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With the world converging as a global
village, there has started a downpour
of a wide range of economic opportunities. There is no dearth of
opportunity for an entrepreneur with ample choices
available for business. During recent years,
Indian economy has experienced a number of major changes, Liberalization, Privatization
and Globalization (LPG) being the most prominent one during the 1990s. LPG opened
the floodgates of opportunities for entrepreneurs. With the advent of the Internet, distances
have become insignificant as far as information sharing is concerned. A galore of
opportunities has emerged on the screen of the
corporate world with the technological advancement of
the present day. Enthusiastic entrepreneurs are taking advantage of these opportunities and
are not only flourishing but also contributing towards the national income.
Entrepreneurial opportunities today range from operating from
a virtual office or through a kiosk in a shopping mall to establishing medium or
mega-sized establishments. Private operators are in
almost every sector, be it in transport,
communication, marketing, manufacturing,
technology, healthcare, education or other services.
An entrepreneur is the innovator who introduces something new to the economy. If
it is not totally new, it has a certain edge over
the existing products or services. Entrepreneurial role involves doing things in new and
better ways and calls for quick but effective
decision making under the conditions of
uncertainty. Entrepreneur is business leader and not
simply the owner of the capital. He is an
employer, master and merchant who explicitly
identifies with the capitalist. An entrepreneur may be
best defined as a person or a group of persons responsible for the existence of new
business enterprise. Entrepreneurs create a niche
for themselves and cater to the needs of the group
of consumers usually neglected by the corporate giants due to the fact that the profit margins
are thin in those segments. Entrepreneurs are also innovators and develop new products
and services as per the requirements of the consumers. They also
substantially contribute to the GDP of the nation and provide direction to
venture capital and play pivotal role in rotating the capital. Their
leadership qualities are well-known and because of them employment is generated
and societal standards uplifted. The strength of a nation's economy can
be measured by the contribution of entrepreneurs in various sectors.
It will not be far from the truth if it is said
that entrepreneurs constitute one of the strong pillars of the national economy, especially
in today's post LPG era. |
