Emerging Trends in Entrepreneurship
EMERGING TRENDS IN ENTREPRENEURSHIP
Introduction
We all know that entrepreneurship is about attempting to assemble resources including innovations, finance and business acumen in an effort to transform innovations into economic goods. This may result in new organizations or may be part of revitalizing mature organizations in response to a perceived opportunity. The most obvious form of entrepreneurship is that of starting new business; however, in recent years, the term has been extended to include social and political forms of entrepreneurial activity. Entrepreneurship ranges in scale from solo projects to major undertakings creating many job opportunities. Many kinds of organizations now exist to support would-be entrepreneurs, including specialized government agencies, business incubators, science parks, and some NGOs. Lately more holistic conceptualizations of entrepreneurship as a specific mindset resulting in entrepreneurial initiatives in the form of social entrepreneurship, political entrepreneurship, or knowledge entrepreneurship have emerged. Social entrepreneurship is not merely an extension of Corporate Social Responsibility (CSR) as some people would want us to believe, it is a conscious effort to contribute to a Social cause and the business enterprise is merely a medium for achieving the end results.
Early beginnings
The story of the entrepreneurship in India is full of ups and downs. During the pre British and British era, the entrepreneur was seen more as a broker or money lender, bound by caste affiliations, religious, cultural and social forces right from the philosophy of dharma down to the joint family system. Entrepreneurship as we understand it today was not initially developed from this social segment. In addition, a number of political, economic factors too had an inhibiting effect on the spirit of enterprise among Indians in those times. Some of these were a lack of political unity and stability, the absence of effective communication
Introduction
We all know that entrepreneurship is about attempting to assemble resources including innovations, finance and business acumen in an effort to transform innovations into economic goods. This may result in new organizations or may be part of revitalizing mature organizations in response to a perceived opportunity. The most obvious form of entrepreneurship is that of starting new business; however, in recent years, the term has been extended to include social and political forms of entrepreneurial activity. Entrepreneurship ranges in scale from solo projects to major undertakings creating many job opportunities. Many kinds of organizations now exist to support would-be entrepreneurs, including specialized government agencies, business incubators, science parks, and some NGOs. Lately more holistic conceptualizations of entrepreneurship as a specific mindset resulting in entrepreneurial initiatives in the form of social entrepreneurship, political entrepreneurship, or knowledge entrepreneurship have emerged. Social entrepreneurship is not merely an extension of Corporate Social Responsibility (CSR) as some people would want us to believe, it is a conscious effort to contribute to a Social cause and the business enterprise is merely a medium for achieving the end results.
Early beginnings
The story of the entrepreneurship in India is full of ups and downs. During the pre British and British era, the entrepreneur was seen more as a broker or money lender, bound by caste affiliations, religious, cultural and social forces right from the philosophy of dharma down to the joint family system. Entrepreneurship as we understand it today was not initially developed from this social segment. In addition, a number of political, economic factors too had an inhibiting effect on the spirit of enterprise among Indians in those times. Some of these were a lack of political unity and stability, the absence of effective communication
References: 1. The definition of entrepreneurship from http://en.wikipedia.org/wiki/Entrepreneurship 2. An article entitled “Entrepreneurship – The Indian story by Tiyas Biswas and Dr P.P. Sengupta in http://www.indianmba.com/Faculty_Column/FC791/fc791.html 3. Social entrepreneurship inputs from www.ashoka.org 4. Information on social Ventures from www.svn.org. 5. An article titled “B schools get social about Entrepreneurship” by Chitra Unnithan and Vinay Umarji in http://www.business-standard.com/india/news/b-schools-get-social-about-entrepreneurship/333830/. 6. An article titled “Are entrepreneurs born or made?” by Dan Bricklin from http://hbswk.hbs.edu/archive/2569.html. 7. Growing fast – and smart by Donald Sull in http://hbswk.hbs.edu/archive/2569.html. 8. Web sources on Social Entrepreneurship in http://www.sristi.org/cms/?q=en/social_entriprises 9. An article “MBAs turn to Social enterprise” by Sarah Murray in The Financial Times (online edition) on 01 November 2009. 10. An article on Emerging trends in Social Entrepreneurship in http://www.coolavenues.com/know/gm/prasad-social-entrepreneurship-1.php