The New Age Entrepreneurs

Lala Lajpatrai Institute of Management

Jagdip kaur

Subject : Entrepreneurship Management Book: The New Age Entrepreneurs

Roll No. : 2011130 MMS II / Sem IV

Submitted to: Prof. Nookala

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Q.1 What are the significant features of the book titled THE NEW AGE ENTREPRENEURS+? Ans: From the Mint Business Series come snippets from the journey of new age entrepreneursHave you wondered what goes on in the heads of entrepreneurs? What makes them tick? The New Age Entrepreneurs provides a peek into the lives of thirty successful entrepreneursincluding N.R. Panicker of Accel Ltd, Ramachandra Galla of Amaron, and M. Murali of Sri Krishna Sweetswho established flourishing businesses borne out of innovative ideas. These trailblazers delved into diverse industries, ranging from information technology to luxury hotels and Indian sweets.With snappy, insightful, and motivating tales, interspersed with interviews and vivid profiles, The New Age Entrepreneurs is a collection of vignettes of men who made their own rules and set standards for the rest of the industry to follow. Various Mint journalists, like Vidya Pdmanabhan and Yogendra Kalavalapalli, have put together stories of new age entrepreneurs. Mint is a business newspaper from HT Media Ltd, launched in collaboration with the Wall Street Journal. It is a premium business news publication aimed at decision-makers and policymakers of the country and it is the first newspaper in India to be published in the Berliner format. I am always asked this question whenever I share any new idea, Well, your idea sounds good, but why no one else has done this before? The simplicity of idea astonishes anyone; the answer to the question might be that idea as such doesnt matter much but the person, who holds the idea, actually defines it in success. The different look and mentality of the person can change the whole success rate of the idea; this book helps to imagine what it takes to become an Entrepreneur. It always fascinates to know the stories behind any success or inspiration or even failure. The struggle with which any person achieve experience can motivate even a lay

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man to achieve his dreams. The book has introduced us with thirty Entrepreneurs covering thirty different businesses with thirty success stories to savor. The profiles of the Entrepreneurs were very carefully and smartly chosen, focusing on southern part of India. Actually, the book might be about bringing hidden gems of southern India to our radar. Though disappointingly, poor writing and execution has weakened the sort of vision of Publishers. In India we always tend to look things at quantitatively rather than qualitatively. This book showed same syndrome of failure. Instead of delivering the best, qualitative part was forgotten in midst of commercialization of the book. The idea of covering thirty Entrepreneurs was nave since space was limitation and each Entrepreneur due to which got less than deserved place. Even if we go with the idea of covering so many Entrepreneurs, the writing should have been very smart, what was restricted with the lack of space could have been covered by elegant writing. The stories are filled with statistical data, which make no sense since it is shown on standalone basis without any measure to compare. The pages just felt like fill up instead of having an interesting and engaging read. If you have no or very little idea what Entrepreneurs are then this book is for you. A took away from the book for me were Networking opportunities. To know that there are people who could appreciate your ideas and might even invest in them might be the USP about this book for me. The stories were too technical for non-industry people to understand. I have listed below the companys name and industry covered below, choose the industry you have curiosity or pre knowledge and read about it. It is something publishers should have done for the convenience of the readers. Q&A covered only four to five questions with the entrepreneurs which were sort of disappointing. It was a decent effort from the publishers who meant business. The

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motivation to write book and vision was good, but much better communication was required between different people involved in the project. 1. 2. 3. 4. 5. 6. 7. 8. Accel Frontline Pvt Ltd Information Technology Amara Raja Batteries ltd Manufacturer of lead acid storage batteries Applabs Technologies Pvt. Ltd IT testing services. Bharat Biotech International Ltd Vaccines and bio-pharmaceuticals Consim Info Pvt Ltd Online Classifieds, Primarily Matchmaking Services. CGH Earth Group of Hotels Ethnic Hotels and Resorts DQ Entertainment International Ltd- Animation EKa Software Solutions Pvt Ltd Commodity trading and risk management

software 9. 10. 11. Greenko Group Plc Renewable Energy Johnson Lifts Elevators and Escalators Manufacturing Manappuram Group Gold loans, Vehicles Loans, asset Finance, Foreign transfer, gold retail, healthcare

Exchange, money 12. 13. 14. 15. 16.

Health Services Pvt Ltd Pharmacy Retail Mu Sigma Decisions sciences and analytics services Neuland Laboratories ltd API manufacturing and contract research Next Wealth Entrepreneurs Pvt Ltd Outsourcing Services Opto Circuits India Ltd Medical Technology Manufacturing

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17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30.

Pure Chemicals co Chemical Trading Ramraj Cotton Textiles, Dhotis, shirts and innerwear Sri Krishna Sweets Sweet stores and food products Stovekraft Pvt ltd Kitchen Appliances. Suguna Poultry Poultry Farming Eggs, Broiler Chicken and Processed meat. TD Power systems Ltd Generator Manufacturing Tejas Networks Ltd Telecommunications Networking products Tirumala Milk Products Ltd Dairy Products. Trivitron group of companies Medical equipments TVS Logistics Services Ltd Logistics Solutions. Updater Services Ltd Facilities management services. Vasan Healthcare Pvt Ltd Day- care, Primarily eye care, hospitals. Va Tech Wabag Ltd Water Technology Via Travel.

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Q.2 Analyze the significant entrepreneurship qualities wrt book THE NEW AGE ENTREPRENEURS Ans. Successful businesspeople have many traits in common with one another. They are confident and optimistic. They are disciplined self starters. They are open to any new ideas which cross their path. Here are ten traits of the successful entrepreneur. 1. Disciplined These individuals are focused on making their businesses work, and eliminate any hindrances or distractions to their goals. They have overarching strategies and outline the tactics to accomplish them. Successful entrepreneurs are disciplined enough to take steps every day toward the achievement of their objectives. 2. Confidence The entrepreneur does not ask questions about whether they can succeed or whether they are worthy of success. They are confident with the knowledge that they will make their businesses succeed. They exude that confidence in everything they do. 3. Open Minded Entrepreneurs realize that every event and situation is a business opportunity. Ideas are constantly being generated about workflows and efficiency, people skills and potential new businesses. They have the ability to look at everything around them and focus it toward their goals. 4. Self Starter

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Entrepreneurs know that if something needs to be done, they should start it themselves. They set the parameters and make sure that projects follow that path. They are proactive, not waiting for someone to give them permission.

5. Competitive Many companies are formed because an entrepreneur knows that they can do a job better than another. They need to win at the sports they play and need to win at the businesses that they create. An entrepreneur will highlight their own companys track record of success. 6. Creativity One facet of creativity is being able to make connections between seemingly unrelated events or situations. Entrepreneurs often come up with solutions which are the synthesis of other items. They will repurpose products to market them to new industries. 7. Determination Entrepreneurs are not thwarted by their defeats. They look at defeat as an opportunity for success. They are determined to make all of their endeavors succeed, so will try and try again until it does. Successful entrepreneurs do not believe that something cannot be done. 8. Strong people skills The entrepreneur has strong communication skills to sell the product and motivate employees. Most successful entrepreneurs know how to motivate their employees so

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the business grows overall. They are very good at highlighting the benefits of any situation and coaching others to their success. 9. Strong work ethic The successful entrepreneur will often be the first person to arrive at the office and the last one to leave. They will come in on their days off to make sure that an outcome meets their expectations. Their mind is constantly on their work, whether they are in or out of the workplace. 10. Passion Passion is the most important trait of the successful entrepreneur. They genuinely love their work. They are willing to put in those extra hours to make the business succeed because there is a joy their business gives which goes beyond the money. The successful entrepreneur will always be reading and researching ways to make the business better. Successful entrepreneurs want to see what the view is like at the top of the business mountain. Once they see it, they want to go further. They know how to talk to their employees, and their businesses soar as a result. Many writers have penned essays on the characteristics, behaviors, values and attitudes that spell success for the entrepreneurial leader. My top 10 list goes further, blending the theoretical, practical and the common sense based on 25 years Ive spent in the field assessing, coaching and consulting leaders. The successful leader has a vision: Think things through and know where you want to go and how you want to get there. Work with others to ensure a vision is followed through. Direct the actions and resources toward making it a reality.

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The successful leader communicates well: Articulate a vision clearly to others. Encourage two-way communication between managers and non-managers and always be available to others. Strive to be succinct and specific about directions and instructions. Above all, a good leader avoids generalizations and ambiguities that can lead to misunderstanding, conflict and poor performance.

The successful leader supports and guides the employees: Start by helping others clarify and achieve goals by identifying and removing any obstacles. Provide the resources (time, money, people, information and equipment) needed to complete the task. Dont reprimand others who make mistakes when taking a well-calculated risk. Instead, critique and analyze what went wrong and what went right. Next, work with the employee to correct the error. Decide whether another attempt at a previous goal is necessary, and offer encouragement if it is. During the entire process, provide appropriate feedback to ensure positive attitudes and actions. Serve as a model of good attitude and use approaches that others can emulate.

The successful leader believes in his/herself: A good leader possesses a strong sense of confidence, built upon years of learning, experimenting and at times failing but always growing. Be aware of personal strengths and limitations, and demonstrate those skills and talents without boasting. Assume responsibility for faults and personal errors without hiding them or blaming others, and know that if a mistake occurs, it does not equate inadequacy. A successful leader believes that he or she can turn around a negative situation by re-examining the variables and other circumstances with input from others, when necessary.

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Q.3 Name the most two inspiring entrepreneurs from THE NEW AGE ENTREPRENEURS and support views. Ans. 1. N
Chairman & CEO

Panicker

N.R.Panicker is the visionary behind Accel Group. When everybody cherish to become a top executive in a corporate company after completing professional education, Panicker quit his well-paid job at the peak of his career in 1991 to setup his own company in a humble way with a group of 5 professionals who worked with him and a vision to create one of Indias most respected IT Services Company. In a span of 20 years he has moulded Accel into an institution that is currently employing over 4000 professionals operating from 7 countries. A professional to the core, he attributes his success to the initial training and experience he had while working for HCL Group for over 14 years and his ability to see a big picture of every situation.

N.R.Panicker is a graduate engineer from CET, Trivandrum of the 1976 batch. Apart from being a mentor and CEO for Accel, he is active in professional organizations such as TiE, Nasscom, CII and several charity organizations. Accel Charities Foundation, which he founded in 2011 focuses on education for the poor and geriatric care DR.RAMACHANDRA N GALLA Chairman Amara Raja Batteries Ltd.

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Dr. Ramachandra N. Galla is the Patriarch of an illustrious business family of Andhra Pradesh, Gallas, who have established a name for themselves by successfully setting up Amara Raja Batteries. Born in 1938, Dr. Ramachandra Galla is an Electrical Engineer from S.V. University, Tirupati and has to his credit Masters degrees in Applied Electronics, Roorkee, India and Systems Sciences, Michigan State University, USA.

Dr. Galla started his career as an Electrical Engineer in US Steel Corporation, USA moved on to Sargent & Lundy, USA as a Consulting Engineer for the Designing of Nuclear & Coal Fired Power Plant. He initiated various projects in these corporations & mastered the ropes of this competitive business in a very short time. However, he soon discovered that his natural inclination was serving his country and as a logical sequel he gravitated towards Chittoor his native place in India. Dr. Galla laid the foundation of Amara Raja batteries in 1985 in Chittoor. With his intense zeal and highly focused approach, he propelled Amara Raja Batteries in the top league of battery companies in India.

In his capacity as the Chairman, Dr. Ramachandra Galla has promoted and established the following companies from the conceptual stage which are now well established and profit making: Amara Raja Batteries Ltd Amara Raja Power Systems Ltd Mangal Industries Ltd Amara Raja Electronics Ltd Amara Raja Infra (P) Ltd Amaron Batteries (P) Ltd Amara Raja Industrial Services (P) Ltd

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Dr Galla's finest hour as a businessman came in 1998 when he was presented BEST ENTERPRENEUR OF THE YEAR 1998 by Hyderabad Management Association, Hyderabad. He has been bestowed with honorary doctorate degrees from Jawaharlal Nehru Technical University in 2008 at Hyderabad & Sri Venkateswara University in 2007 at Tirupati. He has also been conferred with THE SPIRIT OF EXCELLENCE award by Academy of Fine Arts, Tirupati, and various other prestigious awards.

He is passionate about a corporates responsibility to society as well as championing eco-friendly business practices. Dr. Galla has established various charitable trusts like Krishna Devaraya Educational & cultural association (KECA), Rajanna Trust, Mangamma & Gangul Naidu Memorial Trust. He is dedicated to rural development and improving the economic conditions of the farmers in Chittoor District, Andhra Pradesh, India. KECA which was established in 1975 provides scholarship to the poor and needy students to pursue their higher education. While Rajanna Trust that was established in 1999 to construct check dams and deepening the tanks to improve the ground water levels. MANGAL TRUST was established in 2003 to provide drinking water facilities, constructing check dams & providing infrastructure facilities to Petamitta and surrounding villages.

A committed family man with wife, two children & grand children, he loves spending time with his family and participating in society development project.

Mike Lawrie President & Chief Executive Officer

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Mike Lawrie was appointed to CSCs Board of Directors in February 2012 and joined CSC as President & Chief Executive Officer on March 19, 2012. He is a seasoned IT executive with a reputation for revitalizing complex global companies to deliver increased shareholder value by driving operational excellence, client-centric strategies and championing innovation. He comes to CSC from UK-based Misys plc, a leading global IT solutions provider to the financial services industry. Under Mr. Lawries leadership at Misys, the company experienced significant increases in revenue growth and client satisfaction, improved operational margins and solid returns to company shareholders. Mr. Lawrie also served as the Executive Chairman of AllscriptsMisys Healthcare Solutions, Inc., from October 2008 August 2010, and was instrumental in several strategic mergers that vaulted the company to a prominent leadership position in healthcare IT solutions. Prior to Misys, Mr. Lawrie was a general partner with ValueAct Capital, a San Francisco-based private investment firm, from 2005 2006. He also served as Chief Executive Officer of Siebel Systems, Inc., the international software and solutions company, from 2004-2005. Mr. Lawrie also spent 27 years with IBM where he rose to Senior Vice President and Group Executive, responsible for sales and distribution of all IBM products and services worldwide. From 19982001, Mr. Lawrie was General Manager for IBMs business in Europe, the Middle East and Africa, which included operations in 124 countries and 90,000 employees. Prior to that, Mr. Lawrie served as General Manager of Industries for IBM's business operations in Asia Pacific, based in Tokyo. Mr. Lawrie is currently the lead independent, non-executive Director of Juniper Networks, Inc., and is also a Trustee of Drexel University, Philadelphia. He holds a B.A in History from Ohio University and an M.B.A from Drexel University in Philadelphia.

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Krishna M. Ella Ph. D. CMD, Bharat Biotech. Dr. Krishna Ella is the Chairman & Managing Director of Bharat Biotech International Limited.

After early education in Agricultural Sciences, Dr. Ella studied at the University of Hawaii and the University of Wisconsin-Madison. Following a brief stint as a research faculty at the Medical University of South Carolina-Charleston, he returned to India and set up Bharat Biotech International Limited, a multidimensional biotechnology company specializing in R&D, manufacturing and marketing of vaccines and biotherapeutics for human use. Today, Bharat Biotech is one of the leading innovative R&D Companies, with 45 global patents, of which 5 are for new molecules. Bharat Biotech has been funded (>300 crores) by various agencies like DBT, CSIR, DST and Bill & Melinda Gates Foundation.

Dr. Ella is an accomplished scientist with expertise in gene knock-out and expression systems. As an entrepreneur with over two decades of experience in product development and manufacturing, he has recently ventured into other areas like veterinary vaccines (Biovet), food processing (Innova Agri Bio), functional foods (Century Biologicals), contract research services (RCC Labs) and developing biotechnology infrastructure (Konark Bio Park).

He has received several awards for his academic recognitions like the Rotary Fellowship, and the National Research Service Award of the National Institute of Health, U.S.A. Further, he has been honoured for his entrepreneurial skills with awards such as, J.R.D. TATA Best Entrepreneur of the Year and Marico

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Innovation award received from the Prime Minister of India, among several others.

Dr. Ella is also involved in shaping Indias science education and policy as well as International collaboration by being a Member, Advisor or Chairman of numerous committees. The prominent ones among these include Five Year Plan for Biotechnology, Human Resource and Innovation, National Biotech Policy, High Technology Cooperation Groups, National Task Force in Industrial Biotechnology, National Council of IPR. He has recently been nominated as a Member of the Scientific Advisory Committee to the Prime Minister of India.

Mr. Tapaas Chakravarti DQ Entertainment International Chairman and CEO

Mr. Tapaas Chakravarti (Tapaas) has converted his over 20 years of International Corporate Management & Product Innovation skills and experience to shape the success story of his creation, DQ Entertainment, the Animation and Games & VFX Production Power House, which is largest such company in the world for its capacity and quantity of productions for TV, DTH Video, Feature Film and Games FMV/Assets.

Fourth in family of five children, Tapaas comes from a traditional Indian family where education takes precedence over everything else. As a result of this, from an early age he was exposed to a whole range of literature, right from Bengali classics to Hindi and English literature. All this success and international recognitions have come at a price. Being fourth son of an honest Class I Govt.

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Officer, he had to support himself to achieve his dream of higher studies where he had to take private tuitions with his day starting at 4:00 am and ending mostly at midnight. Some of his students were from his own age group. Right through the University and Business Management Graduation this continued along with his passion for studies, excellence in Table Tennis and usual fanaticism towards cricket.

His passion for reading and collecting comic books, English and Hindi continued until his college days, which finally got lost in his pursuit for higher education and career building.

His extensive International travels to US and friendship with animation and art fraternity finally got fruition in 1999 when the deep yearning in his heart to create an Animation, Gaming and Visual effects studio happened at the cost of relinquishing his well settled consulting business and a dream journey begun as DQ Entertainment. Mr. V.P.Nandakumar Managing Director & CEO of Mannapuram Group

Mr. V.P. Nandakumar is a post graduate in science with additional qualifications in Banking & Foreign Trade. Immediately after completion of his education, he joined the erstwhile Nedungadi Bank Limited. In 1986, after 10 years of service as an officer of the Nedungadi Bank, he resigned from the Bank to take over the family business, upon the demise of his father, and the founder of Manappuram Mr. V.C. Padmanabhan.

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Shri Nandakumar's vision is to make the Manappuram Finance Ltd a powerhouse in the financial services sector and become one of the best run companies in the country.

B.Brahma Naidu Managing Director of Tirumala Group

He is the Managing Director of Tirumala Milk Products Pvt. Ltd., based at Narasaraopet, Guntur District, Andhra Pradesh, India.

Mr. Naidu hails from a farming family and started his career at a young age of 18 with a transport business. In 1992, when Government of India de-licensed Dairy Industry which enabled establishment of dairies in private sector, he opened a Milk Chilling unit in partnership with Mr. B. Nageswara Rao and Mr. D. Brahmandam. Later based on the market research and demand he planned to sell milk in packets under the brand name of "THIRUMALA" in Chennai city by hiring a Milk Processing Plant. Subsequently, a packing plant was established in the year 1995 at Vellalacheruvu Village, Santhamagulur Mandal, Prakasam District and establishment of other dairy plants at GUDUR, PALAMANERU, BHIMADOLU, HYDERABAD, VIZAG & CINGEE (T.N) followed.

To meet the growing demand for Tirumala Milk and Dairy Products is instrumental in setting up chilling centers and bulk milk centers which are operational for procurement of Milk.

Mr. Naidu monitors day-to-day operations and develops strategies for continuous improvement of quality, efficiency and Business Development.