide institutional support and structural changes inorganization of financial institutions to promote entrepreneurship development. Industrialdevelopment in any region is the outcome of purposeful human activity and entrepreneurialthrust.As entrepreneur by implication is one who ventures out, who prefers change as a means ofgrowth and it the process is prepared to take a calculated risk while taking risks he is aware ofthe possibilities, success as well as the consequence of failure.
  4. 4. 2 ENTREPRENEURSHIP IN INDIAEntrepreneurship has been ‗embedded in the Indian genius and is a part of its tradition‘.To quote the renowned economist, T.N. Srinivasan, „India has been an entrepreneurialsociety…we had the entrepreneurial skill but suppressed it for too long a time… andnow it is thriving.‟The entrepreneurial spirit is an ongoing characteristic of India‘s history, particularly visible ina number of communities engaged primarily in trading. Traditionally, the Entrepreneurship ofsuch communities is facilitated principally by the successful use of informal ‗entrepreneurialecosystems‘ and interdependent business networks. Further, there is also a rich traditionwithin the Indian prospects, spanning the past several hundred years, whose spirit ofenterprise is legion.The salience of Entrepreneurship in India has intensified in recent times, particularly with therise in knowledge-intensive services. New entrepreneurs who do not belong to traditionalbusiness communities have begun to emerge in large numbers. Entrepreneurship has grownrapidly, visibly so, creating wealth and generating employment, especially in the past twentyyears. Crucial efforts initiated after economic liberalization — including systematic attemptsto reduce the ‗licence raj‘, greater efforts to make finance more easily accessible toentrepreneurs and other institutional support to ‗techno-preneurs‘ — have helped improve theclimate for Entrepreneurship. The software industry, in particular, its initial growth arisinglargely out of the ‗interstices inadvertently left untouched by the State‘, has today taken giantstrides, with the top companies working ‗within the market and with a fuller understanding ofthe rules of international commerce‘.Thus, the opportunities created by today‘s global knowledge economy coupled with the‗unshackling of indigenous enterprise‘, have contributed to making India a ‗fertile ground‘for Entrepreneurship.Statistics on the growth of India‘s technology driven entrepreneurship are telling. In a recentsurvey by the Deloitte group, India ranks 2nd globally as home to the fastest growingtechnology firms. 82 Indian companies entered the Deloitte Technology Fast 500 list of Asia-Pacific Companies in 2007 and the companies that have made it to the Technology Fast 50 ofIndia have an average three-year revenue growth of 489%. In this respect, particularly in highskill innovation driven Entrepreneurship, the opportunities offered by complex andinterconnected global networks are also relevant.
  5. 5. 3 AN ENTREPRENEURIAL CAREEREntrepreneurship plays an important role in the economic growth and development of nation.It is a purposeful activity includes in initiation, promotion and distribution of wealth andservice. An entrepreneur is a critical factor in economic development and an integral part ofthe socio-economic transformation. It is a risk taking activity and challenging tasks, needsutmost devotion, total commitment and greater sincerity with fullest involvement for hispersonal growth and personality. The entrepreneurial career is not a one day job nor it is bedof roses. Prosperity and success never come easily. It takes time and needs hard work.Systematic planning and business acumen to be successful entrepreneur.Therefore, before choosing this path one should be very careful in knowing about his/her ownself confidence. This introspection process helps him/her in knowing about himself/herself.Every person has his/her own potentiality and resource. How he/she looks in to this aspect. Ifthe person cans understand or identify his/her inner traits then it helps him/her choosing theright path for which he should look into his/her beliefs, faith values etc. For an entrepreneur itis of great importance to know about himself/herself on the basis of above mentionedindividual consideration. These consideration give him/her ample scope to face his own selfby asking the question ―Who I am?‖ If he/her can give meaning answer to this complexquestion with exemplary courage and utter personal disregard to being exposed, then it helpshim/her in getting a fair idea about himself/herself. On the whole it helps him/her to makingthe right decision in choosing the right path for getting involved for deciding the futurecourse of action. This is nothing but a self-identification process. After having being properidentified his/her strength, weakness and ability, he/she can make a decision of his/herchoice, whether he/she will take up entrepreneurship as a career or not. If yes, then in whichentrepreneurial area.Choosing entrepreneurial career is like choosing a life partner. The person has to be there inthe job forever and may have to continue in that chosen line for generations to generation andgrows in this process if it is matching; if it mismatches it goes the other way round.Considering this aspect he/she should always be governed by three basic qualitative instinctsto serve in the world of uncertainty. These are –Will, Zeal, and Skill.
  6. 6. 4 INTRODUCTION TO THE PROJECT OBJECTIVES OF THE PROJECT What exactly "Entrepreneur‖ means. The present scenario of local entrepreneur. How an entrepreneur shape out the idea of innovation to undertake new businesses. The factors affecting to a new entrepreneur. The motivational factor of an entrepreneur. The other factors who supports to a new entrepreneur. METHODOLOGY Surfing Internet Using library Books, Journal and Magazines. Personal Interview with the Entrepreneur. Field Study of the business undertakings of the Entrepreneur.
  7. 7. 5 MR. RAJIB SAIKIA (ENTREPRENEUR)Mr. Rajib Saikia, who had a dream to establish his own business and now became one of the most successful entrepreneur of Guwahati, gives an interview to us for our study of “Entrepreneurial Journey of a local Entrepreneur”.Computer World and Services, located in Rukminigaon and Ganeshguri and Green ValleyInfra Project (Construction work Company) are the two business undertakings which areowned by him. When there are only a few business enterprise are operated in Guwahati metroareas of Computer Sales, then he takes the risk of opening new business enterprise ofComputer Sales and Service. He takes the opportunity to undertake this risk bearing businessin greater Guwahati and become the first entrepreneur to open the Computer Sales andService enterprise at Ganeshguri area. PERSONAL VITAE OF THE ENTREPRENEUR NAME : Mr. Rajib Saikia FATHER‟s NAME : Late R. Saikia DATE OF BIRTH : 6th March 1970 SEX : Male EDUCATIONAL QUALIFICATION : HSLC at Biswanath Chariali HS at Sibsagar B.COM under IGNOU MCA under IGNOU PRESENT ADDRESS : Chachal Road, Six-Mile Guwahati PERMANENT ADDRESS : Biswanath Chariali, Tezpur
  8. 8. 6 DETAILED INFORMATION ABOUT THE ENTERPRISEOWNER OF THE ENTERPRISE : Mr.Rajib SaikiaTYPES OF PROPRIETORSHIP : Sole ProprietorshipNAME OF THE ENTERPRISE : Computer World and Services Green Infra ProjectNATURE OF THE BUSINESS : Computer Sales and Services Construction WorkLOCATION OF THE ENTERPRISE : Ganeshguri and Rukminigaon, GuwahatiESTABILSHMENT : Computer World and Service – 1997 Green Infra Project – 2006DEALING BRANDS : HP, Lennovo, Gigabyte, HCL, Samsung, Dell, Etc.CONSTRUCTION SITE : Shanti-Nivas, Ghoramara, Bhetapara, GuwahatiEMPLOYEE ENGAGED : Computer World and Service – 16 Green Infra Project – 25-30SUPPLY AREAS : Entire North-East
  9. 9. 7 AN INTERVIEW WITH MR. RAJIB SAIKIAResponding to our questionnaire, Mr. Rajib Saikia, a well known entrepreneur of greaterGuwahati, gives the following answer, which we are concluded into this report below:Question 1: “Mr. Rajib Saikia, one of the successful Entrepreneur of entire Guwahati”. Sir, how you feel?Answer: Not exactly a successful entrepreneur but ya from my business undertakings, I have achieve something to fulfill my dreams. Something achieves but need some more to achieve.Question 2: When did you get the idea to do business in this particular field?Answer: From my child hood I had a dream to become a successful business man. My Dada (Brother) used to do small business in our native place, do not know why and how I involved too into my brother‘s business. Then after I used to think about my own business firm. That‘s how I get an idea to start my own business.Question 3: Initial stage of your life?Answer: I am belonging to a middle class family, where parents used to force to get a good education, so that I can able to get a good job and support my family financially.Question 4: How is your educational journey?Answer: After completing my HSLC, I took admission to the Commerce Stream at Sivsagar, where my brother started his business. After my HS examination, I joined my brother business. But later, I have no interest on doing such kind of work, so I took admission into the B.E. Unfortunately; I dropped out the college and went for the B.Com and then MCA from IGNOU.
  10. 10. 8Question 5: Why Computer Sales and Services?Answer: When I completed my PG degree on MCA, then I joined a corporate house. I absorbed myself in the reputed company. But I could not cope up with this environment. So I resign the job and started thinking about my own enterprise. During this time computer are not so popular. But I foresight the future prospects of ample opportunity of doing business related to computer services. Then I did not look back. I came to Guwahati and established my own firm at Ganeshguri, in 1997.Question 6: What processes you used to do business?Answer: I took a dealership of reputed brands of computer desktops, laptops and accessories. More than 15 brands of computers you get from my both enterprises. Recently I had also stated my own construction company, where we used to construct houses, flats both for governments and for general people.Question 7: What is your speciality about your business?Answer: We believe in customer satisfaction. ―Computer World and Service‖ are both ―Product Centered‖ and ―Customer Centered‖. Where we believe in 100% customer satisfaction.Question 8: In 1997, do you have any close competitor against your business?Answer: Computer World and Service is the first Computer retailer in Ganeshguri. A few other are there at other places of Guwahati.Question 9: Whenever new businesses are started, entrepreneurs always have to face some difficulties in the initial stage. Are you facing some difficulties? If so, how you overcome these difficulties?
  11. 11. 9Answer: At initial stage I face a number of problems to start my own firm. First, the problem of money or we can say finance. I took loan from the Govt. Scheme of PMRY. Then the problem arises, where we set up our business. Then we get a plot of land in the heart of Guwahati at Ganeshguri.Question 10: Employment generation is one of the important functions of an Entrepreneurship. Sir, how many employees you have on your enterprise?Answer: 16 number on my Computer World and 25-30 on my construction site.Question 11: Did you get the full support of your family?Answer: Definitely, my parents support me a lot.Question 12: Motivator is the most important factor of an Entrepreneurship. Who motivate or encourage you to do business?Answer: My Dada (Brother) is the foremost. Then after, my parents and now my wife give me a full support to do business.Question 13: We would like to ask what principle you follow into your life and into your business?Answer: I believe in love. My business and their employee are my family members. My principle of my life is full dedication and trust into my employees. I want to give my 100% so that I can achieve the height of success.Question 14: What is your message to the new generation, who want to be an entrepreneur?Answer: I want to say to them, is that, ―Use your knowledge properly, apply skills and give your 100 % then you will get success.‖ Try to think big and give shape to your innovative ideas.
  12. 12. 10 FINDINGS AND CONLUSIONApproaching to the entrepreneur, we asked several questions based upon his life as anentrepreneur as well as about his enterprise and entrepreneurship, as a whole. He replied toour questions very comfortably.From the child hood, when he was reading at class 8 he was having a dream to be a richperson. His brother was a businessman, so from when he started hearing about businesses andentrepreneurship, he also wanted to be an entrepreneur.After completion of HSLC, he did HS in commerce from Sivsagar College. He got no interestin that line so he took admission in poly-technique but unfortunately he could not able tocomplete his study. Then he again went for Bcom and then MCA from ignou.He started taking steps to run his own business from then. But at the initial stage only fewpeople were supporting him. But though he got no encouragement, he was very muchdetermined and dedicated to his work. For starting a business there are so many things to beneeded, eg. Knowledge , Money, Dedication etc. He had sufficient knowledge for startinghis own business and for being an entrepreneur. But he had some short of money, so heneeded financers. He took some money from his brother and sister, but it was not sufficient atthe initial stage of business. That time government was providing loans, he again took a loanunder the scheme of PMRY. He established his own computer sales and service center named―Computer World and Service‖. Now in today‘s context he is one of the most successfulentrepreneur in Guwahati. He expands his business to entire North-east. First he establisheshis business undertaking at Ganeshguri, and then he establishes another undertaking atRukminigaon. He got the taste of profit in both the enterprises and achieves the height ofsuccess. Now he is getting into the business of Construction work and he operate hisconstruction work under the name of ―Green Infra Project‖.From our study of ―“Entrepreneurial Journey of a local Entrepreneur” we got a lot ofexperience regarding the entrepreneur journey. The journey of Mr. Rajib Saikia as anentrepreneur is not easy. He faces lots of difficulties before establishing himself as anentrepreneur. Due to his full dedication and hard work, he achieves this apex point of success.The three basic qualitative instincts- Will, Zeal and Skill we found in Mr. Rajib Saikia,which give him a taste of success.