Good Qualities for Businessmenby George N. Root III, Demand Media

Successful business people share some common qualities.

It's often not enough to want to be an entrepreneur. You need certain qualities that will help you to survive and eventually succeed in business. When you know the qualities of a good businessman, then you can do a personal inventory to see how your traits stack up to those of good business people. This will help you determine which traits you should develop to become successful.

PersistenceA good business person must be persistent. When there are questions to be answered that can help her business grow, the entrepreneur pursues those answers until she finds them. If a decision-maker denies a business person an opportunity, then that business person must continue to pursue that opportunity until all possible decision-makers are approached.

Thick SkinThe phrase "thick skin" is used to describe someone who doesn't let negativity and challenges bother him. When you're pursuing business success, you'll suffer rejections and you'll face challenges that can threaten your company's future. You must be able to stand up to the challenges and address them, and use the negativity as an opportunity to improve so you can avoid rejection in the future.

Related Reading: The Qualities of a Good & Professional EmployeeIndependenceA successful entrepreneur must be able to rely on herself to get the job done when it becomes apparent that no one else can help. You'll encounter situations where you have a deadline and you'll need to do something completely on your own to meet that deadline. You must

learn to manage and run your company on your own to sustain success in the business world.

LeadershipThe quality of leadership encompasses the ability to lead employees, to put together business networks that benefit your company, and to inspire others to want to help your business succeed. Leadership allows you to be a persistent spokesperson for your company and to find the people and programs that can help your company grow.

ConfidenceA businessman may have to make quick decisions each day that can affect the future of his company and his career, so self confidence is important. Spend time developing your knowledge and understanding of your industry so you have a basis for confidence. Delivering decisions with conviction also helps your employees, customers and business partners have faith in your choices.

KnowledgeA good business person knows that there's always a new product or feature to learn about, a different sales closing technique to study, or an accounting rule to become familiar with. Successful entrepreneurs are smart people who are always looking to learn something new to help their careers.

NegotiationThe ability to negotiate is critical to the success of any entrepreneur. You must know how to work with people to achieve mutually desirable results, to get the upper hand in a negotiation, and how to close a negotiation. The deals you make on behalf of your business can help increase your revenue and grow your company.

1. MAIN FORMS OF NON-CORPORATE

ENTERPRISES

Forms of business organisation can be divided into two main types on

the basis of ownership viz., corporate form and non-corporate

form. In the corporate form, the legal entity of the enterprise is distinct

from that of its owners ie., the ownership is separated from its

management and the owners cannot take direct control over the business.

But in a non-corporate form, the enterprise and its owners are considered

as having the same entity ie., the ownership and business are not

separated. Owners can have direct control over business. Non-corporate

business may be organised either as a sole proprietorship or as a

partnership or as a joint hindu family business.

2. MEANING

A sole tradership is the oldest form of business organisation. It is easy

and simple to organise. It is found in each and every country in the

world. This type of organisation has not lost its utility even today. Sole

proprietorship is a form of organisation in which an individual

invests the entire capital, uses his own skill and is solely responsible for

the result of his business.

He may borrow money and employ assistants. But he alone owns

and controls the business and bears its profit and loss. The only legal

formality is to get a licence from the local authority viz, municipality,

panchayat etc.,for running certain type of business. It is also known as

individual proprietorship or one-man business. The person who

contributes capital and manages the business is called as sole trader or

sole proprietor.

3. FEATURES

a. One-man Ownership and Control - A sole trading concern is owned

by an individual.The proprietor is the sole owner and master of the

business. He independently manages and controls the business without

the interference of any other person.

b. Capital Contribution - In sole tradership, the capital is employed by

the owner himself from his personal resources. He may also borrow

capital from his friends, relatives and financial institutions.

c. Unlimited Liability - The liability of the proprietor for the debts of the

business is unlimited. The creditors have the right to recover their dues

even from the personal property of the proprietor in case the

business assets are not sufficient to pay their debts.

d. Enjoyment of Entire Profit - The sole trader is entitled to enjoy all

profits of the business.Since he is the only person who invested money,

he need not sharethe profit with anybody else. At the same time, he

himself should bear the entire loss. So it is said that he owns all and risks

all.

e. No Separate Legal Entity - The sole trader and the business are one

and the same. A sole trading concern has no legal entity separate from

its owner. The sole trader owns the assets and owes the liabilities of the

concern.

f. No Special Legislation- Sole tradership is not governed by any special

legislation. A partnership firm is governed by the Indian Partnership

Act. A joint stock company is governed by the Indian Companies Act

and a co-operative society by the Co-operative Societies Act. But

soletrader business is not governed by any Act.

g. Registration- A sole trader business need not be registered with

any authority as that of partnership and companies. Any person who has

money can start the sole trader business. He is to obtain a licence from

the local authority like municipality or panchayat.

h. Duration- The life of sole trader business depends upon the life of the

soletrader. If he dies or becomes incapable of doing business or if he has

no legal heir, the business comes to an end.

i. Simplicity - This is simple to commence and simple to close a sole

trader business. It requires lesser efforts and it is free from complicated

legal formalities.

j. Local business - Most of the sole trading business confine only to a

particular place such as a street, a block or a village. A few sole trading

business may cover a large area through a network of a branches.

k. Self Employment - A sole trader uses his own labour to conduct the

business. He may employ a few paid servant or use the services of his

family members for running the business.

l. Small Capital - A soletrader business can be commenced with a small

amount of capital whereas a partnership firm or a company require large

capital.

4. MERITS 

The advantages of a sole trading concern are as follows. 

1. Easy Formation -  Sole proprietorship is the only form of organisation

where no legal formalities is required. No agreement is required and

registration of the firm is not essential. Anybody willing to start a sole-

trading concern can do so immediately and without much legal

formalities.

2. Direct Motivation - The entire profit of the business goes to the sole

trader. Nobody can claim a share in the profit. It motivates him to

expand his business activities.

3. Flexibility - It is a highly flexible type of organization. A

soleproprietorship concern is generally run on a small scale basis. In

case a change in operation is required, it is possible without involving

much expenditure. The proprietor can adapt and adjust the activities of

the business to the changing trends and market conditions because the

sole trader is the sole owner of his business.

4. Retention of Business Secrets - The maintenance of utmost secrecy is

of vital importance for the success of a business. A sole trader can

maintain business secrets.Being the sole proprietor, he is not expected to

share histrade secrets with anybody else.In this form of organisation,

there is also no need to disclose accounts or any other material facts to

the public.

5. Quick Decision - The sole proprietor is his own boss and need not

consult others while making any decision. He exercises exclusive

control over the affairs of the business Therefore, he can take quick

decision and implement them without any delay.

6. Higher reward - The fear of loss acts as a stimulant for hard work.

Besides,it makes him very cautious in his approach. Hardwork and

cautious approach bring him more reward and improves efficiency and

economy of the business.

7. Effective Control - In this form of organisation, the business can be

controlled effectively because business activites are planned and

executed by a single man. Since all the decisions relating to purchase

and sale are taken by the soletrader, he can effectively control the

business if there is any deviation from the original plan.

8. Increase in Sales -  A sole trader has direct relationship with the

customers.Direct contact with the customers will enable the proprietor to

knowthe nature of their tastes, likes and dislikes. It enables him to make

necessary changes in the quality and design of his products. It will boost

his sales besides enhancing the reputation of the firm.

9. Smooth running of Business -  Since the sole trading concern is a

small business the soletrader appoints only a few employees who are

personally known to him.So he can understand their problems easily and

able to solve them to their satisfaction. The absence of friction with the

employeespaves the way for the smooth running of the business.

10. Inexpensive management - The soletrader is the owner, manager and

controller of thebusiness. He does not appoint specialists for various

functions. He personally supervises various activities and can avoid

wastage in the business. In this way managerial expenses are reduced to

a large extent.

11. Higher Credit Rating - The liability of a sole trader is unlimited.

Since, apart  from his business assets, even his private properties are also

available for satisfying the claims of creditors. Hence, creditors may

give more loans because they can get back the loan from the personal

properties of soletraders. Thus high credit rating helps soletrader to

borrow more funds from suppliers and banks.

12 Self-Employment - Sole proprietorship provides self employment

opportunity to many persons with small resources. It offers a way of life

forsecuring the means of livelihood to those who do not want to serve

under others. It makes people self-dependent by providing self-

employment.

13 Development of Personality - Sole proprietorship facilitates the

development of personal qualities like self-reliance, initiative and

independent judgment.

14. Equal Distribution of Economic Wealth - Sole proprietorship

provides an equal opportunity to everyone for self development.

It promotes decentralisation of business and helps to avoid concentration

of economic wealth in a few hands.

15. Easy dissolution - A sole trading concern is very easy to dissolve.

Whenever a sole trader wants to close his business, he can do so without

undergoing any legal formality.

16. Better co-ordination - As the size of the business is small with

limited resources, the sole trader can effectively co-ordinate the

activities of the business.

5. DEMERITS

1. Limited capital

The resources of a sole proprietor are limited. He depends only on his

personal resources and his borrowing capacity. The borrowing capacity

depends on his assets and credit worthiness. It is obvious that financial

resources of a single person will be insufficient for business expansion.

Limitation of finance is a major handicap for sole-

trader business. Therefore, the size of the firm remains small.

2. Limited Managerial Ability

The managerial ability of a soletrader is limited because a person may

not be an expert in each and every field of business such as purchasing,

selling, accounting etc. The sole proprietor maynot be able to use the

service of experts for want of resources. The limited managerial capacity

may hinder the growth of the business.

3. Unlimited Liability

The unlimited liability of a sole proprietor may affect his enthusiasm and

restrict introducing novel ideas in business.

4. Short Life

Anything which affects the personal life of a soletrader affects his

business also. Prolonged illness or death of the soletrader brings the

affairs of his business to a stand- still. If his children are interested and

efficient to run the business, the sole trader business can be continued.

Otherwise it will be closed. The closure of a business will

cause inconvenience to the consumers and may also result in social loss.

5. Hasty Decisions

Decisions arrived at, after deep deliberations and discussions are sure to

be better than that of a decision taken by one man. It is rightly said two

heads are always better than one.The chances of wrong decision-making

are quite high in a sole trader business. This is because of the fact that

the sole trader takes all decision of the business himself without any

assistance.This may lead to wrong decisions. The hasty decisions may

result in loss and affect the soletrader.

6. Lack of Specialisation

The sole trader has to undertake all the work relating to business himself

such as buying,selling, accounting, financing,advertising etc. He is a

jack of all trades but master of none. It would be difficult to avail the

services of experts in his business because of small resources. So, the

benefits of division of labour cannot be reaped and specailisation cannot

be achieved in this type of business.

7. Uneconomic Size

Because of limited capital and skill, the sole traders have to work on a

small scale basis. Thus he is deprived of economies of large scale

operation.

8. Lack of Consultation

He has no one else to consult before taking any important decisions

except his family members. This may result in heavy loss if his decisions

go wrong.

9. Uncertainty

The life of the sole trader business is uncertain and unstable.The life of

business depends upon the changes in taste and preferences of customers

and changes in fashion and technology.If soletrader fails to cope up with

the latest development he will land in trouble.

10. Risk of Entire Loss

As the sole trader is the sole owner of the business, he has to bear all

losses of his business.

6. SUITABILITY

Sole proprietorship is suitable for the following business:

1) Where small amount of capital is required,

e.g., Sweet shops, Bakery shops, Petty shops, etc,

2) Where quick decisions are very important,

e.g., Share-brokers, Doctors, etc.

3) Where limited risk is involved,

e.g., Automobile repair shops, Small retail stores, etc.

4) Where personal attention to individual tastes and fashions of

customers is required,

e.g., Beauty parlours, Tailoring shops, etc.

5) Where the demand is local, seasonal or temporary,

e.g., Retail trade, Laundry, Fruit sellers, etc.

7. ROLE OF SOLE PROPRIETORSHIP IN THE SOCIETY

Consumers are the kings. They decide the success of a business.Their

needs, desires, expectations are to be satisfied by the businessmen. Sole

proprietorship occupies a pivotal role in satisfying the multifarious needs

of consumers regarding goods and services. The day to day requirements

of the consumers such as food items, cloth, stationaries, laundries,

provisions, books and newspapers, medicines etc., are supplied by

the soletrader form of organisation.The soletrader who supply these

goods are respected by the society. Thus the soletraders have a

responsibility to promote the welfare of the society. Sole proprietorship

has its own areas of activity and continues to exist inspite of

the development of bigger organisations. This form of organisation has a

social desirability also. It provides valuable services to the society. Its

social necessityarises due to the following ways.

1. Solution to unemployment problem

Sole trader business organisation gives large employment opportunities

to the less educated and uneducated persons and helps to reduce the

unemployment problem in the society.

2. Provides Investment Avenues

Soletrader organisation provides a chance for small investors who has

small amount of capital to utilise their savings in the productive line.

3. Provision of goods at low price

Goods are sold by soletraders at a price lesser than the maximum retail

price ( MRP ) mentioned on the packages of the goods. This is possible

due to inexpensive management.

4. Helps small producers

Most of the goods sold by soletraders are procured locally from local

producers. Thus small local producers are benefited by the soletraders.

5. Supply of Quality goods

Soletraders sell goods of high quality nowadays to maintain their

reputation. They even accept return of defective goods. This ensures

enhancing the welfare of the public.

6. Philanthrophic Activities

Soletraders form small trading organisation among themselves and

undertake a number of social welfare activities suchas conducting eye

camps, maintaining parks,provision of baricades on the roads, supplying

furnitures to schools etc.

7. Equal Distribution of Income and Wealth

Equal distribution of income and wealth is ensured as thereare more

entry of sole proprietors in trading activities.

8. Helpful to consumers

The soletraders supply the goods to the consumers at their door steps. So

the time and energy of the consumers are saved.

8.ONE-MAN CONTROL IS THE BEST IN THE WORLD

William R. Basset has said that one-man control is the best in the world

only when the business is small indeed, to allow one actually to know

and supervise everything in the business.

Following are some of the points in favour of one man control

1. Easy and quick formation.

2. Direct control.

3. Efforts and reward are linked.

4. Retaining business secrets.

5. Close touch with the consumers.

6. Enjoying all profits.

7. Inexpensive management.

8. No legal restrictions.

9. Direct contact with the employees.

10 Social desirability.

Limitations of one-man control

Though there are many advantages of one-man control, still it

suffers from many drawbacks. One man is unable to manage allthe

affairs by himself. Basset says “ The danger is always presentthat he

thinks, he knows which really he does not know”. Following are some

points unfavourable for one-man control.

1. Limited capital.

2. Limited managerial ability.

3. Unlimited liability.

4. Absence of large scale business operation.

5. Risky decisions.

6. Uncertainty.

In conclusion, one-man control is the best from the point of view of

profitability and efficiency, provided that one man is ableto manage

everything efficiently.

bharti airtelnameBharti Airtel Limited. business descriptionBharti Airtel Limited is a leading global telecommunications company with operations in 20 countries across Asia and Africa. Headquartered in New Delhi, India, the company ranks amongst the top 4 mobile service providers globally in terms of subscribers. In India, the company's product offerings include 2G, 3G and 4G wireless services, mobile commerce, fixed line services, high speed DSL broadband, IPTV, DTH, enterprise services including national & international long distance services to carriers. In the rest of the geographies, it offers 2G, 3G wireless services and mobile commerce. Bharti Airtel had nearly 287 million customers across its operations at the end of Dec 2013 establishedJuly 07, 1995, as a Public Limited Company  ISININE397D01024 

 proportionate revenueRs. 219,385 million (ended Dec 31, 2013-Audited)Rs. 193,624 million ( ended Dec 31, 2012-Audited)As per IFRS Accounts proportionate EBITDARs. 70,934 million ( ended Dec 31, 2013 - Audited)Rs. 57,749 million ( ended Dec 31, 2012- Audited)As per IFRS Accounts shares in issue3997.4 Mn shares as at Dec 31, 2013 listingsBombay Stock Exchange Limited (BSE)National Stock Exchange of India Limited (NSE) stock exchange symbolNSE – BHARTIARTLBSE – 532454 market capitalisation

 customer baseIndia: 198,513,000 GSM mobile; 3,355,000 –Tele media customers and 8,807,000- Digital TV Services(status as on Dec 31, 2013)International: 76,733,000 GSM mobile customers.(status as on Dec 31, 2013)

About Wipro Infotech

Wipro Infotech is a leading manufacturer of computer hardware and provider of IT services in India and the Middle East region. Part of Wipro Ltd, the $6.98 billion conglomerate and global leader in technology enabled solutions, the company leverages on the parent's philosophy of 'Applying Thought' to enable business results by being a transformation catalyst.Backed by our strong quality processes and rich experience managing global clients across various business verticals, we align IT strategies to your business goals. From simple changes in process to innovative solutions, we help our customers harness the power of IT to achieve profitable growth, market leadership, customer delight and sustainability. Along with our best

of breed technology partners, Wipro Infotech also helps you with your hardware and IT infrastructure needs.Our vast IT services portfolio includes consulting, systems integration, application development and maintenance, technology infrastructure services, package implementation and R&D services among others.Wipro Infotech maintains offices across India, and has operations in Middle East. We also have a joint venture with DAR Al Riyadh Group in Saudi Arabia.

Awards and recognitions[edit]

In May 2013, it was ranked 812th on the Forbes Global

2000 list.[86]

Wipro was ranked 2nd in the Newsweek 2012 Global 500

Green companies.[87]

It was recognized by the Ethisphere Institute as one of the

World’s Most Ethical (WME) Companies in 2013, for the

second year in a row.[88][89]

Wipro received the 'NASSCOM Corporate Award for

Excellence in Diversity[disambiguation needed] and Inclusion, 2012', in

the category 'Most Effective Implementation of Practices &

Technology for Persons with Disabilities'.[90][91]

In 2012, it was awarded the highest rating of Stakeholder

Value and Corporate Rating 1 (SVG 1) by ICRA Limited.[92]

It received National award for excellence in Corporate

Governance from the Institute of Company Secretaries of

Indiaduring the year 2004.[93]

The Tata group’s mission is to improve the quality of life of the

communities it serves globally, through long-term stakeholder value

creation based on leadership with trust.

Founded by Jamsetji Tata in 1868, the Tata group is a global

enterprise headquartered in India, and comprises over 100 operating

companies, with operations in more than 100 countries across six

continents, exporting products and services to over 150 countries. The

revenue of Tata companies, taken together, was $103.27 billion

(around Rs624,757 crore) in 2013-14, with 67.2 percent of this coming

from businesses outside India. Tata companies employ over 581,470

people worldwide.

Good corporate citizenship is part of the Tata group’s DNA. Sixty six

percent of the equity of Tata Sons, the promoter holding company, is

held by philanthropic trusts, thereby returning wealth to society. As a

result of this unique ownership structure and ethos of serving the

community, the Tata name has been respected for more than 140

years and is trusted for its adherence to strong values and business

ethics.

Each Tata company or enterprise operates independently and has its

own board of directors and shareholders, to whom it is answerable.

There are 32 publicly-listed Tata enterprises and they have a

combined market capitalisation of about $141.02 billion (as on

September 25, 2014), and a shareholder base of 3.9 million. Tata

companies with significant scale include Tata Steel, Tata Motors, Tata

Consultancy Services, Tata Power, Tata Chemicals, Tata Global

Beverages, Tata Teleservices, Titan, Tata Communications and

Indian Hotels.

Many Tata companies have achieved global leadership in their

businesses. For instance, Tata Communications is the world’s largest

wholesale voice carrier and Tata Motors is among the top five

commercial vehicle manufacturers in the world. Tata Steel is among

the top 10 best steelmakers and TCS is amongst the top 10 global IT

services companies. Tata Global Beverages is the second-largest

player in tea in the world and Tata Chemicals is the world’s second-

largest manufacturer of soda ash. Employing a diverse workforce in

their operations, Tata companies have made significant local

investments in different geographies.

In tandem with the increasing international footprint of Tata

companies, the Tata brand is also gaining international recognition.

Brand Finance, a UK-based consultancy firm, valued the Tata brand

at $21.1 billion and ranked it 34th among the top 500 most valuable

global brands in their BrandFinance® Global 500 2014 report.

With its pioneering and entrepreneurial spirit, the Tata group has

spawned several industries of national importance in India: steel,

hydro-power, hospitality and airlines. The same spirit, coupled with

innovativeness, has been displayed by entities such as TCS, India’s

first software company, and Tata Motors, which made India’s first

indigenously developed car, the Tata Indica and the smart city car, the

Tata Nano. Pursuit of excellence has similarly been manifested in

recent innovations like the SilentTrack technology developed by Tata

Steel Europe and the next-generation Terrain Response, including

infrared laser scanning to predict terrain, and Wade Aid to predict

water depth, by Jaguar Land Rover.

The Tata trusts, majority shareholders of Tata Sons, have endowed

institutions for science and technology, medical research, social

studies and the performing arts. The trusts also provide aid and

assistance to non-government organisations working in the areas of

education, health care and livelihoods. Tata companies themselves

undertake a wide range of social welfare activities, especially at the

locations of their operations, as also deploy sustainable business

practices.

Going forward, Tata companies are building multinational businesses

that seek to differentiate themselves through customer-centricity,

innovation, entrepreneurship, trustworthiness and values-driven

business operations, while balancing the interests of diverse

stakeholders including shareholders, employees and civil society.

District Industries Center (DIC) The concept of District Industries Center came during the year 1977, when Government of India announced the new Industrial policy on 23.12.1977. It laid special stress on the development of Small Scale, Village and Cottage Industries and indicated that the "District Industries Centre" would be the main focus agency for promotion of small scale, village and cottage industries. In each district, one agency was created to deal with all requirements of small and village industries. Administration Joint Director is the head of the District Industries Centre. The post of Joint Director is of the rank of Special Deputy Commissioner (Revenue). The Joint Director is assisted by Deputy Director/ Assistant Director, Industrial Promotion Officer and Industrial Extension Officer at taluk level. Monitoring of DICs The functions and activities are monitored by the Directorate of Industries

and Commerce. Functions A .Registration of MSMEs

IEM Part – I to M S M Es IEM Part – II to M S M Es

B. Infrastructure Assistance to Entrepreneurs

Grievance redressal through the District Level Clearance Committee under the chairmanship of the Deputy Commissioner of the District.

Allotment of KIADB's land to MSME's in the District through District Level Clearance Committee.

Allotment of KSSIDC's Plot and Shed to MSME's in the District through District Level Clearance Committee.

Recommendation for loans from financial Institutions & banks.

C. Implementation of Incentives Scheme

Sanction and Disbursement of Investment Subsidy of Government of Karnataka

Inspection and recommendation of Investment Subsidy to food processing Industries of Government of India.

D. Employment Generation programmes

Implementation and Monitoring of Prime Minister Employment Generation programmes.

E. Special Component Plan (SCP) and Tribal Sub Plan (TSP)

Implementation and Monitoring of Special Component Plan (SCP) and Tribal Sub Plan (TSP) schemes to provide assistance to the SC and ST artisans;

Training. Leaving cum

worksheds. Improved toolkits. Soft seed capital. Venture capital. Equity Share.

F. Entrepreneurship development and Awareness programmes.

Hobli level, Taluk level and District Level. Vendor development programmes.

G. Other works

Arranging Buyer-Seller Meets. District and Taluk level Industrial Exhibitions.

Cluster development programmes. Sensitization programmes. Recovery of departmental loans Follow up of Industrial Approvals

SECTORAL ADVANTAGES

 The state offers very good opportunity for the industries in the sectors of Information Technology, Bio-technology, agro processing, engineering, textiles, floriculture and so on. The brief details on advantages-sector wise are given below :

Information Technology Biotechnology Electronics and Telecommunications Agro Food Processing Apparel Handicrafts Automobiles Banking and Finance

Information Technology

Miles ahead of the rest

There are over 925 software companies employing over 80,000 IT professionals and 80 private IT parks. Apart from Indian IT majors like Infosys, Wipro, Tata Consultancy Services and Microland, the world's leading IT companies likeGE, Texas Instruments, CISCO, Digital, IBM, HP, Compaq, Motorola, Lucent Technologies, Microsoft, Sun Microsystems, Oracle, Novell and several others have made Bengaluru their home. Bengaluru is also the first choice of overseas vendors for outsourcing. In fact about 50% of the world's SEI CMM Level 5 certified companies are located in Bengaluru.

Over 40% of Bengaluru's software exports are in the high technology areas-IT access networks, optical networks, video broadcasting, Bluetooth. WAP, 3G Wireless Applications, VOIP, ATM switches, SDH, etc. Software exports from Bengaluru touched an all-time high of Rs.79,517 crores (US $ 16 billion) during the year 2007-2008. Biotechnology Top

Blazing a new trail

Karnataka leads the Indian biotechnology revolution with its excellent infrastructure and a highly integrated environment for biotech research. It is host to a number of leading biotech companies and start-ups, as well as some of the finest R&D facilities in the world - The Indian Institute of Science (ranked 18th best University in the world), The National Center for Biological Sciences, The Jawaharlal Nehru Center for Advanced Scientific Research, TheUniversity of Agricultural Sciences, The Central Food Technological Research Institute, and The Institute of Bio-Informatics and Biotechnology.

Biotech policy is aimed at encouraging investments, developing infrastructure and enhancing human resources. Electronics and Telecommunications Top

The undisputed leader

The list of companies includes global giants like Siemens, Motorola, AT&T, Alcatel, Sony, Sanyo, GE and British Aerospace as well as national biggies like, Indian Telephone Industries Limited, BPL Limited and a host of others.

The state's turnover of over US $ 1 billion accounts for 20% of the national output. With Karnataka Government's Free Right Way Policy which allows private companies to lay Optic fibre cables anywhere in the state, the city will shortly have more players offering hitech connectivity at competitive costs.

Highlights

A 500-acre Electronics city in Bengaluru with several more in other centers. STPI-Bengaluru, provides incubation facilities and datacom services. Electronic trade and Technology Development Center provides quality human resource. Excellent telecom infrastructure with 140 out of 170 towns connected by OFC network. Hardware Technology park on the anvil. Agro Food Processing Top

A sumptuous buffet of opportunities

With its 10 agro-climatic zones and nine district soil types, it is an ideal place for growing virtually every kind of agricultural and horticultural produce. Several major international food companies include Nestle, Unilever, Global Green, Danone, Wrigleys, Heinz, Pepsi and Coca-Cola, Nissin, Ovobel, among others. Karnataka is also the leader in floriculture, accounting for 75 % of India's total flower production. Apparel Top

Dressing up the world in styleBeing a major producer of cotton (1,70,000) tonnes and silk (8,200 tonnes), it is only natural that Karnataka should be a major center for textiles and garments with exports of over Rs. 138 crores (US $ 1.4 billion) in the year 2006-2007. Many leading international brands are now manufactured in Karnataka, viz. Arrow, Allen Solly, Lacoste,Tommy Hilfiger, Lee, Levi Strauss.

The Karnataka Government actively encourages the industry by setting up apparel parks that offer all modern facilities required for the industry to flourish. Handicrafts TopA rich tradition of exquisite craftsmanship

Karnataka, a land rich in history and culture, presents a bewitching range of objects

d'art- exquisite sandalwood carvings, intricate inlay work on rosewood, splendid bronzes, beautiful bidriware, colourful lacquerware toys, ethnic dhurries, batiks, stone studded jewelry and incense sticks. Automobiles TopReviving up for a revolutionThe state boasts of a vibrant auto industry with investments of over US $596.73 Million and an annual turnover of US $ 408.16 Million. It is the preferred location of auto giants like Volvo, Toyota, Kirloskar, TVS Suzuki, Telco, L&T Komatsu and BEML as well as auto component majors like BOSCH, Delphi, Denso, Yuasa, VDO, Escorts, Rane and many more. Bengaluru is also the base for India's First electric car- REVA. Banking and Finance TopExtensive and excellent back-upKarnataka offers strong financial support to entrepreneurs through several Government Karnataka institutions likeKSIIDC, KITVEN and KSFC as well as Government of India financial institutions like IDBI, IFCI, SIDBI, NABARD andICICI. Four of the country's major nationalized banks viz. Corporation Bank, State Bank of Mysore, Canara Bank, andVijaya Bank, as well as one of India's largest private banks, Vysya Bank, have their headquarters here with the world's leading banking corporations like CITIBANK, Bank of America, Standard Chartered Bank, HSBC, Deutsche Bank, Bank Muscat, Nova Scotia and several others setting up their branches here.

Judith’s story – Somerset Lavender, UKOverview

Judith Green set up a lavender farm, cafe, craft shop and online shopping service using local produce and involving her local community in Somerset, UK.

About the business

Judith and her husband, Francis, planned their business, Somerset Lavender, for four years before they opened in May 2006.

The main product is essential oil distilled from the lavender fields. Chocolate and lavender fudge as well as honey and lemon are also sold in the shop. Judith tries to link the products to what they produce. They also buy in quality

products from local producers and farmers. Other products include lavender candles, soaps, heart shaped lavender bags and wheat bags. Judith’s neighbour does the sewing and Judith fills the bags. Another neighbour bakes the cakes which include lavender cake, of course!

In the cafe and craft shop, they serve lunches, teas and snacks. They also offer evening tours and suppers.

Lavender attracts a variety of people as it has universal appeal. It is traditionally viewed as something for your grandmother and a lot of grannies do visit. People like to bring their relatives and wander through the gardens. The gardens have flat, level paths suitable particularly for the elderly and disabled visitors. Younger people with children also like to visit to see the animals and enjoy the countryside. The third group are people who use lavender for its healing properties. They are interested to see the plants that they are using and how they grow in the healing garden.

How the business was set up and why

Judith and Francis were looking to diversify from dairy farming as the price of milk continued to fall. They did not receive any official help with their plans. They helped each other and had good friends who helped at the planning stage. Judith went on sustainable rural tourism course at Norton Radstock College which was very useful at a critical stage and it helped them to make contact with local people & refine their thinking.

What makes the business different?

Judith & Francis see sustainability as vital and that they need to farm the land responsibly. They encourage their customers to think of sustainability too. They have several initiatives such as the ‘stampy bag’ scheme whereby visitors receive a stamp on their bag every time they visit and if they bring back a honey jar, for example. This was their daughter’s ideas she is very keen on recycling and visitors have responded well to the scheme. They also recycle water from their roofs and barns through rain butts as plants prefer rain water. Attractive dry stone walls surround the farm which they carefully restore if they fall down or are damaged by cattle. They try to help people to think of the countryside in a slightly different way and think of what they can do to look after it.

Managing the business

The visitor attraction is seasonal and is open May to September when the lavender is in bloom. To manage this seasonality, Judith attracts business through

Christmas shopping events and markets and online sales throughout the year. They do not make an admission charge to the farm and generate income from the sale of products and refreshments.

Promoting the business

As well as a website on which they have an online shop, Judith has used a range of methods to market the business including leaflets, word of mouth, attending country shows and press articles. As Judith says ‘The key to PR is to remember that it takes ages! For example, this year we will have features in three national magazines. It has taken an e mail and a phone call every year for the last five years to get it!’

Plans for the future

Judith and Francis are very pleased with the business after a very steep learning curve. Visitors seem thrilled with the farm and many return with friends and family.

Entrepreneur Questionnaire

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Description of good or service provided.

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KPO, Knowledge Processing Outsourcing is essentially an offshoot of BPO. It is the high end activity of the BPO industry and is estimated to have a magnificent growth in the coming years. It is a wave that has lashed the Indian shores and aims to tap the Indian talent in the fields that require expertise and enhanced knowledge. In short, KPO involves off shoring of knowledge intensive business processes that require specialized domain expertise.

India's Intellectual Potential

India's intellectual potential is the key factor for India being the favored destination for KPO industry. India has a large pool of knowledge workers in various sectors and their talent is being discovered and tapped by leading businesses across the globe. Cost savings, operational efficiencies, access to a highly talented workforce and improved quality are all underlying expectations in off shoring high-end processes to India .

KPO Services Outsourced to India

India is a good outsourcing location. There are several services that can be outsourced to India :

Research & Development Business and Technical Analysis Learning Solutions Animation & Design Business & Market Research Pharmaceuticals and Biotechnology Medical Services Writing & Content Development Legal Services Intellectual Property (IP) Research Data Analytics Network Management Training & Consultancy

Challenges in KPO

KPO is an outsourcing industry that delivers high value to organizations in terms of domain based processes and business expertise. The industry demands advanced analytical and specialized skill of knowledge workers and therefore faces several challenges.

The major challenges faced by KPO are :

Maintaining higher quality standards Investment in infrastructure Requirement of higher level of control Lack of talent pool Enhanced risk management

The major call center cities in India are :

Delhi and NCR : Delhi and NCR has a number of popular call centers like American Express, Wipro, converges, Daksh, etc. In Delhi the employees working in call centers is calculated to be almost 73, 000.

Hyderabad : It has call centers of HSBC, Satyam and Microsoft. The employees here are said to be around 36,500.

Banglore : The major call centers in Banglore are Infosys, Wipro, Intel, Oracle, etc. The number of employees working are 109,500.

Mumbai : The number of people working in call centers of Mumbai like TCS, Morgan Stanley, etc. are 62,050.

Chennai : Chennai has a working population of 51,100 in call centers.

Kolkatta : The major call centers there are Infotech, TCS and the people working there are 7,300.

Pune : Pune also has a working population of 7,300 in call centers.