Small Business and Entrepreneurship

DLF India Entrepreneur

K.P Singh

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IntroductionSmall Business and Entrepreneurship

From the words of great economists Entrepreneurship can be defined as the process of disturbing of equilibrium in the market, that is the coming of a kind of Entrepreneur in the market who change the definition of the trading through either inventing a new idea or a product or else making a disequilibrium in the market through his trading and growth, with the use of new and undiscovered ideologies. It is said that it causes a unbalance in the market trading as the innovating of a new product or a business idea that is causing the market to disturb as the existence of such a product has never seen before and its arrival disrupts the market, and affects the top position holders to give time to see that Entrepreneur as a threat to their business model. It is said that every successful business is successful because of a great idea behind. The Entrepreneur holds his position in the market through spotting the hole or the gap in the business model and filling up this gap by something never seen before through service, product or trading arrangements in the market. Both of these abilities to make a change in the market need technical, marketing and financial skills in a person to be a entrepreneur. The key factor of Entrepreneurship is that it occurs with time, i.e. it takes some time for an individual to develop these skills like critical mass, market credibility, and knowledge about customers, suppliers and how they operate. The core logic behind small business and Entrepreneurship is that every idea is worth full if treated with proper knowledge and the concepts of business, and no idea is waste in such a manner, every can be transformed into a successful business proposition if treated with proper knowledge, some similar concepts and sayings have changed the aspirations of some amateur and aspiring businessmans transformed the definition of business in world. Formulating this assignment gave me the opportunity to understand and know about some of the great Entrepreneurs in the history of business who have completely transformed the archetype of business, gave me the chance to know about some of the great personalities in the world and specially in the Indian business market, how they came up from such a small background with some great ideologies in the market and changed the way of trading. It gave me a chance to know about some persons who were no one in the past, but are the successful businessmens in todays world. My story is about one of the most powerful and amongst the richest man in the world. Mr K. P. Singh (Kushal Pal Singh) is the person who changed the form of the business in real estate in India, coming from a pretty good background but studied different studies in different fields and having the knowledge and job experience in army and cross country Mr K. P. Singh resulted be the most successful entrepreneur in India.
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Characteristics of a good Entrepreneur

Every successful entrepreneur has some characteristics and qualities which makes him a good human being and a successful entrepreneur. A good entrepreneur is good logical and critical thinker who has the knowledge of what is going on in the market understands the dealings and the customers needs. A good entrepreneur always takes the ideologies and a policy implementation in the market seriously and adds some of his critical thinking approach to the existing policy which helps him to get successful in either his own business model or the model of a company whether existing or overcoming. Some of the good traits in a good and a successful entrepreneur are: Does what he enjoys: What a person get out of the business will be a form of personal satisfaction, financial gain, stability and enjoyment will be the sum of our input in the business, if a person enjoys what he does the chances are more likely that hell meet the success in life or in his future. Take what you do seriously: One cannot expect to be successful and effective in his business unless he start taking what he do seriously, because this results in getting deviated from the path and walking stroll down the path of failure. If a person keeps on jumping on to the others business and keep motivating himself with others success in their respective field wit being underestimating himself, hes surely going to be unsuccessful in his future. It is very easy to get sidetracked in the business but the one whos serious in what he does, kisses the glory of success. Plan everything: Planning business is important because it requires analysing the state of the company after every action it is planning to make in future and later in coming time. Planning can help the company to make the most of the companys resources as it helps to analyze the market strategies coming and running at present, finding the gaps between the market strategies and filling them with a successful idea. Manage money wisely: The spirit of any business is cash flow and the capital generation and expenditure on the income and the expenses, there are a couple of things which a business manager needs to keep in mind so that he can make the full use of money wisely as there are bills to be paid, employees need to be given salary, products needs to be exported and transported, marketing of the product or the service need to be done, therefore a good money manager is always a good business manager and a successful entrepreneur.

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Ask for sale: It is needed by any business model to ask the customer what you are selling, as marketing, advertising, and sales of the product are completely worthless unless they are done in the way the customer can be attracted and informed about the full specifications of the product or the core idea about the product. The business companies needs to ask the media productions department about the sales of the product for what they created as the advertisement of the company for sale and marketing about the product socially through different means. Remembering, it is all about the customer: Any business is all about satisfying the needs of the customer and making him happy about the services of the product that you deliver makes him think about the your company and building a trust and reliability in his heart for the company, any business is not about the products you sell or the services you deliver, it is not about the price that is being charged for the products that one sell or services being delivered, business is not about the rivals in the same business model and how to beat them and take over the market, its all about how well you give the services to the customer and how you think that a customer should think about your company through the services you deliver and the products you sell. Becoming a self promoter: Self promotion is the most beneficial marketing tool for successful business model, there is a common belief amongst the business holders that self promotion of the product from the company will discover the business, personal, products and services and will dispose the model and the ideology about the business model to the mass resulting to the use of our model by some other. Therefore becoming a self promoter helps in greater success in the market. Know your customers: Understanding the psychology of the customers is the biggest achievement in any business and results in the success and winning of that business amongst the others, as if a company knows what its customers want and are waiting for, means the necessity of the customers, or discovering something which the customers are waiting for but are not able to give out what exactly they want is the major achievement in the business model, and bringing out of such product in the market which the customers aspires of leads the company in the positive direction and build the strong economy for the company.

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Some other characteristics of a good entrepreneur are:

Project a positive business image Level up with the technology Build a top notch business team Become known as an expert Create a competitive advantage Invest in yourself Be accessible Build a rock solid reputation Sell benefits Get involved Grab attentions Master the art of negotiations Design your workplace for success Get and stay organised Take time off Limit the number of hats you wear Follow up constantly

About the EntrepreneurK.P.Singh

Introduction Mr. K.P.Singh is the key person behind the Indias biggest real estate company DLF Ltd. Mr. K.P.Singh is the billionaire and the entrepreneur behind the transformation of the real estate business and trading in India, he is the person who changed the model of business in real estate and properties and showcased the world how the needs of the customers are satisfied through quality and in within the budget of the customer depending upon different background. Mr. K.P.Singhs business attractions include housing, commercial complexes, SEZs, shopping malls, hotels and infrastructure development. Mr. K.P.Singh has even been declared as the richest man in the field of real estate and land owning by Forbes in 2008, with his assets worth of $ 30 billion. He also saw a sharp decline in his business in the next consecutive year 2009 as the other real estate holders applied his ideology to their constructions and developments and gave him a competition in the next consecutive year with his assets remaining to worth $5 billion in 2009.
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History and Life contributions of K.P. Singh

Mr. K.P.Singh was born on 15th August 1931 in Bulundshahar UP, India. He did his graduation in science from Meerut College and for his further education he moved on to UK to study Aeronautical Engineering, when he was studying in UK the British Officers Services selection board selected him to join Indian Army. His training was done in Indian Military Academy in Dehradun, and then he was commissioned to the The Deccan Horse Cavalry regiment of the Indian Army. In 1960, after the Indias independence he joined American Universal Electric Company Which was a joint venture between his family business and Universal Electric Company of Owosso, Michigan, USA. Later in 1979 American Universal Electric Company was taken over and collaborated by DLF Ltd. This happened very soon when K.P Singh became the managing director of the company. KP Singh was eager of purchasing the land in Gurgaon. KP Singh was a very good entrepreneur and a future visionary as he was able to see the growth of property and Delhi in that particular area and thought that it could be very useful location for the business activities around Delhi for the Business holders to set up their factories, companies and offices, also he thought that it could be great for real estate development in Gurgaon, Delhi. And as he aspired of with the time Gurgaon was transformed and modified into the one of Indias most prime location for real estate destinations and a core for the business activities. DLF build and urbanized DLF City, the 3000 acre incorporated township in Gurgaon. DLF was influential to bring an amount of Multinational companies in India, some of them being GE and Nestle. The DLF Cyber City in Gurgaon extended 125 acres and amongst the largest incorporated knowledge parks within India. The DLF Golf club built in Gurgaon, Delhi is one of the peak golf clubs in Asia and the only night-time Golf Club ever built in India. DLF just commenced DLF Emporio Mall in New Delhi, which is Indias largest Luxury Mall. Currently, DLF has constructinos in a number of cities under several states. DLF has a land asset of more than 10000 acres, 3000 acres of which is in major spots. DLF is the label supporter for the Indian Premiere League (IPL) since 2007 till the present date. K.P. Singh also has worked in a number of different specialized organizations. Mr. K.P.Singh was the President of ASSOCHAM (Associated Chamber of Commerce and Industry of India). Mr. K.P.Singh has been the President of the PHD Chambers of Commerce & Industry. At present, he hold the position of Director, Central Board of Reserve Bank of India; Honorary Consul General, Principality of Monaco; Member of Executive Committee of Federation of Indian Chambers of Commerce and Industry (FICCI); Council Member, Eastern Regional Organisation for Planning and Housing (EAROPH); Founder Member, National Estate Development Council (NAREDCO); Member, Economic Policy and Reforms Council, Government of Rajasthan and Member of the Board of Governors, National Institute of Technology, Durgapur.
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Mr. K.P.Singh has also been honoured with the 'Delhi Ratna' Award from the Chief minister of Delhi
Ms. Sheila Dixit for his exceptional contribution to Delhi, and transforming Delhi to the hub for business and serving as the true definition as being the National Capital of the country.

Positions held and at present by K.P Singh

Positions held in past:

1. Mr. K.P Singh has been the president for apex industry chamber of the country and 2. President of the Associated Chamber of Commerce & Industry of India (ASSOCHAM). 3. President of the PHD Chamber of Commerce and Industry. 4. Director of Central Board, Reserve Bank of India (RBI).

Positions currently holding:

1. Chairman of the Board, DLF Limited. 2. Member of Delhi Vision Group to overview the Master Plan of Delhi 2021. 3. Honorary Consul General, Principality of Monaco 4. Me Commerce & Industry (FICCI). 5. Chairman and Director of 31 different private companies engaged in various sectors of the economy.

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Achievements in life

KP Singh transformed Gurgaon a renowned and popular and business capital destination, inside a point in time stage of 10 years, since his world-class earthquake-proof office buildings, apartments, shopping malls and leisure facilities along with the DLF GaMY Player designed Golf Course Gurgaon is known for owing of very large amount of call centres and shopping arenas. Being the Chairman of DLF, the company went for an original community donation in 2007 and complete on $2.24 billion. It is amongst the largest IPOs in India and being go after by an expansion in the marketplace capitalization of the corporation to a stage of $24.5 billion, resulting him and his family one of the richest families in the world. And in 2008, he was for a short time the worlds richest real estate business person.

References

Peter F. Drucker 2009, Innovation and Entrepreneurship, HarperCollins USA. William D. Bygrave, Andrew Zacharakis,2011 Entrepreneurship Second Edition, published by John Wiley and Sons, USA. Characteristics of a good Entrepreneur: Entrepreneur magazine's Ultimate Startup Directory and Ultimate Small Business Marketing Guide , both available from Entrepreneur Press . Donald F. Kuratko, Richard M. Hodgetts 2009, Entrepreneurship: Theory, Process, Practice, 2009, Sputh western cenegage learning, Mason USA. Amita Mital, 2008, Cases in Strategic management, Tata Mcgraw Hill, New Delhi, India. Ajay Shah, Dr. Susan Thomas, Michael Gorham 2008, India's Financial Markets: An Insider's Guide to How the Markets Work, Oxford, UK. Life history: http://www.businessblog360.com/2009/05/11/tycoon-kp-singh-biography-dlf/ Life history, http://en.wikipedia.org/wiki/Kushal_Pal_Singh Entrepreneurship characterstics: http://www.entrepreneur.com/article/200730 Contribution, http://www.iloveindia.com/indian-heroes/kp-singh.html Strengths and weakness of Entrepreneur, http://www.dlf.in/dlf/wcm/connect/corporate/DLF_SITE/HOME/TOP+LINK/About+US/Over view.

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