COM-502 E&VC - Unit 1 for Students (PDF)

Unit 1 Introduction to Entrepreneurship For Students of M.Com Semester I [COM-502 Entrepreneurship and Venture Capital] 1  Role of Information in making calculated decisions What you know about the World Geography? What you k...

Unit 1 Introduction to Entrepreneurship For Students of M.Com Semester I [COM-502 Entrepreneurship and Venture Capital] 1  Role of Information in making calculated decisions What you know about the World Geography? What you know about the Ancient Civilizations? What you know about the Time-Line [how far you can go back to the past] What you know about Business / When and how Business started? Who was the pioneer in Business? What makes India different from rest of the world? How much you know about: (1) Academic Brainwashing [1000 CE onwards onwards], (2) Socialist/Marxist/Communist Ideology [18th & 19th Century onwards], (3) How much you know about Religion (Conversion / Missionary Inquisition) [33 & 622BCE onwards] (4) How much you know about Eurocentric Narrative [1000 CE onwards – 1857 & 1961] 2  Points for Discussion What is Business (Adventure – M/M/M/M) – Role of Finance (Capital) Role of Information in making calculated decisions. How much we know about our history Adventure Capital = Venture Capital = Not a modern concept but ancient = Entrepreneurship Role of Creativity = Idea Business and its Nature (M/M/M/M) Bridging the Gap between Science & Market Place = Birth of an enterprise The person The Process  The Outcome = Entrepreneur  Entrepreneurship  Enteprise What is Economic Transformation Dynamics of Venture Capital Catalyst for Socio-Economic Transformation Evolution and Economic Impact of VC 3 How much we know about our history? – What evidence we have …………. Evidences of Ancient: Civilizations Travel Knowledge & Wisdom Agriculture Migration Ithihasas [Ramayana & Mahabharata] Time line 4  Evidence of Civilizations [Knowledge & Wisdom] But which one is the Ancient and also Living [Saraswati / Indus Valley Civilization] What was the Knowledge and Wisdom (K&W) known that time [anything and everything] What was the ancient Belief / Faith [Animism, Nature & Idol Worshipping] [All living things, natural resources, human urges/feelings considered as Gods] [Mainly to protect and preserve + to have unity + to have a purpose + to share K&W] How and in what way K&W spread [Travel and Tourism] How and in what way the K&W got destroyed [New Belief / Faith – Europe /Far East] Which one still processes ancient Knowledge and Wisdom [Indus / Hindu Kush / India] [Complete documentary evidence of all branches of K&W] Which one still practicing the ancient Belief / Faith [Indus / Hindu Kush / India] [Only6/li2v7in/2g0a2n4cient civilization still practicing all traditional rituals] 5 Evidence of Civilizations MT 2K research papers [Knowledge & Wisdom] But which one is the Ancient and also Living [Saraswati / Indus Valley Civilization] [On6ly/2l7iv/i2n0g2a 4ncient civilization still practicing all traditional rituals] 6 Evidence of Ancient Travel [Trade / Healthcare / Spirituality / Education] People from beyond Hindu Kush Mountain Ranges = Hindus The faith “Sanathana Dharma” followed is termed as Hinduism Sanathana Dharma = consider everything given by nature as GOD – consider everything as equal – Vasudaiva Kudumbakam – Adhiti Devo Bhava – Ahimsa 7 1940 Evidence of Knowledge and Wisdom What Makes Indus Different ? Language: (Sanskrit) Music:: Saptasvara / 7 basic notes – Sa (Mercury) – Re (Mars) – Ga (Sun) – Ma (Moon) – Pa (Saturn) – Dha (Jupiter) – Ni (Venus) Medicine: Yoga, Ayurveda including Surgery – Charaka & Sushruta Samhita Literature: Vedas / Upanishads / Mahakayas (Ramayana & Mahabharata) Science: Almost all fiends of study. All ancient civilisations gained knowledge through TRAVEL Mathematics (0 / Decimal System / Binary / Ruler Measurements) Astronomy (Surya Siddhanta ) Architecture (Samarangana Sutradhara ) Physics (5 elements / Atom / Gravity / Heliocentric Theory) Chemistry (Steel / Zinc / Iron-Cased Rockets – Metallurgy) Biology – Plant & Animal Science (medicinal plants of Ayurveda / Agriculture / Environmental & Biodiversity Conservation) Aviation & Astronautics (https://en.wikipedia.org/wiki/Vaim%C4%81nika_Sh%C4%81stra) Political Science & Economics (https://en.wikipedia.org/wiki/Chanakya) Socio6lo /2g 7/y2,02 P4sychology, Bio-diversity (Manu Samhita, Bhagavad-Gita) 8 Ancient Indian Knowledge & Wisdom Schools of Thought The movement from the level of Self Management to Creation of a Uniform World order is through creation, exchange and transfer of knowledge at various levels. It is this knowledge which is instrumental in relating the individual to the larger society or the universal order. The Six-Fold path constitutes the following steps: 1 Knowledge creation (jnana sristi) 2. Knowledge acquisition (jnana prapti) 3. Knowledge transfer (jnana parivahana) 4. Knowledge sharing (jnana sahabhajana) 5. Open innovation (mukta navaracana) 6. Spiritual Congruence (adhyatmika samanjasya) 6/27/2024 9 Evidence of Agriculture / Cattle / Mice Advanced Civilization having developed Agriculture 2019 2015 2019 2016 2018 2018 Origin to spread of Zebu Cow 10 Evidence of Agriculture / Cattle / Mice 11  Evidence of Migration from Indus Valley Civilization / Saraswati Civilization 2017 – 5700 BCE 2013 – 25000 BCE 2014 – 4500 BCE 12  Evidence of Migration from Indus Valley Civilization / Saraswati Civilization 1st wave = Out of Africa 2nd wave = Out of India Putative migration waves out of Africa and back migrations into the continent, as well as the locations of major ancient human remains and archaeological sites (López et al.2015). 6/27/2024 13 Evidence of Mahabharata and Ramayana: [Ithi ha Aasa = that’s how it happened = Ramayana & Mahabharata Its not only HISTORY but also Knowledge about all branches of studies Sanathana Dharma = Dharma / Artha / Kama / Khroda / Moksha] 14  Evidence of Time Line: Indus Valley Civilization = Indus Nature Worshipping = Vedic Civilization The place = Indostan The people = Indus = Hindus Sanathana Dharma = Equality Faith / Belief = Hinduism 15 Role of Creativity = Idea Business and its Nature (M/M/M/M) Bridging the Gap between Science & Market Place = Birth of an enterprise The person The Process  The Outcome What is Economic Transformation 1 IDEA = Imitation / Innovation / Invention 4 Doing something in an extraordinary way which make life easier 2 Entrepreneur  Entrepreneurship  Enterprise 16 Role of Creativity = Idea Business and its Nature (M/M/M/M) Bridging the Gap between Science & Market Place = Birth of an enterprise The person The Process  The Outcome What is Economic Transformation Market Place ADVENTURE + CAPITAL 18 Role of Creativity = Idea Business and its Nature (M/M/M/M) Bridging the Gap between Science & Market Place = Birth of an enterprise The person The Process  The Outcome What is Economic Transformation Entrepreneur  Entrepreneurship  Enterprise Role of Creativity = Idea Business and its Nature (M/M/M/M) Bridging the Gap between Science & Market Place = Birth of an enterprise The person The Process  The Outcome What is Economic Transformation Science Market Place All PROFIT comes from CUSTOMERS ADVENTURE + CAPITAL So if no profit – no business And no customers – no profit Then no customers = no business Therefore: CUSTOMERS are BUSINESS Entrepreneur  (Person – gets all 4 M’s) Entrepreneurship  (Process – mixing all 4 M’s  brings Science to Market Place) Enterprise  (Outcome – emergence of business houses which satisfies customer needs) 6/27/2024 19 Role of Creativity = Idea Business and its Nature (M/M/M/M) Bridging the Gap between Science & Market Place = Birth of an enterprise The person The Process  The Outcome What is Economic Transformation IDEA = Imitation / Innovation / Invention Role of E/I/G 1. Innovation 2. More Money 3. More Technology 4. More Production 5. More Wages 6. More Consumption 7. More Savings 8. More Money 20 VICIOUS CYCLE OF POVERTY  Breaking VCP – Innovation [Schumpeter] INNOVATION Growth Agents = Population 1.New Product 1.Students 2.New Method 2.General Public 3.New Market 3.Agencies 4.New Source of RM 5.New Partnership Growth Agents: 1. Entrepreneurs 2. Intrapreneurs 3. Government  Role of Creativity = Idea IDEA = Imitation / Innovation / Invention Business and its Nature (M/M/M/M) Bridging the Gap between Science & Market Place = Birth of an enterprise The person The Process  The Outcome What is Economic Transformation Wadia Family Business Empire (283 Top 10 Exciting Indian Startups Years) | How big is Wadia Group? | Founded by Women Entrepreneurs Nusli Wadia | Ness wadia Godrej Family Business Empire | How big is Godrej Group? How Mumbai-based women How street food made me a Millionaire | Entrepreneurs made a 1600 Cr Success Story | Venkatesh Iyer empire from 80Rs Top 5 Women Entrepreneurs in India | Women Entrepreneurs Success Stories Birla Family Business Empire | How big is Birla Group? | Aditya Birla Group Hero Business Empire (40+ Countries) | Hero MotoCorp | Hero Cycles | Hero Group | Munjal Amul Success Story | Amul Tata's Business Empire Part Business Model | Amul The Taste 1 (100 Countries) | Ratan of India | Case Study Tata | How big is Tata? Lakshmi Mittal Business Empire (World's biggest steelmaker) | How Bajaj Family Business Empire | How big big is ArcelorMittal? is Bajaj Group? | Jamnalal Bajaj Himalaya Brand Story: Mukesh Ambani Business Empire Promoting Ayurveda on (Richest in Asia) | Reliance Industries | How big is Reliance? Nirma, a success story written by Infosys Business Empire (45+ Global Canvas 6a/2 Countries) | How big is Infosys? | 21 Karsanbhai P te7l /f 2 or0h2i4 s daughter Narayan Murthy | Sudha Murthy