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SANSKRITHI INTERNATIONAL CONFERENCEON MANAGEMENT CHALLENGES
on 26th April 2014
TOPIC - SUCCESS MANTRA OF FEW INDIAN ENTREPRENEURS
Ms. B. Syamala Devi
Research ScholarK L University
Dr. D. Srinivasa Rao
Associate Professor
K L University
Introduction:
Richard Cantillion
Adam smith, Jean Baptiste Say, Alfred Marshall and
Frank Knight
Nain Ahmed and Richard Seymour
Audretsch and Keilbach (2003)
Francois (2013)
The main objective of the study is to find the
background history of Indian entrepreneurs and by that
framing the success factors from the successful Indian
entrepreneurs. By this the noted factors will be referred
as common success factors for Indian entrepreneurs.
Objectives of the study:
Harrison & Mason, 2007; Peter, 2001; Okpukpara, 2009- age
and education, type of employment, type of industry, type of
company, financial background and work experience
Kuzilwa (2005), Shastri & Sinha- education, experience, and
energy exist, but the environmental constraints such as lack
of credit, and societal discriminations especially in
developing countries, may hinder the entrepreneur.
Wit and Van (1989) - Attitude towards risk-taking is
entrepreneur’s ability and willingness to engage in risky
activity
Factors affecting entrepreneurship:
Crisp & Turner, 2007& Ajzen, 1991- Studies have found that
attitude and behavioural intention are positively related
Francois (2013) says that based on previous studies cultural
factors are more dominant for Indian entrepreneurs
Shastri & Sinha, 2010; Vob & Muller, 2009 Such
environmental constraints which are sometimes volatile
include the economic, financial, legal, political and socio-
cultural factors.
Gender-related discriminations, especially in developing
countries, occasioned by socio-cultural factors also pose
hindrance to women entrepreneurial activity
Kanishka Empire in the 1st century started promoting Indian
entrepreneurs and traders.
India established its relationship with Roman Empire in 1600AD.
For an entire generation from the 1950s until the 1980s, India
followed socialist-inspired policies.
Since 1991, the nation has moved towards a market-based system
and there is a lot of scope for development in each and every
sector.
Entrepreneurship was given an important role for the economic
development and for generating the employment rate.
Evolution of Indian entrepreneurs:
Before Post liberalization in the 16th century industrial risk was
originated and its origin takes place from caste, community and family
demarcation is more prevalent.
During the post independence period, 1947-1991, the public sector
commanded the economy and contributed to the rapid industrialization.
After this period the private sector came into force and started earning
their business.
India started industrial regulation in the early 1970s.
An indiatimes.com article quoted an expert on entrepreneurship in
India: “Entrepreneurship in India was restricted to the privileged few
that were traditionally rich. Entrepreneurship was only transferred to
the second generation [of the same family] (Venkatraman, 2010).
Indian entrepreneurship
Research Design considered here is exploratory
type using case study approach. The information is
gathered using Interviews from successful
entrepreneurs. The Interviews are taken from Azim
premji, Kunal Bahl, Ekta Kapoor, Kiran Muzumdar
Shaw.
Research methodology
Azim Premji has led Wipro since 1966. He has received
many honours and accolades throughout his career:
Top 30 entrepreneurs in world history in July 2007; in April
2004
Time listed him as one among the 100 most influential
people in the world
Fortune listed him as one of the 25 most powerful business
leaders outside the U.S. in August 2003
Forbes listed him as one of 10 people globally who have the
most “power to effect change” in March 2003
Azim premji:
Interview from NDTV on 2011
37 convocation of IIT Delhi on August 12, 2006 that
success from failure, willing to learn, always a better
way, respond not react, play to win, give back the
society.
Technological excellence, Innovation solutions,
operational excellence, A Global footprint with
emerging market knowledge, A company culture of
linking values to company performance.
Kunal is the co-founder and CEO of Jasper, India’s
largest couponing company which runs the leading
group buying portal in India, SnapDeal.com.
In 2008, Jasper is a 300 member strong organization
with operations in 30 cities and 5 countries
Interview from NDTV in 2013
Interview from Dana Stanley 2012
From the interview it was revealed that market
opportunity, education, innovation, technology, trust
among me and the customers are success factors.
Kunal bahl:
Kiran Mazumdar Shaw is an Indian Entrepreneur.
She is the chairman and managing director of Biocon
Limited.
Currently she was chairperson of IIM-Bangalore.
She is on the Forbes list of the world’s 100 most
powerful women.
Financial times as top 50 women in business list.
She liked the innovation model.
Kiran muzamdar shaw:
She believes motivations as one success factor as by
Motivating Oneself and by motivating others.
Indian school of management by creating Biocon Cell
for Innovation Management as part of centre for
leadership innovation and change.
With her leadership traits, Biocon is building cutting-
edge capabilities
From the interview it was clear that leadership,
innovation, creativity, R&D, technology, trust and
motivation are the success factors.
Ekta Kapoor serves as a Creative Director and Director of
Balaji Telefilms Ltd.
Ms. Kapoor commenced her career as a producer and
creative director at the age of 19.
She is actively involved in concept building, script design
and creative conversion.
Ms. Kapoor was selected as one of Asia‘s malaji Telefilms
Limited is one of the most successful media companies and
the largest fiction based television content provider in India.
Ekta kapoor:
Balaji Telefilms Limited has to its credit many successful
serial most powerful communicators by the Asia Week
magazine.
Ekta with his innovative and creative thinking made the
television viewers to be completely attached to the daily
serials.
The market study of entertainment and media helped her to
know the customers point.
Ekta always profound to take risk when her father said to
produce the software she take the risk as an opportunity and
started her career now she was a successful entrepreneur.
Based on the above discussions that the success
factors depends mostly on the following things in
common as Technology, Innovation, Creativity, Market
opportunity, self- confidence, trust and uniqueness.
These success factors reveals that entrepreneurs should
have some common traits and those make them to be
successful in the world.
Common factors:
The present study is
confined to few successful
Indian Entrepreneurs and the
generalizations of the findings
requires larger sample of
Entrepreneurs. The study was
confined to limited time
duration.
Limitations of the study:
Entrepreneurship development has attained
importance past years. The present study had a future
scope of taking all the successful entrepreneurs into
consideration and listing the success factors of Indian
Entrepreneurs.
Scope of future study:
The success factors for the Indian entrepreneurs are
different for one to one. Based on the field of industry
their core factors differs and some common factors like
technology, innovation, creativity, trust, market
opportunity, uniqueness and self-confidence.
conclusion:
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Same, Different, or Both? Entrepreneurship Theory and Practice: 1-22.
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Venturing, 12: 9-30.
Cambell, A, J Birkinshaw, A Morrison, & B van Basten. 2003. The Future of Corporate
Venturing. Sloan Management Review, 45(1): 30-39.
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Internationalization Theory. Journal of International Business Studies, 35: 124-41.
references:
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Credit, Interest, and the Business Cycle. Cambridge, MA.: Harvard University Press.
Shane, S. 2003. A General Theory of Entrepreneurship: The Individual-Opportunity Nexus.
Cheltenham, UK: Edward Elgar.
Shane, S & S Venkataraman. 2000. The Promise of Entrepreneurship as a Field of Research. The
Academy of Management Review, 25(1): 217-26.
von Mises, L. 1949/1996. Human Action: A Treatise on Economics. Fourth Revised Edition ed.
San Francisco: Fox & Wilkes.
Waldringer, R, H Aldrich, & R Ward. 1990. Ethnic Entrepreneurs: Sage Publications.
Weber, M. 1947. The Theory of Social and Economic Organization. New York, USA: Oxford
University Press.
Websites: www.wikipedia.org
www.nimsme.org
www.hrb.org
www.ibscdc.org
www.icfai.org
www.ndtv.net