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Introduction:
Abhishek Foods Ltd., Hyderabad, a medium scale company, was engaged in the manufacture of biscuits. It was promoted by a group of first generation entrepreneurs who had little or no experience in this line of activity.
Ratan aged 25 years, Usha (24), Ramakrishna (24), and Rakesh (25) had graduated from one of the top B schools in the country in 2007 and their zeal for entrepreneurial activity had brought them together. They did not want to join an organization and take up a job as they had always been dreaming of promoting their own venture. They chose Hyderabad in South India to start their venture.
All the four of them hailed from well to do families and finance was not a problem. Ratan's father was the Vice president, marketing, of an MNC manufacturing chocolates and he promised that he would help, support, and guide the budding entrepreneurs. The four friends visited the District Industries Center (DIC) to do an in-depth survey of various products and their potential. The Industrial Promotion officer was keen to guide the four young business graduates to start their own venture.
They were provided project reports on the manufacture of various consumer products like soaps, chocolates, shampoos, and biscuits. After a lot of discussion, they zeroed in on biscuits, an FMCG (Fast Moving Consumer Goods) product with a high growth potential.
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