Speech of Mr. Virendar Mohan Trehan at 5th National Level Techno Cultural Symposium " Parivartan-2k10" organised by Chandigarh Group of colleges (CGC), Landran & Gharun (Mohali) on 11th November, 2010 on Entrepreneur Development.

I am pleased to welcome the students, faculty and other guests present here.

The Founder of Chandigarh Group Of Colleges (CGC) has a very clear vision to emerge as the most preferred educational group with global recognition developing competent and socially sensitive leaders committed to excellence!

I am glad that today more than 7000 students are a part of this Institution and getting education in different streams.

It is the first time, I am addressing the students of different streams simultaneously and the subject I have chosen to speak is Entrepreneur Development

In these competitive times – whichever field you are involved in – you have to excel to enjoy a successful career!

This is the mission of your Institution in which you have plunged to study in a specific faculty.

Literally ENTREPRENEUR is the one - who manages an Enterprise!

According to Webstor’s Dictionary, an ENTREPRENEUR is one - who organizes, manages and assumes the risk of business or enterprise.

According to the Oxford Dictionary, it is explained as:

• Risk Taker – who has skill and initiative to establish business
• One who starts a business venture that promises economic gain even though it entails risk
• A person who organises and manages Enterprise
• An employer of productive labour / contractor
• One who organises, manages and assumes all risks of running an Enterprise
• ENTREPRENEUR is also the one who is enterprising which means: Adventurous / Ambitious / Bold / Courageous / Daring / Determined / Energetic / Enthusiastic / Keen to develop / Spirited, A Visionary like Founder of this College Mr. Satnam Singh Sandhu!

An ENTREPRENEUR, in my opinion, is not the one who owns business but the one who works on ownership basis! - Mr. NandanNilekani of INFOSYS – worked with Mr. Narayana Murthy

Every time the organisation is taken over by new generation, it develops, expands, grows enormously. They are the ENTREPRENEURS!

Therefore, ENTREPRENEUR is one who loves to develop and not be dormant.

Look at Mr. LaxmiNarayanMittal – Steel Tycoon! About 40 years back, I met his father Mr. Mohan Mittal at International Chamber of Commerce. At that time, I came to know that his major business was in Indonesia and he was trying in couple of other countries, originating from Calcutta. But his next generation – Mr. LaxmiNarayanMittal has developed the organisation manifold and perhaps is the largest steel producer in the world! Mr. LaxmiNarayanMittal is an ENTREPRENEUR!

Mr. M L Aggarwal owner of HaldiRam, started with one shop at ChandniChowk but since last decade, their packs are supplied worldwide. You go to any country, in the hotels you will find Haldi Ram’s Namkeen, etc The current generation i.e his son PankajAggarwal is, therefore, an ENTREPRENEUR!

Mr. Sharad - an IIM student in Ahmedabad got an excellent offer to join Multinational company with almost Rs. 10.00lacs per month salary but he refused because he was developed to this stage by his mother. She was a widow hailing from a lower middle class family. She raised money by making and selling Idlis to pay her sons’ fees for his professional course. Therefore, son had undertaken the mission that he will develop the business which his mother had started and today, he has quite a few restaurants/outlets for Idlis - running into crores!

The ENTREPRENEUR had a mission to serve his mother who is now the Chairperson. He ensures that she gets all comforts and respect because she had developed him as a real ENTREPRENEUR.

Mr. Deepak Parikh of HDFC has developed HDFC in the last 10 years that has engulfed 2 more banks – Punjab Bank Ltd, and Centurion Bank

Ms. IndraNooyi, CEO, PepsiCo Inc belongs to a small middle class family from Chennai. She started her career from India as a low profile Product Manager at Johnson & Johnson and Textile firm MetturBeardsell Ltd. After her graduation, she did her Management from Indian Institute of Management and also picked up Masters Degree in public and private management from Yale University. Now she is CEO of PepsiCo Inc. She is an ENTREPRENEUR. She had the vision to manage large organisation of Pepsi. One of the most powerful business women in the world!

Mr. VikramPandit, the present appointed Indian CEO of Citibank has worked up his way to become CEO of Citibank. He has overcome the recession period boldly and during this period, he has reduced his salary to $ 1 per month to set an example and now he is considered as a very successful Entrepreneur.

• Mr. AzimPremji- Wipro
• Mr. S. Ramadorai, CEO – Tata Consultants
• Mr. RusiMody – Tata Steel
• Dr. AmitMitra – Secretary General of FICCI
• Mr. Dasgupta, Former Secretary General of ASSOCHAM & now ACC Chairman
• Col. S P Wahi, Former Chairman, ONGC
• Mr. V Krishnamurthy, BHEL
• Mr. DhirubhaiAmbani
• Mr. R Gopalakrishnan, Executive Director, Tata Sons & so on…are the other known Entrepreneurs of our country!

As your Institution also deals with Hotel Management, I want to give an example of Hotel TajMahal. I am one of their customers - who has been travelling all over the world - and fond of observing! Since after the Management was taken over by Mr. R Gopalakrishnan, all working changed, within 3 months - excellence in food / service was obvious – that means you do not have to ask for it, it was existing. Now this tradition is carrying on.

When you go to a First Class Hotel, you expect things to be of First Class. Prior to his taking overall management, this was not happening.

Obviously, Mr. R Gopalakrishnan is now at a higher level and managing perhaps more enterprises for better management in the Tata Group.

I have given above few examples. Half of them started their business or their parents started and they are the second generation or third generation belonging to that business family, but other half just joined the company and developed in their business.

I personally know several professionals working in public sector and other organisations – who have achieved wonders even though, in general, we may have different impression about the Public Sector Industry. This further clarifies that these entrepreneurs meant development of their business whether they are employees or shareholders.

I give hereunder few points as to what are the qualities/ basic traits needed for development of an ENTREPRENEUR:

MISSION – one must have a goal to achieve.FOCUSED GOAL / APPROACH

With the opportunities becoming so huge and competition faced globally with the global players everywhere – to develop fast we must pick up a field and focus / concentrate on its development.

Please remember, in life, particularly, in the current age of information technology, even Govt of India and various agencies know about you more than what you know about yourself. I give you another example:

LEADERSHIP – A leader is: Secured, Capable, Promotes others also

SELLING THE IDEA

SELF EVALUATION

HUMBLE – HUMILITY (Say sorry if there is a mistake)

RESPONSIBLE

COMMITMENT

MORAL VALUES – which means you are sincere, no cheating, honesty etc.

ENERGETIC (Good health)

IDLENESS / SICKNESS

TRUST

LOYALTY between Management and Employee

INNOVATIVE – new ideas, unique ventures. Example – one person started soft drinks supply at the Petrol Station. Should welcome changes / new ideas!

VISIONARY ENTREPRENEUR - Twenty five years ago Texas Instruments took a chance on setting up an R & D centre in India. Today there is hardly a product at TI Worldwide not touched by innovation done by engineers in India. Texas Instruments has proved to be visionary entrepreneur !

COMMUNICATION SKILL

SELF CONFIDENCE

SENSE OF URGENCY

CHALLENGES

LUST for development (not for money. Money will follow)

WILL TO LEARN: EDUCATIONAL QUALIFICATION: Business Management, Technical, General Management, Through School / College / Family / Society.

Above all, whether we are Entrepreneurs, Teachers, Students, Managers, we have to ensure that whatever we do is enjoyable and we derive fun out of it. So far, we love what we do, we will develop in that field and will grow not only to our own satisfaction but according to the need of the hour – development of your self, Family and your Country!

I would like to say a few words about ROLE OF TEACHERS.

In today’s scenario, Teachers have to be more enterprising than the students. There are so many things coming up every day in every field that if they are not updated, then sometimes they have to cut a sorry figure before the students.

A good Teacher will not mind if a student is ahead of him in knowledge. In fact, he should be able to accept it and give credence to the student for the knowledge, which he has shared with the teacher and other students.

Recently, US President BarackObama has been in India and one of the finest speeches given by any dignitary has been delivered by him. For us - it is an encouraging - that today we are looked upon as the dignified citiziens of the world. The world is looking towards us as a hope.

As Barack Obama said :-

“ Despite thesceptics who said that this country was simply too poor, too vast, too diverse to succeed, you surmounted overwhelming the odds and became a model to the world … The lesson is clear: India has succeeded, not in spite of democracy; India has succeeded because of democracy… “

We, Indians are basically great entrepreneurs. As we had a chance in the last two decades to exploit our capabilities, we showed America and Europe that in the last years’ debacle on International economy, India was not affected and this was possible with the freedom and controls.

Finally, I would like to say something about DHARMA. I don’t mean Dharma as RELIGION. I mean Dharma as an eternal adaptation of rendering service to ethics!

Dharma has been accepted as global ethics, which means - respect life and dignity, individuality and diversity so that every person is treated humanely without exception, irrespective of cast, creed, religion and nationality!

I hope that students coming from different places will make this “Parivartan-2K10” programme a great success.

I thank the President and Founder of the Chandigarh Group of Colleges to invite me and wish you a great success in your endeavour !

Jai Hind !!!!!

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