Opportunity obsession Tolerance of risk

Who are Entrepreneurs? People who start and/or operate a business. Individuals who discover market needs and launch new firms to meet those needs. Risk takers who provide an impetus for change, innovation, and progress. All active owner-managers (founders and/or managers of small businesses).

Opportunistic EntrepreneursOpportunistic Entrepreneur A person with both sophisticated managerial skills and technical knowledge who starts a business

Characteristics

Broad-based education Scientific approach to problems Willing to delegate Broad view of strategy Diversified marketing approach Longer planning horizon Sophisticated accounting and financial control

What is Opportunity Obsession? Having intimate knowledge of customers needs Market driven Obsessed with value creation and enhancement

Tolerance of Risk Calculated risk taker Risk minimiser Risk sharer Tolerance of uncertainties and lack of structure Tolerance of stress and a conflict Ability to resolve problems and integrate solutions

Karsanbhai Patel Introduction Opportunity in professional life Domestic detergent market Innovative formulation Attained market share in the premium detergent segment Risk - Cheapest brand in the market

Achievements Udyog Ratna award Outstanding Industrialist of the Eighties Chairman of the Development Council for Oils, Soaps & Detergents

Vijay MallyaIntroduction Opportunities United Beverages(UB) Group Invested in F1 race, football and cricket Air Deccan

Mozilla Firefox Opportunities Growth Grabbed the internet market Understanding users needs Risk Microsoft Internet explorer Google Chrome

Conclusion There is no return without a risk. Good projected risks often go unnoticed. Well run projects appear to be almost effortless, but a lot of work goes into running a project well. If decision makers would have cared about risk then they wouldnt have had reached the heights.

It thus shows that opportunity obsession is a very important characteristic of an entrepreneur. Entrepreneurship is a way of thinking, reasoning and acting that is opportunity obsessed.

Presented by:Siddhesh Sahani Aditi Vijan Vikas Vyas Dhawal Upadhyay Lalit Solanki 123 179 181 175 165