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Entrepreneurship in India PDF

297 Pages·2022·6.302 MB·English
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Entrepreneurship in India Entrepreneurship in India Dr. Deependra Sharma Dean & Professor Unitedworld School of Business Karnavati University, Gandhinagar Gujarat, India. First published 2023 by Routledge 4 Park Square, Milton Park, Abingdon, Oxon OX14 4RN and by Routledge 605 Third Avenue, New York, NY 10017 Routledge is an imprint of the Taylor & Francis Group, an informa business © 2023 Contributors and Manakin Press The right of Contributors to be identified as authors of their work has been asserted in accordance with sections 77 and 78 of the Copyright, Designs and Patents Act 1988. All rights reserved. No part of this book may be reprinted or reproduced or utilised in any form or by any electronic, mechanical, or other means, now known or hereafter invented, including photocopying and recording, or in any information storage or retrieval system, without permission in writing from the publishers. Trademark notice: Product or corporate names may be trademarks or registered trademarks, and are used only for identification and explanation without intent to infringe. Print edition not for sale in South Asia (India, Sri Lanka, Nepal, Bangladesh, Pakistan or Bhutan) British Library Cataloguing-in-Publication Data A catalogue record for this book is available from the British Library Library of Congress Cataloging-in-Publication Data A catalog record for this book has been requested ISBN: 9781032378589 (hbk) ISBN: 9781032378602 (pbk) ISBN: 9781003342281 (ebk) DOI: 10.4324/9781003342281 Typeset in Times New Roman by Manakin Press, Delhi Foreword “Entrepreneurship” has been a buzzword for quite some time but it has not yet been able to assume the shape of a mass movement, especially in India. There has also emerged a good amount of literature on this subject but even this too has failed to evoke the desired response. To say this is not to say that entrepreneurs are not there in our country, they are there but not to the desired extent. India is rich in natural resources and further that today it has the largest number of young people - a good number of whom are engineering and management graduates - and is likely to be so in the near future as well. Though many of them are talented but the spirit of entrepreneurship is, by and large, missing. There may be a number of factors that may give rise to this sort of spirit but one such vital factor is the availability of a good book that presents a vivid picture of the concept of entrepreneurship and all other relevant issues that may prompt the youth, especially the budding managers, not only to take a dip into the ocean of entrepreneurship but also to swim effectively and successfully to undertake the journey of entrepreneurship to its logical ends. It is here that the book entitled, ‘Entrepreneurship in India’, comes into vogue. It is my pleasure to state here that the book in question is a beautiful and meaningful exercise in presenting the complete anatomy of entrepreneurship in a packed volume as it is before the readers. Besides explaining the concept and meaning of entrepreneurship initially, the author endeavours to spell out the process of entrepreneurship and identifies opportunities available, in addition to presenting feasibility analysis. Going further and having explained the intricacies of a business plan, the author ventures into presenting industry and competition analysis. How to build a new venture, especially the financial, funding and marketing issues involved, the importance of intellectual property rights, challenges of business growth and how to tackle them, are some of the other issues that are dealt with in the right perspective. A very important factor rarely touched upon by others, v pertains to the ethical aspect being faced by the new ventures, in addition to social entrepreneurship, has been given a fairly good treatment. I deem it my privilege to write a foreword for the present treatises on entrepreneurship which is written in a good mix of lucid and ostentatious style and gives readers a whole gamut of exposure to an interesting subject of entrepreneurship. Prof (Dr) RC Sharma (Ex-Professor Emeritus) Amity Business School, AUG) Founder Vice Chancellor Amity University, Gurugram vi Preface Studying and practising entrepreneurship is gaining importance across the world including India. It is acknowledged as a highly beneficial activity not only for the entrepreneurs but also for the economies in which they start their ventures and conduct their operations. I am thrilled about this book because it has been observed that even during challenging economic conditions, currently because of COVID-19, start-ups are conceptualizing and offering new products and services that make lives easier, more productive and healthier for the world citizens. In this book, while discussing the characteristics of an entrepreneur, readers will recognise that entrepreneurs are some of the most zealous and inspirational people they would ever meet. It is evident by the fact that Infosys was found in garage or in a hostel room like Facebook. Further, passion an entrepreneur has about a business idea is more critical than posh offices for the success of any new venture. But, it should be noted that only passion and motivation alone are not sufficient. One needs to have right information at the right time, a feasible business idea, and the knowledge to execute the business plan effectively and efficiently to ensure success. This book will offer practical guidance as how to launch a successful and growth oriented entrepreneurial venture by following the entrepreneurial process. The process includes opportunity recognition and conducting feasibility analysis. It is critical for the success because many a time the idea entrepreneur tries to bring to the marketplace is not representing the right opportunity. The entrepreneur needs to understand the difference between idea and opportunity. Therefore, the main objective of this book is to sensitize the reader about the various steps involved in the entrepreneurial journey of setting up a new venture. It will enhance the success probability of the start-up as the entrepreneur would be able to appreciate thoroughly not only the various steps involved in the entrepreneurial process but also will learn how to effectively and efficiently follow those steps to bring desirable results. Editor vii Contributors List 1. Amit Kumar Marwah, Professor, Acropolis Institute of Technology and Research, Indore (MP). 2. Amruta Desai, Freelancer, Marketing & Creative Ventures. 3. Bhavesh P. Joshi, Professor, Manav Rachna International Institute of Research and Studies, Faridabad (India). 4. Himani Singhal, Assistant Professor, DPGITM, Sector 34, Gurugram. 5. Kumar Abhishek, Assistant Professor (MBA Dept.) & Assistant Registrar (Academic), Dr. Abdul Kalam Technical University, Lucknow. 6. Manisha Gaur, Assistant Professor, Swami Vivekanand College of Engineering, Indore (MP). 7. Manisha Gupta, Assistant Professor, Associate-Professor School of Business Studies, Sharda University, Greater Noida. 8. N K Sharma, Principal, Vivek College of Management and Technology, UP. 9. Nandita Mishra, Dean & Professor, MITCON Institute of Management Pune. 10. Rajesh Kumar Pandey, Associate Professor, SSR IMR, Silvassa Affiliated to SPPU, Pune. 11. S Anjani Devi, Assistant Professor, GITAM Institute of Management, GITAM (Deemed to be University), Visakhapatnam. 12. Sakha Gangadhara Rama Rao, Assistant Professor, GITAM Institute of Management, GITAM (Deemed to be University), Visakhapatnam. 13. Sanjeev Malaviya, Assistant Professor & Faculty Coordinator, ICFAI Business School, ICFAI University Dehradun. 14. Soni Sharma, Assistant Professor, Birla Institute of Management Technology. ix

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