EnTREPRENEURSHIP-Emerging Opportunities & Challenges

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    ENTREPRENEURSHIPENTREPRENEURSHIP

    Emerging OpportunitiesEme

    rging Opportunities& Challenges& Challe

    nges

    DR. M. A. ZAHIRCHAIRMAN,

    SYNETIC BUSINESS SCHOOL,LUDHIANA

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    ENTREPRENEURSHIPENTREPRENEURSHIP

    ENTREPRENEURSHIP AND SELFENTREPRENEURSHIP AND SELFEMPLOYMENTEMPLOYMENT

    VERY IMPORTANT : INDIAS ADVANTAGEVERY IMPORTANT : INDIAS ADVANTAGE

    Industrialization, Economic DevelopmentIndustrialization, Economic Developmentand Entrepreneurship go togetherand Entrepreneurship go together

    TO BE DISCUSSED INTO BE DISCUSSED IN RIGHT PERSPECTIVERIGHT PERSPECTIVE

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    INDIAS SOCIO-ECONOMICINDIAS SOCIO-ECONOMIC

    SCENARIO: 4 ASPECTSSCENARIO: 4 ASPECTS GROWTH:GROWTH: 7-9% (5.5% on an average for next7-9% (5.5% on an average for next

    4 decades..)4 decades..)

    FULL EMPLOYMENT:FULL EMPLOYMENT: Quite a large numberQuite a large numberthrough SELF-EMPLOYMENT andthrough SELF-EMPLOYMENT andEntrepreneurship throughout the value chain:Entrepreneurship throughout the value chain:Suppliers, Logistics, Distribution, Trading,Suppliers, Logistics, Distribution, Trading,ServicesServices

    RISING MIDDLE CLASS: With disposable incomeRISING MIDDLE CLASS: With disposable income New Needs, New demands, New Markets.. New Needs, New demands, New Markets..

    DEMOGRAPHIC FEATURES (POPULATION):DEMOGRAPHIC FEATURES (POPULATION):

    70% 35 years or less. Required : Education &70% 35 years or less. Required : Education &Skill Develo mentsSkill Develo ments

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    ENTREPRENEURSHIP &ENTREPRENEURSHIP &

    BUSINESS DEVELOPMENTBUSINESS DEVELOPMENT

    THERE ARE 5 ASPECTS:THERE ARE 5 ASPECTS: RISK:RISK:There is no such thing as risk lessThere is no such thing as risk less

    strategy or business.strategy or business.RISK RETURNSAchievementRISK RETURNSAchievementMotivationMotivation

    CAPITAL :CAPITAL :FINANCE SIZE OFFINANCE SIZE OFOPERATIONS.OPERATIONS.

    TECHNOLOGY :TECHNOLOGY :LatestLatest OROR AppropriateAppropriate

    SMEs & ENTREPRENEURSHIP GOTOGETHER

    Conti

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    ENTREPRENEURSHIP &ENTREPRENEURSHIP &

    BUSINESS DEVELOPMENT:BUSINESS DEVELOPMENT:

    4.4. MANAGEMENT:MANAGEMENT: Planning & ControlPlanning & Control CostCost

    Product DevelopmentProduct Development

    MarketingMarketing Working Capital Management.Working Capital Management.

    Conti

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    ENTREPRENEURSHIP & BUSINESS DEVELOPMENTENTREPRENEURSHIP & BUSINESS DEVELOPMENT

    Entrepreneurship is essentially a creativeactivity .Joseph A.Schumpeter

    Something New & Different [ResearchSomething New & Different [Research

    & Development]& Development]

    Recombination; New LinkagesRecombination; New Linkages

    Examples: Condensed Milk, Neva Quilt,Examples: Condensed Milk, Neva Quilt,

    Nirma, Noodles (Maggi), SachetNirma, Noodles (Maggi), Sachet

    (Affordability)(Affordability)

    5.5. INNOVATION : An IdeaINNOVATION : An IdeaEconomyEconomy

    Conti

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    GROWTH VECTORGROWTH VECTOR

    DIRECTION OF GROWTHDIRECTION OF GROWTH

    ::1.1.Market PenetrationMarket Penetration

    2.2.Product DevelopmentProduct Development3.3.Market DevelopmentMarket Development

    4.4.

    DiversificationDiversificationConcentric Conglomerate

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    BLUE OCEAN STRATEGYBLUE OCEAN STRATEGY

    [W. ChanKim & Renee Mauborgne][W. ChanKim & Renee Mauborgne]

    New Emerging Segments/ NeedsNew Emerging Segments/ Needs Niche Market :Niche Market : High End/ Low EndHigh End/ Low End

    Bottom of the Pyramid Bottom of the Pyramid

    OpportunitiesOpportunities

    Outsourcing: Leveraging BrandOutsourcing: Leveraging Brand

    EquityEquity

    OEM AncilliarisationOEM Ancilliarisation

    .Creating Uncontested Market Space and Makingthe Competition Irrelevant: - Eg. NANO CAR

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    ENTREPRENEURSHIPENTREPRENEURSHIP

    &&FAMILY BUSINESSFAMILY BUSINESS

    Family ValuesFamily Values

    ProfessionalisationProfessionalisation

    Succession PlanningSuccession Planning

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