Entrepreneurship

1. UNIT – V
ENTREPRENEURSHIP

3. THE INDIA WAY - HISTORY
• The history of entrepreneurship in India starts in the era of Indus
Valley Civilization.
• During the Early Harappa period (about 3200 – 2600 BCE)
• This age is also called as copper age, the Indus Valley Civilization
area showed ceramic similarities with southern Turkmenistan and
northern Iran which suggested considerable mobility and trade.
• Apart from agriculture and hunting, the Indus people supported
themselves by trading goods like exchange of Potteries,
ornaments, exchanges of animals etc…

4. THE INDIA WAY - HISTORY
• Indus valley civilization: organized enterprise at a time when the world just
belonged to clothe itself.
• The early years (1000 B.C-500 B.C): Indian trader introduced re-exporting
bought silk from Chinese and sold to central Asia. Bought horses from west
Asians and sold to the Chinese.
• The Maurya Era: In modern times the Maurya Empire is remembered as one of
the golden ages of Indian history, a time when the country was united and
independent.
• Vast territory, better trade, Widespread use of metallic money, Missions to Sri
Lanka and Southeast Asia increase trade.
• The people were divided into seven endogamous groups - philosophers,
peasants, herdsmen, traders, soldiers, government officials, and councilors.

5. THE INDIA WAY - HISTORY
• The Gupta Era: (400 A.D – 600 A.D) : Traders from associations to
protect interests Codification of transnational business.
• The Middle ages -(700 A.D-1300 A.D): Paper, Printing invented.
Dams, roads ease trade, south – East Asia & Indoasiea.
• The Mughal age (1500 A.D-1600 A.D): Dominated world
commerce, large quantities of gold and silver flow into the country.
• The Mughal Era II (1600 A.D-1700 A.D): British arrive in this era.
The person named Surat merchant virji Vora among first
entrepreneurs.

6. THE INDIA WAY - HISTORY
• The colonial era I (1700 A.D -1850 A.D): Europe was then the
hotbed of technological innovation.
• The traders brought with them plenty of new ways of doing
business. Seizing the opportunities that emerged, many Indians
became entrepreneurs. •
• Dwarkanath Tagore, who formed India‘s first Joint Venture with a
foreigner, Carr Tagore Nanabhai Davar, who put up the country
first textile mill in 1854.But could not able to run that.

7. THE INDIA WAY - HISTORY
• The colonial ERA II (1850 A.D -1900A.D): Railways set up (1853).
cowasjee Nanabhai Davar first cotton mill in Bombay. Sir J.N Tata
founded Jamshedpur steelworks. Foundations of jute mills,
pharmaceutical industry were laid.
• Major players of the era were Ghanshyam das, Birla, Goenkas, khaitans,
jamsetjee jejeebhoy, Mafaltal Gagalbhai, Laxmanrao kirlsokar, walchand
Hirachand,Nusserwanjee wadia, pirojsha Godrej, K.Gopalakrishnan,
L.K.singhania, Gujar- lal modi and Lala Shriram.
• The colonial era III (1900 A.D-1947A.D): New crop arises in this
Period. Change makers like JRD Tata, MS Oberai, jamnalal Bajaj lead
the way for Indian entrepreneurs.

8. THE INDIA WAY - HISTORY
• After Independence: scale industrialization entrepreneurs like
Dirubai Ambani emerge.
• Globalisation arrives, and with it the premjis, the Narayana
murthys, the Rajesh Jains etc.,Over the last 75 years, India has seen
the entrepreneur evolves in different role.
• The modern entrepreneurs are wealth creators, communicators,
change agents, entertainers etc.

9. THE INDIA WAY - HISTORY
• Entrepreneurship - Present Era: C.K.Prahlad, - Fortune at the
bottom of the pyramid states that the need for innovation in
entrepreneurship.
• Nation urges Entrepreneurs to explore domestic opportunities.
• To succeed, one need to continuous innovation & to have
continuous innovation, one need to tap thinking of every one in
enterprise.
• Innovation plays a key factor in an entrepreneurial quality.

10. GLOBAL INDIAN ENTREPRENEURS

11. INTRODUCTION
• International business is becoming increasingly important to more and more
entrepreneurs and to their country’s economy.
• Simply stated global entrepreneurship is the process of an entrepreneur
conducting business activities across national boundaries. It may consist of
exporting, opening a sales office in another country.
• The activities necessary for ascertaining and satisfying the needs and wants of
target consumers often take place in more than one country.
• When an entrepreneur executes his or her business in more than one country
global entrepreneurship occurs.

12. IMPORTANCE OF GLOBAL BUSINESS
• International business has become increasingly important to firms of all sizes
particularly today when every firm is competing in a hyper competitive global
economy.
• A successful entrepreneur is one who fully understands how international business,
differs from purely domestic business and is able to respond accordingly.
An Indian entrepreneur entering the international market should address the
following questions:
Is managing international business different from managing domestic business?
What are the strategic issues to be resolved in international business management?
What are the options available for engaging the international business?
What are the factors influencing the decision to enter into an international market?

13. AN INDIAN ENTREPRENEUR GOING GLOBAL
HAS MANY ADVANTAGES:
 Large markets beyond home country borders
 Greater motivation in new opportunities
 Improvements in technologies, quality and operations
 Extending life of product cycle
 Challenges in doing business in a competitive environment
 Earning foreign exchange for the organization and
the home country
 Reputation enhancement
 Better training to employees and wider vision
 More investments, diversified products and new products

14. ECONOMICS OF GLOBAL ENTREPRENEURS
• When entrepreneurs design a domestic business strategy’s single country at a specified
level of economic development is the focus of the efforts.
• The entire country is almost always organized under a single economic system and has
the same currency.
Creating a business strategy for a multi country area means dealing with differences in
the following areas:
 Level of economic development
 Currency valuations
 Government regulations
 Marketing and distribution system
These differences manifest themselves in each aspect of the entrepreneur's international
business plan and methods of doing business.

15. GLOBAL TRADE - DRIVING AND
RESTRAINING FORCES
DRIVING FORCES
• Technology Culture
• Market forces
• Cost Free markets
• Economic integration
• Peace Management
• Vision
• Strategic intent
• Global strategy and action
RESTRAINING FORCES
• Culture Market differences
• Costs
• National controls
• Nationalism
• War
• Management myopia
• Organization history
• Domestic focus

16. MODERN
ENTREPRENEURS

17. INTRODUCTION
 Modern Entrepreneurship means working unconditionally and bringing
changes to the society and the economy of the country for the good
without any limits.
 Modern entrepreneurship is doing the old things with a new and
innovative way with more efficiency and effectiveness and making life
easy for the people in the society and surroundings.
 It is surprising power that obliged our progress with various items,
products, services, development, technology and creatives thoughts.
 Modern entrepreneurship is an essential quality of the business
association and the progress towards future business.

18. CHARACTERISTICS OF A MODERN
ENTREPRENEUR
• Independence and independence of business entities - each employer is free to
decide on a particular problem.
• Economic interests - an opportunity to get big profit.
• Economic risk - entrepreneurial activity implies the existence of risk and
possible losses
• Liability - implies the assumption of duties within the activity.
• Entrepreneurship - manifests itself in the ability to find non-standard, creative
solutions, to bring the profitable work to the end and the ability to take risks;

19. CHARACTERISTICS OF A MODERN
ENTREPRENEUR
• Power - Ability to show the strong and bright features characteristic of the process
of performance;
• Ingenuity - an opportunity to use both positive and negative development trends
for your own benefit; the ability to find the new as a significant difference in each
area;
• Business activity - manifested in hard work and ability to rationalize
entrepreneurial activity;
• Savings (economy) - the ability to find a rational distribution and saving of
available resources; •
• Responsibility - manifested in the honest word and correctness in dealing with
partners, workers and society.

20. DIFFERENCE BETWEEN TRADITIONAL
ENTREPRENEUR AND MODERN ENTREPRENEUR