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Growth of any economy can be accelerated
with a greater momentum only when there
is a growth in business and industries
of different kinds. When we talk of business or running an enterprise irrespective of its size,
there exist greater risks. At the same time,
stakeholders of such business should anticipate huge returns
to the extent of the risk taken by them. Every now and then new businesses are emerging across
the globe with plenty of products and services, fetching more value to the end users. Society,
in turn, is able to enjoy such benefits and value through the risk taken by some one who run
the business and industry, whom we call as "Entrepreneurs".
Even today, there is a strong debate: whether
entrepreneurs are born or made. Although we don't have precise answers, it could be said some of
them are born and have with them inborn talents. On
the other hand, some acquire skill sets vital to
become entrepreneurs through learning and practice. In
the latter case, we can say that entrepreneurs are created. As long as human society exists, needs
and wants will arise for ever. No one can be fully
satisfied with what one has. Every day, the needs and wants change in accordance with changes
in terms of occupation, income, life style and
what not. Changes in human society hence become
more dynamic, leading to different need for product
and services and many more. In order to meet such changing needs,
there must be someone who could explore the changing needs in society, make use
of the resources and available opportunities and
create wealth, not only for himself, but also for
others. Only such individuals are termed as
Entrepreneurs.
There is a strong misconception regarding entrepreneurs prevailing even now. In general,
we term a person as an entrepreneur, if he/she starts
a new venture either by himself/herself or with a
set of partners. The success and existence of the organization in the business world will
be recognized, only when these organizations successfully reinvent products and services
for the changing environment in society. In case
the organization fails to react, its tenure or the life
time may be cut short. Hence, people working in
larger organization tends to create, innovate and
develop new products and services and are considered
as the key personalities in redefining the
business with a drive to excel. At this juncture,
B-Schools have a crucial role to play in the coming days.
B-Schools must have a new outlook and vision towards society, in its operations and in the
well-being of the student community at large. |
