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Entrepreneurship and the Indian retail industry

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  1. Introduction
    1. Retail in India
    2. Demographics and consumer behavior
    3. Urbanization of population
    4. Factors leading to a consumption boom
  2. Entry strategies for the Indian retail market
    1. Entry channels
    2. Equity investment
  3. Key challenges in the Indian market
  4. A brief study of the unorganized sector
  5. Segments and formats
    1. Formats in India
    2. Lessons from US â€" the retail pioneer
    3. Lessons from Asia 20
    4. Lessons from Chinese retail market
  6. Cities to watch out for retail marketing
  7. International retailers planning foray in India
    1. Business description
    2. SWOT analysis
  8. Key statistics
  9. References
  10. Conclusion

In India the retail industry is large, and it will continue to grow. The industry has a huge appetite for investments and is already seeing a lot of action on that front. A large number of global retailers are eyeing to get a share of the Indian retail pie. This report aims to aid them. Global retailers are today operating in India with the help of a domestic partner. Some are participating in front-end operations and some are planning to run the back-end and let the Indian partner operate the stores. But when the FDI restrictions are removed they would want to operate their stores independently. This report helps them prepare for that scenario well in advance. The objective of the report is to analyze the scenario in the retail industry in India and recommends winning strategies to Global retailers. An entrepreneur is a person who has possession of an enterprise, or venture, and assumes significant accountability for the inherent risks and the outcome. It is an ambitious leader who combines land, labor, and capital to create and market new goods or services. The term is a loanword from French and was first defined by the Irish economist Richard Cantillon. Entrepreneur in English is a term applied to the type of personality who is willing to take upon her or himself a new venture or enterprise and accepts full responsibility for the outcome. Entrepreneurship is often difficult and tricky, as many new ventures fail. The word entrepreneur is often synonymous with founder. Most commonly, the term entrepreneur applies to someone who creates value by offering a product or service. Entrepreneurs often have strong beliefs about a market opportunity and organize their resources effectively to accomplish an outcome that changes existing interactions.

[...] In 1991, when the Indian economy was being opened up, Naresh Goyal took advantage of Open Skies Policy of the Government of India and set up Jet Airways for the operation of scheduled air services on domestic sectors in India. Jet Airways started commercial operations on May Benjamin Franklin. In a real sense, Franklin was America's first entrepreneur. Unlike other of the Founding Fathers the hypermoral Washington, the prodigiously intellectual Jefferson whose virtues and attainments are seen today as anachronisms, Franklin truly was a model of what many of us would become. [...]

[...] Promotion of Entrepreneurship Entrepreneurship education seeks to provide students with the knowledge, skills and motivation to encourage entrepreneurial success in a variety of settings. Variations of entrepreneurship education are offered at all levels of schooling today. What makes entrepreneurship education distinctive is its focus on realization of opportunity, where management education is focused on the best way to operate existing hierarchies. Both approaches share an interest in achieving "profit" in some form (which in non-profit organizations or government can take the form of increased services or decreased cost or increased responsiveness to the customer/citizen/client). [...]

[...] The industry then evolved their franchisee systems to a competence basis which ensure minimum skill levels and performance. It reduced the failure rate to such a low level that failure in franchising is considered unusual.[citation needed The most famous franchise is McDonalds that requires new franchisees to attend their Hamburger University and study for a minimum of 9 months full- time to prove their competence in their business system. Direct Sales Over 95% of companies in the $100bn Direct Sales industry now offer a leadership business opportunity. [...]

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