entrepreneurship-emerging opportunities & challenges

8/14/2019 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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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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&&FAMILY BUSINESSFAMILY BUSINESS

Family ValuesFamily Values

ProfessionalisationProfessionalisation

Succession PlanningSuccession Planning


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entrepreneurship-emerging opportunities & challenges

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