PROGRAM: MASTER OF BUSINESS ADMINISTRATION. MODULE : Managing Entrepreniual Enterprise (LB5207) PROFESSOR IN CHARGE: MR.

MoganSwamy ASSIGNMENT TOPIC: Entrepreneur Interview.

NAME

STUDENT ID

Swapnil Desai

12667390

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Introduction
Entrepreneurship is more than starting up a business. According to Richard Cantillon entrepreneurs are those individuals who bear the risk of buying at certain prices and selling at uncertain prices. Schumpeter expanded this definition beyond the concept of a businessman trading goods or services to incorporate innovation.

Entrepreneurship is a process through which individuals identify opportunities, allocate resources, and create value. This creation of value is often through the identification of unmet needs or through the identification of opportunities for change. (Mazzarol, What is an entreprenuer, p. 5) An Entrepreneur is one who exploits the problem that makes it as an opportunity for him, he sees the problem and turns it into an opportunity and then the customers in return are willing to pay for solving that problem. An Entrepreneur is one who solves problem, fills in the gap or facilitates the process or product available in the market. This report is built on a successful Entrepreneur Mr Yogesh KusumgarPresident and CEO of KusumgarCorporates who is engaged into manufacturing of technical textile industry. The company Kusumgar Corporates was established in 1970. The company is engaged in manufacturing of Armed forces fabrics, Industrial fabrics, Geo-synthetics, Sports and recreational fabrics, Customs fabrics, Technical textile consulting. Kusumgar Corporates has been recognized by its many accolades

including the National Award for Indigenization, given by the Ministry of Defence, and is one of India's foremost corporations involved in the development and supply of specialty textile material. Their main head office is located in Vile Parle (West), Mumbai, India.(Kusumgar) Mr Yogesh Kusumgar is one most successful and dedicated Entrepreneur I have ever come across and his vision statement is as follows. VISION To enrich mankind through development of Textile Technologies.

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Entrepreneur and his journey

Mr Yogesh Kusmgar and his family were involved in the business of importing Cycles and accessories right from pre-independence period. At one point of time, the family diversified into Weaving Rayon Fabrics with a failure in the venture. At that point of time, he was shifting from school education to college education and the failure of family in textiles had ignited a spark in his mind that he will make his career in Textile therefore he has been exposed to Entrepreneur since his childhood. As we can that Mr Yogeshs family failed in textile and factor motivated him to develop and start appropriate As we know from the interview that initially Mr Yogesh kusumgar started his career with sasmira (synthetic and Art, Silk mills research Association). In the year 1962 which was incidentally the year of Chinese aggregation of India. During this period there were many textile products which were required by the defence ministry therefore defence department refer to sasmira for development of such products because sasmira being a national TRA (Textile Research Association).This provided Mr Yogesh with an opportunity to realize that textiles are not only used for clothing and consumer applications but have technical application encompassing other aspects of human activity. As referring to the Timmons model of enterprenuel process which states that opportunity is one of the most vital factors that an enterpernuel should realize and should make maximum use of the opportunity. He got the opportunity to work with Sasmira at the right time when it was Chinese aggregation to India. Therefore this trigging event provided Mr Yogeshwith an opportunity to jump his carrier in technical textile industry. When he started his business in technical textile it was completely alien in the country. Therefore this created an advantage for him to establish his business. He started the business by providing his own finance and experience; he also believed as the economy is rising, technical textile would gain recognition and acceptance in the country. At initial stage it was very difficult for him to market his product because it was not easy to understand what consumer wants from technical textile as it is
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very muchdifferent from consumer textile because marketing of each product varies from segment to segment each product needs different marketing strategies. Geotextiles, Aerospace textiles, medicinal textiles, they all varied materially but he also believed that challenge is always provided by opportunities early bird catches the flies. With this philosophy, He decided to enter into the field of Technical Textiles. Another major hurdle was to reach customers and convince them that the products offered by him are much more performance oriented and comparing the cost but due to depth of knowledge in technical textile it was much easier to translate what customer want from them. Later Banks also provided financial support to expand their business by seeing the progress. He also knew that team work is very much essential for the success of the company so he started recruiting more and more people and also trained them with the uprising growth of the company; he also got support from his son who is currently working with him, he also had leadership qualities which is very essential for any entrepreneur. Today they are the only company in India with the experience of 4 decades in technical textile. There are about 120 employees working in the company and almost everyone is full time. Their main customers are Govt. organisations to industries to foreign buyers. Govt. organisations like Ordnance Parachute Factory, Ordnance Equipment Factory, and Ordnance Clothing Factory etc. are our customers. Aerospace Materials Pvt. Ltd., Garware Bestretch Ltd., Entremonde Polycoaters Ltd., Polynova Industries Ltd., Aerazur, France are few to name from industries. Creativity and team effort links opportunity and enhances outcomes. It was his creative thinking which helped him to take right risk at right time and to become a market leader in technical textile. He also exhibited good leadership qualities and team effort to take Kusumgar Corporates where it is now.(Mazzarol, The entrepreneurial process Model (Timmons 1999)) There were some Entrepreneur qualities which were displayed by Mr Yogesh kusumgar in his work life up till now. Some leadership qualities are as follows:

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Disciplined He has been very focused on his goals of starting an appropriate business into textile. He has never allowed himself to get disturbed or to get out of focused from his goals and he has overarching strategies and outlines the tactics to accomplish them.

Confidence He did not ask questions about whether he could succeed or whether he would be worthy of success. He was confident with the knowledge that he will make the businesses successful.

Self-starter He knew that if something needs to be done, he should start it on his own. He set the parameters and make sure that projects follow that path. He was proactive, not waiting for someone to give them permission.

Competitive He always had desires to win in whatever he does whether it is sports or business. He is very competitive and confident about his company and products that they are better than his competitors.

Determination He has been always very determined about in plans and business. He looks at the problems as an opportunity which takes him one step near to success.

Strong people skills He has strong communication skills to sell the product and motivate employees. He knew how to motivate his employees so the business grows overall. He is very good at highlighting the benefits of any situation and coaching others to his success.

Passion Passion is the most important part of any Entrepreneurs life. Mr Yogesh had this passion for textile, he genuinely love his work. He was very dedicated
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when he was in SASMIRA; he took appropriate knowledge of technical textile and painted his dreams on the campus of life.

These were some Entrepreneur qualities which were displayed by Mr Yogesh Kusumgar.(Adams)

Learning after interview

I understood many things during the interview process from an Entrepreneur. Mr Yogesh kusumgar is an ideal example of a great Entrepreneur. During the interview I could see many qualities which an Entrepreneur should possess like Discipline, Confidence, Self-starter, Passion, Determination, etc. He strives towards attaining improvement continually and competes against self-set standards.His mind set was also one of the reasons for his success, he was very clear of his goals to start a business in textile which he has done. I have also learnt thatour mind-set is where that courage comes from. . Like a start-up, facing an unknown world filled with possibilities and pitfalls. His main strength was that he looks at any problem as a challenge which than turns into an opportunity for him. I have also learnt that entrepreneurs must not be simply persuaded, but should be successful in persuading others and must have belief in their own efforts as it is their efforts which affect the events and its outcomes. Also, creativity and innovation are documented by the openness to new ideas and broader horizon, taking initiatives to solve issues, wanting to do things differently, as was emphasized by Mr Yogesh Kusumgar. I also learnt that team work is also very important for any business to grow and succeed. He used to look for opportunities even in problem and chaos which facilitated him to achieve so far. He also says that his own need for independence and starting up his own business is very important for any Entrepreneur.. One has to be very smart in managing the business in order to sustain in a long run.I have also learnt that Entrepreneur should have dedication, focus, passion, belief these are some key elements that a new Entrepreneur should possess. Mr Yogesh Kusumgar also believed that being a good Entrepreneur is not the only thing that is necessary for the success of the company
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one should also be a good manager in order to manage the company which will help the company in its long run.

Conclusion
To become an Entrepreneur is not an easy process its filled with ups and downs. An Entrepreneur must has a vision and should belief and trust in his idea. Mr Yogesh Kusumgar had a vision of technical textile in the country and he was very much confident about the future. One must have the dream of being independent and to get self-employed; becoming an entrepreneur is not an overnight process it more like taking a calculative risk and in loving his journey. Entrepreneur should also take care of business ethics and order to conduct his business for a longer time. Mr Yogesh kusumgar has struggled and done hard work heseized the company in such a position where it is now a known and leading manufactures of technical textile in India the only company with the national award. He has all the qualities and characteristics of an Entrepreneur. By taking his interview and seeing his journey the way he tackled all the problems and to reach this level we can say that Mr Yogesh Kusumgar is a successful and true entrepreneur.

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References
Adams, J. (n.d.). 10 qualities of a successful enterpreneur. Retrieved dec 28, 2011, from under30 CEO: http://under30ceo.com

Kusumgar. (n.d.). Retrieved december 27, 2011, from www.kusumgar.com: http://www.kusumgar.com

Mazzarol, D. T. (n.d.). The entrepreneurial process Model (Timmons 1999). In T. Mazzarol, Entrepreneurship & Innovation. Tilde University Press.

Mazzarol, D. T. (n.d.). What is an entreprenuer. In D. T. Mazzarol, Entrepreneurship & Innovation (p. 5). Tilde University Press.

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Appendix
Questions What ignited the spark in you to start a new business?

Ans.My family was in the business of importing Cycles and in accessories right from pre-independence period. At one point of time, the family diversified into Weaving Rayon Fabrics with a failure in the venture. At that point of time, I was shifting from school education to college education and the failure of family in textiles had ignited a spark in my mind that I will make my career in Textiles and start appropriate business in Textiles. How did the idea for your business originated from?

Ans. My initial career was with SASMIRA (Synthetic and Art Silk Mills Research Association) in the year 1962 which was incidentally the year of Chinese Aggression of India. In post aggression period, SASMIRA being a national TRA (Textile Research Association), many textile products required by Defence were referred to SASMIRA for development. This provided me with an opportunity to realise that the textiles are not used only for clothing and consumer applications but have technical application encompassing other aspects of human activity. them? Ans.Yes, Technical Textiles is my first business. Why did you go into this particular industry and not any other industry? Is this your first business? If not, what were the others, and what happened to

Ans.I entered the field of Technical Textiles as a business activity in the year 1970 when the word Technical Textiles was an alien word in the country. I realised that development of Technical Textiles was in nascent stage in our country and with the growth of economy, technical textiles will have due recognition and acceptance in our country. It was a challenge to understand
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what the users expect from textiles and translating them into textiles. Marketing was very different from consumer textilesand varied from segment to segment e.g. marketing for Geo-textiles, marketing for Aerospace textiles, marketing for medicinal textiles, they all varied materially but challenge is always provided by opportunities early bird catches the flies. With this philosophy, I decided to enter into the field of Technical Textiles. Did you get any benefit from any triggering events (e.g. Government policies,

Environmental, Resources?) Ans. Post Chinese aggression, Govt. had become proactive in ensuring indigenisation of critical products such as fabrics for parachute application. This Govt. policy helped to indigenise man drop parachutes first and subsequently various parachute fabrics such as ejection parachutes, cargo drop parachutes, brake parachutes, Bomb illumination parachutes, Reverse parachutes etc. How did you finance your business and what was the process like?

Ans. Initially, I financed my own business and with the growth , Finance from Bank was availed. Banking being institutional, I had to study and acquire adequate knowledge to provide financial data to the Bankers. How difficult it was to find the investors?

Ans.I have never approached an Investor other than Banks. Were there any investors involved in your business? If any, how difficult was that to find the investors? There were no investors in my business. I never approached any investor except for bank. What makes your company different from others in the market?

Ans.Today, we can boast that my company Kusumgar Corporates Pvt. Ltd. is the only company in India having an experience of 4 decades comprising
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many segments of technical textiles such as Aerospace Textiles, Geotextiles, Medicinal Textiles, Industrial Textiles, Protection Textiles, Recreational Textiles etc. How is your company, different from other companies, that are already present in the market?

Do you have any experience in this particular field?

Ans.We have 4 decades of experience and have created a strong cohesive team of experienced and expert persons. Did you have any family support?

Ans.When I began the business, I had full moral family support particularly from my father and now I am supported by my son Siddharth. How long have you been in the business?

Ans. I have been in the business for over 4 decades . Were you exposed to Entrepreneur in your childhood?

Ans.My father was an entrepreneur in Cycle business which was then imported in the country and this background helped me to build entrepreneurship by nature and spirit. How difficult it was initially to reach the customers?

Ans.Indeed it was a challenge to reach the customers and to convince him that the product offered by me is better in performance and cost compared to the conventional one that the customer was using. However, the depth of knowledge, translating what users want in textiles and convincing the customer for the product and services has brought about the growth what today we are.

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How many employees do you have? Full- or part-time?

Ans. We have about 120 employees, almost all on full time basis.

Who are your customers?

Ans.Our customers are varied from Govt. organisations to industries to foreign buyers. Govt. organisations like Ordnance Parachute Factory, Ordnance Equipment Factory, Ordnance Clothing Factory etc. are our customers. Aerospace Materials Pvt. Ltd., GarwareBestretch Ltd., EntremondePolycoaters Ltd., Polynova Industries Ltd., Aerazur, France are few to name from industries. What are the most essential things you have done to grow your business?

Ans. In order to grow the business, I have focussed on following: Adopting highest level of business ethics where people prefer to deal

with us. With the growth, the team at Kusumgar has to enlarge. Training the team continuously for a change to move ahead both in

technology and systems. Contribution to the community of Technical Textiles by presentations at

various conferences and by report at different levels with Government, semigovt. and national organisations like FICCI etc. What plans do you have for expansion?

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Ans. Expansion is a continuous process at Kusumgar . Expansion is not only restricted in terms of production capacity but includes diversifying into newer and newer areas of application of technical textiles.

Which outsiders have been most important to your business success? (e.g.,

bankers, accountants, investors, customers, suppliers, mentor, etc.) Ans.I believe that customers have been the most important to bring success to the organisation. It is the customers who have posed their problems before us and this enabled us to develop newer and newer technical textiles to meet with their requirements. What has been your most effective tactic or technique which you have used to

increase you growth? Ans.The most effective technique for the growth of the business is to constantly struggle to translate what users want in textile parameters through technology and processes. Whats the worst business advice youve ever received?

Ans. The worst business advice that I have received is to go public to make easy money. What advice would you offer to the entrepreneurs starting out today?

Ans.Entrepreneurship is always aimed at earning profits but any act of entrepreneurship has an element of risk. Identify your strength and make this stronger with your strength. Equally, identify your weakness and make sincere attempts to overcome them to the extent possible. Highest business ethics,

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reasonable degree of transparency and preparedness for the change are key to success in entrepreneurship. How have sales grown in the last few years?

Ans. Sales turnover have grown from Rs.28.26 crs. during 2006-07 to Rs. 51.54 crs. during 2010-11. What systems have you used to automate your business?

Ans. We have been following ERP for our business. Do you have a business plan and when it was last updated?

Ans.We update our business plan every year. How does your business give back to the community or to society?

Ans.We believe in contributing to the community of Technical Textiles. I was the Honorary President of SASMIRA for 9 good years. My colleagues and myself must have presented more than 50 presentations on different aspects of technical textiles. My organisation is represented in Committee for Growth of Technical Textiles in India with the office of Textiles Commissioner, Ministry of Textiles, Govt. of India. Do you think your mind-set has anything to do with your success?

Ans.Yes, my mind set is to contribute and to grow in Technical Textiles and is the pillar of whatever success we have in Technical Textiles. What is the last one word advice you will give to my readers when it comes

to succeeding as an entrepreneur? Ans. As an entrepreneur, one has to steer the business for financial gain but together with financial gain, goodwill created in business through business ethics, transparency, contribution to the community to which we belong to and

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desire to change are essential ingredients for total success in entrepreneurship Answered by MR Yogesh Kusumgar Y.K. KUSUMGAR CHAIRMAN KUSUMGAR CORPORATES PVT. LTD. 101/102, MANJUSHREE, V.M. ROAD, CORNER OF N.S. ROAD NO. 5, JVPD SCHEME, VILE PARLE (WEST), MUMBAI 400 056. INDIA TEL.NO. 91-22-61125139 FAX NO.91-22- 2611 5651 Email: info@kusumgar.com Website: www.kusumgar.com

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