3. DEFINATION OF ENTREPRENEUR:
Someone who exercises initiative by organizing a venture
to take benefit of an opportunity and, as the decision
maker, decides what, how, and how much of a good or
service will be produced.
OR
The entrepreneur is usually a sole proprietor, a partner, or
the one who owns the majority of shares in an
incorporated venture.
4. Characters of Entrepreneur:
Passion and motivation
Risk taking
Self-belief, Hard work & Disciplined Dedication
Adaptability & Flexibility
Understand Your Offering – And Its Market
Money Management
Planning (But not Over-planning)
Being Prepared to Take the Exit
Entrepreneurs Doubt Themselves – But Not Too Much
5. ROLE
OF
ENTREPRENEUR
IN
SOCIETY:
Entrepreneurs occupy a central position in a market economy.
For it's the entrepreneurs who serve as the spark plug in the
economy's engine, activating and stimulating all economic
activity. The economic success of nations worldwide is the
result of encouraging and rewarding the entrepreneurial
instinct.
It's entrepreneurial energy, creativity and motivation that
trigger the production and sale of new products and services. It
is the entrepreneur who undertakes the risk of the enterprise in
search of profit and who seeks opportunities to profit by
satisfying as yet unsatisfied needs.
6. More than any other member of our society,
entrepreneurs are unique because they're capable of
bringing together the money, raw materials, manufacturing
facilities, skilled labor and land or buildings required to
produce a product or service. And they're capable of
arranging the marketing, sales and distribution of that
product or service.
Entrepreneurs are optimistic and future oriented; they
believe that success is possible and are willing to risk their
resources in the pursuit of profit.
They're fast moving, willing to try many different
strategies to achieve their goals of profits. And they're
flexible, willing to change quickly when they get new
information.
8. INDIA’S TOP 10 ENTREPRENEUR:
1. Dhirubhai Ambani (1932-2002):
He started out humbly by selling traditional snacks to religious pilgrims. His business soon
grew, and he expanded and diversified, eventually building India's largest private
company, Reliance Industries. Reliance has interests in telecommunications, power
generation, information technology, consumer goods and logistics. Ambani's sons now running
Reliance.
2. Jehangir Ratanji Dadabhoy Tata, or JRD Tata (1904-1933):
He was born in Paris to Indian and French parents. He was trained as an aviator in Europe
and later became India's first commercial airline pilot. Working for the family business, TATA
group, he set out on his own and built TATA airlines, which ultimately became the modern Air
India. By the time of his death, TATA owned nearly 100 different businesses across many
industries.
9. ▸3. Nagavara Ramarao Narayana Murthy,(68):
Co-founded Indian IT giant Infosys with an initial investment of 10,000 rupees, or just
a few hundred dollars in today's money. He is often referred to as the father of the
Indian IT industry, serving as CEO of Infosys from 1981 until 2002, and then its
chairman until 2011. Infosys currently has a market capitalization of around $40
billion.
▸4. Azim Premji, (69):
He is worth an estimated $15.3 billion and is the chairman of Wipro Industries, a
diversified software and technology company that many have compared to Microsoft.
Premji is sometimes referred to as India's Bill Gates as a result.
10. ▸5. Lakshmi Niwas Mittal, (64):
She began his career working for his father's steel business. He later set out on his own due to
family infighting and created what is now one of the largest steel makers in the
world, ArcelorMittal which has a market capitalization of $16 billion. Mittal himself is worth nearly
$17 billion.
6. Ghanshyam Das Birla (1894-1983):
He started his first company in the early 1900s operating a cotton and textile mill. By 1919 Birla's
businesses also included significant paper and sugar production. By the time he died, Birla Group
was a multi-sector global conglomerate. His son Kumar Birla now runs the company and
commands a net worth of $7 billion.
7. Dilip Shanghvi, (59):
He started Sun Pharmaceuticals in 1982 with a meager 10,000 rupee investment. Today, that
investment has grown to a value of nearly 2 trillion rupees, making Sun India's largest
pharmaceutical company. Today, Shanghvi has a net worth of around $12.8 billion.
11. 8. Mukesh "Micky" Jagtiani, (62):
He is an Indian businessman who has spent most of his life outside of India. He was
educated in Mumbai and Beirut, eventually settling in London. While in London, he dropped
out of college and began driving a taxi before starting his first company which eventually
grew into the retail and real estate giant Landmark, now based out of Dubai. Landmark has
expanded into e-commerce, creating India's version of Amazon.
9. Shiv Nadar, (69):
He founded HCL Infosystems in 1976 with an investment of a few thousand dollars, selling
calculators and microcomputers. HCL soon expanded to Singapore and the far east,
generating over 1 million rupees in sales not long after its expansion. HCL has continued to
grow making Nadar a billionaire worth over $11 billion.
10. Ardeshir Godrej (1868-1936):
He co-founded the Godrej Group, a diversified conglomerate with interests in real estate,
consumer products, security, household appliances, and industrial tools. The company had
modest beginnings — Adreshir and his brother succeeded at lock smithing after failed
ventures into hand fashioned medical devices. Godrej Group was founded with a 3,000-
rupee investment, and the Godrej companies are worth over half a trillion rupees today.