PREFACEThis mentored study provides a strategy framework for managing new, entrepreneurial high-technology businesses. The emphasis throughout is on the development and application of conceptual models, which clarify the interactions between competition, patterns of technological and market change, and the structure and development of internal firm capabilities. The concept of ‘Entrepreneurial Studies have changed in nature & content over the years.

Through this mentored study I came to know that it is the entrepreneurs who have been largely instrumental in forming a strong link between agriculture & industry. The entrepreneurs with their vision & innovative qualities lay down a strong foundation for sustainable growth, be it the industry, agriculture, trade or the service sectors.

I have immense pleasure in presenting to my esteemed faculty the mentored study in entrepreneurship. The report consists of how the successful new business ventures & economic development do not just happen. They are the result of the combination of right environment, planning, effort, & innovation.

In this study we will also learn about the growth of entrepreneurship which is largely depends on the effective policies & their efficient implementation. An effective organization, sound planning, proper coordination of business activities & rational decision-making are the important aspects of entrepreneurship management.

The purpose of this study is to describe the essential features of an entrepreneur & entrepreneurship to provide a sense of direction for planners and policy-makers, on the one end, and the emerging crop of young entrepreneurs, to reap immense benefits & decide the future course of action, on the other.

The present study is not only creative, but also cohesive & integrated. It will assist in right policy formulations with an eye on an ideal environment for entrepreneurial development in India. It will offer young entrepreneurs a rich fare of stimulating ideas, a new vision & challenging insights. The study will assist in accelerating & steering the process of economic growth in the right direction.

ACKNOWLEDGEMENT

I am grateful to those who have helped me in compiling the matter of this study. While I take this opportunity to thank all of them. I would like to acknowledge my deep sense of gratitude to MR. SANJAY GUPTA for his ungrudging help at all stages and also for giving me permission for writing a case study on him & do the necessary research work.

I take this opportunity to express my sincere appreciation & gratitude to Dr. Anjani Kr. Singh [HOD of MBA(E&L)] for reading this case study carefully & suggesting changes to make it more crisp, lucid & informative.

I will be falling in my duty if I do not mention here the tremendous co-operation I received from my parents in the completion of this work.

APURV MITTALMBA(E&L) CLASS OF 2010

To Whom It May Concern:

This is to justify that Mr. APURV MITTAL of MBA (E&L) CLASS of 2010, Amity Business School, Amity University has done a case study on me as a part of MENTORED STUDY IN ENTREPRENEURSHIP- I.

The case has been prepared by authentication to the best of my knowledge. I am allowing Mr. APURV MITTAL to publish the case or use any data given by me for further study.

With regards,

Mr. Sanjay GuptaChairman,VINRAM EXIM PVT. LTD.

CONTENT

VINRAM EXIM PVT. LTD.Mr. Sanjay Gupta

Profile of Enterprise:

Type of enterprise: FABRIC PRINTING

ADDRESS: B-119, sector- 64, Noida

Email:- sanjayrainbow@yahoo.co.in

Year of establishment: August, 2007

No. of employees: 30

Capital : 6 crores

Target customers: Designers, export houses, etc

REGISTERED OFFICE: B-119, sector- 64, Noida

YEAR OF REGISTRATION: AUGUST 2007

TYPE OF FIRM: PRIVATE LIMITED

NO. OF PARTNERS: 2

PARTNERS: MR. & MRS. SUNIL GUPTA

ORGANIZATIONAL CULTURE: FAMILY

HOW THE IDEA WAS GENERATED?

Idea is a plan formed in the mind. We can also say that idea is an image existing in the mind. There was an idea in the mind of MR. SANJAY GUPTA. He wanted to diversify from his current business that’s why he started the business in fabric printing. He was not having any experience in this field. One thing he knew that is PRINTING. As everything need printing and printing industry is the largest industry of the world. His previous business was related to printing, he used to manufacture computer paper & carbon paper. He had only diversified his line. He is now printing on fabrics. There is less number of fabric printers in India which inspired him to start the enterprise. As first mover get the advantage.

This was the idea, now we shall discuss how the idea came….

He visited HOLLAND for seeing INTERNATIONAL GARMENT EXPO in 2006 where he saw the machine which prints on fabric at a good speed and also better quality then other digital machines. The spark of this business turned into fire when he surveyed that there is lot of future scope in digital printing as this field is quite vast and there is endless number of jobs in it. He imported the machine from HOLLAND in JULY’07 and his business started in AUGUST 2007.

Fabric printing company supply digital textile printing and fabric print services to designers, manufacturers and consumers. This machine can save time and money and receive the quality you need for all your fabric sampling and short-run production needs. Machine can print on a wide variety of textiles -- in a fraction of the time and cost of traditional strike-offs and short-run production.

MOTIVATION

MR. GUPTA has seen the scope of expansion in this field that was the biggest motivating factor to structure this organization. He has contacted many designers because his business is totally dependent on them. Better the design, more the customer. He has told me certain benefits of digital fabric printing which motivates him to start the enterprise:-

1) It permits customers to control the design and printing process from remote locations. That means customer sitting from his home can check the designs of the printer and he can know the status of his job.

2) The digital printing saves the time of the customers as well as of printers as it virtually eliminates the expense & time of screen printing preparation which used to take long time.

3) It has also eliminated color registration of plates & screens which were used before and in that quality was not there due to the use of these items.

4) It has enabled the printer to give the job on time or before the deadline as it is said by LATE DHIRUBHAI AMBANI that "Meeting the deadlines is not good enough, beating the deadlines is my expectation." He can make Just In Time (JIT) delivery & Quick Response possible as customers will give more orders

5) Digital printing machine has reduced lot of burden of printer as need for inventory has become less. Now no more stock is needed. Mr. Gupta told me that in this the risk is reduced by great percentage as he doesn’t have to store anything apart from ink & fabric.

6) Mr. Sanjay says that by using this machine he is not afraid that his designs can be stolen in the market as production speed is high and before anybody can use it, his designs are already in the market.

7) He has surveyed that by use of this machine fashion seasons are increased if he provides better designs then his competitors then he will survive in the market.

8) He said that this machine prints directly from easily stored, transmitted & transported files which motivate him to start the venture.

9) With the set up of digital machine he gets the advantage of space as the machine reduces the space necessary for archiving art, films, plates & screens.

10) This machine is more cost effective then the analog printing method as it does not require time wastage on proof, which used to take weeks and number of steps is also less and he can focus on his product development.

11) This machine permits customization & personalization which helps in increasing customer base and also changing each print on the fly does not increase costs substantially.

12) It allows for design correction & modification at any time without significant schedule delays or cost increases.

13) It also has reduced the over-run waste which analog volume-print pricing promotes.

14) It eliminates the design & process distortions associated with on-contact analog printing.

15) Mr. Gupta is nature friendly which motivated him to purchase this machine, as this machine is cleaner, safer & generally less wasteful & less environmentally hazardous than analog textile printing methods.

16) Lastly but not the least, this machine can free up production printers from the sampling process thus increasing their productivity on products that can make the printer money.

The above points were told by Mr. Sanjay Gupta, these were the reasons which motivated him to start a new venture named VINRAM EXIM PVT. LTD. This enterprise deals in fabric printing.

BACKGROUND

MR. SANJAY GUPTA is B.E. (ELECTRONICS) from PUNE UNIVERSITY. He completed his graduation in 1994 after which he retuned to Varanasi.

He was willing to do job but his parents did not allow him to do so. He established the manufacturing plant for ink which is used in offset printing machines. The name of the company was M.B. Organic. He has to shut down the firm, in 2005, due to increased competition as the foreign ink manufactured entered Indian market and was offering their product at the price lower then Indian product.

In 1997, he established manufacturing plant for computer paper & carbon paper. The type of enterprise, he set up was 1st in Eastern U.P. This firm is still running and is now managed by his elder brother Mr. Sunil Gupta.

In March 2007, he shifted to NOIDA where he purchased a land in sector 64 and started a new business, totally different from his previous businesses, fabric printing.

He shifted to Noida because from the year 1995, after his completion of graduation, he wanted to establish his enterprise in Noida, but at that time his parents did not allow him to migrate but his willingness to do something brought him here. He thinks Noida is good for business. For entrepreneurs environment is quite healthy.

CHALLENGES

CHALLENGES at the time of START-UP

The biggest challenge he faced during the initial stages of the start-up was that he was having no experience in the field of fabric printing; it was totally new for him. There are well established firms in the country which gave him tough competition to him but his will-power and great marketing skill helped his roots to hold the ground. He is a good orator so he is able to convince his customers.

Also to get a good designer was also a biggest challenge, as his business depends on the good designs. If he provides his customer with better design then competitors then only he could have survived in the market.

PRESENT CHALLENGES

NOW, he has a threat of new entrants that too foreigners. He has suspected that foreign companies are going to enter in this fabric printing line which will increase the competition. Since he is related to job work so he has to positively satisfy the customer needs and fulfill their demand on time.

INDUSTRY SCENARIO

AT THAT TIME:

Indian Textile industry is one of the major industries that plays vital role for exports and foreign revenue.

The share of Textile Industry to country’s total exports is 16.63%. India’s contribution in global textiles and apparel market is 3.9% and

3 % respectively. The major sectors for exports are: Readymade Garments, Cotton

Textiles, Textiles made from Man-Made fiber, Wool & Woolen Goods, Silk, Handicrafts, Coir & Jute.

Exports in 2004-05: US $ 14 billion Exports in 2005-06: US $ 17 billion and registered 22% growth. Textile exports are increased by 11.43 % in rupee terms.

CURRENT SCENARIO:

The current market's demands are changing from volume purchasing for the lowest possible cost to timely purchasing. These trends favor digital printing's capabilities and advantages, and offer the promise of satisfying these new market demands. Any comparison of analog and digital capacities must also consider customer demand that makes capacity pertinent. Since retail industry buyers increasingly want to reduce inventory, risk, and response time from design to delivery, print providers will necessarily concentrate more on producing shorter runs with rapid turnaround than larger volumes at lower prices. Indeed, we see the opening of new channels and are pleased to provide digital textile printing.

There is a great demand for rich brocades and zari work. The repertoire of saris ranges from Banarsi Amru, Tanchoi from Surat, Paithani, Patola, and

Kancheevaram to the cotton saris from the tribal regions of Bihar and Madhya Pradesh etc, to enchant the modern Indian woman. There is a profusion of materials available to the consumers these days. One can get a variety of garments made of different silks and mixed fabrics.

Products like bed sheets, table mats, napkins, household furnishings etc made out using the various styles of textile printing ranging from tie and dye, block printing, hand printing etc are in great demand now a days.

FUNDING

AT THAT TIME:

The loan was sanctioned by SIDBI- Varanasi. As SIDBI help the entrepreneur to manage his business more effectively and achieve rapid growth in internationally competitive environment & also provide Indian Small enterprises not only with fund support but also information and market access. He is paying interest at the rate of 11% p.a.

NOW:

This year his company had a profit of Rs. 1, 67,234 so he is not shortage of funds as there are no creditors as well as debtors. He had made payment to all the creditors except SIDBI and the debtors have null balance.

COMPETITION

IN 2007,

At the time of start-up the company has to offer a wide range of solutions to meet the various requirements of the customers.

The team of Mr. Sanjay Gupta has experimented with a wide range of textiles and technologies to gain expertise in advanced design and sophisticated production techniques as he was new to this field. While developing creative new design aesthetic, they have redefined both form and function of digital printing products.

To cope up with the environment they used production methods that influence both the design aesthetics as well as styles. With the use of latest digital fabric printing technology they have redefined the printed textile design. He conducted quality digital textile printing, where there is no limit on the use of colors and designs. Scanned images from the pieces of art, photos and designs with multiple colors and grading are printed with utmost precision. There are also no limitations on minimum production quantity. With these techniques they have able to meet the competition at initial stage.

IN 2009,

NOW, he has created monopoly in the market. As he was the 2nd in NOIDA to start this type of enterprise and now he is giving superior quality to his customers and he has got the team of experts. He is using latest technology & customized printing and offering competitive prices to his customers so that brand loyalty can be maintained.

Now they are able to meet the successful execution of bulk as well as small orders.

EVOLUTION OF BUSINESS ENVIRONMNET

Although rotary screen printing offers many benefits, there are also several important drawbacks to this type of textile printing. One of the biggest drawbacks is machine efficiency (downtime). A pattern setup can take up to one hour, and clean up can take 1 to 2 hours. Due to lengthy pattern changes and printing problems, the typical print machine runs approximately 40 % of the time. Because of this inefficiency, short print runs are not economical. For example, if the setup time and clean up time is a total of one hour, and the print machine operates at an average speed of 30 yards per minute, the printer must print 1800 yards to match printing time with setup time. Unfortunately, print buyers are now asking for one-time runs of 500 yards or less and printers have to refuse the orders. To summarize –printers don’t have enough business because they must refuse the small yardage runs that cannot be economically produced. In addition to the machine efficiency, traditional printing also involves a lengthy and expensive sampling process. Each design is colored, separated into screen files and engraved. Once screens are ready, colors are matched and patterns are “struck-off” on the print machine. With an average strike-off time of 5-6 hours and screen engraving turnaround of 5 – 10 days, the total time design origination to finished product can be several weeks.Mr. Sanjay Gupta has set up 3 digital printing machines mainly due to the trend in average consumer. Consumers of printed textiles are demanding a greater variety of color and design. They want fabrics that express their individuality in their homes and in the clothes that they wear. In addition to these demands, the need for quick order turnaround has never been greater. One of the biggest benefits digital printing provides is the reduction of downtime. Digital printers do not require lengthy setup /cleanup time between patterns and can theoretically print 24 hours a day, 7 days a week, 365 days per year. In addition to increased efficiency, digital printing also provides the elimination of screen cost in sampling and short-run production. Printing without screens eliminates the registration problems and most importantly – allows for mass customization. Designers can make pattern and color changes immediately and print a sample before engraving screens for the final run. On a digital production machine, the printer can produce as little as one repeat of several patterns using multiple color ways, all in a few minutes.

EVOLUTION OF BUSINESS

Mr. Sanjay Gupta had registered the firm on August, 2007 as VINRAM EXIM PVT. LTD. The company have 2 partners:- MRS & MR SANJAY GUPTA. The initial capital was Rs. 2.65 crores. He started the enterprise with 14 employees and 1 digital printing machine.

GROWTH OF BUSINESS

After 18 months he has increased the capital from Rs 2.65 crores to Rs 6 crores and also increased the number of machines from 1 to 3. There is increment in the work force by 16 persons. Now in his organization total of 30 employees are working. He has created a goodwill in the market and also monopoly.

ORGANIZATIONAL STRATEGY

VISION: To become the No.1 fabric printer of India by 2012

MISSION: To produce the highest quality output available on the market today.

STRATEGIC ADVANTAGE: VINRAM is a customer oriented company. The main focus is on the customer satisfaction.

EXTERNAL ASSESSMENT:

COMPETITIVE ADVANTAGE: The customer should buy his service because he is completing

his job before the deadline. He is offering prices lower then his competitors. He knows how to tackle with the consumers demand

SWOT ANALYSIS:

STRENGTHSPEEDLATEST TECHNOLOGY

WEAKNESSNO EXPRIERENCE

OPPORTUNITYTO CAPTURE THE NCR MARKET

THREATFOREIGN ENTRANTS

MARKETING STRATEGY:-

o He wants all his departments to coordinate to support marketing.o He knows branding plays a vital role that’s why he is branding his

product.o He is motivating his employees to promote the product & services

of the firm

FINANCE STRATEGY:-

o He had targeted a long-range financial plan.

o Flexible financial plan

o Performing within a range of financial goals.

PRODUCTION STRATEGY:-o The production process is flexible, fast & responsive.

o The process is cost-effective.

o He has integrated all the departments to support production.

SALES/DISTRIBUTION STRATEGY:-o He has set the goals for all his sales representatives.

o He had kept those persons who have good communication skills.

o He ensures that sales team get with proper information.

HR STRATEGY:-At the time of its birth there were only 24 hands(12 persons) but now its increased to 60 working hands( 30 persons). Within 18 months he has achieved great success. He has founded the people by giving the advertisement in the newspaper and by taking their interview and Mr. Gupta wants those people in the team:

Those who say-behave-act-MY COMPANY Those who focus on work Those who can share his dream & are driven by it

OBJECTIVES:- To provide better service to his customers .

GOALS:

To increase machines from 3 to 5.

TURNING POINT

Turning point of the firm was at the time of its start up when Mr. Gupta started the company by grabbing the order of Rohit Bal who is India’s number 1 fashion designer.

ORGANISATONAL CULTURE

Organizational culture is the personality of the organization. Culture is comprised of the assumptions, values, norms and tangible signs of organization members and their behaviors.

In VINRAM EXIM PVT. LTD. There is a family culture among the employer & employees. He narrates to me an example that whenever there is any occasion the employees greet him, for instance, there is a VALENTINES DAY, so all the employees give him red rose. It is possible only when there is such type of environment exists.

An Entrepreneurial Organizational Culture (EOC) is a system of shared values, beliefs and norms of members of an organization, including valuing creativity and tolerance of creative people, believing that innovating and seizing market opportunities are appropriate behaviors to deal with problems of survival and prosperity, environmental uncertainty, and competitors’ threats, and expecting organizational members to behave accordingly.

FUTURE PLANS

When it will be time for say good bye to 2009, he will say WELCOME to his new enterprise. He will be opening garment shop for women’s wear, where only those garments will be sold which will be stiched in his new factory and printed at VINRAM. The shop will be named after his daughter ‘PANKHURI’. He has planned to open chain of shops with the same name but in different cities and he will be giving franchisees. The women’s wear such as sarees, lehangas, kurtis, etc will be there.

IF he had given chance to start a carrier again then he will be likely to enter in FMCG line where he wants to launch mineral water, tea, wheat-flour,etc. and also he is planning to start this business latest by APRIL. Lets see and ALL THE BEST for his success.

FIRST CUSTOMER

For every Fabric printer, it’s the dream to work with Rohit Bal, but Mr. Sanjay Gupta got a chance to work with him, as the first customer. He told me about Mr. Rohit.

Rohit Bal is a New Delhi, India based fashion designer. He designs for men and women, and has bridal and evening collections in addition to day-wear and ready-to-wear. Rohit started his career with his brother in 1986, and started his own first independent collection in 1990. Today, his masterpieces are sold at $15,000 and above.

Some of his clients include celebrities like Uma Thurman, Cindy Crawford, Pamela Anderson, Naomi Campbell and Anna Kournikova.

Most of the Rohit Bal's fashion shows in India, New York, Paris, and Singapore are sponsored by The Swatch Group, and he is the brand ambassador for their Omega Watches, since 2001.

Rohit has won many accolades including IFA Designer of the Year in 2001 and 2004. He was recently commissioned to revamp the uniforms for the British Airways South Asian crew. Rohit was also recently credited in the Daily Mail and Hello Magazine for dressing Nancy Dell'Olio at the Asian Woman of Achievement Awards 2005.

Rohit Bal has six stand alone boutiques in Delhi, Bombay and Bangalore as well as selling to the top independent stores across India. He now wants to make his clothes more accessible and affordable, so many more people will be able to buy and wear his clothes. This he says "will make me happy."

Rohit Bal has achieved a lot and has a lot more to get out of the industry. He was selected the IFA Designer of the Year 2001 and 2004 and in the Kingfisher Fashion achievement awards 2001 he was selected Best Designer of the Year. He was approached by Omega for the designation of Ambassador and Khadi Gram Udyog, the largest textile chain in India has

offered him the opportunity to design clothes for the organization. Rohit Bal has his studios in various parts of the country that showcase and sell his designs. He has his boutiques in the major cities like Bombay, Delhi and Bangalore. PROFILE OF ROHIT BAL (FIRST CUSTOMER)

Rohit Bal

BornDecember 18, 1967 (age 41)

New Delhi, India

Nationality Indian

Education St. Stephen's College

Labels Rohit Bal

Awards IFA Designer of the Year in 2001 and 2004

ENTREPRENEURIAL SPIRIT

People and empowerment focused :- He provides opportunities for the youth and unemployed people to exhibit their entrepreneurial potential, by being job creators rather than job seekers. Because he thinks that entrepreneurs are those who perceive opportunities, organize resources to set up and successfully run enterprises. For, entrepreneurial growth and empowerment requires focus on human resources in addition to inducement by finance, infrastructure, etc. Considering that promotion of entrepreneurship is a key to economic growth and primary engine for creating a country’s wealth, many governments of developing countries and economies in transition have renewed their focus on this vital factor of production. Value creation through innovation and change:- He keeps on innovating and also motivates his employees to bring some changes in the working.Hands-on management:- He tries to maintain relationship with employees and wanted to run his business with hand in hand.Doing the right thing.Freedom to grow and to fail:- He motivates his employees to think & freedom to take decision so that they can succeed.Commitment and personal responsibility.Emphasis on the future.

FIRST GENERATION ENTREPRENEUR:

Mr. Gupta is a 1st generation entrepreneur and according to him first generation entrepreneur requires- belief, passion & will to succeed & hunger to grow. He was like the newly born child when he started his enterprise as he was unaware about everything; some problems were faced during the seeding stage

SATISFACTION:

The business man should never be satisfied because when this will happen the chance of expansion will automatically stop…said by MR. SUNIL GUPTA. As he had said earlier that business man should be hungry for his growth, when the business man will be

hungry then he won’t be satisfied. We should keep ourselves busy in work. This nature of business men will motivate them to work harder.

FAMILY LIFE-STYLE:

It all depends on the person how well he manages is time. The family life-style of MR. SANJAY is not affected because he is able to manage the time well. He had put his personal life & professional life separate which enabled him to make a proper balance between these two.

PROFILE OF ENTREPRENEUR:

NAME: Mr. Sanjay GuptaD.O.B.: 16/09/1970GRADUATION: B.E. in ELECTRONICS from PUNE UNIVERSITYYEAR OF COMPLETION: 1994MARTIAL STATUS: MARRIEDCHILDREN: 2HOME TOWN: VARANASI

ADVICE TO BUDDING ENTREPRENEURS:

Mr. Sunil Gupta has said that for the college students or for any person who wants to be entrepreneur should have the following 3 things in him/her:

1) HONESTY2) DEVOTION3) HARDWORKING

Without these no one can succeed in his life. According to him, Honesty is the human quality of communicating and acting truthfully, in accordance with a sense of fairness and sincerity and it has strong positive connotations in most situations and also helps in forming bonds of trust between human relationships. In business relations are very important.

If you are not fully devoted towards your work then it will be very difficult for you to work in this competitive environment. Devotion means you are fully involve in your work with your heart.

The person who is characterized by hard work and perseverance is hardworker. If he is fully devoted towards his work and he is honest towards his employees, family, enterprise, then he will be successful man.

We should not work beyond our values & boundaries.