Trishna Special EDITOR’S NOTE
MISUNDERSTANDING BETWEEN BUSINESS SCHOOL & BUSINESS
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Dear Readers B PLAN AND PLAN B
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ENTREPRENEURSHIP BOOM IN INDIA
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B-PLAN AND PLAN-B
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We bring to you the Trishna Special issue of Maconza. We salute the spirit of entrepreneurship in women. We cover Anita Roddick, the owner of British cosmetic retail company,
THE DEHATI GYM
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Body Shop and unfold the story of Ms. Priya Kumar, who belongs to a Hindu joint family
DEFINING AN ENTREPRENEUR
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and is a mother of two, in an interview with her. A lecture delivered by Ms. Rashmi Bansal,
ENTREPRENEURSHIP BOOM IN IN INDIA
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WHO IS AN ENTREPRENEUR
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in which she defines various types of entrepreneurs, has been covered. This issue highlights the need of having a Plan B, along with the B Plan and the role of a B
SUCCESS STORY OF ANITA RODICK
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School in shaping an entrepreneur. The passion of a sportsman, taking shape of entrepre-
ENTRPRENEURSHIP, THE NOT FOR
neurial aspirations has been put across
PROFIT WAY
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THE HIDESIGN STORY
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through the story of Arjun. With the entrepreneurship boom in India, huge FDI inflows and revival of the dying arts, an attempt has been made to explore some of
THE IMPACT OF FOREIGN INVESTMENT ON ENTREPRENEURSHIP IN INDIA
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the opportunities for Indian entrepreneurs. There is also something in store for the fitness
REVIVAL OF TASSAR SILK IN JHARKHAND
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INTERVIEW WITH MRS,. PRIYA KUMAR
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THE ‘XX’ FACTOR– WOMEN ENTREPRE-
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freaks who wish to be entrepreneurs. Check out!!! We welcome your feedback on the magazine at maconza.emagazine@gmail.com
NEURSHIP BLUR IN INDIA?
CROSSROADS- BEAT THY OWN SELF!!!
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- Meenakshi Aggarwal
Maconza
MACON
The Entrepreneurship Cell
“Macon” means ‘to Create or to Build’. The objective of launching the cell is to provide the common platform to those who aspire to be an entrepreneur and want to bring change in the society in a different way. These people can come together, express their views, show their passion, share their ideas, and nurture their dreams to see them turning into reality with the help of Macon. Through Macon’s initiative, we try to bring out the entrepreneurial skills and provide with the vital support system that a budding entrepreneur demands. The Vision “MACON is a conglomerate of individuals with a vision, a dream which surely can come true. It is a place for all those who want to create their own path and leave behind the trails of success. The Cell aims at nurturing the entrepreneurial spirit and tremendous energy among individual to a level where they can bring about a positive change in the society…a change that we all aspire for. MACON believes an entrepreneurial mind is a mind of original ideas and aspires to extend all possible support to it’s student and alumni members, in association with it’s strategic partner, NEN, and enable them to realize their dreams.” The Mission “To ignite the spark of entrepreneurship amongst students from IBS and other institutes and provide a common platform for individuals with an entrepreneurial spirit to develop, nurture, share and grow their ideas.” Establishing a new enterprise requires skills that have to be nurtured from a very early stage. The huge potential and skills of management graduate of India needs to be tapped and each and every college has to take up initiatives of creating not just job seekers but also job providers. However motivation and information at the right stage could lead to birth and nurturing of future entrepreneurs at the graduate level. Even for those who do not aim to start an enterprise immediately, the cell will help in providing them the platform to demonstrate their entrepreneurial skills. Page|3
Trishna Special
Opinion
Misunderstanding between Business School and Business Why do business schools misunderstand Business By Ashish Agarwal (Alumnus, IBS Hyderabad) Today B-schools are producing employees and not entrepreneurs. Most students see it as an entry to the money minting world. Most of the B-school grads accept the high-paying job; and after the honeymoon is over, all are frustrated and looking for answers to a basic question: Is this what I really want to do? What’s my calling? When we look into the future, we should look for the people who can exploit the opportunity rather than those who solve the problem. While problem solvers ponder over the fruit that has already fallen, an opportunist looks for the fruits that are ripe and ready to fall. An entrepreneurship-specific curriculum in Bschools is essential for today's entrepreneurs to create value—for their organization, and their stakeholders—whether they are building their own companies or playing a leadership role in any organization.
Differentiated products drive the growth of a company, and in a globally competitive world, those products become a necessity at increasingly accelerating rates. Therefore, companies need to continually innovate. This is why businesses of all sizes need entrepreneurs. Where do these entrepreneurs come from? Many are honing their skills by working with startups. While those who take this path do develop all the necessary skills, from opportunity identification to growth, they are particularly adept at finding outside investors. This skill, while critical for a startup, is much less for a corporate entrepreneur. For big companies in need of entrepreneurs, relying on those
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Maconza tial programs allows students to transform their classroom knowledge into real-world skills.
who have started their own business isn't really a solution. They simply don't have the right skills. That's where B-schools have a role to play. They can and must step up and create entrepreneurs, so badly needed in organizations of all sizes. An emphasis on entrepreneurship would help MBA students understand how to identify opportunities and create value. It should start by defining entrepreneurship in a way that communicates its relevance to corporate recruiters.
Success after Failure Henry Ford While Ford is today known for his innovative
We are unfair to ourselves by defining entrepreneurs by the size of the organization they work for or by the firm's growth potential.
assembly line and American-made cars, he wasn't an instant success. In fact, his early businesses failed and left him broke five time
Beyond redefining what it means to be an entrepreneur, B-schools must alter their curriculum in order to produce entrepreneurs. In addition to having stand-alone courses, the entrepreneurial mindset needs to extend to existing disciplines within the business school. The addition of experiential programs allows students to transform their classroom knowledge into real-world skills.
before he founded the successful Ford Motor Company.
Soichiro Honda The billion-dollar business that is Honda ,began with a series of failures and fortunate turns of luck. Honda was turned down by Toyota Motor Corporation for a job as an engineer, leaving him jobless for quite some time. He started making scooters of his own
Beyond redefining what it means to be an entrepreneur, B-schools must alter their curriculum in order to produce entrepreneurs. In addition to having stand-alone courses, the entrepreneurial mindset needs to extend to existing disciplines within the business school. The addition of experien-
at home, and spurred on by his neighbors, finally started his own business.
Source: www.onlinecollege.org
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Trishna Special
Opinion B-Plan and the Plan B
The importance of having a contingency plan while starting a business and even beyond that. By Manohar S Rajesh is a worried man. He finished his MBA from a reputed B-school and had taken up entrepreneurship, turning down a lucrative placement offer from a Fortune 500 firm. Things were going positive in the beginning but after a year, the difficulties in running the business at ground zero, rather than the imaginary world in the B-school, crushed on him. He was planning to close the business and join a small time firm for a ‘not-so-attractive’ package.
Insecurity ABOUT their future would be the next stage as they might feel a lot would be under stake. In the worst case, bare survival becomes difficult for them. This extreme case happens when a person does not know when to stop investing more. So, like someone said “Business is like gambling that one extra try would get you all that was lost”, the engrossing nature of an entrepreneur’s B-plan, arising most probably due to his emotional attachment, might lead one to a deep abyss. But does all this mean that we have to abstain ourselves from executing our B-Plan?
The fear of becoming a person similar to ‘Rajesh’ is always present in the minds of budding entrepreneurs and it is justifiable to a certain extent. People with good B Plans usually tide over the initial obstacles due to the enthusiasm they experience over their plans and go on to become successful if their product (or service) is lucky enough to be accepted by the market they wish to cater. But, if for some reason it takes time to gain that acceptance, chances are high that they might be dejected provided the high expectations they had for their B-plan. Gradually, the challenges and adventures become obstacles and problems and they might doubt the worth of their own B plans. Page |6
Maconza THE PLAN ‘B’ The answer is an obvious NO. After all, would there be any Tatas, Ambanis and Fords if their respective founders had abstained themselves from executing their B-Plans due to the fear of failure?! The solution is to come up with a Plan-B along with the B-Plan. Yes, I am talking about the “what if” plans that always gives the entrepreneur the necessary backup in case the new business fails to run in a successful manner. This sort of planning helps us to take the vital ‘calculated’ risks without jeopardising our bare minimum needs. The Plan B not only provides the entrepreneur a “safety net” but also instils in them an assurance and confidence and in turn may play a vital part in forming a successful business. Thus, the backup plans are not necessarily backward looking and should not be taken as a sign of meekness but rather as a consequence of rational thinking. A good backup plan should be based on our existing strengths (in our case, a MBA degree is definitely one!) and it should be practical and easily executable. TYPES OF BACKUP PLANS But, this sort of contingency planning should not be restricted to just “what to do after I exit my business” kind of scenarios. It is but one among the many backup plans that one has to have while running a business because in a business, it is always about revision of decisions and in that process, choosing an alternate plan of action to the existing plan.
Thus, apart from backup plans that revolve around exiting the area of business altogether, there are others which might be about shifting from one business to another. This kind of plans should be made after learning the nuances of running a business and evaluating the profitability of alternate plans. Still, other plans may not deal with anything even remotely associated with “going out of business”. It happens within the same business and it might deal with setting of realistic targets and how to achieve them. Initially, a potential entrepreneur, in her overconfidence over the plan, might impose on herself unrealistic and over-optimistic targets to achieve in the business and might plan accordingly. But ground realities might prevent them from achieving those targets. So, certain backup plans might aid them in rethinking their strategies based on their revised targets. Whatever the type of Business, it is necessary to have one of each type in different time frames of running the business. Moreover, budding entrepreneurs must tide over the notion that B-Plans are a conservative way to look at things and realise that these backup plans, as a matter of fact, would help them pursue their B-Plan more aggressively without the fear of survival. The benefits of the assurance that a backup plan gives may be better reaped if they are made immediately after, if not along with, the making of the B-Plan. So, what are you waiting for? Go ahead with your B-Plan...after making your Plan-B, of course! He who fails to plan is planning to fail! Page|7
Trishna Special “THE DEHATI GYM” Working out at the cost of nothing: A modern impossibility? By Divya Ann Selveraj
The Gymnasium is nestled within a rambling fenced garden with fruit bearing trees. It has its own assortment of gizmos all sourced right from nature. These gizmos include a barbell made from wood and mud and dumbbells sculpted out of stone, a chest lifter with two spherical stones fitted at either end of an iron bar. An earthen cauldron filled with sand on which they practice Karate is mounted on a brick supported hearth and is heated using wood. This open air gym does not even require the artificial comfort of an air conditioner. These fitness equipments made out of stones, wood and mud may sound crude but on second thought, the engineering that must have gone into creating them is unbelievable. Other than the conventional gym equipment, they have also created new equipments in innovative shapes.
Within the quietness of an orchard called ‘Amrud Bagan’ at Jonha, 40km away from Ranchi (the capital city of Jharkhand), a thought has changed into an idea which has given birth to a very unique venture: a rural Gymnasium. However unlikely the concept, it has been executed successfully. This “Dehati Gym” was pioneered by Nitesh Sonkar, an under graduate student. He was aided by his two friends Suraj and Shyam. These three first created the gym and then were joined by two more visionaries: Karan and Shekhar.
Whatever they did is eco friendly and does not use even a hint of modern technology. They have proved that to create something it is not necessary to destroy something else; especially not their green beautiful home. Money is certainly the biggest constraint one faces while starting any kind of a venture. But not for this group of youngsters who overcame it with sheer determination and hard work and the will to do something constructive, to give something back. Not only have they provided a village like Jonha a modern privilege, they have accom-
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plished something that youth in such areas can only dream of having, that too for free
To turn it into business may be possible by forming a framework of the privileged along with the unprivileged. The more privileged can, if they so desire, become stakeholders in a venture such as this and use its services and generate profit. At the same time they must not close doors to those who can’t afford to pay the fee however nominal. Neither must services to them be provided at a lower priority level. This is where the glitch comes. Once they overcome this it will turn into a model for all to look up to and emulate. It is a big step but the one that is dreamt will be possible for a group of youth so daring, so creative, so experimental and so enterprising that they literally created not just something but a lot of things out of nothing. Nothing more than their very own hands and what they found lying around (considered by most to be useless junk unworthy of anything constructive).
The importance of being fit is waning everywhere but Jonha’s youth will never be at a disadvantage when it comes to having an opportunity to fight this trend. Even though life in rural areas is comparatively active with cultivation and farming activities, modernity and its influences are everywhere. Also, to stick to ones roots and conform to change at the same time is difficult if not impossible. These five young men have become an inspiration to those facing this struggle. The gym was first built only for personal use. Now about a dozen fitness freaks attend the rural gymnasium. These very people also claim with great conviction that the services they provide are at par with any high end gym in the city. Suraj credits the wooden barbells for his biceps. Currently entry is only on the basis of friendship. No fees are charged. What the future holds cannot be predicted.
Entrepreneurship is all about going that extra mile without regarding personal benefit as the sole objective. It is mainly about innovating and daring to execute something unconventional. This they have already achieved. Future development in this case may require more than just the five of them but a larger responsibility from the society. Till then may the youth of Jonha develop their biceps and work out their way to new strengths not just physically but psychologically, knowing well enough that they are in no way behind their counterparts in the city when it comes to such matters. Sometimes it is only the mind that needs to be convinced. Nitesh Sonkar, Suraj, Shyam, Karan and Shekhar will never let this conviction die.
An enterprise whatsoever will have to keep its integrity intact. These young entrepreneurs may not be making money but they surely have given something and received benefits personally as well as satisfaction in the form of seeing their dream grow and go on to fulfil those of others. What we need to analyse here is whether turning it into profit making venture is feasible in this scenario. Will it be as happily accepted and will it do as much good as it is doing now? Will the cost of changing its nature be too much in terms of the loss faced by those in need of a facility such as this one? Page|9
Trishna Special
Opinion Defining an Entrepreneur stones of her odyssey.
Who is an entrepreneur? By Shubra Pant The session by Rashmi Bansal (the writer of Connecting The Dots, Stay Hungry Stay Foolish” and owner of the magazine Youth Curry on entrepreneurship, was a refreshing change from the conventional guest lectures. The young speaker was dynamic and open minded, who shared with us her insights on entrepreneurship, her experiences, the challenges she faced and what was that one thing that drove her to where she is today. We not only heard but experienced the great mile
Ms. Bansal started with a very common, yet unanswered question “WHO AM I”? It’s not just an unanswered question but its reach goes way beyond in the sense that it is introspection of one’s soul. The next question she raised was “what can I contribute to this world”? What is so special about me? What is that one thing that I can do best and only I can do it best? Moving on, she spoke about different types of entrepreneurs:
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The natural entrepreneurs who always had it in them to make it where they are today.
The logical ones, who grabbed the opportunity when life offered it to them and made the most of it.
Maconza
The emotional ones, who were always passionate about one particular thing in life and always knew and believed in that one thing
Accidental entrepreneurs, who became what they are by chance rather than choice
And finally, the experimental ones, who end up discovering that spark within them experimentally, are very much there.
The speaker’s next question was again a very fundamental one but not very easy to answer “what drives you?” What is that one thing that makes you happy and you just love working on it? She emphasized on the need to find that driving force and that passion, the belief in that passion and after the realization of that passion, things automatically fall in to place .She further emphasized on the point that we need to start from the basics and move from simple to complex and not complex to simple. In this regard, she quoted Steve Jobs as “you can’t connect the dots looking forward connect them looking backwards.”
what you want you will never have the passion and zeal to make both the ends meet. Once you know what you actually want and have the basic raw material you are all free to unwind your imagination. The most important message from the speaker was that what matters the most is the fact that you either love what you do or do what you love. Entrepreneurs probably never love what they do but they do what they love because that entrepreneurial spirit never lets them settle for anything and everything. Entrepreneurs are their own boss and do what they like rather than doing anything that comes their way.
“Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma – which is living with the results of other people’s thinking. Don’t let the noise of other’s opinions drown out your own inner voice. And most important, have the
She emphasized on doing something completely crazy and out of the box, going beyond the scopes of our own imagination want and innovate something and innovate something. It is a necessary condition to first know what you before you actually start working on it because until and unless you don’t know about
courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary” Steve jobs
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Trishna Special
Opinion
ENTREPREUNERSHIP BOOM IN INDIA Entrepreneurship is neither science, nor an art, it is a practice�- Peter Drucker By Gayatri Bose Entrepreneurship is a word that not only holds many meanings for individuals across the world, but is also a word that transforms and transfers one, instantly into a land of reverie, hopes and aspirations. There has always been a time when each of us has felt a need to change something or do something away from what is predicted and break away from the chains of expectations that bind us so tightly that at times, we suffocate and stifle because of the very society and social group on which we feed as parasites otherwise. The time when Indians, without much ado and hesitance, have started to express their yearning to spread their wings and fly seems to most certainly have arrived on the much tracked timeline. The entrepreneurship boom in India stands a living proof for such progress and yearning. However, one must wonder, is stretching your arms towards a more independent form of work just enough to sustain such a boom in any given arena?? Along with ideas, are born the forms and necessary helping hands that shall hasten the realization of such dream. I believe that the entrepreneurial
boom in India is not just a result of ideas, but also the support of various organizations and policies that have had their share of contribution. It is believed that India shall continue to unlock the keys of this boom for the next decade. The advent of technology, political changes and government support through entrepreneur-friendly policies has been instrumental in ushering the forces of change. The IT industry has been a leader in such causesetting examples and being a bandwagon leader, inspiring the other sectors as well to take on the initiative and thus ensuring the growth of the diversified sectors, through big and small entrepreneurial ventures. India has forever had the spirit of an entrepreneurship in her and though such spirit went unnoticed with bigger giants such as USA and China standing up shadowing her, the time has indeed arrived when India too has stood up and made an impact on the way the world has forever perceived her. There was time when colonization and socialism has buried the spirit of entrepreneurship, but today it is much celebrated and looked upon, by practically applying theoretical concepts, like reverse positioning, proving to be successful in spite of criticism and political issues. However, each new venture faces challenges of various types. The first of such challenges is the primacy of the venture and entrepreneurship. With increasing number of Indians Page |12
Maconza moving towards an entrepreneurial trend, it has been noticed that some of them have not had any entrepreneurial activity in their background. With dearth of investors and the much required infrastructure, it only points to the lack of entrepreneurial ecosystem. A second challenge is the threat of competition from the existing ‘biggies’ in the market who are the giants having a lot of money and investment. Being existing players, they are also a part of the customer’s and target market’s attention and retention power and capacity. On further consideration, capital too emerges as one of those challenges, that young new foal in the entrepreneurship arena might face. Though there are Venture Capitalists existing in the market for the exact purpose of providing funds to new start ups, there are few who support the idea during the initial stages. In addition, with increasing number of start ups, there arises the problem of mobilization of funds from the old ventures to the new ones. There also lies the problem of reduced access to these VC’s due to the sudden flooding of ideas and entrepreneurial brainwaves. Any business, to start off, needs the power of the human capital too. A one-man army in today’s world is no longer enough to take on the world. However, it also needs to be considered that people, no matter how risk taking, would ever wish to take risk with their future and hence therein arises the problem of a young entrepreneur, the problem of finding adequate and adept human resource for the venture in its nascent stages. The attrition rate in these start ups has also thus been Page|13
observed as high and mostly, it is the young inexperienced who join the entrepreneur. This also implies that the knowledge and the experience of the personnel, which are important elements for steering the ship, may be lacking in most of the ventures. Another straw would be to keep up with the fast pace of globalization in today’s world and develop the contacts and networking skills required. On the social front, since entrepreneurship is viewed as risky and seems to be lacking a consistent and regular flow of funds, it is still not a widely accepted concept in the Indian minds which looks for security issues first when deciding upon the acceptance of an individual into their social group. Despite the above, there have been fascinating and inspiring stories that emit rays of hope beyond the darkness of the challenges mentioned above. Networks such as NEN have been set up to not only encourage the entrepreneur overburdened with the expectations of regulated cash flow by the society but also to help people start thinking in a way that differentiates them from the rest of the herd. There are E- cells that have been set up in various B schools across the country (for MACON, the E-cell of IBS, Hyderabad) that maintains contacts with venture capitalists and convince them to provide funds to the young minds, in order to achieve their dream and do something different in the world. Shashi Ruyia of the Essar group, in his speech at the National Institute for entrepreneurs, rightly said, “There has not been a better time in India to reach out and touch the horizon … entrepreneurship is no more limited to family-managed businesses in India”
Trishna Special
Opinion Who is an Entrepreneur?
‘Be the change you wish to see’ By Kunaall Jumani Memories are a part of everyone’s life. We tend to bask in past glory and remember those phases of life, where we have performed exceptionally well and not only made others proud of us but also ourselves. What is it that makes that moment extraordinary and etches it into our mind forever? Why is it that we feel a renewed positivity when we think of that moment? What makes that moment so special and so different? As these questions flash through my mind, I am reminded of this one person, a real good childhood friend and a neighbor of mine. He is Arjun, a tall and lean, 18 year old guy. His passion, since childhood, has been Football. He can play the game for close to 12 hours with just one break in between, such is his stamina. Arjun has never had an inclination towards education. He always used to scrape through his examinations. Every single day, he would reach home, drop his bags in his room, grab a bite and call all of us out to play football with him. If no one agreed to come, he would play all by himself which pulled everyone out to play. While we were kids, Arjun and I got along
really well. We were inseparable and shared a bond exactly like two brothers. We were in the same school, took the same school bus to go to school and return home. We shared our food, games, clothes and even stayed with each other. Such was our bond that even each of our parents considered both of us as their children. The two of us were the naughty brats of the neighborhood. We would do all the mischief and ensured that the blame went on any one of the others. At the age of ten itself, Arjun made up his mind that he was going to become one of the greatest footballers ever. The way he worked towards achieving his goal, everyone around him knew he would achieve it. He was selected for his school football team the same year. He was the youngest and all his team mates used to bully him. The team coach used to console Arjun but laughed at him afterwards. I didn’t like the two faced coach one bit. He wasn’t even qualified enough to be a coach. He just played for the state team for 8 matches. Arjun always complained to me that the coach didn’t use proper strategies. This went on for at least a year. As Arjun played in the team, he began to gel with the team and all the team mates became his friends. One fortunate day, it was one of our friend’s birthday and there was a football match and our school had with another school. Arjun was supposed to be a part of the team. So, all of us Page |14
Maconza decided to watch the match and then go to our friend’s place for lunch. The pavilion was a full house. All students from our school as well as the opponent school were already there. It was the final match and as per Principal’s orders, the team had to win. Both teams entered from opposite ends of the field with their coaches.
This was the defining moment for Arjun as he had to prove his caliber to all those who felt he wasn’t as good. Our team went on to win the match and Arjun was hailed and carried all round the field by the team. Age no bar, Arjun was given all the respect he deserved for getting away from the norm.
Our school coach continued with the same strategy as earlier. The whole team was bored of playing with the same formation and pattern from the past one year and they wanted a change that could be challenging and provide a victory, when it was crucial.
Well… Arjun is not a footballer yet but will be one soon. Also, he is a multi talented person with football as his passion and photography as his hobby. But he is no less than a professional photographer. That’s not it, Arjun also has dreams to be an entrepreneur and this dream has taken him to one of the premier B Schools in India.
The team gathered and brought out what they wanted. All of a sudden, Arjun came up with his strategy and made the game plan, altogether different from that of the coach. The team was convinced with Arjun’s plan and the game began. The coach saw sudden formation changes and began to yell. All of us began to wonder what happened, and then the captain was called. He told the coach to sit down and watch and stopped him from giving further instructions. The offended coach resigned that very moment and the team began to celebrate, instead of feeling bad or getting scared. The game resumed after a confusion lasting for twenty minutes. The opponent team had been the constant winner of the Tournament till then. The shield went to them for 4 years in a row. This time, our team was determined to break this record and we were confident because Arjun’s strategy never failed. All round the ground there was continuous cheering, “Cottons, Cottons”.
Arjun, does not have a B Plan as of now, but he has a dream. He has an ambition. He has a vision. And last but not the least, he has the capability to stand against all odds, the potential to be different and the capability to take risks even when he is under a pressure to produce the best of the results. Arjun portrays the true spirit of an entrepreneur. Entrepreneurs are not a part of the herd. They are not followers, they are the leaders. Entrepreneurs are not born, they are developed by their grit, determination and will power.
The entrepreneur always searches for change, responds to it, and exploits it as an opportunity. Peter Drucker Page|15
Trishna Special
Successful Entrepreneurs
The Success story of Anita Roddick The Story of one of the most inspiring women entrepreneurs of all time By Manohar S If someone asks people to list down the names of the entrepreneurs they know, it would not be surprising if they come up with the names of Ratan Tata, Bill Gates, Warren Buffet and the like. Whatever names they would come up with, that list is most likely to have one common feature. I am sure we would be thinking of lofty aspects like guts, intelligence and glory of those personalities once we look for the commonalities. But above all these is one simple common attribute. The common person’s idea of an entrepreneur is that “HE” would be a male and the list that he would come up with, would be a male-dominated one, irrespective of which gender he/she belongs. Are female entrepreneurs few in numbers? A dispassionate analysis would tempt a person to answer in the affirmative. The reasons were (hopefully not “are”) plenty. Whatever the obstacles are/were, things have changed in the last few decades. Women entrepreneurs have begun to show up and are beginning to prove that they are inferior in no way to their male counterparts. Let us take a look at the inspirational life of one such entrepreneur, Anita Roddick. Anita Roddick was the founder of British cos-
metic retail company, Body Shop. What made it stand out in the cosmetic industry was that it stood for “ethical consumerism”. The Body Shop was one of the first commercial cosmetics outlets to prohibit the use of ingredients tested on animals and one of the first to promote fair trade with third world countries. It stood for aspects like community trading, human rights protection and promotion of selfesteem based on the ideals of its founder, Anita Roddick who vigorously campaigned for environmental and social issues involving herself with organizations like Greenpeace. She attributed her work ethic to her childhood life which in no way was a smooth road. She was born in 1942 as the third child to parents who would get divorced when she turned eight. She grew up working in a café and one fine day she stumbled upon a book on the holocaust, carrying horrible stories of the Nazi concentration camps. “This kick-started me into a sense of outrage and a sense of empathy for the human condition”, she would later say. She initially wanted to become a teacher and Page |16
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accordingly pursued her tertiary education. She had earned herself a scholarship to study in a “kibbutz” in Israel where she was expelled (thankfully?!) for playing a prank. She held various jobs and travelled to many places from South Africa to Tahiti. She went to a school in South Africa where again she was expelled for violating an apartheid law. She returned home and shortly married Gordon Roddick. The two of them made a living running a restaurant and an eight room hotel. One fine day after Gordon Roddick went trekking on a horse from Buenos Aries to New York leaving her to support her two girls; she started a cosmetic retail “The Body Shop” (incidentally, placed between two funeral parlors!) in Brighton, England. Out of desperation, she created cosmetics out of every ingredient that she had stored in her garage. Her products contained ingredients that women used in cleansing rituals that she had witnessed in her travels. She opened her first shop with only twenty five products financed the store using her hotel as collateral. With its strong environmental flare and popular demand of the products, Roddick had already opened a second shop before her husband’s return after 10 months. She took the franchising route when the company was in a financial crunch and spread franchises all over England. In 1984, the company decided to go public, a decision she thoroughly regretted as their company was evaluated by how much profits they were making and not the number of jobs they created being the socially active
company it was. Today, The Body Shop has over 1,980 stores and more than 77 million customers in 50 different markets serving customers in over 25 different languages. Its success put Roddick’s net worth at more than $200 million. In 2006, the company became an independently managed subsidiary of the L’Oréal Group. The Body Shop has a reputation for supporting social and environmental causes, thanks to Roddick’s strong personal sense of social responsibility. After stepping down in 2002 from co-chairman, she spent 80 days of the year working as a consultant in her stores and used the rest of her time to advance causes in campaigns against human rights abuses and exploitation of the underprivileged. On September 10, 2007, Roddick passed away due to a massive brain hemorrhage
ANITA RODDICK ON ENTREPRENEURSHIP
“If you do things well, do them better. Be daring, be first, be different, be just”(sic). “Dysfunction is the essence of entrepreneurship. I’ve had dozens of requests from places like Harvard and Yale to talk about the subject. It makes me laugh that ivy leaguers are so keen to “learn” how to be entrepreneurs, because I’m not convinced it’s a subject you can teach. I mean, how do you teach obsession? Because it is obsession that drives the entrepreneur’s commitment to a vision of something new.”
Trishna Special Entrepreneurship, the not-for-profit way A not-for-money way of Entrepreneurship By Gayatri Bose
self to this narrow definition of an entrepreneur. An entrepreneur is not only the one who has an idea and earns profit but she is also the one who hits upon an idea for a social cause
As I waited in my car for the signal to turn
and can also be rightly termed as an entrepre-
green, a soft tap on the window suddenly
neur- a social entrepreneur. The Skoll Society
brought me back from my reverie. It was a lit-
defines a social entrepreneur as ‘a change
tle girl begging for alms, holding the baby
agent; a pioneer of innovation that benefits so-
‘sister’ in her arms. It was this pitiful sight that
ciety. The seventh United Nations General
got me thinking. Academy Award Nominated
Secretary, Mr. Kofi Annan describes social en-
Slumdog Millionaire was an instant hit all over
trepreneurship as "Founded on the principles
the world. The audience thoroughly enjoyed
of private initiative entrepreneurship and self-
and absorbed every word of the movie, conven-
employment, underpinned by the values of de-
iently ignoring the pathetic condition and the
mocracy, equality and solidarity, the co-
hidden truth of the gamble that was openly
operative movement can help pave the way to
broadcasted. As such issues stare the world in
a more just and inclusive economic order”
the face, one needs to be empathetic and in the
The above definition may sound too ideal to fit
least, take note of the existence of these social
into an idea that is essentially perceived as a
problems.
profit making enterprise. However, this very
In his recent visit to India in November 2010,
idealism has become reality, as more and more
the President of United States of America, Mr.
entrepreneurs are investing their profits for
Barack Obama mentioned the recent trend and
social causes. For a social entrepreneur, wealth
potential of entrepreneurship in the world.
is only a means to the end and such wealth is
Though entrepreneurship is often related to a
generally used for the betterment of the society
profit motive and business for the purpose of
and protects humanity and Earth against sen-
creating wealth, yet one must not restrict her-
sitive issues. Page |18
Maconza It has been more than a year since recession;
nues and sustain itself. It uses these funds to
however, it has left its scars on many people.
create a lasting impact on the society as well as
Poverty and unemployment suddenly became
identify opportunities wherein there lies the
the most feared words in the job market. It is
potential to change the world. An entrepre-
since then believed that entrepreneurship is
neur is identified by his ability to innovate. In-
necessary to set off the loss that has been
volving in social entrepreneurship implies that
caused by these factors on a society so fragile
there is a need to heavily innovate the kind of
and vulnerable.
offering. In today’s world, where the society is
The term social entrepreneurship is often mis-
increasingly conscious of the societal needs
taken to be another form of charity. As rightly
and what the society most yearns for, it is
described by Emanuel Swedenborg, “True
these social entrepreneurs who are required to
charity is the desire to be useful to the others
innovate their offering. Today, one might be
without thought of recompense�. Social entre-
able to suggest the names of a lot of NGOs that
preneurship, on the other hand is a non profit
are involved in serving the society. However, if
motive that relies less heavily on donations
the social entrepreneur is unable to provide
and reinvests its donations to generate reve-
something different to the society, it may lose
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Trishna Special
Successful Entrepreneurs
its visibility in the market. Thus, unfulfilling
major challenge, of course lies in procuring and
one of the primary requisites for carrying forth
channeling the investments towards such
a venture of any sort. Innovation is however,
cause.
not restricted to offering proposition that is
The impact of such a venture however is
totally unheard of. It may also extend to a
largely and mostly dependent on the business
common proposition with a few variations and
generated at the base of the pyramid, that is
it is these variations that may make all the dif-
the lowest segments of the society at whom
ference.
these ventures are primarily aimed at.
Since the social entrepreneur serves the soci-
One of the best examples of a successful social
ety, one of the basic characteristics that me
entrepreneurship ventures is Grameen Bank as
must possess s awareness and empathy for the
suggested by Muhammad Yunus, for which he
cause one is working on. One needs to believe
was also awarded the Nobel peace prize. He
in the cause they are working for in order to
opines “I’m encouraging young people to become so-
show results. Social entrepreneurs are not dis-
cial business entrepreneurs and contribute to the world,
couraged by the lack of funds for they see the
rather than just making money. Making money is no
greater opportunities that lie ahead of them for the betterment of the society. As with most forms of entrepreneurship, capital is necessary. However, funds have always been scarce for social entrepreneurship. It is for these reasons that business men have developed the concept of patient capital for funding these ventures. Patient capital is simply the long tem capital that is appropriated and accumulated from the profits of their other business ventures. Some modern economists today view patient capital as a poverty reduction tool that must be provided to those who wish to dive into the sea of opportunities of social entrepreneurship. The
fun. Contributing to and changing the world is a lot more fun.” The concept of Grameen bank is very simple. Money is lent to a group of poor people to invest and start their own business. The revenues thus generated are used to pay back the loan. This capital is then recycled to initiate further business and encourage more small scale entrepreneurial activity which in turn acts as a poverty alleviation measure. As the signal turned green, I drove towards my destination with William Drayton’s words in my mind. "Change starts when someone sees the next step."
Page |20
Maconza The Hidesign Story……… Are you Chic, are you Fab, do you crave for Style, Do you adore Design?? Do you own a Hidesign?? By Akanksha
have anything to do. To beat the boredom, he
“When I began, one of my biggest weaknesses
sat down with an artisan and hammered out
and strengths was the fact that I really didn’t
his first leather bag followed by another six
care. I didn’t care if the company flopped or if
bags. Then, a German friend bagged orders for
it survived because that was not what was
Kapur. He got an order from a German house
driving me. It took me many years to realize
for 1,400 bags, 200 of each design. With in-
that doing your own thing is making your own
creasing demand from the foreign market, Ka-
brand,” says the free spirit entrepreneur Mr.
pur was pressed into expanding his workshop.
Dilip Kapur (Kapur), President of Hidesign.
Soon, there were about 200 people working
Kapur spent his childhood in Sri Aurobindo
under four roofs.
Ashram, located in Pondicherry and always
With no background in business, Kapur learnt
thought America was the centre of the world.
the tricks of the trade bit by bit and currently
At 15, he wrote to the headmaster of the Ando-
the turnover of Hidesign India is more than
ver Phillips Academy (Massachusetts) asking
Rs.100 crore. It retails through 52 exclusive
for admission. Surprisingly, the letter from the
stores and has its presence in over 100 multi-
ashram was accepted and all fees were waived
brand outlets. Hidesign, which came into exis-
off.
tence in 1978, as a ‘one-man-artisan workshop’
In 1977, after completing his studies, Kapur re-
with Rs.25,000 (for a sewing machine, some
turned to Auroville, Pondicherry. Once back to
leather and a worker all accommodated in a
the sleepy south Indian town, Kapur didn’t
thatched shed on the roof of Kapur’s house) is
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Trishna Special
Successful Entrepreneurs
now a global trendsetter in the leather fashion
Hidesign’s joint venture with the Future Group
accessories segment with international sales
has led to the launch of a successful fashion
worth Rs 200 crores.
accessories brand for the modern Indian
Initially all Hidesign products were exported to
woman called Holii. Kapur is currently work-
Britain & Australia but the Indian market
ing with Rohit Bal on a new luxury brand for
opened for Hidesign with liberalization in the
the modern Indian woman.
1990s. Currently, numerous embassies and
That is not all, the man behind this successful
consulates in New Delhi and other cities have
venture has many feathers in his cap and to
made it a point to give away only Hidesign bags as official gifts to visiting dignitaries. There are hundreds of Indian and multinational company executives who like to flaunt this 'Made in India' brand, who flaunted nothing other than global brands like Louis Vuitton, Prada or Gucci until some years ago.
talk about it all would need a separate book. Kapur backs up quality with solid customer care and after-sales services thus caring about the products long after they have left the shelves. This is a story of a hobby that made a buzz both in the Indian and foreign luxury market. So what is your hobby???
Page |22
Maconza IMPACT OF FOREIGN INVESTMENTS ON ENTREPRENEURSHIP IN INDIA How badly can Foreign investments affect Businesses in India?
the Survival of the fittest kind of situation. There are people who argue that there were many companies in India who had great potential but did not live up to it and it was the for-
By Manohar S. Today, India is a hot destination for global investors. The money flow from FDIs and FIIs in India has reached phenomenal levels and is expected to touch $50 Billion by the end of the financial year 2010-11 alone. This is now a keenly observed phenomenon by policy makers and economists alike. Another important section of people noticing these developments are the entrepreneurs. From start ups to well established entrepreneurs they are dreading or looking forward for the FDIs. Observing India’s ability to withstand the Global slowdown, confidence of the foreign investors is very high. Moreover, the return on their investments in their countries is low, given the recent slump in growth and economic dormancy in many of those countries. This has further encouraged inflow of foreign funds in the recent years. Given the circumstances, the question that arises in an entrepreneurial mind is- whether this is a disadvantage or advantage. Their doubts are not baseless, given the fact that influx of more foreign funds usually results in
eign investment through joint ventures that enlivened these companies. So, it would not be a blunder to extend this logic and say that if a start up is showing potential, it is sure to be noticed by investors who might be Indian or foreign. Investments from foreign organizations on start-ups are not ruled out of the equation. This is mainly due to the competition which forces them to be vigilant and notice any innovation, so that they could capitalize on it before their competitors do. But this does not mean that going the FDI way is a bed of roses. To be noticed or to make a mark in the target market is very difficult,
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Trishna Special
Successful Entrepreneurs
given the competitor-infested scenario. This means any innovation or business plan should be really good. Foreign venture capitalists are usually extra careful and apply stringent tests on the B-Plans, given the fact that they have to risk their money in a far-off land and that too on a start-up instead of an established company which is likely to make profits. But one thing is for sure, any plans for starting up a business in an existing, well established field will now have to be seriously deliberated and carefully executed because it is difficult to match the capital employed by these well established firms. But the advantage is that this is an open market scenario wherein anyone’s new product or service is bound to be accepted provided it is good, irrespective of whether the firm is big or not. This could be well illustrated by the recent developments in the retail sector. The influx of FDI is being encouraged into the retail sector. This sure is bound to have a profound impact and is seen as a big threat to the small retailers. There were arguments that it would write off the inherent entrepreneurship of small retail in India. Hence, there were calls for the government to manage this FDI in a calibrated manner. But if events just prior to this are of any indication, then it would serve as a good source for allaying these fears. It is because even before this allowance for FDI was finalized by the government, big corporate houses no lesser than Reliance industries limited (RIL) and Aditya Birla Group had set up
their retail outlets. The former had Reliance fresh and the latter came up with More. These retail outlets were expected to perform really well, given the capital at their disposal and the brand value they commanded. Moreover, they came up with an attractive business model which involved direct sourcing from the farmers, removing the costs involved with the use of intermediaries. They were expected to elbow out the common corner grocery store and other small retailers which they apparently have not done. Even though these initiatives by the corporate houses were not failures, they did not affect the business of small retail outlets in a significant manner. In fact, the small retailers actually made great use of these retailers as there were incidents of small groceries sourcing their grocery from these bigger outlets and selling them to their customers! But it is true that the big players have not been around for a long time in the retail business thus making it premature to come to any firm conclusion. But still there are two lessons to be learnt. One, entrepreneurial skills are not dependent on the capital at a person’s disposal (E.g. Small retail outlets outwitting the ‘biggies’). Two, India as a market has space for everyone. This could be extended to any industry, proving that all these talks of high influx of foreign funds diminishing the spirit of entrepreneurship could in fact be exaggerated, if not wrong. So high FDIs or no FDIs, a good idea backed by good commitment will make it through!
Page |24
Maconza REVIVAL OF TASAR SILK IN JHARKHAND A unique opportunity for entrepreneurship in the tribal community
berry silk. The rare craft of rearing silkworms which was indigenous to the tribal of the state slowly began to extinguish when the cost of living and
By Divya Anne Selvaraj
exploitation from the purchasers increased to an unbearable magnitude. Diseases which
With the continuing economic growth in India, it has become a habit to compromise upon some industries which are not purely profit oriented. This compromise has also taken into its void some distinct traditional occupations which have characterized certain regions in India with uniqueness and exclusiveness. This
killed the silkworms before they formed cocoons caused the farmers to incur huge debts and hence lose their lands to money lenders. These facts have now come to light, with the government trying to amend by fixing trading terms and providing support incentives like seed capital and subsidized raw materials.
was the condition of the Tasar Silk Industry in
The question that arose was how to reach this
Jharkhand. Tasar Silk is a delicate golden hued
new development to the farmers. This is where
fabric, slightly coarser in structure than mul-
NGOs like PRADAN (Professional Assistance
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Trishna Special
Successful Entrepreneurs
for Development Action) stepped in as media-
interests.
tors between the government and farmers.
The second branch comprises of farmers who
This has given rise to four branches of employ-
rear silkworms in the forests around them.
ment: production of DFLs to be sold to farm-
They buy DFLs at subsidized rates from the
ers; rearing of silkworms and harvesting the
Government through Distributors.
cocoons; raising tree plantations which feed
The third branch comprises of plantation de-
Tasar silkworms and finally, reeling and spin-
velopers. Tribals in this region are owners of
ning.
large pieces of wasteland. They are being en-
DFL producers are trained through NGOs and
couraged to develop these into privately
‘Grainages’ for the purpose are built through
owned plantations of Asan and Arjuna. In the
governmental subsidies such as the Swarna-
future, most of the Tasar production will be
jayanti Gram Swarozgar Yojna (SGSY). This
from these areas because of the controlled and
has given many people an alternative if not the
disease free environment of these plantations.
only employment opportunity. Once they learn
The fourth branch comprises of rural and
how to develop the DFLs they become owners
semirural populace who are provided with the
of their very own enterprise. They can then sell
cocoons from which they extract yarn. This
their produce to the government or to rearers
activity is known as reeling and spinning.
around them at a fair price without the inter-
Reeling and spinning, to a large extent, is a
vention of private parties with vested inter-
community based, governmental or NGO as-
ests.
sisted activity. Self Help Groups have been
The second branch comprises of farmers who
formed to improve the economic and social
rear silkworms in the forests around them.
condition of women. Individual effort is yet to
They buy DFLs at subsidized rates from the
be taken in this regard. Weaving, which is the
Government through Distributors.
final process of crating Tasar silk fabric is not a
The third branch comprises of plantation de-
traditional occupation of the Tribal commu-
velopers. Tribals in this region are owners of
nity. Efforts are being taken to promote the
the rearers around them at a fair price without
above so that the community can have total
the intervention of private parties with vested
control over the entire production process and
Page |26
Maconza earn greater profits.
(CSB), and NGO’s have together in a unique and powerful effort helped revive the spirit of self help among the rural tribal populace of Jharkhand. Silkworm rearing has once again become a profitable occupation especially with the growing awareness of organic fabrics. Organizations such as PRADAN have reached out directly to farmers with new technologies. The Central Tasar Research and Training Institute (CTRTI), established in 1964 in Ranchi, has qualified scientists and researchers continuously developing new technologies to
Tassar Silk Print
increase the productivity of the industry and
Therefore, entrepreneurial opportunity can be
to provide training to farmers and Rs. youth
cited in the first three branches. Significant
alike who are interested in venturing into this
levels of women entrepreneurship can also be
industry.
found in these fields. Women have discovered
The positive results that have been achieved
the benefits of earning their own money as
are only due to private individuals who really
they are enabled to supplement the income of
dared to take up this new opportunity, indi-
their husbands. It has empowered many to
viduals like Piyush Ranjan Tudu of Dodhajhal
send their children to school and earn a re-
in the Dumka district of Jharkhand. This 22
spectable and equal place in the society for
year old earns about Rs. 20,000 a year by pre-
themselves.
paring and selling DFLs to rearers around him.
The entrepreneurial flame has now been lit
If others like him decide to make a life for
amongst the tribal farmers and their families.
themselves the community will soon come out
They can once again be self dependent. The
of the shackles of poverty and they will owe it
Government, through the Central Silk Board
all to no one but themselves.
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Trishna Special
Successful Entrepreneurs
Interview with Ms. Priya Kumar
Housewife, mother but most of all, a successful entrpreneur By Meenakshi Aggarwal and Gayatri Bose
How was PROVAS born? PROVAS was born as a result my enthusiasm and my wish to do something of my own. I had been working since the age of 18, first as a Customer Care Executive in a small company and then in Deloitte. After getting married, I shifted to USA and started working as an assistant with the CEO of a well firm where I was praised for my willingness to adapt to conditions. I also asked my boss to shift me to some other vertical as I would be able to use my intellect and creativity since the job of an assistant is very mechanical. I permitted to work with any other functional area I would like in addition to the job of an assistant. I explored some more areas and realized that my skill set could be used for something better. I also realized that the work I was doing for my employer could be done for myself in the sense that I could provide administration services to business houses who are willing to out-
source the same. On realizing this, I explored the market for the same in the US. The US market providing such kind of services was quite mature but such kind of services were yet to be provided and popularized in India. I had the idea and also the willingness to implement it but had to wait to return to India as I was on a dependant VISA. As soon as I came to India, I started giving shape to my idea. Finally, in October 2009, PROVAS was born.
What is that one thing that drove you throughout? My urge to be known and be someone apart from the crowd always motivated me to work really hard.
What was it from your professional life that
Page |28
Maconza worked to your advantage in starting this venture?
What according to you is the most important thing for a business?
The first and the fore most thing that helped me was the network I had built over a period of time while working with different organizations. I consulted some of my previous employers and friends and acquaintances in the US who encouraged me to go on with the venture. It was only through my networks that I that I managed to tap the target customers in various parts of the world. Also the experience gained while working as a business analyst helped me immensely.
Discipline and ethics are the two most important things in a business as they bring back the customer and assure them of fair and just practices.
What are the qualities that you want to instill into your organization? Competency, commitment and confidence. That is why I have just one employee working as an assistant as I believe in quality work and not in quantity. Also my assistant is as committed and competent as I am. But there have been college interns working on their respective projects in my organization.
Ma’am you just said that you have just one employee working for you. So, your costs must be very low. Is it so? Yes, definitely. Apart from the basic costs, the costs I incur now are on two internet connections, electricity back up, phone charges and an employee.
Ma’am after having worked in both India and US, do you see a difference in the attitudes of people towards women entrepreneurs? Yes, definitely. I think the basic difference comes about in matters of family support and the husbands consent in the case of a married woman. But in US, the gender does not play such an important role. (Being a male and female does not matter). I have been fortunate enough to have such a supportive family and husband without whose support striking a balance between my personal and professional life would have been difficult especially since I have two small children.
What have been your greatest accomplishments till date? I believe my greatest accomplishment is the greeting card given to me by my daughter on the occasion of Mothers’ day on which she wrote’ mom, you are my role model’. There can not be a better compliment for any mother in the world. Just to share with you, one of my clients once said to me- “In God and Priya we trust” when
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Trishna Special
Successful Entrepreneurs
he was really very happy with my work. This is one of the compliments which I take as an honor and cherish till date.
Indian citizen. Fulfill your dreams in a way that are acceptable in India.
How is it that you strike a balance between your personal and professional life? Inspirational story
The first thing that works to my advantage is the fact that Provas is a virtual service provider and the fact that I operate from home. This enables me to have flexible work timings and be available for my kids when they come back home with a trophy or a bruised knee. As a parent, it is my duty to give fond memories of childhood to my daughters. Though some issues might crop up at some point of time but I manage to pull through with the help of my husband and kids.
Success after Failure In the 1940s, a young inventor named Chester Carlson took his idea to 20 corporations, including some of the biggest in the country. They all turned him down. In 1947 - after seven long years of rejections! - he finally got a tiny company in Rochester, New York, the
As we come to an end, I would like to ask you that who is your role model?
Haloid company, to purchase the
My role model, undoubtedly, is my mother who herself is an entrepreneur. THANK YOU SO MUCH MOM!!
static paper-copying process.
rights to his invention - an electro-
Haloid became Xerox Corporation we know today!
In the end, I would like to request you to give a message to budding women entrepreneurs?
Source: http://www.allinspiration.com/
Always believe in yourself as you will face a lot of challenges in life. Also learn to multitask as there are a lot of expectations from you as an individual, as a daughter, as a wife, as a daughter-in -law as a mother and as an Page |30
Maconza The ‘XX’ factor- Women entrepreneurship blur in India? How does gender matter when someone is inclined towards an idea that might bring change and urge to do something for the society? There is perhaps nothing more disheartening as an entrepreneur than having your ideas belittled based on your gender.
Are the number of women entrepreneurs growing in India? What can be done to encourage women entrepreneurs? By Subhashree Srinivasan
What drives women to a workplace? Many things are left ignorant; obvious issues like global warming and economic disturbances even if the signs are clear. On the same lines, the government and people of India, chose to remain ignorant of opportunities that lay ahead for women entrepreneurs despite some signs that show clear growth in the number of women entrepreneurs, over 10% from 1990. This untapped sector of our society still remains in the myths that she does not have what it takes to become an entrepreneur. But many women have broken barriers to travel to the other side where only men were allowed. Over the years, women’s potential as an entrepreneur has been recognized as an important factor for economic growth. They have proved their caliber with the management skills and raised to occasion whenever required but still, women entrepreneurship takes a back seat in our country. Why is there a discrimination against women’s possibility to become entrepreneurs and their possibility to become successful by choosing the road less taken? Let’s begin with a basic question, “Why do we need women entrepreneurs?”
She could be the sole bread winner of the family or it could be her inherent desire to achieve and use her potential to the fullest. Adding to this, empowerment of women with adequate education and changing lifestyle have helped women seek better options and draw into ventures. This has helped them to challenge existing scenario and go beyond the popular knowledge of sarcasm and superstitious beliefs. Do they make better entrepreneurs than men? Our customs and traditions have imbibed certain characters like trust, patience and effective execution of decisions. These characters start from our own families. This has made women as competent as men. Matching the basic qualities required for entrepreneurs and the basic characteristics of Indian women reveal that, much potential is available among the Indian women on their entrepreneurial ability. This potential is to be recognized, brought out and exposed for utilization in productive and service sectors for the development of the nation. Contents of entrepreneurship don’t target just men but is generalized. However, women have shown specific capabilities than their opposite gender; for instance networking and socializing.
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Trishna Special
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Whether they make better entrepreneurs than men still remains an unanswered question. But what can be answered is that they can do as
much as men can.
The statistics from all over the world SOURCE:http://www.entrepreneur.com/encyclopedia/businessstatistics/article82018.html) 43% of women business owners (vs. 32% of men) say the one thing they need to be more success-
ful is money. 27% of women business owners will invest in new technology such as computers and software
over the next six months. 56% of women business owners plan to make their business environmentally friendly by recycling
waste products. 94% of corporations send supplier diversity representatives to women's business conferences and
trade fair 85% of women surveyed don't believe being a woman is detrimental to their business success,
while 32% believe it's beneficial. 69% of women entrepreneurs say they feel confident with the decisions they make regarding ex-
ternal financing for their businesses. 32% of women business owners believe being a women in a male-dominated industries is benefi-
cial. 10.6 million firms are at least 50% owned by a woman or women. Women-owned businesses will
spend an estimated $546 billion annually on salaries and benefits ($492 billion on salaries and $54 billion for employee benefits--heath, retirement, and insurance). Health benefits comprise the largest share of benefit expenditures, with 2004 spending estimated at $38 billion. Women-owned firms employ 19.1 million people and generate $2.5 trillion in sales. Privately-held 50% or more women-owned firms are just as likely as all privately-held firms to
have employees (23% of women-owned firms compared to 25% of all firms). Annual expenditures by women-owned enterprises for just four areas--information technology
($38 billion), telecommunications ($25 billion), human resources services ($23 billion), and shipping ($17 billion)--are estimated to be $103 billion. Between 1997 and 2004, privately-held 50% or more women-owned firms diversified into all in-
dustries with the fastest growth in construction (30% growth), transportation, communications and public utilities (28% growth), and agricultural serves (24% growth).
Page |32
Maconza Is the growth of ventures started by women over the years-justified? Though the number of women-owned businesses has gone up, the receipts from women-owned businesses is still much lower than men-owned businesses. However, women are starting ventures twice as fast as men. This is positive. The conclusion is that performance differences are not a function of skills shortage or lack of competence in managing the business, but are directly attributable to unequal levels of socio-economic positioning in many countries, especially ones like ours. There is inequality right from the support of the family to raising capital. Many ventures still expect a women’s father or husband to sign the document when they want to raise money.
“The myths of entrepreneurship matter because they can be discouraging to anyone who doesn't fit them. But women entrepreneurs are pouring trillions of money into the economy and creating over seven million jobs a year. And they're doing it on their own terms -- which may be the biggest news of all”- Women Entrepreneurs
ing angel capital, 33 percent of those women received angel dollars in 2005, while the overall rate was just 23 percent, according to the study- Research study conclusion What has to be done? There are many things to be done to bring woman to the limelight
Identifying women from all sectors, based on interest and risk taking nature
Educating women on entrepreneurship and helping them create jobs rather than seek jobs.
Making women understand the importance they are going to create and linking them with other factors like social status. Briefing them with the difficulties they might face. They have the right to know.
Training women on various entrepreneurial activities.
Encouraging women to pen down B plans and evaluating them. Give timely inputs and suggestions to bring the venture to reality.
Monitoring their progress and guiding them in all stages
Shattering Stereotypes, US Weekly
A recent study from the University of New Hampshire Center for Venture Research shows that women outperformed all entrepreneurs in receiving angel investments to fund their business ventures in 2005. Although women-led ventures accounted for 8.7 percent of the entrepreneurs seek-
Steps are being taken to bring out the women entrepreneurship in India. Entrepreneurship cells in B-Schools can help a lot in encouraging young women take up entrepreneurship.
But the numbers don't say much. Only time can tell! Page|33
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Macon Column
CROSSROADS- BEAT THY OWN SELF!!!
One of the events of Macon in Trishna 2010 By Shilpa Jacob Crossroads was an event that created much curiosity and intrigue in Trishna 2010. The success of the event not only added a feather to the hat for MACON but also proved to be a great learning experience for all the Maconites involved in conceptualizing and organizing the event. Crossroads was a game designed to test the participants’ skill in strategizing and decision making. The game was a reflection of an individual’s life and the daily choices that he needs to make. We always try to make the right choice and play safe in life, but what is important is whether it is an intelligent choice. Crossroads challenged the participant to think out of the box and take that bold stride to break free from the vicious circle of monotony. The tag line –‘Beat thy own self’ could not have been more befitting. Crossroads started with around 20 teams participating in the initial round. In this round, each team was asked to play a ten minutes game called KLICKSTART on a laptop. It took the teams through a virtual entrepreneurial journey .It proved to be an apt precursor to the final game. The top six teams with the highest scores proceeded to the final round. The final round kick started with the opening of the wheel of cross-
roads which determined the luck of the participants and guided them to their best or the worst decisions. Baby, Doodads and Charity options in the wheel made the participants crease their forehead as they had to bear these expenses in the game. The participants found the game absolutely gripping and enjoyed it thoroughly. The team from MANAGE Institute, Hyderabad emerged as the winner, with the team from IBS Hyderabad coming second. Crossroads proved to be a great challenge to the participants, but even more daunting a task to the Maconites involved in materializing it. The herculean task of devising the game, implementing it and marketing it the right way was all well managed with the constant support and guidance from the senior team. The game sought us to raise the bar for ourselves and we did. Macon also organized a B Plan competition , which is the flagship event of Trishna and offers the highest prize money as compared to all the other events.
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Maconza
Macon Column
We are happy to inform you that Macon has been adjudged the “Best Managed Club� for Trishna 2010.
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