3. Defination:
Entrepreneurship is a process through which individuals identify
opportunities, allocate resources, and create value.
The behavior of the entrepreneur reflects a kind of person willing to put
his or her career and financial security on the line and take risks.
Person that has potential for bringing positive change is called
entrepreneur. The essence of entrepreneurship lies in creating and
exploiting opportunities .This involves learning, often by trial and error
4. History:
Syed Babar Ali born in 1927, is a Pakistani businessman,
philanthropist and former Finance Minister of Pakistan. He had set
up many businesses and institutes.
As an educationist, Ali led the establishment of the Lahore
University of Management Sciences (LUMS) in 1985 and Ali
Institute of Education.
5. History:
He promoted the cause of the World Wide Fund for Nature where he
served in various capacities, both in Pakistan and internationally,
from 1972 to 1996. He was International President of WWF from
1996 to 1999
He is Chairman of Aventis Pakistan Limited, Bayer Crop Science
Pakistan Limited, Siemens Pakistan Engineering Company Limited,
Coca-Cola Beverages Pakistan Limited and Director of Unilever
Pakistan Limited and Mitchell’s Fruit Farms Limited. He believes in
the joint venture philosophy and most of his businesses are joint
ventures with major multinationals.
6. Syed Babar Ali envisioned and set up the great businesses in
Pakistan including;
Packages Ltd. – one of the most recognized company worldwide
Milkpak Ltd. – now Nestle Milkpak Limited
Tetra Pak Pakistan Limited
International General Insurance Company of Pakistan Limited
Tri-Pack Films Limited
First International Investment Bank and Systems Private Limited
7. Introduction:
He has a great passion for getting knowledge. So after coming to
Pakistan, he started working on the development of a great education
institute in Pakistan, Lahore University of Management Sciences
(LUMS).
LUMS and Ali Institute of Education are the two great ventures of
Babar Ali as he thinks. LUMS is the pioneer institute of business
education in Pakistan. LUMS produces the lots of economists,
mathematicians, entrepreneurs, marketers and accountants each year.
Ali institute of education focuses on training of teachers, so they
able to groom our young generation.
9. Awards and Achievements:
Achievements and Honors:
Served as the Minister of Pakistan – Finance and Economic
Affairs in 1993
An International President of WWF (1996-1999)
Honorary Doctorate Degree of Laws from McGill University,
Canada (1997)
An OBE from Britain (1997)
Receive many awards from the Government of Sweden and the
Netherlands.
