PROFESSIONALISMVS.

FAMILY ENTREPRENEURS :

PROFESSIONALISM : PROFESSIONALISM Professionalism is actually the process by which given occupation become professions in the sense of attaining professional status. OR The expertness characteristic of a professional person. ELEMENTS OF PROFESSIONALISM : ELEMENTS OF PROFESSIONALISM ALTRUISTIC ACCOUNTABILITY EXELLENCE HONESTY/INTEGRITY DUTIFUL RESPECT TO OTHER Slide 4: 1.ALTRUISTIC: Showing unselfish concern for the welfare of others 2. ACCOUNTABILITY Responsibility and Reliability Slide 5: 3.EXELLENCE Knowledgeable Skilful Competency to retrieve and handle information Appropriate decision making skills Competency in skills of communication Slide 6: 4. Honesty/ Integrity The quality of being honest Moral soundness Undivided or Unbroken 5. Dutiful Appreciation of the role Aptitude for personal development 6. Respect to others Professionalism in Business : Professionalism in Business Health and Hygiene Personal Image-First Impressions REALLY Count! Appearance and Dress Etiquette and Manners Always use the magic words: PLEASE and THANK YOU Be on time Keep your promises Respect people and be courteous Follow up with thank-you notes Return all phone calls Call ahead to confirm appointments FAMILY ENTREPRENEUR : FAMILY ENTREPRENEUR A family entrepreneurship is defined in terms of: Ownership control by members of a family Strategic influence of a family in the management of the firm Concern for family relationship The dream of continuity across generation PROFESSIOANLISM VS. FAMILY ENTREPRENEURS : PROFESSIOANLISM VS. FAMILY ENTREPRENEURS 1. DEGREE OF OPEN MINDEDNESS: Professional are open minded, receptive to new ideas, ready to experiment. While family entrepreneurs generally lack this. Slide 10: 2. NEW PRACTICES: Include Quality certification, Participative Mgmt., Change in working style, financing pattern. Professional are always leaders in adopting them, experimenting with them. While there is lack of this attitude in family entrepreneurs Slide 11: 3. IMPARTIAL HRM: Professionals do not show partiality towards any particular gender. But family business houses employ their relative or friends or people belonging to same social caste in responsible position. Slide 12: 4.ORGANIZATION ORIENTED FINANCIAL MANAGEMENT: Professionals tend to make financial decision in the way which is best for the organization. But family entrepreneurial firms give first priority to their familiar concern & interests. Slide 13: 5.DECISION MAKING STYLE: The decision making process in professional run organization tends to be qualitative better & vision to be broader. It is mostly participative. While in family run businesses is more autocratic in nature. Here it is mostly owner entrepreneur himself or herself who makes the decision sometimes with the help of his family members or friends.

Every start-up entrepreneur has an overwhelming amount to get done the "to dos" are constantly outrunning the "dones." It is easy to get caught up in the day-to-day and endless hours, and you often forget that running really hard does not necessarily equate with running in the right direction. To paraphrase one of my partners, the good news is that you're making good time, and the bad news is that you're lost. To stay focused, early stage CEOs need to remember that there are just three important things that need to get done in a business 1) planning, 2) selling, and 3) executing and that these tasks require three different mindsets. Some entrepreneurs can excel in all three roles, but the best ones are aware of their strengths and weaknesses and build their teams accordingly. The first step is knowing which role your talents match most closely. The Architect: Big-Picture Planning Entrepreneurs set the vision, the romance, and culture around a big and daring goal. In doing so, they must have a general plan for where they want to go, but they should not get hung up on developing the perfect plan. Their thinking should be like an architect in the concept and design development phase rather than one in the detailed schematic phase. The details of every initiative should change with new customer and market feedback. This is why the best venture capitalists bet first and foremost on the people and second and it's a distant second on the plan. There is no doubt that it's easier to adjust a plan than it is to adjust people. Plans at the start-up stage need a clear purpose and the top few priorities for achieving it, but many other aspects, including product development, have to be viewed as a first direction at this point in time. The Storyteller: Researching and Selling Great entrepreneurs need to be constantly selling the story of their vision, as well as researching how it should evolve. Whether raising funds, evangelizing the vision among employees, recruiting top new talent, or selling the product itself, an entrepreneur needs to constantly pitch like a salesman out of Glengarry Glen Ross and act as the company's chief storyteller. More business schools should integrate the art and science of communications and selling into the curriculum. In my experience, people can learn and develop many aspects of effective selling. Even if they turn out to be only moderately good at it, they realize that by selling on the front lines, they gain access to invaluable customer and product research. These customer interactions help turn a directional vision into one with more precise focus. This is especially true in the digital world where strategies are iterative with more frequent version releases. Selling slightly ahead of the perfect product cycle early can help you test cheaply and make adjustments as required.

The Disciplinarian: Executing Excellent execution comes from adhering to a tight set of controls and operating principles. In my view, the starting point for this is having the right set of operating metrics to measure the progress you are trying to achieve. Across our portfolio companies, we work with CEOs to establish the right big priorities and then set the right operating metrics in a dashboard, which we review at regular intervals. This dashboard might include, for example, customer counts, recurring customers, and online usage metrics. The key to delivering what you want to deliver is to know how to pick the few customer and operating metrics that can serve as leading indicators for the ultimate financial metrics desired. To read more on my thoughts on this subject, see my prior blog entry, The Fallacy of Financial Metrics. Planning, selling, and executing sound straightforward, but playing the three roles at once can be challenging for early-stage CEOs. At times these aspects of the job can seem the antitheses of each other, and few people possess the talent to do all three equally well. Fortunately, you don't need to if you build a strong team. To assess your own entrepreneurial aptitude and effectiveness, take a hard look at your recent tasks, meetings, and other activities. How do they fit into these three buckets? Once you understand which of these areas you are strongest in, focus on the priorities that map to your skills and quickly fill the gaps with the best talent you can find.

Definition of 'Venture Capital'

Money provided by investors to startup firms and small businesses with perceived longterm growth potential. This is a very important source of funding for startups that do not have access to capital markets. It typically entails high risk for the investor, but it has the potential for above-average returns.

Investopedia explains 'Venture Capital'

Venture capital can also include managerial and technical expertise. Most venture capital comes from a group of wealthy investors, investment banks and other financial institutions that pool such investments or partnerships. This form of raising capital is popular among new companies or ventures with limited operating history, which cannot raise funds by issuing debt. The downside for entrepreneurs is that venture capitalists usually get a say in company decisions, in addition to a portion of the equity.

2. What is the VC process?

Meet with one person from the firm--partner or associate. If you can meet a partner up front it's always best but sometimes it's not possible. The first meeting will often by with an analyst, associate or principal. Often principals are allowed to do their own deals whereas associates are not. Associates are good an important people--I discuss this in the video. Still, "call high" if you can.

Potentially several other qualifying meetings before you get to meet the other partners if the person you have met is not yet convince / wants to do more work. If you make it past this stage you will go to a "full partners meeting" which is exactly what it sounds like. In the video I describe how to best play this meeting and why, without a champion going into the meeting, you're unlikely to get an investment. After the partners' meeting you should usually get a pretty good steer on where you're at in the process. If you don't, make sure you follow up and ask for feedback If they say yes you get a term sheet and once this is signed it is usually 3-6 weeks until your legal docs get signed and you're funded.
Presentation Transcript
ROLE OF WOMEN ENTREPRENEURS: ROLE OF WOMEN ENTREPRENEURS PRESENTATION BY S.Alexander M.Arun kumar J.Nikhil kumar

Introduction: Introduction Women entrepreneurs may be defined as a woman or a group of women who initiate, organize and run a business enterprise. In terms of Schunpeterian concept of innovative entrepreneurs, women who innovate, initiate or adopt a business activity are called business entrepreneur.

Areas of Women Entrepreneurs: Areas of Women Entrepreneurs The areas chosen by women are Retail Trade, Restaurants, Hotels, Education, Cultural, Cleaning Insurance and Manufacturing .

Women entrepreneurs in India: Women entrepreneurs in India The Government of India has defined women entrepreneurs based on women participation in equity and employment of a business enterprise . Accordingly, a woman entrepreneur is defined as an enterprise owned and controlled by a woman having a minimum financial interest of 51% of the capital and giving at least 51% of the employment generated in the enterprise to a woman.

Reasons for their marks in business: Reasons for their marks in business They want to improve their mettle in innovation and competitive jobs. They want the change to control the balance between their families and responsibility and their business levels. They want new challenges and opportunities for self fulfillment.

Role of women as an Entrepreneur's: Role of women as an Entrepreneur's Imaginative Attribute to work hard Persistence Ability and desire to take risk Profit earning capacity

Imaginative: Imaginative It refers to the imaginative approach or original ideas with competitive market. Well-planned approach is needed to examine the existing situation and to identify the entrepreneurial opportunities. It further implies that women entrepreneur's have association with knowledgeable people and contracting the right organization offering support and services

Attribute to work hard: Attribute to work hard Enterprising women have further ability to work hard. The imaginative ideas have to come to a fair play. Hard work is needed to build up an enterprise..

Persistence: Persistence Women entrepreneurs must have an intention to fulfill their dreams. They have to make a dream transferred into an idea enterprise; Studies show that successful women work hard.

Ability and desire to take risk: Ability and desire to take risk T he desire refers to the willingness to take risk and ability to the proficiency in planning making forecast estimates and calculations.

Profit earning capacity: Profit earning capacity she should have a capacity to get maximum return out of invested capital.

Functions of Women Entrepreneurship: Functions of W omen Entrepreneurship Exploration of the prospects of starting a new business enterprise. Undertaking a risk and handling of economic uncertainties involved in business. Introduction of innovations, imitations of innovations. Co ordination, administration and control. Supervision and leadership.

Successful Women Entrepreneurs: Successful Women Entrepreneurs Indra Nooyi Kiran Mazumdar-Shaw Priya Paul Naina Lal Kidwai

Indra Nooyi: Indra Nooyi Born 28 October 1955 (age 56) Chennai, Tamil Nadu, India Citizenship United States Alma mater Madras Christian College IIM Calcutta Yale School of Management Occupation Chairman & CEO of PepsiCo Predecessor Steven Reinemund Religion Hindu Awards Padma Bhushan 2007

Kiran Mazumdar-Shaw: Kiran Mazumdar -Shaw Born March 23, 1953 (age 58) Bangalore, India Residence Bangalore, India Education Mount Carmel College, Bangalore University. Occupation Chairperson of Biocon Net worth US$900 million (2010 )

Priya Paul: Priya Paul Priya Paul Born 1967 Nationality Indian Occupation Chairperson [The Park Hotels]]

Naina Lal Kidwai: Naina Lal Kidwai Naina Lal Kidwai is an Indian business executive. She is currently the Group General Manager and Country Head of HSBC India. S he is a chartered accountant by profession, later earned a Bachelors degree in Economics from University of Delhi and an MBA from Harvard Business School in 1982 . Kidwai was the first Indian woman to graduate from Harvard Business School. During 1994-2002, she worked at Morgan Stanley as Vice Chairman of JM Morgan Stanley and Head of the Investment Bank in India.

Conclusion: Conclusion women entrepreneur are those women who think of a business enterprise, initiate it organize and combine the factors of production, operate the enterprise, undertake risk and handle economic uncertainties involved in running a business enterprise.

Definition of Women Entrepreneurs: Women Entrepreneurs may be defined as the women or a group of women who initiate, organize and operate a Business Enterprise. Government of India has defined Women Enterprises as an enterprise owned and controlled by a women having a minimum financial interest of 51 percent of the capital and giving at least 51 percent of employment generated in the enterprise to women. 7.1 Like a male entrepreneur, a women entrepreneur has many functions:(a) Exploring-Starting new Enterprise. (b) Undertaking Risks. (c) Introduction of Innovations. (d) Coordination. (e) Administration and Control. (f) Providing Effective Leadership. The Causes of Poor Performance: The major constraints which Indian Women Entrepreneurs are facing:(a) Lack of Confidence. (b) Socio-Cultural Barriers. (c) Market-Oriented Risks.

(d) Motivational Factors. (e) Knowledge in Business-Administration. (f) Awareness about the Financial Assistance. (g) Exposure to Training Programmes. (h) Identifying the Available Resources. Some factors are explained further:-Womens family and personal obligations are sometimes a great barrier for succeeding in business career. Only a few women are able to manage both home and business effectively, devoting enough time to perform all their responsibilities in priority. Stiff competition in the market and lack of mobility of women make the dependence of women entrepreneurs on middleman indispensable. Many business women find it difficult to capture the market and make their products popular. They are not fully aware of the changing market conditions and hence can effectively utilize the services of Media and Internet. Self motivation can be realized through a mindset for a successful business attitude to take up risk and behavior towards the business society by shouldering the social responsibilities. Other factors are:(i) Family Support. (ii) Government Policies. (iii) Financial Assistance from Public and Private Institutions. (iv) A suitable Environment for women to establish Business Units.

Women entrepreneurs face a series of problems right from the beginning till the the enterprise functions. Being a woman itself poses various problems to a woman entrepreneur, The problems of Indian women pertains to her responsibility towards family, society and lion work. The tradition, customs, socio cultural values, ethics, motherhood subordinates to ling husband and men, physically weak, hard work areas, feeling of insecurity, cannot be tough etc are some peculiar problems that the Indian women are coming across while they jump into entrepreneurship.

Women in rural areas have to suffer still further. They face tough resistance from men. They are considered as helpers. The attitude of society towards her and constraints in which she has to live and work are not very conducive. Besides the above basic problems the other problems faced by women entrepreneurs are as follows: 1. Family ties: Women in India are very emotionally attached to their families. They are supposed to attend to all the domestic work, to look after the children and other members of the family. They are over burden with family responsibilities like extra attention to husband, children and in laws which take away a lots of their time and energy. In such situation, it will be very difficult to concentrate and run the enterprise successfully. 2. Male dominated society: Even though our constitution speaks of equality between sexes, male chauvinism is still the order of the day. Women are not treated equal to men. Their entry to business requires the approval of the head of the family. Entrepreneurship has traditionally been seen as a male preserve. All these puts a break in the growth of women entrepreneurs. 3. Lack of education: Women in India are lagging far behind in the field of education. Most of the women (around sixty per cent of total women) are illiterate. Those who are educated are provided either less or inadequate education than their male counterpart partly due to early marriage, partly due to son's higher education and partly due to poverty. Due to lack of proper education, women entrepreneurs remain in dark about the development of new technology, new methods of production, marketing and other governmental support which will encourage them to flourish. 4. Social barriers: The traditions and customs prevailed in Indian societies towards women sometimes stand as an obstacle before them to grow and prosper. Castes and religions dominate with one another and hinders women entrepreneurs too. In rural areas, they face more social barriers. They are always seen with suspicious eyes. 5. Shortage of raw materials: The scarcity of raw materials, sometimes nor, availability of proper and adequate raw materials sounds the death-knell of the enterprises run by women entrepreneurs. Women entrepreneurs really face a tough task in getting the required raw material and other necessary inputs for the enterprises when the prices are very high. 6. Problem of finance:

Women entrepreneurs stiffer a lot in raising and meeting the financial needs of the business. Bankers, creditors and financial institutes are not coming forward to provide financial assistance to women borrowers on the ground of their less credit worthiness and more chances of business failure. They also face financial problem due to blockage of funds in raw materials, work-in-progress finished goods and non-receipt of payment from customers in time. 7. Tough competition: Usually women entrepreneurs employ low technology in the process of production. In a market where the competition is too high, they have to fight hard to survive in the market against the organised sector and their male counterpart who have vast experience and capacity to adopt advanced technology in managing enterprises 8. High cost of production: Several factors including inefficient management contribute to the high cost of production which stands as a stumbling block before women entrepreneurs. Women entrepreneurs face technology obsolescence due to non-adoption or slow adoption to changing technology which is a major factor of high cost of production. 9.Low risk-bearing capacity: Women in India are by nature weak, shy and mild. They cannot bear the amount risk which is essential for running an enterprise. Lack of education, training and financial support from outsides also reduce their ability to bear the risk involved in an enterprises. 10 Limited mobility: Women mobility in India is highly limited and has become a problem due to traditional values and inability to drive vehicles. Moving alone and asking for a room to stay out in the night for business purposes are still looked upon with suspicious eyes. Sometimes, younger women feel uncomfortable in dealing with men who show extra interest in them than work related aspects. 11. Lack of entrepreneurial aptitude: Lack of entrepreneurial aptitude is a matter of concern for women entrepreneurs. They have no entrepreneurial bent of mind. Even after attending various training programmes on entrepreneur ship women entrepreneurs fail to tide over the risks and troubles that may come up in an organisational working. 12. Limited managerial ability: Management has become a specialised job which only efficient managers perform. Women entrepreneurs are not efficient in managerial functions like planning, organising, controlling,

coordinating, staffing, directing, motivating etc. of an enterprise. Therefore, less and limited managerial ability of women has become a problem for them to run the enterprise successfully. 13. Legal formalities: Fulfilling the legal formalities required for running an enterprise becomes an upheaval task on the part of an women entrepreneur because of the prevalence of corrupt practices in government offices and procedural delays for various licenses, electricity, water and shed allotments. In such situations women entrepreneurs find it hard to concentrate on the smooth working of the enterprise. 14. Exploitation by middle men: Since women cannot run around for marketing, distribution and money collection, they have to depend on middle men for the above activities. Middle men tend to exploit them in the guise of helping. They add their own profit margin which result in less sales and lesser profit. 15. Lack of self confidence: Women entrepreneurs because of their inherent nature, lack of self-confidence which is essentially a motivating factor in running an enterprise successfully. They have to strive hard to strike a balance between managing a family and managing an enterprise. Sometimes she has to sacrifice her entrepreneurial urge in order to strike a balance between the two.