BUDDING ENTREPRENEUR: A student of Loyola Institute of Business Administration makes a presentation at `Amaranthine 2006' in Chennai on Sunday. — Photo: K.Pichumani

CHENNAI: President A.P.J Abdul Kalam, on his recent visit to the Loyola Institute of Business Administration (LIBA), emphasised the need for more entrepreneurs in the country.

Taking the hint, part-time students of the institute organised `Amaranthine 2006,' a deliberation on `development of entrepreneurship skills through management education', here on Sunday.

"It is very important to keep your stakeholders happy in any enterprise," said C.K. Ranganathan, chairman and managing director, Cavin Kare.

He explained how satisfying employees, suppliers, banking and financial institutions, government and shareholders paid off in his experience.

Inspired by his father's philosophy, "Whatever a rich man enjoys should be affordable to a common man,"

Mr. Ranganathan went ahead with his venture with a small investment. "It is no easy task to forego a particular comfort level one is used to. The ability to take risks is vital for an entrepreneur."

Such risks and innovative strategies eventually made Cavin Kare a Rs.500- crore company.

"When you choose employees, their competency should take the front seat and loyalty, the back seat," he said. "No research can replace hands-on experience."

Mr. Ranganathan waited till he got comfortable in business. "I was in no hurry to invest in fixed assets. In fact, I invested in office space and a home only a few years ago."

Students made presentations on topics related to entrepreneurship.

LIBA director Fr. P. Christie congratulated students on choosing a relevant topic.

Rector Fr. Jeyaraj and professor M.S. Kumar were present.

Guests of honour included K. Pandia Rajan, managing director, Ma Foi Management Consultants, and Xavier Britto, chairman, Indev Group of Companies.

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