Entrepreneurship

Unit-1

Entrepreneurship

Contents:

Content no. Topic Page No.

1.1 Introduction - entrepreneurship 1-2
1.2 Entrepreneur 2-3
1.3 Competencies and characteristics of an entrepreneur 4-5
1.4 Functions of an entrepreneur 5-7
1.5 Classification and types of entrepreneurs 7-10
1.6 Problems faced by Entrepreneurs. 10-12
1.7 Advantages for entrepreneurs from entrepreneurship 12
1.8 Women Entrepreneurship 13
1.9 Challenges and Problems faced by Women Entrepreneurs in India 14-15
1.10 Developing women entrepreneurship 15-16
1.11 Success stories of women entrepreneurship – case study 17-19
Reference 19

1.1 Introduction:

Entrepreneurship
Entrepreneurship is the art of starting a business, basically a startup company
offering creative product, process or service.

Entrepreneurship can be described as a process through which an entrepreneur seeks

innovation and employment.

Entrepreneurship comes from a French word ‘Entrependre’ and the German word
‘Uternehmen’ both meaning individuals who are ‘undertakers’ i.e those who took the risk of
a new enterprise.

Entrepreneurship is a dynamic activity which helps the entrepreneur to bring changes in the
process of production, Innovation in production, new usage of materials, creator of market etc.

Importance of Entrepreneurship:

1) Creation of Employment-

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 Entrepreneurship generates employment. It provides an entry-level job, required
for gaining experience and training for unskilled workers.

2) Innovation-

It is the hub of innovation that provides new product ventures, market,

technology, and quality of goods, etc., and increases the standard of living of the people.

3) Impact on Society and Community Development-

A society becomes greater if the employment base is large and diversified. It

changes society and promotes facilities like higher expenditure on education, better
sanitation, fewer slums, and a higher level of homeownership. Therefore,
entrepreneurship assists the organisation in a more stable and high quality of community
life.

4) Increase Standard of Living-

Entrepreneurship helps to improve the standard of living of a person by

increasing the income. The standard of living means, increase in the number of
consumption of various goods and services by a household for a particular period.

5) Supports research and development-

New products and services need to be researched and tested before launching in
the market. Therefore, an entrepreneur also dispenses finance for research and
development with research institutions and universities. This promotes research, general
construction, and development in the economy.

1.2 Entrepreneur
Dissecting the word “Entrepreneur” we get

Entre – Enter

Pre – Before

Neur – Nerve Centre

An entrepreneur is a creator or a designer who designs new ideas and business processes
according to the market requirements and his/her own passion. Entrepreneurs don't see the risk:
they see the reward.

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 Entrepreneur Entrepreneurship Enterprise

Process or
Person Philosophy
Object

Some definitions of an entrepreneur are listed below:

1. Stems:
From the French word ‘entrependre’, entrepreneur m
meaning
eaning one who undertakes or one
who is a ‘go-between’.

2. J.B. Say
An entrepreneur is an economic agent who unites all means of production-
production land of one,
the labour of another and the capital of yet another and thus produces a prproduct.
oduct. By selling the
product in the market he pays rent of land, wages to labour, interest on capital and what remains
is his profit. He shifts economic resources out of an area of lower and into an area of higher
productivity and greater yield.

3. Peter Drucker
An entrepreneur searches for change, responds to it and exploits opportunities. Innovation
is a specific tool of an entrepreneur hence an effective entrepreneur converts a source into a
resource.

4. According to Economists

An entrepreneur is the one who brings resources, labour, material and other assets into
combination to produce a socially viable product, and also one who introduces changes,
innovation and new order.

5. According to management

A person with a vision and action plan to achieve it is an entrepreneur.

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1.3 Competencies and Charecteristics of an entrepreneur
1. Creative:
Entrepreneurship starts with an idea. To be successful, a person needs to be
always thinking of new ideas and better ways of doing things.

2. Future oriented:
He is able to visualize market demand, socio-economic environment and the
future of business venture.

3. Knowledge:
He has sound conceptual knowledge about all the technicalities of his business.

4. Desire to succeed:
He has multiple goals and seeks opportunities to be productive.

5. Independence and decisive:

He is independent in work and decision making.

6. Passionate:
Entrepreneurs must love what they do and extremely dedicated to the businesses
they create. To be successful, they must be confident in themselves and their business,
and they must be proactive with what they do and how they do it.

7. Motivated:
Entrepreneurs are their own boss, which means there's no one telling them to do
things. They must be incharge of their own time and how they spend it.

8. Optimistic:
Entrepreneurs always look on the right path and are constant dreamers. They look
at how they can do things better and make the world a better place. When they're
confronted with challenges, entrepreneurs don't see them as problems; they see them as
opportunities.

9. Flexible:
Incase of any changing situations, entrepreneurs are ready and willing to adopt
changes. They always approach things with an open mind and are willing to change if
they need to.

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 10. Resourceful:
Entrepreneurs must know how to make the most of what they have. Time, money
and effort are never used aimlessly. Everything has a plan and a purpose.
11. Adventurous:
Entrepreneurs should know that to be successful, they must be willing to take
risks. While they don't mind walking on the wild side, they don't take risks lightly. They
know how to plan for the unknown and make a calculated decision that is best for them
and their business.

1.4 FUNCTIONS OF AN ENTREPRENEUR

Some of the most important functions performed by an entrepreneur are as follows:

1. To Prepare Plan:
The first and foremost function of an entrepreneur is to prepare the plan or scheme of
production i.e., the scale of production, types of goods to be produced and its quantity.

2. Selection of the Site:

The entrepreneur makes the selection of the site for the factory to be installed. The place
should be near the market, railway station or bus-stand. The selection of the place may be near
the source of raw materials also. The selection of the place has an important bearing on the cost
of production.

3. Provision of Capital:
Capital is required to install a factory or an industry. Capital is required at all the stages
of business. It is not necessary that the entrepreneur should invest his own capital. Therefore, he
has to trace out a capitalist, to make provision for capital for the investment. He tries to obtain
capital at the lowest possible rate of interest.

4. Provision of Land:
After making provision of capital and selection of site, he has to arrange for land. Land is
either purchased or hired.

5. Provision of Labour:
In modern times, different types of labour are required to produce one type of
commodity. The entrepreneur has to make provision for labour from different places.

6. Purchase of Machines and Tools:

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 It is the function of the entrepreneur to purchase machines and tools in order to start and
continue the production.

7. Provision of Raw Materials:

It is the entrepreneur who makes provision for raw materials. He purchases the best
quality of raw materials at the minimum cost. He also knows the sources of raw materials.

8. Co-ordination of the Factors of production:

One of the main functions of the entrepreneur is to coordinate different factors of
production in proper combinations, so that the cost of production is reduced to the minimum.

9. Division of Labour:
The splitting up of production into different parts and entrusting them to different
workers is also the function of an entrepreneur. Thus, the entrepreneur decides the level and type
of division of labour.

10. Quality of Product:

Keeping in view the competition in the market, the entrepreneur has to determine the
quality of his product. He is to decide whether the goods produced should be of superior quality
only or both of superior and ordinary qualities.

11. Sale of Goods:

The responsibility of the entrepreneur is not only to produce goods but also to sell his
produce. He employs a good number of salesmen to market the goods. He makes arrangement
for publicity to push up the sales. He adopts both informative and persuasive methods to achieve
his goal.

12. Advertisement:
It is the duty of an entrepreneur to do advertisement explaining the superiority and quality
of his goods through newspapers, magazines, radio, TV, etc. Advertisement is done to create and
increase the demand or sale of his goods.

13. Search for Markets:

The entrepreneur has to explore markets for his products. He produces goods in
accordance with the consumers’ tastes which can be known from market trends.

14. Supervision:
One of the main jobs of an entrepreneur is to supervise all the factors engaged in the
production process. He has to supervise every little detail so as to ensure maximum production
and economy.

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15. Contact with the Government:
The entrepreneur has to make contacts with the government because the modern
production system is controlled by the government in several ways. A licence is taken before the
start of production. The entrepreneur has to abide by certain rules and regulations of production
and has to pay taxes regularly.

16. Payment to Factors of Production:

The rewards of the various factors of production have to be decided by the entrepreneur.
He makes payments to the landlord, labour and capitalist in the form of rent, wages and interest.
Since payments to these factors of production constitute cost, so no entrepreneur wants to pay to
a factor more than its productivity.

17. Quantity of Production:

The entrepreneur determines the quantity of production keeping in view the demand for
goods and the extent of market. How much goods are to be produced is the main decision taken
by the entrepreneur.

18. Risk-Taking:
Risk-taking is the most important function of an entrepreneur. He has to pay to all the
other factors of production in advance. There are chances that he may be rewarded with a
handsome profit or he may suffer a heavy loss. Therefore, the risk-bearing is the final
responsibility of an entrepreneur.

19. Innovation:
Innovation plays an important role in modern business. The entrepreneur makes
arrangements for introducing innovations which help in increasing production on the one hand,
and reducing costs, on the other. Innovations may take the form of the introduction of new
methods in the process of production or introducing improvements in the existing methods. It
also includes discovery of new markets, raw materials and new techniques of production.

1.5 CLASSIFICATION AND TYPES OF ENTREPRENEURS

The entrepreneurs have been broadly classified according to:

I. The type of business
II. Use of professional skill
III. Motivation,
IV. Growth and
V. Stages of development.

The various type of entrepreneur is as follows:

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 I. Entrepreneurs according to the type of business

Entrepreneurs are found in various types of business occupations of varying size, we may
broadly classify them as follows:
1. Business entrepreneur: Business entrepreneurs are individuals who conceive an idea for
a new product or service and then create a business to materialize their idea into reality.
They may set up a big establishment or a small business unit. They are called small
business entrepreneurs when found in small business units such as printing press, textile
processing house, advertising agency, readymade garments or confectionery.

2. Trading Entrepreneur: The trading entrepreneur is one who undertakes trading

activities and is not concerned with the manufacturing work. He identifies potential
markets, stimulates demand for his product line and creates a desire and interest among
buyers to go in for his product line. He is engaged in both domestic and overseas
trade. Britain, due to geographical limitations has developed trade through trading
entrepreneurs.

3. Industrial Entrepreneurs: Industrial entrepreneur is essentially a manufacturer who

identifies the potential needs of customers and tailors a product or service to meet the
marketing needs. He is product- oriented man who starts in an industrial unit because of
the possibility of some new product.

4. Corporate Entrepreneur: Corporate entrepreneur is a person who demonstrates his

innovative skill in organizing and managing corporate undertaking. A corporate
undertaking is a form of business organization which is registered under some statue or
act which gives it a separate legal entity. A trust registered under Trust act or company
registered under the companies act is examples of corporate undertakings. A corporate
entrepreneur is thus an individual who plans, develops and manages a corporate body.

5. Agricultural Entrepreneur: Agricultural entrepreneur are those entrepreneurs who

undertake agricultural activities as raising and marketing of crops, fertilizers and other
inputs of agriculture. They are motivated to raise agricultural through mechanization,
irrigation and application of technologies for dry land agriculture products.

II. Entrepreneurs in Technology

We may broadly classify these entrepreneurs on the basis of use of technology as follows:
1. Technical entrepreneur: A technical entrepreneur is essentially compared to a crafts man.
He develops improved quality of goods because of the craftsmanship. He concentrates more
on production than marketing.

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2. Non technical entrepreneur: These are people who are not concerned with the technical
aspects of the product in which they deal. They are concerned only with developing
alternative marketing and distribution strategies to promote their business.

3. Professional entrepreneurs: Professional entrepreneurs are a person who is interested in

establishing a business but does not have interest in managing or operating it once it is
established. A professional entrepreneur is a person who is interested in establishing a
business but does not have interest in managing or operating it once it is established. A
professional entrepreneur sells out the running business and starts another venture with the
sales proceeds.

III. Entrepreneurs and Motivation

1. Pure entrepreneur: A pure entrepreneur is an individual who is motivated by psychological

and economic rewards. He undertakes an entrepreneurial activity for his personal satisfaction
in work, ego, and status.

2. Induced Entrepreneur: He is the person who is induced to take up an entrepreneurial task

due to the policy measures of the government that provides assistance, incentives,
concessions, and necessary overhead facilities to start the venture. Most of the induced
entrepreneurs enter entrepreneurship due to financial, technical and several other facilities
provided to them by the state agencies to promote entrepreneurship.

3. Motivated entrepreneur: New entrepreneurs are motivated by the desire for fulfillment.
They come into being because of the possibility of making and marketing some new product
for the use of customers. If the product is developed to saleable stage, the entrepreneur is
further motivated by reward in terms of profit.

4. Spontaneous Entrepreneur: These entrepreneurs start their business because of their

natural talents. They are persons with initiative, boldness and confidence in their ability
which motivate them to undertake entrepreneurial activity. Such entrepreneurs have a strong
conviction and confidence in their inborn ability.

IV. Growth and Entrepreneurs

1. Growth Entrepreneur: Growth entrepreneurs are those who necessarily take up high
growth industry which has substantial growth prospects.

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2. Super Growth Entrepreneurs: Super growth entrepreneurs are those who have shown
enormous growth of performance in their venture. The growth performance is identified by
the liquidity of funds, profitability and gearing.

V. Entrepreneurs and stages of Development:

Entrepreneurs may also be classified as the first generation entrepreneur, modern entrepreneur
and classical entrepreneur depending upon the stage of development. They are explained below:
1. First-generation entrepreneur: A first generation entrepreneur is one who starts an
industrial unit by innovative skills. He is essentially an innovator, combining different
technologies to produce a marketable product or service.
2. Modern entrepreneur: A modern entrepreneur is one who undertakes those ventures which
go well along with the changing demand in the market. They undertake those ventures which
suit the current marketing needs.
3. Classical entrepreneur: A classical entrepreneur is one who is concerned with the
customers and marketing needs through the development of the self supporting venture. He is
a stereotype entrepreneur whose aim is to maximize his economic returns at a level consistent
with the survival of the firm with or without an element of growth.

VI. Others

1. Innovating Entrepreneurs: Men and women in this group are generally aggressive in
experimentation who exhibit cleverness in putting attractive possibilities into practice. One
need not invent but convert even old established products or services by changing their
utility, their value, and their economic characteristics into something new, attractive and
utilitarian. This is the secret of these people.
2. Imitative entrepreneurs: These people are characterized by readiness to adopt successful
innovations by entrepreneurs. They imitate techniques and technology innovated by others.
They are adoptive and more flexible.
3. By western standards, an imitative entrepreneur may be a pedestrian figure, an adopter an
imitator rather than a true innovator. He is more an organizer of factors of production than a
creator. But in a poor country attempting to industrialize, he is nevertheless a potent change
producing figure. He can set in motion the chain reaction which leads to cumulative progress.

1.6 Problems faced by Entrepreneurs.

Entrepreneurship comes with many challenges. Experienced entrepreneurs have to deal with this
no matter how long they’ve been in the business. But for new and young entrepreneurs, there are
some unique challenges that are especially difficult to overcome.

1. Quitting another career

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 When a person wants to dedicate himself to start and nurture a business to success, it’s
going to be nearly impossible to simultaneously manage another career. He might be able to
manage the infancy of his business on the side, during weeknights and weekends, but if he wants
a chance of growing significantly, then he has to quit his day job.

2. Financing
Experienced entrepreneurs don’t find it easy when it comes to funding a new
business, but they do have a few advantages over newcomers. They might have a pool of
capital from a business they previously sold or a stream of revenue they can use to fund a
new business’s cash flow. But a new entrepreneur faces many problems of funding.

3. Team building
This is especially hard if entrepreneur never run or managed a team before, but
even if he has management experience, picking the right team for a startup is stressful
and difficult. It’s not enough to find candidates who fill certain roles -- he also need to
consider their cost to the business, their culture fit and how they’ll work as part of your
overall team.

4. Being the visionary

As the founder of startup, entrepreneur will be expected to come up with the
ideas. When a competitor emerges, it will be his responsibility to come up with a
response plan. When entrepreneur’s team hits a non accessible obstacle, his job will be to
come up with an alternative plan to move forward.

5. Dealing with the unknown

How long will your business exist? How profitable will your business be? Will
customers like your product? Dealing with the volatility (changes) is one of the hardest
parts of emerging as a new entrepreneur.

6. Loneliness
It’s a rarely mentioned problem of entrepreneurship, and many new business
owners aren’t prepared for it until it happens. Being an entrepreneur is lonely. It’s a
singular position, so entrepreneur won’t have teammates to rely on (completely). He will
be working lots of hours, so he won’t see his family as often. And his employees will be
forced to remain at a bit of a distance.
7. Rule-making
Its fun to be the boss until entrepreneur has to enforce something. Sooner or later,
he will have to come up with the rules his business follows. These details aren’t fun to
create, and they aren’t fun to think about, but they are necessary for every business.
8. Decision-making

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 One of the most difficult skills for an entrepreneur is decision making. Decision
making is the most stressful challenge for an entrepreneur. New entrepreneurs are forced
to make hundreds of decisions a day. When he makes decisions, he should never be
choosing between two options. Instead, he needs to choose among several plans.
9. Social Capital:
It is also defined as Pehchaan in India or Guanxi in China. Social capital has
been defined as the aggregate of the actual or potential resources that are linked to
relationships of mutual association and recognition. It can also be referred to as
connections or relationships.
People like to do business with people they know. It becomes easier to do
business if we know the right people. They may be the people either in the industry or
other. Measuring social capital can prove to be tricky, but it depends on how many
people entrepreneur know, how powerful are those people, and what they are willing to
do for him. There are a number of cases of entrepreneurs who have benefited by knowing
the right people and using it to their advantage.
10. Regional Sentiments:
Many businesses have failed because they failed to take into account the
sentiments of the local population. Many successful businesses have managed to identify
and respond to local sentiments. Many outlets of international fast food chains such as
Pizza Hut and McDonald’s do not serve beef or pork as a sign of respect for local.

1.7 Some advantages for entrepreneurs from entrepreneurship

(a) Provides Self Employment for the entrepreneur

(b) Entrepreneur can provide employment for near & dear one as well

(c) Entrepreneurship often provides an employment and livelihood for next generations as well.

(d) Freedom to use own ideas – Innovation and creativity

(e) Unlimited income / higher retained income – Bill Gates has risen to become richest in the
world in a single life time through entrepreneurship

(f) Independence

(g) Satisfaction to the nation

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1.8 Women Entrepreneurship
Introduction

Women constitute around half of the total world population. So it is in India also. They are
regarded as the better half of society.

In traditional societies, women were confined to the four walls of houses performing
household activities. In modem societies, they have Come out of the four walls to participate in all
sorts of activities.

The global evidence buttress that women have been performing exceedingly well in
different spheres of activities like academics, politics, administration, social work and so on.

Now, they have started plunging into industry also and running their enterprises successfully.

Women entrepreneurs
Women Entrepreneurs may be defined as the women or a group of women who initiate, organize
and operate a business enterprise.
A woman entrepreneur is therefore a confident, creative and innovative woman desiring
economic independence individually and simultaneously creating employment opportunities for
others.
According to definition given by government of India- “A women entrepreneur is defined as an
enterprise owned and controlled by women having a minimum financial interest of 51% of the
capital and giving at least 51% employment generated to women”
 Industries promoted by women entrepreneurs
 Agarbatti making
 Papad making
 Embroidery
 Handicrafts
 Catering services
 Running restaurant, snack bars etc
 Small retail shops
 Beauty parlors
 Pickle manufacturing etc

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1.9 Challenges and Problems faced by Women Entrepreneurs in India
1. Family restriction
Women are expected to spend more time with their family members. They do not
encourage women to grab the business opportunities.

2. Lack of Finance
Family members do not encourage women entrepreneurs. They hesitate to invest money
in the business venture initiated by women entrepreneurs. Bank and other Financial Institutions
do not consider Middle Class Women Entrepreneurs as proper applicants for setting up their
projects and they are hesitant to provide financial assistance to unmarried women or girls as they
are unsure as to who will repay the loan — Either their parents or in-laws after their marriage.
This humiliates unmarried women and they generally leave the idea of setting up their ventures.

3. Lack of Education
Women are generally denied of higher education, especially in rural areas and under developed
countries. Women are not allowed to enrich their knowledge in technical and research areas to
introduce new products.

4. Role Conflict
Marriage and family life are given more importance than career and social life in Indian society.

5. Unfavorable Environment
The society is dominated by males. Many business men are not interested to have business
relationship with women entrepreneurs. Male generally do not encourage women entrepreneurs.

6. Lack of persistent Nature

Women generally have sympathy for others. They are very emotional. This nature should not
allow them to get easily cheated in business.

7. Lack of Mental strength

Business involves risk. Women entrepreneurs get upset very easily when loss arises in business.

8. Lack of Information
Women entrepreneurs are not generally aware of the subsidies and incentives available for them.
Lack of knowledge may prevent them from availing the special schemes.

9. Competition
Women face lot of competition from men. Due to limited mobility they find difficult to compete
with men.

10. Mobility

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Moving in and around the market, is again a tough job for Middle Class Women Entrepreneurs
in Indian Social system.

Remedial Measures

Some of the remedial measures that can be undertaken to promote women entrepreneurship in
India are as follows.

1. Promotional Help
Government and NGOs must provide assistance to entrepreneurs, both in financial and non
financial areas.

2. Training
Women entrepreneurs must be given training to operate and run a business successfully. Training
has to be given to women who are still reluctant to take up the entrepreneurial task.

3. Selection of Machinery and Technology

Women require assistance in selection of machinery and technology. Assistance must be
provided to them in technical areas so that the business unit becomes successful.

4. Finance
Finance is one of the major problems faced by women entrepreneurs. Both family and
government organizations should be liberal in providing financial assistance to them.

5. Marketing Assistance
Due to limited mobility, women are unable to market their goods. Assistance must be provided
to help them to market their goods successfully in the economic environment.

6. Family support
Family should support women entrepreneurs and encourage them to establish and run business
successfully.

1.10 Developing women entrepreneuship

1. Consider women as specific target group for all developmental programmes.

2. Better educational facilities and schemes should be extended to women from
government part.
3. Adequate training programmes on management skills to be provided to women
community.
4. Encourage women’s participation in decision-making.
5. Vocational training to be extended to women community that enables them to
understand the production process and production management.
6. Skill development to be done in women’s polytechnics and industrial training
institutes. Skills are put to work in training-cum-production workshops.
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7. Training on professional competence and leadership skill to be extended to women
entrepreneurs.
8. Training and counselling on a large scale of existing women entrepreneurs to remove
psychological causes like lack of self-confidence and fear of success.
9. Counselling through the aid of committed NGOs, psychologists, managerial experts
and technical personnel should be provided to existing and emerging women
entrepreneurs.
10. Continuous monitoring and improvement of training programmes.
11. Activities in which women are trained should focus on their marketability and
profitability.
12. Making provision of marketing and sales assistance from government part.
13. To encourage more passive women entrepreneurs the Women training programmes
should be organized that taught to recognize her own psychological needs and express
them.
14. State finance corporations and financing institutions should permit by statute to
extend purely trade related finance to women entrepreneurs.
15. Women’s development corporations have to gain access to open-ended financing.
16. The financial institutions should provide more working capital assistance both for
small scale venture and large scale ventures.
17. Making provision of micro credit system and enterprise credit system to the women
entrepreneurs at local level.
18. Repeated gender sensitization programmes should be held to train financiers to treat
women with dignity and respect as persons in their own right.
19. Infrastructure, in the form of industrial plots and sheds, to set up industries is to be
provided by state run agencies.
20. Industrial estates could also provide marketing outlets for the display and sale of
products made by women.
21. A Women Entrepreneur’s Guidance Cell set up to handle the various problems of
women entrepreneurs all over the state.
22. District Industries Centers and Single Window Agencies should make use of assisting
women in their trade and business guidance.
23. Programmes for encouraging entrepreneurship among women are to be extended at
local level.
24. Training in entrepreneurial attitudes should start at the high school level through well-
designed courses, which build confidence through behavioural games.
25. More governmental schemes to motivate women entrepreneurs to engage in small
scale and large-scale business ventures.
26. Involvement of Non Governmental Organizations in women entrepreneurial training
programmes and counselling.

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1.11 Success stories of women entrepreneurship – case study
A few inspiring stories of successful Indian women entrepreneurs:
Top 10 Famous Women Entrepreneurs in India
1. Vandana Luthra – The founder of VLCC

Vandana Luthra is an Indian businesswoman, philanthropy and chairperson of the beauty &
Wellness sector skill council (B&WSSC). In 1989, she stared the company called VLCC as a
beauty and slimming service centre. Later, she added more services such as hair build, full-body
laser, grooming and Dermat services. In April 2013, she awarded with Padma Shree award by
Indian President Pranab Mukherjee. Vandana Luthra has been running NGO called Khushii,
which offers a scholarship for free education to those who are underprivileged and physically
challenged.

2. Kiran Mazumdar Shaw – The founder of Biocon Limited

Kiran Mazumdar Shaw is known as India’s wealthiest self-made woman who found a
biopharmaceutical firm in 1978. This firm has entered in US biosimilars market and is getting
the attention of investors. As per Forbes, it is the first company to get approval from the USFDA.
She has put big fortune to build deep R&D- Based biotech firm. In 2019 she held the title called
Indian’s 54th richest person and world’s 65th powerful woman. As far as her qualification is
concerned, she did a bachelor’s and master’s degree from Bangalore University and Melbourne
University respectively.

3. Priya Paul– The chairperson of Park Hotel

Priya Paul is an Indian woman Entrepreneur who is chairperson of Apeejay Surrendra park
hotels. After finishing her studies from Wellesley College (US), she started working under her
father as a marketing manager. At age 51, she is considered one of the most influential women.
According to Wikipedia, in 2012, Paul revised India’s most honorable award called Padma Shree
Award by Pratibha Shing Patil (Former Indian president).

4. Ritu Kumar – The Fashion designer

Ritu Kumar is an Indian fashion designer who began her Fashion career in Kolkata. Initially, she
was making bridal wear and evening clothes. After decades, she entered an international market.
She has been operating her business in several different forging cities France and New York. In
2013, She awarded Padma Shree by the government of India. About her education, she
completed schooling at Loreto Convent and have done college from lady Irwin College. Later
she got a scholarship at Briarcliff College in New York, where she pursued Art History.

5. Suchi Mukherjee – Founder & CEO of Limeroad

In 2012, Suchi Mukherjee created online clothing and lifestyle accessories marketplace and
named Limeroad. Today this company is known as Indian’s most stylish online shopping website

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for men and women. She graduated in economics and went to economic school in London, to
pursue a master’s finance degree. If we talk about his achievement, she received many awards
like Coolest Start-up of the year (from Business Today), Infocom woman of the year- Digital
Business, and Unicorn Start-up Award (NDTV).

6. Indra Nooyi – The board member of Amazon

Indra Nooyi is a former CEO of PepsiCo who has joined Amazon’s board of directors. After
completing a master’s degree from Yale School of Management, she worked as a product
manager at Johnson & Johnson. Later she joined the Boston Consulting Group as a strategy
consultant. In 1994, she started working at PepsiCo, later she led the company as CEO from
2006 to 2018. In Feb 2019, she elected a member of Amazon’s board of directors. In 2017, She
held title world’s 11th powerful woman as per Forbes.

7. Aditi Gupta – The Co-founder of Menstrupedia

Aditi Gupta is an author and co-founder of the Menstrupedia. Aditi and her husband created a
comic book to illustrate and educate girls about menstruation. Later, they created a website
called menstrupedia.com. In 2014, Menstrupedia became a partner with Whisper India for their
school contact program and presented “Touch the Pickle”, this movement occurred in four
different cities. In 2014, she launched a comic book and got pretty much success, the book has
been translated into Spanish and Nepali. Menstrupedia comics are used by schools like Bright
English School Ahmedabad, Ecole Mondiale World School, GlS Primary school, and many
others.

8. Falguni Nayar – The Founder of Nykaa

After working 20 years as an investment banker with Kotak Mahindra, she left the job to pursue
her own dream. In 2012, she stared company Nykaa, which sells online cosmetic and wellness
products. Today, the company has become so famous among Indian women. The company offers
more than 850 brands and has introduced 35 physical stores. In 2017, she got the title of “Most
powerful business “by Business Today. She also received the “woman Ahead” award at the
Economic Times. Since 2014, The company has been a partner with Femina.

9. Vani Kola – Founder, Kalaari Capital

Vani Kola is a venture capitalist and founder & managing director of Kalaari Capital. She has
done her master of science degree from Arizona State University. During her 22 years in Silicon
Valley, she founded two company Rightwrok and Certus software. In 2006, she returned to
India. In India, she started her career as a Venture capitalist, she did a partnership with NEA
(New Enterprise Associates). In Sep 2012, Kalaari Capital stared operation with a 150-million-
dollar fund. In 2018, She won the TiE Delhi-NCR 5th Edition of women Entrepreneurship
Summit Award. She also got NDTV Women of Worth award for entrepreneurship.

10. Radhika Ghai Aggarwal – Co-Founder & CMO, Shopclues.com

Equipped with more than 15 years of marketing experience in several industries such as Fashion
& lifestyle, advertising & public relations, and others. She became Co-founder of

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Shopclues.com. In 2011, the company was founded in Silicon Valley. Today, this e-commerce
business has become India’s largest fully managed marketplace and has over 7 million visitors
each month. The company serves more than 9 thousand cities. She has done MBA from
Washington University. Her achievement makes her innovative tech women entrepreneurs in
India.

 Reference

a) https://www.economicsdiscussion.net/entrepreneurship/women-entrepreneurs-in-
india/32337
b) https://bbamantra.com/women-entrepreneurship/
c) http://hersaga.com/women-entrepreneurs-india/

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