STRATEGY OF MY LIFE

Sec-A
UM14029
MBA 2014-16
Table of Contents
1.

Introduction.......................................................................................................... 3

2.

Road Map............................................................................................................. 4
2.1.

Need Identification...................................................................................... 4

2.2 Idea Generation................................................................................................. 4

3.

2.2.

Idea screening............................................................................................... 5

2.3.

Strategy Formulation and Decision Making....................................................6

2.4.

Idea review.................................................................................................... 7

2.5.

Idea Implementation...................................................................................... 8

2.6.

Whom to Approach?....................................................................................... 8

Conclusion............................................................................................................ 8

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1. Introduction
Before discussing about my strategy of life for about next 20 years, I would like
to brief about my short term and long term goals. I have chosen to take up my
specialization in the field of Systems and want to pursue a career in consulting,
specifically IT consulting. After completing my MBA after 1 year, my short term goal
would be, I want to learn everything I can about different aspects of consulting and
related domain I will be assigned to. I want to find a position where I can contribute
what I have learned through my education and to gain real-life experience. As part
of a team, I would want to add value and continue to grow the company.
In 10 years or so, I want to be in a position of taking business decisions
impacting the performance and profitability of the company. I want to be
responsible for increasingly difficult and important issues and projects. At this point
in my career, I want to be mentoring others with my acquired knowledge and
experience.
After working for about 20 years, I would like to bid adieu to corporate life and
pursue my dream of building a retirement place for aging people in need of a space
for living. In next sections, I will discuss about the strategy to realize my dream.

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2. Road Map
2.1.

Idea Generation

Earlier in my life, I have developed the quality of helping others.

I have been associated with a number of NGOs and an active member
of Red Cross Society. The sense of empathy was the driving force in
nurturing this attitude in me. I see in my country hundreds of thousand
people do not available the basic needs. Some people have enough of
everything and some have few to survive. In one side people waste food on
regular basis. In some other part people even do not get any food.

There has been a rising trend among the urban elderly people
who move out of their homes to the habitats especially catering to
their needs, to spend rest of their life in peace and comfort. Apart from
this, there are many senior citizens who are neglected by their children
and other members of the family. There are some who are issueless
and have none to call their own. A good number of elderly persons
have sufficient income for their living but no relatives to take care of
them in their old age and sickness. These elderly persons get serious
psychological depression. Hence came the idea for this retirement
place.
It will be a home away from home for elderly persons who are in
need of shelter, love, affection, reverence and comforts. The 'Retreat'
will not only provides a roof for senior citizens but also take care of
their basic needs.

2.2. Idea screening

Changing World scenario: The world will have more people who live to
see their 80s or 90s than ever before. The past century has seen remarkable
improvements in life expectancy. Soon, the world will have more old people
than children. The world population is rapidly ageing. Low- and middleincome countries will experience the most rapid and dramatic demographic
change.

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Ageing: The Indian Scenario:

India is one of the few countries in the world where sex ratio of aged is in
favour of males.
Population above 60 years- 10% suffer from impaired physical mobility.
10% Hospitalized at given point of time.
Age more than 70 yearsMore than 50% suffer form 1 or more chronic
conditions like CHD, Cancer etc.
Problems faced by Elderly

PESTEL analysis will help in screening the Idea I have created here.

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Attribute

Summary

Political

Angul is Politically stable and is being ruled by Biju

Janta Dal(BJD) since last 15 years. Since the same
government is ruling in the state it the stability of
the place is well expected.
The last few years has witnessed a steep rise in the
Economy of Angul District, with the setting up of the
various public sector undertakings like NALCO, MCL,
NTPC, JSL, Monate, JSPL and TTPS. The District
Industries Center functioning in the District
promotes its various industrial activities. The district
is the highest revenue generator of the entire state
A place abundant of natural resources, like other
part of the country, it has a strong culture. People
are workaholic and they strive long term growth
and sustainability.
This state is technologically backward. Even today
after heavy industrialization the infrastructure is not
up to the mark, but when we compare the districts
with its counterpart it is a well advanced state.
Considering food grains, there is no surplus
management mechanism. There is necessity of cold
storage and godown for storage of excess crops.
With almost 37% forest land this district has a
unique environment. Overall environment to start
the business is very good here. Districts host a
number of water projects and big river like
Brahamani and Mahanadi, which helps in irrigation.
The climate is also suitable for agricultural activity.
District is located at the center of the state which is
not prone to any natural calamities.
The district is also legally stable. A few minor legal
issues were observed in the past.

Economical

Social

Technical

Environmen
tal

Legal

Indicat
or

From the PESTEL analysis it is very much clear that Angul is a place which is
suitable for starting a business and since the transportation system in the
district is good, the growth can be exponential and there can be export of
agricultural products to other parts of the state and Nation.

2.3. Strategy Formulation and Decision Making

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The ideas are always good until we truly strategize and implement them.
Steps:

Requirements
a) Accommodation Requirements
Rooms
Rooms will be fitted with ceiling fan, decorative lamps, calling bell, bed
switch and plug points. The rooms will have beautiful glass windows
protected with iron grills and covered with curtains. Original paintings will be
displayed in every room.

Bathrooms

Bathrooms will have high glaze tiles and shower, wash basin, good style
commode, towel.

Single/Double Standard Apartments

Each apartment will have its own private lanai, enclosed by a railed balcony.
Residents can bring their own furniture if they want. On the other hand, some
Old
Age
Home
also provides Single bed for each occupant, with coir foammattress,
bed
sheet, pillow with pillow cover, blanket, etc. Among the furniture it can havebed-side table with bed lamp, writing table with chair, almirah with locker,
dressing able, Powder, Comb. Apart from these there can be added music
system, intercom telephone, T.V with cable connection facility etc.

Kitchen

Kitchen counter with Cooking Gas stove, Mixer and grinder.

Wall cupboard for kitchen utensils.
Wash sink.
Aqua guard for filtered drinking water
Separate opening with counter outside the window for transfer of used
utensils for washing away from the kitchen.
Attached Store room.

1. What do I have?

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The basic requirement to start an NGO is place, Labor, Capital.

Land: I have inherited 3-storeyd house from my parents which I will like to
use for this cause.
Labor: In a country where the population is 1.25 Billion, there is always
easy available of labor capital everywhere. The case is same in Angul as
well. We have abundance of semi skilled labor in this area.
Capital: To start a business, capital is the basic requirement along
with Land and Labor. Be it Equipment or cash in hand, Capital plays a vital
role in the business model. This is probably the most decisive step for an NGO. Funds
can be raised through internal sources (membership fees, sales, subscription charges, donations,
etc.) or grants-in-aid from the Government, private organizations or foreign sources. Inflow of
foreign funds is governed by the Foreign Contribution Regulation Act (FCRA) 1976. Many NGOs
are eligible for tax exemptions - be sure to check your eligibility status and file your application if
the exemption applies to you.

2. Where do I want to be
To be frank enough, I do not believe in long term goals. I normally prefer a
short term goal, try to achieve the same and set another goal. The
incremental strategy suits me the best. Hence in the pursuit of a vast
business model, I would like to start with 5 acres of land and grow with
time. In the long run I am planning to diversify my business to agricultural
storage business and organic production business.
3. How do I get there
In the next 5 years till 2020, I am planning to accumulate capital of ten
Millions. The first check point will be in the Year 2020, where I should be
having cash in hand of Ten Millions and a short term loan of another ten
Millions. Precisely I have a plan to invest 20 Million in a land of around 5
acres with around 10 labors by the year 2020. I would plan to grow by a
CAGR of 10% on a lower side and start organic farming by 2025. I would
diversify the business by my own fisheries and storage system by 2030.
With the storage system, I can generate extra revenue by lending the
storage area whenever my production utilization is low.
4. What is the Long term Plan
The long term plan is to set up following additional units along with the
existing farming unit.
1.
2.
3.
4.
5.

Fisheries Unit
Organic Farming Unit
Cold Storage Unit
Storehouse Unit
Self owned retail outlet Unit

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The plan is to develop units one by one and not to include all the units
together. In my opinion, today there has been rise in demand of fresh
fisheries and organic products, and the supply is minimum. We vastly
depend on Andhrapradesh for fish and related product. Hence fisheries
unit can be an added advantage and will be a cash cow in a long run.

2.4. Idea review

Any Idea formulated need an immediate review and this idea is no exception.
I am planning to propose this idea to a panel in Orissa University of
Agriculture and Technology (OUAT). Besides there is always a constant
encouragement from State government regarding the development of
agricultural start up. Government is ready to provide a liberalized interest
friendly loan for equipments. The central government is also ready to provide
subsidy in agricultural sector.

2.5. Idea Implementation

This is the final step and this has to be done in accordance with the comment
by the review committee.
Here is the sequence of activities to be done in the final phase.
Step 1: Selection of Location: A Vital Decision
Step 2: Land and Building: Correct Assessment
Step 3: Select the Right Production Process
Step 4: Government Formalities and Procedures
a)
b)
c)
d)
e)
f)

SSI Registration: Required for the Records

Acquisition of Infrastructure Facilities
Pollution Control Clearance: Obtain NOC or Consent
Constitution of the Business
Arrangement of Finance for Fixed Assets and Current Assets
Government Formalities Need to be Viewed in Proper Perspective

2.6. Whom to Approach?

1. To the existing Farm House owners: what they do (i.e., what kind of
operation they run), how their farms have changed over time, where they
believe their sector is going, and schedule visit some time to their farms.
Farmers are generally friendly, humble, and welcoming people, though
some are more guarded than others.

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2. In farmers markets: a great place to meet farmers, especially farmers that

specialize in a specific form of farming. This is a great place to know the
difficulties faced by the farmers and there damage control plan.

3. Conclusion
Simplicity is really important. To make things simple is the only to solve the
problems in my opinion. Here In this report I have presented my idea of being an
entrepreneur down the line in a motive to help people in my vicinity. However the
way ahead is not simple as it looks. A lot of efforts need to be put to accomplish a
great task in the long run.

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