EMERGING TRENDS IN ENTREPRENEURSHIP
TEJASHREE YEVALE - MBA TIMSR, MUMBAI
Purpose – The purpose of this paper is to examine key emerging trends in Entrepreneurs in India its reasons for growth and impact towards economy and society as a whole.
Design /approach – The paper is primarily theoretical and observational. It is based on the review of major academic and managerial publications, it also include personal interview with few entrepreneurs. Findings – Entrepreneurship activity has gone through overhaul process through last two decades. Scale and scope of sourcing of business services from across firm and national boundaries is increasing. As business services get more industrialized, activities are being split into smaller units for servicing, and a services supply chain is beginning to emerge. With sourcing becoming more strategic, risk management has become more complex and critical.
Practical implications – This paper provides business executives, Investors and government, with a framework to view emerging changes in sourcing of business services, and to better prepare for future opportunities and challenges to make necessary changes. Originality – This paper takes a concise view at sourcing of business services and identifies some key emerging trends. The review of managerial, popular press publications, case studies and insights gathered from the field have been summarized into this constructive overview.
Dare To Unleash Dreams
Eco-System for entrepreneurs (Problems confronted and facilities available for entrepreneurs in India)
Entrepreneurship not limited for big cities
New trends are making their place in world of entrepreneurs
What is Entrepreneurship?
The term “entrepreneurship” comes from the French verb “entreprendre” and the German word “unternehmen”, both means to “undertake”. According to Joseph Schumpeter modern definition of entrepreneurship is “the carrying out of new combinations we call ‘enterprise’,” and “the individuals whose function it is to carry them out we call ‘entrepreneurs’.” Schumpeter tied entrepreneurship to the creation of five basic “new combinations” namely: Introduction of a new product, Introduction of a new method of production, Opening of a new market, The conquest of a new source of supply and Carrying out of a new organization of industry. ( http://www.iimm.org/knowledge_bank/14_entrepreneurship-challenges-in-21st-centuty.htm )
Thus, the need of the hour for entrepreneur is not only to follow norms and set standard rules but to tackle the problems with high degree of intellectual and innovative ways to resolve the problem. They should be committed and passionate enough to explore every new opportunity in every facets of society. Entrepreneurship is a dynamic process of vision, change, and creation. Whereas it involves taking calculated risks - in terms of time, equity, career or any future uncertainties.
You may start up with any simple idea, but entherepreneur is to make it big in long run. Best suitable example is Mr. D.K. Jain ( Received Asia pacific entrepreneur of the year award- 2009 for “Entrepreneur of the year”) Founder of India’s best known writing instrument brands, Luxor. He started his business in 1963 a pen manufacturing unit in modest 80 sq. feet in Delhi’s sadar bazaar. Over the last 46 years, luxor has established itself with a robust business model to become a market leader. Selling his products in pan India and exporting for more than 85 countries in the world.
Why nowdays entrepreneurship has become a...
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