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Entrepreneurs - celebrated amd unsung
Transcript of Entrepreneurs - celebrated amd unsung
CO OWNER OF ZARA
Source of Wealth: Zara, self-made
Country of Citizenship: Spain
Marital Status: Divorced
Net Worth: $6.1 B As of March 2013
#66 Power Women
#54 in 2012
#2 in Spain
At a Glance
Mera began designing gowns and lingerie in her home with her then-husband, Amancio Ortega Gaona.
The couple opened the first Zara store in 1975 in La Coruña.
Eventually the couple parlayed their work into a multi-billion dollar enterprise. Zara's success was in part due to its strategy of imitating popular fashions and quickly making them for sale at inexpensive prices.
Ten years after the opeining of the first Zara store, Inditex was established as a holding company for the couple's businesses. Inditex now comprises multiple fashion companies, of which Zara is the flagship.
The company also owns the retailers Bershka, Masssimo Dutti, Oysho, Pull & Bear, Stradivarius, Uterque and Zara Home.
Inditex now has over 6000 stores in over 86 countries and over 120,000 employees.
Despite her 1986 divorce from Ortega, Mera retained a 7% stake in the company
Mera also owned interests in a company which made fingerprinting identification kits for newborns and another company, Zeltia, which carries out research into cancer fighting compounds of both synthetic and natural origin and particularly those bioactive compounds originating in the ocean.
She was a major investor in the London Bulgari Hotel opened in 2012.
According to the 2013 Forbes billionaire list, Mera was the world's wealthiest self-made female entrepreneur, with a net worth of over $6 billion. She was the second-wealthiest person from Spain, second only to her ex-husband.
In March this year, a fashion empire that started life on a kitchen table in a downtrodden corner of northwest Spain was named International Retailer of the Year at the Oscars of the retail industry, the Oracle Retail Week Awards.
That clothing company was Zara, which had been chosen by some of the biggest names in the industry, including Andy Clarke, the chief executive of Asda, and Terry Duddy, the chief executive of Home Retail Group.
Only 15 years after opening its first store in the UK, Zara’s parent company, Inditex, has grown into a global giant with a market cap of almost €65bn (£55bn), with shares rising from €60 in 2007 to €103.
Even more remarkable, however, is that Zara has achieved this growth by staying true to its Spanish roots, rather than by outsourcing manufacturing to China, the path taken by so many other mainstays of the British high street in recent decades.
Unlike, for example, M&S, which manufactures much of its clothing through third parties overseas, Zara produces more than half its products at its own manufacturing base outside the port city of La Coruna in northern Spain.From this base, which allows the company to compete with the sprawling factories of China, Inditex has set the benchmark for “fast fashion”, taking trends from the catwalk to the shop floor within two weeks.
Mera co-founded Inditex with her then-husband, Amancio Ortega, who began his career in clothing manufacturing in 1963 before the couple opened their first Zara store in the 1970s. Initially making women’s bathrobes, the company expanded to sell eight different brands, including Massimo Dutti and Bershka, with more than 6,000 stores in 86 markets. Sales in 2012 reached 15.9 billion euros ($21 billion).
Mera’s estimated net worth of $5.5 billion made her Spain’s richest woman, according to the Bloomberg Billionaires Index. Ortega, 77, owns a 59.3 percent stake in Inditex and is the world’s fourth-richest person, with a net worth of $56.9 billion, according to the index.
After Inditex’s initial public offering in 2001, Mera and her daughter, Sandra, became the second-largest shareholders through their family investment vehicle Rosp Corunna. She holds almost 7 percent of Inditex (ITX), according to the Spanish stock-market regulator.
Other investments include a 5 percent stake in Spanish biotechnology company Zeltia SA, as well as holdings in film and television production, and real estate.
Rosalia Mera Goyenechea was born on Jan. 28, 1944, in a working-class neighborhood of La Coruna, a northwestern city in Spain’s Galicia region. She dropped out of school at age 11 to work as a sales assistant in a clothing shop. Mera married Ortega in 1966.
In 1975, she and her husband opened the first Zara store in La Coruna, and Inditex was founded as a holding company for the group of businesses 10 years later. Zara expanded abroad in 1988, opening a store in Portugal, before establishing an outlet in New York the following year and a Paris store in 1990. The company is based in Arteixo, Spain.
On 14 August 2013, Mera was admitted to a hospital in Menorca in an ‘irreversible situation’ after suffering a stroke. The family had been on holiday in Menorca. Mera died on 15 August 2013 in A Coruña. She had been transferred by plane to the port city and then by ambulance to the Hospital San Rafael de A Coruña where she later died of complications.
Chairman and Managing Director, Glenmark Pharmaceuticals Limited
At a Glance
Educational Qualifications: Bachelor Degree in Pharmacy from Mumbai University
MBA from Leonard Stern School of Business, New York University
Past Experience: Joined Eli Lily’s global marketing team soon after graduation
Last assignment with Price Water House Coopers USA
As consultant at PWC worked with Rhone Poulenc Rhorer, Bristol Myers Squibb, Astra Merck and Smith Kline Beecham
“Young Business Leader of the Year” by UK Trade & Investment in Oct‟09
India’s second most „Valueable CEO – Business World Dec‟08
“21 leaders to watch out for in the 21st Century” - Business Today – Jan‟08
Glenmark is a pharmaceutical company headquartered in Mumbai, India. It manufactures and markets generic formulation products and active pharmaceutical ingredients (API), both in the domestic and international markets.
In the formulation business, its business spans segments such as Dermatology, Internal Medicine, Paediatrics, Gynaecology, ENT and Diabetes.
Glenmark strives to promote responsible corporatemanagement in social and environment areas.
The company believes in enriching the lives of people by providing innovative medicines which meet high quality standards.
As the Chairman & MD of Glenmark Pharmaceuticals.Limited, Glenn Saldanha oversees the entire operations of the organization.
Glenmark from an India focused branded generics business to an organization which has significant presence across major emerging and developed economies. Glenmark‟s branded generics presence is spread across five regions viz. Asia including India, Central Eastern Europe, Africa, Latin America and CIS. In less than half a decade, Glenmark has established itself among the top 25 generics companies in the US and also built a sizeable API business in a short period.
But the biggest achievement for Glenmark during his tenure has been its ability to discovery best-in-class or first-in-class molecules for global development and unmet medical needs thus positioning Glenmark as a leader in drug discovery. Glenmark has managed to strike five outlicensing deals in innovative R&D with big pharma. Even then, Glenmark has presently a rich pipeline of seven molecules in clinical trials all having potential in the range of USD 1 billion to 3 billion if successfully commissioned. Glenn‟s vision is to discover, develop and take to market India‟s first innovative drug for the entire world.
LATIN AMERICA 3,467.91
REST OF THE WORLD (ROW) TOTAL 50,123.42
SEGMENTAL REVENUE OF GLENMARK
(ALL AMOUNTS IN MILLIONS OF INDIAN RUPEES)
• James Laurence "Jim" Balsillie
BlackBerry (Research in Motion)
James Laurence "Jim" Balsillie (born February 3, 1961) is a Canadian businessman, philanthropist and founder and former co-CEO of the Canadian company Research in Motion ('BlackBerry').
He is also the founder of the Centre for International Governance Innovation (CIGI), Canadian International Council (CIC) and the Balsillie School of International Affairs (BSIA).
Following his retirement as co-CEO of RIM in January 2012, Balsillie assumed a director role on RIM's Board of Directors.
In March 2012, he resigned from the Board due to strategic differences with RIM's new leader and CEO, Thorsten Heins, who abandoned the licensing strategy that Balsillie was pursuing.
•He received a Bachelor of Commerce degree from Trinity College at the University of Toronto. He earned an MBA from Harvard Business School in 1989
Responding to the settlement by RIM against NTP, Inc., Balsillie listed several flaws with the U.S. patent system; particularly that too many "bogus" patents are issued. He also stated that the judge in the case ignored later findings by the U.S. patent office that NTP's patents were not valid, and quoted a Newsweek article in saying that the court's treatment of RIM was like "a judge in a murder case pondering execution while ignoring DNA evidence that exonerates the accused."
On March 5, 2007, Balsillie resigned his role as chairman of RIM as the firm reported over US$250 million in past stock option accounting errors after an extensive review. He retained his roles as co-chief executive and director.
On January 22, 2012, Balsillie, along with Co-Chief Executive Officer Mike Lazaridis, resigned his position, to be replaced by RIM Chief Operating Officer Thorsten Heins
On March 29, 2012, Research in Motion announced that Balsillie will be stepping down from the Board of Directors. Balsillie reportedly wanted to continue the existing strategy, while new CEO Thorsten Heins said that a major shift was required.
Strategy shift- Balsillie hoped to allow major wireless companies in North America and Europe to provide service for non-BlackBerry devices routed through RIM's proprietary network, a major break with the BlackBerry-only strategy pursued by RIM since its inception.
The plan would have let the carriers use the RIM network to offer inexpensive data plans, limited to social media and instant messaging, to entice low-tier customers to upgrade from no-frills phones to smartphones.
Founder of Reliance Industries
At a Glance
Born - December 28, 1932(Chorwad, Gujarat, British India)
Died - July 6, 2002 (aged 69) Mumbai, India
Cause of death - Stroke
Ethnicity - Gujarati
Occupation - Founder of Reliance Industries
Spouse - Kokilaben Ambani
Children -Mukesh Ambani, Anil Ambani, Nina Kothari, Deepti Salgaonkar
Dhirajlal Hirachand Ambani better known as 'Dhirubhai Ambani', was an Indian business tycoon who founded Reliance Industries in Mumbai with his cousin.
Dhirubhai has figured in the Sunday Times list of top 50 businessmen in Asia. Ambani took Reliance Industries public in 1977, and by 2007 the combined fortune of the family was $60 billion, making the Ambani's the second richest family in the world.
Ambani died on July 6, 2002
Dhirubhai Ambani started, of by working with a firm in Yemen in the 1950s and moved to Mumbai in 1958 to start his own business in spices.
After making modest profits, he moved into textiles and opened a mill in Naroda industrial area of Ahmedabad. He founded Reliance Industries in 1966, and as of 2012, the company has over 85,000 employees and provides almost 5% of the Central Government's total tax revenue
. As of 2012, Reliance Industries was listed among top 100 firms in Fortune 500 list of world's biggest companies by revenues.
Dhirubhai Ambani returned from Yemen to India and started "Majin" in partnership with Champaklal Damani his second cousinwho lived with him in Aden, Yemen.
Majin was to import polyester yarn and export spices to Yemen.
The first office of the Reliance Commercial Corporation was set up at the Narsinatha Street in Masjid Bunder.
In 1965, Champaklal Damani and Dhirubhai Ambani ended their partnership and Ambani started on his own. It is believed that both had different temperaments and a different take on how to conduct business.
While Damani was a cautious trader and did not believe in building yarn inventories, Ambani was a known risk-taker and believed in building inventories, anticipating a price rise, and making profits.
Majin Commercial Corporation
In the year 1975, a Technical team from the World Bank visited the Reliance Textiles' Manufacturing unit.
In 1982, Reliance Industries came up against a rights issue regarding partly convertible debenturesIt was rumored that the company was making all efforts to ensure that their stock prices did not slide an inch. Sensing an opportunity, The Bear Cartel, a group of stock brokers from Calcutta, started to short sell the shares of Reliance. To counter this, a group of stock brokers until recently referred to as "Friends of Reliance" started to buy the short sold shares of Reliance Industries on the Bombay Stock Exchange.
After this incident, Not many people were able to understand as to how a yarn trader until a few years ago was able to get in such a huge amount of cash flow during a crisis period.
The answer to this was provided by the then finance minister, Pranab Mukherjee in the Parliament. He informed the house that a Non-Resident Indian had invested up to INR 220 million in Reliance during 1982-83.
These investments were routed through many companies like Crocodile, Lota and Fiasco. These companies were primarily registered in Isle of Man.
The interesting factor was that all the promoters or owners of these companies had a common surname Shah. An investigation by the Reserve Bank of India in the incident did not find any unethical or illegal acts or transactions committed by Reliance or its promoters
Ambani's control over stock exchange
Popular in media
In an unauthorized biography of Dhirubhai Ambani, published in 1998 by Hamish McDonald with the title The Polyester Prince, all his political and business conquests are outlined. HarperCollins didn't sell the book in India, because the Ambani threatened legal action.
In 2010, an updated version went on sale in India, called Ambani and Sons; there has been no legal action against the publisher so far.
A Hindi film said to be loosely inspired by the life of Dhirubhai Ambani was released on 12 January 2007. Guru, directed by film maker Mani Ratnam, cinematography by Rajiv Menon and music by A.R.Rahman shows the struggle of a man striving to make his mark in the Indian business world with a fictional Shakti Group of Industries.
Abhishek Bachchan plays Gurukant Desai, a character implicitly based on Dhirubhai Ambani. The character is popularly known as "Gurubhai", similar to the real-life "Dhirubhai".
Dhirubhai Ambani's funeral saw thousands of people attending. Mukesh Ambani and Anil Ambani can be seen carrying their father's body as per Hindu traditions
Dhirubhai Ambani was admitted to the Breach Candy Hospital in Mumbai on June 24, 2002 after he suffered a major stroke. It was his second stroke, the first one had occurred in February 1986 and had paralyzed his right hand. He was in a coma for more than a week and a number of doctors were consulted.
He died on July 6,2002.
"The country has lost iconic proof of what an ordinary Indian fired by the spirit of enterprise and driven by determination can achieve in his own lifetime". — Atal Bihari Vajpayee, Former Prime Minister of India
Following a Stroke in 1986, Ambani handed over control of Reliance to his sons Mukesh and Anil.
In November 2004, Mukesh Ambani in an interview, admitted to having differences with his brother Anil over 'ownership issues.' He also said that the differences "are in the private domain."
After the death of Dhirubhai Ambani, the group was split into Reliance Industries Limited, headed by Mukesh Ambani, and Reliance Anil Dhirubhai Ambani Group (Reliance ADA Group), headed by Anil Ambani.
Reliance after Ambani
October 2011-Awarded posthumously the ABLF Global Asian Award at the Asian Business Leadership Forum Awards.
November 2000–Conferred Man Of The Century award by Chemtech Foundation and Chemical Engineering World
2000, 1998 and 1996– Featured among Power 50-the most powerful people in Asia by Asiaweek magazine.
June 1998 - "Dean's Medal" by The Wharton School, University of Pennsylvania Dhirubhai Ambani has the rare distinction of being the first Indian to get Wharton School Dean's Medal
August 2001 – Economic Times Awards for Corporate Excellence for Lifetime Achievement.
Dhirubhai Ambani was named the "Man of 20th Century" by the Federation of Indian Chambers of Commerce and Industry (FICCI).
A poll conducted by The Times of India in 2000 voted him "Greatest Creator of Wealth In The Centuries".
Awards and recognitions
Made by Group 1: