Answer To: Studying successful entrepreneurs has the potential for considerable learning and positive role...
Ishika answered on Aug 16 2021
Running head: ANALYSIS
ANALYSIS
Entrepreneur Analysis
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Executive summary
Entrepreneurship is not an easy job and it requires vision and consistent working with the trust that the vision is going to become reality with the amount of work we invest. A forward-thinking vision is capable enough to inspire and engage others. The vision drives people by their focussed and strong business vision. It is the key to courage which is needed in every business to take bold decisions that mostly come around with huge risks. A leader with motivational thinking or motivational speaking skills can easily inspire others to work harder for the common goal. Leadership skills are also related to various other processes within an organization. The managers should be able to solve the various conflicts that might surface in various situations. Leaders find ways to solve problems without any bias, even firing critical situations. What it takes to be a leader and therefore that leader is willing to put in order to become one speaks a lot about his consistent position in the market. This report is a detailed analysis of Azim Premji, one of the inspiring leaders from India who has turned into an impeccable leader starting from the base as an employee and an electrical engineer. For an entrepreneur to be successful, I feel like he must go through all the steps from being an intern to an employee to a leader and further. Being an optimistic person, I always try to be cautious and factual about the situations, which I think are the two most important qualities of being an entrepreneur. Given that, Mr. Azim Premji has been an inspiration to me since the beginning and I would like to follow the exact step by step process to grow.
Table of Contents
Executive summary 2
1. Introduction 4
2. Motivation, History, and background of the Entrepreneur 4
3. Analysis of the overview of the past venture, involvement, and current venture development and growth 5
4. Entrepreneurial orientation 5
5. Reflection on personal learning 6
6. The argument of the entrepreneur characteristics and achievements 8
7. Conclusion 9
8. References 10
Entrepreneur Analysis
1. Introduction
Management styles differ from one person to another and every style is influenced by the experiences and perspectives of the leader. This report discusses the achievements and analysis of one of the prominent entrepreneurs in India, Azim Premji. Starting from his background to his growth as one of the richest men in the country is quite astonishing and a complete analysis of the growth graph has been discussed.
2. Motivation, History, and background of the Entrepreneur
Azim Premji is the third richest man in India and he is known for his business skills and philanthropy. He is an Electrical Engineer, graduated from Standford University, and has been at the helm of Wipro since. His contribution to the company since the 60s has made what was then a $2-million value company to $8.5 billion, expanding its services to IT, BPO, R&D, and so on. Now, the firm has its presence over 58 countries, and credits cannot be denied.
Azim Hasim Premji, 73, remains active as chairman of Wipro and his influence also spans a non-IT, privately held business, a family office that holds private equity investments in multiple ventures and businesses, and a highly respected philanthropic effort via the Azim Premji Foundation, which he set up in 2001, and further funded with a $2 billion endowment from his own wealth ("With $21 billion, Premji Azim among world’s top philanthropists", 2019). Wipro, the company was started in the year 1945. In the year 1980, he recognized the growing importance of the IT field.
Azim Premji is not easily influenced by the outsider’s opinions irrespective of how popular or loud it is. He does what he believes is correct. Upon seeing the economic problems in the country when there was economic reform in the year 1991 he saw this as an opportunity and decided to collaborate with American companies. He deeply understood the things that were taking place in his surroundings. He also knew about how the economic reforms would impact his ideas as well as the country. He decided to expand his business further by manufacturing many new things. He was a keen observer, therefore, he smartly handled his ideas related to his business.
3. Analysis of the overview of the past venture, involvement, and current venture development and growth
During the last year in the month of September, Azim Premji announced a deal with the Alight Solution worth $1.5-1.6 billion. It is the largest deal ever in the history of the company. It was announced today that Wipro consumer care had signed an agreement to acquire the Philippines based company named Splash Corporation. This agreement gave the company entry to the East Asian country (Mishra, 2018). Splash Corporation has almost 15% market shares that are outside of their country, Philippines. It is Wipro consumer cares 11th acquisition. The company has promised to invest in emerging companies. They hope that their new acquisition would bring a double-digit internal return on their investment.
When IBM left India he found this as an opportunity and he took advantage of this idea and began to...