Biocon - Kiran Mazumdar Shaw's Entrepreneurial Dream
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ICMR HOME | Case Studies Collection
Case Details:
Case Code : LDEN032
Case Length : 11 Pages
Period : 1992-2005
Pub Date : 2007
Teaching Note :Not Available
Organization : Biocon
Industry : Biotech
Countries : India
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"If I can build a company like Biocon, anyone can… The
first step was to dream however big or small…. If you have a vision, no matter
how big or small, a plan, no matter if it is imperfect, but if there is passion
and conviction for it, success is inevitable."1
- Kiran Mazumdar Shaw, Managing Director,
Biocon India Limited.
Businesswoman of the Year 2004
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In November 2004, Kiran Mazumdar-Shaw (Kiran), the Chairperson and Managing
Director of Biocon India Limited (Biocon) received the 'Businesswoman of the
Year Award,' from 'The Economic Times of India,2'
a leading Indian business daily. This award was to be given to a person who "was
global in nature and would have shareholders' good uppermost in mind. The person
should have followed her heart and vision relentlessly, broken all glass
ceilings3 and pioneered the cause of women
in business."4 It symbolized the
increasing importance of the role of women in the Indian business arena. One of
the most successful businesswomen in India, Kiran had received several awards
during her career of over 25 years (Refer Exhibit I for the list of awards
received by Kiran).
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She founded Biocon as an enzyme extraction company in a rented garage in 1978.
By 2004, Biocon had emerged as the #1 biotech company in Asia, and #16 in
the world in terms of revenues and market capitalization. The company made
its initial offer of shares to the public in March 2004. The shareholders
earned handsome returns on their investments as the stock, which was offered
at Rs 315, touched a high of Rs 780 in early November 2004 (Refer Exhibit II
for the stock price chart of the company). Reportedly, Kiran had to break
through the 'glass ceiling' effect on several occasions being a woman
entrepreneur in the traditional Indian society.
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She believed that Indian women can do well in business even if they don't
belong to a business family or have political influence or immense wealth.
Kiran believed that women in India were not meant for only certain kind of
jobs like teacher, nurse or personal secretary, or for running a small or
cottage industry at the most. She considered herself a representative of the
modern women who could work shoulder-to-shoulder alongside men and build
mega businesses. Expressing a deep desire for equality, she said in her
award acceptance speech, "I do hope that in the not-too-distant future,
there will be one award for men and women alike - the Businessperson of the
Year Award."5 |
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