ENTREPRENEURS COMPETENCY BUILDING

Better Entrepreneur

Better followers

Qualities ofits products

More Demand

High Sales

Huge Profit

Conceptual Framework

• The entrepreneur is an innovator, one that introduces new technologies into the workplace or market, increasing efficiency, productivity or generating new products or services

Manager Vs Entrepreneur

• Manager achieve results by directing• Entrepreneur creates vision• Strong Entrepreneur and Weak Manager • Weak Entrepreneur– Strong Manager

Success Story

• 60 percent of the market share in less two months

• 30 millions users • personal computers applications • $80 Million in first year and • $500 million after three years • Microsoft 14 years

Netscape’s Founders( Jim Barksdale and Marc

Andressen) Four Principles• Living vision of products, technologies

and markets i.e., tightly linked to action.• Hire and acquire managerial experience

in addition to technical expertise.• Build the internal resources for a big

company • Build external relationship

Failure story

• BPL mobile• Standard Motors

Entrepreneur competenciesBehavioral specialists crafted 14 dimensions profile of the entrepreneur

I. Thinks globally

Lakshmi Mittal – born in village-safalpur – Rajasthan – No Electricity- Moved to Calcutta-1960 - 1976 completed his graduation - Commercial studies - started a company “ISPAT” manufacturing steel. Then started another mill in Indonesia – Tremendous demand for steel in the world – Take initiatives and perceptive with foresight . In 1989 bought a steel firm ‘ISCOTT” – Good infrastructure but bad management leads to loss - Iscott was making profits after a decade-Successful acquisitions in many countries- purchased steel plants in Mexico, Canada- Germany, Ireland and Kazakhstan. In 1995 moved head quarters from Indonesia to London, UK. In 2005 he is the 3rd richest person in UK. Networth is $17 Billion pound ie 1,234 lakhs crores.

Behavioral specialists crated 14 dimensions profile of the global leader.

II. Anticipates opportunity

Ambani has been described as the “Wizard” of the Indian corporate sector – Undisputed mogul of the textiles Industry – A lonely clerk in Aden – Self confident and optimistic - Ambani moved from trading to manufacturing by setting up his first textile mill at Naroda in 1966. Tiny unit – four imported warp- knitting machines and dying section – In 2004- Total assert value 90000 crores - now more than 3,35,928 crores. Ability to take quick decisions – implement projects with astonishing speed a head of schedule.In 2010 -7,522 crores of net profit at the rate of growth 46%.

III. Creates a shared vision

“Public responsibility” In 1981 and six of his associates – mere contribution of Rs.10000 – Hard work and perseverance- Infosys – Public, Customers – employees are highly respected – dynamic and innovative company. In 2003- murthy was named “ Asia’s business men of the year. Thailand PM appointed as advisors on IT Field. He and his wife are involved in worthy charities and CSR Total value of the infosys 1,57,644 crores – Dr.A.P.J.Abudul Kalam also suggested for CSR – Creative and need to achieve

IV. Develops and empowers people

Corporate like HUL used to organize EDP-MUL encouraged and implement the autonomy and also adopt Japan style Management – Responsive to suggestions and Criticism

V. Appreciates cultural diversity

Top level executives must acknowledged foreign bloods and accept their job position. Bill Gates- Preferred Indian – Able to take calculate risk - Trust integrity –sincerity and the like - companies should adopt cross cultural collaboration in order to combat the cultural shock

VI. Builds team work and partnership

C2P2T2 • C2 Commitment-Communication• P2 Purpose and Participation • T2 Trust and Transparency

• In 1907 J.N Tata –London - to raise capital – Failed – not possible – Raised capital from 8000 investors in Bombay – 30000 workers Loyalty – Never closed- 1968 – all enterprises closed for 48 days except TISCO – Preference in employment to employees children no retrenchment policy – take over of Nat steel brand names starts with India- versatile knowledge

VII Shows Technological Savvy

Technological up gradation is the one of the key factors for sustainable growth AKIO Morita –CEO and co founder of Sony Corporation 1955 -AM Transistor Two band Transistor 1957 - FM Radio – 1958 Video tape recorder in 1960- Small screen TV Set 1961. In 2009 – FM Radio walkman, Camera, Mobile and what not – Secret of success – the way they treat their employees – Flexible and able to adapt.

VIII Encourages constructive challenge

TVS has collaborated with Suzuki from Japan for manufacturing of two wheelers. Later TVS has dismantled with Suzuki and started on its own production – Independent minded. TVS 50 is the popular brand in rural market. Venusrinivasan has received the best businessmen award.

IX. Achieves a competitive advantage

In the present competitive world survival is the herculean tasks for the top brass take for instance –HCL founder Shivnadar was born in 1952- Studied engineering – 1968- worked in Delhi clothe Mills. He and six colleagues – started small company “ Hindustan Computers” in a one room in Delhi. His Management Style –delegation decentralization each unit as an independent centre. In 2004 – he was ranked the 126th richest person in the world – NIIT –Computer education – Respond positively to challenges – Bill Gates met privately in 1996.Total value of the HCL Rs.25,761 Crores in 2010.

X. Demonstrates personal mastery

• Showcase the talents and potentials and raise up to the occasion.

• Sachin – set bench mark at the target of Gavaskar.

• P.Chidambaram FM – Education –VDI Scheme Rs.10,000 crores

• Dr. Manmohan Singh – LPG – Professor of Economics – Energetic and diligent

XI. Shares leadershipPsychological support – RahulBajaj – The two Wheeler King world second largest scooter manufacturer – Knowledgeable of markets - 4th largest two wheeler. 80% market share in scooters 34% in two Wheelers- Bajaj prefers to call as colleagues not subordinates – staying in Akurdi –loves to stay in factory. Now it has reached 15,18,000 (2+ 3 Wheelers)

1960 – Volume of sales 6,0001967 – Volume of sales 21,0002008 – Volume of sales 15,18,000

XII. Lives with Values

Ethical practice - corporate stalwarts act as a role model K.K Birla – He declined offer of directorship of RBI and Membership of planning commission- Dedication, extra confidence, aggressiveness and Dynamic leader- reasonable dividends for share holders- lucrative incentives for employees - consumers get good quality at fair price – not profiteer -he took over closed companies along with all employees revamped.

XIII. Ensures customer satisfaction

Customer is king Cavincare division - started a small tiny shampoo – Sachet packing – Resourceful and Persevering – Now net asset values exceed more than 500 crores Ruchi Pickles –Saloon and threatening to MNC’S – Total turnover of the Cavincare Rs.882 crores in 2010

XIV. Embraces change

Followers accept the change learning organizations-Change Management –Constantly watch the market and to cater the need of customers – Able to get along well with others.

AnnamalaiUniversity- Ranbaxy

Emotional intelligence • Self – awareness – recognize emotions –effects on others-strength

and weakness

• Self – Confidence – courage to face any situation

• Self – Management – Can keep their disruptive emotions – Impulses under control – maintain integrity and honesty – Adapt their behaviors to change

• Empathy

• Social awareness – Good understanding others – Active interest on others concerns.

• Social skills – Sense of others developmental needs- inspire and lead groups – Send convincing message

• 80% EQ 20% IQ – Successful personality – Now a days SQ also plays a pivotal role for successful individuals.