Case Studies of Successful Entrepreneurs
An organisation exists solely as a result of the efforts of an individual who is willing to take on the burden of running the company with him. To do so, the individual must possess a specific trait called entrepreneurship.
Entrepreneurship arises and works as an economic activity in a sociological and cultural context. It might be thought of as an individual’s free choice activity or as the occupation or profession of a social group. Entrepreneurs play an important role in a country’s economic growth. They have been described as the human actors required to raise money, utilise natural resources, develop creative goods or concepts, establish marketplaces, and conduct business.
A successful entrepreneur is always familiar with relevant advancements and changes that occur in society around him and is equipped to keep up with the changing requirements of society. They are the focal point around which all other production variables, productive resources, and procedures must revolve. They combine skills, talents, and motivation to turn resources into successful companies. Personality and cultural or societal characteristics have been linked to entrepreneurial behaviour in studies of entrepreneurs. The entrepreneurial person possesses characteristics such as self-confidence, persistence, measured risk-taking capacity, determination, a need for accomplishment, optimism, and a like for challenges. What distinguishes an entrepreneur from a successful entrepreneur are his accomplishments in his sector of business.
1. AJAY PIRAMAL -PIRAMAL ENTERPRISES LIMITED
Piramal Enterprises Limited, India’s Chairman, is Ajay Piramal. Piramal went from owning an almost-defunct textile firm to being the Chairman of an Rs.4,000 crore conglomerate that includes Nicholas Piramal, India’s fourth-largest pharmaceutical company, Morarjee Weaving and Spinning, and Gujarat Glass.
In 1988, he learned via a friend that Nicholas Laboratories, an Australian multinational corporation departing India, was for sale. There were many huge suitors, but Piramal chose to meet with Mike Barker, the guy in charge of selling the firm, and informed him that he had no record, was only 33 years old, but was certain of putting Nicholas among the top five pharma companies in India (from 48th at that time).
Through a series of international acquisitions, including the Indian operations of Roche, Boehringer Mannheim, Rhone Poulenc, ICI, and Hoechst Research Centre, he propelled the firm into the top five pharmaceutical corporations in India. Piramal is delighted to announce that a decade later, armed with Nicholas’ annual report, he went to meet Barker in retirement in Kenya, where the firm was ranked among the top five pharma companies in India.
2. AMAR BOSE – BOSE CORPORATION
Amar Gopal Bose, who was born in 1929, is the founder and chairman of the Bose Corporation. He was a $1.8 billion net worth American electrical engineer of Bengali heritage who was included on the Forbes 400 in 2007.
He concentrated his study on acoustics, which led him to design a stereo loudspeaker capable of reproducing, in a household setting, the predominately reflected sound field that defines the audience’s listening space in a concert hall. Bose was given substantial patents in two categories that are still vital to the Bose Corporation today. These patents included loudspeaker design as well as non-linear, two-state modulated, Class-D power processing.
In 1964, he founded his firm with the help of angel investors, including his MIT thesis adviser and Professor, Dr Y. W. Lee (who invested his life savings in the effort). Today, the Bose Corporation is a diverse organisation with over 12,000 workers worldwide that manufactures products for home, vehicle, and professional audio as well as doing basic research in acoustics, automotive systems, and other domains.
3. SHAHNAZ HUSAIN
Shahnaz Husain is a successful female businesswoman in India. Her firm, Shahnaz Husain Herbals, is one of the world’s leading makers of herbal goods. It develops and markets approximately 400 products for diverse aesthetic and health requirements, and it has a global presence ranging from the United States to Asia.
The Shahnaz Husain Group, situated in New Delhi, was valued at $100 million in 2002. It employed around 4200 workers across 104 countries in 650 salons. In the 25 years that the Group has been in operation, it has experienced rapid growth. In the early years, the average growth rate was 15-20%. The average growth rate in the 1990s was 19.4 percent.
She has conquered marketplaces all around the world, and now she wants to conquer space. Shahnaz Husain has begun work on formulations that astronauts may bring with them on their intergalactic journeys to preserve their skin from the rigours of space flight and halt the ageing process. She has offered NASA complimentary samples of her moisturisers in the hopes that they would be utilised on future space missions. Shahnaz Husain is a successful female businesswoman in India. Her firm, Shahnaz Husain Herbals, is one of the world’s leading makers of herbal goods. It develops and markets approximately 400 products for diverse aesthetic and health requirements, and it has a global presence ranging from the United States to Asia.
4. SAMEER NIGAM
In today’s India, PhonePe is analogous to digital payments. Sameer Nigam and his co-founders, Rahul Chari and Burzin Engineer, developed this industry leader of a UPI-based digital payments platform in December 2015.
Sameer Nigam graduated from The Wharton School with an MBA in Entrepreneurship. Following his education at DPS Noida, Sameer went on to pursue Computer Engineering at the University of Mumbai, followed by a Masters of Science in Computer Engineering from the University of Arizona, and ultimately an MBA in 2009.
Before developing Mime360, an online social media distribution network, Sameer worked as the Director of Search Product Development at Shopzilla for a little over 6 years. Mime360 was eventually acquired by Flipkart, where he returned as Senior Vice President, Engineering, but departed after a year and a half to build his firm, PhonePe.
4. RICHA KAR
Richa Kar is the face of Zivame, one of India’s top online lingerie businesses. Richa was born in Jamshedpur to a traditional family. Kar was an engineering student who graduated from BITS Pilani and afterwards took a corporate job in Bangalore. Richa subsequently quit her employment to acquire an MBA, and after that, she worked for Spencers Retail and later SAP Retail.
Her experience in the retail sector aided her in developing knowledge and practical skills that are useful in the retail industry. Richa was captivated by Victoria’s Secret, America’s largest retail firm for women’s lingerie, and its success while working with SAP. As a result, she had little support from her family, but with her strong will and desire to create a business, she eventually founded Zivame with Kapil Karekar in 2011.