what entrepreneurial habits did harish hande exhibit in hadling SELCO? If you're hande's position, would you do
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what entrepreneurial habits did harish hande exhibit in hadling SELCO? If you're hande's position, would you do the same? Why or why not? See attached picture for reference.
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ELMS REVIEW Harish Hande and the company he founded, SELCO, provide solar electric lighting and power to India's poor. For his company's work, Hande has received numerous recognitions; he is frequently cited as one of the top social entrepreneurs in India and an example for the entire developing world. However, the road to SELCO's success has not always been smooth. Hande co-founded SELCO (with Neville Williams) in 1995 to sell and service photovoltaic (PV) systems in his home state of Karnataka, India. During its initial years of operation, the company expanded deliberately as it gained capital and experience. Then in an ill-fated attempt to scale up during the early 2000s, SELCO created a franchised dealer network, seriously hurting the company financially and deviating from its mission to help the poor. As the company recovered from this move, the price of solar panels spiked, and sales declined. Investors put pressure on Hande to lay off employees and contract the organization. With the help of the World Bank's commercial finance arm, the International Finance Corporation (IFC), Hande was able to restructure the company in 2008. SELCO remained a for-profit business, but Hande was able to seek new investors more aligned with its mission. In addition, Hande could keep his sales and service organization intact, complete with its core of highly motivated employees. Most importantly, SELCO was able to continue devising innovative solar solutions. The company had become known for redesigning off-the-shelf solar electric components to suit the particular needs of the urban and rural poor. The SELCO design process began with an extensive needs assessment of a specific segment or activity. Whether designing for street vendors, midwives, or rural farmers, SELCO created solutions for the particular needs of its target market. Sometimes this meant redesigning the solar equipment and restructuring activities so that solar energy could power a client's needs. From his field research, Hande realized early in SELCO's history that the success of solar installations for the poor would depend on designing creative financing solutions for its customers. Many thought the capital expense of purchasing solar panels and batteries put this technology out of the reach of those at the bottom of the income-generating pyramid. But, SELCO spent time cultivating India's banks and microfinance organizations to convince them of the efficacy of solar power. Over time, the company formed partnerships with these institutions to craft financial instruments that allowed entrepreneurs and families to repay the capital expenses associated with installing solar equipment. However, SELCO's careful needs assessment, design, financing, and service process was time-consuming and costly. The company has provided energy solutions for over 100,000 households in its 15 years, allowing customers to increase their income and quality of life. However, India's developmental problems were daunting; over 400 million individuals were in poverty. Observers frequently wondered if SELCO's activities could be scaled up to extend solar energy's benefits to more people. In 2009, SELCO was considering its plans for how the company might expand. The company decided to institutionalize its design process by building an innovation center. SELCO also added products that provided energy solutions beyond solar. Some within the company hoped the company would go "deeper" and look at designing solutions for even poorer members of the Indian population. Others hoped the company would go "wider" and expand beyond its current geographical areas in Karnataka and Gujarat. Whatever its direction, the company's strategic choices at this point in its evolution would be crucial to determining its continued success. Question: In no more than 500 words, what entrepreneurial habits did Harish Hande exhibit in handling SELCO? If you were in Hande's position, would you do the same? Why or why not ELMS REVIEW Harish Hande and the company he founded, SELCO, provide solar electric lighting and power to India's poor. For his company's work, Hande has received numerous recognitions; he is frequently cited as one of the top social entrepreneurs in India and an example for the entire developing world. However, the road to SELCO's success has not always been smooth. Hande co-founded SELCO (with Neville Williams) in 1995 to sell and service photovoltaic (PV) systems in his home state of Karnataka, India. During its initial years of operation, the company expanded deliberately as it gained capital and experience. Then in an ill-fated attempt to scale up during the early 2000s, SELCO created a franchised dealer network, seriously hurting the company financially and deviating from its mission to help the poor. As the company recovered from this move, the price of solar panels spiked, and sales declined. Investors put pressure on Hande to lay off employees and contract the organization. With the help of the World Bank's commercial finance arm, the International Finance Corporation (IFC), Hande was able to restructure the company in 2008. SELCO remained a for-profit business, but Hande was able to seek new investors more aligned with its mission. In addition, Hande could keep his sales and service organization intact, complete with its core of highly motivated employees. Most importantly, SELCO was able to continue devising innovative solar solutions. The company had become known for redesigning off-the-shelf solar electric components to suit the particular needs of the urban and rural poor. The SELCO design process began with an extensive needs assessment of a specific segment or activity. Whether designing for street vendors, midwives, or rural farmers, SELCO created solutions for the particular needs of its target market. Sometimes this meant redesigning the solar equipment and restructuring activities so that solar energy could power a client's needs. From his field research, Hande realized early in SELCO's history that the success of solar installations for the poor would depend on designing creative financing solutions for its customers. Many thought the capital expense of purchasing solar panels and batteries put this technology out of the reach of those at the bottom of the income-generating pyramid. But, SELCO spent time cultivating India's banks and microfinance organizations to convince them of the efficacy of solar power. Over time, the company formed partnerships with these institutions to craft financial instruments that allowed entrepreneurs and families to repay the capital expenses associated with installing solar equipment. However, SELCO's careful needs assessment, design, financing, and service process was time-consuming and costly. The company has provided energy solutions for over 100,000 households in its 15 years, allowing customers to increase their income and quality of life. However, India's developmental problems were daunting; over 400 million individuals were in poverty. Observers frequently wondered if SELCO's activities could be scaled up to extend solar energy's benefits to more people. In 2009, SELCO was considering its plans for how the company might expand. The company decided to institutionalize its design process by building an innovation center. SELCO also added products that provided energy solutions beyond solar. Some within the company hoped the company would go "deeper" and look at designing solutions for even poorer members of the Indian population. Others hoped the company would go "wider" and expand beyond its current geographical areas in Karnataka and Gujarat. Whatever its direction, the company's strategic choices at this point in its evolution would be crucial to determining its continued success. Question: In no more than 500 words, what entrepreneurial habits did Harish Hande exhibit in handling SELCO? If you were in Hande's position, would you do the same? Why or why not
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Harish Hande exhibited several entrepreneurial habits in handling SELCO 1 Adaptability and Resilience Hande showed resilience by navigating through challenges such as the illfated attempt to scale up ... View the full answer
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Financial and Managerial Accounting
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3rd Edition
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