Entrepreneurship — Winter 2019

Explain the competencies of successful entrepreneurs with reference to any successful entrepreneur.

Explain the procedure for setting up a business enterprise.

What is the role of Entrepreneurship in economic development of a country or region?

How male entrepreneurs differ from female entrepreneurs? Explain the differential context with an example of your choice.

What are the various institutional support and incentives provided by the Government of India to promote SSI.

Discuss the institutions supporting women’s entrepreneurship in India.

Write a short note on Start-ups in India. Page 1 of

How much do you think Angeera’s retaliation towards her clients, MR’s and suppliers justified?

What is the problem in the case?

CASE STUDY: WOMEN'S WOE Vishal and Angeera had started their dream project, “Pragati Medical Store” a retail outlet for pharmaceutical products. Vishal started his job as a cadet in Indian Army 15 years back and had risen to the post of Colonel. Unfortunately, he lost his left arm during Kargil War. This was a critical time for both Vishal and Angeera for they had to take a decision about what to do next? Vishal was no fit to work in army; the pension given by government was not enough to support the family of five. And since hehad joined army at an early age immediately after his 10+ 2 he had no other formal training to look for an alternative career. But Angeera, his wife had done her graduation in pharmacy. She suggested that they could open a pharmaceutical retail outlets, she was qualified enough to get a license to open the drug store and was willing to venture into something that both of them could together start. So they opened ‘Pragati Medical Store’. Angeera did the entire ground job, got the license, visited the doctors in the nearby area, persuaded the doctors to recommend her store to their patients, stocked the store with all the medicines prescribed by the doctors. Vishal and Angeera were a perfect duo for the store, Vishal looked after the accounts and Angeera looked after the PR with doctors, the marketing and sales and maintenance of the stock. The store started of well and made good gains in the first two quarters, Angeera was putting in lot of hard work as she was taking care of all the marketing, sales, purchase and PR. What came to her as a surprise was the behaviour of the dealers (who were supplying medicines). Medical representatives and customers was very cold towards her. They found dealing with her very distasteful, as it was the men’s field, without exception all the stores in town except for Pragati were managed by men. In fact, most of them requested and a couple of them demanded that they wanted to deal with her husband. She was so shocked by their behaviour, technically she was the qualified one and it was for her efforts that doctors were recommending Pragati Store to buy medicines but the customers, Medical Representatives and suppliers of medicine would equivocally say ‘Is Vishal not around’. She really got annoyed and lost her temper at times and scorned at them, “What on earth makes you believe that Icannot handle your queries. It is for people like you that women are not getting the respect they deserve. Iam more qualified than your Bhaisahab to run this shop and Iam the one who has brought this dream to a reality but you guys want to deal with Bhaisahab. You better get out of this place as this place belongs to me – Iam the owner of ‘Pragati Medical Store’ and Iam the one who will write its fortune. So get lost.’ Later on Angeera was very upset and sat wondering “Is India actually developing? Are women’s really getting liberalized? Why have women not been able to earn the respect for earning their living?”

Do you think women in India are liberalized enough to become entrepreneurs? Page 2 of

What are your recommendations to Angeera?

CASE STUDY: AWANG’S DILEMMA Awang was a real craftsman when it came to bring a machinist. Awing had learned almost all that he knew from Daud, his first and only employer. Awang was married and had three young children. In 12 years, Awang had polished his skills under the watchful and critical eye of Daud. Daud was quick to recognize Awang’s talent for the trade. Awang had a positive attitude about learning and displayed a drive for perfection that Daud admired. Daud’s Machine shop was a successful small business. Its success was based mostly on the reputation for quality that had been established over its 42 years in operation. Daud had come to this country with his new wife, Salmah, when he was in his late twenties. Now the business was a success, but Daud remembered the early years when he and Salmah had to struggle. Daud wanted the business to continue to produce the highest quality craftsman products possible. On a Friday evening, he called Awang into his office at closing time, poured him a cup of half-day-old coffee, and began to talk with him about the future. “Awang, Salmah and Iare getting old and Iwant to retire. It was been 42 years of fun but these old hands, need a rest. In short, Salmah and Iwould like you to buy the business. We both feel that your heart is in this craft and that you would always retain the quality that we have stood for.” Awang was taken back by the offer. He, of course, knew Daud was getting older, but had no idea Daud would retire. Awang and his wife, Timah, had only RM4200 in the bank. Most of Awang’s salary went for the normal costs of rearing three children. Daud knew Awang did not have money to buy business in cash, but he was willing to take proportion of the profits for the next 15 years and a modest initial investment from Awang. Awang had, for the past four years, made most of the technical decisions in the shop. Awang knew the customers and was well respected by the employees. He had never been involved in the business side of the operation. He was a high school graduate but had never taken business course. Awang was told by Daud that even after deducting the percentage of profits he would owe under the sales agreement, he would be able to almost double his annual earnings. Awang would have to take on all the business functions himself because Timah had no business training either.

Which entrepreneurial characteristics does Awang have that may be important to success?

Which characteristics could lead to Awang’s failure?

What specific steps would you recommend to Awangfor him to better assess this opportunity?

How you see this case? Describe in short summary form. Page 3 of