HR:

An employee has been arriving 30 mins late to work every day. Why do you think this is? What would you do? (Supermarket).

A certain product is being sold at the same price, same quantity, etc. (i.e. same product) as the competitors, but the product at our stores is not selling well as compared to the competitors. Why do you think this is? What would you do about it? (Supermarket)

Tell me about yourself? / Describe yourself.

Why did you study MBA?

Why do you want to work in sales/HR/Finance?

Where do you want to be in 5-10 years?

What are your main skills?

How would you rate your knowledge of finance?

What is your gratest achievement?

What is your passion?

How Do You Motivate Employees?

Entrepreneur & Intrapreneur:

An entrepreneur is someone who, through his or her skills and passion, creates a business and is willing to take full accountability for its success or failure. An intrapreneur, on the other hand, is someone who utilizes his or her skill, passion and innovation to manage or create something useful for someone else’s business... with entrepreneurial zest.

Who is first generation entrepreneur?

The person who do not posses any entrepreneurial background but he start a industry by his own innovative skills.

Social Entrepreneur:

A social entrepreneur is someone who recognizes a social problem and uses entrepreneurial principles to organize, create, and manage a venture to make social change. Whereas a business entrepreneur typically measures performance in profit and return, a social entrepreneur assesses success in terms of the impact s/he has on society.” 

Social Entrepreneur: Aravind Eye Hospital: Dr.Govindappa Venkataswamy (Dr. V)

AMUL (Anand Milk Union Limited) Social Entrepreneur: Dr. Verghese Kurien

Type of Organization: Co-operative

The Amul Pattern has established itself as a uniquely appropriate model for rural development. Amul has spurred the White Revolution of India, which has made India the largest producer of milk and milk products in the world.

Grameen BankSocial Entrepreneur: Muhammad Yunus

Professor Muhammad Yunus, the founder of “Grameen Bank” and its Managing Director, reasoned that if financial resources can be made available to the poor people on terms and conditions that are appropriate and reasonable, “these millions of small people with their millions of small pursuits can add up to create the biggest development wonder.”

Edupreneurs can be defined as educational entrepreneurs who plan, open and successfully operate educational services.

Women Entrepreneur It may be defined as a woman or group of women who initiate, organise and run a business enterprise.

Problems of women entrepreneurs:

Problems of finance – Scarcity raw material – stiff competition

Limited mobility – family ties – lack of education – male dominated society – low risk bearing ability.

DISTRICT INDUSTRIES CENTER (DICs

SHAHNAZ HUSAIN: The beauty chain of Shahnaz Hussain is known for a wide range of treatments and herbal cosmetics offering stunning results.

chairman and executive officer of PepsiCo,INDRA KRISHNAMURTHY NOOYI Indra Krishnamurthy Nooyi.

Chanda Kochar Current position: MD CHANDA KOCHAR & CEO – ICICI Bank Chanda Kochar, 51, is currently the MD & CEO of india’s largest private bank ICICI Bank.

Naina Lal Kidwai:

Naina Lal Kidwai,55,  is presently the Group General Manager and Country Head of HSBC India.

Indian government conferred  Padma Shri award on Naina for her contributions in the field of Trade and Industry.

Problem specific to women entrepreneur Male dominated society Low risk taking ability Lack of business information Lack of education Family problems.

Kiran Mazumdar Shaw

Current position: CMD, Biocon

Kiran,59, is the founder Chairman and Managing Director (CMD) of Biocon Limited.

Born in Bangalore, Shaw completed her Bachelors in Zoology from Mount Carmel College, Bangalore University. She later did her post-graduation in Malting and Brewing from Ballarat College, Melbourne University. She worked as a trainee brewer in Carlton and United Breweries, Melbourne and as a trainee maltster at Barrett Brothers and Burston, Australia. She started Biocon in 1978 and spearheaded its evolution from an industrial enzymes manufacturing company to a fully integrated bio-pharmaceutical company. Today Biocon under Shaw’s leadership has established itself as a leading player in biomedicine research with a focus on diabetes and oncology.

Kiran is also a member of the board of governors of the prestigious Indian School of Business and Indian Institute of Technology Hyderabad. Kiran received the prestigious Padma Shri (1989) and the Padma Bhushan (2005) from the government of India.

Chanda-Kochar

Current position: MD & CEO – ICICI Bank

Chanda Kochar, 51, is currently the MD & CEO of india’s largest private bank ICICI Bank.

Rajasthan born chanda got Masters Degree in Management Studies from Jamnalal Bajaj Institute of Management Studies, Mumbai. She received the Wockhardt Gold Medal for Excellence in Management Studies as well as the J. N. Bose Gold Medal in Cost Accountancy.

Chanda Kochhar  is married to Deepak Kochhar, a wind energy entrepreneur and her Business schoolmate.

 Indu-Jain

Designation – Chairperson (former), Times Group

Indu Jain,76, used to be the chairperson of India’s largest and most powerful media house – The Times Group.

A strong votary of women’s rights and women entrepreneurship, Indu contributed immensely to the growth of Times group. Now, her two sons Samir and Vineet are running the company.

Indu Jain is also founder President of the Ladies wing of FICCI (FLO).

Indu is also the  Chairperson of the Bharatiya Jnanpith Trust, which awards India's most prestigious and highest literary award, the Jnanpith award.

She addressed the United Nations in 2000 at the Millennium World Peace Summit of Religious

and Spiritual Leaders, a speech in which she stressed the need for oneness among faiths and went on to chair a special session of the conference.

Neelam Dhawan

Current position: MD, HP-India

A woman with ‘never-say-die’ spirit, Neelam Dhawan is presently the Managing Director of Hewlett-Packard (HP), India.

Neelam is an iconic figure in Indian IT industry . She is an inspiration for women working in IT sector. She dared to enter the IT world in early 1980s when there were just a handful of women in this industry.

At the start of her career she yearned to be a part of major players in the FMCG space such as Asian Paints and Hindustan Lever.

Unfortunately, these organizations did not want a woman to be a part of their marketing and sales efforts and hence she was rejected at the time.

But a determined Neelam refused to give up and fought back with laurels galore.

Before joining HP, India as Managing Director (MD) , Neelam was Managing Director (MD) of Microsoft, India.

She had successful and rewarding stints with other leading players like IBM and HCL.

Mallika Srinivasan

Current position: Director, TAFE (Tractor and Farm Equipment)

Mallika has an MBA from Wharton School of Business, Pennsylvania.

She joined TAFE in 1986 and has since been responsible for accelerating turnover from 85 crores to 2900 crores within a span of two decades.

Her innovative business ideas and excellent leadership qualities have won her laurels from every quarter.

She was awarded ‘Businesswoman of the year 2006’ award by ET.

Shahnaz Hussain

Current position: CEO, Shahnaz Herbals Inc

Shahnaz Hussain is the biggest name in herbal cosmetics industry in India. She has introduced a

number of trend setting herbal products .

Currently, the Shahnaz Husain Group has over 400 franchise clinics across the world covering over 138 countries.

Her pioneering work got recognition from Govt of India when she was conferred with prestigious Padma Shri award in 2006.

Jyoti nayak

Current Position: President Shri Mahila Griha Udyog Lijjat Papad

Jyoti Naik, is currently the President of Shri Mahila Griha Udyog Lijjat Papad, an Indian women's cooperative based in Mumbai.

The Khadi and Village Industries Commission of India has conferred the Best Village Industry award on Lijjat Papad from the period 1998-99 to 2000-01.

Jyoti Naik was conferred Businesswomen of the Year (2001-02) for corporate excellence by the Economic Times.

4 Indian Women in ‘World’s 100 Most Powerful Women’ List By Forbes 2015.

Arundhati Bhattacharya – Rank in List 30She acquired Master’s and Bachelor’s of Arts degree from Jadavpur University. She is pronounced for playing a critical role to create blueprints for the first all-women bank. In 2014, she was named the 36th most powerful woman in the world by Forbes and ranked among the FP Top 100 Global Thinkers by Foreign Policy Magazine. She ranks at no 30 in the Forbes list of 100 most powerful women in the world-2015.

Chanda Kochhar – Rank in List 35She holds Master’s Degree in Management Studies from Jamnalal Bajaj Institute of Management Studies, Mumbai. She is honoured with Padma Bhushan Award and made it to Time magazine’s list of the 100 Most Influential People in the World 2015 for her services to banking sector. She ranks at no 35 in the Forbes list of 100 most powerful women in the world-2015.

Kiran Mazumdar-Shaw – Rank in List 85Kiran Mazumdar-Shaw (born 23 March 1953) is an Indian entrepreneur. She is the chairman and managing director of Biocon Limited, a biotechnology company based in Bangalore (Bengaluru), India and the current chairperson of IIM-Bangalore. In 2014, she was awarded the Othmer Gold Medal, for outstanding contributions to the progress of science and chemistry. She is on the Financial Times’ top 50 women in business list. As of 2014, she is listed as the 92nd most powerful woman in the world by Forbes.She ranks at no 85 in the Forbes list of 100 most powerful women in the world-2015.

Shobhana Bhartia – Rank in List 93Shobhana Bhartia (born 1957) is the Chairperson and Editorial Director of the Hindustan Times Group, one of India’s newspaper and media houses, which she inherited from her father. She has also recently taken charge as the Pro Chancellor of Birla Institute of Technology and Science, Pilani (founded by her grandfather) and is the current chairperson of Endeavor India. Closely associated with the Congress party, Shobhana served as a nominated member of the Rajya Sabha, the upper chamber of the Indian parliament from 2006 to 2012. Her name is sometimes written Shobhana Bharatiya or Bhartiya, but the preferred spelling is Bhartia. She ranks at no 93 in the Forbes list of 100 most powerful women in the world-2015.

Innovating entrepreneur: is one who introduces new goods, new method of production, discovers new market and recognise the enterprise.

Imitative entrepreneurs: is one who ready to adopt successful innovations inaugurated by innovating entrepreneurs.

Drone entrepreneurs: They are refused to adopt opportunities to make changes in production even at the cost of severely reduced return.

Fabian Entrepreneurs: they are characterized by very great caution and skepticism in experimenting any change in their enterprise.

State any differences between an entrepreneur and a manager:

Motive – status – risk bearing – rewards – innovation .

State the two basic elements of entrepreneurship:

Innovation: doing something new

Risk bearing:

Rural entrepreneurship:

Estabilishing industrial units in the rural areas refers to rural entrepreneurship. Rural area – a village or town with a population of 20,000 and below.

Retailing:

Retailing is a set of activities or steps used to sell a product or service to consumers for their personal or family use.

Functions of retailing:

Sorting: retailers pickup an assortment of goods from different sources, buying them large quantity and sell them to consumers in small quantities.

Arranging assortment: It includes both depth and breadth of products carried. Retailers have to select the combination of assortments from various categories.

Breaking Bulk: It means physical repackaging of the products by retailers in small quantities.

Holding stock: to ensure the regular availability of their offerings, retailers maintain appropriate levels of inventory.

Types of store:

Chain Retailer:

Two or more outlets under a common ownership is known as retail chain. Similar merchandise offered to the customer.

Leased Dept:

It is also termed as shop in shops. When a section of a dept in a retail store is leased / rented to an outside party, it is termed as leased depts.

Convenience stores:

These are relatively small store located near residential areas they are open for Loris hours and offer a united line of convenience products like bread, milk etc.

Petrol pumps like HP speed mart & IN & OUT can be termed as convenience stores.

Super market:

There are large, low cost, low margin, high welcome, self service operations designed to meet the needs for “food, forgeries, & non food items.” Examples: food world, food bazaar

Hyper-market:

It is a very large retail unit offering merchandise at low prices. Hyper markets having a selling area of over 50000 59.ft. It is characterized by larger store size low operating cost & low prices, a range of

merchandise. Hyper markets own spacious.

Specialty store:

Specialty store stress on one or a limited no of complementary product categories & extended a high level service to their customers.

Such specialized retail operations provide expertise economics of scale, bargain & image to the particular store.

Ex: Durables (viveks) watches (titan)

Vending Machine Retailing:

It is a form of non-store retailing in which products or services are placed in a machine and dispersed to customers when they deposit cash or use plastic money.

Vending machine offers customers greater convenience 24hrs a day.

It was introduced in England in 1880 for dispensing post cards. 1940s to 1950 they dispense coke and pepsi.

DIFFERENCE BETWEEN SERVICES & MERCHANDISE RETAILERS

Intangibility:

Consumers can not – see, touch Service are “Performances or actors” rather than objects.

EX: Health care Services.

Simultaneous production &consumption:

Products made in factory- stored – sold and used by consumers’ service provider on the other hand, create & deliver the services as the consumer consuming it.

EX: Restaurant – the meal is prepared & consumed almost at the same time.

Perishabilites:

Services- can’t be saved, store or resold

Airlines-takes off with an empty seat, the sale is lost for ever.

In consistencies:

Merchandise- Often produced by machine with very tight quality control. So all the products qualities assured that identical.

Services- are performances produced by people (employees have different knowledge & skills)

Waiter in a Hotel can be in a bad mood & make your dining experience a disaster.

Types of Retail Locations

Free Standing:

Located along major “traffic artery, without any competiting retailer”. Due to this “rents are low & amebic parking “are available. “Advertising cost” is so high-retailers needs to drive the customers to visit location.

Ex: Convenience store, hotels & fast food restaurants on highways.

Part of a business district:

A business district “ is the place of commerce in a city, which developed historically as the centre of trade & commerce in the city and most of the time, it will have no pre-set format”.

A “central business district (CBD)” characterized by “peak land rates & intense developments”

It has good accessibility in terms of transport from all the parts of city.

Ex: In “Mumbai- Nariman point”

Being a part of CBD retailers faces situations like rents are so high & facilities for parking’s” for the customers is cumbersome.

The “secondary business district (SRD)” is one which has evolved over a period of time with the spread of population with in the city.

It is characterized by a food mix of retailer, the stores are “smaller than in the CBD & public transportation is adequate”.

Part of a Shopping Center:

International center of shopping center defining shopping center as “a group of retail & offer commercial establishment that is planned,developed,owned & managed as a single property”.

FACTORS AFFECTING STORE LOCATION

Capital available Cost & available of land in the desired location. Safety & security considerations. Type of retailing activity-whether convenience store, specialized store, dept store etc. Nature of merchandise offered at the store. Nature of potential customers. Availability of parking space. Traffic flow & accessibility Existence of competitor’s owners. Potential for future expansion. Govt regulations, texes & other legal issues. Expected profitability

Retail pricing:

Strategy to charge a high price SKIMMING  Gradually reduce it if necessary Gradually.

Penetration: Aim to capture a large market share by charging low price. Low prices stimulate purchases.

Value Pricing:

Value Pricing Price set in accordance with customer perceptions about the value of the product/service .

Loss Leader:

Loss Leader Goods/services deliberately sold below cost to encourage sales elsewhere. in the hope that people will be attracted to the store and buy other things Purchases of other items more than covers ‘loss’ on item sold.

Psychological Pricing:

Psychological Pricing Used to play on consumer perceptions Classic example – Rs 3999.99 instead of Rs 4000!

EVERY DAY LOW PRICING (EDLP)

Strategy adopted by retailers who continually price their products lower than the other retailers in the area.

List of retailers:

AV Birla Group - More

Reliance - Reliance Fresh, Reliance Trends, Reliance Foot Print, Reliance Digital

Pantaloon Retail - Bigbazar, Foodbazar

K Raheja Group - Shoppers stop, Crossword,

Tata Group - Westside, Landmark