Entrepreneurial Managers - The Need of the Hour in a Competitive Environment - A SWOT Analysis
V. Balakumar, B.E, M.B.A JTO (Enterprise Business),BSNL, Madurai, Tamilnadu Email : vinbalakumar@gmail.com Abstract In today’s competitive environment, Managers are constantly asked to behave like entrepreneurs and vice versa. The manager is supposed to develop the drive and opportunism of the entrepreneur, and the entrepreneur is expected to learn the methodical disciplines of the manager. The pressures on both have become more intense as the economy has become more competitive, more entrepreneurial, more demanding. But understanding the integrity of both the roles is the need of the hour. According to the best study of Innovation and Entrepreneurship by Peter Drucker, “Entrepreneurs are not capitalists, or investors, or employers, although this is highly arguable especially the last. Also, part of entrepreneurship is knowing how to raise, deploy and invest capital.” The general explanation is that entrepreneurship involves taking risks. While that is true, so does all human activity. The risk run in taking an entrepreneurial decision is no different from the non-entrepreneurial risk of, say, offering somebody a job. As per the definition of Drucker, “The entrepreneur always searches for change, responds to it, and exploits it as an opportunity”. In this paper the Role of a modern day entrepreneur and the need for the innovative approach in the managerial behaviour is discussed. SWOT Analysis is proposed for the near future Entrepreneurial Managers. The Proposal of the “Integration of Change Management which is adopted by Entrepreneurs and the Time Management which is followed by Managers” is discussed. Index Terms : Entrepreneurial Managers, SWOT, Change Management, Time Management Review of Literature Entrepreneurship: Entrepreneurship as defined “is a process through which individuals identify opportunities, allocate resources, and create value. This creation of... [continues]
V. Balakumar, B.E, M.B.A JTO (Enterprise Business),BSNL, Madurai, Tamilnadu Email : vinbalakumar@gmail.com Abstract In today’s competitive environment, Managers are constantly asked to behave like entrepreneurs and vice versa. The manager is supposed to develop the drive and opportunism of the entrepreneur, and the entrepreneur is expected to learn the methodical disciplines of the manager. The pressures on both have become more intense as the economy has become more competitive, more entrepreneurial, more demanding. But understanding the integrity of both the roles is the need of the hour. According to the best study of Innovation and Entrepreneurship by Peter Drucker, “Entrepreneurs are not capitalists, or investors, or employers, although this is highly arguable especially the last. Also, part of entrepreneurship is knowing how to raise, deploy and invest capital.” The general explanation is that entrepreneurship involves taking risks. While that is true, so does all human activity. The risk run in taking an entrepreneurial decision is no different from the non-entrepreneurial risk of, say, offering somebody a job. As per the definition of Drucker, “The entrepreneur always searches for change, responds to it, and exploits it as an opportunity”. In this paper the Role of a modern day entrepreneur and the need for the innovative approach in the managerial behaviour is discussed. SWOT Analysis is proposed for the near future Entrepreneurial Managers. The Proposal of the “Integration of Change Management which is adopted by Entrepreneurs and the Time Management which is followed by Managers” is discussed. Index Terms : Entrepreneurial Managers, SWOT, Change Management, Time Management Review of Literature Entrepreneurship: Entrepreneurship as defined “is a process through which individuals identify opportunities, allocate resources, and create value. This creation of... [continues]
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