Contents

Part A................................................................................................................................................................................. 2 1. 2. 2.1 2.2 2.3 2.4 3. 3.1 3.2 4. 4.1 4.2 4.3 5. 6. 7. Introduction .............................................................................................................................................................. 2 Personal background............................................................................................................................................ 2 Gender ................................................................................................................................................................ 2 Vicarious experience : ...................................................................................................................................... 3 Education : ........................................................................................................................................................... 3 Radical change Experience : ............................................................................................................................... 3 General Attitude ....................................................................................................................................................... 3 Autonomy.............................................................................................................................................................. 4 Money ................................................................................................................................................................... 4 Domain attitude ....................................................................................................................................................... 4 Expected Payoff .................................................................................................................................................... 4 Know How............................................................................................................................................................. 4 Societal contribution ......................................................................................................................................... 5 Conviction ................................................................................................................................................................. 5 Situation .................................................................................................................................................................... 5 Intention.................................................................................................................................................................... 5

Part B ................................................................................................................................................................................. 7 1. 2. Introduction .............................................................................................................................................................. 7 Motivation and commitment .................................................................................................................................... 7

2.1 Turning a hobby into business .................................................................................................................................. 7 2.2 Prior work experience ............................................................................................................................................... 7 2.3 Impact of role model ................................................................................................................................................. 7 2.4 Exploit a possible opportunity .................................................................................................................................. 8 3. 3.1 3.2 Resources .................................................................................................................................................................. 8 Premises............................................................................................................................................................. 9 Material and equipment ............................................................................................................................... 9

Part A 1. Introduction
Intense Technologies, was started by Mr c.k shastri in year 1989. Earlier company was into sales of laptop and computers, and in year 2000 it entered in software solutions.

2. Personal background
Personal background plays a vital role in entrepreneurial behaviour of human being. It includes various aspects 2.1 Gender Vicarious experience Education Radical change experience Age Gender

participation of men and women in entrepreneurship should be interpreted with caution. Though the number of women start up have increased in recent years ,stills women account for only 25-30 % of total business ownership in western world. There are many reasons to explain performance difference between male and female owned business which includes Level of relevant business experience The propensity to take risk Industry women are involved in Difference in gender value

Women business owners are more likely to value quality and other goals not directly related to growth and performance. Hence inspite of change in role of women internationally over past few decades, entrepreneurship is still associated with masculine characteristic, such as autonomy, high energy level ,self confidence and decisiveness. (journal of business venturing)

2.2 Vicarious experience : Individual or group learn directly from there own experience i.e learning by doing or indirect experience, a process through which individuals or social unit learn to perform activities by absorbing activities of other (vicarious experience) (organisational behaviour and human decision process) 2.3 Education : Though its recognized that Entrepreneurship may be influenced by education measure, the impact of entrepreneurship education on entrepreneurial behaviour is still unclear.(Docknels,1991,kruegar and Brazeal 1994) but some studies confirm influence of entrepreneurship education on entrepreneur to start new business in a way they inform student and allow them to discover entrepreneur abilities. Education did played vital role in entrepreneurial behaviour of MR Shastri. who holds bachelors degree in commerce and post graduate diploma in marketing. (The journal of economic behaviour and organization) 2.4 Radical change Experience : It requires change in basic value of organisation The organization is required to move from known and established behaviour pattern to new behaviour of which the organization has no real experience (managing radical change (ann todd)) When Intense Technologies decided to make wipro as channel partner for promoting their product uniserve not only it changed the intense organization culture which now had influence of wipro but also there was a big uncertainty among the organisation regarding the success of this partnership , this complex situation was swiftly manage by Mr shastri with his full management skills and discipline , today intense have many new channel partners namely Infosys and Tata consultancy services.

3. General Attitude
attitude which separates employment and self employment includes Competitiveness Money or personal wealth The need for achievement Autonomy / The need for independence Competitiveness plays a key role in survival of an individual or organisation because new venture are more likely to fail than established business. The blend of aggressiveness and competitiveness are critical in survival and success of new business.

Competitive aggressiveness of Mr Shastri helped intense technologies to survive and succeed in competitive market which was dominated by big players like Adobe and Pitnybowse who were direct competitor of intense technologies.

3.1

Autonomy

Many new business fail shortly after inception and entrepreneurship as career choice does not always guarantee improved financial status, so individual who voluntarily switch from employment to entrepreneurship must be gaining something in exchange for the income they leave : the usual explanation is autonomy (croson,d,minniti m slipping the surly bonds: the value of autonomy in self employment. Journal of economic psychology ) Due to this attitude of personal independence Mr Shastri resigned from modi Xerox in 1989 and started his own firm.

3.2

Money

Though money is motivation factor for entrepreneurship , prospect of making more money typically ranks low in entrepreneurs stated motivation for founding their own firm(Bomberger,1986: cromie, 1988, Hamilton 1988)

4. Domain attitude
It includes Expected Payoff Know how Societal contribution

4.1

Expected Payoff

This index is concerned with amount of workload which entrepreneur has to bear, amount of risk he is going to take by starting new firm and the financial gain which he can expect by starting an new firm.

4.2

Know How

This index is concerned with overall business knowledge on entrepreneur posses, whether he knows what to do when he comes across good business proposal . Background factors such as education and vicarious experience play an important role in gaining business know how

Mr Shastri has always capitalize on good business proposal , firstly he moved into software solution with Intense technology when software industry was in boom, and now Mr shastri has entered in nano technology under the banner of I-Trace nano tech private limited.

4.3

Societal contribution Entrepreneur not only generate wealth for themselves , but they also create millions of job opportunity and they offer variety of consumer goods and services and generally increases national prosperity Intense Technologies currently provides job to more than 350 people and its ever expanding. Intense agility solution UNISERVE ensures that more than 70% of Indians telecom bills consume up to 30% less paper or consume no paper (through emailing and web hosting of bills) So every time an enterprise implements UNISERVE it takes the strategic decision of not creating a demand for more paper to be produced , indirectly helping environment by not creating a demand for more tree to be cut.

5. Conviction
Its a firm belief of individual that entrepreneurship is best suitable career for him , and he can manage running his own firm and entrepreneurship will be instrumental in improving his personal wealth

6. Situation (employment status)

This index is majorly concerned with employment status of entrepreneur when started the firm. As employment status are assumed to be one of the most important situational factor. Sweden is a perfect example to understand link between unemployment and entrepreneurship, In recent recession close to 30 percent of business founder of Sweden stated that avaioding unemployment was main reason to start there own firm.

7. Intention
Intention plays crucial role in entrepreneurship , even people with significant potential will refrain from transition from employed to self employed if they lack intention (Krueger & Brazeal, 1994; Krueger, Reilly, & Carsrud, 2000).

In some cases decision to start new firm is planned for some time , in some case intention is formed shortly before launch of new firm(per Davidson,1995) Studies shows that exposure to entrepreneurial peer in social environment had an effect on intention of individual to work as entrepreneur. (nanda and Sorenson ,2010) The majority entrepreneurs engage in enterprising activity after a period of employment in established organisation (nanda & Sorensen ,2010 in journal of vocational behaviour) Mr shastri worked for modi Xerox before starting his firm, so intention of Mr shastri had an influence of this peer

Part B

1. Introduction
Mr Kishore biyani changed the way Indian shop. Its a fascinating journey from small loom in Mumbai to RS 10,000 billion future group empire In the life style segment, future group operates pantaloons and central. In the value segment, its marquee brand big bazaar is a hypermarket format. The home improvement chain home town, sports retail chain planet sports and electronic retail chain e-zone are the groups major speciality retail format. 2. Motivation and commitment There are many motivations to start up a new business some individual are motivated with specific idea which they are convinced will work. Other motivational factors include.

2.1 Turning a hobby into business

Many new entrepreneurs get job satisfaction by spending time in their cherished hobby.

2.2 Prior work experience

Research confirms that founders tend to establish business in which they have prior work experience

2.3 Impact of role model

It has been long acknowledged that role model have profound influence on career decisions. Therefore role models may also enhance the desire to become an entrepreneur.

Mr Biyani was also inspired by various people in different stages of life which includes Rabindranat Tagore, mother Teresa, Albert Einstein, Sam Walton, Stephen covey, Anthony Robbins.

2.4 Exploit a possible opportunity

Identifying a product or service which will fill market gap is also common reason for starting business. Mr Biyani sighted that there was big fortune in readymade garments, an area nobody in business then had interest in. He set up his own loom, to make mens trousers. As nobody was keen on selling readymade trouser, he opened shop with his friend to sell readymade trouser. This is how first big bazaar came up in Kolkata, under the name of pantaloons in august 1997.

3. Resources
Many new firm starts with founder money, but due to limited availability of founder resource, resource are arranged from external parties i.e. bank or private investor in order to secure growth of the company. (A Schwienbacher/journal of business venturing, 2007) External sources of funds include Bank Venture capitalist Business angel Bank :- Even today banks are main source of external funding. Though there has been shift in traditional emphasis on collateral and guarantees towards the use of business plans and cash flow projection in securing loans. (David stokes and Nicholas Wilson, Text book) Venture capitalist:- venture capitalist invest only large amount , as fixed cost of project screening and monitoring make it uneconomical for venture capitalist to make small investment, this makes it difficult for entrepreneurs to seek venture capitalist finance in start up stage when they require small capital. (Theoretical analysis of optimal financing strategy ) Business angels: - Generally business angels invest amount which is require by entrepreneur to achieve intermediate milestone. (Theoretical analysis of optimal financing strategy )

3.1 Premises In a start up situation , the location and type of premises becomes an important decision. Following consideration should be taken into account when choosing premises Place should be easy to commute Easy access to skill labour Proximity to centres of population: key factor for retail and hotel business Cost of rent an rates

3.2 Material and equipment Purchasing of material and equipment is a key management activity in firms, especially manufacturers and retailers Material further can be classified into Goods to be sold Consumable item Similarly equipment can be classified into Production machinery and equipment Communication equipment Office or retail furniture Mr Biyani used his family funds in initial stages and he used loom which was owned by his family for producing mens wear. Mr Biyani is spot with his choice for retail outlets which is prominent with success of all retail shops opened under the umbrella of future group

The idea in a relation to a market

Market consist of customer who are willing and able to to bye product/ service to satisfy there needs. New product ideas need to be based on the needs of customer if they have to be accepted. One of most common reason given to failure of business is that they did not identify needs of the customer or they fail to identify customer for the product There are two approaches by which enterprise developed products or service for market: Product based Market based Product based :- In this approach companies are primarily concerned with product development ,which some time lead to successful products by chance, which find a market

Market based:- on other hand in market based approach , companies find out needs of customer and what is he willing to pay for it . this approach does not leave success to chance as it does market research on first place and then develop product or service accordingly

A successful approach to the market, which fills a gap in market Idea Product/service Market opportunity Resources available

Identifying customer : It is possible for customer focused companies to fail, if they fail to define precisely who is there target customer. Companies often assume that product or service have universal appeal which might not be the case. Successful companies carefully target customer group referred to as segment and specialized subdivision of segment referred to as niches. Mr biyani was always fascinated by consumers In our business , it is not about what we feel good about. It is about what consumer like It was his understanding of emerging Indian society and these consuming habit which gave birth to shopping centres/ mall India where people could purchase variety of goods under one shelter. Mr biyani always had emerging Indian middleclass as there targeted customers. Abilities and skills Entrepreneurs possess following skills Leadership skills Communication skills Human relation skill Management skills Analytical skills Hiring skills

Leadership Kishore Biyani is considered a pioneer of modern retail in India. Kishores leadership has led the groups transformation into Indias leading player in the consumption. Communication Mr Biyani loves to communicate with consumers to understand psyche of Indian consumers and there purchasing habits

Analytical skills Mr biyani has showcased his analytical skills in analysing the needs of Indian customers and there will to pay for those needs Hiring Skills While hiring people Mr biyani looks for logic and creativity, he believes in hiring those individual who has ability to use both side of the brain left(logical) and right(creativity). Plan and strategy Every new start up should have some type of unique selling proposition other than price that is not easily duplicated by competitors (Improving new venture performance the role of strategy) New venture strategy should include Opportunity recognition Competitive advantage Survival strategy Future plan & strategy

Mr Biyani quickly recognise the big opportunity in retail sector and came up with the concept of shopping malls in which traditional Indian consumer would get every house hold item under one shelter instead of going to number of shops to purchase it. This idea was instant hit and outpaced the competitors in growth . Future Ideas is a team which works continuously on consumer insight and incubates ideas for the group, whether is for a new business or for modifying an existing one. Mr Biyani has plan to enter into education with building leadership and entrepreneurship school which will redefine the education . He is also looking at hospitality industry as most of the hotels in India are built with western concept. He want to create Indian style hotels with western aesthetic, sensibility and efficiency.

Mr Biyani strategy is aimed at achieving inclusive , sustained and profitable growth with three levers : customer orientation, continues innovation and collaboration transformation. Organisation and administration Organisation can only achieve their goals and objective by the co-ordinated efforts of their member. It is the task of management to get the work done through other people. Four main elements of administration are Planning Determine the broad lines of carrying out operation ,preparing methods by which they are carried out.

Control Checking actual performance against standards to ensure satisfactory progress and performance. Co-ordination Balancing and maintaining the team by ensuring a suitable division of work and seeing that task are perform in harmony Motivation Motivating member of the team whenever required . It is only because of effective management under the guidance of kishore Biyani future group has reached where it is today. Some of the key people in future group are Anshuman singh: he is responsible for future supply chain limited. Ushir bhatt: He is responsible for handling all the IT in future group Vibha rashi: She leads the marketing, communication and customer strategy. Santosh Desai: He leads the advertising for future group.