“Indian market is a growth market and not a mature efficiency market like the ones in the Western markets. Thus, entrepreneurs have the advantage of looking at what has worked in the Western markets and try to adapt it to the Indian markets.” – Deccan Herald ,Monday 24 February 2014
Optimistic breed of MBAs already have a cue of whats quoted above and must have been dwelling upon. Still, many future B-school graduates are quote hesitant join their ranks and risk failure. Being fair to them, its always difficult to choose between entrepreneurship and well paid jobs.
“What do I choose -entrepreneurship or employment ? ” -stay longer at your college canteen, you would find this topic to pop up for sure, at some point or the other. As fresh graduates, some aspire to be entrepreneurs whereas some would prefer taking up jobs. Entrepreneurship or Employment, each choice has both consequences and benefits; the way forward would be to weigh the latter and always choose.
Young professionals, these years in many parts of Asia are embracing entrepreneurship over employment. One such entrepreneur, quoted, “Many people are simply surviving, struggling against the hardships. For me, it’s not living forever that matters, but contributing back to this world and make a dent in it. Let the future generations have something to look forward to.”
Prof. Payal Shrivastava from Career Centre, IPER , while addressing an FEM session quoted “You can’t get a job if you don’t have the skill set of an entrepreneur, employers seek these qualities”. The entrepreneurial capability of the people decides the development of the industries, and this leads the development of the country.
Recently IIM Bangalore organized the launch of AWE@NSRCEL, – a networking platform for alumnae and women entrepreneurs where Meena Ganesh, founder and CEO of PorteaMedical said “India has enough problems that need solution; and in every problem is an opportunity for an entrepreneur. “
Even in rural areas, scope of entrepreneurship is huge -rural agro-produce-based market gives immense options to innovate, re-invent ideas at low cost. Some simple ideas had been turned into great businesses like selling branded sugarcane juice, home delivery of vegetables, giving flowerpots for hire and nurseries for fruits, flowers.
Entrepreneurship opportunities are available, productive and there are numerous talented youngsters who can shoulder it. Yet at the moment, it’s still a bit complicated. An entrepreneur has to face a lot of challenges related to family, society, technology, finance and policies.
However, despite the opinion is still heavily lopsided in favor of entrepreneurship. Just to conclude my thoughts /observations coined in this article, I quote excerpts appeared 7 months ago by Chris Devonshire-Ellis, Founder of Dezan Shira & Associates and Chairman of the firm’s International Board of Equity Partners & Directors. [ Please note that the excerpts given below originally appeared in Asia Briefing dated June 7, 2013.]
It is interesting to note that 20 years ago, the average age of a worker in China was 23. That is now the age of the average worker in India today, while the average age of a worker in China has risen to 37. So India’s current young, dynamic, and maybe somewhat undisciplined, workforce is at the same age and in similar numbers to China’s 20 years ago; the very same demographics that propelled China from 11th position in global GDP rankings 20 years ago, to the 2nd spot today behind only the United States.
While China will invest in commodities, resources and infrastructure, the Indians will invest wherever they see a profit. It drives a different breed of business mentality – one that leads to a dynamic entrepreneurial class and, with an independent judiciary in India, one that knows if they run an opaque, corrupt or poor business that they will go under one way or another. Indian entrepreneurs, therefore, are buying into the global standards of transparency that the United States and Europe enforce. It is making them globally savvy – which is why Indian MNCs are now making serious inroads into global markets. There are numerous Indian MNCs operating worldwide to international standards, and they are being innovative and successful. Reliance, Infosys, Tata, Mittel — the list goes on.
India may be 15 years behind China in terms of what needs to be done in that country to get its infrastructure up to scratch. And yes, as the world’s largest democracy, and 1.3 billion people all wanting a say in decisions, progress can appear slow compared to China’s one party model. But in terms of developing an entrepreneurial class, and one that will in the future provide the innovative products that will shape our future world, my bet is firmly on the Indians to take that crown, and it is my belief that they are already significantly ahead of China in doing so.