International new ventures and born global policy

International New
Ventures And Born
Global Policy
INTERNATIONAL ENTREPRENEUR- LAKSHMI MITTAL

INTRODUCTION
 Lakshmi Niwas Mittal, was born in Rajasthan, India on
15th June 1950 and lived in UK.
 Mittal owns 38% of Arcelor Mittial and holds a 34% stake
in Queens Park rangers F.C.
 After completing his graduation in accounting from St.
Xaviers College Kolkata, he its own steel plant in
Indonesia at age of 26.

BACKGROUND INFORMATION
 After completing his graduation in accounting from St. Xaviers
College Kolkata, he its own steel plant in Indonesia at age of 26.
 After completing his graduation in accounting from St. Xaviers
College Kolkata, he its own steel plant in Indonesia at age of 26.
 His strategies included purchasing Karmet steel in Termirtau in
$400 million
 In 2006, Mittal created ArcelorMittal, which is regarded as the
biggest steel company

EFFECTUATION THEORIES
 Effectuation theory is a way of thinking that assist to
entrepreneurs for identifying opportunities and helps to
them for creating new venture.
 For becoming a successful entrepreneur it is important to
look at 3Fs which includes friends, family and fools.

Continued…
 Mittal learn the basis of entrepreneurship from his family
which make him bale to learn to many new things such as
hard work, passionate and become determination towards
own work.
 For expanding its business activities he made many
intelligent decision such as hired Indian managers and
doubled production.

CHARACTERISTICS OF ENTREPRENEURS
Entrepreneurs possess the following characteristics:
 Passionate: They are passionate individual who know how to get
into depth of a subject and entirely understand it.
 Keep asking questions: An entrepreneur is always curious about
knowing new things which makes him ask numerous questions.
 Optimistic: By nature entrepreneur hold positive attitude and
behavior.

REFERENCES
Arend, R. J., Sarooghi, H. and Burkemper, A. C., 2016. Effectuation,
not being pragmatic or process theorizing, remains ineffectual:
responding to the commentaries. Academy of management Review.
41(3). pp.549-556.
Baum, J. R., Frese, M. and Baron, R. A., 2014. The psychology of
entrepreneurship. Psychology Press.
Kirzner, I. M., 2015. Competition and entrepreneurship. University
of Chicago press.

Thank you