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Unit 3: Entrepreneur v/s Intrapreneur

Entrepreneurs sense opportunities since they are creative and are open to the new ideas, they Notes
seek challenges even at the time of smooth running of the operations. [Like Kushagra Bajaj of
Bajaj’s Hindustan; after coming back from US in 2000 with a master’s degree in management, he
found a big opportunity in the sugar industry in India. The demand for sugar was on rise and
there were 100 sugar mills declared sick out of a total of 553 mills in the sugar industry. He took
this problem as an opportunity and took Bajaj Hindustan to the top notch position in 2005, in the
process, becoming the leader in sugar industry in India].

3.1.2 Establish a Vision

Merely seeking opportunity is not enough; an entrepreneur further moves to establish a
vision – a dream for future which can be achieved only if opportunities are tapped at the right
time. He has complete faith in his vision and it is quite clear to him i.e. he can visualize his own
optimism. Even if some market forces change, he would readjust his vision to keep his dream
viable and fruitful. And believe it, entrepreneurs have big visions, something which others
might consider as impossible.

Example: Steve Jobs and a group of 20 young engineers created the Macintosh Computer
without any adult supervision.
Dhirubhai Ambani of Reliance had dreamt that he would put a mobile phone in every individual’s
hand, and the rest is history. [We all know that today, even vegetable-sellers, farmers, milkmen,
gardeners etc. are all carrying mobile]. Dreaming this big in a poverty-stricken country like
India needs guts.

3.1.3 Persuade Others

An entrepreneur does not work alone; he understands that multiple skills are required to make
business successful. Kathleen Alen, an American academician calls this phase of entrepreneurial
process ‘forming the foundation team’ i.e. an entrepreneur forms a group of individuals who
would work together to realize his dream. An entrepreneur prepares a business plan to make
the vision and means of achieving the vision clearer to ‘the others’ who would join the team.
These individuals are not just the skilled people who would join in, but also include financiers
and even family members who put in their trust in the entrepreneur. Like Narayan Murthy of
Infosys was supported by wife for financial and psychological backing and was joined by couple
of friends – who together lead to what Infosys is today. These trusted people are still part of
Infosys and are still working together for the further growth of business.

3.1.4 Gather Resources

Identifying an opportunity, establishing a vision and persuading others to join is not enough;
a business enterprise needs resources to become successful. This is the phase, which can convert
an entrepreneur’s dream into realty. Although we are presenting this process as it happens step
by step, implying that issues pertaining to resources are considered here, the reality is that part
of the early evaluation of the concept will inevitably involve a preliminary evaluation of
whether it can be properly resourced.
Resources can be considered under four categories:

Financial
Operating
Human
Information

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