NAME : KRUTI SHAMBHUPRASAD PATEL
ROLL NO: AU1811012
COURSE: IDENTITY & BEHAVIOR
SUBMITTED ON : 14th November 2018 KIRAN MAZUMDAR SHAW
Founder and chairperson of Biocon Limited.
She is a member of Indian school of business and first women to head board of directors of Indian Institute of Management Bangalore (IIMB). She is also an independent director on board of Infosys.
Kiran Mazumdar Shaw is a pioneer of the biotechnology industry in India and the founder of the country’s leading biotechnology enterprise, Biocon. Named among TIME magazine’s 100 most influential people in the world, Ms. Mazumdar Shaw is recognized as a thought leader who has made her country proud by building a globally recognized biopharmaceutical enterprise that is committed to innovation and affordability in delivering best in class therapeutics to patients across the globe.
Kiran Mazumdar Shaw was always inclined towards studies and education. She pursued B.Sc in Zoology from Bangalore University. With a thirst to study further, she went to Australia for post-graduation. She studied at Ballarat University in Melbourne and got the qualification of a Master Brewer. In 1974, she got her first job and started working as a trainee brewer with Carlton and United Beverages. She worked there for four years post which her life took a new turn.
In 1978, Mazumdar Shaw joined Biocon Biochemicals Limited, Ireland as a trainee manager. Soon after joining them, she started the Indian arm of the company in the same year. She rented a garage space in Bangalore and with an initial investment of Rs. 10,000 she commenced her entrepreneurial journey. Initially, she did face issues like banks would not trust her idea and loans were a problem since biotechnology was a new field and women entrepreneurs back then were rare. Some would even ask her father to be guarantor. She also faced issues in recruiting and convincing people to join her startup. Her first employee was a retired garage mechanic. Uninterrupted power, superior quality water, sterile labs, imported research equipment, and workers with advanced scientific skills were not easily available. She still did not give up and continued to work hard.
Biocon started as an industrial enzyme manufacturer and commenced exporting to USA and Europe. Within the first year, Mazumdar Shaw’s venture started churning profits. They had enough money to buy a 20-acre property. She focused on discovery of novel enzymes and novel techniques for development of solid substrate fermentation technology through research and development and that took the company’s operations to a new dimension. Post this, there was no turning back. In 1987, Narayan Vaghul of ICICI ventures supported creation of a venture capital fund of USD 250,000. In 1989, they became the first Indian biotech company to receive US funding for proprietary technology.
In 2004, Biocon went for an IPO which was oversubscribed 33 times. This was advised to her by Infosys head honcho Narayan Murthy. It was the second Indian company to cross the 1 billion mark on the first day of listing. This raised capital helped her in creation of affordable innovation. They focused on cost-effective techniques and low-cost alternatives for drugs too. Quite a journey for an entrepreneur who began her journey as a trainee and is now the 92nd Most Powerful Woman in the World.
Kiran Mazumdar Shaw follows various types of leadership styles like situational leadership style, transformational leadership style and charismatic leadership style.
She is also a great motivational leader for oneself and for the employees.
She encourages her employees to focus on innovations and ideas.
During interactions with her team, she gives equal weightage to team member’s opinion as well.
One of her advice for young people is that “my ability to face and learn from failure and move on has helped me a great deal in being successful.”
Fight gender bias in an organization.
According to Kiran,
“Failure is temporary. Giving up is permanent.”
Management lessons to learn from kiran mazumdar Shaw are:-
Risk taking ability.
Overcoming barriers to achieve success.
Learn from failures
Set high performance expectations.