Entrepreneurship, Economy & Society

Entrepreneurship, Economy & Society

Sanjeet Singh, Dean, Chandigarh University, 0

A strong business development professional graduated from GNIMT, Sanjeet specializes in analytics curriculum development, employee relations, soft skills e-learning & startup mentoring areas and holds a demonstrated history of working in the education management industry.

Entrepreneurs are innovators, learners and inherent leaders. They are the building blocks of society. True entrepreneurs are who work for society and make their life easy.

When we talk about entrepreneurship it's not just about designing and running a business. The term brackets creativity creating opportunities and most importantly, ensuring that the business moves forward along with the society.

A society needs a culture of entrepreneurship as much as entrepreneurship needs societal value for long term survival. The prominent example of an entrepreneurship is given by Google, world's largest corporate renewable energy purchaser and Levi's Strauss' jeans that are contributing to water scarcity. Entrepreneurship is the best way to give back. Entrepreneurs can contribute in building a social fabric when the priority is understood as refurbishing a better society and thus understanding the responsibility of making this world a better place to live.

Entrepreneurs are young scientists who understand the need/gap of society and tries to provide it with vital solution. Entrepreneurs are the ignitors of economy's engine. Economy and entrepreneurship are two sides of one coin and therefore, we can say that prosperity of society depends upon entrepreneurship because entrepreneurs are utilizing their own resources and contributing in building a new eco system along with providing jobs to many others and, thus raise the bar of nation's GDP. Entrepreneurs are the jobs creators and not job seekers.

Entrepreneurs drive the economy at their own pace by using their entrepreneurial energy and creativity. Entrepreneurs are the ones who take the risk for profits and are opportunist who satisfy the unsatisfied needs of society.

Today, what differentiates a successful business from a blunderbuss one is the impact they have on the society in terms of jobs, carbon footprint, social change and simply making life easier.

We all see these big entrepreneurs but what is the mantra to become an entrepreneur? Who is an entrepreneur?

Answer to first question Chanakya a common man who made a king out of another common man. A true entrepreneur is who is capable of seeing good in others and who is working towards benefitting the society as a whole.
An entrepreneur is a risk taker and entrepreneurship comes with huge critical thinking and implementation in reality. The first step to become a successful entrepreneur is to be open for learning and learning comes only when one becomes egoless and keeps no shame in learning from anything and everything.

All successful entrepreneurs have few things in common as their major characteristics, as chronicled by Chanakya:
•It is very important to love your ideology and not your idea as ideas evolve
•Procrastinate the procrastination
•A Constant learner
•No public display of anger

Normally it is observed that investors fund in the founder for his passion, drive, and pace along with the idea.

The Term Entrepreneurship Brackets Creativity, Creating Opportunities And Most Importantly, Ensuring That The Business Moves Forward Along With The Society

We have three main problems hunger pollution, environment & over population and there is significant number of startups emerging up to provide the solutions which are very promising, and thus the graph of such startups has raised. Entrepreneurship has no universal formula, but successful startups are those which understands the need or problem of society and formulate an idea accordingly as compared to those who develop an idea first and begin to weave the problem based on it. Giving back to society has been addressed by many top leading social entrepreneurs such as Nobel laureate Mohammad Yunus and Sonam Wangchuk winner of Magsaysay award.

60 percent of Indian population's age is between year 15-59 and, it would need an ample amount of generation of jobs. Government on 16th January, 2016 has launched one such big initiative ‘Startup India' to fulfil the needs and promote startups. Seeing the focus of government towards startup initiative, many private and public banks have introduced new plans under various categories and few such examples are: Thought factory by Axis Bank, Lauch pad by Federal bank, Startup by HDFC, IT-ISEP for Startups - The IT Innovation Startup Engagement Programme(IT-ISEP) by SBI.

An entrepreneur is the treasure of that economy, nation and country and should be nurtured in best possible way and provisions should be made at school level with proper mentoring to help young brains to get into habit of developing ideas and become a solution provider. Entrepreneurship is the future for our country and we are moving fast forward towards becoming an entre-preneurial society, and the wind can only be changed through those who are contributing with positive impacts for society.

We as nurturers are required to nurture a strong foundation which leads to leadership, help develop an idea into reality, provide a platform for networking to make connections and give that spark to ignite the desire. It is very important to introduce entrepreneurship awareness program at high school & college level and ignite the young minds and provide them with various platforms to present.