CARE UNLIMITED: AN ENTREPRENEURIAL GROWTH DILEMMA

PROJECT SUBMITTED TO: -

DR.MANOJ MISHRA
FACULTY OF
STRATEGIC MANAGEMENT

PROJECT SUBMITTED BY:-

SATYAM
SIXTH SEMESTER
ROLL NUMBER – 2040
B.B.A. LL.B. (HONS.)

PROJECT SUBMITTED IN THE FULFILMENT OF THE COURSE STRATEGIC

MANAGEMENT FOR ATTAINING THE DEGREE OF B.B.A.LL.B (HONS.)

CHANAKYA NATIONAL LAW UNIVERSITY NYAYA NAGAR,

MITHAPUR, PATNA - 800001

1
 DECLARATION BY THE CANDIDATE

I hereby declare that the work report in that B.B.A. LL.B. (Hons.) Project report entitled
―Care Unlimited: An Entrepreneurial Growth Dilemma‖ submitted at CHANAKYA
NATIONAL LAW UNIVERSITY is an authentic record of my work carried out under
supervision of Dr. Manoj Mishra. I have not submitted this work elsewhere for any other
degree or diploma. I am fully responsible for my project report.

SIGNATURE OF THE CANDIDATE

NAME OF THE CANDIDATE: SATYAM

2
 ACKNOWLEDGEMENT

The present project on ―Care Unlimited: An Entrepreneurial Growth Dilemma‖ has been able to
get its final shape with the support and help of people from various quarters. My sincere thanks go
to all the memberswithout whom the study could not have come to its present state. I am proud to
acknowledge gratitude to the individuals during my study and without whom the study may not
be completed. Ihave taken this opportunity to thank those who genuinely helped me.

With immense pleasure, I express my deepest sense of gratitude to Dr. Manoj Mishra, Assistant
Professor of Management, of Chanakya National Law University for helping me in my project. I
am also thankful to the whole Chanakya National Law University family that provided me all the
material I required for the project. Not to forget thanking to my parents without the co- operation
of which completion of this project would not had been possible.

I have made every effort to acknowledge credits, but I apologies in advance for any omission that
may have inadvertently taken place.

Last but not least I would like to thank Almighty whose blessing helped me to complete the project.

Satyam

Roll No.: 2040,

6th Semester

Course: B.B.A. LL.B. (Hons.)

3
 CONTENTS

1.INTRODUCTION ................................................................................................................................................. 5
AIMS AND OBJECTIVES ...................................................................................................................................... 6
HYPOTHESIS ......................................................................................................................................................... 6
RESEARCH METHODOLOGY ............................................................................................................................. 6
SOURCES OF DATA .............................................................................................................................................. 6
RESEARCH QUESTIONS ...................................................................................................................................... 6
METHOD OF WRITING ........................................................................................................................................ 6
LIMITATION OF THE STUDY ............................................................................................................................. 6
SCOPE OF THE STUDY ........................................................................................................................................ 6

2. Care Unlimited: A brief story.............................................................................................................................. 7

3.Service model of care unlimited ............................................................................................................................ 9

4.Care Unlimited During Covid ............................................................................................................................. 11

5.Entrepreneurial Growth Dilemma ....................................................................................................................... 13

6.Conclusion........................................................................................................................................................... 15
Bibliography: .......................................................................................................................................................... 16

4
 1.INTRODUCTION

Care Unlimited is a start-up in Kolkata, India, engaged in providing support and services to elderly
customers whose children lived far away. The venture, four years old, had garnered a clientele who
strongly believed in supporting the well-being of their elderly parents. The start-up endeavoured to
change the experience of old age by supporting its customers in various chores, and by meaningfully
engaging them in the various activities they enjoyed. The compassionate and dedicated staffs strive to
achieve a successful outcome for all our members. They aim to provide a professional, consistent and
reliable service including competent crisis management. They become a part of the family and endeavor
to provide personalised care at all times.1
Care Unlimited commenced in 2015. It saw the need for support for our older citizens. A demographic
that is often lonely as family and friends become fewer and distanced. Natural degeneration, less social
interaction due to mobility issues, loss of confidence and social neglect prevents them from pursuing an
active and fulfilling life. It is accepted in society that old age results in these problems and so the general
population ignores the pain and isolation of senior citizens, leaving them even more alone. This is the
time when they benefit from a strong support system, to help them overcome their disability and renew
their passions and interests and feel confident.
By April 2018, the set-up had captured a share of the early market in Kolkata; however, the concept that
the needs of elderly people extended beyond a need for emergency services had yet to gain wide-scale
acceptance. While starting their own business, entrepreneurs are supposed to portray their
multidisciplinary roles. A single person may have to realize roles of a salesman, book keeper, operator,
hiring officer, marketing executive, manager, etc. By involving themselves in such various functional
shoes, entrepreneurs can be deviated from the company‘s main goals and objectives, which can adversely
affect the company‘s growth. The article, ―The Many Hats of an Entrepreneur‖ (Inc‘s September 6,
2012) says, ―Growing and new business should always be the focus of the entrepreneur because if the
business is not growing, it is slowly dying.‖2
Should the founder consider adding emergency services? Or should he continue to focus on driving home
the point that elderly people needed far more than emergency services? Was there a need to explore
alternative ways of earning revenue and diversifying his business?

1
https://careunlimited.in/
2
https://store.hbr.org/product/care-unlimited-an-entrepreneurial-growth-dilemma/W18497
5
 AIMS AND OBJECTIVES
1) The researcher tends to extensively study about Care Unlimited.

2) The researcher tends to extensively study the Enterpreneur‘s dilemma.

HYPOTHESIS
The researcher hypothesizes to presume that Care Unlimited is a social startup started for a noble
cause and have created a market for themselves?

RESEARCH METHODOLOGY
The researcher relied on the doctrinal method of research to complete this project.

SOURCES OF DATA
The researcher will be relying on secondary sources of data to complete the project:
Case studies, Websites, Magazines, Journals, Newspapers.

RESEARCH QUESTIONS
1. What is Care Unlimited?
2. How Care Unlimited represents entrepreneur‘s dilemma?

METHOD OF WRITING
The method of writing followed in the course of this research paper is primarily analytical.

LIMITATION OF THE STUDY

The Researcher as a student has completed the project having access to limited area and having
limited time.

SCOPE OF THE STUDY

The project primarily focuses to analyze the way in which Care Unlimited was created and
functions.

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 2. CARE UNLIMITED: A BRIEF STORY

Aging stereotypes exist and they wanted to change that. Care Unlimited is emphatic in its vision to
‗change the experience of old age through active aging and meaningful engagement‘. It has been clear
right from the start that its services are for creating a difference in the lives of the elderly. It is not to
provide emergency services but to make meaningful relationships with their clients, providing them with
a reliable support system, become a surrogate family member who will listen to them, help them with
their chores, engage with them and reduce their loneliness.

Suryasish Gupta was a software engineer by profession. At the peak of his long and illustrious career as
the practice head in an MNC, he decided to give a shot to follow his heart‘s calling — helping others.
Devoting all his energy and resources to form a team to service this group, Suryasish set up his dream
project in October 2014. Says Surya, ―I have felt the urge to help others from my childhood. I started
exploring the meaning of service almost 15 years back, and have been involved with several voluntary
organizations – Rotary Club, Funding organization – ASHA for Education, NGO in Sundarban. Now I
feel I have got my unique way of showing respect to the earlier generation. We have formed a happy
extended family. We are beside each other during the times of joy as well as in difficult times. ‖ 3

Today after 5 years, Care Unlimited has been successful in journeying to their vision to be able to make a
difference to the senior citizens of Kolkata. However, the road is long and wide and there is much more
to be achieved. The message is loud and clear that positive mental state that includes a zest for life,
ability to laugh and have fun, optimism, self-esteem is not just for the young but for all ages, especially
our elderly citizens. And Care Unlimited is committed in being a vehicle for change to be able to
improve the physical and mental wellbeing as well as the quality of life for the elder community. It is
gratifying to watch the progress of our elderly extended family who has gained immense confidence,
even participating in cultural programs, socialising, actively pursuing their talents and looking forward to
another day with positivity. Besides support, creative and active projects are crucial to aging well. 4

Care Unlimited commenced in 2015. It saw the need for support for our older citizens. A demographic

3
https://www.thehindu.com/news/national/other-states/hand-holding-kolkatas-elderly-through-the-
lockdown/article31799942.ece
4
https://careunlimited.in/about/
7
that is often lonely as family and friends become fewer and distanced. Natural degeneration, less social
interaction due to mobility issues, loss of confidence and social neglect prevents them from pursuing an
active and fulfilling life. It is accepted in society that old age results in these problems and so the general
population ignores the pain and isolation of senior citizens, leaving them even more alone. This is the
time when they benefit from a strong support system, to help them overcome their disability and renew
their passions and interests and feel confident.

Care Unlimited is an organization that provides non-critical care at home service for the elderly with
minimum commercial fine prints. They believe elderly home care is a relationship based service and
should not be bounded by scope of services. Thus their Care Advisers assist in almost all areas where the
elderly may need support. They also often extend beyond the framework of duration or visits, if needed.

8
 3.SERVICE MODEL OF CARE UNLIMITED

They have three models - Standard (two visits a week); Regular (two visits a fortnight), Intermittent (two
visits a month). Each visits will be of one and half hour on an average. A visit may be at home or
accompanying them for some outside work. In case a single visit consume more than three hours, it will
be adjusted by dropping a visit later. We will assign a primary care adviser and a secondary care adviser.
Two of them together will cover all the activities for the elderly.

The service offering covers financial operations, health management, engagement in life, support service
facilitation. Specific details of all these areas can be found in our brochure or web-site. Be it banking, be
it going to the doctor, be it getting hold of a repair person, be it going out to a relative's place - you will
find us beside you. You need to tell them what regular activities is a botheration to you, they will find a
solution for it. However, if you enjoy doing it - they will not take it away. Most importantly they will be
spending quality time with you and always be just a phone call away.5

They offer personalized service - we customize the support as per the needs of the elderly. The Director
makes a personal home visit on a regular basis. Thus all elderly will be direct access to him. They
support through matured Care Advisers. All care advisers are middle aged, and have experience in
handling elderly. The elderly loves having a matured person for listening to their challenges and who can
easily relate to their stories. Once a service model is fixed, there are rarely any additional charges. The
service charges cover the time spent by Care Unlimited team. Any third party charges need to be paid
directly to the third party or paid in advance to care adviser. In case the care adviser is accompanying the
elderly, all expenses of the care adviser need to be reimbursed.

They understand the type of support as well as the number of visits needed may vary from time to time.
They provide additional coverage if required, and will typically try to waive additional charges. This
gives the elderly comfort to call them for any need, without having to worry about charges. The
profession structure of their service provides regular updates, as well as summary of the visits on a
monthly basis. Details of all the Care Adviser is kept in their organization database, before engaging
them with any client. They can share the same with you if you desire so.

5
https://careunlimited.in/care-faqs/
9
It is not mandatory to provide copy of any documentation to Care Unlimited, and they will definitely not
take the originals. Relevant information can always be shared on as needed basis. However, sharing PAN
card and address proof helps them in quickly close activities with other providers.

They try to accommodate additional visits as long as it is not too high (less than 50% of the planned
visits). If the additional visits becomes a regular need, then we will get into a discussion on how to
reduce them or change to a model with higher visits. Any extra charges, if any, will be mutually agreed
upon. If a significant high number of visits are required, may be because of some medical situation, they
will try to support our best. Commercial implication of the extra time involved will be prorated based
rate of the subscribed model - and will be billed only after discussion and mutual agreement after the
situation is over.

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 4.CARE UNLIMITED DURING COVID

Care Unlimited, hand-held more than 25 people above the age of 80 throughout the lockdown and the
distress caused by cyclone Amphan, meeting their needs and making sure they didn‘t feel lonely.

Most of these senior citizens — living alone in their homes in Kolkata — were already being assisted by
the organisation when the lockdown was implemented, but it also reached out to many others who were
in need.

―Since we could reach out to them only over the phone, we had to keep devising new ways to keep them
engaged,‖ Surya Gupta, an electrical engineer who set up Care Unlimited five years ago after long stints
at ABB and IBM, told The Hindu. ―We had to make sure they didn‘t feel lonely and had something to
look forward to,‖ Mr. Gupta added.

―We increased the frequency of calls to enquire about their daily status. We also increased the duration
of the calls, so that they could first vent out their worries before we could steer the conversation away
from COVID-19 to help them see the brighter side of life. The idea was to hand-hold them out of the
negativity around,‖ Mr. Gupta said.

Of the people the organisation attended to, about 50% were elderly couples and the remaining single,
mostly widows. In almost all cases, the children live abroad or in other cities of India.

―For those who are tech-savvy, we made video calls at least once a week. In some cases where phone
calls could not get them engaged effectively, video calls did the trick. We also introduced joint calls: two
care advisors calling the senior citizen simultaneously to lighten the atmosphere and make some adda
over phone,‖ Mr. Gupta said.

―One elderly gentleman living all by himself felt he was showing symptoms of a cardiac problem. We
organised a video-conference with a doctor, who arrived at the conclusion that his heart was fine but he
was under stress and should not live alone. We organised for a nurse to stay with him — we had to use
an ambulance to reach the nurse there,‖ he explained.

11
―Once they were comfortable with video conferencing, we introduced virtual cultural events for them.
But since most of them do not know how to download or use apps like Zoom or Webex, and since some
of them do not even have a smartphone, we had to leverage on audio conferencing. We first conducted a
programme on the Bengali New Year, in which we made them participate, and then we had another
programme on Rabindra Jayanti, when we invited a guest artiste to perform,‖ he said.

―Back in March, when the lockdown had looked imminent, we had prepared them mentally for it. But the
loneliness and the sense of confinement sunk in much later, and we had to keep inventing ways to
introduce variety in their lives,‖ Mr. Gupta added.

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 5.ENTREPRENEURIAL GROWTH DILEMMA

Most business owners want to grow. They intuitively know that growth yields significant benefits
ranging from lower costs to higher enterprise values. The question becomes where and how to grow.

Most entrepreneurs are looking for ways to push their companies to grow and get bigger. But they
struggle with decisions about how big they want to become, how much money to keep investing in their
company, and how to even go about it. They want more, but they‘re not sure how to think about the
problems, obligations, and risk that come with growth. This is the growth dilemma. Knowing these parts
of puzzle will not only influence how you think about your growth dilemma but also allow you to
discover your financing comfort zone.6

Starting your own entrepreneurial venture can lead to unlimited successes followed by freedom and
flexibility. The journey can be extremely exciting and adoring. You can be the boss of your own rules
and regulations without any supervisory approval. However, becoming an entrepreneur can be prone to
several difficulties and dilemmas to deal with, which may lead you to wonder if the decision to start our
own business was indeed a right one.

While starting their own business, entrepreneurs are supposed to portray their multidisciplinary roles. A
single person may have to realize roles of a salesman, book keeper, operator, hiring officer, marketing
executive, manager, etc. By involving themselves in such various functional shoes, entrepreneurs can be
deviated from the company‘s main goals and objectives, which can adversely affect the company‘s
growth. The article, ―The Many Hats of an Entrepreneur‖ (Inc‘s September 6, 2012) says, ―Growing and
new business should always be the focus of the entrepreneur because if the business is not growing, it is
slowly dying.‖

This transition is easier said than done. Unfamiliar markets are ripe with risk. Growth into a new sector
can require additional talent, processes, and technologies and create a significant strain on a company‘s
infrastructure. It is almost always more expensive and time consuming to grow from 0 to 5% share in a
6
https://whittakerassociates.com/the-entrepreneurs-
dilemma/#:~:text=By%20involving%20themselves%20in%20such,adversely%20affect%20the%20company's%20growth.
13
new market than to grow from 20 to 25% share in a market you already know.
Yet many entrepreneurs stay awake at night, afraid that they have all of their eggs in one basket. Thus the
entrepreneur‘s dilemma; diversification can become a strategic imperative, but is inherently risky. The
more a company grows in its core business, the bigger their concentration risk becomes.7

The larger the core business the harder it is to diversify, because a new business must grow at many
multiples of the existing business to contribute enough margin to reduce risk. For example, if you had a
$25 million business growing at 10%, and add an adjacent market channel that was worth $1 million, that
business would need to grow 250% ($2.5 million) a year to match growth in the core (and reduce
concentration risk).

Like any other important decision, the entrepreneur needs to take a strategic viewpoint and consider their
desired endgame. If the objective is a liquidity event (sale), some buyers would place a higher value on a
diversified business. Others could see non-core businesses as non-essential.8

Financial issues are another persistent constraint of any entrepreneur, and it is more of an issue in the
developing countries. Though the trend of micro-financing and venture capital are becoming popular,
entrepreneurs express doubts in their desirability. They find it difficult to maintain the cash flow to cover
their start-up expenses and daily costs. Entrepreneurs should always find ways to manage their cash flow
cycles to prevent the declines in sales and profit.

Since entrepreneurs are self-motivated and passionate towards achieving growth and success and
meeting all the business demands, they tend to work overtime which can result into mental and physical
stress. They might lose their work-life balance and become prone to health-related risks. They might feel
that taking some time off from their work might cost them money.

Another issue in the entrepreneurial business is the issue of succession planning. Entrepreneurs control
the companies for many years and they might avoid hiring someone as their replacement.

7
https://www.vistage.com/research-center/business-growth-strategy/growth-strategy-entrepreneurs-dilemma/
8

https://www.researchgate.net/publication/339325927_The_Dilemma_Between_Entrepreneurship_and_Economic_Growth_A_
Different_View_of_Turkey's_Recent_Economic_Growth_in_10_year
14
 6.CONCLUSION

Care Unlimited engaged in providing support and services to elderly customers whose children lived far
away. The venture had garnered a clientele who strongly believed in supporting the well-being of their
elderly parents. The start-up endeavoured to change the experience of old age by supporting its
customers in various chores, and by meaningfully engaging them in the various activities they enjoyed.

The service offering covers financial operations, health management, engagement in life, support service
facilitation. Specific details of all these areas can be found in our brochure or web-site. Be it banking, be
it going to the doctor, be it getting hold of a repair person, be it going out to a relative's place - you will
find us beside you. You need to tell them what regular activities is a botheration to you, they will find a
solution for it.

However, the concept that the needs of elderly people extended beyond a need for emergency services
had yet to gain wide-scale acceptance. While starting their own business, entrepreneurs are supposed to
portray their multidisciplinary roles. A single person may have to realize roles of a salesman, book
keeper, operator, hiring officer, marketing executive, manager, etc. By involving themselves in such
various functional shoes, entrepreneurs can be deviated from the company‘s main goals and objectives,
which can adversely affect the company‘s growth.

The transition is easier said than done. Unfamiliar markets are ripe with risk. Growth into a new sector
can require additional talent, processes, and technologies and create a significant strain on a company‘s
infrastructure. It is almost always more expensive and time consuming to grow from 0 to 5% share in a
new market than to grow from 20 to 25% share in a market you already know.

The article, ―The Many Hats of an Entrepreneur‖ (Inc‘s September 6, 2012) says, ―Growing and new
business should always be the focus of the entrepreneur because if the business is not growing, it is
slowly dying.

15
 Bibliography:

BOOKS

1. Business Strategy: Managing Uncertainty, Opportunity, and Enterprise by J.C. Spender

2. 2. Return On Influence: The Revolutionary Power of Klout, Social Scoring, and Influence
Marketing by Mark Schaefer
3. Tilt: Shifting Your Strategy from Products to Customers by Niraj Dawar
4. Blue Ocean Strategy, Expanded Edition: How to Create Uncontested Market Space and Make the
Competition Irrelevant by W. Chan Kim

WEBSITES

 https://whittakerassociates.com/the-entrepreneurs-
dilemma/#:~:text=By%20involving%20themselves%20in%20such,adversely%20affect%20the%
20company's%20growth.
 https://www.vistage.com/research-center/business-growth-strategy/growth-strategy-
entrepreneurs-dilemma/
 https://careunlimited.in/
 https://store.hbr.org/product/care-unlimited-an-entrepreneurial-growth-dilemma/W18497
 https://careunlimited.in/about/
 https://careunlimited.in/care-faqs/

16