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Assignment of Entrepreneurship and Project Management

Added on - 04 Oct 2021

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ASSIGNMENT
OF
ENTREPRENEURSHIP AND PROJECT
MANAGEMENT
SUBMITTED TO:SUBMITTED BY:
DR. VARINDER JIT RAIANKITA THAKUR
CLASS – MBA 2(A)
ROLL NO : 201105

TOPIC :- SUCCESS STORY OF AN
ENTREPRENEUR (LOVELY GROUP)
From a sweet shop to Rs 800-crore
diversified group – It's a 'Lovely'
family business
Running into it’s generation, Punjab-based
20 member family business that still resides
together in their ancestral 40-year-old home.


Image credit: Entrepreneur.com
It is hard to remain uninspired by theclassic rags-to-riches taleof
LovelyGroup.Itis even harder to imaginea laddoo-maker shaping
academic careers ofaround 30,000 studentsatLovely Professional
University (LPU).Started with a sweet shop with Rs 500 as loan by late
Baldev Raj Mittal in 1961, Lovely Group today isaround Rs 800-crore
group with interests lying ineducation, sweets and automobile (auto)
dealership categories.Mittal left his jobunder a military contractorand
startedLovely Sweets in a 10x10 small shop, making andselling laddoos
inJalandhar Cantonment in 1961. Competitive rates, mouth-watering
taste and the fact that it was a shop instead of a traditional ‘halwai’
(sweet-maker) stall, madeMittal’s tiny business flying.
Let’s start their success story from their word of mouth.
Baldev Raj Mittal, father of theLPUfounderstartedLovely Sweetsin1961which
later became a brandnamein Jalandhar. He started his business with'Lovely Sweet
Shop'in Jalandhar cantonment'sSadarBazaarand later went on to become the
founder of 'Lovely Group'. Lovely Professional University is founded and run by the
same group and hence the name.
Started, to be precise, withLovely Sweet ShopinJalandhar cantonment’sSadar
Bazaar.The brainchild ofBaldev Raj Mittal, a small-time military contractor, it began
lifein 1961as amodest hole-in-the-wall operation. But there was nothing modest
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