Page 123 - DMGT310_ENTREPRENEURSHIP_AND_SMALL_BUSINESS_MANAGEMENT

Entrepreneurship and Small Business Management

Notes 13. A …………………….. is a relationship existing between two or more persons who join
together to carry on a trade or business.
14. The profits generated by a partnership may be distributed directly to the partners without
incurring any double …………. liability.
15. The limited liability company is a ……………. type of business structure.

Case Study Piyush General Store

he law of the sea, where big fishes eat up small fish, also applies to business (the
bigger firms throw the smaller ones out of business). But then wait-the human
Tmind possesses immense potential and is much more evolved than any other creature
in the world. Therefore, smaller players too develop themselves to challenge the bigger
players. The case incident over here discusses how Piyush Store, a 35 year old retail outlet
in Mahanagar, Lucknow grew from door-to-door bread seller to a retail shop owner and
then started losing its customers when the country was hit by the retail revolution. The
case does not end here. It discusses how Piyush Store fights back in the reverse circumstances
and then provokes you to suggest ways and means to regain its lost position of the most
sought after store in the local area.
The Background
Raghav was on his own from the tender age of 15. He began with selling breads door-to-
door. The concept of door-to-door selling might be very common now but it was unique
in 1970 and therefore Raghav got good response from the customers for the convenience
he offered. He had 35 customers in all, to whom he supplied bread and later, even
newspapers and eggs every day. Within three years he made good money, opened a store,
got married and had a son. He named the outlet after his son’s name, ‘Piyush General
Store’.
Innovative Practices

Raghav still continued with introducing innovative practices like dial-and-order, home
delivery and bulk discounts, which gave him good response from all the nearby residents
and within a short span of two years it became the much sought after store in the local area
and had been constantly growing. By the turn of 2000, he had a customer base of 650
households.
Vision
To be the best retail outlet of the town.
Mission

To provide high quality, wide range of products and services to the customers.
Objective
To seek customer satisfaction, customer loyalty and customer retention through innovative
practices.
The Product Ranges
Piyush General Store is a complete departmental store and has products ranging from:

Food and Beverages
Contd...

118 LOVELY PROFESSIONAL UNIVERSITY