ENTREPRENEURSHIP

A KEY FOR
-By
Cell,
ECONOMICEntrepreneurship
GROWTH
Velammal Institute of Technology,
Chennai

Economy of Indiaistheseventh-largestintheworldby
nominalGDPandthethird-largestby
purchasingpowerparity(PPP).
Ourcountryclassifiedasnewlyindustrializedcountry,one
oftheG-20majoreconomies,amemberofBRICSanda
developingeconomywithapproximately7%averagegrowth
rateforthelasttwodecades.
India'seconomybecametheworld'sfastestgrowing
majoreconomyfromthelastquarterof2014,replacing

Indiahastheoneoffastestgrowingservicesectorsintheworldwithannualgrowth
rateofabove9%since2001,whichcontributedto57%ofGDPin2012-13.
India has capitalized its economy based on its large educated English-speaking
population to become a major exporter ofITservices,BPOservices, andsoftware
serviceswith$167.0billionworthofserviceexportsin2013-14.
It is also the fastest-growing part of the economy.The IT industry continues to be
thelargestprivatesectoremployerinIndia.
Indiaisalsothefourthlargeststart-uphubintheworldwithover3,100technology
start-upsin2014-15.
TheagriculturalsectoristhelargestemployerinIndia'seconomybutcontributesto
adecliningshareofitsGDP(17%in2013-14).
Indiaranks secondworldwide in farm output.[5]TheIndustrysector has held a
constantshareofitseconomiccontribution(26%ofGDPin2013-14).
TheIndianautoindustryisoneofthelargestintheworldwithanannualproduction
of21.48millionvehiclesinFY2013-14.[45]
India has $600 billion worth ofretail marketin 2015 and one of world's fastest

India's two major stock exchanges,Bombay Stock ExchangeandNational Stock

Exchange of India, had a market capitalization of US$1.71 trillion and US$1.68
trillion respectively as of Feb 2015, which ranks11th & 12 largestin the world
respectivelyaccordingtotheWorldFederationofExchanges.
Indiaalsohometoworld'sthirdlargestBillionairespoolwith97billionairesin2014
andfourthlargestnumberofultra-high-net-worthhouseholdsthathavemorethan
100milliondollars.
India is a member of theCommonwealth of Nations,theSouth Asian Association
forRegionalCooperation,theG20,theInternationalMonetaryFund,theWorldBank,
theWorldTradeOrganisation,theAsianInfrastructureInvestmentBank,theUnited
NationsandtheNewDevelopmentBRICSBank.

 The BOSS !!!!

The Business
Owner
The Risk Taker
One Who Starts A
New Business
The Resourceful Guy

French Word Origin

Entrepreneurshi

According to George Glider

From The Spirit of the Enterpris

It is making the World foreve

It is taking AGGRESSIVE Actio
According to Joseph Schumpeter

It is destroying the old orde

and creating new ones.

The Entrepreneurial
Mindset

Opportunity Seizing

Opportunity Screen
Opportunity Seeking

-In a Business
Sense, it is an
Idea that has
Commercial
Potential.
-Something you can make money w
develop a business around it,
or create value with it.

MASTERIES FOR AN
ENTREPRENEUR

Traits of An
Entrepreneur: Ds

Dream
Determined
Details
Dollar
Decision
Doer
Distribute
Destiny
Devotion
Dedication

Traits of An
Entrepreneur: Fs

Founder
Faith
Focused
Frugal
Fast
Fun
Flexible
Flat
Forever
Improving

FORMS OF
ENTREPRENEU
RSHIP
Social Entrepreneurship
Business Entrepreneurship

Techno Entrepreneurship

Compelling Reasons Why

Do We Need
Entrepreneurs???
90% of the Worlds Jobs are Created
By Entrepreneurs.
Problem Solvers
Source of New Products and Innovation.

Its the Entrepreneurs- not the Central Ban

- that keeps the ECONOMY moving.

THREE COMPETENCIES OF THE

COMPLETE ENTREPRENEUR

IN
N

R
RE
PI

Operator

S
IN

OV
AT
O

Originator

IMPLEMENTER

Organizer

THE LAST
WORD!!!

DID YOU

KNOW

Life is
about

Creating
Value

Taking calculated
risks

Realizing
your

Listening to
your heart
.

So is

Entrepreneur
ship

Why
are
Entrepreneurs
Unique ??

Coz

Some defined
their lives..

Some

changed the

Some changed
country

their

Some are in

schoo

Anshul Samar
Age: 13
Does homework regularly
Plays computer games
Fights with his sister

also an entrepreneur
Anshul Samar
CEO, Elementeo
www.elementeo.com

Some are in

college

Mark Zuckerberg
Age: 22
Hangs out with girl
friends
Stays in a rented
apartment

also an entrepreneur
Mark Zuckerberg
CEO, Facebook
www.facebook.com

Some sold

garbage

Still became

Szaky
Age: 23

CEO, TerraCycle
(www.terracycle.net)

Selling Plantfood taken from

garbage
Revenue: ~$5 million

Some started at

Home

Jared Isaacman
Age: 22

CEO, United Bank Card

Revenue: $58 million
Manages 45,000 clients

Some saved

Lives

Elizabeth Holmes
Age: 21
CEO, Theranos

(www.theranos.com)

Deals with Nanotech &

Microfluidics
Saves lives from adverse drug
reactions

Some from Velammal too

Shri M.V.Muthuramalingam chose

to serve the society by providing
education
and
established
Velammal Educational Trust. He
believed that knowledge is the
core strength of the society.
Velammal Institutions follows this
philosophy and is serving the
society in its own humble way
and endeavours to be ' a perfect
educator'.

Our Chairman
B.E., Civil Engineering
Velammal Educational Trust.

Velammal Educational Trust, which

started with an initial intake of merely
183 students and 13 staff in 1986,
today
has
more
than85,000students on its rolls
and8,000staff members.

Mr. M.V.M

The growing strength of students has

created a need for more teachers and
supporting staff and the selection is
being done very scrupulously. Highly
professional
administrative
staff
forms the bridge between the parents
Velmurugan and the institution, upholding the
belief of the trust in ethical practices.

Chief Executive Officer

Velammal Educational Trust.

Mr. M.V.M Sasi Kumar

Director,
Velammal Educational Trust.

Mr. M.V.M Velmohan

Correspondent,
Velammal Educational Trust.

Moorthy G
Ph.D., ( Composite Materials)
Startup
Conquer Technologies,
Kolathur, Chennai

So what
NeXt ?

Wanna join
the

elite league
of

ntrepreneurs ??

If so

Keep
em
Open

Plan

Organiz

Create
a
Team

Take that big step

forward

We help you do
that and a lot
more

The
critical

ingredient
is

getting off your butt and

doing something.

It's as simple as
that.

Else.
.

DSMJFY*
or
NJOG

DSMJFY: Doing the

same monotonous
job for years.
NJOG: No Job only
gaming

Join the league

of

Introduction to
Entrepreneurship

Unlocking the Secrets of Wealth Creation

September 23, 2016

A. General Concepts

The ENTREPRENEUR

Our common understanding

The boss
The business owner
The risk taker
One who starts a small
business
The resourceful guy?

No single definition

French word origin

Entependre an
undertaker

For this course:

Walt Disneys definition
.to do things and make
things which will give
pleasure to people in new
and amazing ways. .It is
magic!

*From the lecture given by Larry Farrel at SBMA, August 7,

2002 and at UAP, October 30, 2009.

Walt Disney and

entrepreneurship

Simply amazing!
Magical

Entrepreneurship involves:
MAGIC soft issues
LOGIC hard issues

According to George Gilder from The Spirit of the

Enterprise*

It is making the world forever new.

It is taking aggressive actions.
According to Joseph Schumpeter -*

It is destroying the old order and

creating new ones.

*From Business as a Calling by Michael Novak

It
is
about:
NEW:
Business ideas
Products
Processes

ENTREPRENEURSHIP
A MINDSET
About a forever
innovating mindset

THE THREE MASTERIES FOR

AN ENTREPRENEUR:
Mastery of Self
Mastery of
Opportunity
Mastery of the
Enterprise

Entrepreneurial
Leadership
Enterprise
Mastery
of Self

Mastery
of
Organization

Corporat
e
Corporate
Leadership

Aspects of SelfMastery

Traits of an Entrepreneur Ds and Fs

Is it better to drop out?

Is it better to get F as a
grade?

Ds

Dream
Determined
Details
Dollar (Peso, in our
case)
Decision
Doer
Distribute
Destiny
Devotion
Dedication

Fs

Founder
Faith
Focused
Frugal
Fast
Fun
Flexible
Flat
Forever Improving

Anatomy of the
Entrepreneur
TheEntrepreneurial
Entrepreneurial
The
MindFrame
Frame
Mind

TheEntrepreneurial
Entrepreneurial
The
HeartFlame
Flame
Heart
TheEntrepreneurial
Entrepreneurial
The
GutGame
Game
Gut

Anatomy of the
Entrepreneur

What lies
behind us,
what lies
before us,
is nothing
compared
to what lies
within us.

WISDOM

HEART
GUTS
HANDS

Self Analysis:
Gifted minds
Steely Guts
Ability to intuit
Courage

Patriotic Hearts
Hands that truly care
Do I possess all of the above?

The Entrepreneurs
Brain
Let us do a brain
surgery

I have 4
brains:
left cerebral,
left limbic,
right limbic,
Right cerebral.

The HBDI developed by Hermann

yielded a brain dominance profile
Logical
Factual
Critical
Technical
Analytical
Quantitative
Interpersonal
Kinesthetic
Emotional
Spiritual
Sensory
Feeling

PREFERRED SUBJECTS
Arithmetic
Algebra
Calculus
Logic
Science
Technology
Finance
Programming
Accounting
Technical

A
B

Management
Production

Arts
Geometry
Design
Poetry
Architecture
D Marketing
C Social Sciences
Psychology
Dance
Drama
High-Skilled Sports
People-Management

PREFERRED PROFESSIONS
Lawyers
Engineers
Computer Systems Analysts
Financial Analysts
Technicians
Physicians
A
D
Statisticians

Entrepreneurs
Explorers
Artists
Playwrights
Scientists in R&D
Advertising
Composers
Jazz Musicians

Bureaucrats
B
Administrators
Bookkeepers
Planners-Programmers
Elementary Teachers
Policemen
Cashiers
Production Supervisors
Maintenance People
Classical Musicians

Guidance Counselors
Public Relations
Nurses
Social Workers
Entertainers
HRD
Salesmen
Priests

Cerebral

Left mode

Right mode

CEOs
male or female
Limbic

Cerebral

Left mode

Right mode

Entrepreneurs
Limbic

B. Forms of
Entrepreneurship
1. Social Entrepreneurship
2. Business Entrepreneurship
3. Techno Entrepreneurship

1. Social
Entrepreneurship

1. Social Business Mix

NGO
(non-profit)

NGO
(for-profit)

Social
Enterprise
Social
Business

Business
Enterprise
CSR

Profit
Maximizatio
n Business
(PMB)
Business
Enterprise

Social Entrepreneurship
Any creative and innovative
solution applied to solve social
problems (Mohammad Yunus,
2007)
It involves social mission
Profit and/or entrepreneurial processes

Banker to the poor

Social Entrepreneurship
Search for approaches to move poor
people out of poverty beyond
welfare-based safety nets.
No more charities
Sustainability
Profits for non profits

Social Entrepreneurship
CSR corporate social responsibility
CSV corporate shared value
Human Nature

Social Business
The triple bottom line
PEOPLE
PROFIT
PLANET

BOP Bottom of the Pyramid

BOP Bottom of Pyramid

A-B
9%
C 20%

Above poverty
threshold

D-E 31%

F 40%

Living on less
than $2 per
day
Living on less
than $1 per
day

 Mother
Teresa did
what no other
person has
done before
to take care of
the poor,
destitute and
lepers

 Lance
Armstrong
7 times Tour de
France champion
His real victory is
with the LAF
where he helps
hundreds of
cancer victims

 Sir Edmund Hillary was

first to conquer Mt.
Everest

 Sir Edmund Hillary came back to

Nepal and helped the Sherpas
improve their living conditions.

Mohammad Yunus

Taught Developmental Economics at

the University of Chitagoong in
Bangladesh.
Economics, right at the outskirt of the
University, poverty was everywhere.
He found out that all that was needed
by the poor was a loan of 27 chakas.
Thats how the Grameen Bank started.

Why are they entrepreneurs?

They had little

or no resources
at all but they
survived and
achieved what
they wanted in

2. Business
Entrepreneurship
Business for profit

Business Entrepreneurship
Its about the study of systems,
structure, and staffing to make a
large corporation stay competitive,
innovative, and profitable on a
sustainable basis.

The business cycle according to Larry Farrel intl expert on

entrepreneurship

Growth

Start

Decline

Survival
/
Failure

ENTREPRENEURIAL

MANAGERIAL

No longer excellent!...
In 1983, there was the book In Search of
Excellence by Tom Peters and Waterman.
It sold 6 million copies. Then...

Something went wrong...

 33% of the Excellent Companies

vanished
Too big to fail companies
Where are they now?:
Washington Mutual
Bear Stearns
Pacific Bank
Banco Filipino

Vanishing giants
Dinosaurs of the corporate world

ENTREPRENEURIAL
COMPANIES

Keeping the Sense of

Mission alive as you grow
Re-instilling
customer/product vision in
every employee
Fostering high-speed
innovation
Making self-inspired
behavior the organization
standard

BUSINESS
ENTREPRENEURSHIP
Entrepreneur (Self)

IDEA

Resources

TIME

REALITY

Opportunity

Growth

Differentiation

Strategic direction

Three Competencies of the

Complete Entrepreneur

OPERATOR

r
ire
sp
in

in
no
va
to
r

ORIGINATOR

implementor

ORGANIZER

Compelling Reasons
Why We Need Entrepreneurs
90% of the worlds jobs are created by
entrepreneurs
Source of new products and innovation
In the third-world countries, the
entrepreneurs keep the sagging
economies alive
Its the entrepreneurs not the central
bank that keep the economy moving
Finally...

...in the Philippines

Its not GMA nor the government that

was responsible for sheltering the
Philippines against bad times.
GUESS WHO?!

 In the GEM report of 2006-2007, RP

is No. 2 in the world for
entrepreneurial activity.
Peru is No. 1

RP is a HOTBED OF
ENTREPRENEURSHIP!
4 out of 10 adult Filipinos are into
business
Highest in Northern Luzon 54%
Lowest in Metro Manila 30%
In the early stages, it is highest in
Mindanao, at 73%

Entrepreneurship in the Philippines: Issues

from a Global Perspective

Other
trivia:
Battle of the sexes:
51% of all businesses
are started by women
55% of all businesses
are run by men
Of the nascent
businesses, 60% are
run by women

Entrepreneurial ION
(Process)
InspiratION (idea)
AmbitION
PassION

PerspiratION (past jobs)

RecreatION (hobbies)

Idea FruitION

FrustratION (what pisses you

off)
Enterprise
CreatION

Sea of Opportunity

Is Entrepreneurship easy?
We choose to go to the moon in this decade
and do all the other things to get there, not
because they are easy but because they
are hard, because that goal will serve to
measure the best of our energies and skills,
because that challenge is one we are willing
to accept and we are unwilling to postpone,
and which we intend to win and others too.
-- JFK, 1962

So you want to be a billionaire

Put your name here:

__________________________________
THE NEXT MILLIONAIRE / WINNER