Entrepreneurship: Backgrounds and Experiences Hindering Entrepreneurship

This presentation explores the backgrounds and experiences that hinder entrepreneurship and highlights the success stories of entrepreneurs like Wang Jianlin and Nandan Nilekani. It also discusses the skills required for success in entrepreneurship.

Entrepreneurship
Task 4

Cover Content
• Introduction
• Backgrounds and the experiences hinder the entrepreneurship
• References

Introduction
There are lots of ventures exist in market which are started
by single individuals through investing capital with an
objective of bringing new products and services so as to
fulfil the needs and requirements. This will help in
developing the economy of the country through generating
huge employment opportunities to the maximum number of
people.

Backgrounds and the experiences hinder
the entrepreneurship
Wang Jianlin and Nandan Nilekani are two known entrepreneurs who
are currently attained strong identity in business world. They firstly
enters into market with small business and later on, with the help of
their expertise skills and knowledge they are successfully expand their
business on large scale and capturing large market share. Because of
their decisions making skills, they both have achieved strong image in
their respective fields.

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As Journey of businessmen are not easy due to having lots of issues and difficulties
which comes in the way of success. Such given entrepreneurs are gained so much
from their past due to which they have understand the value of achieving success.
Getting maximum support from their family and relatives maximising their efforts
in achieving desired goals and objectives. These all will motivate them to work hard
and give maximum efforts in reaching their business to higher position in market.

Background of Wang Jianlin
Wang Jianlin comes from middle class family. At the age of 18, he had been
recruited in People's Liberation Army and thereafter, he moves towards the
city of Dalian and worked as a post of office administrator for the Xigang
District.

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This is one of the big achievement of this life at that time. At present
times, his company generated over 21.57 million square metres of
investment property, 1678 Wanda shopping Plaza and many more.
He got big achievement in 2012 when he acquired world's largest
theatre owner named as “AMC Theatres”.

Background of Nandan Nilekani
Nandan Nilekani is an Indian entrepreneur, bureaucrat and politician.
He is the co-founder of one of the reputed IT services provided
company known as Infosys. In 2017, he has been appointed for the
post of non-executive chairman of the board. He gets adequate
support form their family with the help of which he started his own
business.

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He has completed its education from Indian Institute of Technology
Bombay, Mumbai. He got position as a CEO of Infosys from 2002
to 2007. During this period, Infosys has achieved remarkable
revenue of approx. 3 billion that makes their company one of the
higher revenue grosser in business world.

Entrepreneurial ecosystem:
It is essential need for a model of entrepreneurship that helps in
capturing all elements which gives maximum support to achieve
growth and success. There are eight elements which has developed
an entrepreneurial ecosystem due to which several condition
contributed to the various structure in single support system.

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Financial support: Getting adequate support from their family, relatives,
financial institutions, angel investors etc. which gives financial support to
small business enterprise in order to implement an advanced technologies
and techniques.

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Technology support: Due to getting maximum support in growth of
country, the government also help them in providing them enough
funding, adequate support from suppliers, imported technology
know-how etc. which drives small business to survive in market for
longer period of time and attain competitive advantages.

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Support of market: It means getting support from market in forms of
providing multiple competitive opportunities if grabbed by company then
they will definitely achieve strong identity in market.

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Social support: Getting adequate support in form of getting awards
from trade unions. Such social respect bestowed on the entrepreneur
also counts as social support.

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Environmental support: Getting support in form of availability of
natural resources and favourable climatic condition which makes
impact on the sustainability of small business venture.

Aspects of entrepreneurial personality brings
motivation and mind set of other entrepreneurs
Wang Jianlin and Nandan Nilekani are such two successful
entrepreneurs which comes from middle class family due to
which they are having limited resources instead of this fact
they are now currently big and successful entrepreneurs.
This motivate others entrepreneurs as well to think to start
new start up in order to achieve their own position in market.
To achieve success following skills are required to have:
 Decision making skills
 Risk taking ability

References
Carraher, S.M. and Paridon, T.J., 2015. Entrepreneurship journal rankings
across the discipline. Journal of Small Business Strategy. 19(2). pp.89-
98.
Chrisman, J. J. and et. al., 2012. Family involvement, family influence, and
family‐centered non‐economic goals in small firms. Entrepreneurship
theory and practice. 36(2). pp.267-293.

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