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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www.ndtv.net