Entrepreneurial Success in MSMEs: A Case Study of Bikalananda Kar Sweets, Salipur, Odisha

Abstract

The success of the micro, small and medium-sized companies (MSMEs) units depends on various dynamics and statuses; starting from the conception of a business idea, the business acumen of the entrepreneurs, accumulation of factors of a business, a perfect mix of these factors, an efficacious Human Resource policy, an appropriate production process, proficient and competent financial management and above all an effective marketing programme to satisfy and cater the needs of the customers. In India and in some foreign countries, Bikalananda Kar Sweets is a known brand name in sweet and cheese products. Bikalananda Kar of Salipur, widely known as ‘Bikala Kar’, founded the unit in 1954 in Salipur, Cuttack district of Odisha, which expanded into a giant store during his lifetime and, after his death, evolved into a mega project due to the hard work and commitment of his youngest son Mr Prasant Kar. Now it has become popular all over India with a promising future. The present research paper had made a humble effort to study the dynamics of the organisation and its development and growth through the years. Some suggestions have also been outlined for the sustainability of the organisation in the long run.