Description
Critical Evaluation Of A Few Indian Entrepreneurs
AMET International Journal of Management 63 Jan – Jun 2012
CRITICAL EVALUATIONOF AFEWINDIANENTREPRENEURS
Abstract
Dr. L. SureshMallya
Dr.N.R.V. Prabhu
Entrepreneurs playa keyrole in anyeconomy. They are the people whohave the competencies and
initiative necessary to take goodnewideas to the market andmake the right decisions to make the
idea profitable. The rewardfor the risks taken is the potential economic profits the entrepreneur
could earn. He is one who creates, founds, or originates; he is an architect, author, creator,
founder, inventor, originator, parent, and patriarch. The study of entrepreneurship has relevance
because of the economic contribution of these newventures. More than increasing national income
by creating newjobs, entrepreneurship acts as a positive forcein economic development by serving
as the bridge between innovation andmarket place. Thus the entrepreneur serves as the major link
in the process of innovation, development, economic growth and revitalization. The study of
entrepreneurship and education of potential entrepreneurs are essential parts of any attempt to
strengthen this linksoessential to a country?s economic development.
KeyWords: Risk, Economic contribution, I nnovation
I ntroduction
India is a very young Nation – just
over 64 years since independence – setting
out on a path of sustained economic growth,
for decades to come. We already have over a
billion fellow I ndians. Within the next 20
years, we will have 400 million people below
the age of 35 years – more than the entire
population of the United States. Each person,
in this bold new generation, will be in the
prime of his or her life, striving for a better
tomorrow – creating, in the process, new
growth opportunities, for budding
entrepreneurs. On the most conservative
basis, our domestic consumption, in virtually
any sector, has the potential to at least
double, or treble, from current levels –
perhaps, just to catch up with a country like
China. Then, there is the entire global
opportunity, across diverse sectors
internationally; the "Made in India" tag is now
an increasingly respected brand, valued for
quality, reliability, and competitiveness. Truly,
with economic reforms in the country, and
with the virtual removal of all trade barriers,
the world is now our market – and our
opportunity. The pursuit of these
opportunities requires an indomitable spirit of
entrepreneurship.
Need for thestudy
Modern I ndia is in need of substantial growth
of the industrial and agricultural sectors for
her march towards a global power and to
successfully meet the social obligations such
as poverty alleviation, raising standard of
living, and meaningful employment to all. The
role of entrepreneurs in this aspect is highly
significant. I ndian entrepreneurs have been
instrumental in shaping the destiny of millions
by providing them employment in their
enterprises, venturing into untested arena,
and introducing innovative business
strategies. This naturally draws our attention
to investigate as to how Indian entrepreneurs
succeed in their ventures and the essence of
AMET International Journal of Management 64 Jan – Jun 2012
Evaluation of a fewIndian Entrepreneurs Dr.L.Suresh Mallya & Dr.N.R.V.Prabhu
such enquiry can be used as benchmark for
budding and aspiring entrepreneurs. Along
with 2 successful entrepreneurs, 1 case of
failed entrepreneur has also been included in
this study. This remains a testimony to the
fact that there are numerous entrepreneurs in
India, who having succeeded in venturing
into their dream projects, could not
consolidate due to various faulty strategies
and eventually met with failure.
Case-1:
Karsanbhai Patel – Nirma
Born into a farmer?s family from north
Gujarat, Karsanbhai finished his B.Sc. in
Chemistry at age 21 and worked as a lab
technician, first in the New Cotton Mills,
Ahmedabad, of the Lalbhai group and then at
the Geology and Mining Department of the
state Government. In 1969, Karsanbhai set
up Nirma, selling detergent powder. This was
an after-office business - the one-man
company would bicycle through the
neighbourhoods selling handmade detergent
packets door to door. At a price of Rs. 3 per
kg, (one third the price of leading
detergents), it was an instant success. After
three years, Karsanbhai felt confident enough
to quit his job. Later he said: “the lack of any
such precedent in my family made the
venture fraught with fear of failure. But
farmers from North Gujarat are known for
their spirit of enterprise.” Karsanbhai set up a
small workshop in an Ahmedabad suburb.
The Nirma brand quickly established itself in
Gujarat and Maharashtra.The high quality and
low price of the detergent made for great
value. Fueled by housewife-friendly
advertisement jingles, Nirma revolutionized
the detergent market, creating an entirely
new segment in economy detergent powder.
At that time, detergent and soap manufacture
was dominated by multinational corporations
with products like Surf (detergent) by
Hindustan Lever, priced around Rs. 13 per kg.
Within a decade, Nirma was the largest
selling detergent in I ndia. Since production
was labour intensive, Nirma also became a
leading employer. Since Nirma was low on
chemicals and phosphates it is more
environment friendly. After establishing its
leadership in economy-priced detergents,
Nirma entered the premium segment,
launching toilet soaps Nirma bath and Nirma
beauty soap, and premium detergent Super
Nirma detergent. Ventures into shampoo and
toothpaste were not as successful, but the
edible salt Shudh is doing well. Nirma beauty
soap is one of the leading toilet soaps, behind
Lifebuoy and Lux. Overall Nirma has a 20%
market share in soap cakes and about 35% in
detergents. Nirma also has successful
operations in neighbouring countries.
Case-2:
KochousephChittilappilly– V Guard
Kochouseph is a post graduate in Science
majoring in Physics from Calicut University.
He started his career as a Supervisor in an
electronics company, where he worked for
three years. In the year 1977, he started a
SSI Unit engaged in the manufacturing and
selling of Electronic Voltage stabilizers. For
Kochouseph, life has been a roller-coaster
ride. After a short stint at a voltage-stabiliser
manufacturing unit, he decided to start his
own venture. V-Guard scored on quality and
after-sales service. That is why it has now
become a name you can trust, he says. The
astute business mind of the physics
postgraduate sensed that Keralites would
soon buy more refrigerators and televisions,
AMET International Journal of Management 65 Jan – Jun 2012
Evaluation of a fewIndian Entrepreneurs Dr.L.Suresh Mallya & Dr.N.R.V.Prabhu
and unreliable power supply would make
them run for his product. But not everybody
shared his vision and finding capital was
difficult; banks were not impressed by his
proposal, and refused to fund him.
Nevertheless, in 1977 an undeterred
Kochouseph ventured into stabiliser
manufacturing with an investment of Rs one
lakh that his father gave him. With just two
employees, all that he could make were two
stabilisers a day. Today, Kochouseph is one
of the most successful businessmen in Kerala.
His 165-crore V- Guard group is a
household name in the State, with its flagship
stabilisers and a host of products such as
water pumps, water heaters, UPS, wiring
cables and starters. V-Guard employs more
than 4,000 people directly and indirectly. The
group includes V-Star creations, makers of
apparel ranging from designer churidars to
lingerie, and the Veega Land amusement
park. "What is more important to me (than
money) is my self-esteem, mental peace,
happiness and health," he says. Business
circles in the State would agree that this is a
sincere remark from a genuine,
straightforward businessman who values
ethics to the hilt. Kochouseph is both a leader
and a team player. “I believe that the
achievements of V- Guard group are not
entirely due to my abilities. I realize that our
managers, staff and other associates have
played a major role in bringing V-Guard to
this level,” he says. But more than anything
else, it is perhaps his penchant to be original,
passion for his brand, and a common sense
approach to management that keeps V–Guard
stand apart from the crowd.
Case-3:
R. Subramaniam– Subhiksha
Subhiksha was an Indian retail chain with
1600 outlets selling groceries, fruits,
vegetables, medicines and mobile phones -
discount stores at prices which are much
lower than other retail outlets. The name
Subhiksha means prosperity in Sanskrit. It
opened its first store in Chennai in 1997 with
an investment of about Rs. 50 Lakh. It was
started and managed by R Subramaniam, an
IIM Ahmedabad alumnus. Subhiksha planned
to open 1000 outlets by December 2008.
Subramanian also planned to invest Rs.500
crore to increase the number of outlets to
2000 across the country by 2009.
Troubles started for Subhiksha in late 2008
when the company ran out of cash, bringing
its operations to a standstill. Subhiksha faced
severe financial crisis pertaining to liquidity.
Rumours that Subhiksha was in a precarious
position started in September 2008. That
month, employees did not get their salaries.
The cash shortage eventually resulted in
Subhiksha closing its nationwide network of
1,600 supermarket stores, and defaulting on
loans, vendor payments and staff salaries. All
stores across the country were shut down.
There was no money in the bank accounts of
Subhiksha, a company which had just the
previous year claimed sales of Rs. 2,300
crore. When Subhiksha was struggling and
sought restructuring of its loans, the world
was in the middle of its biggest economic
downturn. Subhiksha did not realize that a
few stores would be profitable and generate
positive cash flows, in that troubled times. It
moved across different sectors such as
medicine, grocery, I T, mobile etc. very fast.
Instead of stabilizing and consolidating itself
AMET International Journal of Management 66 Jan – Jun 2012
Evaluation of a fewIndian Entrepreneurs Dr.L.Suresh Mallya & Dr.N.R.V.Prabhu
first in existing places and then moving to
newer locations, Subhiksha tried to be the
first in every town. Subhiksha?s bad legacy of
credit defaults resulted in supply chain
breakages – leading to situations where
sometimes the stores had very high inventory
and at others, the stocks were out. This
caused trust deficit in customers.
Subhiksha closed down in 2009 amid
allegations of defaults, non payments of
wages and bankruptcy. The people behind it
are still struggling to come up with valid
explanations. Two points are glaring as to
why Subhiksha went wrong:
o Expansion against consolidation:
With the availability of free capital and
the irrational performance of the markets,
people try anything and everything to just
expand without actually looking back at
what they have achieved. Subhiksha went
on expanding without gaining breathing
time without first consolidating their
previous successes.
o Lack of Focus: Once they see profits
they quickly try to become a
conglomerate. It is just not one company
they will run but they will create
offshoots. I n the end they forget what
they really want. I n Subhiksha?s case, it
was the lack of focus on the product mix
they were offering.
Retail is a different ball game as achieving
clear focus is difficult. Before opening the nth
store, they should have checked whether
people are buying a mobile from them or
from a specialized mobile store. The customer
would rather go to a store which has a
specialization for the thing we want to buy.
We just do not want to waste time in a shop
which offers everything and anything only to
find that they do not offer a thing which we
want.
Alas, Subhiksha which began operations in
1997 was closed down in 2009, owing to
business mismanagement and a severe cash
crunch.
Conclusion
Ambitions or compulsions alone may not
make an entrepreneur. Sometimes, the
encouragement he got from his family
members or his friends and relatives, the
experience he gained in employment, the
skills he/ she has developed also facilitate the
exercise of entrepreneurship. Many factors
may come up in the way of starting an
industry. For example, encouragement of the
family elders is very much needed in the
process of establishing a unit. I f they are
reluctant, quite naturally, it is difficult to
expect support from others including
entrepreneur's spouse. Moreover, first
generation entrepreneurs generally face
strong opposition from their parents as
occupation pursued by the family so far is
different from what is going to be done by
the entrepreneur. There are significantly
more entrepreneurs in the families of noted
social echelons, exhibiting more thrust on
their risk-taking and adventurous qualities of
their way of life. We may even conclude that
there is a clear effect of family variable on the
choice of every successful entrepreneur.
AMET International Journal of Management 67 Jan – Jun 2012
Evaluation of a fewIndian Entrepreneurs Dr.L.Suresh Mallya & Dr.N.R.V.Prabhu
References
1. Ankur Budhiraja and Dr. Bhawna
Bhatnagar, Entrepreneurship and Small
Business Management, Vayu Education of
India, New Delhi, 2009.
2. Banumathy, Dr.K., Dr. Prabhu N.R.V. and
Nagendran R., Entrepreneurship
Management and Development of Small
Business, Centre for Research and Action
for Integrated Development, Chennai,
2002
3. Batra, G.S., Entrepreneurship Business:
Failure and Turnaround Management,
South Asian J ournal of Management,
Hyderabad, Vol. 2, No. 394, J uly-Dec.
Entrepreneurship, Sultan Chand & Sons,
NewDelhi, 1994.
10. Hussain, Abid, Small Enterprises
Protection, Laghu Udyog, Vol. XXII &
XXIII, No.6 to 7, J an- Sept 1998.
11. Mahima Rai, Horning Entrepreneurial
Skills: Role of B Schools, MBA Review -
Special edition on Entrepreneurial Skills,
Hyderabad, 2010.
12. Mohamed, S. E, Marketing in 21
st
Century,
Indian J ournal of Marketing, XXXII (11),
15-20.
13. Nandan H., Fundamentals of
Entrepreneurship, Prentice – Hall of I ndia
Private Ltd., NewDelhi, 2007
1995.
14. Nandy, A., Entrepreneurial Cultures and
4. Batra G.S., Development of Entrepreneurial Men, Economic and
Entrepreneurship, Deep and Deep
Publications Pvt Ltd., New Delhi, 2002
5. Chadha, V. and R.S. J ohar, "I ndustrial
Development of Punjab: Pattern,
Problems and Perspective", PSE Economic
Analyst, Amritsar, Vol. II, Dec., 1980.
6. Chandra, Poojary M., "Small Scale Sector:
Myth and Reality", Economic and Political
Weekly, Vol. XXXI, No.21, May, 25, 1996.
7. Dean A. Shepherd, Robert D. Hisrich, and
Michael P. Peters, Entrepreneurship, Tata
McGraw Hill Education Private Limited,
NewDelhi, 2007.
8. Entrepreneurship Skills, Special Edition,
MBA Review, IUP Publications,
Hyderabad, 2010.
9. Geoffrey G. Meredith, Robert E. Nelson,
and Philip A. Neck, The Practice of
Political Weekly, Vol. VII, No. 47,
Bombay, Nov. 1974, pp. 98-105.
15. Patrick Turner and Chris Boulton,
Mastering Business in Asia,
Entrepreneurship, Willey I ndia Pvt Ltd.,
NewDelhi, 2006
16. Surinder Kapur, Raghavendra Rao and
Sanjeev Bikhchandani, Genesis- Creating
value through entrepreneurial initiative,
Vikalpa, April-J une 2007.
17. Thomas W. Zimmerer and Norman M.
Scarborough, Essentials of
Entrepreneurship and Small Business
Management, Prentice-Hall of India
Private Ltd., NewDelhi, 2006.
18. Vijaya Banu P., Entrepreneurship
Development, Angel Printers,
Kumbakonam, 2006.
Evaluation of a fewIndian Entrepreneurs Dr.L.Suresh Mallya & Dr.N.R.V.Prabhu
About the Authors:
Dr. L. Suresh Mallya - Associate Professor
in Management, SRM Valliammai Engg.
College :[email protected]
Dr.N.R.V. Prabhu - Director, Shri
Sunshine Group of Institutions, Rajkot,
Gujarat, Research Supervisor of Suresh
Mallya : [email protected]
AMET International Journal of Management Jan – Jun 2012
doc_893354512.pdf
Critical Evaluation Of A Few Indian Entrepreneurs
AMET International Journal of Management 63 Jan – Jun 2012
CRITICAL EVALUATIONOF AFEWINDIANENTREPRENEURS
Abstract
Dr. L. SureshMallya
Dr.N.R.V. Prabhu
Entrepreneurs playa keyrole in anyeconomy. They are the people whohave the competencies and
initiative necessary to take goodnewideas to the market andmake the right decisions to make the
idea profitable. The rewardfor the risks taken is the potential economic profits the entrepreneur
could earn. He is one who creates, founds, or originates; he is an architect, author, creator,
founder, inventor, originator, parent, and patriarch. The study of entrepreneurship has relevance
because of the economic contribution of these newventures. More than increasing national income
by creating newjobs, entrepreneurship acts as a positive forcein economic development by serving
as the bridge between innovation andmarket place. Thus the entrepreneur serves as the major link
in the process of innovation, development, economic growth and revitalization. The study of
entrepreneurship and education of potential entrepreneurs are essential parts of any attempt to
strengthen this linksoessential to a country?s economic development.
KeyWords: Risk, Economic contribution, I nnovation
I ntroduction
India is a very young Nation – just
over 64 years since independence – setting
out on a path of sustained economic growth,
for decades to come. We already have over a
billion fellow I ndians. Within the next 20
years, we will have 400 million people below
the age of 35 years – more than the entire
population of the United States. Each person,
in this bold new generation, will be in the
prime of his or her life, striving for a better
tomorrow – creating, in the process, new
growth opportunities, for budding
entrepreneurs. On the most conservative
basis, our domestic consumption, in virtually
any sector, has the potential to at least
double, or treble, from current levels –
perhaps, just to catch up with a country like
China. Then, there is the entire global
opportunity, across diverse sectors
internationally; the "Made in India" tag is now
an increasingly respected brand, valued for
quality, reliability, and competitiveness. Truly,
with economic reforms in the country, and
with the virtual removal of all trade barriers,
the world is now our market – and our
opportunity. The pursuit of these
opportunities requires an indomitable spirit of
entrepreneurship.
Need for thestudy
Modern I ndia is in need of substantial growth
of the industrial and agricultural sectors for
her march towards a global power and to
successfully meet the social obligations such
as poverty alleviation, raising standard of
living, and meaningful employment to all. The
role of entrepreneurs in this aspect is highly
significant. I ndian entrepreneurs have been
instrumental in shaping the destiny of millions
by providing them employment in their
enterprises, venturing into untested arena,
and introducing innovative business
strategies. This naturally draws our attention
to investigate as to how Indian entrepreneurs
succeed in their ventures and the essence of
AMET International Journal of Management 64 Jan – Jun 2012
Evaluation of a fewIndian Entrepreneurs Dr.L.Suresh Mallya & Dr.N.R.V.Prabhu
such enquiry can be used as benchmark for
budding and aspiring entrepreneurs. Along
with 2 successful entrepreneurs, 1 case of
failed entrepreneur has also been included in
this study. This remains a testimony to the
fact that there are numerous entrepreneurs in
India, who having succeeded in venturing
into their dream projects, could not
consolidate due to various faulty strategies
and eventually met with failure.
Case-1:
Karsanbhai Patel – Nirma
Born into a farmer?s family from north
Gujarat, Karsanbhai finished his B.Sc. in
Chemistry at age 21 and worked as a lab
technician, first in the New Cotton Mills,
Ahmedabad, of the Lalbhai group and then at
the Geology and Mining Department of the
state Government. In 1969, Karsanbhai set
up Nirma, selling detergent powder. This was
an after-office business - the one-man
company would bicycle through the
neighbourhoods selling handmade detergent
packets door to door. At a price of Rs. 3 per
kg, (one third the price of leading
detergents), it was an instant success. After
three years, Karsanbhai felt confident enough
to quit his job. Later he said: “the lack of any
such precedent in my family made the
venture fraught with fear of failure. But
farmers from North Gujarat are known for
their spirit of enterprise.” Karsanbhai set up a
small workshop in an Ahmedabad suburb.
The Nirma brand quickly established itself in
Gujarat and Maharashtra.The high quality and
low price of the detergent made for great
value. Fueled by housewife-friendly
advertisement jingles, Nirma revolutionized
the detergent market, creating an entirely
new segment in economy detergent powder.
At that time, detergent and soap manufacture
was dominated by multinational corporations
with products like Surf (detergent) by
Hindustan Lever, priced around Rs. 13 per kg.
Within a decade, Nirma was the largest
selling detergent in I ndia. Since production
was labour intensive, Nirma also became a
leading employer. Since Nirma was low on
chemicals and phosphates it is more
environment friendly. After establishing its
leadership in economy-priced detergents,
Nirma entered the premium segment,
launching toilet soaps Nirma bath and Nirma
beauty soap, and premium detergent Super
Nirma detergent. Ventures into shampoo and
toothpaste were not as successful, but the
edible salt Shudh is doing well. Nirma beauty
soap is one of the leading toilet soaps, behind
Lifebuoy and Lux. Overall Nirma has a 20%
market share in soap cakes and about 35% in
detergents. Nirma also has successful
operations in neighbouring countries.
Case-2:
KochousephChittilappilly– V Guard
Kochouseph is a post graduate in Science
majoring in Physics from Calicut University.
He started his career as a Supervisor in an
electronics company, where he worked for
three years. In the year 1977, he started a
SSI Unit engaged in the manufacturing and
selling of Electronic Voltage stabilizers. For
Kochouseph, life has been a roller-coaster
ride. After a short stint at a voltage-stabiliser
manufacturing unit, he decided to start his
own venture. V-Guard scored on quality and
after-sales service. That is why it has now
become a name you can trust, he says. The
astute business mind of the physics
postgraduate sensed that Keralites would
soon buy more refrigerators and televisions,
AMET International Journal of Management 65 Jan – Jun 2012
Evaluation of a fewIndian Entrepreneurs Dr.L.Suresh Mallya & Dr.N.R.V.Prabhu
and unreliable power supply would make
them run for his product. But not everybody
shared his vision and finding capital was
difficult; banks were not impressed by his
proposal, and refused to fund him.
Nevertheless, in 1977 an undeterred
Kochouseph ventured into stabiliser
manufacturing with an investment of Rs one
lakh that his father gave him. With just two
employees, all that he could make were two
stabilisers a day. Today, Kochouseph is one
of the most successful businessmen in Kerala.
His 165-crore V- Guard group is a
household name in the State, with its flagship
stabilisers and a host of products such as
water pumps, water heaters, UPS, wiring
cables and starters. V-Guard employs more
than 4,000 people directly and indirectly. The
group includes V-Star creations, makers of
apparel ranging from designer churidars to
lingerie, and the Veega Land amusement
park. "What is more important to me (than
money) is my self-esteem, mental peace,
happiness and health," he says. Business
circles in the State would agree that this is a
sincere remark from a genuine,
straightforward businessman who values
ethics to the hilt. Kochouseph is both a leader
and a team player. “I believe that the
achievements of V- Guard group are not
entirely due to my abilities. I realize that our
managers, staff and other associates have
played a major role in bringing V-Guard to
this level,” he says. But more than anything
else, it is perhaps his penchant to be original,
passion for his brand, and a common sense
approach to management that keeps V–Guard
stand apart from the crowd.
Case-3:
R. Subramaniam– Subhiksha
Subhiksha was an Indian retail chain with
1600 outlets selling groceries, fruits,
vegetables, medicines and mobile phones -
discount stores at prices which are much
lower than other retail outlets. The name
Subhiksha means prosperity in Sanskrit. It
opened its first store in Chennai in 1997 with
an investment of about Rs. 50 Lakh. It was
started and managed by R Subramaniam, an
IIM Ahmedabad alumnus. Subhiksha planned
to open 1000 outlets by December 2008.
Subramanian also planned to invest Rs.500
crore to increase the number of outlets to
2000 across the country by 2009.
Troubles started for Subhiksha in late 2008
when the company ran out of cash, bringing
its operations to a standstill. Subhiksha faced
severe financial crisis pertaining to liquidity.
Rumours that Subhiksha was in a precarious
position started in September 2008. That
month, employees did not get their salaries.
The cash shortage eventually resulted in
Subhiksha closing its nationwide network of
1,600 supermarket stores, and defaulting on
loans, vendor payments and staff salaries. All
stores across the country were shut down.
There was no money in the bank accounts of
Subhiksha, a company which had just the
previous year claimed sales of Rs. 2,300
crore. When Subhiksha was struggling and
sought restructuring of its loans, the world
was in the middle of its biggest economic
downturn. Subhiksha did not realize that a
few stores would be profitable and generate
positive cash flows, in that troubled times. It
moved across different sectors such as
medicine, grocery, I T, mobile etc. very fast.
Instead of stabilizing and consolidating itself
AMET International Journal of Management 66 Jan – Jun 2012
Evaluation of a fewIndian Entrepreneurs Dr.L.Suresh Mallya & Dr.N.R.V.Prabhu
first in existing places and then moving to
newer locations, Subhiksha tried to be the
first in every town. Subhiksha?s bad legacy of
credit defaults resulted in supply chain
breakages – leading to situations where
sometimes the stores had very high inventory
and at others, the stocks were out. This
caused trust deficit in customers.
Subhiksha closed down in 2009 amid
allegations of defaults, non payments of
wages and bankruptcy. The people behind it
are still struggling to come up with valid
explanations. Two points are glaring as to
why Subhiksha went wrong:
o Expansion against consolidation:
With the availability of free capital and
the irrational performance of the markets,
people try anything and everything to just
expand without actually looking back at
what they have achieved. Subhiksha went
on expanding without gaining breathing
time without first consolidating their
previous successes.
o Lack of Focus: Once they see profits
they quickly try to become a
conglomerate. It is just not one company
they will run but they will create
offshoots. I n the end they forget what
they really want. I n Subhiksha?s case, it
was the lack of focus on the product mix
they were offering.
Retail is a different ball game as achieving
clear focus is difficult. Before opening the nth
store, they should have checked whether
people are buying a mobile from them or
from a specialized mobile store. The customer
would rather go to a store which has a
specialization for the thing we want to buy.
We just do not want to waste time in a shop
which offers everything and anything only to
find that they do not offer a thing which we
want.
Alas, Subhiksha which began operations in
1997 was closed down in 2009, owing to
business mismanagement and a severe cash
crunch.
Conclusion
Ambitions or compulsions alone may not
make an entrepreneur. Sometimes, the
encouragement he got from his family
members or his friends and relatives, the
experience he gained in employment, the
skills he/ she has developed also facilitate the
exercise of entrepreneurship. Many factors
may come up in the way of starting an
industry. For example, encouragement of the
family elders is very much needed in the
process of establishing a unit. I f they are
reluctant, quite naturally, it is difficult to
expect support from others including
entrepreneur's spouse. Moreover, first
generation entrepreneurs generally face
strong opposition from their parents as
occupation pursued by the family so far is
different from what is going to be done by
the entrepreneur. There are significantly
more entrepreneurs in the families of noted
social echelons, exhibiting more thrust on
their risk-taking and adventurous qualities of
their way of life. We may even conclude that
there is a clear effect of family variable on the
choice of every successful entrepreneur.
AMET International Journal of Management 67 Jan – Jun 2012
Evaluation of a fewIndian Entrepreneurs Dr.L.Suresh Mallya & Dr.N.R.V.Prabhu
References
1. Ankur Budhiraja and Dr. Bhawna
Bhatnagar, Entrepreneurship and Small
Business Management, Vayu Education of
India, New Delhi, 2009.
2. Banumathy, Dr.K., Dr. Prabhu N.R.V. and
Nagendran R., Entrepreneurship
Management and Development of Small
Business, Centre for Research and Action
for Integrated Development, Chennai,
2002
3. Batra, G.S., Entrepreneurship Business:
Failure and Turnaround Management,
South Asian J ournal of Management,
Hyderabad, Vol. 2, No. 394, J uly-Dec.
Entrepreneurship, Sultan Chand & Sons,
NewDelhi, 1994.
10. Hussain, Abid, Small Enterprises
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Evaluation of a fewIndian Entrepreneurs Dr.L.Suresh Mallya & Dr.N.R.V.Prabhu
About the Authors:
Dr. L. Suresh Mallya - Associate Professor
in Management, SRM Valliammai Engg.
College :[email protected]
Dr.N.R.V. Prabhu - Director, Shri
Sunshine Group of Institutions, Rajkot,
Gujarat, Research Supervisor of Suresh
Mallya : [email protected]
AMET International Journal of Management Jan – Jun 2012
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