June'21
The IUP Journal of Entrepreneurship Development
Focus
The second paper, "Performance Evaluation of Entrepreneurship Development Schemes of National Handicapped Finance and Development Corporation" by Shanimon S and Shalini Lawrence, dwells upon the National Handicapped and Finance Development Corporation (NHFDC), which is the apex level institution promoted by the Ministry of Social Justice and Empowerment. The corporation is engaged in financial assistance to differently abled persons with minimum 60% of disability under microfinance schemes. The study evaluates the performance of various schemes offered by NHFDC. The financial support and development programs can significantly contribute to development of entrepreneurial potential for the differently abled groups, and studies like this would provide periodic checks on the effectiveness of such initiatives and can be pivotal for policy makers.
The issue also carries a case study, "VG Siddhartha of Cafe Coffee Day: A 'Failed' Entrepreneur?", authored by Nagendra Kumar M V, under the direction of Sanjib Dutta. The tragic end of VG Siddhartha created ripples in corporate India and brought to the forefront the stress level of a chief executive in managing the financial health of an organization which required fund infusion for meeting the expansion needs. The case brings out the entrepreneurial acumen of VG Siddhartha and demonstrates how he was instrumental in the growth of the business and created huge employment. It also describes how expansion needs and competition created pressure on the company's financial position, leading to a situation where he had to borrow money. The sad part of the story is the country lost an entrepreneur who was contributing to the business models and was emerging as a promising leader. The case study would be a very good read for entrepreneurs to understand how to manage the financials of a growing business.
Consulting Editor
The Impact of Kudumbashree Scheme on the Marginalized Women with Reference to Alappuzha District, Kerala
Poverty, illiteracy, malnutrition, unemployment and negligence of marginalized women in the rural areas are one of the main constraints for India's development. In the recent times, there has been a changing trend in the contribution of women. In order to encourage and support their entrepreneurial skills, the Government of India (GoI) has taken various initiatives towards Self-Help Groups (SHGs) such as Kudumbashree Scheme and Stree Shakthi Scheme. Such schemes help women to increase their income and savings to attain self-reliance. The present study is a descriptive research to analyze the impact of Kudumbashree scheme on the women members in the district of Alappuzha, Kerala. The study found how marginalized women are empowered in the society through SHGs initiated by the Kudumbashree scheme. The primary data was collected from 384 women of 20,108 Neighborhood Groups (NHGs) in 12 blocks of Alappuzha district using an interview schedule, and the data was analyzed using SPSS and Microsoft Excel by performing one sample t-test and regression analysis. The respondents of the study agree that various dimensions of the Kudumbashree scheme have helped them achieve economic independence and socioeconomic empowerment, and in the upliftment of their wellbeing. Kudumbashree has improved the income and savings habit of women by making it compulsory for members to save and encourage reinvestment of money in various entrepreneurial activities. The study also observed that women were more self-reliant and confident after being part of Kudumbashree scheme.
Performance Evaluation of Entrepreneurship Development Schemes of National Handicapped Finance and Development Corporation
The growth and development of all economies highly depend on entrepreneurial activity. Entrepreneurs are the nerves of economic development as they provide a source of income and employment. They create an atmosphere of employment generation for others, and produce new and innovative products and services. Entrepreneurial supportive environment is essential for entrepreneurship development and is evolving in the developing economies. An entrepreneurial environment has five metrics, namely, easy access to funding, entrepreneurial culture, entrepreneurial supportive regulatory measures, entrepreneurial supportive mechanism and entrepreneur-friendly policies. The public and the private sectors have an equal role to play in the development of entrepreneurial ecosystem. There are four factors necessary for entrepreneurial opportunities namely, factor-driven entrepreneurship, efficiency-driven entrepreneurship, innovation-driven entrepreneurship and necessity-driven entrepreneurship. Entrepreneurship has been considered as the backbone of economic growth. The level of economic activities of a country largely depends on the level of entrepreneurial activities in that country. Entrepreneurs are not born but can be created and nurtured through appropriate interventions in the form of entrepreneurship development programs. In the modern competitive world, a number of opportunities have emerged from the evolving Information Technology (IT) revolution. A large part of the population generally lags behind in taking advantage of the emerging IT revolution. Therefore, there is a need to provide skill development through entrepreneurship development to such people in order to bring them into the mainstream of economic development.
Case Study VG Siddhartha of Cafe Coffee Day: A 'Failed' Entrepreneur?
The case study is about the entrepreneurial journey of VG Siddhartha (VGS), Chairman and Managing Director, Coffee Day Enterprises Limited (CDEL). The case study describes the various dimensions of VGS as an entrepreneur, the causes of the 'self-doubt' in his entrepreneurial journey, the role of financial management and diversification strategy in his entrepreneurial development, and his dramatic fall. VGS was acknowledged as the Coffee King of India. He was responsible for creating India's popular coffee hangout place called Cafe Coffee Day (CCD). CCD gained immense popularity among the young and urban population. VGS was also acknowledged for the strategic investment decisions he took as an investment banker and as an investment analyst. VGS was enthusiastic and energetic, and was considered a visionary entrepreneur in India. His suicide in July, 2019 brought his entrepreneurial journey to an abrupt end and left the entire business world and the entrepreneurial ecosystem in India in a state of shock. In a note, VGS stated pressure from income tax department and private equity investors as a cause of his death. The incident raised several questions with respect to the challenges being faced by entrepreneurs in India.
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