Red Ocean, Efficacy and Entrepreneurial Spirit: Case-Study of Astang Ayurved Chyavanpras, Bhubaneswar
Amity Journal of Entrepreneurship Vol. 2, Issue. 2, 2018
Posted: 28 Feb 2019
Date Written: December 11, 2017
The article presents a case study within the broad theme of Ecological entrepreneurship, and specific to the making of herbal anti-ageing product, Chyavanpras, by a Bhubaneswar based Ayurveda professional and an entrepreneur. India has age old medical practice of Ayurveda, in which the doctors (vaidyas) prepare their own medicines, using all indigenous eco-friendly ingredients, to treat the patients. The medicines are prepared from natural herbs. The treatment is a combination of different practices, but all of them pertaining to ecological harmony of living beings with nature. Chyavanpras-making has come up both as a large scale industry, as well as MSM-Entrepreneurship. The present paper has two parts wherein the existing Indian market for Chyavanpras is discussed and in the second part a case of a local brand of Chyavanpras, made by a micro-enterprise, Astanga Ayurveda in Bhubaneswar (Odisha, India) is discussed. The case highlights entrepreneurial self-efficacy, differentiation in service and product to be a sustainable model for micro-entrepreneurship. It presents an exhaustive list of essential ingredients and also the market competition, prevailing in India, with leading brands in this category.
Keywords: Chyavanprash, Micro Entrepreneur, AYUSH, Ayurveda
JEL Classification: M13, I11, Q12
Suggested Citation: Suggested Citation