BUS

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Assignment #1
Submitted by: Jyotbir S. Chandhoke
Student id: 200106991 Email: Jyotbir@hotmail.com Phone: 09814019900

Date due: 2nd Feb 2013 Date Submitted: 2nd Feb 2013

University of the Fraser Valley| BBA-2

I interviewed Mr. HM Singh, the founder and Managing Director of Asias largest fiber roll manufacturer- Techaids. Mr. Singhs long spell of overcoming hardships, trapping opportunities and achieving what he desired nearly 26 years ago triggers me to interview him. With no business background or financial/mental support from family/relatives Mr. Singh has proved the fact that anything can be achieved if sincere hard work has been put in by establishing a company which no one in his family ever dreamt of. Mr. H M Singh who had a versatile Multi Industry experience after Professional Qualification in Die & Mould Making from Indo Swiss Training Centre (ISTC) ventured into import substitution of Calender Bowls & very rapidly got a overwhelming support within the country which soon spread all over the world by virtue of excellent value for money & quality on unquestioned service support to all its customers. The company primarily manufactures rollers along with a sister company offering water jet cutting services. Mr. Singh has always tried to do different things and the water jet division of the company shows it. Techaids caters to a wide spectrum of Industry like Dry & Wet Textile Processing, Textile & Paper Calendering & Embossing, Liquid Squeezing in Cold Rolling Mills, Automobile Car body press lines etc. besides highly critical area of squeezing in VSF Viscose Fiber industry. Companies like TISCO, JINDAL STEEL, NISSAN, GM, MARUTI, HYUNDAI, etc. are a few customers of Techaids. Being relatively a small company as compared to MNCs like 3M(USA), Richard Hough(UK), Techaids still is able to hold a significant position in the market and is proving to be a major challenger to 3M. Mr. Singh has always believed in the fact that one should not just grow alone- one should help others grow to. For him life is much more than monetary gains. Joy and happiness of his near and dear ones is his first priority.

What is the ONE MAJOR factor that makes for a successful business entrepreneur? One major bottleneck that restrains more professionals to be entrepreneurs? ONE MAJOR factor that makes for a successful entrepreneur is the not having the fear of being judged and learning from the setbacks experienced in life. The never give up attitude is really important. No matter how talented, creative, innovative a person is, but if they give up their dreams easily, they cant be termed as successful entrepreneurs.

What is the role and importance of an entrepreneur in society ? Is it important ? Is he / she given due credit in current Indian environment ? Whats in store for Indian entrepreneurs in future ?Is new business creation & development important for society, economy, firm and the consumers ? Why ? Entrepreneurs are a backbone of the society. Importance of entreprenuers can be felt specially in the case of developing economy. Entrepreneurs not only generate jobs, revenue etc. but they continuously thrive towards excellence which in-turn help the society. An example would be developing or introducing new technology. Indian entreprenuers have a great potential in near future. The world is getting smaller and smaller and Indian entreprenuers can definitely do better than the well established international industries if they wish to. New business developments are indeed important for the society. Consumers get different options to choose from, unemployed get jobs, and the govt. gets its revenues.

What is the importance of / how important is education, market research, understanding consumer behavior and competition, target marketing & segmentation for effective marketing - with reference to the products / services and markets in which his/her company started operations ?(please dwell on what the decision maker has to say about these concepts referred above) A. Consumer behavior and market research is really important in the market where Techaids operates. As already discussed Techaids caters to a wide variety of industries it has to deal with diverse consumers belonging to different industries and different parts of the world. Its really important to keep a track of the emerging market hubs in the ever changing market place. Not only the industries (consumers) are becoming more demanding but also the competition is becoming more and more intense.

What characteristics and what accomplishments would make one a great entrepreneur ?? Can he name three local entrepreneurs that in his/her view are great or come close to being great entrepreneurs? An entrepreneur should be innovative (should have a vision) and more over he/she should have the courage to take risks. Nothing great in life is achieved by avoiding risks. One should give up the fear of being judged because no matter what one does, they ll be some one criticizing it. Once you are successful, even the one who were against you at the first place will start supporting you. There arent two ways in this lifetime. There is one way, one path, one direction. And although we fall into may ways, and many paths, and many directions, havent you noticed that we always get guided back to the one way. Its the way that is destined for you.

Mr. Singh considers Mr. PS Sahni (founder of Windsor Packaging Ltd.), Mr. HS Cheema (founder of Cheema Boilers) and Mr. Harpal Singh (founder if Synergy Telecommunications). All them have a turnover of minimum 100 crores. Synergys turnover amounts to more than 1000 crores. Mr. Sahni and Mr. Harpal both were Mr. HM Singhs college-mates and started off their career at a similar time.

Who is an ideal he / she looks up to as an entrepreneur ? Why ?How would he / she characterise their management philosophy ?Is the entrepreneur facing more or less risk today than in times gone by ? Mr. Singh admired Late. Mr. Steve Jobs just because of the fact that he was a true visionary. What ever projects Mr. Jobs undertook, he executed it with his heart and soul into it. He simply developed what he wanted to without being stopped by others who said its impossible.

Discuss at least one decision he / she took that made him/her very satisfied and successful. Mr. Singh is satisfied of the fact that he chose to start of his business, which was opposed by his parents. His parents wanted him to join the armed forces or do a job instead of starting his own venture.