Entrepreneurship Unit 2

Entrepreneurship in India
Entrepreneurship has a long history in India, with many successful business families
and entrepreneurs who have contributed significantly to the country's economic
growth. Here are some key aspects of entrepreneurship in India:
1. Role of business houses and family business: India has a tradition of family-
run businesses that have been operating for generations. Some of the well-
known business houses in India include the Tata Group, Reliance Industries,
and the Birla Group. These business houses have played a significant role in
shaping the country's economy and creating job opportunities.
2. Contemporary role models: In recent years, a new breed of entrepreneurs has
emerged in India who are leveraging new technologies, business models, and
innovative ideas to create successful businesses. Some of the well-known
contemporary role models include Ratan Tata, Mukesh Ambani, and Flipkart's
Sachin and Binny Bansal.
3. Initiatives of the government: The Indian government has launched several
initiatives in recent years to promote entrepreneurship and create a favorable
ecosystem for startups. Some of the key initiatives include Start-up India,
Stand-up India, and Make in India. These initiatives aim to provide financial
and other support to startups and help them succeed.
4. Challenges: Despite the government's initiatives, entrepreneurship in India still
faces several challenges, such as access to capital, regulatory complexities, and
lack of infrastructure. However, with the right support and guidance, many
entrepreneurs are successfully navigating these challenges and creating
successful businesses in India.
The contemporary role models in Indian business:

In recent years, a new breed of entrepreneurs has emerged in India who are
leveraging new technologies, business models, and innovative ideas to create
successful businesses. Some of the well-known contemporary role models in Indian
business include:
1. Ratan Tata: Ratan Tata is one of the most respected business leaders in India.
He is the former chairman of Tata Sons, the holding company of the Tata
Group, one of India's largest business conglomerates. Under his leadership,
the Tata Group expanded its operations globally and diversified into several
new industries.
2. Mukesh Ambani: Mukesh Ambani is the chairman and largest shareholder of
Reliance Industries, one of India's largest private sector companies. Under his
leadership, Reliance has become a diversified conglomerate with interests in
petrochemicals, refining, oil and gas exploration, telecommunications, and
retail.
4. Sachin and Binny Bansal: Sachin and Binny Bansal are the co-founders of
Flipkart, one of India's largest e-commerce companies. They started Flipkart in
2007 as an online bookstore and have since expanded into several other
categories, including fashion, electronics, and home appliances. In 2018, Walmart
acquired a majority stake in Flipkart for $16 billion, making it one of the largest
acquisitions in the Indian startup ecosystem.
5.Bhavish Aggarwal: Bhavish Aggarwal is the co-founder and CEO of Ola, India's
largest ride-hailing company. He started Ola in 2010 as a taxi aggregator and has
since expanded into several other categories, including auto-rickshaws, bikes, and
electric vehicles. Ola is now present in over 250 cities in India and has expanded
to several international markets.
These entrepreneurs have not only created successful businesses but have also
inspired a new generation of entrepreneurs in India to pursue their dreams and
create innovative solutions to some of the country's most pressing challenges.
business philosophy and behavioral orientations

Business philosophy and behavioral orientations are two important concepts that can
help shape the approach and actions of individuals and organizations in the business
world.
Business philosophy refers to the set of beliefs and values that guide an
organization's decision-making process and overall approach to doing business. This
can include things like a commitment to sustainability, a focus on customer
satisfaction, or a belief in the importance of corporate social responsibility.
Behavioral orientations, on the other hand, refer to the ways in which individuals and
organizations approach their work and interact with others in the business world.
This can include things like a focus on collaboration and teamwork, a preference for
risk-taking and innovation, or a more conservative and risk-averse approach.
Together, an organization's business philosophy and behavioral orientations can help shape
its culture and determine how it operates within its industry and the broader community. By
aligning these two elements, organizations can develop a clear and consistent approach to
doing business that is grounded in a set of shared values and beliefs, while also being
adaptable to changing circumstances and market conditions.
Conflict in family business and its resolution
Conflict in family businesses is common, and it can arise from a range of issues,
including disagreements over strategy, succession planning, financial management,
and personal relationships. However, resolving these conflicts is crucial to
maintaining the health and longevity of the business and the family relationships
involved.
Here are some steps that can be taken to resolve conflicts in family businesses:
1. Identify the root cause of the conflict: Understanding the underlying issues
that are causing the conflict is the first step towards finding a resolution. This
requires open and honest communication between all parties involved.
2. Seek outside help: In some cases, family businesses may benefit from the
involvement of a third-party mediator or business advisor who can provide
objective guidance and facilitate constructive dialogue between family
members.
3. Establish clear roles and responsibilities: Family businesses can benefit from
having clearly defined roles and responsibilities for each family member
involved in the business. This can help to prevent misunderstandings and
conflicts over decision-making and other issues.
4. Develop a succession plan: Succession planning is an important aspect of
family business management, and it can help to prevent conflicts by providing
a clear roadmap for the future of the business and the roles of family
members within it.
5. Focus on shared goals: By focusing on shared goals and the long-term success
of the business, family members can work together to find solutions to
conflicts and build a more harmonious working relationship.
Overall, resolving conflicts in family businesses requires a combination of open

communication, clear boundaries and expectations, and a willingness to work
together towards common goals. By taking these steps, family businesses can
overcome conflicts and build a strong foundation for long-term success.
Initiatives of Government of India to promote entrepreneurship
The Government of India has launched several initiatives to promote

entrepreneurship in the country. Here are some of the key initiatives:
1. Startup India: Launched in 2016, Startup India is a flagship initiative of the

government aimed at promoting and supporting startups in the country. The
initiative includes several measures such as funding support, tax incentives,
and a single-window clearance mechanism for startups.
2. Stand-up India: Launched in 2016, Stand-up India is aimed at promoting
entrepreneurship among women and marginalized communities. The initiative
provides funding support to eligible entrepreneurs for setting up greenfield
enterprises.
3. Atal Innovation Mission: Launched in 2016, the Atal Innovation Mission is
aimed at promoting innovation and entrepreneurship among young people in
the country. The initiative includes several programs such as the Atal Tinkering
Labs and the Atal Incubation Centres to provide support for innovation and
entrepreneurship.
4. MUDRA Yojana: Launched in 2015, the MUDRA (Micro Units Development and
Refinance Agency) Yojana is aimed at providing funding support to small
businesses and entrepreneurs in the country. The initiative provides loans up
to Rs. 10 lakh to eligible individuals and businesses.
5. Digital India: Launched in 2015, Digital India is aimed at promoting the
adoption of digital technology in the country. The initiative includes several
measures such as the promotion of e-governance, digital infrastructure
development, and the provision of digital literacy programs.
Overall, these initiatives by the Government of India have played a significant role in
promoting entrepreneurship and supporting the growth of small businesses in the
country.

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Entrepreneurship Unit 2

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Entrepreneurship in India

The contemporary role models in Indian business:

business philosophy and behavioral orientations

Conflict in family business and its resolution

Overall, resolving conflicts in family businesses requires a combination of open

Initiatives of Government of India to promote entrepreneurship

The Government of India has launched several initiatives to promote

1. Startup India: Launched in 2016, Startup India is a flagship initiative of the

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