In India the retail industry is large, and it will continue to grow. The industry has a huge appetite for investments and is already seeing a lot of action on that front. A large number of global retailers are eyeing to get a share of the Indian retail pie. This report aims to aid them. Global retailers are today operating in India with the help of a domestic partner. Some are participating in front-end operations and some are planning to run the back-end and let the Indian partner operate the stores. But when the FDI restrictions are removed they would want to operate their stores independently. This report helps them prepare for that scenario well in advance. The objective of the report is to analyze the scenario in the retail industry in India and recommends winning strategies to Global retailers. An entrepreneur is a person who has possession of an enterprise, or venture, and assumes significant accountability for the inherent risks and the outcome. It is an ambitious leader who combines land, labor, and capital to create and market new goods or services. The term is a loanword from French and was first defined by the Irish economist Richard Cantillon. Entrepreneur in English is a term applied to the type of personality who is willing to take upon her or himself a new venture or enterprise and accepts full responsibility for the outcome. Entrepreneurship is often difficult and tricky, as many new ventures fail. The word entrepreneur is often synonymous with founder. Most commonly, the term entrepreneur applies to someone who creates value by offering a product or service. Entrepreneurs often have strong beliefs about a market opportunity and organize their resources effectively to accomplish an outcome that changes existing interactions.
[...] In 1991, when the Indian economy was being opened up, Naresh Goyal took advantage of Open Skies Policy of the Government of India and set up Jet Airways for the operation of scheduled air services on domestic sectors in India. Jet Airways started commercial operations on May Benjamin Franklin. In a real sense, Franklin was America's first entrepreneur. Unlike other of the Founding Fathers the hypermoral Washington, the prodigiously intellectual Jefferson whose virtues and attainments are seen today as anachronisms, Franklin truly was a model of what many of us would become. [...]
[...] Promotion of Entrepreneurship Entrepreneurship education seeks to provide students with the knowledge, skills and motivation to encourage entrepreneurial success in a variety of settings. Variations of entrepreneurship education are offered at all levels of schooling today. What makes entrepreneurship education distinctive is its focus on realization of opportunity, where management education is focused on the best way to operate existing hierarchies. Both approaches share an interest in achieving "profit" in some form (which in non-profit organizations or government can take the form of increased services or decreased cost or increased responsiveness to the customer/citizen/client). [...]
[...] History of entrepreneurship The understanding of entrepreneurship owes much to the work of economist Joseph Schumpeter and the Austrian economists such as Ludwig von Mises and Friedrich von Hayek. In Schumpeter (1950), an entrepreneur is a person who is willing and able to convert a new idea or invention into a successful innovation. Entrepreneurship forces "creative destruction" across markets and industries, simultaneously creating new products and business models. In this way, creative destruction is largely responsible for the dynamism of industries and long-run economic growth. [...]
[...] But most important outcome of organizational entrepreneurship is long term: an organization that is better able to adapt and survive.” Internet entrepreneur Internet entrepreneur is an entrepreneur that engages in business on the Internet and helps to shape the future of business on the Internet by being an innovator. One who is able to recognize opportunity and administer resources to take advantage of the opportunities. A pioneer of new technologies and someone who is responsible for the ideas and processes to develop and implement large projects that will inevitably shape the future of the Internet market place. [...]
[...] Business incubation has been identified as a means of meeting a variety of economic and socioeconomic policy needs, which may include Creating jobs and wealth Fostering a community's entrepreneurial climate Technology commercialization Diversifying local economies Building or accelerating growth of local industry clusters Business creation and retention Encouraging women or minority entrepreneurship Identifying potential spin-in or spin-out business opportunities Community revitalization Business opportunity A business opportunity , or bizopp , involves the sale or lease of any product, service, equipment, etc. [...]
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