Case study 1Entrepreneurshipand business startupsIntroductionFlipkartwas launchedin 2oo7, in India. It is an e-commerce industry.
Its founders are Sachin Bansal and BinnyBansal. Both of them are alumni of IIT, Delhi and are native of Chandigarh,India. They left their jobs in Amazon to start their own business. In India, people often prefer to shop in person and buygoods they see and like.
So coming up with an ecommerce start-up was full ofchallenges Today, thanks to Flipkart, e-commerce has become one of the fastestgrowing sectors in India.Process of startupFlipkart began sellingbooks to begin with. It soon expanded and began offering a wide variety ofgoods. Seven years ago when Flipkart wasstarted as an online platform for selling books, the founder himself wentacross the roads of Bangalore to procure the orders from small distributors.Major challenges they faced was to get tie-ups with the major book vendors asthey didn’t have an offline book store. The second major challenge was the problem of online payment gateways.Not many people preferred online payment and the gateways were not easy to setup.
Flipkart tackled this problem by introducing cash on delivery and paymentby card on delivery in addition to others. Another problem was the entiresupply chain system. Flipkart addressed this issue by launching their ownsupply chain management system to deliver orders in a timely fashion.
Internal success factors Flipkart has adoptedthe strategy to invest a significant portion of its raised fund into supplychain efficiency, building a better talent pool and technology innovation.Moreover, taking logistics to all terrains within country including towns andvillages, making payment gateway options secure and easy for the consumers areother major challenges.External factors In this fast pacingworld, shortage of time is big crisis and acts as a big push for consumers toshop online.
What have we learnt from flipkart successstory· Think Big but Start Small and havepersistence. Keep risks involved in mind.· Flipkart has always been great atexperimenting things.
· learn from failures and continueworking towards your end goal, your vision.· Deliveringgoods on time is one of the most important factor that determines the successof an ecommerce company.· In a countrywhere stereotypes are common, Flipkart managed to break the norm and change theecommerce industry in India for ever. Flipkart’s story proves that if you havea great idea, and you are a doer and not a thinker, success is not far off.