ENTREPRENEURSHIP PROJECT Submitted TO – Ms. Neha BY – Mahima Sharma 50081 Priansha Periwal 50116 BBS 3 HR CULTURAL DIVERSITY AMONG ENTREPRENEURS Regardless of who you are or what you have been, you Regardlesscan be of what who you you are want or what to you be. have – W. been, Clement you can Ston be whate you want to be. – W. Clement Stone ACKNOWLEDGEMENT We owe a great many thanks to a great many people who helped and supported us during the project. The project ―CULTURAL DIVERSITY AMONG ENTREPRENEURS‖ focuses on understanding the diversity that exists among the newly emerged breed of entrepreneurs.We made an effort to understand how people from completely different backgrounds and ways of life, but with a common drive to prove their mettle, end up being their own masters. Our deepest thanks to our college professor, Ms. Neha , who acted as a constant guide and mentor in the process of drafting of this project. We would also like to acknowledge the support and enthusiasm shown by our batch mates. We would also extend a heartfelt thanks to our family and well wishers without whom this project would have been a distant dream. Group members- Mahima Sharma 50081 Priansha Periwal 50116 TABLE OF CONTENTS OBJECTIVES INTRODUCTION YOUNG ENTREPRENEURS King Sidharth Farhad Acidwalla WOMEN ENTREPRENEURS Kiran Mazumdar Shaw Ekta Kapoor MINORITY ENTREPRENEURS Oprah Winfrey SOCIAL ENTREPRENEURS Verghese Kurein Mohammad Yunus GREEN ENTREPRENEURS Pramod Chaudhari COLLEGE DROPOUTS Subhash chandra goel Azim premji CONCLUSION BIBLIOGRAPHY OBJECTIVES To study the cultural diversity existing among entrepreneurs and to analyse how people from completely diverse backgrounds can share a zeal to be their own bosses. To examine the cases of various entrepreneurs belonging to the same genre and analysing the similarities and differences that they shared. To individually analyze the journey of each entrepreneur to understand his/her idea and creativity at work and how he/she fought against the odds. INTRODUCTION If it really was a no-brainer to make it on your own in business there'd be millions of no-brained, harebrained, and otherwise dubiously brained individuals quitting their day jobs and hanging out their own shingles. Nobody would be left to round out the workforce and execute the business plan. Entrepreneurship is all about the pursuit of opportunity without regard to resources currently controlled. Entrepreneurship is thus, the process of exploring the opportunities in the market place and arranging resources required to exploit these opportunities for long term gain. It is the process of planning, organizing, opportunities and assuming. Thus it is a risk of business enterprise. It may be distinguished as an ability to take risk independently to make utmost earnings in the market. It is a creative and innovative skill and adapting response to environment. Agility and the ability to respond quickly to change are seen by many as the key advantages that entrepreneurial businesses have over their more traditional multinational competitors. In general, entrepreneurs can make decisions quickly and change direction in response to a new opportunity or threat. Cultural Diversity Among Entrepreneurs Virtually anyone can become an entrepreneur. Infact, diversity is the hallmark for entrepreneurship. The diverse mix of people who make up the rich fabric of entrepreneurship include young, women, social, minority, immigrant, corporate drop-outs, green entrepreneurs and many more. Culturally diverse entrepreneurship creates cultural value and economic wealth, self-determination and cultural diversity in communities across the globe. Such entrepreneurs are catalysts for cultural innovation through their enterprises. There have been differences in opinion about their contribution. Some ethnic minority groups have high rates of participation in entrepreneurship, despite operating in inner city environments that might have limited resources and markets. The demographic importance of ethnic minorities tells, however, they have a greater importance in entrepreneurial activity than their relative importance by population might indicate. YOUNG ENTREPRENEURS “Start today, not tomorrow. If anything, you should have started yesterday. The earlier you start, the more time you have to mess up.” – Emil Motycka THE TREND Increasingly, youngsters are accepting the possibility that being on a payroll is not the only way to go. As more and more people embrace the opportunity of creating their own payrolls, the trend towards young entrepreneurship is on a significant increase. Still in their teens and fresh to face the world, these people are all set to provide answers to problems they believe exist, without sitting back expecting solutions to emerge out of thin air. As Naresh Ram of ‗Book Lovers‘ Program for Schools‘, which looks to spread the joy of reading to school children around the city, puts it ―There are more start-ups today than ever before. We live in exciting times.‖ CULTURAL ACCEPTANCE Entrepreneurship as a viable career option is definitely a new trend in India. Our traditional understandings of success and well-being have always been undeniably linked with finding a ―stable‖ job, one that will pay the bills on time. The traditional rejection of entrepreneurship can be blamed on a ―lack of discipline and a fear of failure.‖A main factor in encouraging entrepreneurship is how one‘s culture accepts failure and risk taking. It has a direct impact on whether people will start up or not. Economic backgrounds are also at play and gender bias exists but women are equally aware and are tapping the opportunities that come their way.It would help if people realise entrepreneurship isn‘t a ‗cool‘ tag to flaunt. Don‘t start-up until you are ready to face the challenges.‖ If there was one mindset change that should happen, it would be that scalability makes all the difference between an entrepreneur and a small business owner.‖ Whether it is because of the influx of information or the ease of reaching out to the global village, today, youngsters from around the world can choose to be their own boss and dig for their own answers.It is a question of finding solutions to a problem that moves you enough.Yet, the one thing that young entrepreneurs from around the world seem to agree upon is that entrepreneurship is a way of life. While Julia claims it is a way to see the world, Naresh believes success follows only if you give it everything. Whether it be in Russia or India, entrepreneurs seem to be the emerging trend in youth employment and for good reason. If we cannot answer our own problems, who will? KING SIDHARTH, 18 THE OUTLAW ENTREPRENEUR King is a speaker, author, magazine publisher, rad dude, and he‘s organizing a conference for teenagers called Createens. It will give young people an opportunity to learn about entrepreneurship, blogging, and more from world-wide experts. THE START - As an 11-year-old growing up in a backward sector Northern India, King Sidharth and a few friends began organizing events and competitions for other children. They would make tickets and charge an entry fee, then award little prizes to whoever won. In an area where there wasn‘t much else to do, Sidharth‘s first business was a big success. Seven years later, King Sidharth has just graduated from high school and he has already made a name for himself as one of India‘s top young entrepreneurs. His primary work is in website development and design (see websites like MeditationRocks.us), but – like many young entrepreneurs – he‘s never content working on just one thing. King is also a speaker on topics of entrepreneurship and spirituality. He‘s currently writing an e- magazine for teens (Friendz) and a book about the intersection of spirituality and science (Bhagvad Gita & the Law of Attraction). He‘s also developing a movie that peeks into the lives of ten young entrepreneurs (―Friendz: The Movie‖). Lastly, King is organizing a conference for teenagers called Createens. It will give young people an opportunity to learn about entrepreneurship, blogging, and more from world-wide experts. In his own words…. Q: WHAT IS THE SINGLE MOST IMPORTANT REASON FOR YOUR SUCCESS? A: I keep everybody out of the equation and follow my own inner calling. A lot of people get caught up asking, ―What do you think, mother of mine? What do you think, father of mine?‖ But there are a thousand different people and you‘re going to get a thousand different responses: somebody pointing you South, ten people pointing you North, even more pointing East. Where are you going to go? Go with yourself. Your point of view is unique in the world. When you‘re done with your vision, then you might ask for advice on minor things. You have to strike a balance. But even after asking people, follow what you think out of it, not what they think. Take Google and Yahoo. These two are different perspectives of solving the same problem: finding content on the internet. Yahoo keeps on listening to people. Google doesn‘t give a darn. They never ask you how their home page should look like. They never ask you anything – and that is really behind their success. They do it themselves. Then later, they might ask you how they could improve it. Q: WHY DO YOU CALL YOURSELF AN OUTLAW IN INDIA? A: I consider myself an outlaw because I refuse to follow a given pattern. I’m going to reinvent the wheel. My vision of the wheel is unique. The majority of India thinks, ―I‘m here. I better play this safe because this is the only life I‘ve got. I better get in the rat race that everyone has tried and tested.‖ How many students in your own class are really interested in enterprising? Are 90% of them just there for the degree? They want to get a good job so that they can get a good life, good money, and be happy.